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The remaining Crazy Clark’s and Sam’s Warehouse retail stores are expected to close by the end of August, after receivers KordaMentha were unable to find a buyer for the troubled discount retail chain.
As of next Sunday, 17 August, there will be just 15 outlets still operating in the Retail Adventures chain, the parent company of which, DSG Holdings, was <a href="https://www.smartcompany.com.au/growth/42635-jan-cameron-s-retail-adventures-goes-under-for-a-third-time" target="_blank">placed in administration at the start of July</a>.
But receiver Rohul Goyal said in a statement late last week “there has been no buyer for the group or any sizeable part of the group” and the last of the chain’s stores will close on 31 August.
While a spokesperson for KordaMentha told SmartCompany this morning it is possible someone may purchase one or a few of the remaining outlets, 90% of the chain’s stores have already been closed or are in the process of closing.
The latest round of store closures, <a href="https://www.smartcompany.com.au/finance/43189-another-round-of-store-closures-for-retail-adventures-optus-says-data-retention-will-cost-200-million-midday-roundup" target="_blank">announced on Thursday</a>, brings the total number of stores closures to 128 and the total number of employees affected to nearly 1,800.
KordaMentha has also closed the DSG Holdings distribution centre at the Port of Brisbane, where 30 people worked.
The receivers <a href="https://www.smartcompany.com.au/growth/43099-retail-adventures-sale-extremely-unlikely-say-receivers-as-another-22-stores-close" target="_blank">previously said</a> they hope to pay employee entitlements, amounting to $10 million, by the end of September.
While Retail Adventures has survived two previous administrations, with former BRW Rich Lister Jan Cameron <a href="https://www.smartcompany.com.au/growth/economy/30298-jan-cameron-buys-back-retail-adventures-for--58-9-million-but-may-face-legal-battle-with-creditors" target="_blank">buying the company out of administration on two occasions</a>, it appears the chain, which relied on a high-volume, low-price strategy, has come to the end of its line.
Brian Walker, chief executive of the Retail Doctor Group, told SmartCompany the result isn’t surprising, as general discount retailers such as Crazy Clark’s and Sam’s Warehouse rely on a “fragile model” of “high volume and low overheads, in good locations”.
While Walker says these chains may have had “some good performing stores with good numbers”, strong results in a few locations are often not enough to carry a whole chain.
“They have such thin margins to start with, and faced with rising costs, it is very hard to differentiate themselves against the big players with bigger advertising muscle,” says Walker.
Walker says the likes of Target and Big W have made “inroads” in the discount market through their pricing and merchandising strategies, in much the same way the supermarket sector is now dominated by Coles and Woolworths.
“And then we have the whole world of online,” he says.
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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Last of Jan Cameron’s Retail Adventures stores to close by end of August

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He is a household name in Hollywood and the former governor of California, but Arnold Schwarzenegger’s latest role has a distinctly Australian bent.
The famous bodybuilder-turned-actor-turned-politician is the <a href="/news/left-field-realestate-com-au-puts-wagga-wagga-on-the-map-with-weird-arnold-schwarzenegger-ad">face of the latest RealEstate.com.au advertising campaign</a>, as the online property site repositions itself to become a destination for much more than just property listings.
Arnie is just one part of RealEstate.com.au’s ‘Australia Lives Here’ story—the main character is Dylan, an Aussie who went looking for fame in Hollywood and ended up working for The Terminator star — and the campaign incorporates all facets of social media as well as TV and online video commercials.
The campaign was created by Australian advertising agency BWM, whose executive creative director Murray White and <a href="https://www.smartcompany.com.au/leadership/profiles/42829-bold-horizons-how-mark-watkin-brings-an-entrepreneurial-streak-to-independent-advertising-agency-bwm" target="_blank">Melbourne managing director Mark Watkin</a> said they used their Los Angeles connections to get the star involved.
“We believed we could get Arnie based on our contacts, and we’d both worked with celebrities before,” says White.
Seven of the campaign’s ads will feature Arnie, who confuses Australia with Austria and then goes on a journey of discovering the country, aided of course by RealEstate.com.au. Arnie’s clips were filmed in the one day, with the whole shoot taking three days, says White.
“Arnie has that star factor and [featuring him in the campaign] would allow us to announce REA in a bigger way,” he says. “He was the perfect choice.”
“Arnie has this amazing comedic talent that everyone has forgotten about and we knew if we could get the ‘funny Arnie’ on the day, we would have something special,” says White.
But BWM did not start out with the idea of building a campaign around Arnie. Instead, the campaign started with the simple aim to “take Australia’s number one real estate site and convince people it is about more than just listings”, says White.
“Property is such a national passion but it’s also a personal thing so we wanted to tap into this personal significance,” he says. “So it made sense to use Arnie’s journey of discovery of what REA can do for him, to show what it can do for any of us.”
“The discovery aspect is critical,” says Watkin. “We go on a journey with Arnie as he discovers this wonderful product and the accidental nature of it all provides the humour.”
But the duo says it was a conscious decision for Arnie not to become a spokesperson or representative for REA, and instead be a character in the story.
“And we made a clear blanket rule that Arnie would never deliver his well-known cliché lines,” says White. “That would have been tapping into his well-known characters instead of allowing him to grow.”
“The worst thing we could have done is given people the expected,” he says.
Watkin describes the campaign as a “confident” step for a brand such as REA and so far it has been received well: the videos have attracted more than 750,000 hits on YouTube since the launch at the start of the week.
Both White and Watkin say the process of building the campaign with REA was highly collaborative and the strong concept of ‘Australia Lives Here’ allowed the creative team to build a “narrative arc”, which will feed into an ongoing social media campaign.
“What you’ve seen so far is just the tip of the iceberg,” says Watkin. “There’s a whole back story, it’s quite a deep campaign.”
And it’s a campaign that fits squarely within BWM’s philosophy of producing content that “gets Australians talking”, says Watkin.
“It has huge talkability, participation and engagement,” he says.
{qtube vid:=8VKoOyv4h08}
This article first appeared on <a href="https://www.SmartCompany.com.au" target="_blank">SmartCompany</a>.
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How an Australian ad agency convinced Arnold Schwarzenegger to appear in its ads

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The takeover of department store David Jones looks set to proceed, with the $2.2 billion takeover bid from Woolworths South Africa given the green light from the company’s shareholders yesterday.
<a href="https://www.businessspectator.com.au/news/2014/7/14/dataroom/shareholders-back-djs-22bn-takeover" target="_blank">According to Business Spectator</a>, 89.6% of David Jones shareholders voted in favour of the deal, with 10.4% registering their vote against. David Jones previously said 96.48% of proxy votes were cast in support of the takeover.
The results from today’s vote mean Woolworths has satisfied the two hurdles needed for the deal to go ahead: majority support from the David Jones shareholders present and voting, and at least 75% of the total number of votes by David Jones shareholders present and voting either in person or by proxy.
Yesterday’s vote had been delayed after it was revealed retail giant Solomon Lew had <a href="https://www.smartcompany.com.au/growth/economy/42444-stakes-increased-in-retail-battle-for-djs-as-solomon-lew-grabs-shares-disclosure-breach-to-cost-newcrest-1-2m-midday-roundup" target="_blank">bought up just short of 10% of David Jones’ shares</a>.
The approval of Woolworths’ bid for David Jones by shareholders also paves the way for <a href="https://www.smartcompany.com.au/growth/economy/42526-greens-won-t-support-fuel-tax-hike-woolworths-wants-lew-s-share-of-country-road-midday-roundup" target="_blank">Woolworths to acquire Lew’s 12% share in fashion brand Country Road</a>, of which it already owns 88%.
This article first appeared on <a href="https://www.SmartCompany.com.au" target="_blank">SmartCompany</a>.
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David Jones shareholders support Woolworths takeover bid

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Stocktake sales have enticed Australian shoppers to open up their wallets after the May budget, with retail sales up 18.4% in the past two weeks.
While retail sales took a hit after the <a href="https://www.smartcompany.com.au/federal-budget-2014/765-finance/41935-budget-2014-small-business-reacts-to-not-a-bad-budget" target="_blank">Abbott government’s first budget</a>, data from the Australian Retail Index shows the sector finished off the 2013-14 financial year on a strong note with 4.1% growth in June.
“After a slump in sales post the release of the federal budget, shoppers were quick to forget their concerns, and return with confidence,” said Simon Scalzo, national retail lead partner of BDO, one of the firms behind the Australian Retail Index.
Russell Zimmerman, executive director of the Australian Retailers Association, told SmartCompany he has seen a similar recovery in sales since the budget.
While Zimmerman says it is hard to say for sure which factors caused lower retail sales in May, he says it is fair to say “consumers kicked back” against the budget. Shoppers were also less likely to purchase winter goods in May due to unusually warm weather, he says.
“What we are hearing is that it has come good in the past few weeks and that is in part due to the return of the cold weather that retailers were looking for,” says Zimmerman.
“I think some consumers are also realising the budget was not as bad as they initially thought.”
“But I would caution it is not across the board,” he says. “Some retailers have said it hasn’t been as strong, including some SMEs and those in the hardware sector. Some have said it has been tough.”
Nevertheless, Zimmerman says the sector had “generally not a bad finish” to the end of the financial year, led by the department stores which appear to have benefited from their traditional mid-year stocktake sales.
While Zimmerman says stocktake sales might not be as popular as they were 20 years ago, he says they “absolutely” still make a difference to the country’s retailers.
“People still believe in the stocktake sale. It’s the same with Boxing Day,” says Zimmerman.
The Australian Retail Index, which was <a href="https://www.smartcompany.com.au/marketing/sales/41642-new-retail-sales-index-to-give-shop-owners-daily-data" target="_blank">launched in April</a>, also tracks fluctuations across different retail categories, including furniture and homewares, fashion and accessories, sporting goods and other general retail.
Scalzo says the furniture and homewares category proved the most stable throughout the 2013-14 financial year, while fashion and accessories and other general retail proved the most volatile.
But while the retail sector appears to be well-placed heading into the new financial year, Scalzo says retailers should brace themselves for the winter months.
“If history is anything to go by, retailers should expect activity to be short-lived over the remaining cooler months, with historic consumer confidence showing a dip in sales between August and October,” says Scalzo.
<img src="https://www.smartcompany.com.au/images/retail%20story%20graph%20070714.jpg" width="548" height="463">
Source: Australian Retail Index
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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Retail sector finishes financial year on a high: Spend recovers after budget slump

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Real estate runs through Michael Fox’s veins. The 47-year-old Melburnian started his career managing residential properties, working his way into commercial sales before landing the job of looking after the property assets of Toll Holdings. It was at Toll that Fox met his future business partner Paul Little, and the duo developed their first property together in 2009. Their development company Little Projects sold 800 apartments last year and generated approximately $300 million in sales.
My background spans 25 years in the real estate business. I started out in residential property management and went through to residential sales and then commercial sales and leasing.
I worked at some of Melbourne’s largest real estate firms like McGees and Knight Frank, before moving into the corporate real estate world, looking after the real estate needs of large companies like the Smorgon Group. After Smorgon, I went to Toll Holdings where I looked after all the property matters for Toll, which is the largest transport and logistics company in Australia. At the time, my business partner Paul Little was managing director at Toll.
Our company really started by accident. I came across a spot in Richmond that I thought I could do something with and I spoke to Paul about it. So it was a combination of my expertise and his bank account.
The first development was in Stawell Street in Richmond, where we sold 133 apartments off the plan. Our second site was the Bunnings development in Burwood.
From that point, Little Projects really flourished and we bought a number of other sites. At that stage we had another partner who ran the development side of things and we only did one project every few years.
We are now probably Melbourne’s largest property developer and we sold 800 apartments last year. We focus on inner-city development sites in prime locations. We developed 159 apartments on Fitzroy Street in St Kilda, 250 in Bay Street Port Melbourne, and 388 on Toorak Road in South Yarra. We’ve recently finished developing 411 apartments at the old Tip Top Bakery in East Brunswick and started work on 367 apartments at our latest project, Central South Yarra. From there, we’ve sold off a plan 15 months before completion.
The business has gone from doing one project every few years to one of the largest developers in town. We have 1500 units in planning right now.
Little Projects was one of the first property developers to also offer property management to clients and that sort of harks back to my property management days.  
My expertise in the development side of the business comes from my time at Smorgon and Toll, where I managed close to $1 billion of development over the 10 to 13 years I was there. My experience there was quite broad and varied.
We’ve achieved amazing success in the close to four years that I have been doing this full-time. We went from nowhere to being one of the biggest in town. We’re a small team but we really try to offer something different.
Our secret has always been buying in the right place and right location. We focus on developing locations in prime city-fringe locations, close to public transport. That’s the key to the whole thing: fantastic locations with better than average apartments.
Melburnians have learned to embrace apartment living. And they are not just living in smaller spaces, but embracing whole buildings and community living spaces.
We have always used a business plan. We have pretty good discipline in our business, which comes from our public company backgrounds and the rigours around public company life.
I tell people I think I’ve got the best team going around in Melbourne. Little Projects currently employs 25 professionals. The key is that it is not all about me. It’s also about the people we employ. We only employ the best.
Marketing is an absolutely critical part of the business. We’ve worked pretty hard at developing our brand as a quality developer and we completely committed to pushing our name hard. We’re only as good as what we deliver.
Our property management business is an important part of this. We lease apartments before we finish settling and building. None of our apartments go without a tenant for too long. It is all integrated.
Our next project at Lorimer Street in South Wharf will be something Melbourne hasn’t seen before: twin towers with community facilities, including swimming pools. It is loosely based on some developments overseas [but] it will be well and truly above what others have done.
We’re also looking at expanding interstate. We are watching those markets, although we’re cautious about the next steps. You never want to get too far ahead of yourselves.
I think the real estate market is still reasonably strong. In the earlier days, we had good demand from the first home buyer grants, and this was followed by self-managed super funds. At the moment there is a pretty good push from overseas investors in Melbourne.
This article first appeared on <a href="https://www.SmartCompany.com.au" target="_blank">SmartCompany.</a>
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How Michael Fox built one of Melbourne’s largest property developers

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A Melbourne man who claimed to be a financial planner faced the Magistrates’ Court this week, charged over his involvement in a <a href="https://www.smartcompany.com.au/legal/42108-business-group-swindled-out-of-800-000-through-fraud" target="_blank">fraud</a> scheme said to be worth $100 million over 10 years.
<a href="https://www.theage.com.au/victoria/poker-pro-faces-142-charges-over-100m-fraud-20140528-394ev" target="_blank">Fairfax reports</a> Bill Jordanou, 55, faces 142 charges relating to 40 incidents between 2004 and 2013, including more than 100 charges of “obtaining a financial advantage”, often in the form of home loans and electronic transfers into home loan accounts.
Jordanou is also facing charges related to obtaining property by deception, conspiring to defraud the Commonwealth Bank, ANZ Bank, Bankwest, Bank of Melbourne and Bank of Queensland, conspiring to pervert the course of justice, and the theft of a Mercedes-Benz.
Prosecutor Luke Excell told Fairfax Jordanou is “alleged to have drawn funds using false client approvals and invoices … then used it across various property developments as well as maintaining a lifestyle.”
Excell said Victoria Police became aware of Jordanou’s activities, and those of his associates, when the Commonwealth Bank discovered a number of loan applications lodged on behalf of Jordanou’s clients were supported by false documents, including ATO documents, letters of employment and financial statements.
The bank lodged complaints against accounting firm Zaia Arthur &amp; Associates, where Jordanou was working as a “financial adviser” at the time.
SmartCompany attempted to contact Zaia Arthur &amp; Associates this morning but the phone number listed for the firm has been disconnected.
Jordanou’s lawyer, George Defteros, told Fairfax his client has “been waiting for these charges for two-and-a-half years … and we welcome these charges because Mr Jordanou wants to get on with his life”.
Mark Rantall, chief executive of the Financial Planning Association of Australia told SmartCompany there are a number of rules individual investors and small business owners should follow to safeguard themselves against unsound financial advice.
Rantall says the "golden rule" is to always check the qualifications of the person giving the advice and to make sure they are a member of the FPA, which is the national professional association for financial planners.
“The second golden rule is that if something sounds too good to be true, it usually is,” says Rantall. “If you are being offered a get-rich-quick scheme, the risk associated with that scheme will be extraordinarily high.”
“The third rule is that your financial planner should spend more time talking about you and your investments, than themselves and the products they may be offering,” says Rantall.
Rantall says it is also important to make sure your financial plan matches your own personal risk profile, and that your investments are diversified across different products and different asset categories.
“The final thing would be to make sure you keep you to date with your portfolio and that you always feel comfortable with the investments being recommended,” says Rantall. 
A spokesperson for the FPA told SmartCompany individuals and business owners who are concerned about receiving sound financial advice can use the <a href="https://fpa.com.au/find-a-planner" target="_blank">“Find a Financial Planner” function</a> of the FPA’s website to find an expert, as FPA members are held to higher professional standards. 
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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Melbourne financial planner faces court over $100 million fraud charge

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It seems Australians place a lot of value on the humble handyman, with the market for small home repairs and maintenance set to grow to $881.9 million in 2018-19.
And it’s the <a href="https://www.smartcompany.com.au/growth/franchising/32446-the-seven-essential-elements-of-respect-in-a-successful-franchise-relationship">franchise companies</a> operating in the sector that are reaping the benefits.
According to a report published by IBISWorld this month, the local tradesman and handyman franchise industry currently generates revenues of $881.9 million, with profits totalling $418.9 million.
The industry has been growing at a rate of 3.2% since 2009, with annual growth set to chug along at a rate of 2.2% per year.
The sector employs close to 8000 Australians, with well-known brands such as Jim’s Group, VIP Home Services and Hire a Hubby the leaders when it comes to market share.
According to IBISWorld, the sector has blossomed due to the increasing number of Australians who lack the time and expertise to perform tasks around the home.
The sector has also benefitted from the steady rise in the number of households across Australia during the past five years and growth in capital expenditure on private properties.
Grey Army, a handyman business that predominately employs people over the age of 40, is one company to have benefited from the recent growth in the sector.
General manager Greg Miles told SmartCompany the business started 21 years ago, using sub-contractors to deliver “trustworthy and reliable” home maintenance to older Australians who are looking for old-fashioned service.
The business began franchising around 10 years ago and now has 75 individual franchises operating across Melbourne, with other master franchise agreements in place in the other states.
And while the business has “ebbed and flowed” over its lifetime, Miles says the company has experienced consistent growth over recent years.
Miles says many of the people who approach Grey Army to open a franchise are from all walks of life, and don’t necessarily come from a trade background, with the economic downturn of a few years ago influencing many older workers who had lost their jobs to look to operating a handyman franchise as a way of securing their future.
Miles says the market handyman franchise market is getting more competitive, although there are many “fringe dwellers” on the edges of the industry who are trying to operate their own business.
For the Grey Army, Australia’s ageing population is a major influence, with the company’s franchisees and its clients generally falling into the Baby Boomer generation.
“But it’s the same with any industry that is growing, there will always be more people looking to enter the industry,” says Miles.
This article first appeared on <a href="https://www.SmartCompany.com.au" target="_blank">SmartCompany</a>.
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Local handyman industry set to grow to close to $1 billion in five years

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There is growing uncertainty over the future of Australian retail chain Diva, with reports emerging that the business is in the process of switching at least some of its stores to sister-brand Lovisa.
At the same time, the <a href="https://www.jewellermagazine.com/Article.aspx?id=4107&amp;h=Diva-stores-shutting-down%2c-or-maybe-not" target="_blank">Jeweller Magazine reports</a> numerous Diva stores have recently closed, including a prominent store in Westfield Parramatta in Sydney.
Staff at two Diva stores in Melbourne contacted by SmartCompany this morning said the brand is in the process of switching to the Lovisa name, although one store manager said her store won’t be changing. The same manager confirmed the Diva website has ceased operating.
Another Melbourne store contacted by SmartCompany had switched to the Lovisa brand around 12 months ago. The phone number listed for the Diva store in Rundle Mall, Adelaide, has been disconnected.
SmartCompany contacted the Lovisa head office, and the head office of parent company BB Retail Capital, but is still awaiting a response.
Jeweller Magazine also contacted numerous Diva stores, only to be given confusing explanations as to the future of the business. Some stores told the publication that all Diva stores are closing, while others said all Diva stores are changing to Lovisa.
Others said some Diva stores will continue to operate while others will change to Lovisa, and some stores said they are changing to “a completely new brand”.
Customers have left several messages on the <a href="https://www.facebook.com/divafanpage" target="_blank">Diva Facebook page</a>, asking what is happening to the chain, but their concerns have gone unanswered. The Diva <a href="https://twitter.com/divaaccessories" target="_blank">Twitter</a> and <a href="https://instagram.com/divaaccessories" target="_blank">Instagram</a> accounts have not been updated since December.
Diva was founded in 2003 by Colette and Mark Hayman, who sold the business to <a href="https://www.smartcompany.com.au/growth/17786-20101207-retail-rich-list-veteran-brett-blundy-sells-off-two-retail-chains" target="_blank">millionaire Rich Lister Brett Blundy</a> in 2005, joining Blundy’s other retail interests including Bras ‘N’ Things as part of the BB Retail Capital Group.
According to Jeweller Magazine, at the height of the Diva brand, the company was operating close to 200 stores in Australia and New Zealand and up to another 400 in international markets.
BB Retail Capital launched fellow fashion jewellery brand Lovisa brand in 2010, which is now reported to operate 158 stores in Australia and around 36 internationally.
Brian Walker, chief executive of the Retail Doctor Group, told SmartCompany he has heard anecdotal stories about changes happening at Diva, but says he would be surprised if BB Retail Capital did not continue the Diva brand “in some shape or form”.
“Diva has been a highly successful and highly profitable business and for the past two years has been the mainstay, or cash cow, of Brett Blundy’s retail companies,” says Walker. “These types of businesses operate on 80% plus gross profit.”
<img src="https://www.smartcompany.com.au/images/facebook-542-287.jpg" width="542" height="287">
Walker says it is possible Diva has not been generating the same metrics as Lovisa in recent times, but he expects the chain is “still a very viable business”. And he says the success of the brand leads him to think the closure of the website has been caused by a temporary technical glitch.
However, Walker says the market for inexpensive fashion jewellery is “reaching saturation point for both physical stores and online”.
“The creative force behind Diva really did come from [founders] the Haymans and the brand expanded rapidly,” says Walker. “But it now operates in a sea of competition, which it has partly created itself through the Lovisa brand.”
While Lovisa is pitched at a slightly older audience than Diva, Walker says there is some overlap between the two markets.
This article first appeared on <a href="https://www.SmartCompany.com.au" target="_blank">SmartCompany</a>.
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What’s happening at Diva? Confusion over future of Australian fashion accessories chain

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The federal government and opposition are at loggerheads over when Australians should be allowed to access their superannuation.
Following the government’s decision to <a href="https://www.smartcompany.com.au/growth/41788-fast-lane-getting-ready-to-work-until-i-m-70">raise the age at which retired Australians will be able to receive the age pension</a>, Treasurer Joe Hockey said on Monday changes to the super preservation age is “on [his] mind and on Tony Abbott’s mind”.
However, Opposition Leader Bill Shorten has vowed to vote against any changes to the superannuation preservation age, <a href="https://www.afr.com/p/national/labor_vows_to_block_rise_in_superannuation_aQkZWm68JPXCzck0rZpZqL">reports Fairfax</a>.
“Where does Joe Hockey get off saying to Australians, nine million Australians with superannuation, ‘I am going to make you wait until you get your money’,” said Shorten.
“First of all he wants pensioners to pay more, secondly he wants people to work until 70. But on superannuation, it’s not even the government’s money,” he said.
Under current arrangements, Australians born before June 30, 1960 can dip into their super savings at the age of 55, while those born between July 1, 1960 and June 30, 1964 can gain access between the ages of 56 and 59. The preservation age for Australians born after July 1, 1964 is 60.
As <a href="https://www.smartcompany.com.au/legal/politics/41533-are-you-ready-to-work-until-you-re-70-hockey-flags-plans-to-raise-retirement-age">previously reported by SmartCompany</a>, the government wants to lift the pension age to 70 from 2035. The previous Labor government legislated to life the pension age from 65 to 67 by 2023.
While the government has said there will be “no adverse changes” to superannuation in its first term, Fairfaxreports it will take any proposed changes to the next federal election, scheduled for 2016.
“I think it’s something that we need to have a proper process to discuss with all the affected stakeholders,” said Hockey.
“We’re thinking about how we’re going to make sure that the quality of life for Australians into the future is sustainable,” he said.
Martin Parkinson, the outgoing Treasury secretary, backed up the government in his post-budget speech on Tuesday, telling the audience at an Australian Business Economists event that a change in the preservation age is “inevitable”.
While Parkinson did not specify the age at which he thinks retirees should gain access to their savings, he called for a more “sensible” debate on superannuation.
Michael Davison, senior policy adviser at CPA Australia, told SmartCompany while CPA Australia sees “merit in ensuring that the preservation age remains aligned to the pension age”, it is important there are provisions for people to access their super sooner “if their personal circumstances make waiting impossible”.
“But before we start ruling options in or out, we also think it is vital to articulate a long-term vision for our retirement savings policy which clearly spells out its purpose and goals and ensure, as compulsory super matures, that the age pension shifts back from supplementing retirement savings to being a genuine safety net,” said Davison.
“That means developing a retirement income stream culture that encourages income streams and discourages lump sums. We do accumulation well, we don’t do decumulation well at all,” he said.
The Australian Institute for Superannuation Trustees has previously backed calls by the National Commission of Audit to tie the preservation age to the pension age, but warned the government against making “piecemeal changes” to retirement income policies.
“When it comes to fair and sustainable retirement policy, we need to think about all the policy levers that can be adjusted, not just one or two,” said chief executive Tom Garcia.
Garcia said many Australians are forced out of work early and do not get to choose when they retire.
“Policies are meant to improve people’s lives so any changes affecting access or eligibility to the age pension or superannuation shouldn’t be about punishing disadvantages and vulnerable Australians,” he said.
This article first appeared on <a href="https://www.SmartCompany.com.au" target="_blank">SmartCompany</a>.
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Political battlelines drawn over when retired workers should be allowed to access their super

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Restaurant and café owners around the country are celebrating today following a landmark decision by the Fair Work Commission to reduce the 75% penalty rate for casual employees on Sundays to 50%.
John Hart, chief executive of the Restaurant and Catering Industry Association, said this morning his association had been flooded by calls from its 35,000 members restaurant who said “loud and clear” they will now consider trading on Sundays when the reduced rate comes into effect on 1 July.
Hart says many businesses have been waiting on the decision, which is the result of the association’s long battle to have the penalty rates introduced by the 2010 Restaurant Industry Award amended.
The association had made an application for changes to penalty rates, classification structures and payment of wages under the Modern Awards Review Process in 2012, which was <a href="https://www.smartcompany.com.au/people/industrial-relations/34103-fair-work-commission-denies-changes-to-penalty-rates-hospitality-industry--small-business-furious" target="_blank">rejected in October 2013</a>.
The association subsequently <a href="https://www.smartcompany.com.au/people/industrial-relations/34432-restaurateurs-appeal-penalty-rates-decision-industry-body-calls-weekend-rates-commercially-unviable" target="_blank">lodged an appeal</a> with the full bench of the Fair Work Commission, which <a href="https://www.fwc.gov.au/documents/documents/summaries/2014fwcfb1996_summary.pdf" target="_blank">accepted</a> on Wednesday the association’s argument that there is a direct link between penalty rates and employment prospects.
“It’s a good first step and it’s enough for businesses to reconsider opening on Sundays,” says Hart.
“This decision really resets the operating environment for the weekend as we now have a penalty rate structure for casuals that is the same as for Saturdays.”
Hart says the majority of businesses operating in the industry are small businesses and the ruling “applies to them almost exclusively as the large companies have different arrangements”.
“This is great news for operators and for staff as there will now be more hours of work available,” says Hart. “And it is great news for consumers, who will have more restaurants to choose from on Sundays. It’s a win for everyone.”
Peter Strong, executive director of the Council of Small Business of Australia, <a href="https://www.smartcompany.com.au/people/industrial-relations/34103-fair-work-commission-denies-changes-to-penalty-rates-hospitality-industry--small-business-furious" target="_blank">previously told SmartCompany</a> he heard several tales of businesses being closed on Saturdays and Sundays because they could not afford to pay penalty rates.
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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Landmark decision by Fair Work cuts restaurant Sunday penalty rate by 25%

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>

&nbsp;

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]

Eloise Keating

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