The states are looking for a level of regulation similar to that which applies to financial investments. Senator Ian Campbell has reportedly indicated that the Federal Government would support either uniform legislation between the states or bring property investment within the ambit of the investment laws that currently apply to financial services in the Corporations Law.



One of the ACT Government’s key election promises was to build the road to the west of the Australian Institute of Sport. The Government stated that the road would still be built by mid-2006 and the project would cost $6 million less. The Government would work with the eastern plans produced by the previous Liberal Government. The Etta long Beach Club Resort has reportedly sold 87 units days after they were released onto the market.

The first release consisted of 105 apartments with prices ranging from $250,000 to $1.1 million. A qualified and ensured Real Estate Appraiser will always treat his client with the correct services and make sure that his client never faces any problem while he is performing the process. Construction of the resort is due to being in the first half of 2003 with com IM platoon in 2004. Whilst the project will be located 275 km north of Darwin it is anticipated that the onshore facilities will be based in Darwin.

The $650 million Casuarina Beach estate sold $16 million worth of land on the weekend. The estate released the final two precincts of the estate which were the Caldera and the Sands precinct and sold 64 allotments. The conversion of the 31-level tower will result in 226 apartments which will be sold off individually. The apartments which will be one and two bedroom will range in size from 62.2 to 89.2 square meters.

The tower is currently being run as a four-star hotel and is known as the Nonvoter Beachcomber. The management rights of the tower are being sold with negotiations reportedly underway. AHC have reportedly purchased a 9.56 hectare site in Oxen ford for $3 million. Sunland Group and the Anderson family have reportedly placed a vacant beachfront Surfers Paradise site on the market for sale via tender.

The site will be sold as either a single 2,387 sqm holding or four lots between 594 and 604 sqm. The site is reportedly the only remaining beachfront vacant land in Surfers. The Insurance Commission of Western Australia has reportedly purchased two retail properties for $51 million. It’s not just about networking,” said Mr. Cooper “there is an enormous potential within the Village for cooperation and collaboration between organizations which we are only just beginning to realise. There are challenges in partnership working but the potential benefits are worthwhile.



Working closely with the newly established Learning and Skills Councils can only enhance the process and the gains for the skills and learning agenda in the South East. OFM Investment Group have reportedly purchased 35 Spring St, Melbourne for $35.3 million. The property has been purchased for the OFM Property Investment Unit Trust and will be funded by a mix of equity and debt. The units in the new trust are expected to be issued to retail investors later this year.

Bridgestone Australia have reportedly signed a 12 year lease to relocate its Victorian head office and distribution centre to a 25,800 sqm purpose built facility in the Gilbertson Industrial Estate, Derrmiut. The facility is being developed by Mimivic and will include a administration headquarters, showroom, warehouse space and a tire-fitting centre.

The site is located directly opposite the Merlyn’s Shopping Centre and the purchase was a strategic one with view to expand the Shopping Centre onto the land.The site is located adjacent to the Stock land Baulkham Hills centre and will provide for further expansion opportunities. The vacancy rate for residential property has increased in the Sydney region to 4.5%.

The fall in private houses represents a 14.9% seasonally adjusted decrease over the year from November 2001. If it business or real estate in both cases it is obvious to take assistance from the expert person for calculating the price of the house. Vacancy increased in the Inner and Middle of Sydney while Outer Sydney experienced a fall in vacancy. Welcoming the day’s results, Professor Parsonage said: “We have agreed to establish a think tank involving LSCs and our partners in the Village to tackle the help.

This was a result of the decrease in value of residential building approved of 30.6% being partially offset by a rise in the value of non-residential building approved of 27.7%. The state governments have been predicted to receive $8 billion plus from the booming stamp duty revenue In midyear budget review the NSW government have projected an increase in stamp duty while Queensland.

Tasmania and Victoria have forecast that the stamp duty revenue will start to fall. The strength of the property market resulted in large increases in stamp duty across the board in 2001-2002.There are currently three aged-care developments planned for the southern suburbs. Lifestyle SA has proposed a $50 million aged care village in Happy Valley with 270 units. Beth Salem Care has lodged plans for a $6 million, 80-bed nursing home with 16 units also at Happy Valley. A spokesperson for On kaparinga City stated that this reflected the demand for aged care in the south.



The property consists of 18,728 m2 complex and is currently leased to Toll Holdings a net annual rental of close to $1.3 million. The property is located in Eagle Farm and the purchase represents a yield of around 8.5%.The property consists of the Hilton Hotel with 320-rooms, 100 specialty retail outlets and a 582 bay car park. Day sun Australia sold the property on a yield of about 8%.

Stage One is a 7,067m2 parcel of land designated for residential apartments and retail/ service industries. The parcel was taken to the market late last year and parties which were purported to have taken an interest include Mc Ross Development, Stock land, Urban Properties and Arianne. The expected price for the land is $8-$9 million. The $80 million Shoal Bay Resort and Spa has reportedly sold all its apartments only two weeks after the official opening.

The resort consists of two apartment towers, apartment clusters, a convention centre and a $5.5 million hydrotherapy spa and health centre. The resort is located on the former Shoal Bay Country Club opposite Shoal Bay Beach, north of Newcastle.Methanol Australia has announced that they have received approval from the Federal Government for the Tassie Shoal Methanol Project to proceed. Whilst the project will be located 275 km north of Darwin it is anticipated that the onshore facilities will be based in Darwin.

Methanol Australia have reportedly flagged between $70 to $100 million of construction in Darwin. A prime high rise development site will be offered to the market in early January 2003. The site is 3,255m2 and fronts the Gold Coast Highway and Fern Street and is one of the last and largest amalgamated sites in Broad beach. The property will be under the proposed new town plan with is expected to be approved in March 2003 will allow for 30 storey tower to be built. what documents required for house valuations?

Austria land Holdings have reportedly sold the last apartment in the $69 million Deepwater Point Apartments project in Labrador.The development will have 24, two storey houses and three single level houses with prices ranging from $480,000—$750,000. The development will be the final freestanding house development around the 18-hole east course.The motel is located on the Gold Coast Highway and consists of 18 motel rooms and the reported sale represents a rate of $66,666 per room.

The new owners will reportedly continue trading but are considering their long term options as the land is zoned multi-unit. The Guests Furniture outlet reportedly sold to a private syndicate of local investors for $5.08 million. The outlet consists of a showroom and office area of 2,900 m2 and is currently leased to Guests Furniture at an annual net rental of $461,000.



The sale reflects a yield of around 8% and a rate per square meter of $1,752.The Lonsdale Garden office building in Lonsdale Street reportedly sold for $9.22 million to an undisclosed local investor.The sale reflected a yield of 6.55% and the property is currently only 75% leased.The proposed new under-city railway tunnel will involve the Mandurah to Perth railway line sunk after Narrows Bridge and going underground at William Street. Property valuation courses are constantly quick to assemble however much learning as could be expected for the region and the comparable properties in the territory.

Currently preliminary soil testing has begun along 58 locations on the proposed route. The exact underground location for a new station has yet to be decided.The fire at Subiaco went through Hay Street and affected Farmers Direct-Ely Plus and Dive, Ski and Surf Supplies and is believed to have been lit deliberately. The fire at Daniela caused extensive damage to Chicken Treat and appears accidental.

Macquarie Bank is proposing to build the $1 billion Oasis project. The bank is in a public private partnership with Liverpool City Council and appears intent on developing most of the original projects with the exception of the football leagues club. The original Oasis development consisted of new Liverpool City council chambers, 9,000 m2 of retail space, 2,500 residential dwellings, and commercial offices, a water park, arena and sports stadium.

For the budget in NSW the expenses have increased especially due to higher insurance costs and superannuation expenses and additional spending in key portfolios have reduced the expected surplus but the strength of the real estate market has helped offset the increase in projected expenses.

This saw the vacancy rate fall 150 basis points in the last half of 2006 to 7.9% the lowest since July 2002. All office grades experienced a decrease in vacancy with the exception of D grade which resulted in a marginal increase.The North Shore office market still has some challenges ahead, with vacancy increasing in North Sydney to 8.1%, Crow’s Nest/St Leonards showing no movement at 11.1% and Chats wood recording the only decline to 13.0% over the six month period.

All three sub markets witnessed positive take up levels, with North Sydney recording 8,030 sq m, Crow’s Nest/St Leonards 3,892 sq m and Chats wood 6,812 sq m over the same period. Looking forward, any improvement in these markets will stem from the demand led addition of stock. Improvement will be further hampered by the large relocation of Optus out of this market and limited employment growth forecasts.



Across the Parramatta office market occupied stock rose significantly by 11,329 sq m over the half yearly period, as low rents and high incentives continue to attract tenants to this region. Vacancy rates also reflected an improving leasing market with a fall of 2.0 percentage points to 8.8%, after Parramatta reached one of the highest vacancy levels of 10.8% in the first half of 2006. The January 2007 PCA Office Market Report has identified the vacancy rate for Brisbane CBD has fallen to historic lows of 1.7% as a result of decreased vacancies in A grade (1.1%) and B grade (1.0%) stock. A reduction in the vacancy rate for premium grade stock to 4.3% reflects additional space being filled in Riparian Plaza.

Some of the lowest vacancy rates have occurred in Spring Hill down to 1.3% from 2.3% since the last survey, the Inner South recording a rate of 2.0 from 3.6% and Toowoon at 2.1% office vacancy.

Property Valuations VIC theory serves to settle on decision as to our property that whether you bring to the table it or wan to make it more worth for offering reason. Vacancy rates for all locales in the Near City area have seen dramatic decreases to average only 2.8%, the second lowest rate of all non CBD vacancies in Australia.

The CBD market has recorded a high net absorption rate of 55,990 sq m, as a result of full commitment of over 58,000 sq m of new development supply. Future supply in the CBD through 2007 has been reported by PCA to total only 38,247 sq m with a majority of this office space coming from refurbishments.Absorption in the near city market has fallen by almost 31% to 17,397 sq m, with net supply only 7,677 sq m in the six months to January 2007.

The total market vacancy rate for the Gold Coast has fallen to 4.5% from 6.5% in July 2006.The St Kilda Road Office market has gone through much uncertainty as new supply additions have historically set back this office market. The Southbank Office market is vulnerable to increased supply levels; this is a major concern for the future viability of this office location. However, White Collar Employment does not look as strong across the state and more specifically for the St Kilda Road market.

White collar growth for St Kilda Road is well behind Brisbane CBD, on the supply side, the St Kilda Road office market has limited expansion opportunities, with greater threat of supply withdrawn from the market for alternate use, such as residential.Landmark White has only identified one small new supply opportunity likely to enter the market over the next five years.



It is likely absorption will average 1,765 sq m per six months over the five year forecast period. With average net supply into negative each period as we assume higher withdrawal rates, vacancy levels are likely to result in good compression over the next five years.

Total vacancy rates see their greatest compression period in the second half of 2009 where vacancies fall 56 basis points to 7.5%, our forecast finds vacancy continue downward to 6.4% in the last period, July 2011.

With average net supply into negative each period as we assume higher withdrawal rates, vacancy levels are likely to result in good compression over the next five years. Property valuation structure is constantly positive for everyone and to make it more helpful in a far-reaching way secure a certified and experienced property valuer to deal with your whole system for concerning property.

Prime net face rents are forecast to grow at 2.60% per annum over the next three years to average $224/ sq m, over the longer five year period growth is projected to increase to 2.82% and peak at $238/sq m.

This, together with small additions through refurbishments has been factored into these forecasts. The lack of large scale development opportunities within this market will result in questionable net absorption results, as a consequence growth in demand will stem from existing business expansion through limited employment growth, rather than relocation into this market.

Results from our forecast see vacancy fall marginally to 9.3% in January 2007 and continue decreasing through to the end of the forecast period. On the rental side, St Kilda Road average rents are in for much improvement as available supply stock dwindles particularly in the high employment growth periods of 2008-2009. Despite the obvious available space contraction, demand in this location is limited; hence any greater rental growth will be unlikely.

In turn this will have a tightening effect on yields; this has been witnessed over the past two to three years, with yields currently ranging between 7.00% and 8.25% with an indicative of 7.58%. Our forecast suggests yields will keep compressing over the next five years to average 6.75%. Landmark White’s outlook for the St Kilda office market is positive, with limited supply pressures on this market, the next five years will be a period of improvement in market position. On the off chance that you have chosen to offer your property, you must get a precise commercial property valuation report example to focus the potential deal cost in the current business sector. Although absorption results may be mixed, small increasing demand expected by employment growth will be enough to sustain a decreasing vacancy environment.



Yields too will continue to be compressed over this forecast period as greater institutional investors will take advantage of the sound fundamentals of this office market. Although these projects are likely to await a high level pre commitment before commencement, additional supply into this market could be viewed as a major setback.

The Southbank office market has historically seen peaks of additions which have affected the health of the office market, with potential for new supply to be added over the next five years, this raises concerns in this currently improving market.

Historically we have witnessed the effect a large development such as Freshwater Place can have on a smaller office market; similarly, Freshwater Place 2 a 31,500 sq m development will impact this market upon its completion. Our forecast over the next twelve months see net absorption at 1,869 sq m however looking further ahead, assuming the completion of these two supply projects with partial pre commitment, net absorption will average 3,276 sq m per six months over the five year forecast period.

Results from our forecast see vacancy steadily fall over the next twelve months to 8.1% in July 2007 and continue decreasing through until the next supply addition. Total vacancy falls to its lowest in July 2010 at 7.4%, however should a supply project enter the market without full commitment, it is possible to raise vacancy levels back up above 10.0%.

Southbank average rents are in for some improvement, particularly over the next two to three years. Prime net face rents are forecast to grow at 2.03% per annum over the next three years to average $264/ sq m, over the longer five year period assuming supply additions, growth is projected to decrease to 1.44% and peak at $267/sq m in December 2010.

Similar to most office markets across the country, Southbank has witnessed tightening of yields as investment grade stock progressively becomes harder to source. Currently yields range between 6.00% and 7.25% with an indicative of 6.75%. The Brisbane CBD has seen inconsistent historical supply, however over 78,000 sq m is due to enter the market over the next 12 months with most space pre-committed.

Our forecast suggests yields will continue to compress over the next three years to average 6.55%, after this period if supply projects enter the market, it is likely yields will correct rising up to average 7.15% by the end of the forecast period.This edition of Landmark Byte features our key findings from these forecasts which indicate ongoing growth throughout the forecast period.



The core Brisbane CBD economic fundamentals of Gross State Product (GSP) and White Collar employment growth have continued to outpace Sydney and Melbourne and this trend is expected to continue according to Access Economics in their June 2006 results.Landmark White has identified 347,000 sq m of net additions to enter the market over the next five years. Absorption of this new supply is expected to remain strong until at least 2010 as the combination of solid economic fundamentals; significant pre-commitments and continued tenant demand for increased space support the buoyant office market.

The Brisbane CBD is about to enter an extended supply cycle, with a temporary slowdown in early 2008. valuations models focus the present estimation of future approaching trade streams in for spendable dough request to acquire. Some of the more significant projects to be added to the market include 333 Ann Street and 45,000 sq m of net let table area proposed for 400 George Street.Landmark White has forecast almost 64,000 sq m of absorption in the current six months to January 2007 with a majority of the space to be taken up in the fully pre-committed Brisbane Square development.

Looking forward, Landmark White anticipates over 321,000 sq m of office space to be absorbed throughout the next five years.Vacancy levels in Brisbane CBD are expected to fall to a historic low of 1.4% in January 2007 before reverting back to an average of 2.0% by January 2009. This vacancy level is then expected to fall to 3.2% in July 2011 as absorption over the following two periods stabilizes the impact of the substantial additions to the Brisbane CBD.Average Prime net face rents have seen extraordinary growth over the last three years, peaking in June 2006 at 23.12% and rental levels achieving on average $458/sq m.

looking forward, Landmark White forecast rental growth to average 5.94% over the next five years in comparison to the historical growth average of 7.01%. Current incentive levels are between 0% and 5%, especially in well located and established prime office buildings.
The investment market in the Brisbane CBD has continued to be strongly contested, with Wholesale Funds accounting for approximately 41% of the $778 million transacted in the 12 months to September 2006. Like the most office markets in Australia, Professor John Parsonage, Director of SEEDA’s learning and Skills Team that hosted the day, was optimistic that the links created would bring some early results to the region, but more importantly long term benefits. The current average prime yield is 7.13%; however yields may range between 6.50% and 7.75%



We have recognized the areas of common interest where we can unite to work together, for example to get the best on behalf of property valuer the South East on funding issues. Following that the market is expected to reach a point of stability as the rental expectations and yield environment level out.The Sydney CBD is coming to the end of its current supply cycle, with only 57,210 sq m due to enter the market over the next 12 months.

With high levels of supply entering the market over the next five years together with positive employment growth, net absorption results are likely to continue favorably. Net face rents have witnessed growth in the past twelve months; this is likely to continue during the next three years in line with the consolidation of vacancy. Melbourne CBD is a market where institutional investors have shown interest resulting in tightening yields and this is likely to continue in the shorter term.

With high levels of supply entering the market over this five year period, net absorption results are likely to continue favorably. A combination of expanding business operations, pre commitments, withdrawal of older stock as well as employment growth is likely to result in six monthly net absorption averaging 30,736 sq m over the forecast period, below historical results of 36,627 sq m over the same time frame.With average net supply at 45,130 sq m each period, vacancy levels are likely to result in some upward movement over the next 12 months. Results from our forecast see vacancy up to 7.7% in January 2007 before increasing to 8.0% in July 2007.
Total vacancy rates are likely to consolidate this position over the following three years averaging 7.9% before increasing in 2011 to over 10.0%. This limited positive movement in the shorter term is a symptom of backfill space, although new supply has been contested and has achieved good levels of pre commitment, it is the space which is vacated which will hinder a full recovery in the Melbourne CBD market. This is likely to continue during this period of consolidation of vacancy and fall in the period after 2010 where vacancy shows signs of increase. Prime net face rents are forecast to grow at 2.95% per annum over the next three years to average $328/ sq m, over the longer five year period growth is likely to average slightly less at 2.35%.



Limited employment growth opportunities and subdued business confidence will put a cap on any further rental growth over this period. Wholesale Funds have dominated the pickings, purchasing 51.6% of the total. There is further scope for yields to be compressed, our forecasts show yields bottoming in 2008 to average 6.75% before increasing again to current levels later in the forecast period. Melbourne CBD is a market where institutional investors have shown interest resulting in tightening yields and this is likely to continue in the shorter term, however yields should show some growth post 2010, allowing for increased risk as vacancy levels rise.

Beyond this period, we believe there is potential for supply levels to outstrip demand, particularly due to the proliferation of secondary quality backfill space together with dampened employment growth. Supply potential within the Melbourne CBD is vast, and to maintain equilibrium between supply and demand with rental growth, this supply must be demand led. Our high skilled property valuers or solicitors are helping you in preparing real estate valuation or appraisal report at lowest prices. Landmark White are currently monitoring approximately 848,000 sq m of new suburban office developments in 90 projects across Sydney. Sydney’s Fringe looks to produce the most stock in the next four years while the North West sector continues to grow.

Landmark White are currently monitoring 848,000 sq m of office space in 90 projects forecast to enter the Sydney metropolitan suburban office market over the next four years as skilled property valuers. Over the next 18 months the bulk of new supply under construction, will be provided by the Fringe region (64,025 sq m) and the Central region (58,038 sq m).

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One of the largest developments nearing completion is the One Darling Island building, which recently secured pre-commitment by John Fairfax Holdings Limited holdings to occupy the entire building by mid next year.In the medium to long term office supply will be heavily concentrated across three regions being the Fringe region, North Western region and the Central region. Combined these regions have a development pipeline of 614,866 sq m, being 72.45% of the total additions to the suburban office markets.



The Fringe region has 23.22% of total supply under construction, while North Western has 19.19% currently being developed. Both of these regions are anticipated to provide 53.36% of total future supply to the Sydney metropolitan office market over the next four years. Southern region recorded a gross rental of $347/sq m, followed by the Central and Western regions with $330/sq m and $ $320/sqm respectively. The Fringe represented the highest level of turnover being 47.35% of the broader suburban office market in 11 transactions, Solid supply and absorption of office space on the Gold Coast expected to continue: Increased interest from Funds and Listed Property Trusts continue to strengthen the investment market.

Looking ahead supply levels in both these regions will be subdued in comparison to the North Western and Southern regions which will emerge as the key source of new office space, accounting for 60.38% of office developments with DA approval.The market is broken into five main localities; Broad beach, Bundall, Robina / Varsity Lakes, Southport and Surfers Paradise. The abnormal result in 2002 supply reflects the entry of the Robina / Varsity Lakes office space into the overall Gold Coast market. Future supply will be provided from new projects including Eastside Robina and the recent announcement Southport Central Stage 2 will be fast tracked to supply over 9,000 sq m of office space in early 2008.

Results from a recent supply analysis completed by Landmark White have found there are over 216,000 sq m, either with development approval or currently seeking approval.

Absorption of office space across the Gold Coast over the last four years has been strong, with almost 25,000 sq m taken up over the last financial year and similar results above 20,000 sq m reported since Major projects including Brisbane Square, 299 Adelaide Street, Central Plaza lll and 140 Elizabeth Street have either announced full pre-commitment or are expected in the near future.

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Proposed projects of significance include a 25 level office tower on the disused Suncorp Theatre site on Turbot Street and another 25 level office tower at 333 Ann Street. A number of these projects may not come online until 2009 however demand for quality office space in the CBD is expected to remain strong. Developers in the Near City office market have apparently identified a significant opportunity with an unprecedented number of projects proposed over the next three years. Landmark White has identified almost 90,000 sq m of office space to be added during 2007 and over 110,000 sq m either approved or mooted for 2008 and beyond.

The Urban Renewal precinct has seen a large amount of recent activity with DA approval granted to a 13,000 sq m development at Edmond stone Road, Bowen Hills and another application submitted for an 8,000 sq m office building on Montpelier Road, Bowen Hills. The total market vacancy rate for Brisbane CBD has fallen to historic lows of 2.3% based on decreasing vacancies of A grade (0.2%) and B grade (1.6%) stock.



A reduction in the vacancy rate for premium grade stock to 5.8% in the most recent figures reflects new space being filled in Riparian Plaza including KPMG and BHP. However since this data release it is reported that the remaining vacant space in Riparian will be secured imminently. The first step of the application process is performed by taking some help from the knowledgeable person. With pre-commitment interest being shown by prospective tenants in mooted projects, indications are that the Near City vacancy rate should remain close to current levels in the short to medium term.

Vacancy rates for all locales in the Near City area have seen dramatic decreases to average only 4.2%, the second lowest rate of all non CBD vacancies in Australia. The latest data shows absorption above 29,000 sq m for the last 12 months which has been the main driver to reduce available space to only 32,214 sq m. Some of the lowest vacancy rates have been at Spring Hill (2.3%), Toowoon (3.2%) and the Inner South recording a rate of 3.6%.The last two years have seen a transition from the flat Brisbane CBD rental market. Limited availability of contiguous space and delays with new and refurbished supply entering the market have contributed to recent increases of up to 25% in annual net effective rents.