<html><body>
Amid the gloom announced in yesterday’s Mid-Year Economic and Fiscal Outlook is the faint hope Treasurer Joe Hockey is broadcasting a worst case scenario to avoid economic surprises.
But on the face of it, the MYEFO forecasts hold bad news for the nation’s finances, with untrimmed deficits blowing out to $123 billion over four years.
Just last month the deficit was set to disappear by 2016-17, according to the Pre-Election Economic and Fiscal Outlook.
The MYEFO forecasts get worse to the tune of a $667 billion deficit by 2023-24.
Crikey federal politics correspondent Bernard Keane suggested one “interpretation” of the tighter MYEFO figures is that “[Treasurer Joe] Hockey has demanded Treasury slash its forecasts and give him the worst-case scenario for revenue” to avoid troubles that plagued the previous government as Treasury continually revised down revenue projections.
“The key reason is that forecasts for nominal GDP growth have been revised down, and revised down a lot,” <a target="_blank" href="https://www.crikey.com.au/2013/12/17/myefo-hockeys-budget-blows-out/">he wrote yesterday</a>.
Growth in nominal GDP as stated in PEFO was 4.5% in 2014-15, but MYEFO has revised that figure down to 3.5%, and in the following years nominal GDP is half a per cent lower than the PEFO forecasts.
“They are the lowest nominal GDP forecasts since the global financial crisis,” says Keane.
Rivkin investment firm chief executive Scott Schuberg has offered a similar sentiment to Keane’s, stating “while Labor played politics coming into the election by consistently downplaying the softening figures behind our economy, this outlook is designed to get the bad news out early so that expectations remain low before we next go to the polls”.
Schuberg said MYEFO was “more of an articulation of reality than a revelation”.
The Australian Chamber of Commerce and Industry has used the deficit number to call on Parliament to, literally, think of the children.
“Unless the budget is brought back into repair inside this budget cycle, our nation faces the unpalatable prospect that children born in 2007 will not see a government living within its means until they hit secondary school,” said ACCI chief executive Peter Anderson.
The challenge for Hockey’s team is to find a way to slice away the $123 billion forecast deficit.
But Anderson has a way, pare back the Coalition’s “excessive” paid parental leave scheme, and unwind expenditure related to carbon pricing and “expensive renewable energy schemes”.
The Australian National Retailers Association was not worried by the MYEFO news. Chief executive Margy Osmond was “slightly concerned” it would scare buyers out of shops and curtail the claw-back in Christmas retail spending.
The Institute of Chartered Accountants Australia reacted with a call to look at widening the GST tax base to address the variability in projected revenues seen over 2013.
Hockey spoke as the MYEFO figures were released yesterday when he said “taxpayers can no longer afford old government spending priorities,” as quoted in The Australian Financial Review.
“Australians will now have to adjust their expectations of what government can sustainably provide,” he said.
Expectations are that Hockey will cut from education, welfare and social spending, Phillip Coorey in the AFR states.

<hr>
This article first appeared on <a target="_blank" href="https://www.SmartCompany.com.au">SmartCompany.</a>
 
</body></html>

dmoss-2Ltwr5j89M

Analysts hoping for worst case outlook after Joe Hockey reveals Mid-Year Economic and Fiscal Outlook

<html><body>
Retail giant Harvey Norman’s franchises in Victoria and Tasmania have been fined a total of $116,000 for misleading customers on their consumer rights.
The fines come after <a target="_blank" href="https://www.smartcompany.com.au/legal/34724-electronics-retailers-found-to-be-breaching-consumer-law-85-of-sales-staff-got-it-wrong">consumer group CHOICE concluded 85% of the salespeople they surveyed</a> in a secret shopper investigation misunderstood their Australian Consumer Law obligations.
The Federal Court ordered three franchises, located in Sale and Hoppers Crossing in Victoria and Moonah in Tasmania, to pay fines of $28,000 each, and a fourth franchise in Launceston to pay $32,000.
Following an investigation by the Australian Competition and Consumer Commission, it was revealed that staff at the franchise stores had told consumers they had no obligation to provide remedy for damaged goods unless notified within a short period of time, such as 14 days.
They also led customers to believe they had no obligation to provide an exchange or refund for faulty goods and that they had no legal requirement to provide a remedy independent of the relevant product manufacturer.
The Launceston store went a step further and stated on customer receipts that “no claims will be honoured on damaged goods unless notified within 24 hours of delivery or pick-up”.
Consumer law specialist and partner at law firm Hall &amp; Wilcox, Ben Hamilton, told SmartCompany goods and services were protected under the ACL.
While the legislation doesn’t explicitly state terms for refunds or warranty, Hamilton said companies must be aware of their obligations “that the goods are of acceptable quality, and business can’t contract out of that”.
He says the supply of goods or services up to $40,000 worth are protected by consumer law, and that “regardless of value, any goods and services ordinarily acquired of a personal or domestic or household use” are protected.
Hamilton says businesses violating these obligations are doing so “at their own peril”.
An additional obligation retailers must now be aware of is their responsibility to offer consumers a refund or repair of all faulty big ticket purchases, regardless of the warranty conditions.
In 2011 the legislation changed which saw retailers responsible for major failures to big ticket purchases.
In these situations, the consumer gets the option to end the contract with the supplier and seek a replacement, repair of refund.
For a refresher on the obligations in the ACL, see the <a target="_blank" href="https://www.accc.gov.au/consumers/consumer-rights-guarantees/consumer-guarantees">ACCC’s guidelines on guarantees</a>.

<hr>
This article first appeared on <a target="_blank" href="https://www.SmartCompany.com.au">SmartCompany</a>.
 
</body></html>

Harvey Norman franchisees fined $116,000 for misleading consumers

<html><body>
A lower GST threshold on imports won’t happen, “full stop, end of story”, according to Prime Minister Tony Abbott in August, but the push is still on to broaden the application of the 10% tax.
Local retailers want offshore imports to be taxed like goods bought in Australia. Currently, imported goods are only taxed under the GST if they cost more than $1000.
State treasurers will meet tomorrow in Canberra with Federal Treasurer Joe Hockey to see the results of a report on changes to the GST, commissioned last year. An official in Hockey’s office said no decision was expected tomorrow.
The National Online Retailers Association chairman Paul Greenberg said there was “strong argument” for the threshold to be lowered, but “if retailers use this as a smokescreen for not keeping up with the pace, I think we’re doing ourselves no favours as an industry and we’re doing the customer no favour”.
NORA called on Australian e-commerce sites to extend into Asia and further worldwide to grow, and to use technology to improve customer experiences.
He said retailers need to “lift the bar a lot more than 10% to earn the Australian shoppers’ custom”.
Hockey has said in August that any changes to the GST need consent from all states and territories, and would be put up for debate before an election.
The opposition infrastructure spokesman, Anthony Albanese, said today Labor would oppose any “extension” of the GST, wrote Business Spectator.
Melbourne University public policy fellow Nicholas Reece told SmartCompany the issue was a “political dance” where politicians don’t want to risk a “backlash” from proposing higher taxes.
“It seems that there is a consensus that has emerged between states and the Commonwealth that online, offshore retailing is an area that needs to be examined, and it looks as though there is going to be a move to lower the threshold,” he said.
“What we’re now seeing however is a political dance as to who will be seen to be responsible for that and who will wear the opprobrium of online shoppers, to the extent that that exists on this issue.
“The government needs to be certain that the additional tax it collects is not outweighed by the admin burden for domestic consumers and online retailers through a lower threshold.”
What the key player’s said:
Joe Hockey, press statement August 7, 2013:
“Any suggestion that the Coalition wants to change the GST is just yet another Labor lie.
“The GST can’t be changed without the consent of every single state and territory, including the Labor-run states.”
Minister for Small Business Bruce Billson, in AFR, Sept 20, 2013:
“There is a need to consider the tax framework that supports our nation.”
Tony Abbott as opposition leader, ABC, August 13, 2013:
"Let me be as categoric as I can. The GST won't change, full stop, end of story."

<hr>
This article first appeared on <a href="https://www.SmartCompany.com.au">SmartCompany</a>.
 
 
</body></html>

'Lift your game' retailers say to government ahead of GST threshold meeting

<html><body>
Education expense tax deductions will not be limited to a yearly $2000, part of a raft of Labor changes which will not proceed under the Coalition.
This announcement has shown the path the government will take in dealing with 92 proposed tax and superannuation measures announced but not legislated by previous governments.
Assistant treasurer Arthur Sinodinos said 18 measures would proceed, and three more would be “significantly” amended. Seven initiatives would be cut.
Removal of the statutory formula method of calculating the Fringe Benefits Tax on cars was to be removed by the former government, but <a target="_blank" href="https://www.smartcompany.com.au/financial-services-and-insurance/057518-bruised-but-optimistic-salary-packaging-industry-licks-its-wounds-after-seven-weeks-in-limbo">will now to be kept</a>, to the considerable relief of the salary packaging industry.
A $2.4 billion move to scrap Labor’s 15% tax on superannuation incomes above $100,000 has sparked a storm, with the Australian Council of Trade Unions president Ged Kearney calling it a “tax break for the rich” and while Association of Superannuation Funds of Australia chief executive Pauline Vamos welcomed it for giving “certainty”, she acknowledged the average Australian “may think it unfair”.
Sinodinos said “the complexity and compliance costs associated with this initiative are extreme and essentially undeliverable”.
Changes to so-called ‘25-90 deductions’ will not proceed. The changes announced by the previous government permitted a deduction on interest expense on borrowings used to derive certain types of foreign-sourced incomes. Tax Institute tax counsel Stephanie Caredes said the changes affect multinational businesses, but some SMEs could have been affected.
“It was a huge over-reach,” she says.
Sinodinos has set a December 1 deadline for resolving the 64 outstanding changes “with a disposition not to proceed” and aims to have them pass Parliament by July 1 next year.
One of those measures relates to how the tax regime deals with earn outs, a contingency that is negotiated during business sales when its value is not fully known.

<hr>
This article first appeared on <a target="_blank" href="https://www.smartcompany.com.au">SmartCompany</a>.
 
</body></html>

Federal government axes seven inherited tax policies

<html><body>
Strong real estate sales results from the weekend in Melbourne and Sydney have buoyed expectations for the rest of 2013, which has already seen “unprecedented” figures.
But market analysts point to icebergs on the horizon, with unknowns such as interest rates, unemployment rates and wage growth in the new year expected to level out growth.
“There are some concerns over the future direction of the local economy,” Andrew Wilson from Australian Property Monitors said. “Over the medium term house prices will be constrained by wages growth.”
According to APM, the clearance rate in Melbourne was 76.9%. There were 1,362 properties listed and 922 of them auctioned, of which 714 sold. Total sales reached $438.8 million and median prices for auctioned houses was $809,250 and units $506,750.
Activity focused on the bayside suburbs of Brighton, St Kilda, Port Melbourne and at Glenroy, and leafy, affluent Hawthorn, says Real Estate Institute of Victoria spokesman Robert Larocca.
Larocca says the above-trend market was a “really, incredible result” but next year held some signs for caution.
“What we’ve seen seems quite sustainable for the Melbourne market,” he says. “Looking into next year we have to have an eye for the wider economy.”
Wilson says the weekend in Melbourne “broke all records”, and buyers had the choice available to find an appropriate property.
In Sydney the clearance rate was 83.2%, with 689 properties listed and 459 auctioned, of which 400 sold. Total sales reached $352.3 million and median prices for auctioned houses was $1 million and units $650,000.
In Sydney, clearance rates had been above 80% for 14 of the past 16 weeks, pointing to investors re-joining the market after selling to first home buyers last year, Wilson says.
He said activity focused on the inner west, southern Sydney and the upper north shore.
Real Estate Institute of New South Wales chief executive Tim McKibbin said “confidence” had grown over the past 12 months in the state due to low interest rates.
“The momentum we’ve seen here is sustainable and will flow into next year,” he says.
He says the major problem was supply of houses for sale.
Other capitals fielded much lower totals, Brisbane had a clearance rate of 56.8% and Adelaide posted 48.7%.

<hr>
This article first appeared on <a target="_blank" href="https://www.smartcompany.com.au">SmartCompany</a>.
 
</body></html>

Booming property sales, but experts say don’t get too confident

<html><body>
Forecasts are down for the engineering construction sector but economists are crystal-ball-gazing to see where the sector will end up.
The residential construction sector has been picked to carry the ball but its recovery has not been a swift starter. Expectations that residential will rise in the next six-12 months are not meeting actual figures.
A rise in commercial construction has also been flagged but is not expected for 18 months at least.
A BIS Shrapnel report released today states the engineering construction sector, responsible for transport, mining and other heavy industry projects, was set for a 7.6% decline this financial year. The figure is a jump on a March forecast of a 5.4% slump, The Australian reports.
The report states engineering construction peaked in 2012-13 and is expected to plummet 19% over the four years to 2016-17.
A Master Builder’s Association survey on confidence in September has shown a drop in sales, work on the books, and expected activity exceeding actual activity.
MBA chief economist Peter Jones said the construction industries were still gleaning the depth and rate of the drop in engineering construction. He said the MBA’s forecasts predicted a 9.9% drop this year and a 20% drop over three years.
He said all that was needed was a psychological change among business-holders from cost-cutting to growth, “it’s like animal spirits”.
“The key to the outlook is improving confidence,” he said. “We need to have a switch from cost-cutting mode to growth mode.”
The MBA’s September survey of business confidence, released this week stated: “Business conditions fell in the September quarter, and the best that can be said is that the index appears to be finding a floor.”
Housing Industry Association chief economist Harley Dale said the BIS Shrapel forecasts were “reasonable”.
“Residential construction is not looking like filling the void as much as we’d like it to do. It’s a recovery that is taking time to gather breadth.”
He said there was some growth overall, but if NSW and WA figures were excluded here was an insignificant 1% recovery elsewhere.

<hr>
This article first appeared on <a target="_blank" href="https://www.smartcompany.com.au">SmartCompany</a>.
 
</body></html>

Construction recovery guided by 'animal spirits'

A new chapter in Sydney’s urban renewal story begins today as NSW Premier Chris Minns officially turns the sod for Dawn, the fifth stage of Sekisui House Australia’s $5 billion <a href="https://www.apartments.com.au/developments/melrose-park-nsw-2114">Melrose Park</a> masterplanned community.

Developed in partnership with Hankyu Hanshin Properties and built by <a href="https://www.apartments.com.au/builders/decode">Decode</a>, <a href="https://www.apartments.com.au/new-apartments/dawn-melrose-park-bundil-boulevard-melrose-park-nsw-2114">Dawn</a> will deliver 368 parkside residences, forming part of one of NSW’s largest privately owned urban renewal projects.&nbsp;

The milestone marks the start of the next phase in transforming Melrose Park into a new community delivering over 5,500 homes, a mixed-use town centre, 50,000 sqm of open green spaces and several future schools.

[smartcode_project:default project_id=145496 project_image_fid=352993]

Kazunori Ito, Group CEO and Managing Director at <a href="https://www.apartments.com.au/developers/sekisui-house-australia">Sekisui House Australia</a>, said the milestone symbolises the company’s ongoing commitment to job creation, housing supply and sustainable community building.

“This moment represents more than just the start of construction," Ito said.

"It is about building a new urban heart for Sydney’s geographic centre. Dawn and the wider Melrose Park masterplan will generate thousands of jobs, deliver quality homes for families and help more people realise the dream of home ownership.

“We are proud to be supporting the NSW government’s housing targets and expanded Home Guarantee Scheme, which came into effect on 1 October. The program is already opening doors for more first home buyers at Melrose Park, many of whom are using the scheme to purchase with a five per cent deposit and no Lenders’ Mortgage Insurance.”

[smartcode_project:default project_id=145496 project_image_fid=334163]

Since its introduction, the enhanced federal government’s Home Guarantee Scheme has given first home buyers greater access to the property market. With value thresholds in New South Wales now lifted to $1.5 million, buyers can secure a new apartment in Melrose Park sooner, reducing the burden of saving a 20 per cent deposit and removing costly mortgage insurance premiums.&nbsp;

The Dawn precinct, designed by <a href="https://www.apartments.com.au/architects/group-gsa">Group GSA</a> embodies Sekisui House’s global “Love of Humanity” philosophy, integrating sustainability, technology and liveability into every design detail. Residents will enjoy abundant green space, energy efficient features and a direct connection to the future Parramatta Light Rail Stage 2 and Melrose Park Town Centre set to open in 2026.

[smartcode_project:default project_id=145496 project_image_fid=354734]

As part of the NSW government’s long-term commitment to the local community, work recently commenced on the new Melrose Park High School, a state-of-the-art education facility designed to accommodate more than 1,000 students. The school will be within walking distance to Dawn and will become a cornerstone of the precinct’s family friendly environment.

Melrose Park’s smart community vision includes EV charging stations, environmental monitoring systems with Western Sydney University and NBN node to residence connectivity. With over $216 million in planning contributions committed to local and state infrastructure, this project supports NSW’s 30-minute city goal, ensuring residents can live, work and play within easy reach of key employment and lifestyle hubs.

[smartcode_project:default project_id=145496 project_image_fid=334049]

Dawn’s contemporary residences all have secure basement parking and start at $649,000 for a one-bedroom apartment and $1.259 million for three-bedrooms.&nbsp;

The project will also overlook Central Park which spans nearly two hectares and features barbeque and picnic areas, children’s play zones and walking tracks ideal for active residents and pets.

Residents will enjoy exclusive rooftop community facilities including private rooftop gardens, beautifully landscaped podium parks and internal courtyard gardens.

Construction of Dawn, which is being led by regarded builder Decode, will be completed by Q1 2028, adding to Sekisui House’s pipeline of more than 9,000 homes and apartments under development across Australia.

[smartcode_project_cta:default project_id=145496]

Staff Writer

Premier Chris Minns turns sod at Dawn Melrose Park as construction commences

Southport is set for one of its tallest new apartment developments in recent years with the approval of Malua, a 32-level tower just one row back from Broadwater.

The <a href="https://www.apartments.com.au/new-apartments/malua-18-22-norman-street-southport-qld-4215">Norman St tower</a> will comprise 151 apartments within the Southport Priority Development Area. The three adjoining lots, totalling 1,215 sqm, are currently occupied by three two-storey buildings, one a house, and two duplexes.

The majority of the apartments will be two-bedders (126), with just five one-bedroom apartments and 20 three-bedrooms. There will be three basement levels, three podium levels, and a rooftop communal space with a pool, gym, private dining areas and business hub facilities.

<img alt="Malua" data-entity-type="file" data-entity-uuid="21ab3437-de39-432c-b991-f33227b606dd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-11-06%20at%208.41.37%E2%80%AFAM.png?VersionId=_dOcjcvmSMyn6utzzviBVCAgDp5ZCo_N" />

There had been prior approval for a 14-storey building, however those plans became financially unviable.

“The proposed development seeks to resolve financial viability issues of the existing development approval by providing a higher density development with a more favourable unit mix and streamlined design,” the planning report submitted to the Gold Coast City Council noted.

Plus Studio designed the tower which "aims to contribute positively to the evolving Southport skyline, with vertical relief elements, sculpted facades, and rooftop crowning features."

“When stepping into the lobby from Norman Street, pedestrians and residents pass through a sculpted podium of lush green foliage in an earthy entry experience,” Plus wrote in its design report, emphasising the landscape-led approach to the podium and ground plane.

<img alt="Malua" data-entity-type="file" data-entity-uuid="694202c2-be8f-4cde-be26-a494293058a6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-11-06%20at%208.42.15%E2%80%AFAM.png?VersionId=NOIFuolMkoE8vNerov63rnbFRk_TnYUy" />

There is renewed confidence in the development market in Southport. Buyers have jumped at the chance to buy at <a href="https://www.apartments.com.au/new-apartments/maris-southport-20-queen-street-southport-qld-4215">Maris</a>, the latest local Gold Coast development by MRCB. Over 75 per cent of the 192 apartments have been snapped up prior to launching to the market.&nbsp;

The last notable launch in the suburb was in late 2023 when <a href="https://www.apartments.com.au/new-apartments/eden-garden-residences-20-bauer-street-southport">Eden Garden Residences</a> hit the market. The 54 apartments, on the corner of Bauer Street and Chester Terrace, are under construction and due to complete in mid-2026.

Joel Robinson

First look: Southport tower Malua to rise 32 levels in latest Gold Coast approval

Woolworths Group’s development arm, <a href="https://www.apartments.com.au/developers/fabcot">Fabcot</a>, has unveiled its latest mixed-use development.

They are seeking to reshape a prominent site in Gladesville, on the northern edge of the town centre. They've filed a&nbsp;State Significant Development Application for the amalgamated 5,623 sqm block with street frontages to Victoria Road and Eltham Street that will see <a href="https://www.apartments.com.au/new-apartments/363-victoria-road-gladesville-nsw-2111">two buildings with 171 apartments</a> sit above an activated retail ground plane.

The tallest tower, at 13 storeys, will face Victoria Road and home 115 dwellings. A smaller nine-sytorey tower, stepping down to Eltham Street, will have the remaining 56 apartments.

The towers will rise above a podium containing a full-line 3,800 sqm Woolworths supermarket and cafe, activating along the Westminster and Eltham Street frontages.

<img alt="Fabcot" data-entity-type="file" data-entity-uuid="da042a40-288e-41b8-becc-080f235a3717" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-11-06%20at%208.13.26%E2%80%AFAM.png?VersionId=n99ay71Clcy6WLP4Uajw2ph6BA61wboV" />

The residential offering will include 19 one-bedroom, 118 two-bedroom, and 34 three-bedroom apartments. Residents will have access to rooftop communal terraces on both buildings, as well as a podium-level garden, contributing a total of 1,411 sqm of communal open space.

According to the Urban Design Report by <a href="https://www.apartments.com.au/architects/clarke-hopkins-clarke">ClarkeHopkinsClarke</a>, “The massing places height and density along Victoria Road, reinforcing its role as the commercial spine, while stepping down towards neighbouring areas to ensure appropriate scale transitions.”&nbsp;

The design draws inspiration from the local geology and waterways, with curving tower forms and a warm, tactile material palette referencing Hawkesbury sandstone and nearby riverine landscapes.

The proposal also includes basement parking across three to four levels, accommodating 392 car spaces - 190 for retail and 202 for residents.

<img alt="Fabcot" data-entity-type="file" data-entity-uuid="f1a01073-9a13-4ba7-9c14-43c84a751e26" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-11-06%20at%208.13.51%E2%80%AFAM.png?VersionId=KSImA_iSQiIgSRMswm7.5Sg.WRZ0fZjg" />

Fabcot is aiming to deliver a “landmark building with civic presence,” leveraging the prominent corner site to anchor the precinct’s urban renewal.

“The building’s corner location and carefully sculpted form establish it as a landmark for North Gladesville,” the Urban Design Report notes.

ClarkeHopkinsClarke has previously collaborated on other Woolworths mixed-use projects, and here again deploys stepped setbacks, articulation, and extensive landscaping to manage bulk and enhance street-level engagement. A colonnaded brick base provides texture and rhythm to the podium, while upper levels curve softly to maximise views and cross-ventilation.

The development sits within the North Gladesville Precinct, an area earmarked for transformation under Ryde’s local planning strategy. It is well-served by bus connections along Victoria Road and within proximity to community infrastructure, schools, and riverside parkland.

Gladesville is set for a full transformation with developer Third.i also planning a major mixed-use development in the area. They are seeking to redevelop the Gladesville Village Shopping Centre into an&nbsp;integrated precinct with more than 500 apartments, a new supermarket, and significant public domain upgrades.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-third-i-plots-500-unit-redevelopment-of-gladesville-village-shopping-centre">First look: Third.i plots 500-unit redevelopment of Gladesville Village Shopping Centre</a>

Fabcot reveals mixed-use plans for Gladesville town centre

<a href="https://www.apartments.com.au/developers/omaya">Omaya</a> has brought to market a boutique collection of completed, two-storey terraces on Telopea Avenue in <a href="https://www.apartments.com.au/developments/homebush-west-nsw-2140">Homebush West</a>, offering buyers the opportunity to move straight into brand-new homes in a connected inner-west location.

<a href="https://www.apartments.com.au/buildings/telopea-avenue-homebush-west-24-36-telopea-avenue-homebush-west-nsw-2140">Telopea Avenue</a> comprises four-bedroom terraces with internal basement parking, designed to balance functionality with contemporary interiors.

[smartcode_project:default project_id=150682 project_image_fid=6085]

Each residence is arranged across two levels, with layouts tailored to families seeking more space or downsizers wanting low-maintenance living without compromise. Skylights and large windows maximise natural light throughout the interiors, while private terraces and balconies extend living outdoors.

Inside, hybrid timber flooring flows through living and bedroom spaces, complemented by built-in wardrobes with polyurethane finishes and melamine shelving.&nbsp;

Kitchens feature Bianco Imperial Granite benchtops and splashbacks, paired with Smeg appliances including a five-burner gas cooktop, oven, rangehood, and integrated dishwasher.&nbsp;

Bathrooms continue the refined detailing with porcelain tiling, granite accents, gun metal tapware, and integrated LED lighting.

[smartcode_project:default project_id=150682 project_image_fid=6072]

Landscaped surrounds create a sense of greenery within the community, while individual home designs ensure each terrace retains its own character.

Positioned within a quiet residential pocket, the project sits only minutes from the activity centres of Strathfield, North Strathfield, Homebush, and Lidcombe, as well as the broader lifestyle and employment precinct of Sydney Olympic Park.

Residents also benefit from the project’s proximity to transport and amenity. Homebush and Flemington stations provide direct rail access to the Sydney CBD, with major road connections including Parramatta Road and the M4 close by.&nbsp;

[smartcode_project:default project_id=150682 project_image_fid=6064]

Local shops, Sydney Markets, and Strathfield Plaza cater to daily needs, while the area is well-serviced by schools, childcare centres, and universities.&nbsp;

Nearby Sydney Olympic Park and Bicentennial Park add further lifestyle appeal, offering walking trails, sports facilities, and year-round cultural events.

The terraces are delivered by Omaya, a family-run Sydney developer and builder with more than 35 years of experience and over 1,000 dwellings in its pipeline.

[smartcode_project_cta:default project_id=150682]

Omaya delivers complete and move-in ready terraces on Telopea Avenue, Homebush West

Melbourne-based developer&nbsp;<a href="https://www.apartments.com.au/developers/las-group">LAS Group</a> has this month received planning approval for two adjoining sites, 101 Clarendon Street and 38 Clarke Street in Southbank, that will add around $700 million to the developer’s pipeline on completion.

The two sites were purchased from Crown in 2023 and occupy the same city block as the iconic Casino complex, acquired in an on-market transaction, consisting of multiple titles that were being used as warehouses and low-rise office space.

The resulting permits will see the delivery of two towers consisting of 52 and 25 levels, both to be designed by Fender Katsalidis.

LAS Group’s successful planning approvals are among only a select few new development sites in Southbank to receive a permit in the last three years, as appropriate sites become even more scarce in the popular city-side location.

The projects will enjoy immediate walking access to Crown Casino, South Wharf, the Aquarium, Southbank and the wider Yarra River walk precinct that features a plethora of restaurants, bars and other hospitality and entertainment offerings.

The Fender Katsalidis-designed towers will feature intricate brick masonry and arched windows at street level that will add character to the Southbank streetscape, with sleek towers rising above each podium.

The larger of the two towers, <a href="https://www.apartments.com.au/new-apartments/101-clarendon-street-southbank-vic-3006">101 Clarendon Street</a>, will have 509 apartments across a 52-level building that wuill also include a resident&nbsp;lounge, private dining room, podcast room, golf simulator, co-working spaces, pet care facilities, and an outdoor terrace.

That is expected to complete in 2029.

<img alt="Clarendon" data-entity-type="file" data-entity-uuid="9d8595a7-d225-4532-86a9-d3c5ca7407d4" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-11-05%20at%208.28.51%E2%80%AFAM.png?VersionId=quwbfnhk5Vf6yR1Qj0GQtt0EjeIsKMci" /> 
The podium at 101 Clarendon Street. Image supplied

The smaller tower at <a href="https://www.apartments.com.au/new-apartments/36-42-clarke-street-southbank-vic-3006">38 Clarke Street</a> will be around half the size at 25 levels and home 188 apartments, a pool, gym, cold plunge, and sauna. That is expected to complete in 2028.

&nbsp;

LAS Group has a long history of developing key sites across Australia, including The Fawkner on St Kilda Road and Guild Apartments in Southbank, as well as holding significant interests in retail, mixed-use and storage facilities across Australia.

<img alt="38 Clarke" data-entity-type="file" data-entity-uuid="d871b034-d2a4-490f-b9eb-b9d4b99a04c5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-11-05%20at%208.28.44%E2%80%AFAM.png?VersionId=J3fWfemsLPQzXekl_h0QlsXoWFnRbfRF" /> 
38 Clarke Street, Southbank. Image supplied

LAS Group director and founder Les Smith said the planning approvals had come at a time when confidence was returning to the market and the need to deliver quality apartment stock in Melbourne’s inner suburbs was becoming critical to help ease the housing and affordability crisis.

“These planning approvals are the outcome of a collaborative process with multiple stakeholders and we are grateful for the involvement and support of Melbourne Water, the Department of Transport and Planning, Melbourne City Council and Property Council of Australia along the way," Smith said.

“We have a huge affinity for Melbourne believe the macro and micro economic factors that underpin long-term growth mean it is currently undervalued compared to other capital cities around Australia.

“Confidence is starting to return given the recent interest rate drops and the buoyancy in the economic climate, so we believe the time is right to bring these two new projects to market in the coming months."

LAS Group General Manager, Mia Smith said the design intent was to bring a sense of place to Southbank from the ground level and contribute positively to the thriving entertainment precinct, while delivering good quality, affordable stock to the market.

“These projects will deliver product that is affordable and accessible, while delivering a beautiful building with luxury appointments, in a wonderful location that’s next door to Crown Casino and the Southbank entertainment precinct, and on the doorstep to the CBD," Smith said.

“We are incredibly pleased with the designs that Fender Katsalidis have proposed and we are excited to make a positive impact to the urban design of this important pocket of Southbank with these exceptional design outcomes.”

Dan Moss

Editor's Picks

Have something to contribute?

The latest real estate & off the plan properties & news, delivered to your inbox.

Developments

New apartments

New townhouses

News

The latest real estate & off the plan properties & news, delivered to your inbox.

Dan Moss

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

The latest real estate & off the plan properties & news, delivered to your inbox.

Developments

New apartments

New townhouses

News

The latest real estate & off the plan properties & news, delivered to your inbox.