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Bids to buy Australia's biggest irrigator, the sprawling Cubbie Station, reportedly closed this week.
The bidders have been tipped to include PrimeAg, which reportedly wants to take advantage of weak prices for more than $1 billion of irrigated cotton properties currently on the market.
The Australian Financial Review has reported these include Cubbie Station near Dirranbandi, Queensland, although disruptions to PrimeAg's capital raising may have upset its bid plans.
The potential foreign buyers are likely to include Hong Kong-linked Eastern Australia Agriculture, which has already snapped up a string of properties in the cotton-growing district of St George, on the Queensland-NSW border.
The Cayman Islands-based company is backed by Hong Kong-based Pacific Alliance Group, as well as British investors.
Chinese interest including the ­textile producer Shandong YuYi Huagong and private equity firm Olympus Capital Holdings Asia have been looking at large-scale mixed farming assets in Australia.
Hedge funds based in Hong Kong are also among the mooted interested parties.
The Australian newspaper has speculated the vast Cubbie cotton station in southwest Queensland is being eyed by Middle Eastern buyers.
Foreign purchases of more than $231 million will require FIRB approval.
McGrath Nicol are the receivers of Cubbie Station, which went into voluntary administration during the 2009 drought with debts of more than $320 million.
A McGrath Nicol spokesperson would not confirm that bidding had been closed, only saying that receivers had hopes for a sale this year.
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Bidding for Cubbie Station reportedly closed

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Fashion giant Zara has ended months of speculation with confirmation it will launch into Adelaide this year, taking up occupancy in the Burnside Village complex.
It is among a number of fashion retail openings scheduled for the shopping centre, which has undergone a $100 million redevelopment by the Cohen Group.
The majority of stores are scheduled to open in October, followed by Zara in November.
Sass &amp; Bide, Oroton, Saba, Karen Millen, Sportscraft Signature and Charlie Brown will be among the high-profile fashion occupants at Burnside, which is a middle class eastern suburb about four kilometres from the Adelaide CBD.
The Zara site will be among the largest in Australia, spanning 2300 square metres. The leasing deal was negotiated by Colliers International agent Ben Laycock.
The two-level store will be based on the design of Zara's recently opened Fifth Avenue, New York store.
Zara successfully launched into the Australian market earlier this year, with concept sites in Westfield Sydney and on Bourke Street, Melbourne.
Laycock says Zara had not ruled out taking space at the Rundle Mall in Adelaide at a later date.
Zara has 1,700 stores worldwide with sales of about $10 billion last year.
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Zara to launch in Adelaide in November

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Wayne Ormond’s Refund Group has launched its first Refund Real Estate office, in south Brisbane.
After its inaugural office, Ormond now envisages a franchise network across all states.
The offices will be within the rapidly growing Refund mortgage broking and financial services group.
The next Refund Real Estate offices are expected for Broadbeach in Queensland and Mona Vale and Parramatta in NSW.
“There are a further dozen in fairly advanced stages of planning expected to be operational early in the new year,” Ormond says.
“We expect to have at least 50 Refund offices in the market by the end of the current financial year.”
Ormond and his business have regularly appeared in the BRW magazine, featuring in flagship editions BRW Fast Franchise, BRW Fast Starters and the BRW Young Rich List.
He also appears regularly on both Today Tonight and A Current Affair fighting for consumer rights. Ormond also appears in advertorials on The Morning Show and Kerri-Anne.
The latest step is part of Ormond’s long-held strategy to build a suite of services alongside the Refund Home Loans business in order to provide additional benefits to homebuyers.
Ormond says he has successfully challenged the mortgage broker market when he entered the market with Refund Home Loans in 2004.
“We conducted a survey of real estate customers in capital cities and regions through the well-credentialed Marketshare Company which clearly indicated that as many as 70% of customers were not satisfied or were unhappy with their experience,” Ormond says.
“There was also a strong feeling that agents are preoccupied with their vendors and seem to have forgotten their ‘other customer’ – the buyer.
“We believe people are essentially demand driven and choose to do business with a particular company because they get a better deal,” he says.
Refund Real Estate will be run by Stan Crook as its general manager.
Refund has 350 loan franchisees across all states.
In 2005 Refund raised the wrath of rivals by offering to hand back to customers up to half the commission paid by lenders.
At the time he said none of his franchisees had shopfronts, so therefore they didn’t have the cost and were passing that saving onto the borrower.
Refund argued many brokers did not have the best loans on their books or failed to properly disclose commissions.
Refund Real Estate’s office is at 162 Boundary Street, West End and is being headed by Paula Pachernegg, who has made her reputation as a mortgage broker.
Refund Real Estate will provide customers – both buyer or sellers in equal distributions – with a negotiable share of the agent’s standard vendor commission.
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Refund opens first real estate office

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An 1886 Jersey Road, Woollahra shop has been sold for $1.55 million to homeware importers Patrick and Marion Horgan.
It had previously traded at $1.63 million in 2007 through Christies International, after which it became the Arabella boutique children's store. Its earlier restoration was undertaken by the interior designer Leslie Walford, the fellow of the Design Institute of Australia.
Built as a single-storey corner store, the building had been untouched for decades before Walford bought it for $260,000 in 1991 and restored and extended it as his showroom and offices.
The site had been the Crowther's corner grocery store. It had previously sold for £1500 in 1951. Set at the corner of Jersey Road and Holdsworth Street, the distinctive building has an elegant ground-floor showroom, two first-floor offices, a heritage bathroom, kitchenette and attic storage. The timber premises, that sit on a 70-square-metre block, were marketed by as suitable for a hair/beauty salon, medical, professional offices, or retail and showroom usage.
Arabella Boutique, Australia’s only store to stock Paris-based Bonpoint apparel, has relocated to Transvaal Avenue, Double Bay since the sale.
The recent Jersey Road sale was through Eddie Levy at Metro Commercial, whose agency has by coincidence listed the Transvaal Avenue premises in conjunction with Colliers International with a $7.5 million asking price. The boutique Double Bay retail and commercial building has 813 square metres of space on its 422-square-metre block. There is approval for increased floorspace and strata potential. It has a $557,000 plus income on fully leased basis, according to Metro listing agent Allan Levy.
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Nineteenth-century corner grocery store in Woollahra sells for $1.55 million

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First-home buyer number are likely to remain low in the short term, although initial signs of  improvement came in recent housing finance commitments after numbers fell in January 2011 to their lowest levels in six years, according to RP Data.
The important buying group accounted for 15.4% of owner-occupier finance commitments, based on housing finance data issued by the Australian Bureau of Statistics for May 2011.
There were 8,226 new home loan commitments by first-home buyers during the month, which was 17.2% higher than during the previous month.
Over the 12 months to May 2011 there was a total of 90,317 finance commitments for first-home buyers, compared with 149,469 at the same time last year, a fall of 39%.
RP Data analyst Cameron Kusher says the result highlights the slowdown in first-home buyer activity after the conclusion of the First Home Owners Grant Boost.
First-home buyer numbers fell to a low of 14.9% of the market in early 2011.
Kusher predicts it’s unlikely that first-home buyer activity will increase much in the short-term given current housing market conditions.
He believes that consumers have become extremely debt-cautious.
“The issue facing the housing market is that at a time when first-home buyer activity is low, so too is activity from investors.
“Although investors can negatively gear properties, the cashflow still needs to be found to fund day-to-day expenses and any mortgage payment gaps.
“With caution surrounding debt, the likelihood of investors taking on a negatively geared property investment which has such a high cost to purchase is unlikely.
“Rental returns have improved over the last 12 months increasing from 3.9% to 4.2% for houses and for units from 4.7% to 5% across the combined capital cities,” Kusher says.
“Although the uplift in rental returns is positive, these need to improve substantially if significant opportunities for positively geared rental properties are to be achieved.”
RP Data expects fairly robust rental growth in the coming few years as building approvals fall and sales volumes remain below average resulting in increased competition for rental stock and rental rate increases.
<img src="/images/stories/rpjuly20.gif">
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Robust rental growth forecast for coming years: RP Data

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The cottages of the popular television series The Block are almost open for inspection, with one of the four Richmond cottages now being marketed on the internet.
It has been listed for August 20 auction with $800,000 plus hopes. The house would need to fetch close to $1 million to break even, but the television series is content to make its money from big advertising revenues.
The first open for buyers is not officially until July 28, with the enthusiastic agents jump-starting the internet marketing.
The three-bedroom, two-bathroom cottage was renovated by Polly and Waz.
The double-storey house at 39 Cameron Street is on 148 square metres, the smallest land size on the show.
“It’s a collaboration of easy living, stylish comfort and lifestyle,” says Biggin Scott agents Russell Cambridge and Sam Davenport.
“This irresistible ‘green’ home oozes quality and design,” the Biggin Scott marketing says.
The other three contestants’ listings are expected to find their way onto the internet soon.
This season of Channel 9’s The Block has rated well, with up to 1.55 million nightly viewers underpinned by about a third of its audience from Melbourne. Monday room judgments are the most popular night, and last week it ranked as the seventh most watched show on television over the week in the five mainland capital cities. The weakest night was Friday, which had an audience of 1.1 million.
The next series of The Block seems set for South Melbourne, with the television show production company spending some $3,025,000 on four unrenovated terraces.
The Dorcas Street terraces have potential for a third-storey addition, which will have city views, and the installation of front balconies.</body></html>

August 20 auction set for The Block cottages

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Michael Edgley, the theatre entrepreneur who hit the big time in the 1980s with the Moscow Circus and, more recently with Cirque du Soleil, has been bankrupted owing about $7 million to his creditors.
His financial troubles stem from a $4.5 million Challenger loan in 2007 on a Gold Coast hinterland holding.
Edgley likened the hinterland Lower Beechmont district to Beverly Hills or Bel Air in Los Angeles, but repeated attempts to sell the holding failed until its recent mortgagee listing.
Edgley filed his statement of affairs with his trustees Nick Combis and  Peter Dinoris on July 13.
He now gives his address as a five-bedroom house on three hinterland hectares that was sold for $1.3 million in 2009 at Tallai to a company directed by his wife, Justine Summers.
It was 2005 when Edgley first tried to sell the 26-hectare hinterland estate with ambitious $12 million expectations. In 2008 it was relisted with $8 million hopes. Offers over $5 million were sought in 2009. It sold earlier this year for $2.35 million through Ray White Broadbeach, which marketed it as a potentially luxurious, partially renovated home in need of TLC.
The property, with views from Stradbroke Island to the Tweed Coast, was bought in 2001. Sitting 350 metres above sea level, the property has three separate dwellings plus resort-style facilities including an authentic Japanese bath house, tennis court, swimming pool and mediation area.
Challenger sued Edgley in the Queensland Supreme Court last month in an attempt to force him to repay the loan.
Edgley has not yet filed a defence to the claim but offered $500,000 to settle the debt, according to the Daily Telegraph report by Vanda Carson. The offer has not been accepted, and negotiations are continuing.
Edgley says he took up property development in retirement following his successful career in entertainment.
"I felt that I had enough of that life [in showbiz]. It was a wonderful time, and I was looking to do other things.
"This development became my passion, but property development was obviously not my area of expertise," he says. "I'm not turning my back on my creditors, I'm endeavouring to work through the situation."
In 2002 the family company sold its nearby 100-hectare Guanaba holding, which was sold for $1.7 million and had cost $20,500 in 1973.
During his heyday Edgley variously had homes on Wolseley Road, Point Piper, the Hunters Hill Riverfront, the Gold Coast's prestigious Hedges Avenue and Jutland Parade, Dalkeith in Perth.
In March he married his partner of 12 years, the former principal ballerina for the Australian ballet Justine Summers. They have two children.
Michael Edgley's involvement in his family's theatrical management business began at the age of 19. In 1967 at the age of 23 Edgley took over management of the family company.
It was in 1920 when Eric Edgley and his brother Clem Dawe, born Eric and Clem White, were invited to Australia by J. C. Williamson Ltd. in 1920 to star in the pantomime Sinbad the Sailor at the King's Theatre, Melbourne. The subsequent success of this production encouraged their families join them in Australia and the establishment of the production company Edgley and Dawe in the mid-1920s.
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Bankruptcy drama for theatre entrepreneur Michael Edgley

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House values eased 1.19% during the past year across Australia, according to Residex, with Brisbane and Perth the worst-performing capitals.
Brisbane’s 5.66% fall to a $441,000 median house price is the largest drop Residex has recorded in any 12-month period for the city. Perth fell 2.2% over the year ending June 2011 to a $475,000 median house price.
Sydney – down 0.47% to a $673,5000 median – is the brightest prospect on the property front, but veteran Residex forecaster John Edwards envisages there are the makings of a perfect storm that could undermine the national property market.
The Melbourne market is Australia’s most at-risk market at the moment, Edwards says, and poor management of the economy by the federal government could easily bring about a “1 in a 100-year” national property collapse.
“Our star is Sydney, which is the market that generally points to the future performance of other markets across Australia.
“The worst-performing capital city, Brisbane, is in trend terms indicating that the worst of its corrections are probably over,” Edwards says.
He says Melbourne is early in its correction phase, with houses dropping 1.1% in value in the last quarter, but up 1.5% for the year at $593,5000. Residex figures have Melbourne unit prices down 1.8% for the June quarter to $448,000.
“Our numbers indicate that Victoria could have a significant stock surplus of something in the order of 24,000 dwellings, mainly in the medium-density market,” Edwards says.
“The net outcome, without careful economic management, could see reductions in value in this market that are considerable higher than those recently seen in Brisbane (where there is more than likely no shortage of stock).
“Overall I view the Melbourne market as our most at-risk market at this time,” he warns.
“Our housing markets are usually a lead indicator to what is happening on the domestic economic front.
“We can often point to potential increases of unemployment in areas of a city by simply looking at how that housing market is performing.
“People stall their buying activity when they think their jobs are at risk or their wealth is falling.”
He says the Reserve Bank narrowly averted a “1 in 100-year event” leading into the global financial crisis by dramatically cutting interest rates.
“Poor management of our economy at this point in time could easily bring about that 1 in a 100-year event that was previously avoided,” Edwards says.
“I’m not against a carbon tax or how it encourages us to be ‘greener’ and work toward reducing the excessive amount of carbon dioxide we are producing.
“However, I do believe there is a sensible process and time to introduce this tax and that time does not seem to be now when we are most vulnerable.
“We don’t need issues that will reduce consumer confidence even further at this point in our economic cycle.”
RESIDEX HOUSE MEDIAN VALUES
 
ACT $540,500 3.3%
Adelaide $403,000 -1.3%
Brisbane $441,000 -5.6%
Darwin $500,000 -0.9%
Hobart $385,500 3.1%
Melbourne $593,500 1.5%
Perth $475,000 -2.2%
Sydney $673,500 0.4%
Australia $437,500 -1.1%
 
RESIDEX UNIT MEDIAN VALUES
 
ACT $421,500 1.9%
Adelaide $312,000 -0.3%
Brisbane $360,000 -3.1%
Darwin $397,000 -5.6%
Hobart $281,500 -2.1%
Melbourne $448,000 0.2%
Perth $396,000 -3.5%
Sydney $485,500 4.43%
Australia $397,500 0.4%
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Australian capital cities at increased risk of property crash: Residex

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The median house values of some flood-affected Brisbane suburbs have edged higher than they were before the floods in December, according to  RP Data, but prices in most affected suburbs have fallen.
The survey looked at the automated values of 7939 inundated and 10,334 partially inundated properties worth $12.53 billion in Fairfield, Rocklea, Graceville, South Brisbane, St Lucia, Chelmer, West End, Auchenflower, New Farm and Kangaroo Point.
Fairfield and Rocklea showed the biggest overall drop in values, down 9.4%.
Values in the inner-city suburbs New Farm and Kangaroo Point increased marginally by 0.4%.
At the same time values in non-flooded suburbs dropped overall by 1.5%, according to RP Data's head of research Tim Lawless.
Sales volumes have dropped dramatically in both flood-affected and non-flood-affected suburbs.
In the flood-affected suburbs there was a 56% decline in sales in March 2011, compared with March 2010.
Sales also slowed in non-flooded suburbs, dropping 43%.
Lawless stresses the lack of sales data means it is too soon to adequately reflect new values.
“Another factor muddying the waters is the fact that the Brisbane housing market as a whole is quite weak – and this was the case well and truly before January 2011,” Lawless told Quest Community Newspapers.
The real fallout seems to be a low volume of sales rather than a serious fall in values, although the true value change post floods is yet to be seen, Lawless says.
He says the market is still correcting from a period of spectacular growth.
“Brisbane has been such a weak performer [since about June last year] due to the fact it was such a strong performer prior to 2008,” Lawless says.
“The softness in the market for Brisbane was a relatively new phenomenon during 2008. Brisbane had been such a strong performer really since 2002.”
Brisbane house values peaked in May last year at $450,000, Lawless says, before starting to slide in June.
Ray White Queensland chief executive Peter Camphin says top-end Brisbane houses have been discounted by about 15% since the beginning of the year, with riverfront properties the hardest hit since the January floods.
In March, the Real Estate Institute of Queensland said 17 of 50 flood-affected suburbs recorded too few sales to allow a median house price to be calculated.
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Sales down 56% in flood-affected Brisbane suburbs: RP Data

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Sydney is the brightest star on the property front, but veteran Residex forecaster John Edwards envisages there are the makings of a perfect storm that could decimate the national property market.
The Melbourne market is Australia’s most at-risk market at the moment, Edwards says, and poor management of the economy by the federal government could easily bring about a “one in a 100-year” national property collapse.
Edwards believes that a similar catastrophe was only avoided during the global financial crisis due to quick initiatives on the economic front.
He suggests any further reduced consumer confidence – combined with a carbon tax after debilitating debate  – will put more downward pressure on the Australian housing market at the same point in time as it is naturally in decline and is most at risk.
“Significant reductions in these markets could quickly change our economic fortunes,” he says.
“The impact of significant reductions in housing values on an economy has been well and truly demonstrated in the world events of the last five years,” he says.
“The June quarter numbers in some states are the worst recorded for more than 30 years. In the whole time I have been studying the market I have not seen the makings of such a perfect storm.”
At the moment he sees the market as patchy.
“There are bright stars on the horizon, but they could be dimmed very easily, as their glow is weak and flickering, like any new flame is in its infancy.
“Our star is Sydney, which is the market that generally points to the future performance of other markets across Australia.
“The worst-performing capital city, Brisbane, is in trend terms indicating that the worst of its corrections are probably over,” Edwards says.
Brisbane’s 5.66% fall is the highest Residex has recorded in any 12-month period for the city.
“Moving down the eastern coast to Melbourne, the picture is better than Queensland, but the market is early in its correction phase, with houses dropping 1.1% in value in the last month and down $6,800 over the last 12 months.
“The unit market is correcting more strongly, however when we look at the supply of stock of properties in Victoria it is clear that this market could have a considerable amount of adjustment in it,” Edwards says.
“Our numbers indicate that Victoria could have a significant stock surplus of something in the order of 24,000 dwellings, mainly in the medium-density market.
“The net outcome, without careful economic management, could see reductions in value in this market that are considerable higher than those recently seen in Brisbane (where there is more than likely no shortage of stock).
“Overall I view the Melbourne market as our most at-risk market at this time,” he warns. “Our housing markets are usually a lead indicator to what is happening on the domestic economic front.
“We can often point to potential increases of unemployment in areas of a city by simply looking at how that housing market is performing.
“People stall their buying activity when they think their jobs are at risk or their wealth is falling.”
He says the Reserve Bank narrowly averted a “one in 100-year event” leading into the global financial crisis by dramatically cutting interest rates.
“Poor management of our economy at this point in time could easily bring about that 1 in a 100-year event that was previously avoided,” Edwards says.
“I’m not against a carbon tax or how it encourages us to be ‘greener’ and work toward reducing the excessive amount of carbon dioxide we are producing.
“However, I do believe there is a sensible process and time to introduce this tax and that time does not seem to be now when we are most vulnerable.
“We know consumer sentiment is low; if there is any doubt then we simply need to look at the retail sales numbers and the public downgrading of David Jones’ profit forecast.
“We don’t need issues that will reduce consumer confidence even further at this point in our economic cycle.”
“Frankly, I would have thought that the RBA has a tough enough task in managing a two-speed economy as Australia goes through a period of structural change, moving to be more of a resource-based economy with a portion of our population relocating and finding employment within that industry,” he says.
Late last year Edwards suggested the next interest rate movement would be downwards.
“I remain of this view,” he says, “and think that a rate cut will be sooner rather than later – I expect this to take place in September, however if the carbon dioxide tax does not come to pass then I predict the rate cut will be later. “I acknowledge that one should never criticise an approach or policy as that is easy to do unless you can suggest an alternative. In the Residex Report for this quarter, I set out an approach that I believe would work more effectively. It would allow the management of our currency by using interest rates and at the same time encourage a change in the way we as a population use energy,” Edwards says. “The months ahead are going to be very interesting. The markets for opportunity are in New South Wales (lowest risk), Queensland and Perth. The latter two should be used to find bargains as these markets do have a little more correction in them.”
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Warning of property catastrophe if carbon debate emasculates consumerism: Residex

For more than three decades, Hyecorp has been delivering residential projects across Sydney's Lower North Shore, building a portfolio centred on design-led apartment living in some of the city's most established neighbourhoods.

Hyecorp recently launched the latest in its long line of apartment developments, Celine, a 29-storey tower on Archer Street in Chatswood. Like the majority of the developer's projects, Celine caters to a broad buyer demographic, offering a mix of one, two, three and four-bedroom apartments, all designed with owner-occupiers in mind.

Functionality and flexibility are often buzzwords in the new apartment market, but they sit at the core of Hyecorp's design philosophy.

Hyecorp Joint Managing Director Stephen Abolakian says the developer understands it isn't designing apartments for today's needs alone, but for how buyers will live several years into the future.

"When we launch our projects we need to be aware that these developments aren't finished for several years," Abolakian says.

"That home office in the here and now might be a nursery by the time the project completes for a prospective buyer, so we need to think about how the apartment spaces function for future uses so there's longevity in the ownership."

Celine's architects, Fuse, followed the same philosophy, saying the design extends well beyond aesthetics.

"Celine focuses on timeless architectural form and functionality, with a strong emphasis on light, proportion and materiality. The design responds to the urban context of Chatswood while delivering calm, highly liveable interiors that feel both contemporary and enduring. The floorplans have been carefully resolved to maximise usability and outperform typical market offerings in terms of efficiency and liveability."

Most apartments incorporate multipurpose rooms designed for flexibility. Each includes an integrated desk and a standard Murphy pull-down single bed, allowing the space to transition from a home office or study to guest accommodation as needs change. The layouts have also been designed to maximise natural light, storage and overall functionality.

One and two-bedroom apartments feature Miele appliances, while three and four-bedroom residences are appointed with integrated Gaggenau appliances and Taj Mahal stone benchtops.

Buyers who purchase early in the construction process can also take advantage of Hyecorp's "Live Your Way" interior design service, allowing them to personalise finishes and tailor elements of their home to suit their own lifestyle. It's a feature designed to appeal to owner-occupiers who want their apartment to feel uniquely theirs from the day they move in.

[smartcode_project:default project_id=149594 project_image_fid=362614]

While flexible floorplans have become a hallmark of Hyecorp's apartment design, the developer has also continued to place significant emphasis on resident amenity.

As buyers increasingly expect more from apartment living, shared spaces have evolved beyond a gym and barbecue area. They are now an extension of the home, providing spaces to relax, exercise, entertain and connect with neighbours.

At Celine, the resident amenity has been designed with a focus on wellness, centred on the level six podium. An infinity-edge swimming pool, spa, sauna and fully equipped gym are complemented by barbecue facilities and a residents' lounge, creating a range of spaces for relaxation, recreation and social connection above the streets of Chatswood.

Practical conveniences have also been integrated throughout the building, including EV charging provisions, smart parcel lockers, bicycle storage, a pet wash station and dedicated car wash bays, reflecting the project's focus on making everyday living as seamless as possible.

[smartcode_project:default project_id=149594 project_image_fid=362633]

"Celine has been designed to deliver a refined residential experience that reflects the evolution of Chatswood into a premium urban centre,"&nbsp;Abolakian says.

"With over 30 years of experience delivering projects across Sydney's Lower North Shore, Hyecorp brings a deep understanding of what local buyers value. Every detail has been considered to balance luxury, functionality and long-term liveability. This is not just about apartments, but about creating a lasting residential address for discerning buyers."

Hyecorp, vertically-integrated builder-developer, is anticipating construction commencement later this year.

[smartcode_project_cta:default project_id=149594]

Joel Robinson

Hyecorp brings 30 years of Lower North Shore experience to Celine in Chatswood

Burgeoning South East Queensland developer <a href="https://www.apartments.com.au/developers/frank-developments">Frank Developments</a> is continuing to pad out its capital city development pipeline.

The developer, led by Frank Licastro, has its sights set on Kingsford Smith Drive in Hamilton, where it is planning <a href="https://www.apartments.com.au/new-apartments/avela-60-kingsford-smith-drive-albion-qld-4010">AVELA</a>, a 166-apartment development across three towers that tier down from 28 storeys to 19 and 17.

The towers will rise above the iconic Breakfast Creek Hotel.

Frank has brought on Melbourne architecture practice <a href="https://www.apartments.com.au/architects/rob-kennon-architects">Kennon</a> to design the building, conceived as a “defining architectural marker where the airport corridor meets the inner city.”

<img alt="First look: Frank Developments plans sculptural AVELA for Brisbane's Breakfast Creek gateway" data-entity-type="file" data-entity-uuid="e787c64e-f0a4-4725-891e-e86b40ee5c5c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/AVELA.png?VersionId=1ulwuZ9w2vQ2td7v.J2zUI7Ih_DT4Kwz" />

Kennon describes the project as a once-in-a-generation opportunity.

"Positioned at the northern gateway of Brisbane's primary CBD corridor, this project represents a singular moment in the city's urban evolution, one that will not come again," the architecture practice said in the documents submitted to the Brisbane City Council.

"Where the airport and world beyond meets the city, the building will rise as a sculptural landmark, a defining piece of architecture that signals arrival into Brisbane and anchors the connection between the city and the communities to its north."

<img alt="First look: Frank Developments plans sculptural AVELA for Brisbane's Breakfast Creek gateway" data-entity-type="file" data-entity-uuid="d572bf62-a98d-4847-95d0-889e3d3283e1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/AVELA%20podium.png?VersionId=6.Ax4jBzTbY5ahm55iaMWNR03ODhDQSm" />

The development is centred around owner-occupier apartments, with a mix of two, three and four-bedroom residences designed to capitalise on city and river views.

Four basement levels accommodate resident parking, allowing the podium to prioritise pedestrian activity and public-facing uses like ground-floor retail, a cafe, a&nbsp;neighbourhood grocer, and a public accessible indoor pickleball court and event space.&nbsp;

There will be nearly 2,000 sqm of communal wellness and recreation facilities across three levels.

<img alt="First look: Frank Developments plans sculptural AVELA for Brisbane's Breakfast Creek gateway" data-entity-type="file" data-entity-uuid="c5ac3cbf-3c11-4219-89f3-e12d9e0f9ffd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/AVELA%20podium%20A.png?VersionId=_.4zd1HLCKa1s6I_oxkY4NNqX6o3Yevn" />

&nbsp;

Frank Developments has increasingly focused on design-led residential projects across South East Queensland.

AVELA is Licastro's second on Kingsford Smith Drive following <a href="https://www.apartments.com.au/new-apartments/alba-92-kingsford-smith-drive-hamilton-qld-4007">Alba</a>, 85 apartments just down the road. The developer has <a href="https://www.apartments.com.au/new-apartments/mira-61-garfield-terrace-surfers-paradise-qld-4217">MIRA</a> and <a href="https://www.apartments.com.au/new-apartments/myst-burleigh-heads-270-the-esplanade-miami-qld-4220">MYST</a> on the Gold Coast, as well as <a href="https://www.apartments.com.au/new-apartments/murano-teneriffe-37-wyandra-street-new-farm-qld-4005">Murano</a> coming up in Teneriffe and <a href="https://www.apartments.com.au/new-apartments/bel-air-33-oxlade-drive-new-farm-qld-4005">Bel Air in New Farm</a>.

Frank Developments plans sculptural AVELA for Brisbane's Breakfast Creek gateway

ASX-listed developer <a href="https://www.apartments.com.au/developers/stockland">Stockland</a>&nbsp;is continuing its push back into the new apartment market, filing plans for a prominent gateway site between Collingwood and East Melbourne.

The development giant, which moved back into the new apartment space when it announced Stanton Place in Sydney's Rosebery and have since filed plans for a 50-storey tower, are jumping into the off the plan Melbourne market.

They are hoping to create a mixed-use neighbourhood precinct for <a href="https://www.apartments.com.au/new-apartments/79-81-victoria-parade-collingwood-vic-3066">79-81 Victoria Parade</a>, replacing an existing commercial building with a scheme by <a href="https://www.apartments.com.au/architects/john-wardle-architects">Wardle</a>&nbsp;for 478 apartments,&nbsp;ground-floor retail, new public open spaces and a publicly accessible pedestrian laneway.

<img alt="First look: Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site" data-entity-type="file" data-entity-uuid="72dbbca9-3918-4073-afad-a0c0c35be8e7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/stockland%20pers.png?VersionId=bzMVUKKxvwuNK1m0v_td126Rgct32uk_" />

The design report identifies the public realm as a central driver of the proposal.

"Collingwood has limited access to high-quality parks and public open space, and the proposal delivers valuable new areas for respite, social interaction and fine-grain retail activity."

The development would deliver a diverse mix of housing, including studio, one, two and three-bedroom apartments alongside townhouse-style residences. Two basement levels are proposed beneath the development, providing resident and retail parking as well as extensive bicycle facilities.

Wardle's design draws heavily on Collingwood's industrial character, using articulated building forms, brickwork and robust materials inspired by the suburb's warehouse and manufacturing heritage. The built form has been broken into a series of smaller volumes to better respond to the surrounding streetscape while extensive communal gardens, rooftop amenities and shared resident spaces are integrated throughout the project.

<img alt="First look: Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site" data-entity-type="file" data-entity-uuid="7b2135ed-65df-4253-ad53-f216f06bd467" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/stockland%20podium.png?VersionId=l1B6Hqn8zs772VxH6L1fDPg0KHshan9v" />

The planning documents describe the existing office building as offering little engagement with the public realm, with the redevelopment intended to create a more permeable and active neighbourhood destination.

"The proposed scheme presents a significant opportunity to deliver a vibrant retail plaza and a local neighbourhood hub serving both existing and future Collingwood residents."

The 79–81 Victoria Parade site occupies a strategic location about 1.5 kilometres east of Melbourne's CBD, at the threshold between Collingwood and East Melbourne. It is well served by tram services along Victoria Parade and sits within walking distance of St Vincent's Hospital, Fitzroy Gardens, the Fitzroy activity centre and a broad range of employment, retail and hospitality destinations.

Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site

An 1880s timber cottage that has survived Kangaroo Point's transformation from riverside suburb to high-density apartment precinct is set to become the centrepiece of <a href="https://www.apartments.com.au/developers/zephyr">Zephyr Group</a>'s proposed Banksia development.

Rather than see the locally heritage-listed Alpha Cottage as an obstacle to navigate, plans integrate the landmark home into a new 18-storey residential tower, giving one of the suburb's oldest surviving residences a new role as the project's communal hub.

The development application covers a 1,177 sqm amalgamated site at 127-133 Lambert Street and 30 Shafston Avenue, where Zephyr Group plans to deliver 64 apartments above three basement levels. Designed by <a href="https://www.apartments.com.au/architects/joe-adsett-architects">Joe Adsett Architects</a>, the proposal carefully weaves the retained heritage cottage into a contemporary residential scheme, with the tower elevated above the historic building to preserve its presence within the Lambert Street streetscape.

<img alt="First look: Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage" data-entity-type="file" data-entity-uuid="f9dc5bdb-d691-4c60-bf2b-c3ed405a3e75" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Banksia.png?VersionId=Jh4bjlewU.o8HXWt0V4KaFA_lPcF7KWM" />

Named after the native Australian Banksia flower, the project draws inspiration from its distinctive form through curved balconies, sculpted planter boxes and cascading subtropical landscaping that soften the building's profile.

As the design report explains: "The tower's identity is defined by its feature facade, drawing direct inspiration from the Banksia wildflower. The building departs from traditional rigidity through the use of elegant, GRC-moulded planter boxes that appear as if shaped by the breeze."

Plans propose 64 apartments, comprising 32 two-bedroom and 32 three-bedroom residences, across an 18-storey tower. Residents would have access to rooftop amenities including a swimming pool, spa, gym, sauna, private cinema, dining spaces and landscaped recreation areas, while more than half the site is dedicated to planting and open space.

<img alt="First look: Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage" data-entity-type="file" data-entity-uuid="16041b5f-033e-47fa-8fbe-9886e072c1f2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pool.png?VersionId=kpx5w4EbLx0_TdWfDoD1vrSs0_cZ5Ao1" />

The heritage component is the defining feature of the proposal. Constructed in the early 1880s and occupied from at least 1883, Alpha Cottage is recognised by Brisbane City Council as an important surviving example of Kangaroo Point's nineteenth-century residential development and as a representative transverse-gable timber cottage. Despite extensive redevelopment across the peninsula, the building has retained a high degree of its original form and internal fabric.

As part of the redevelopment, the cottage will be carefully relocated a short distance within its original allotment to facilitate construction before being returned to a prominent position along Lambert Street. Original verandah elements will be dismantled, catalogued and reinstated, while significant internal features, including timber flooring, wall linings, joinery, doors, windows and hardware, will be retained. Later additions, including the enclosed rear verandah, will be removed to better reveal the building's original form.

Once restored, Alpha Cottage will accommodate the building manager's office, mail room and parcel facilities, providing an active everyday use that supports its long-term conservation rather than preserving it as a static display. The heritage strategy also maintains landscaped space around the building, allowing it to remain visually distinct beneath the new tower.

<img alt="First look: Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage" data-entity-type="file" data-entity-uuid="43b027e1-576e-4624-a66c-7cc54ea8b7be" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/banksia%20tower.png?VersionId=2W6E2yfkj2AQlWlLeV986grA5zB9f817" />

The Heritage Impact Assessment concludes that "the proposal secures the ongoing occupation, maintenance and conservation of Alpha Cottage," finding the development would result in "no more than a minor impact on the cultural heritage significance" of the building while ensuring its long-term future.

Joe Adsett Architects have designed the tower to sit above the heritage building rather than overwhelm it, creating a clear visual separation between old and new. The development's flowing balconies, integrated planting and organic façade respond to Brisbane's subtropical climate while complementing the restored cottage below.

Banksia occupies a prominent corner in Kangaroo Point within walking distance of the Kangaroo Point Bridge, Brisbane River, ferry services, QUT, the CBD and the Woolloongabba precinct. The site also benefits from direct access to active transport infrastructure and sits within an area earmarked for continued higher-density residential growth.

Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage

Buying into a masterplanned community often means committing to a vision still years from taking shape. At <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a>, that vision is already visible.

Residents have moved into the completed first stage, landscaped spaces are established, and the next chapter is now underway. Stage 1 has been completed and settled, with Stage 2 now selling off-the-plan.

Designed by <a href="https://www.apartments.com.au/architects/pbd-architects">PBD Architects</a>, <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> combines attainable apartment living with sustainability initiatives rarely seen at this price point, including rooftop solar, battery storage and a resident EV-sharing program.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/6RNt3AvtBpI?si=JUhuCV2ZRXsYaoJZ" title="YouTube video player" width="560"></iframe>

Located on Schofi​elds Road, just moments from Tal​lawong Metro Station and Schof​ields Train Station, <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> has been designed to appeal to a broad mix of buyers, from first-home purchasers looking for a foothold in Sy​dney's property market to downsizers seeking a connected, low-maintenance lifestyle.

<a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> has been conceived as a thoughtfully planned masterplanned community that will evolve over multiple stages, with buyers now able to secure one, two and three-bedroom apartments within a neighbourhood that is already beginning to establish its identity.

One of the project's defining features is its focus on sustainability. Solar energy systems, battery storage and future EV charging infrastructure have been incorporated throughout the development, reflecting a long-term approach to both environmental performance and everyday convenience.

Sustainability sits at the centre of the development's vision, with solar energy systems, battery storage and future EV charging infrastructure integrated throughout the community.

That emphasis on future-ready living extends beyond the technology. Landscaped communal gardens, outdoor gathering spaces and plans for a future retail precinct aim to create a neighbourhood where residents can access daily conveniences without travelling far from home.

[smartcode_project:default project_id=149637 project_image_fid=351027]

The apartments themselves have been designed with liveability front of mind. Rather than chasing maximum density, the focus has been placed on creating practical homes with generous natural light, usable layouts and strong connections to outdoor space.

Importantly, these design principles have been applied consistently across the one, two and three-bedroom apartment offerings.

The appeal of <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> is also closely linked to its location within Syd​ney's rapidly evolving north-west growth corridor. Over the past decade, major infrastructure investment has transformed the area, with new transport links, business precincts and community facilities reshaping suburbs like Talla​wong and Schofiel​ds.

The agent says buyers are increasingly recognising the area's long-term potential.

"Typical buyers that we're finding across <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> especially are your first-home buyers, your investors, your upsizers as well as your downsizers," Hawes says.

Connectivity remains one of the project's strongest drawcards. Residents have access to both Tallaw​ong Metro Station and Schofi​elds Train Station, providing links to the Sydn​ey CBD, Norw​est Business Park, Macquari​e Park and other major employment hubs. Retail centres including Rous​e Hill Town Centre and Sch​ofields Village are also nearby, alongside schools, parks and future healthcare infrastructure.

[smartcode_project:default project_id=149637 project_image_fid=351031]

For Stage 1 resident Roji, it is the balance between convenience and comfort that has defined the experience of living at Kew.

"For me, it's a balance of quality and convenience," she says. "Everything I need is right here."

"If I wanted to catch the train, Scho​fields Station is just around the corner. Tallaw​ong Metro connects me to the city."

More importantly, she says, the development has delivered something that cannot be measured in floorplans or specifications.

"<a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> feels like home."

[smartcode_project:default project_id=149637 project_image_fid=351024]

As Stage 2 enters the market, that lived experience may be one of the project's strongest selling points. Buyers are not purchasing into an untested concept or a future promise. They are joining a community that is already taking shape.

Ongoing investment in transport, retail, healthcare and public open space continues to strengthen the appeal of Syd​ney's north-west growth corridor, while <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a>'s established first stage provides buyers with a tangible sense of the community's future direction.

For a limited time, buyer can secure a new home at <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> with just a $10,000.

[smartcode_project_cta:default project_id=149637]

Jonathan Chancellor

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