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<a href="https://www.smartcompany.com.au/growth/31355-why-jb-hi-fi-keeps-defying-analysts-predictions" target="_blank">JB Hi-Fi</a> has defied a tough retail environment to post a strong <a href="https://www.jbhifi.com.au/documents/news/99_2014-01-28_10-10-41.pdf" target="_blank">half-year trading update</a> confirming that December half net profit is expected to rise 10%.
The discount electrical retailer’s chief executive, Terry Smart, released the trading update “in view of recent announcements from other retail companies”.
This appears to be a reference to profit downgrades from retailers such as The Reject Shop and Super Retail earlier this month.
But in contrast to The Reject Shop and Super Retail, JB Hi-Fi’s net profit rose 10% to $90.3 million in the six months ended December 31, compared with $82.1 million in the year-earlier period.
Total sales were up 6.8% to $1.94 billion and earnings before interest and tax rose 7.5% to $132.9 million and EBIT margins improved four basis points to 6.8 per cent and gross margins by 11 basis points to 21.6%.
Same-store sales were up 2.8% in the six months ending December.
Che Cabris, senior commercial director at research company Global Reviews, toldSmartCompany JB Hi-Fi's success in a competitive market can be attributed to consumers belief that the retailer is price competitive and trustworthy, which also results in customer loyalty.
Research published by Global Reviews last week shows JB Hi-Fi is the preferred brand of Australian consumers looking for an online store to purchase a 46-55” television through.
The study followed the journey consumers took between search and the retail brands, including who they knew of, which brands they visited, shortlisted and finally would prefer to buy from.
JB Hi-Fi was initially recalled by 66% of those who could recall a brand, it was then visited by 49% of study respondents and shortlisted by 68%.
The retailer had a 33% preference rate with 52% of those who preferred JB Hi-Fi doing so because they’d used the retailer before and an equal amount said it was because JB Hi-Fi had the best prices.
“This is not to say that other retailers are not price competitive or trustworthy, but as JB Hi-Fi was the top preferred site these were the main reasons for people selecting them and what people recognise them for,” Cabris says.
Harvey Norman was recalled by 63%, visited by 46% and shortlisted by 55% while The Good Guys were on 42% recall, 43% visits and 60% shortlisted.
JB Hi-Fi will release its full half year results on February 3, so the retailer is unable to provide any comment until then.
This article first appeared on <a href="https://www.SmartCompany.com.au" target="_blank">SmartCompany.</a>
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JB Hi-Fi defies rough retail environment, posting 10% profit increase

<html><body><div class="article-fulltext">Australians spent $2.738 billion in online sales between March to September last year, according to <a href="https://www.abs.gov.au/ausstats/abs@.nsf/Latestproducts/8501.0Main%20Features2Nov%202013?opendocument&amp;tabname=Summary&amp;prodno=8501.0&amp;issue=Nov%202013&amp;num=&amp;view=" rel="nofollow">figures released today</a> by the Australian Bureau of Statistics.
The ABS retail trade data has for the first time included a separate category for online sales in a time series from March 2013 to September 2013.
The data shows the proportion of total retail turnover, which was derived from online retail sales has varied from 1.7% to 1.9% between March and September 2013.
ABS statistician Paul Slater told SmartCompany the new information provided a measure of what proportion of domestic retail sales is derived from online retail trade.
“It will help measure the response of Australian retailers to the online opportunity,” Slater says.
The statistics are intended to assist in the development of microeconomic policy and follow on from data released last year which found 1.8% of retail turnover in May 2013 was derived from online retail sales and of that percentage, 40% was from pure play online retailers.
But the figures do not include international retailers’ online sales in Australia.
“The existing publication is designed to measure sales by Australian resident businesses so sales by overseas retailers would be out of scope,” Slater says.
He says there are “no plans at the moment” to incorporate international sales into the figures, an omission which the Australian Retailers Association has highlighted.
Russell Zimmerman, head of the Australian Retailers Association, told SmartCompany he welcomes the additional information but “it would be lovely” to get figures on international sales as well.
“The real assistance is going to come once we get some real comparatives going and can see how online is trading year on year, that will assist retailers who may be sitting on the fence and deciding whether to get into the online space,” Zimmerman says.
The ABS release follows the publication yesterday of <a href="https://www.smartcompany.com.au/growth/economy/35067-aldi-criticised-for-racist-t-shirts-online-sales-increase-in-november-construction-index-steady-in-december-midday-roundup" rel="nofollow">National Australia Bank’s online retail sales index</a> which recorded total online retail spending for the 12 months to November of $14.6 billion.
“The improved growth trend for online retail sales reflects almost uniform improvement in conditions at category level. In year-on-year terms, the rate of growth was up to 10.7% – faster than that observed in some recent results,” NAB said in a statement. 
 
 
<hr>
 This article first appeared on <a href="https://www.smartcompany.com.au/" rel="nofollow">SmartCompany</a>.
 
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ABS online sales data released for the first time: reveals spending of $2.738 billion

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The property management arm of ASX-listed Ariadne has been fined by the Brisbane Magistrates Court for <a href="https://www.smartcompany.com.au/superannuation/056124-former-company-director-charged-with-fraud-for-dishonestly-inducing-smsf-investors" target="_blank">defrauding landlords</a>, after finding the property and investment group guilty of 231 counts of dishonestly converting trust money for its own use.
The court found StayMint, which trades as Mint Hotels, wrongfully converted $141,466 of money – that should have gone to landlords – into its own trust account.
The landlords owned apartments in a Broadbeach complex, Carmel by the Sea.
David Stevens, chairman of the Carmel by the Sea body corporate committee, said problems began when Mint tendered for management rights and tried to take over the rentals by offering a "lease back" where the landlords got a fixed amount from the property manager to let their unit at prices "far in excess" of anything offered before.
"The guests would arrive and they would put them into other owners' units which were not on their list of lease backs," Stevens says.
Mint then leased the units regardless of whether they were being rented, ensuring the apartment owners who signed up had a constant income stream.
But the landlords then discovered people had stayed in their apartment, but the stay was not recorded in the monthly statement to the owner, and the rent not paid.
<a rel="nofollow" href="https://www.brw.com.au/p/business/gold_coast_based_ariadne_subsidiary_YIkg0rfpDJIBiuGZVBfK8K" target="_blank">According to BRW</a>, the irregular financial records were discovered after the Office of Fair Trading commenced an investigation and raided Mint's office, seizing a hard drive and trust account records.
The court found Mint booked tenants into rooms in Carmel by the Sea and then, after the guest had checked out, changed the records to indicate the guest had stayed in a leaseback unit.
Ariadne chief executive Murray Boyte said Ariadne executives did not have any knowledge the scam was taking place.
"This was a flagrant breach of our policies by an employee. They were acting outside of our authority," he says.
Boyte says the Office of Fair Trading investigation confirmed Ariadne's directors were unaware of the employee's actions, which went undetected by the regular and mandatory independent audits of the trust account records.
"The directors were shocked to learn of the employee's conduct," Boyte says.
"As soon as they were made aware of the allegations, they ordered a thorough internal investigation into the matter to determine the extent of the employee's unlawful activities."
Boyte says Ariadne has cooperated fully with the Office of Fair Trading and worked to ensure owners were compensated for the misallocation of funds.
Ariadne's co-operation with the OFT and its unblemished record were taken into account by the court in imposing a fine of $50,000 after Ariadne repaid $75,000 of the misappropriated money owed to 34 affected unit owners.
But David Stevens, chairman of the Carmel by the Sea body corporate committee, says the fine is disappointing as the maximum penalty available was in excess of $3 million.
"[Ariadne] has pleaded guilty to the charges as a company but nobody has been charged as an individual," he says.
"But as the magistrate said, Ariadne will pay a very heavy price in public opinion."
Stevens says the result is a victory for the landlords but the penalty could have and should have been more.
"Ariadne is a big company with deep pockets and they have given us six years of hell," he says.
This article originally appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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Property manager StayMint fined for defrauding landlords

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Australia's big four banks have been ranked the most profitable in the developed world for the third straight year, but all that money hasn’t improved their offerings to small business.
The Swiss-based Bank for International Settlements published figures today showing the pre-tax profits of the big four banks – the Commonwealth Bank, Westpac, ANZ and NAB were equal to 1.18% of their total assets.
This puts Australian banks well ahead of those in the other developed countries on the list such as Canada, the US and Britain, with only lenders in the emerging economies of Brazil, Russia, India and China making better returns.
The Bank for International Settlement’s figures also show Australian banks have lower costs than most of their peers and enjoy wider interest margins – a measure of profitability from lending.
So what are the banks doing with all that profit?
Not lending to small business, that’s for sure.
The big four claim they are eager to lend to SMEs, but <a target="_blank" href="https://www.smartcompany.com.au/financial-services-and-insurance/055527-half-of-small-business-loan-applications-knocked-back">just under half of all credit applications made by small and medium businesses in the past ye</a>ar were not granted.
In fact, the banks have been milking small business, with bank fees for businesses <a target="_blank" href="https://www.smartcompany.com.au/financial-services-and-insurance/056145-rba-banking-data-sparks-anger-among-small-businesses-as-it-reveals-bank-fees-have-soared-in-the-past-three-years">jumping 23.9% over the past three years</a> despite fees for consumers falling.
They also failed to pass on the RBA’s interest rate cuts in full to business.
There’s a distinct lack of competition in Australia’s banking sector which small business is paying the price for.
We need an alternative.
This article originally appeared on <a target="_blank" href="https://www.smartcompany.com.au/">SmartCompany</a>.
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Australian banks still most profitable in developed world but still turning down many SME loan applications

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Australia is the second best place in the world to be a female entrepreneur, with only the United States ranking higher in the first ever index of female entrepreneurship.
The Gender-GEDI Female Entrepreneurship Index launched by Dell at its <a href="https://www.smartcompany.com.au/leadership/055908-why-isn-t-my-business-growing-anymore-bedriye-hulya-dwen-benecaid-b-fit-blurb-marla-schwartz-bedriye-hulya-donna-boyle-steve-felice-dell">Women’s Entrepreneur Network Conference in Turkey</a> ranks Australia second out of 17 countries.
The index found there was no single determinant to entrepreneurial success, with the best performing countries demonstrating success across wide variety of categories.
Being strong in key areas such as legal rights, education and access to finance did not automatically result in high-potential female entrepreneurship.
In some countries, the business environment for success was right, but female entrepreneurship is still low.
This is often due to social and cultural norms that make it less conducive for women to become entrepreneurs, like in Japan, where only 9% of managers are female, leaving many women without the experience and skills to start their own businesses.
The index ranked Australia among the highest in financial literacy, which was a prerequisite for an effective entrepreneurial culture.
High levels of education and a belief that women are as good as men when it comes to executive roles also assisted Australia to its second place position.
The index highlighted technology is an essential component for fostering high-potential female entrepreneurship.
“Technology has also made it cheaper than ever to start a business and removes many of the social and physical barriers women must overcome to start their own businesses and connect with the resources they need,” the index found.
“Entrepreneurs need scalable technology solutions that enable them to accelerate the growth of their business to succeed.”
But with an index score of 70 out of 100 there is still room for improvement in Australia.
“Unleashing the power of female entrepreneurship can have a dramatic effect on a country’s economy,” Karen Quintos, senior vice president at Dell, said in a statement.
“Increased access to knowledge, networks, capital and technology are critical if countries are to empower female entrepreneurship and create a culture of success.”
The index found access to finance is crucial for female entrepreneurship, with few women having bank accounts in low performing countries like Egypt and Uganda.
However, even in countries like the US and Australia where almost 100% of women have access to a bank account, venture capital funding is still low.
Springboard Australia's chair, Wendy Simpson, is attending the conference in Turkey and said the US and Australia are both trying to educate the female component of the investment community to skill women investors. "We are just starting now to create a mindset in Australia, it is not just about the infrastructure you also need the mindset of women entrepreneurs."
But Emma Isaacs, chief executive of the female business group Business Chicks, says she is not surprised at Australia's high ranking in the index.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2013/06/entrepreneurjune6one.gif"><img src="/images/stories/2013/06/entrepreneurjune6onethumb.gif"></a>
“While we're not hitting all milestones and there's certainly still ground to be covered, Australia can provide an excellent environment for female entrepreneurs,” she says.
“The saying ‘You can't be what you can't see’ rings true, and more and more we're seeing higher visibility of Australian female entrepreneurs being featured in the media, providing learning and inspiration for the up and coming.”
Isaacs says Australian women are starting small businesses at twice the rate of men, which is encouraging, as are the index results.
“Now we just need to work out how to have women grow their businesses as substantially as their male counterparts."
Top ten ranking countries:
1.            USA
2.            Australia
3.            Germany
4.            France
5.            Mexico
6.            UK
7.            South Africa
8.            China
9.            Malaysia
10.          Russia
This article originally appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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Australia ranks second in female entrepreneurship index

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TripAdvisor's reliability has been <a href="https://www.smartcompany.com.au/business-travel/052880-advertising-standards-authority-calls-out-tripadvisor-and-skytrax-for-fake-user-reviews-2" target="_blank">called into question again</a> after Accor's general manager of communications in Sydney admitted to anonymously posting more than 100 hotel reviews on TripAdvisor.
Peter Hook published glowing reviews about the hotels owned by his employer, Accor and Sofitel, and critical reviews about the hotel group's rivals.
"As a first time visitor to Phnom Penh I didn't know much about the hotel scene so booked a brand I knew well. It turned out to be a good choice," Hook wrote about the Sofitel in Phnom Penh.
In contrast, in a 2010 review Hook criticised rival the Intercontinental Hotel in Adelaide as "the ideal location but stuck in a time warp and rather expensive".
The communications manager was sprung by <a href="https://www.smartcompany.com.au/advertising-and-marketing/027174-online-reputation-6-steps-to-manage-a-crisis-5" target="_blank">online reputation management </a>firm Kwikchex after TripAdvisor introduced a Facebook app.
On TripAdvisor, Hook was known only as "Tavare" as the review site only identifies users by their username.
But the app displays a name, photograph and location taken from each user's Facebook account and Hook was revealed as the true author of "Tavare".
Hook has been stood down from his role at Accor and the hotel group said Hook's actions were a breach of its social media policy.
"We do regret this individual initiative from one of our employees did not comply with the Accor charter," Simon McGrath, the chief operating officer of Accor said in a statement.
"We reaffirm our wish to increase our watchfulness on this point."
McGrath said Accor was working closely with TripAdvisor to take "whatever action is necessary" to ensure the credibility and transparency of online travel reviews and forums.
Angus Struthers, global communications director at TripAdvisor, said all of Hook's reviews have been removed pending investigation.
"It would clearly be inappropriate for a senior executive of a hotel company to review hotels within their own company," he said.
TripAdvisor claims its reviews are screened by "world-class" tools for fraud.
Hook defended his reviews to London's Telegraph newspaper saying they were his personal observations.
"Every review I have written has resulted from personally experiencing the product," he said.
"However, it is fair to say that my professional position should have been mentioned in any review of the hotels."
This article originally appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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Accor Hotels manager caught posting fake TripAdvisor reviews

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Administrators have been appointed to cleaning giant Swan Services after the business suffered losses from a number of unprofitable contracts.
Anthony Elkerton and David Young of Pitcher Partners were appointed as administrators to Swan Services this week along with Cleaners QLD, Cleaners SA, Cleaners ACT, Superior Cleaners WA, Cleaners New South Wales and Cleaners Vic.
All of the companies have ceased to trade and the employment of the 2379 cleaners employed by the companies has been terminated unless otherwise advised.
Swan Services employs 2466 people nationally and was run by founder and owner Robert Swan for a period of 43 years.
It had 901 staff in NSW, 578 in Victoria, 583 in Queensland, 64 in the ACT, 156 in South Australia and 184 in Western Australia.
Swan Services’ directors say the company had a turnover of $92 million in the last financial year.
But Elkerton said despite its strong cashflow, Swan Services was affected by both short- and long-term issues.
“We are instructed that the company did have a number of unprofitable contracts and had moved to renegotiate to make them more profitable and was reasonably successful in doing so, these would not take effect until the new financial year,” he says.
Elkerton says Sawn Services had a “major IT disruption” in February which affected its cashflow and over the last week rumours of the company’s financial position were in the marketplace.
These rumours were compounded by slow payment to debtors to the extent that Swan Services was unable to make its payroll run on Wednesday, May 22 and had to enter administration.
Elkerton says the administrators are working with Swan Services’ customers and the union to try to organise a smooth transition of contracts to other cleaning companies.
“We are hopeful that the majority of employees will be recontracted by the new suppliers,” he says.
Elkerton says the highly competitive nature of the cleaning sector has led to a number of businesses entering into unprofitable contracts.
“There have been <a target="_blank" href="https://www.smartcompany.com.au/retail/040184-20100906-unsecured-creditors-unlikely-to-get-a-return-from-collapsed-cleaning-giant-reflections-group-2">a number of cleaning companies</a> which have gone down over the last two to three years and unprofitable contracts are a recurring theme and it appears people have quoted for cashflow rather than profit,” he says.
The Age report today that Swan Services owes $1.6 million to its employees for wages. Its workers were said to earn $17 an hour cleaning shopping centres and $21 an hour in office buildings.
Swan Services owes a further $2.7 million to creditors such as cleaning product suppliers. The bill for government creditors, primarily the Tax Office, is yet to be determined.
This article originally appeared on <a target="_blank" rel="nofollow" href="https://www.smartcompany.com.au/">SmartCompany</a>.
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Cleaning giant Swan Services collapses

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Mornington Winery Group has collapsed as the wine industry battles against a "double whammy" of high exchange rates and a consolidated retail sector.
John Lindholm and Peter McCluskey of Ferrier Hodgson were appointed as administrators to the boutique winery last week.
Expressions of interest were sought today for the winery, cellar door and restaurant with seating capacity for 110 people.
Mornington Winery Group includes key brands Dromana Estate, Mornington Estate, 'i' Range and David Traeger and has leasehold vineyards of 48.5 hectares with 19.2 hectares currently under vine.
The winery has 500 tonne crushing capacity, 130,000 litres of onsite storage and produces 10,000 cases per annum.
Mornington Winery Group's collapse follows the recent administration of the historic <a href="https://www.smartcompany.com.au/food-and-beverages/053462-historic-winery-collapses-into-administration-2" target="_blank">Buller Wines</a> and <a href="https://www.smartcompany.com.au/food-and-beverages/054408-woolies-looks-to-swallow-collapsed-barossa-valley-winery-2" target="_blank">Barossa Valley Estates</a>.
Paul Evans, chief executive of the Winemakers' Federation of Australia, said it was a tough time for wineries.
"Like most manufacturing sectors with an export orientation we are confronting a double whammy of high exchange rates, which has seen a 30% increase in the price of products against competitors' currencies since 2008," he says.
"Domestically, we are faced with a highly consolidated retail sector and fierce competition amongst producers with the own brands of retailers and increasing numbers of imports."
Evans says many wineries are trying to diversify, as Mornington Winery Group had done, into restaurant operations along with cellar door sales.
"With so much competition domestically, all companies need to find their particular niche and speciality and focus on that," he says.
"The more businesses can drive sales volumes through formats which are high margin, the better off they are, and cellar doors and restaurants are at the top of that risk."
This article originally appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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Wine industry struggling as Mornington Winery Group collapses

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Self-managed super funds are continuing to grow in popularity with the latest figures from the Australian Prudential Regulation Authority (APRA) showing assets increased to $22 billion.
APRA’s quarterly superannuation statistics for March 31, 2013 show <a target="_blank" href="https://www.smartcompany.com.au/superannuation/052307-government-warned-to-back-off-on-proposed-changes-to-smsfs">SMSF assets </a>now make up 33.9% of the total $68.4 billion increase in superannuation assets in the last quarter.
SMSF Professionals’ Association of Australian director, Graeme Colley, said this increase means the total assets in SMSFs now stands at $496.2 billion or about 31.5% of the total $1.58 trillion superannuation pool.
“What these numbers say about SMSFs is positive on two fronts,” he said in a statement.
“First, that the fund trustees and their professional advisors have not missed the upswing in the equity markets in this quarter or over the past year.”
Colley said the investment performance of the SMSF sector has been on a par or better than the other sectors.
“Second, that despite the market volatility of the past years post the global financial crisis, people still want to take control of their superannuation and be responsible for it,” he said.
“This reflects both a growing awareness by trustees of superannuation and their capacity to be able to get professional advice on all issues pertaining to the management of their SMSF.”
A spokesperson from the Australian Institute of Superannuation Trustees said the APRA data showed industry funds were aware of the market competition from SMSFs and are increasingly offering products which compete.
“While the figures also show strong growth in the SMSF sector, superannuation funds are increasingly offering innovative, good value new products and services, which mirror some of the features of self-managed funds and aim to help retain members, particularly those with large balances,” the spokesperson said.
This article originally appeared on <a target="_blank" href="https://www.smartcompany.com.au/">SmartCompany</a>.
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APRA figures show SMSF assets have hit $22 billion

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A large dairy farm in Victoria has been placed into receivership, as dairy farmers continue to struggle.
Hines Dairy Farm, near Warrnambool in Victoria, has been placed into receivership by the Commonwealth Bank.
<a rel="nofollow" href="https://www.theland.com.au/news/agriculture/agribusiness/general-news/dairy-liquidity-woes/2655132.aspx" target="_blank">The Australian Financial Review reports</a> the farm has more than $5 million worth of dairy farming land and up to 500 cows.
PPB has been appointed as receivers and Geoff Ridgeway and Philip McGibbon of Jirsch Sutherland have been appointed as liquidators of the dairy farm.
A source said the receivers were conducting an urgent assessment of the farm.
While at this stage it is too early to say what is happening, the source said one of the options is a restructure of the business.
Ridgeway and McGibbon were not available to comment.
The receivership follows the collapse of the Alan Fisher Pastoral Company in February, which operates a significant dairy farm near Warrnambool.
The dairy industry has been under continued pressure from price wars between the supermarkets.
Earlier this year, senator Nick Xenophon <a href="https://www.smartcompany.com.au/agribusiness/053863-dairy-industry-needs-another-inquiry-as-australia-day-marks-two-years-of-milk-wars-xenophon-2" target="_blank">called for another inquiry into the industry</a> while Coles has brokered a deal to <a href="https://www.smartcompany.com.au/food-and-beverages/055059-the-coles-milk-shake-up-a-farmer-s-point-of-view" target="_blank">cut out the middle man</a> in milk supply in a move it says will improve prices for dairy farmers.
In a <a rel="nofollow" href="https://www.dairyaustralia.com.au/~/media/Documents/Stats%20and%20markets/S%20and%20O/S%20and%20O%20Feb%202013/130212%201140%20February%202013%20S%20%20O%20Update%20-%20final.pdf">report released earlier this year</a>, Dairy Australia found milk price and higher feed and energy costs were the major concerns for dairy farmers this year.
"Southern export region farmers are facing an 8-10% price drop. Northern domestic producers also face negative price signals and some are now also coping with flood impacts," the report found.
Although average wholesale prices for some key dairy product categories firmed slightly over the December quarter and total sales volumes were broadly stable, average per litre supermarket retail fresh milk prices were down.
This article originally appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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Dairy industry continues to struggle as major Victorian farm collapses

Article summary

<ul data-end="785" data-start="311">
	<li data-end="459" data-section-id="5hbcyr" data-start="311">Pikos Group has released the five-penthouse collection at Skye Kangaroo Point, headlined by a two-storey sky home spanning more than 1,000 sqm.</li>
	<li data-end="561" data-section-id="1p7lq8n" data-start="460">Early buyer interest suggests the residences could set a new Queensland apartment price record.</li>
	<li data-end="667" data-section-id="1y70z0l" data-start="562">The collection includes four move-in ready penthouses and the highly customised Skye One residence.</li>
	<li data-end="785" data-section-id="yvm0y1" data-start="668">The release caps one of Bri​sbane's most ambitious luxury apartment developments overlooking the Brisbane River.</li>
</ul>

<hr data-end="790" data-start="787" />
Pikos Group has released the five-penthouse collection at its <a href="https://www.apartments.com.au/buildings/skye-residences-by-pikos-kangaroo-point-8-river-terrace-kangaroo-point-qld-4169">Skye by Pikos</a> development in Kangaroo Point, with early buyer interest indicating the flagship residences could eclipse every apartment sale previously recorded in Queensland.

The collection crowns the luxury riverfront development with five residences, including four completed penthouses and Skye One, a two-level sky home spanning more than 1,000 sqm that will be tailored to its eventual owner.

[smartcode_project:default project_id=90059 project_image_fid=374075]

Wanting to offer a fully customisable home, Pikos is offering Skye One as a blank canvas, allowing the buyer to work alongside the developer's design team to customise the home's layout, finishes and internal spaces.

The residence will feature a 247 sqm private rooftop terrace with its own swimming pool, sauna, steam room, outdoor kitchen and multiple entertaining areas overlooking the Brisbane River and CBD skyline.

The remaining four penthouses have been completed and are ready for immediate occupation, each offering four bedrooms, expansive open-plan living areas, soaring ceilings and private lift access.

[smartcode_project:default project_id=90059 project_image_fid=374059]

One of the defining features throughout the project is its use of Roman Classic Travertine, with more than 20,000 sqm of the natural stone imported from Italy after being personally selected by Pikos Group Founder and Executive Director Pedro Pikos, interior designer Julie Williamson and third-generation stone specialist Mario Caucci.

Pikos said the penthouse collection represented the culmination of the company's long-term vision for Skye.

"True legacy isn't measured by what we build today, but by what endures tomorrow," Pikos said.

"Our ambition is to create places that become more valuable with time, enrich the lives of generations, and stand as timeless landmarks long after we've stepped away."

[smartcode_project:default project_id=90059 project_image_fid=374060]

Williamson said the interiors were inspired by the natural character of Kangaroo Point and the Brisbane River rather than international design trends.

"Materiality tells the story of a place," Williamson said.

"We looked to the movement of the Brisbane River, the texture of the cliff face and the warmth of the surrounding landscape to create interiors that feel understated, enduring and unmistakably Brisbane."

Positioned above the Kangaroo Point cliffs, Skye places residents within walking distance of Howard Smith Wharves, South Bank and James Street while offering uninterrupted river and city views.

[smartcode_project_cta:default project_id=90059]

Joel Robinson

Brisbane's next apartment price record? Pikos unveils Skye's exclusive penthouse collection

Article summary

<ul data-end="888" data-start="289">
	<li data-end="442" data-section-id="8tsh6o" data-start="289">DVB Projects is preparing to launch its second Gold Coast apartment development, with demolition now underway at 137 Old Burleigh Road, Broadbeach.</li>
	<li data-end="573" data-section-id="1nyxl3e" data-start="443">The 34-level tower will comprise just 49 ultra-luxury residences, including half-floor, full-floor and penthouse apartments.</li>
	<li data-end="717" data-section-id="oiyimj" data-start="574">The launch follows strong demand at DVB's nearby Sea Glass project, which is more than 50 per cent sold and currently under construction.</li>
	<li data-end="888" data-section-id="epk9o9" data-start="718">The development adds to the transformation of Old Burleigh Road, with premium beachfront apartment projects continuing to reshape the tightly held Broadbeach strip.</li>
</ul>

<a href="https://www.apartments.com.au/developers/dvb-projects">DVB Projects</a> is preparing to launch its second Gold Coast apartment development, with demolition now underway on the Broadbeach site as the Sydney developer moves closer to bringing the ultra-luxury project to market.

The 34-level tower at <a href="https://www.apartments.com.au/new-apartments/137-old-burleigh-road-broadbeach-qld-4218">137 Old Burleigh Road</a> will comprise just 49 residences, ranging from half-floor apartments through to full-floor homes and a penthouse. The launch follows the strong sales performance of DVB's nearby Sea Glass development. More than half of the apartments at Sea Glass, on the other side of Broadbeach, have been snapped up, well ahead of its late 2027 completion

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="2944b4be-c84e-4b54-8dc1-c712e76704c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E02_Exterior_Street%20Level%20Entrance.jpg?VersionId=YoNig7pRdrE3HCue7sUj78LzJteeQf3H" />

The start of demolition at 137 Old Burleigh Road signals DVB Projects’ underlying confidence in the Gold Coast’s luxury beachside apartment sector.

“We see the Gold Coast as one of the most compelling lifestyle markets in Australia, particularly at the premium end where demand continues to deepen,” said Dean Brown, Managing Director of DVB.&nbsp;

“This project has been carefully designed to respond to that demand - delivering large-format residences with a level of quality, privacy and amenity that is still relatively rare in the apartment market on the beachside."

Brown says the site itself is "exceptional."

"Old Burleigh Road is one of the most tightly held beachfront strips, and opportunities to deliver a project of this scale and calibre in this location are extremely limited.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="398f377a-c037-455e-9250-0c5e0d84c35b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/I12_FF%20Balcony.jpg?VersionId=NwOiRWGMubR1c8wthuEfggklcja7al9." />

The project will comprise 40 half-floor residences of approximately 260 sqm, alongside eight full-floor residences spanning around 524 sqm.

A single penthouse will crown the building, featuring a private pool, barbecue area, indoor gym and dedicated entertaining spaces.

Residents will have access to a resort-style suite of amenities, including a 20-metre pool with daybeds, a gymnasium, hot and cold plunge pools, a sauna, and private residents’ lounge and dining facilities.

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="d1642bb0-9a66-4427-a022-dfc0988c6287" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/A02_Pool%20to%20View.jpg?VersionId=c0IXPyn_Gp_Kn3XCwzMrqIVkAdCEwVXP" />

Sales agent Todd Matheson, of <a href="https://www.apartments.com.au/project-marketer/pezet-matheson">Pezet Matheson</a>, which is marketing both 137 Old Burleigh Road and Sea Glass, said 137 Old Burleigh Road would address a clear gap in the market for genuine luxury products.

“There are very few opportunities on the Gold Coast where buyers can secure a residence of this size and quality in a new building,” Matheson said.

“What we’re seeing is a growing cohort of downsizers and interstate buyers who still want space - they’re not willing to compromise on living area, entertaining or finishes.

“This project has been designed with that buyer in mind. It offers the scale of a home, combined with the convenience and security of apartment living, in one of the coast’s most desirable positions.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="59aae0ca-5639-4320-8aca-d0bf60f48e43" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E01_Exterior%20Hero.jpg?VersionId=DS8Zfy2WtgUEtdfe0TEUuf1W1GfcZq8S" />

Located on a 1,156 sqm site one block from the beachfront, the development will replace an ageing walk-up building and is expected to contribute to the ongoing transformation of the Old Burleigh Road strip into one of the Gold Coast’s most prestigious residential corridors.

With the development moving into the delivery phase, 137 Old Burleigh Road is slated to hit the market later this year.

[smartcode_project_cta:default project_id=145141]

DVB Projects to launch second Broadbeach apartment tower as demolition commences

A proposal to redevelop one of North Sydney's ageing commercial buildings has taken another step forward, with plans for a 38-storey mixed-use tower adding momentum to the long-awaited transformation of the Alfred Street precinct.

Now on public exhibition through the NSW Government's Housing Delivery Authority-led State Significant Development pathway, the proposal for 271-273 Alfred Street would replace an underutilised commercial building with 95 apartments, ground-floor retail, commercial space and affordable housing. The proposal was submitted by&nbsp;Tara Shore Pty Ltd, acting for the John Taylor Family Trust.

While the project will deliver much-needed housing on the southern edge of the North Sydney CBD, it also represents another piece of a broader precinct that has spent years in planning limbo.

<img alt="First look: New public domain vision underpins 95-apartment North Sydney tower on Alfred Street" data-entity-type="file" data-entity-uuid="7e1ce1b4-38df-48ab-992f-386814d86308" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Alfred%20St%20da%20podium.png?VersionId=sC_h6w.A9VEoB98qsqowPlIoz__sBZBt" />

Despite its proximity to both North Sydney Station and the Victoria Cross Metro, redevelopment of Alfred Street has progressed slowly over the past decade as broader planning controls, zoning and building heights remained unresolved. The introduction of the Housing Delivery Authority pathway has provided a new avenue for projects to progress, allowing rezoning and development assessment to occur concurrently and unlocking sites that have long been earmarked for renewal.

Designed by Office of Cortese &amp; Gilder, the proposal seeks to do more than replace an ageing office building. The architects have positioned the project as the first stage of a wider public domain vision that would improve pedestrian connectivity and create a more cohesive mixed-use precinct as neighbouring sites are redeveloped over time.

The proposal includes a widened Alfred Street setback, new street trees, landscaping and outdoor seating, along with a landscaped through-site pedestrian link connecting Alfred Street with Little Alfred Street. The connection is intended to become the first section of a future east-west pedestrian network extending across the precinct.

<img alt="First look: New public domain vision underpins 95-apartment North Sydney tower on Alfred Street" data-entity-type="file" data-entity-uuid="8ea39ac3-46ad-4562-b4a0-b862e91c2dda" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Alfred%20St%20da%20site.png?VersionId=K7umCd21KpetEFuVfsPlnJKhUOsmTTdV" />

The mixed-use tower would comprise retail space at ground level, commercial uses on level two and apartments from level three upwards.

In total, the development would deliver 95 apartments, including nine one-bedroom, 28 two-bedroom, 56 three-bedroom and two four-bedroom residences. Twenty-one apartments, representing 15 per cent of the residential gross floor area, would be secured as affordable housing and managed by a registered community housing provider for at least 15 years.

Nine basement levels would provide 133 resident car spaces, seven motorcycle spaces and 111 bicycle spaces.

According to the Architecture and Urban Design Report, the public domain strategy is designed to transform what is currently an inward-facing commercial edge into a more active and connected pedestrian environment, creating a stronger relationship between the commercial core and surrounding residential neighbourhoods.

Office of Cortese &amp; Gilder has also prepared a broader public domain framework spanning neighbouring properties between 263 and 283 Alfred Street, arguing that a coordinated approach to redevelopment will deliver better public spaces, improved tower separation and a more connected streetscape as the precinct evolves.

The proposal comes at a time where North Sydney is slated for future residential growth. Commercial developer FiveX has residential plans for the neighbouring site at 275 Alfred Street. They've proposed a 39-storey mixed-use tower with 184 apartments, while Freecity was recently approved for nearly 300 apartments across a 51-storey building on Walker Street.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-freecity-gets-green-light-for-mixed-use-apartment-and-hotel-tower-in-north-sydney">First look: Freecity gets green light for mixed-use apartment and hotel tower in North Sydney</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-fivex-plans-39-storey-residential-tower-in-booming-north-sydney">First look: Fivex plans 39-storey residential tower in booming North Sydney</a>

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Alfred Street the latest North Sydney pocket to be transformed by residential development

Buyers considering a residence at boutique Gordon townhouse development <a href="https://www.apartments.com.au/new-townhouses/lume-gordon-43-47-dumaresq-street-gordon-nsw-2072">Lume</a>&nbsp;now have another reason to bring forward their decision.

For a limited time, purchasers of a residence at Lume will receive a BMW iX3 50 electric SUV, valued at more than $120,000, as part of their purchase. The offer is designed to add value for buyers while complementing the lifestyle envisioned for the architecturally designed Upper North Shore development.

Scott Timmins, Development Manager at <a href="https://www.apartments.com.au/developers/winim">WINIM</a>, said the partnership was created to provide buyers with a compelling reason to act.

"In today's market, buyers need a compelling reason to act now, and the BMW partnership was designed to create that catalyst. We wanted to add genuine value for our future purchasers. Choosing the all-electric BMW iX3 50 also reflects the values behind LUME, forward-thinking design, innovation and a more sustainable way of living. It's a premium incentive that complements the lifestyle our buyers aspire to and rewards those who commit early."

[smartcode_project:default project_id=7354 project_image_fid=374893]

Delivered by WINIM in partnership with Burtonwood Investment Partners, Lume comprises 14 architecturally designed two, three and four-bedroom townhomes created for families seeking the space of a freestanding house with the ease of modern, low-maintenance living.

The three-storey residences, designed by award-winning architecture practice <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, have been tailored for families and multi-generational living, featuring private internal lifts, flexible lower-level spaces, generous open-plan living and entertaining areas, media rooms, and landscaped outdoor spaces with custom outdoor kitchens.&nbsp;

Inside, engineered oak flooring, bespoke dining joinery with integrated wine fridges and backlit bars, sculptural porcelain bathrooms, Parisi freestanding baths and Astra Walker tapware create interiors that balance functionality with refined finishes.

Each townhome has been designed to combine generous internal spaces with sustainability initiatives such as EV charging infrastructure, while <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>'s landscaped communal areas, centred around a restored creek line and native planting, encourage residents to connect with nature and spend more time outdoors.

[smartcode_project:default project_id=7354 project_image_fid=269527]

Rothelowman's Gary Tsui said the architecture was conceived to respond carefully to its Upper North Shore setting.

"Our vision was to create elegant, uplifting homes that draw on and positively contribute to the local character through meticulously considered design and an interaction with the surroundings."

The communal landscape has been designed as more than an open space between homes. Arcadia's Ben Newell and Kate Phillips said the adjoining reserve provided an opportunity to create a distinctive natural retreat for residents.

"Just as waterways carve their way through Ku-ring-gai's landscape, a raised boardwalk weaves through the reserve, connecting the homes to this tranquil oasis."

[smartcode_project:default project_id=7354 project_image_fid=374892]

Located just 300 metres from <a href="https://www.apartments.com.au/developments/gordon-nsw-2072">Gordon</a> Village and Gordon railway station, Lume offers convenient access to Sydney's CBD while placing residents close to some of the North Shore's leading schools, including Ravenswood, Pymble Ladies' College and Knox Grammar. Lane Cove National Park, Gordon Golf Club and a range of cafés and restaurants further reinforce the family-focused lifestyle on offer, with the BMW iX3 50 complementing everything from local trips around Gordon to weekend drives and city commutes.

Construction is underway with completion expected in mid-2027.

[smartcode_project_cta:default project_id=7354]

Boutique Gordon townhomes now come with a BMW iX3 50

Two apartments have sold for more than $10 million at EADE Byron Bay, setting some of the highest apartment prices ever achieved in the coastal town and underlining the growing appetite for luxury beachfront apartments in Australia's most popular coastal locations.

The $210 million project by Vitale Property Group has now secured more than $70 million in sales, led by residences that changed hands for $12.75 million and $11.75 million.

The record-breaking transactions reinforce the shift occurring in Byron Bay's premium property market, where affluent downsizers and lifestyle buyers are increasingly opting for high-end apartments over large beachfront homes.

<a href="https://www.apartments.com.au/new-apartments/eade-byron-bay-29-shirley-street-byron-bay-nsw-2481">EADE Byron Bay</a> occupies a rare 6,000 sqm absolute beachfront site on the corner of Shirley and Milton Streets overlooking Main Beach and The Wreck surf break, just 350 metres from Byron Bay's town centre.

The 25-residence development is the first beachfront apartment project approved in Byron Bay in more than a decade and is currently under construction, with completion expected in May 2027.

[smartcode_project:default project_id=145590 project_image_fid=359521]

The project has attracted a mix of local Byron Shire residents downsizing from larger homes, alongside interstate buyers from Sydney, Melbourne and Brisbane seeking a permanent coastal lifestyle without compromising on space.

Designed by <a href="https://www.apartments.com.au/architects/hayball">Hayball</a> and with interiors by <a href="https://www.apartments.com.au/interior-designers/alexander-co">Alexander &amp; Co</a>, EADE comprises&nbsp;10 garden apartments ranging from 284 sqm to 622 sqm, nine with private pools, five full-floor apartments and 10 rooftop residences with private plunge pools, expansive outdoor entertaining areas and uninterrupted ocean views.

[smartcode_project:default project_id=145590 project_image_fid=359527]

<a href="https://www.apartments.com.au/developers/vitale-property-group">Vitale Property Group</a> Managing Partner Chris Vitale said the project's combination of scale, location and limited future supply was driving buyer demand.

"There isn't another beachfront holding in Byron Bay of this size and position that could be developed again," Vitale said.

"Buyers are responding to the scarcity and the irreplaceability of a site of this calibre and to floorplans they can't find elsewhere in the market.

"We are seeing buyers place significant value on quality, space, design, resort-style amenities and the rarity of the location. The sales achieved to date demonstrate that discerning purchasers recognise the long-term significance of what is being created at EADE Byron Bay.

"Many are coming from larger homes in the Byron region, or from Sydney, Melbourne and Brisbane, and are after the space, security and convenience, without the upkeep of a house."

&nbsp;

[smartcode_project:default project_id=145590 project_image_fid=359523]

The Byron Bay project follows Vitale Property Group's delivery of the Mondrian Hotel and Private Residences at Burleigh Heads, with EADE continuing the developer's focus on luxury coastal developments.

Residents will have access to a resort-style swimming pool, gymnasium, sauna, cold plunge pool, concierge services and dedicated workspaces, while the project is targeting an 8-Star Green Star rating.

EADE Byron Bay is being exclusively marketed by Projx Australia in conjunction with WHITEFOX Projects.

WHITEFOX National Projects Director Phillip Rand said demand had been driven predominantly by owner-occupiers.

"We are seeing buyers at EADE place significant value on quality, space, design, resort-style amenities and the rarity of this location," Rand says.

"The sales achieved to date demonstrate that purchasers at this level recognise the long-term significance of what is being created at EADE Byron Bay."

Residences at EADE Byron Bay are currently priced between $4.75 million and $15.95 million.

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[smartcode_project_cta:default project_id=145590]

Cara Waters

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