Third time in three months the Camberwell record house price is challenged
For the third time in three months, a Camberwell mansion has been listed, which could smash the record as the
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Golfer Peter Senior lists waterfront Gold Coast home
Golfer Peter Senior – the winner of 34 international tournaments – is selling his palatial Gold Coast waterfront home. The
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Fragrance Group shaves 5 metres from height of Hobart’s tallest skyscraper proposal
A fortnight since 400 protesters packed the Hobart City Council chambers calling on representatives to reject a 210-metre CBD skyscraper
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Vince Colosimo and Jane Hall’s renovation rescue is now Northcote’s priciest rental
The Northcote terrace stylishly renovated by actors Vince Colosimo and Jane Hall before their bitter 2007 split, is for lease.
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“Most significant” Melbourne estate, Blair Athol, for sale
One of “Melbourne most significant estates” – Blair Athol – is being offered for the fourth time in nine years. Now
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Facebook expands into real estate advertising
Facebook has launched an advertising product for real estate agents. The Dynamic Ads for Real Estate tool is an advance
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Margaret Jackson AC sells Armadale mansion
A Melbourne power couple sold their family home today in one of Armadale’s most esteemed streets for more than $5.8
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“This is just the start”. Amazon makes location of first Australian fulfilment centre official
Cloud computing and e-commerce giant Amazon made news of its first Australian fulfilment centre official this morning. As speculated, the group
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Trophy clifftop estate, Pelican, sells for speculated $12m+
After eight months on the market and a $1 million-plus discount, Mt Eliza’s spectacularly located Pelican estate has sold for
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Alanis Morissette lists Brentwood mansion of 21 years for $A7 million
Singer Alanis Morissette is selling her Los Angeles home of 21 years. The property, with a c1951 Mediterranean style mansion,
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John Gandel leases ex-HQ to serviced office operator
John Gandel has leased his company’s former and unique headquarters to serviced office operator Waterman Group. The 5000 square metres
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Beyonce and Jay-Z reportedly buying c$A113 million Bel Air property
Entertainers and new parents, Beyonce and Jay-Z, might have paid $US90 million for a Bel Air mansion if reports published
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Zaha Hadid Architects releases 600 Collins St hotel animation
Zaha Hadid Architects has released an animation showing how Australia’s first Mandarin Oriental Hotel will look upon completion in 2023.
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Jeff Xu’s Golden Age selling Melbourne Sheraton for $135 million: sources
Property developer Jeff Xu is understood to be selling the Sheraton Melbourne Hotel for $135 million. The three year old
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What was The Block Elsternwick before?
It may forever now be known as The Block Elsternwick site, but long-time readers of Melbourne’s property pages will
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Brett Blundy relists Rose Bay mansion with mid-$40m price hopes
BRW Rich Lister Brett Blundy has relisted his contemporary Sydney waterfront mansion with mid-$40 million price hopes. The entrepreneur –
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Elias Jreissati family home could set Port Melbourne record
Elias Jreissati has relisted his three-storey HMAS penthouse in Port Melbourne for $18 million – a potential suburban record price.
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Sky-pool to become a suburban Melbourne landmark
A Marina Bay Sands-style sky-pool connecting two proposed apartment buildings is poised to become a suburban Melbourne landmark. Part of
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Deague Group buys South Melbourne site for $24m+, plans Australia’s first “wellness office”
The Deague Group plans to build Australia’s first “wellness office” on a South Melbourne site it has just bought from
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Stockland pays $48m for Altona North site
Stockland is paying $48 million for a 6.3 hectare Altona North residential development site. The property is part of a
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GPT seizes full control of Highpoint, paying $680m for final 25% share
As reported in April, the GPT Group has exercised a pre-emptive purchasing option to snare the final 25 per cent stake
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Amazon chooses Dandenong South for first Australian fulfilment centre
Amazon appears to have chosen Melbourne’s Dandenong South as the location for its Australian fulfilment centre. The electronic commerce and
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Former PM pays $1.65m for Sydney investment property
Former Labor Prime Minister Paul Keating (pictured) has paid $1.625 million for an investment property in Sydney’s exclusive Elizabeth Bay.
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Google Home and 14 other gadgets for your household
Remember – just a few years ago – when the release of a refrigerator with a light that advised when
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Toorak deal sets state record
The record price for Victorian home has been smashed by almost $14 million following an off-market “done deal” in Toorak.
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Andrew Muir pays Daniel and Danielle Besen $17m for Miramar
Good Guys boss Andrew Muir is buying the distinctive Flinders holiday home listed late last year by Daniel and Danielle
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Millionaire-only apartments to replace Toorak’s Aberfeldie
A millionaire-only residential project with a concierge, gym, private gardens and 42 dwellings will replace the site of Toorak’s historic
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House where Dalai Lama stayed in Australia, for rent
The distinctive Fitzroy North home where the Dalai Lama stayed during his 1982 Melbourne tour has been listed for
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Strathmore weatherboard made famous as the Kerrigan home in 1997 film The Castle to be sold
Postscript: the building sold at auction after a knock out bid of $40,000 trumped a $35,000 offer. It was purchased
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Brunswick West house recently offered by Kangaroos Captain Jack Ziebell for rent
The renovated Brunswick West home offloaded by North Melbourne Football Club Captain Jack Ziebell last month has become a
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Eight of the most expensive homes available for rent in Melbourne today
Two lavish Melbourne homes which recently sold for more than $4.5 million have been added into the mix of prestige
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Glamorous Collingwood church conversion could sell for more than $6m
A Collingwood church marketed to commercial users or residential renovators five years ago – has been converted into one of
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Camberwell listing with eight figure price tag may smash record
The record price for a Camberwell home could soon be broken – twice – with one of two properties recently hitting
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Carlton building where Julian Assange founded WikiLeaks rents for $31kpa
The Carlton terrace where Julian Assange founded WikiLeaks has been leased for $600 per week. Assange paid weekly rent of
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Carlton North home of late architect Peter Corrigan sells for $5.25m, a suburban price record
The Carlton North home of late Royal Australian Institute of Architects gold medal award winner Peter Corrigan sold at auction
Read moreWest Melbourne Office Sells to Singaporean Developers For $41.5 Million
A WEST Melbourne office building near the north-west tip of the CBD sold to Singaporean developers this week for $41.5
Read morePlanning Minister Approves $800 Million-Plus Redevelopment of Ex-Age Site, Melbourne
IT USED to be considered the dankest end of the Melbourne CBD – but now two former industrial sites opposite the Southern Cross train station are to make way for some ten swank skyscrapers accommodating some 5500 apartments.
Yesterday Victorian planning minister Matthew Guy approved an $800 million redevelopment of the former Age newspaper site at 250 Spencer Street.
The proposal – seen in ISPT’s 2012 annual report – seeks to add six skyscrapers and 2994 flats to the block which for years houses The Age newspaper.
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Historic Burrawang West Expected to Sell For $8.5 Million
NINETEENTH century station Burrawang West in western New South Wales is for sale and expected to sell for about $8.5 million.
The historic property spread over 5000 hectares on the Lachlan River, about 450 kilometres west of Sydney, was once a wool production operation, in 1884 establishing a then-record for processing 5000 bales.
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Challenger Sells 417 St Kilda Road, Melbourne, For $80 Million
INVESTMENT manager Challenger has offloaded a major St Kilda Road tower in an $80 million deal.
The 10-level, 20,000 square metre A-grade office at #417 (pictured, right) has been purchased by syndicate Newmark Property Group, headed by ex Lend Lease and Mirvac executive Chris Langford and Simon Morris, previously director of the Peninsula Development Group.
The sale price represents a high yield of about 9 per cent. For years known as the Mobil building, 417 St Kilda Road includes Oracle and the Red Cross as major tenants.
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State Government Approves Laws Allowing Perth Sunday Trading
AFTER some 25 years, the Western Australian state liberal government has approved laws allowing Sunday trading in Perth.
In a move expected to result in a wave of major new retail developments and refurbishments, Premier Colin Barnett, and the opposition, supported the legislation which replaces ad hoc rules that allowed only certain retailers to open.
Sunday trading was the subject of a failed referendum in 2005.
Melbourne-based Myer has been one of the first retailers to praise the move, adding the group would now “move more quickly to refurbish and expand operations in Perth”. The company has refurbished just one of its six Perth stores since 2006 but undertaking numerous major renovations of its east coast outlets since that time.
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Costco to Enter Lucrative Australian Petrol Market
US retail giant Costco – reportedly the world’s eighth largest retailer – is looking to enter the lucrative Australian petrol market.
Following in the footsteps of local rivals Woolworths, and the Wesfarmers backed Coles, Costco has applied to build service stations at as-yet-undeveloped stores in Sydney and Brisbane.
The retailer reportedly sold 8.7 billion litres of fuel at its 500+ US stores in 2010.
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Tasmania’s Pub in the Paddock For Sale, With Drinking Pigs
TASMANIAN tourist attraction the Pub in the Paddock is for sale asking $800,000.
The pub, run by Anne Free and renowned for its beer drinking pigs, is in the state’s north-east.
Built as the St Columba Falls Road hotel in 1880, and licensed since 1901, the pub also includes six guest rooms which derive rental income of $75 per night. On three hectares with South George River frontage the property also includes a 100-seat restaurant. A set of pigs, famous for being welcomed in the pub for a drink, are included in the sale price.
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Lend Lease, Examplar to Build $2 Billion Sunshine Coast University Hospital
LEND Lease and a consortium known as Exemplar Health have been appointed to build a $2 billion tertiary hospital at Kawana in the Sunshine Coast in Queensland.
The Sunshine Coast University Hospital (artist impression, right) will include 738 beds with the first stage due for completion in late 2016.
A statement released by Lend Lease this afternoon is copied below:
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Ray White to Invest $100 Million in South Korean Mixed Use Project
LOCAL real estate group Ray White is reportedly considering investing $100 million in a South Korean real estate development at Gwangyang, on the less developed south-eastern coast of the country (map, right, with Gwangyang highlighted).
The move, part of a continuing low profile expansion into Asia, will see a residential and retail development developed in an area the central government is trying to encourage decentralization out of Seoul.
According to the AFR which reported the Gwangyang proposal in detail, the 2012 Expo is being held at the nearby town of Yeosu. It is in a city where most of Australia’s iron ore exports to South Korea are delivered for use at the Posco steel mill, nearby.
South Korea has long been a large commodities export market.
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South Australian Department of Health Leases Torrensville Office-Warehouse, Adelaide
SOUTH Australia’s Department of Health will pay $135,000 annual rent to occupy a 960 square metre office in Torrensville, two
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South Africa’s Growthpoint Pays GPT $50 Million For Canberra Office
SOUTH African backed Growthpoint Properties Australia has paid $50 million for a Canberra office complex fully leased by the federal government.
The 10-12 Mort Street complex (pictured, right), offloaded by the GPT Group, includes two adjoining six-level towers with a total of 15,400 square metres of A-grade space. The AFR, which reported the sale, did not disclose the rent paid by the government or the yield the property sold for.
Over the past three years the trust has acquired $835 million in real estate. It bought four office assets last December for $294 million, and also , three office assets in Brisbane, an office development in Sydney’s Gore Hill Technology Park.
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Darwin’s Biggest Residential Development Since Cyclone Tracy to Commence
THE largest residential development to be developed in Darwin since Cyclone Tracy, in the 1974.
The 1100 lot Breezes Muirhead project is being undertaken by Investa Property Group with Defence Housing Australia.
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Review of Melbourne apartment projects
Record low interest rates with first home owner grants are fuelling an apartment building boom. But not all developers could
Read moreMajor Projects to Proceed in Cranbourne, Melbourne
IT has been a busy period in Melbourne’s outer south-east.
Last week, Planning Minister Justin Madden unveiled a master plan for a new suburb, Cranbourne East, capable of accommodating 20,000 people.
Now, in nearby Cranbourne West, first time developer Wolfdene is readying to start marketing the first blocks within its $56 million Alarah estate, at 660 Hall Road.
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Selling your property: a guide
ANYONE who has sold their homes can tell you the process is complex and stressful.
With so many variables to consider – including choosing the right agent, taking aim at your market and negotiating with interested parties – selling real estate is an art and one that often frustrates prospective buyers, who feel forced to pay more than they wanted.
With the real estate market getting into full swing after the holiday season, Sunday Domain talks to the experts about the sale process, what it costs and what to expect.
Read moreCould Southbank’s apartment market be headed for another over-supply?
Since the start of this year, residential development sites worth more than $80 million have been exchanged, or are under negotiation – in deals expected to result in up to 10 new high-rise towers over the next five years.
Read moreDonvale Suburb Profile
Donvale is located immediately east of Doncaster East, about 24 kilometres from the CBD.
Read moreIOOF Investment Management Buys $24 Million Industrial Asset, Derrimut
IOOF Investment Management Ltd has paid $24 million for a 27,000 square metre industrial facility in Melbourne’s west.
The Derrimut investment is within Australand’s West Park Industrial Estate – a 290 hectare industrial park located fifteen kilometres from town on Boundary Road, abutting the Deer Park Bypass.
Just over a year ago IOOF paid $19 million for another asset in the Australand estate. Other West Park occupants include Mitre 10, Freight Specialists, La-Z-Boy and Bed Bath N’Table.
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ATO to list ‘Taj on Swan’
The Australian Taxation Office is a step closer to being able to sell the distinctive half-built mansion dubbed the ‘Taj
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News Limited Issues Leasing Requirements, Sydney, Which May See it Quit Long Time Surry Hills Home
MEDIA giant News Corp has signaled it could relocate from its long-time, owner-occupied premises in Holt Street, Surry Hills, in Sydney’s inner south.
The local News Limited arm has issued a leasing requirement for between 2000 and 12,000 square metres to occupy in the medium and long term. In addition it is looking for 1000 square metres to 5000 square metres of space immediately.
News Limited – which recently announced a restructure which would involve shedding jobs – is looking around Sydney’s western suburbs as well as Chatswood and the North Shore.
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Corporate Giant KPMG Leases Offices on the Sunshine Coast
The corporate giant, which occupies thousands of square metres of high-end space in the major capitals, has leased 500 square metres at the Emporio mixed used development at 2 Emporio Place, Maroochydore.
The seven-year lease is reported by the AFR as having two further five year options.
KPMG is reportedly paying $180,000 per annum to occupy the space, which equates to $360 per square metre, per annum. Colliers International and Savills leased the space on behalf of Reed Property Group.
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Australia’s Population Boom Continues, We’re Now at 22.5 Million
AUSTRALIAN Bureau of Statistics show the nation’s population surged 1.4 per cent last year to 22.5 million.
Victoria led the population surge recruiting 75,000 new residents in the way of immigration, more babies and a net increase from other states. The state now has 5.6 million people.
Mining states Western Australia (which gained 67,400 residents) and Queensland (66,500) were the next fastest growing states.
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Axiom Properties Sells Adelaide Bulky Goods Complex For $18.8 Million
AXIOM Properties has sold a freestanding Bunnings warehouse outlet in Islington, South Australia, to a private investor for $18.8 million.
The 12,600 square metre property includes a building leased to the Wesfarmers owned hardware retailer for 15 years, with two further five year options.
Bunnings started trading from the Islington store three months ago.
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Carbon Tax to balloon construction costs: analyst
THE cost of building an office tower could rise 1.7 per cent under a carbon tax, substantially more than the previous estimates of between 0.2 and 0.5 per cent.
Building a 200 square metre home would also rise by 1.7 per cent, or about $18 per square metre, because of the tax, according to new research prepared for the Property Council of Australia, by adviser Allen Conosulting Group.
An initial price of $23 per tonne of carbon will be imposed on Australia’s top 500 carbon emitters from July 1, 2012. This will rise to $25.50 per tonne in the 2015 financial year.
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More Tenants Lease Space at Canberra Centre
MORE tenants have been announced as leasing space within the Majura Park project in Canberra.
Due to open on March 29, the developer, Canberra Airport, has announced Rockmans, Crossroads, Trendbags, Ally Fashion, EB Games, Subway, Michel’s Patisserie, Oporto and Payless shoes have leased space within the $150 million complex.
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Consortium Led by Bill Moss Buys Cradle Mountain Lodge, Tasmania
FORMER Macquarie Group head Bill Moss, on behalf of a consortium of wealthy investors, has paid $25 million for Tasmania’s Cradle Mountain Lodge.
The asset, developed 25 years ago, has been affected by dwindling tourism numbers which have seen holiday arrivals in Tasmania collapse from 450,000 at a peak in 2007-08, to about 375,000 recently.
Are Melbourne Apartments Still a Safe Investment?
So now what?
After nine years adopting the previous state government’s hugely contentious Melbourne 2030 planning policy – the city’s development landscape is set to change, and apartments may be on the nose.
In one of its first official acts – and as it promised to do before the November 21 election – the Baillieu government has destroyed Labor government planning laws facilitating higher density redevelopment (ie, over three storeys) along all public transport nodes.
In Opposition, Planning Minister Matthew Guy said Melbourne risked becoming dysfunctional, and losing its character permanently, unless suburban apartment construction was curbed.
In power, Mr Guy has committed to a two year audit and consultation program to determine a new model of metropolitan planning.
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NT Government Seeks Submissions to Redevelop Weddell into Tropical Resort
THE Northern Territory Government is seeking submissions to create a new tropical city at Weddell, about 40 kilometres south-east of Darwin.
The first stage of the competition invites developers to consider such matters as planning, engineering and architectural aspects.
Weddell is eventually expected to accommodate 50,000 residents in low, medium and high density style housing. The first blocks should be offered for sale by 2014, according to Weddell Taskforce project manager Brendan Lawson.
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Tips to Get Into the Housing Market
WITH interest rates rising, and government grants falling, it’s a pretty fair guess property prices won’t run away on you.
So if you’re working full-time, possibly renting and wanting to invest in your future, take note of the tips below, to enjoy the next cycle as a home owner.
RAISE CASH:
Saving a first-home deposit – about 10% of the property’s purchase price – is your first goal as a home owner.
Read moreCosts Involved in Selling Your Home
THE costs involved in selling a house can range from about a thousand dollars to tens of thousands of dollars, depending on whether you appoint an agent, the value of your property and the kind of marketing campaign you undertake.
For suburbs within 10 kilometres of the Melbourne CBD for example, an agency will typically charge a commission of between 1.5 per cent and 2.5 per cent of the home’s eventual sale price.
Some agents may also negotiate a variable commission in effect a bonus paid to the agency for any amount the property sells above an agreed amount.
Read moreDoncaster and Doncaster East Suburb Profile
Surprisingly close to the city via the Eastern Freeway, Doncaster is a hilly suburb located about 17 kilometres east of the CBD.
Read moreCBA First to Pass on RBA Interest Rate Rise, and Then Some
The latest interest rate rise, the fourth in the last six months and eleventh straight since 2002, will add about $100 a month to my mortgage repayments.
Read moreWhat to do with St Kilda Road…
St Kilda Road will always be remembered as the precinct to pioneer high rise apartment living in this city. Dotted in amongst the retained mansions, and tired old office buildings, are some of the most prominent apartment towers in Melbourne – including the Kingstoun, Yve – and Melburnian.
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Administrators to Recover Just Half of Mowbray’s Debts From Campus Sales
ADMINSTRATORS for defunct western suburb private college Mowbray are likely to recover just half of the school’s $18 million debts from the sale of its three campuses alone.
In what is described as a complicated sale campaign in which value will depend on potential land usage and in particular if the sites can be rebuilt as residential projects – the three school campuses are speculated to be worth a total of about $9 million.
The largest school – the 17.75 hectare Patterson campus in Melton is expected to sell for about $6 million, according to sources. Two smaller campuses in Caroline Springs, including the 1.25 hectare Residential 1 zoned Town Centre Campus at 183-191 Caroline Springs Boulevard, and the 1.06 hectare Brookfield campus at 5 Stevenson Crescent are expected to each reap about $1.5 million.
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Masterplan Approved For New $3.3 Billion Township: Caloundra South
PLANS for a $3.3 billion new community, known as the Caloundra South project, have advanced with the Queensland Urban Land Development Authority approving the master plan.
The project will be developed over the next 20 to 30 years by Sydney based developer Stockland.
It will include a new commercial centre with about 650,000 square metres of space. It will also include up to 20,000 dwellings capable of accommodating some 50,000 people.
The master plan includes infrastructure, environmental protection, open space, community facilities, commercial uses and housing. It will also include a new town centre, three district centres, six neighbourhood centres and an industrial zone.
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Hilton to Build 8-Level, Upmarket Hotel in the Pilbara
RESIDENTS won’t have to put up with “sub-standard” accommodation around the Pilbara, in Western Australia, with the international Hilton Hotel announcing plans for a $65 million upmarket hotel in central Karratha.
The first Double Tree by Hilton Hotel will include 144 suites, 20 own-your-own apartments, bar, restaurant, fitness centre, pool and car parking.
The proposed eight level building (artist impression, below), in Karratha’s central commercial area will also include three function rooms.
“Today’s announcement is yet another example about how, not the government but the private sector, is embracing the opportunities of the Pilbara,” said minister for regional development and lands, Brendon Grylls.
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GPT Withdraws Half Share of MLC Tower After Failing to Draw a Bid
FUND manager and developer GPT Group has withdrawn from the market its half share of Sydney’s landmark MLC tower.
GPT was firm with its $373.2 million asking price.
As such, it is reported, no bids were received. The AFR reports about 30 international and domestic prospective buyers expressed an interest, however.
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YTL Group Buys Country’s Largest Ever Hotel Property Portfolio: $415 Million For Marriott Sydney, Melbourne and Brisbane
MALAYSIA’s YTL Corp has paid a reported $415 million for a portfolio of three major hotels on the eastern seaboard.
The three hotels – the Sydney Harbour Marriott at 30 Pitt StreetCircular Quay, the Melbourne Marriott at the corner of Exhibition and Lonsdale streets and the Brisbane Marriott at 515 Queen Street – represent what is believed to be the country’s largest ever hotel property portfolio measured by value.
Read moreFormer Royal Saxon Hotel, Melbourne, May be Replaced With Major Apartment Tower
ANOTHER proposal has been lodged that is so large that decision-making power bypasses council to rest with Planning Minister Matthew Guy.
This time, on land behind the historic former Royal Saxon Hotel at 441-447 Elizabeth Street, and affecting an adjoining property at 449 Elizabeth Street, a developer plans to develop a 50-level residential tower with 306 flats but just 119 car park bays.
The property was recently identified in the Melbourne City Council’s central heritage review as worthy of protection, being one of the oldest surviving buildings of its type.
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Department of Climate Change Leases Space at Canberra Building Owned by ATO
THE Australian Taxation Office will play landlord, leasing a large chunk of a Canberra office building it owns to the Department of Climate Change and Energy Efficiency.
The department will pay nearly $1.3 million per annum to lease 2940 square metres of space at the office, on the corner of Akuna and Bunda streets.
It has leased the space – three levels of the building – for one year and nine months, which assumes the Gillard government will serve its full term.
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Langhorne Creek Vineyard, South Australia, Sells For $6.2 Million
BULK wine producer Yellow Tail is reportedly the purchaser of a 310 hectare vineyard at Langhorne Creek in South Australia.
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Paperlinx Quietly Sells Wesley Vale Manufacturing Plant, Tasmania
PAPER manufacturer Paperlinx is selling its Wesley Vale manufacturing mill, in northern Tasmania, as part of plans ceasing manufacturing in that state.
The ASX-listed company can expect some $5 million, sources say, for the 56.1 hectare block which includes a vacant 30,000 square metre manufacturing facility built in the late 1960s.
Knight Frank agents Andrew Macqueen and Rob Dixon are expecting the site to arouse interest from owner occupiers, or an institution which may redevelop the site into an industrial park. The site is near the Devonport Airport, sea ports, and the docking station for the Spirit of Tasmania, which commutes to Station Pier, Port Melbourne.
Read moreKylie Minogue reportedly pays $A25 Million for One Hyde Park apartment
MELBOURNE-born pop star Kylie Minogue is reported to have paid about $A25 million for an apartment within the London complex dubbed as being the most expensive apartment building in the world.
Minogue is reported to have bought a three bedroom flat at the One Hyde Park project, according to various British media. The complex being developed by the Candy Brothers will include a private cinema, 21-metre swimming pool, private sauna, gym, golf simulator, wine cellar and squash courts.
Residents will be able to order room service from the neighbouring Mandarin Oriental Hotel in Knightsbridge.
Read moreNew Plans to be Lodged to Redevelop Darwin’s Former Bunnings Site
Revised plans will be lodged to redevelop Darwin’s old Bunnings site.
New plans will include more offices, and fewer apartments, and are expected to be ready for review by April, according to NT News.
The original design for 58 apartments will be reduced to 42.
Renovating, and Building Equity in Your Home: Tips For Owner-Builders
HOME renovation is one of the soundest investments an owner-builder can make. But with about a quarter of makeovers estimated to be done by owner-builders, you have to do it right.
Renovation-related television shows, magazines and seminars are inspiring would-be renovators and making people realise that investing in real estate does not necessarily mean buying an investment property. Many are unlocking potential in the family home and benefiting from the tax-free windfall.
“Property renovation is one of the soundest investments you can make,” says Robert Caulfield, managing director of Archicentre, which provides pre-purchase and renovating advice to home buyers, builders and renovators. “When done properly, it can make you money – and have you living in style.”
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