Monthly Archives: June 2010

Property Council of Australia press release

Sydney Wharf has been named Australia’s best residential development at the fourth annual Property Council of Australia Rider Levett Bucknall Innovation and Excellence Awards. The luxury residential and marina complex was honoured tonight with the Netstrata award for residential development at the gala award dinner at Star City in Sydney. Property Council of Australia CEO Peter Verwer said the development, completed by Charter Hall, AMP Capital Investors and Babcock and Brown, represents a significant milestone in the Pyrmont urban renewal vision.
“The redevelopment of Sydney Wharf has seen not only a physical transformation, but also a reversal of the closed, privatised nature of the site’s former maritime use,” Mr Verwer said.
“Sydney Wharf now provides residents, visitors and the wider community with access to this picturesque harbourside location. Sydney Wharf has achieved something extraordinary.”
The conversion of this site has seen the construction of 104 luxury apartments over two buildings, ringed by over one hectare of publicly accessible timber boardwalks and urban parkland. This is complemented by a 54 berth marina which provides direct water access to Sydney’s sparkling harbour.
Mr Stephen Mee, Director of Rider Levett Bucknall Sydney said Sydney Wharf has delivered exceptional urban outcomes for the local community.
“The general public is now able to enjoy the spectacular city and harbour views offered from the site as they stroll around the perimeter boardwalks which complete the Pyrmont to Darling Harbour foreshore link,” Mr Mee said.

LED lighting reducing costs & CO2 emissions

The strata managers at Netstrata attended a short seminar this morning presented by Enlighten Australia a company specialising in the installation of LED lighting to enable strata schemes to reduce their energy consumptions. Some of the benefits of LED (Light Emitting Diodes) lighting include:

  1. Reduced Electrical Consumption – Savings of up to 76% have been achieved in retrofitting fluorescent tubes with LED tubes.
  2. Reduced Maintenance – LED’s last much longer than traditional lighting.
  3. No toxic Chemicals
  4. Reduced load on Air Conditioning – LED Lighting produces 65% less heat

The strata managers will be offering their client schemes with the opportunity of auditing their energy requirements to see how much energy can be saved and the total reduction of CO2 Emmissions that can be achieved. For more information contact your strata manager.

What do Strata Levies pay for?

What Do Strata Levies Pay For?

Strata Levies contribute to the operating expenses of strata properties and are divided into 2 separate funds being:

Administration Fund – intended for current operating costs; such as:

Insurances
General Maintenance of shared or what’s known as common property
Mowing and gardening of common property
Cleaning of common property
Water consumption
Electricity Costs

In a perfect world the administration fund would have a $0 balance as you only budget for what you spend.

Sinking Fund – intended for the long-term maintenance of the buildings and improvements to the property, such as:

Replacing common area carpets
Repainting of common areas
Replacement of guttering
Replacement of garage door

How and when are levies determined?

Levy contributions are reviewed yearly by the owners at their annual general meeting, the amount of levies you pay is determined by the owners at the meeting based on the budget sent out with the meeting notice, it is important to look at the meeting notice carefully so you are fully aware what your levies are likely to be.

Congratulations to Sydney Wharf

Congratulations to Sydney Wharf, the winners of the Netstrata Award for Residential Development at the 2010 Property Council of Australia National Awards.

Netstrata is passionate about high quality strata developments and was pleased to be associated with such a prestigious award.

Netstrata-Residential-WinnerSydney Wharf is, a luxury waterfront residential development consisting of 104 apartments, basement residential parking and a 54 berth marina facility that includes a marina office and a café. Sydney Wharf is the last finger wharf development on Sydney Harbour. The development will include an indoor pool and gym and reserved visitor parking for 20 vehicles. An on-site concierge service will be provided for the convenience of residents.

Sydney Wharf embraces its magnificent harbour location. The 45 east-facing apartments in Wharf 8 enjoy magnificent views of Sydney Harbour and the city and 59 apartments in Wharf 9 have a peaceful westerly perspective over Sydney Wharf’s private marina and adjoining parkland.

Shore Dolls Point

Netstrata are pleased to announce that they have been selected to undertake the strata setup work for the  prestige Shore Development located close to Botany Bay in Dolls Point. Shore Dolls Point is being developed by Prestige Apartments Australia and brings a new level of living to the St George District the project website can be viewed at www.shoredollspoint.com.au.

StrataManagerShore-300x168 Shore-Strata-Manager-2-300x168 Shore-Strata-Manager-3-300x168

The role of a Strata Manager – a snap shot

  • Act as Chairperson, secretary, treasurer and public office of the scheme
  • Arrange for day to day routine maintenance, repair or replacement of common property and personal property of the scheme
  • Arrange an attend annual general meetings and  other meetings of the scheme.
  • Effect and renew insurance required by the Acts
  • Issue notice to comply with by-laws.
  • Keep and maintain the schemes records required by the Acts
  • Prepare budgets and financial reports required by the Acts
  • Keep and attest the affixation of the common seal
  • Pay all due accounts of the schemes as and when they become due
  • Implement the decisions of the scheme.

Home values flat in April 2010

Home values flat in April as heat comes out of Australia’s housing market
Housing markets outside the capital cities record no growth in 2010

Based on the industry-respected RP Data-Rismark Hedonic Home Value Index, which uses the nation’s largest sales database combined with the most sophisticated index technology, Australia’s capital city housing markets recorded virtually no capital gains in the month of April, with home values up just 0.2 per cent (0.3 per cent seasonally adjusted).

The slowdown in capital growth comes on the back of 16 months of strong rises in home values. The anemic growth in April also contrasts strikingly with the market’s circa one per cent per month capital gains since the start of 2009.

Across Australian capital cities, home values were 11.9 per cent higher in the 12 months to April 2010.