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Apr 4, 2022
Adelaide - Recently Crowned Australia's Most Liveable City, But Does It Stack Up For Property Investors?
With a burgeoning foodie scene, an art, music, and festival calendar and premium wineries on your doorstep to rival any other Australian city, plus some spectacular coastline and outdoor adventures to be explored, it’s hardly surprising Adelaide has been crowned Australia’s most liveable city. In fact, Adelaide came in third in The Economist Intelligence Unit’s Global Liveability Index for 2021, positioning it as a hot spot both globally and domestically. But how does it stack up from an investment point of view? Investment appeal Bordered by parklands and natural beauty, Adelaide’s known as a city where you can simultaneously do business and breathe. It’s this lifestyle balance that many are seeking, which is contributing to Adelaide’s reputation as a fantastic place to live. Work-life balance aside, here’s what’s positioning Adelaide as a hot investment spot: Poised for long-term economic growth With $3.8 billion BioMed City – one of the largest health and life sciences precincts in the Southern Hemisphere – setting up camp right in the heart of Adelaide and some of the world’s largest businesses like Google, Amazon, Deloitte, MIT, PwC, Accenture and The Australian Space Agency all opening the doors to new offices in Adelaide, the economic future for Adelaide is looking very bright. With economic growth comes employment Due to the sheer volume of large-scale businesses calling Adelaide home, employment opportunities are substantial. Add to this the fact that South Australia has become the country’s ‘Defence State’, which has created thousands of jobs (it currently accounts for around 1.5% of all jobs in South Australia). This number is pegged for further growth, with French shipbuilding company Naval Group predicted to create another 4,000 jobs in the next seven years. Local government infrastructure investment Adelaide is a globally connected city, and the revolutionary Ten Gigabit Adelaide landmark project positions the city as the first in Australia with a city-wide 10Gbps fibre optic network. In addition, there is over $3.6 billion of existing and planned CBD infrastructure developments, including the renewed Riverbank precinct, which attracts millions of visitors annually. The education draw-card With world-class education institutions (the city’s universities are ranked within the top 2% of institutions in the world), over 140 public and private schools, 25 English Language Intensive Courses for Overseas Students (ELICOS) institutions and 13 private higher education institutions, students head to Adelaide in droves, making rental accommodation in continually high demand. Where you’ll find Adelaide’s investment sweet spots Not surprisingly, the CBD’s inner-ring suburbs remain the most attractive from a growth and rental perspective; however, outer-north, and southern suburbs are seeing similar levels of growth. And with Adelaide’s median house price sitting just over $570,000, it presents significant value as the third most affordable capital city behind only Darwin and Perth. From a rental perspective, Adelaide has the least available rental space of any Australian capital city, with vacancy rates of just 0.6%. According to Canstar’s Rising Stars Australian Property Market Report, here’s where you’ll find Adelaide’s 5 best suburbs to invest in: 1. Belair – with a 7% rise in median house prices in the last quarter of 2021 alone, this suburb on the south-eastern foothills of Adelaide has easy transport options to the CBD, great schooling options and Belair National Park on its doorstep. All this results in strong rental demand and opportunities for long-term capital gains. 2. Broadview – currently undergoing a period of transformation as older houses get replaced with new, Broadview in the City of Port Adelaide Enfield is a family-friendly suburb with affordable housing. Rental demand is strong, with near-zero vacancies and a median price on the rise (up 10% to $600,000 in the last quarter of 2021). 3. Eden Hills – close to the city but with a country feel, Eden Hills has seen a climb in house prices in the last 12 months, with a current median house price of $660,000. Just 20 minutes to the CBD and 15 minutes to the beach, rental properties are in high demand, and the current vacancy rate sits at 4%. 4. Elizabeth Vale – the northern suburbs of Adelaide include some of the most affordable (some with median house prices below $200,000); however, with Adelaide in growth mode, these suburbs present great future value for investors. Elizabeth Vale in the Playford Region has a large rental population (with over 42% of residents living in rental properties) and near-zero vacancy rates. 5. Golden Grove – also in the northern precinct, Golden Grove is a leafy suburb within the City of Tea Tree Gully. It features excellent infrastructure, easy access to the CBD, fantastic schooling, and plenty of amenities, making it a desirable suburb for renters and homeowners. The median house price jumped almost 10% in the last quarter of 2021 (to $565,000). Ready to invest? Before you hit the open home trail, it’s essential to get your ducks in a row. This includes getting your finances in order, understanding your budget, and learning the intricacies of the local market. Here’s what you need to consider: Explore equity in your existing home – in short, equity is the difference between the market value of your current home and the balance of your mortgage. If you’re in the fortunate position to have built up equity (by paying down your mortgage, through capital gains, or a bit of both), your lender can advise you how much usable equity you have available to invest. While you’ll need to speak to your lender to get a bank valuation on your property, your local First National Real Estate office can provide an indicative market valuation to get the ball rolling. Identify your goals and stick with them – while it can be easy to get swept up in the appeal of a potentially lucrative do-up or a home you might like to live in for retirement, keep your end goal in mind. With investment properties, ongoing maintenance, tenant demand, and potential for capital gains should be at the forefront of decision making. Understand the local legal intricacies of sale and purchase – if you’ve purchased a property before, you might think you’re familiar with the process from a legal perspective. However, different states have different intricacies that you need to be aware of. Things like due diligence, vendor statements, and the type of sale (i.e., private treaty versus auction) can all differ, so it pays to get a property professional involved and make sure you’re well versed. Understand your obligations as a landlord – if you’re looking to rent your investment property out, you’ll need to be across your rights and responsibilities. Legal Services Commission South Australia provides plenty of detail around residential tenancies. If it’s your first time investing, this Guide for First Time Investors is packed with plenty of practical tips, and First National Real Estate is always on hand to share our local knowledge and expertise. And if you’re considering a rental investment, our property managers are a wealth of information regarding potential rental returns. DISCLAIMER Please note the information provided here is general in nature and should not constitute legal, financial, or professional real estate advice. You should make your own inquiries and obtain independent professional advice tailored to your specific circumstances before making legal, financial, or real estate decisions. Click here for full Terms of Use. Residential property is affordable While median house prices are experiencing growth, Adelaide has one of the lowest residential property prices of all Australian mainland capital cities.
Mar 4, 2022
Inspirational Women That Shone Bright During The Global Pandemic
We’ve all been challenged and pulled in several different directions during the pandemic, and women have been no exception. Several studies have shown that many women have suffered at home, with their health and work, and more so, compared to their male counterparts. And a lot of this comes down to women carrying more of the burden in terms of domestic responsibilities. Despite this added pressure, many women have thrived and inspired others throughout the pandemic – acting as a pillar of hope during such a difficult period. International Women’s Day on the 8th of March (with a fitting theme of #BreakTheBias) is an excellent opportunity to recognise and highlight some of these successful and inspirational women. International Women’s Day this year is committed to highlighting gender equality and building on the considerable progress towards a non-discriminatory world made in the last 200 years. While the Forbes annual list of The World’s 100 Most Powerful Women is promising – featuring the most CEO’s since 2015 and 19 heads of state, unfortunately, like much in 2021, the state of female power globally has taken a hit in the last two years. This is why it’s perhaps more important than ever to #BreakTheBias and continue to highlight issues of gender inequality and celebrate women’s achievements. Not even a global pandemic can slow these women down! In no particular order, here are the women we believe are worthy of our applause this International Women’s Day. [caption id="attachment_8392359" align="alignnone" width="982"] Source: The Independent[/caption] 1. SHEMARA WIKRAMANAYAKE Taking out a spot on both the Fortune Most Powerful Women of 2021 and Forbes 2021 Power Women list, Shemara is the first Asian woman to head an ASX200 listed company as CEO and Managing Director of one of the world’s foremost infrastructure management firms, Macquarie Group. Since taking the helm at Macquarie Group, she’s proven to be a vocal and engaged leader on climate change – working with The Global Commission on Adaption to provide insights and recommendations to inspire action among global leaders. 2. GRACE TAME Australian of the Year Awards 2021 recipient Grace Tame is an unwavering activist and advocate for survivors of sexual assault. She’s used her voice to push for legal reform and raise public awareness around the impacts of sexual violence. As a result, former Liberal staffer Brittany Higgins went public with rape allegations linked to Parliament House – Grace Tame stood with Brittany Higgins, protesting against the Australian Parliament’s ongoing abuse and discrimination of women in Australia. 3. JACINDA ARDERN Proving that gender isn’t a barrier, Jacinda Ardern rose to power as the youngest female leader in the world. She’s set new norms, becoming a mum while in power and sharing that her partner would be a stay-at-home dad. Jacinda has received global praise throughout the pandemic for her uniquely empathetic and open communication style, even being labelled a ‘masterclass COVID response’ and a ‘masterclass in crisis leadership’. Under her leadership, New Zealand has had a united COVID response, with high vaccination rates and low hospital and mortality rates. 4. JULIA GILLARD Former Prime Minister (and the first female Prime Minister in Australia) Julia Gillard was in 2021 awarded a Doctor of Law honoris causa in recognition of her ongoing and tireless commitment to education, gender equality, and inclusion. Stemming from a fierce determination, Julia has delivered nation-changing policies and cast a spotlight on inequalities and misogyny in Parliament that many women have silently endured. [caption id="attachment_8392360" align="alignnone" width="850"] Source: LawyersWeekly[/caption] 5. GINA RINEHART While she may be Australia’s richest citizen with an estimated $21.7 billion empire built on iron-ore, Gina also takes out a spot in Australia’s Top 25 Philanthropists, donating an estimated $10 million in 2020. In 2021, she was awarded an Order of Australia for the significant impact Hancock Prospecting has had both directly and indirectly on millions of Australians. From job creation, revenue to build schools, roads and hospitals, and economic opportunities through international trade, the vast and varied influences Gina Rinehart has had on Australia are undeniably dramatic. 6. ROBYN FENTY, AKA RIHANNA Surprisingly, the wealthiest female musician on the planet has not built her wealth on music alone. In 2017, Rihanna launched Fenty Beauty – a cosmetic company founded on the principle of making “people everywhere [feel] included”. In 2021, Barbados officially declared Rihanna as a national hero, for above all else, her extraordinary commitment to the land of her birth. Born in Barbados, Rihanna has never let go of her Bajan accent and has remained connected to her Caribbean heritage through her music. She is proving that diversity is a powerful thing! [caption id="attachment_8392358" align="alignnone" width="1024"] Source: Billboard[/caption] 7. ASH BARTY Young Australian of the Year Awards recipient Ash Barty is ranked the world’s number one singles tennis player by the Women’s Tennis Association but is perhaps the most down-to-earth pro-athlete out there. While the glitz and glam of a high-profile tennis champ lifestyle beckon, Ash has been applauded for being an athlete that simply wants to play like a superstar but not live like one. As a First Nations woman, Ash also serves as the National Indigenous Tennis Ambassador for Tennis Australia. 8. ALL WOMEN IN MEDICINE Not just one individual, but all women in medicine deserve some serious praise this International Women’s Day. We need to celebrate our many nurses, doctors, scientists, and specialists who have worked tirelessly during the pandemic. Globally, women make up much of the health workforce (almost 60%). However, female health workers have traditionally been significantly underrepresented in senior positions. Interestingly, there has been a shift during the pandemic. The number of female presidents-elect and presidents leading medical colleges across Australia and New Zealand jumped significantly in 2021, which is inspiring for future graduates. With challenge comes opportunity Whether it’s a global pandemic or other adversity, these women all have one thing in common – they’ve risen to the challenges and in doing so, thrived and inspired others. For a look at some of our own inspirational young women (and men), keep an eye on the 7NEWS Young Achiever Awards. First National Real Estate is proud to sponsor the Leadership Award (in Tas, Vic, NSW/ACT and QLD), which acknowledges young people who set an example through their leadership and drive, paving the way for others to follow, as well as the Innovation Award (in WA and SA), which recognises young people that have demonstrated creative and innovative thinking. DISCLAIMER Everyone has their own path and forging this during a global pandemic can be incredibly challenging. If you’re struggling and need some support, reach out to friends or family, or contact Beyond Blue on 1300 22 4636 or Lifeline on 13 11 14. In New Zealand, call Lifeline on 0800 LIFELINE or simply text HELP to 4357. The following advice is of a general nature only and intended as a broad guide. The advice should not be regarded as legal, financial or real estate advice. You should make your own inquiries and obtain independent professional advice tailored to your specific circumstances before making any legal, financial or real estate decisions. Click here for full Terms of Use.
Mar 4, 2022
Overseas Travel in 2022 – Everything You Need to Know
Two years into the pandemic and it’s little wonder some of us are getting seriously itchy feet. Whether you’re consumed by wanderlust or desperate to reconnect with friends or family overseas, it’s felt like a long time between stamps in the passport and like the light at the tunnel keeps getting further and further away. However, as the world learns to live with the pandemic, we’ve seen borders reopen and restrictions ease, and more and more countries begin to welcome visitors with open arms (albeit with some restrictions). Unsurprisingly, we’re feeling a little wary about hopping on a plane – it still feels complicated, confusing, and risky. So, is it worth it? And what do you need to know before you go? Travel. It’s in our DNA Australians and Kiwis are an intrepid bunch; in fact, it’s something we’re known for worldwide. Pre-pandemic, it wasn’t unusual for more than 10 million overseas trips to be made by Australians annually. Whether it was quitting a job to live overseas, heading to Indonesia on a surfing trip, hitting Hawaii for some serious shopping or hiking in Nepal, the motivation to leave our shores searching for something new is ingrained in our culture. While spontaneous trips may still be off the cards for a while, as border restrictions ease – with Australia fully reopening the borders and the New Zealand Government put a 5-step plan in place and reopened borders from 27 February – it’s entirely possible to reignite your passion for travel and start planning to board a plane destined for an overseas port. Here’s what you need to know… Doing your research is more important than ever Gone are the days of whipping out your Lonely Planet guide and planning your trip on the fly; the new era of COVID travel requires in-depth research about restrictions in the country you’re heading to, what would happen if you contracted COVID-19 while overseas, and requirements for returning home. Smarttraveller has plenty of helpful advice for Australian travellers, and Safetravel assists New Zealanders. Ensure all your bookings are flexible While you’ll be crossing your fingers, you won’t need it; it’s crucial to read the fine print and get across the cancellation policies for everything you’re booking ahead. From flights to accommodation to rental cars and tours, check what penalties you may face for cancellation and whether you would receive a credit or refund. If there is any room for interpretation, it pays to check in with the service provider and have in writing what will happen in the event of a last-minute COVID-related cancellation. Overseas holidays are expensive – and painfully so if a pandemic wreaks havoc with your plans. Insurance is no longer a ‘nice to have’ Travel insurance is essential, but not just any insurance policy will do. The pandemic has changed the risk involved with travel significantly – not just in terms of health but also in relation to the costs of cancelled flights. As a result, insurers have tightened up their policies, so it pays to comb the fine print. For example, many insurers will cover costs if your trip is cancelled or cut short due to you getting COVID-19. Still, many policies won’t cover you for travel changes due to large-scale, government-mandated restrictions or lockdowns. And don’t forget to check that COVID-19 medical treatment and hospital cover is included in your policy; hopefully you won’t need it, but better to be on the safe side. Check all the entry requirement boxes Make sure you’re aware of all the requirements in place at your destination to avoid costly disappointment. Vaccination status is essential in many countries to avoid quarantine; however, proof of a negative PCR test is acceptable in some destinations. Is your passport up to date? It’s been a while…don’t forget to check the validity of your passport! And remember, while it’s officially valid until it expires, many countries require your passport to have 3-6 months of validity remaining on entry. Get excited and make a plan After two years in the making, you want this to be a trip to remember! Planning a trip and sitting down to work on an itinerary is fun and exciting, and believe it or not, research has shown that planning a trip makes you happier than actually taking it. Planning acts like a mini-mental holiday – every time we sit down to think about it and visualise what’s to come, our anticipation and excitement builds. Perhaps more importantly, putting together a plan will help you get the most out of this much-needed trip. And be sure to leave a copy of your itinerary with your loved ones to help ease any travel nerves. Ready to go, but where can you go? While we’ve become accustomed to searching and booking online, with all the red tape and various restrictions in place, the wisdom and experience that a local travel agent provides can be valuable for some much-needed reassurance. If you’re looking for holiday inspiration, destinations closer to home such as our Pacific Island neighbours (Fiji is currently welcoming fully vaccinated Australians, and the Cook Islands is welcoming vaccinated New Zealand travellers – quarantine free) both offer blissful island holidays and some desperately needed support to nations that rely heavily on the tourism industry. If you’re interested in heading further afield, Finder has a comprehensive and regularly updated list of destinations Australians can travel to. Remember to keep an eye on the requirements for returning home on Smarttraveller (Australia) or Safetravel (New Zealand). 5 quick tips to help you stay safe out there 1. Stock up on sanitiser and soap – look for sanitiser with at least 60% alcohol content and pack bars of soap for thorough handwashing (which is often more effective than sanitising). 2. Keep your distance – putting distance between yourself and potential infection is one of the most effective barriers. 3. Mask up – face masks are an everyday essential, so make sure you stock up on both reusable and disposable masks for flights, and higher risk settings. 4. Glasses provide an extra level of protection – whether you’ve got perfect vision or a prescription, glasses can provide an additional barrier against the droplets of COVID-19. Wearing a pair of glasses in close-contact settings such as flights will provide you with extra protection. 5. Stay hydrated – hydration helps our immune system stay strong, so pack a reusable water bottle. A bottle with a straw can be handy for taking a sip without completely removing your mask. Stay safe and make the most of the memories Overseas travel right now isn’t the type of carefree adventure that some of us may be accustomed to, but with some careful planning and some safety precautions, it’s a great time to start thinking about your next journey. Happy travels! DISCLAIMER Please note that the information provided here is general and should not constitute professional advice. You should always check and follow the latest state and government health advice. The following advice is of a general nature only and intended as a broad guide. The advice should not be regarded as legal, financial or real estate advice. You should make your own inquiries and obtain independent professional advice tailored to your specific circumstances before making any legal, financial or real estate decisions. Click here for full Terms of Use.
Mar 4, 2022
Home Styling Podcasts - Our Top 8 Listens for 2022
Podcasts. Thanks to our insatiable appetite to multitask, this booming entertainment trend is pegged for further growth in 2022. And while we reckon more podcasts are a good thing, with such a phenomenal breadth of content at our fingertips (or earbuds), it makes it tricky to mine for podcast gold. Have no fear; we’ve compiled the hottest home styling podcasts – so you can stay abreast of the hottest interior trends for 2022. But first, let’s briefly delve into the world of podcasts. Why do we love them so much? While relatively new to the entertainment scene (formerly known as the less sexy ‘audio blogs’ of the 1980s), the proliferation of smartphones and our seemingly endless access to data has driven podcast consumption to insane levels. With over 2 million podcasts available (equating to over 48 million individual episodes), our appetite for these aural companions is enormous. In 2020 alone, an estimated 100 million people listened to a podcast each month, and this number is expected to reach 125 million in 2022. So, what is it that we love so much? They’re a multi-taskers dream – As we slide back into our busy routines, the podcast format integrates seamlessly into our lives. Whether it’s during your morning dog walk, while you’re stuck commuting or whipping up dinner, podcasts provide bite-sized chunks of audio content that are easy to consume and easy to control. According to a recent study, 49% of podcast listening happens at home, 22% while driving, 11% at work and 8% while exercising. There truly is something for everyone – From true crime to comedy, news, opinion, and pop culture, pretty much everything can be found in podcast format. And with content regularly updated (typically weekly, sometimes daily), you’ll never be caught without something to keep you informed or entertained. Simply swipe and listen – Podcasts are so simple to consume. If you have a smartphone, tablet, or computer, it takes next to no effort to get listening. And best of all, most podcasts are free through your browser or an app (unless using a premium listening app like Spotify). What are we listening to in ’22? According to Statista, comedy takes out the top spot for the most listened to genre (and The Podcast Charts by Spotify tell a similar story). Hardly surprising while the world shoulders a global pandemic! And while there’s plenty to make you giggle, we’re here to talk home styling. So, let’s zero in on our top 8 podcasts that will help you transform your home into a much-needed haven in 2022: 1. Home Style with Shaynna Blaze – Award-winning interior designer Shaynna Blaze is well known for her TV roles on Selling Houses Australia and The Block (amongst others), meaning she has plenty of real-world tips, behind the scenes anecdotes and interesting insights to share. 2. The Daily Home Edit – Helmed by the Home Beautiful team, The Daily Home Edit podcast delivers a daily dose of big and small topics, tips and tricks, styling hacks alongside renovation and design advice, all designed to help you live beautifully. 3. Style Rules – Another Home Beautiful (HB) creation, Style Rules, involves HB editor Sarah Burman and style editor Fiona Michelon sitting down to debrief our favourite reno show, Home Rules. They also discuss style in general and what’s trending in the interior design world as it happens. 4. House of Style – Previous rivals in the magazine styling world, interior designer Jono Fleming and interior stylist Kerri-Ann Jones, eventually struck up a friendship that led to them producing this fantastic podcast. They chat to some of Australia’s leading designers, makers, and industry personalities to discover what made them so iconic. 5. Reno Radio – With 117 renovations under her belt, Naomi Findlay has plenty to share across renovating, design and styling. Whether you are in it to make money, have fun or create your dream home, she reveals valuable tips and insider secrets to help you nail it. 6. Decorate Like a Design Boss – In this podcast, professional Interior Designer Kimberly Grigg shares weekly secrets for creating beautiful and functional spaces within your home. She covers everything from helping listeners identify their unique style, sharing design crimes through to bringing life back into dated spaces. 7. Building with BuildHer – Not strictly interior styling, but we think this one deserves a mention for its incredible depth of content. The BuildHer Collective was created to help women with building and renovating, and this podcast shares the gems they’ve learnt along the way. 8. Decorating Tips and Tricks – As the name suggests, this one is full of bite-sized advice, acting as your own personal decorator. With a back catalogue of over 500 episodes, it’s easy to get consumed by this one! What is the 2022 home styling outlook? During the pandemic, we all learnt a little about the uplifting effects of nature. This is having a significant impact on interior trends for 2022, as natural light, an emphasis on glass, nature-inspired colour palettes such as tones of green, ochre and clay browns come to the fore. Natural surfaces like stoneware, timber, terracotta, and marble feature heavily in everything from backsplashes to bathtubs – bringing the calming effects of the outdoors in. To find out how to bring these key trends to life in your home, all you need to do is embrace your inner multi-tasker and get listening! DISCLAIMER The following advice is of a general nature only and intended as a broad guide. The advice should not be regarded as legal, financial or real estate advice. You should make your own inquiries and obtain independent professional advice tailored to your specific circumstances before making any legal, financial or real estate decisions. Click here for full Terms of Use.
Jan 5, 2022
State's tightest rental market cuts construction fees
Goondiwindi Regional Council (GRC) is introducing a year-long rebate for all Council fees and charges associated with constructing new multi-dwelling buildings such as units, townhouses, duplexes and granny flats. Real Estate Institute of Queensland (REIQ) COO Dean Milton said the move, welcomed by the real estate peak body today, was an exemplary way Council’s could help incentivise much-needed new housing supply. “With the Goondiwindi region hovering barely above the ‘no vacancy’ line at just 0.1 per cent for the past two quarters, it’s welcome news to see Council acting to remove financial barriers to new housing supply,” Mr Milton said. “The REIQ has been advocating for innovative ways to incentivise investors to bring more housing supply to market, both in the short and long term. “In this vein, we recently welcomed the State Government opening up renting granny flats to a separate household and similarly, its pleasing to see GRC trying a carrot (rather than a stick) approach to maximise new housing opportunity in a targeted way.” Meanwhile, Logan City Council will introduce new secondary dwelling infrastructure charges from February 2023, to match the charges for auxiliary units in Logan. “Logan’s vacancy rate is 0.7 per cent which is still a far cry from what we consider ‘healthy’ at 2.6 – 3.5 per cent,” Mr Milton said. “Our view is that introducing new fees acts as a deterrent for property owners to bring secondary dwellings to the rental market, and is contrary to the intension of the amended regulations for granny flats. “Private investors are playing a really vital role, housing a significant proportion of the community, and there’s opportunity for government to do more to encourage and incentivise that.”
Dec 15, 2021
Commercial Market Update - Brisbane Cityscope November 2021
The latest research from Brisbane Cityscope shows in the last three months sales figures have significantly increased. The last three months to the beginning of November 2021 recorded 14 sales for a total of $301.4 million, with $287.5 million for commercial, $8 million for commercial strata, $1.6 for retail and $4.3 million for retail strata. In comparison, the last three months to the beginning of August 2021 recorded 23 sales for a total of $730.5 million, with $690.4 million for commercial, $7.7 million for commercial strata, $1.6 for retail, $4.3 million for retail strata and $100,000 for other . The 12 months leading up to the beginning of November 2021 recorded 54 sales for a total of over $1.366 billion, more than $169.1 million lower than the recorded figure for the same time period the year before. The table below shows sales recorded for the past eight updates of Brisbane Cityscope: The most significant sales recorded this quarter were: Following an expressions of interest campaign which closed November 3, 2020, the State Law Building on Ann Street in Brisbane has been sold for $205 million to HAPP 50 Ann Property Pty Ltd on behalf of Hines Asia Property Partners. The sale represented an initial yield of 7.75% on passing income of $15,887,770. The State Law Building was built in 1976 and is known as the ‘Gotham Building’ locally. It is fully leased The State of Queensland (Represented by the Department of Public Works) and a café. Properties currently listed for sale include: Unit 2, Solace Financial House, 97 Creek Street. An 82 sqm unit on the ground floor Unit 3, Oaks Casino Towers, 151 George Street. A 92 sqm retail unit on the ground floor to George Street. Unit 301, Waterside, 471 Adelaide Street. A 134 sqm ground floor unit fronting Adelaide Street. For sale with a reduced asking price of $1,225,000; agent, First National Commercial (George Koukides). The unit was advertised with a net income of $80,400 pa. Properties currently under contract (conditional or unconditional) include: 100 Creek Street, a 20,223 sqm, 25-storey office building with ground floor retail space. Under contract to Cromwell Direct Property Fund with settlement expected in November 2021; 307 Queen Street, a 19,670 sqm, 102m office building with ground floor retail space. Under contract for around $214,000,000 to interests associated with PGIM Real Estate and Fortius Funds Management; The Brisbane Club Tower, a 21-storey, 10,836 sqm office building. The leasehold is under conditional contract to CHAB Office Trust for $31.5 million and the freehold interest is under conditional contract to CHAB Office Trust for $32 million, subject to a lease back of up to five years plus options. The transactions are expected to settle simultaneously during 2021.