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GUEST OBSERVER
Office occupiers and their employees have a wide variety of locations to choose from.
We examine 12 of the most important real estate markets in the region. Discover the performance and prospects for the big ‘Global Powerhouses’ like London and Paris, fast-growing ‘Urban Accelerators’ like Stockholm, Berlin and Dublin, through to small but high profile ‘Contenders’ like Amsterdam, Frankfurt and Warsaw.
KEY FINDINGS
European cities have many of the characteristics of highly successful world cities that make them very attractive to workers looking for ‘urban buzz’ and a high quality city lifestyle. Their authentic environments, varied cultural experience and high quality of living makes the European cities in this study attractive not only to employees but also to employers.
New digital industries disrupt working practices and are growing at a faster rate than conventional finance and business services. Companies are searching globally for the Human Resources they need to win in this environment. This means that companies’ location choices will increasingly be made by the HR rather than premises departments. The questions they will ask are “which cities will help attract human capital?” rather than “where will property costs help save financial capital?”
Europe does contain some of the world’s global powerhouses: the top ranking cities which continue to attract people as well as global investment. Often, they act as hubs to wider, dispersed city networks. They are unlikely to lose this status in the foreseeable future and are adapting well to the digital age. London, Paris and Madrid now employ more people in their information and communication sectors than in their financial and insurance sectors.
London and Paris are the two most global cities in Europe and accommodation costs in these cities reflect that success. Large workforces result in high demand for space in the city which pushes up rents and land values in old cities where space is limited.
There is a big fall-off in annual accommodation costs per worker to the next tier of European cities. Milan, Dublin, Amsterdam, Moscow and Brussels are around half the cost of London at present.
The cheapest cities in Europe in which to accommodate staff are Warsaw, Berlin. Frankfurt, Madrid and Stockholm. Warsaw is just over a quarter of the cost of London.
In some cities, this expense ranking is likely to change. Workspace rents are forecast to rise over the next year in Amsterdam, Dublin, Paris, Madrid, Milan and Stockholm. They are broadly stable in Brussels, Frankfurt, London and Warsaw, giving occupiers more certainty on real estate costs.
Where real estate costs are scrutinised, it is becoming as important to look at residential affordability as well as commercial property costs. Young creative workers are increasingly attracted to good, small cities offering cheaper accommodation as they are priced out of the big global financial centres. This is part of the reason why some very small European cities like Berlin, Dublin and Amsterdam are hugely successful and punching above their weight economically. Their worldwide fame belies their size.
Brexit has raised questions on London’s future as a financial centre and speculation is rife as to which European city might win London’s business. The evidence of this report suggests that no single city will take London’s crown but rather the EU passporting functions of many institutions will be dispersed throughout Europe to a variety of cities for different reasons.
Some small cities, especially those in which it is easy for multinationals to do business, those with favourable tax regimes and strong English language capabilities could do well in attracting global companies but few of these cities have the stock capacity to accommodate many large relocations from London – or elsewhere, especially in the short term. Some cities which larger levels of office supply may find their corporate and personal tax regimes discourage some companies.
Taking a combination of measures into account, London still stands out as the most attractive European city for the finance sector. We think it will continue to serve as a global finance centre but in partnership with some smaller European cities for passporting functions.
Overall, there are good reasons to expect further growth in both the economies and real estate markets of many European cities. Often the strength of the city will buck the trend of the country in which it sits so national comparisons are less useful than city comparisons.
The strength of occupier markets should continue to attract global investment in many European cities and to start attracting it in others. The attractiveness of these cities to investors is important for occupiers in the long run as it will determine whether they can find sufficient workspace of the right type in the right place and whether housing is affordable for their key workers.
The economic and demographic strength of most of the European cities in this report is such that both occupier and investor demand should be assured.
<a href="https://www.propertyobserver.com.au/images/2017/03/16/pages-4-5-figure11.png" target="_blank">Click to enlarge</a>
<a href="https://www.propertyobserver.com.au/images/2017/03/16/pages-4-5-figure11.png" target="_blank"><img src="https://www.urban.com.au/images/2017/03/16/pages-4-5-figure11.png" width="600" height="315"></a>
Source: Savills World Research
 
Yolande Barnes is director, World Research at Savills and can be contacted <a href="https://www.savills.com/" target="_blank">here</a>.
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Euro cities punching above their weight economically: Yolande Barnes

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GUEST OBSERVER
A key question amid the consternation over the current state of Australia’s east coast energy market has been how much renewable energy capacity to build, and how fast.
But help could be at hand from a surprising source: electric vehicles. By electrifying our motoring, we would boost demand for renewable energy from the grid, while smoothing out some of the destabilising effects that the recent boom in household solar has had on our energy networks. 
Australia’s electricity infrastructure was built largely without renewable energy in mind, and primarily to maintain reliability for when demand peaks. The high uptake of solar panels, while good for reducing carbon emissions, has reduced grid demand by 5-10% in Australia, and as a side-effect has lowered the value of network assets, raised power prices, and made the grid trickier to manage. 
Electric vehicles can ease the pressure on spikes in electricity prices by adding storage capacity. They are effectively a distributed storage system - with smart meters they can feed electricity back into the grid when prices are high. These vehicles’ battery reserves can thus help with the balancing of the grid and provide energy in the peak period. Electric vehicles would also add battery storage to the grid at the same time, which can reduce the need to size the grid for demand peaks. 
One way to think of electric vehicles is essentially as batteries you can drive. So before the government pursues plans such as spending A$2 billion on expanding the Snowy Hydro scheme, it should do a cost-benefit analysis comparing the returns from similar infrastructure investment in electric vehicles. 
According to the Office of the Chief Economist, Australia produced 6 billion kilowatt hours of solar PV in 2015 – enough to run almost 2 million cars, equivalent to 10% of Australia’s total current passenger vehicle fleet. Increasing demand for grid-sourced electricity will put downward pressure on network prices, which typically are roughly half of the cost of a household energy tariff. At a time when demand has declined and policy settings have created lots of investor uncertainty, the increased demand will also encourage investment in new generation capacity.
Electric vehicles can also increase economic activity in Australia and improve air quality and health. Australia has nearly 20 million cars that together drive 280 billion km each year. Passenger vehicles alone consume 20 billion litres of fuel each year in Australia. At A$1.50 per litre, that is A$30 billion per year that is burned, with roughly half the revenues going to multinational oil companies and the other half going into federal coffers as fuel tax.
The health costs of pollution from vehicle emissions adds a further A$1,450 per household per year in major cities, an annual impost of some A$14.5 billion on household and government budgets – roughly the same as what the government earns in fuel tax.
If all vehicles were electric, the same distance could be driven with electricity costing less than A$15 billion, because electric motors are more efficient than internal combustion engines (although this is slightly offset by minor grid losses). This would thus deliver a double saving, in terms of both household fuel bills and reduced health costs. 
Changing gear
Of course this won’t happen overnight, but that’s not necessarily a bad thing. The electricity grid will need time to adjust and add extra renewable capacity, as the cost of electric cars comes down and coal power stations get old. 
Both economic analysis and recent political experience suggest that encouraging investment in renewable energy is expensive, especially if the only driving factor is the need to cut greenhouse emissions (important though that is).
Here is where electric vehicles can really help the grid. Swapping petrol or diesel cars for electric ones on a large enough scale will increase Australia’s flatlining electricity demand, making it more lucrative for energy suppliers to invest in new generation capacity. Given the increasing cost of gas, and the declining support for coal, on balance most of this demand will be met with new renewable capacity, facilitated by the addition of all these new “batteries you can drive”. 
Click to enlarge
A suggested pathway to energy sustainability via electric cars. Adapted from Andrich et al. Inequality as an obstacle to sustainable energy use, Energy for Sustainable Development
Government policy should be to set some high-level national interest objectives, such as maintaining gas for domestic use, and then simply not interfere with the market as much as possible. But political leaders are struggling to keep up with the rapid changes in technology and the market. The pathway to sustainability would have been smoother and faster if governments had looked to WA for a gas reservation policy, not intervened by closing coal, and reduced the subsidies that allowed solar power to grow so disruptively fast (particularly in wealthier households). 
Making more effort to promote electric cars would also have allowed a more successful transition to renewable energy and reduced the price shocks being suffered by eastern Australia in areas such as the gas market. Fortunately, it is not too late.
Hitting the road
Investing in a new car is not a decision most households take lightly. This is especially true of electric cars, which are expensive, are not marketed widely, are available in only a limited range of models, and are subject to concerns about charging and range.
Presently, electric vehicles are only affordable for higher-income households, which is ironic given the benefits they would offer lower-income households in terms of fuel budgeting and reduced exposure to urban pollution and health costs. 
One-third of an electric vehicle’s cost is batteries, which are rapidly coming down in price. Bloomberg New Energy Finance predicts that by 2022, electric models will cost the same as their petrol counterparts. That will be the point of liftoff for sales. 
Meanwhile, electric cars have an undoubted cool factor. Buying one is a powerful way to show you care about your community’s future. Pardon the pun, but just look at the way Tesla founder Elon Musk electrified the debate over South Australia’s electricity problems.
For governments, electric vehicles offer an opportunity to make significant inroads on environmental and health problems, not to mention urban planning and infrastructure. The demand for car batteries could also boost related industries, such as lithium mining, in which Australia is a world leader.
Feeling electric
Simple, inexpensive policies could encourage electric vehicle uptake, such as reducing registration fees and stamp duty on electric cars and allowing them to drive in bus or other priority lanes, while also hiking the tax on diesel cars that cause cancer.
Other emerging transport trends, such as car-sharing clubs and ride-sharing apps, could also hasten the uptake of electric vehicles. Sharing increases the number of kilometres driven by each individual vehicle, meaning that the upfront costs are paid back more rapidly, leaving the owner with a car that is paid off and cheaper to run than a petrol or diesel model.
These facts are not lost on the car manufacturers themselves. But given the potential co-benefits to the electricity grid and community health, we might expect power utilities and health agencies to join the push to actively promote electric vehicles – not to mention politicians who are looking to deal with our energy issues and win a few votes along they way.
Mark Andrich is director, Sustainability and Finance Specialist, University of Western Australia and can be contacted <a href="https://theconversation.com/profiles/mark-andrich-146801" target="_blank">here</a>. Jemma Green is research fellow, Curtin University and can be contacted <a href="https://theconversation.com/profiles/jemma-green-105891" target="_blank">here</a>.
Both are authors for The Conversation.
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How electric cars can help save the grid

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Legendary rock publicist Patti Mostyn has listed her Port Douglas trophy home, The Glasshouse.
The longtime Sydney based publicist, who is famous for working with the likes of Frank Sinatra, George Michael, Sting and Elton John, secured the hilltop location in 2013 with her late husband, Eric Robinson.
<img src="https://www.urban.com.au/images/2017/03/23/Screen%20Shot%202017-03-23%20at%2011.27.42%20AM.png" alt="">
Robinson, the CEO of JPJ Audio and Jands Production Services, was honoured on Australia Day for his service to business in the area of professional audio and lighting equipment.
Their striking three level home, with swathes of glass, offers 200 degree sweeping views to the Coral Sea and beyond over Four Mile Beach and the Port Douglas Marina.
It was designed after the couple suggested a functional brief to the acclaimed architect Charles Wright. 
The master suite and third bedroom have their own private balcony overlooking the tropical landscape.
The second guest bedroom opens onto the extensive swimming pool decking.
Barbara Wolveridge has the listing at $6.75 million in the FNQ town attracting keen buying interest. Callum Jones of Tony McGrath Real Estate Port Douglas shares the listing.
The buyer of The Edge, another Port Douglas trophy home designed by Charles Wright, has emerged as Vaucluse professor Charles Mackay.
The chief scientific officer at Pfizer paid $4.85 million.
Floating off the side of Flagstaff Hill, the 555 square metre home designed like an outdoor shell, was built for the late Sydney industrialist Peter Graham and wife Claire.
Mostyn and Robinson sold their striking Graham Jahn-designed Watsons Bay home for $4,025,000 in 2014, with Mostyn looking to buy for a rather large eastern suburbs apartment which will become her Sydney base.
The four level, three bedroom Watsons Bay home was built in 1989 for Charles Lloyd Jones of the David Jones retail family.
This article first appeared in the Daily Telegraph. 
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Patti Mostyn's Port Douglas home, The Glasshouse, listed for sale

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GUEST OBSERVER
When we think of coasts, we are likely to think about the great sandy beaches that have been the destination for many day trips and long weekends.
At times these spaces have been sources of contestation, especially in areas of public access and codes of conduct. However, behind the sand dunes are other landscapes with deep histories of social conflict.
Moments from coastal pasts have had a major impact on how we see different coasts today. They feed into distinct ideals and ethics on place, especially in terms of how it is developed.
Noosa Heads versus Surfers Paradise
Noosa Heads is a prime example of this. Noosa’s history during colonisation includes a number of difficult stories to tell. Examples include the contentious tale of the rescue of Eliza Fraser, or the fate of the traditional owners, the Gubbi Gubbi people, at the hands of the colonial settlers and the native police.
Yet it was in the 1960s when modern conflict over land use really took shape in Noosa. A proposal by the developer T.M. Burke to build a resort at Alexandria Bay created a stir among locals. The local shire was set to build an access road around the headland, destroying well-trodden walking tracks.
A group led by local Arthur Harrold fought this proposal and formed the still-operating Noosa Parks Association. Thus began a long-standing fight against over-development, mining and other impediments to what residents saw as the natural beauty of the coast. This included the Cooloola Conflict and the now-famed resistance to high-rise development.
While there are elements of conservationism here to consider, these conflicts arose in a bid to keep Noosa low-key, with a slower mentality and authentic natural surrounds. Today, these ethics of authenticity are firmly embedded in planning regulation, illustrating the strength of local resistance past.
Noosa residents’ key fear in the 1960s and ’70s was losing their sense of place to the different ideals embodied in another coastal mecca, Surfers Paradise. Like Noosa, Surfers has a long history of conflict. Yet this place developed much differently due to several key factors.
Arguably, the significant turning point was in 1925 when Jim Cavill bought the then Elston Hotel and renamed it the “Surfers Paradise” hotel. Cavill and his wife proceeded to turn the coastal setting into something more than a place to bathe or surf.
Alongside the hotel, they built a zoo full of exotic animals that gave the place a peculiar flavor. Having been influenced by the American example of how to develop coasts, Cavill exhibited a desire to construct Surfers Paradise as an exotic international resort. However, due to the war in the Pacific, Surfers Paradise was restricted by building codes, frustrating locals who were eager to begin making the space bigger.
Shortly after the war, the codes eased and developers flocked to the “Golden Coast”. In the course of development, local leaders such as the progress association often came into conflict with governance.
In the example of parking meters, this led to the controversial meter maid scheme, which further established Surfers Paradise’s theme as an overtly transgressive and sexualised place.
Conflicts of a climate-changed future
In both spaces, conflicts have continued into contemporary times.
Recently, for instance, the fight against the proposed Southport Spit development has again drawn locals into conflict with authorities. Such fights against development continue up and down our coastlines. These are mostly driven by the desire to maintain a specific lifestyle and aesthetic appeal.
However, early critics of coastal development saw other concerns about coastal development. For instance, in 1879 a journalist for The Gympie Times, while contemplating the construction of Noosa and Tewantin, wondered about the location of the village and whether one day seawater might be running between you and your neighbour.
While we have different motivations for maintaining or developing our coastal places, we seem to neglect discussions about the risks of living so close to the ocean.
As we approach a climate-changed future, issues of sea-level rise and coastal flooding are going to challenge our thinking about coasts.
History has shown that several of our coastal meccas are already susceptible to significant damage from storms and cyclones. We scramble to rebuild following these events, but few debates are had about retreating away from the sea.
As we continue into that risky climate-changed landscape, however, we might see new players like insurance companies become increasingly important.
Already in the tropics, insurance premiums have caused a stir politically and in the media. In the future, though, we may need to consider to whether we have to redefine our relationship with coasts as they become more risky places to live.
Nick Osbaldiston is senior lecturer in Sociology, James Cook University and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/nick-osbaldiston-9802" target="_blank">here</a>.
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Contested spaces: conflict behind the sand dunes takes a new turn

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GUEST OBSERVER
Dear Young People, Malcolm Turnbull and Bill Shorten, Daniel Andrews and Matthew Guy.
Please consider younger homebuyers getting access to their super funds, to help them buy a home – please help young homebuyers level up the playing field.
Please don’t say the super idea will start in 2025 – say it will start now – as the time for having children may pass some by during this time.
Granted, it will add a bit more fuel to the market fire – but is that a fair-go reason, not to help young people get onto a level playing field?
It's not a level playing field - Reason 1
When I, as a 57-year-old tax payer can go to an Inner Melbourne auction for $1 million and it cost me $20,000 of my income to buy it – YET for a young homebuyer it costs them $80,000 of their income to buy that same home. It’s not fair. This is not a level playing field.
Is the market out of control, dangerous or is it doing what it should?
“Beggars belief – Defies logic – Unsustainable”
These are the headlines that in part, are being attached to the reasons why we should not help YOUNG PEOPLE with access to their super.
Can I ask why the authors of these headlines say this about the Inner Melbourne market?
What do they mean – what beggars belief in their mind?
That more and more people are wanting to come to Inner Melbourne?
That for all it’s internally recognised faults; Melbourne is seen externally as one of the truly great places in the world to bring up a family.
That political stability, business opportunities, an overarching community attitude of fair play, jobs, education, pollution, gun laws, health system, labour protections and………. are on the tick-off list of almost all skilled migrants in this world.
Why does our strong Inner Melbourne housing market, beggar belief?
Do the economists, bankers and other business people who are saying this, not believe in this century’s old economic demand and supply thesis.
<a href="https://marketnews.com.au/wp-content/uploads/DandS-260x195.jpg" target="_blank">Click to enlarge</a>
<img class="aligncenter size-medium wp-image-59674" src="https://marketnews.com.au/wp-content/uploads/DandS-260x195.jpg" alt="DandS" width="260" height="195">
What “defies logic” about the current Inner Melbourne housing and land market?
False assumptions or different perceptions
In a country, that for decades has been focused on “low fat”, only to become one of the obese nations of the world.
Is it defying logic to think that if we put more calories in (population), than we can exercise out (land), then our bellies will not explode (prices)?
It's not a level playing field - Reason 2
This government supported graphic below, is the Inner Melbourne home market price obesity issue.
This is another of the structural community decisions, that we as older people have made, that are impacting young people.
It’s great for us!
Our asset values go up; but it’s very difficult for young people who do not have housing assets.
<a href="https://marketnews.com.au/wp-content/uploads/VIF.jpg" target="_blank">Click to enlarge</a>
<img class="aligncenter size-full wp-image-59891" src="https://marketnews.com.au/wp-content/uploads/VIF.jpg" alt="VIF" width="299" height="205">
The true Inner Melbourne market price obesity issue is population and the lack of discussion we have around the actual number, rather than the issues.
Are the above population figures acceptable or not – are they sustainable or not?
Yes a falling population has different issues – look at Japan.
However Inner Melbourne doesn’t have a falling population issue – we have the opposite.
So are we really in some unexplainable pricing bubble, so bad that we can’t help YOUNG people because the market is “dangerous”?
Or are we in a normal, but strong market explained by limited supply (land) and increasing demand (population); which affects young people UNFAIRLY because of structural inequities around negative gearing, skilled migration, overseas investment and so on.
One final world about unsustainability of the market, before we get back to young people – young sub-million homebuyers.
These days we are all talking about “unsustainable.”
We seem to be focused on “unsustainable” pricing, rather than our “unsustainable” society as a whole?
In 2030 when your children’s children (grandkids) are 2-3 hours away in Albury or Bendigo, because of housing affordability inequities; or you can’t get an ambulance driver or a teacher, because they can’t find housing in your local area – is that the unsustainable bit you should be talking about or is it pricing?
We live in a society with some issues, but compared to many in the world right now, Inner Melbourne is one of the great pluralistic societies.
We have many obsessions like footy and food and housing AND population growth.
And as our population grows, I’m with the well known economist from Toy Story, Buzz Lightyear who says the Inner Melbourne housing market will, without a change in circumstance, continue to rise, with a few interruptions, ’till infinity and beyond.
Of course there will be hiccups and of course those that cry wolf often enough about doom and gloom, will eventually be right – but in the longer term are we really in so much trouble, that we can’t help young people?
Possibly when an assistant at the Reserve Bank or a leader of business says we are in danger, they are doing so for altruistic reasons to make people think, or they are under the boss’s riding instructions to “hose the market down” – BUT – when those statements are not attached with an additional explanation like – you still can buy a home only have a buffer for interests rate increases, then are those well meaning “expert” comments all that helpful?
Especially when all they usually hose down are the inexperienced homebuyers like the Youngies, who are nervous, in need of permanent housing and are already up against it.
If you believe in demand and supply, then possibly our Inner Melbourne market is not dangerous and we are in nothing more than a strong market.
Which brings us back to the young people in our society.
The young people's housing issue, in our opinion, should be addressed – it will not go away by osmosis AND it is UNFAIR.
Which brings us back to young people and their superannuation funds.
This could be a bloody good idea to level up the playing field for not us oldies, but for young people.
Young people don’t need special treatment; they just need a releveling of a very unlevel and UNFAIR playing field.
I will repeat – with my tax advantages as a 57-year-old tax payer I can go to an Inner Melbourne auction for $1 million and it cost me $20,000 of my income to buy it – YET for a young homebuyer it costs them $80,000 of their income to buy that same home, then that is UNFAIR.
As well, my deposit can come from the increase in my current home value for which I have done little – except make a few smart decisions over the last few decades – before many young people were born.
That possibly is unfair (but maybe not). My point – a young person’s deposit is so, so much harder to get – super could help.
<img class="aligncenter size-large wp-image-60071" src="https://marketnews.com.au/wp-content/uploads/49896-93WellingtonStreetKEW-3-597x447.jpg" alt="49896-93WellingtonStreetKEW-3" width="597" height="447">
Overseas skilled migration and overseas investors. With tax and other structural advantages, Xiou Lin from Beijing or Peter Pepper from the US, can buy that same Australian $1 million home with a myriad of interest rate and currency advantages over a local young homebuyer.
And please financial planners, bankers and so on – please don’t start telling us that young people’s money is better tied up in one of your funds, rather than good land content, near rail with a workable floor plan.
Please don’t do that without declaring your conflicts as well and showing us the stats that actually evidences that theory may have a scintilla of historical truth.
Young people, young Australians of all cultural backgrounds and religions are being pushed out of our society by housing structural unfairness such as negative gearing, skilled migration policies, overseas investment policies and restricted infrastructure spending.
We as older people have resided over a Tax and Immigration system, with the unintended consequence of making the homebuying market very unfair for young people.
It’s not a guilt trip, I don’t feel bad, I just think we should try and level it up a bit and MAYBE SUPER (under controlled circumstances and with due regard to other issues, such as the current industry) could do that.
The past week’s media blast on how bad an idea it is to try and help young people, because it may already add to a strong housing market is a valid point BUT total baloney in the overall scheme of things for young people.
I’m no rocket scientist and therefore I don’t know if the superannuation idea will work for sure, but it seems logical and worth a try.
This and other measures should be tried or Inner Melbourne may well become a desert of walking frames, grumpy old farts, unoccupied housing and NO YOUNG PEOPLE in a few decades.
Hawthorn, Toorak and Brighton could be just one big nursing home in 2035.
Try the superannuation idea and don’t make it too hard for young people to access it.
Please Young People, Daniel Andrews, Matthew Guy, Malcolm Turnbull and Bill Shorten – give the super idea some serious consideration – it seems to makes sense in giving young people a chance to get back on the playing field, with their biggest challenge – a deposit.
Apologies about being on a high horse and I’m not wedded to the super idea, nor am I the author of the idea – I just think it’s a bloody good idea worth being positive over and worth exploring for young people AND we oldies need to recognise that the current system is unfair for Youngies – and that may not be in our best interests in a decade or so.
MAL JAMES is principal of<a href="https://www.jamesbuyeradvocates.com.au/" target="_blank"> James Buyer Advocates</a>, which advocates on behalf of buyers of property over $1 million. Mal writes weekly auction reports, advice and in-depth market analysis on James' website.
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Helping young people get onto a level property playing field: Mal James 

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GUEST OBSERVER
Sensibly, the federal government abandoned plans to privatise the database of the corporate regulator just before Christmas.
Almost inexplicably, the New South Wales government continues to pursue its plan to privatise the state’s land titles registry.
We say “almost” because this deal is explicable only in that it will raise a projected A$1 billion to A$2 billion for the state budget. It is a one-off transaction to finance the upgrade of two football stadiums.
It utterly defies logic. Privatising a government monopoly, an essential service with zero competition, defies logic full-stop. In this case, besides the loss of jobs, besides the loss of a reliable $130 million a year dropping into state coffers, besides the loss of security for critical information – perhaps to an offshore private equity group – and besides the spectre of rising litigation costs, there is the matter of tax.
It is reasonable that voters demand of their elected officials to know where their assets may end up and who might own them. Will the profits of the NSW Land and Property Information Office (LPI) end up in a tax haven in an entity controlled by a financier of weapons? The notorious Carlyle Group is one touted bidder.
So “on the nose” is the proposal to auction off the LPI via a 30-year lease that the Law Society, the Real Estate Institute and the Institute of Surveyors have come out against it, as have staff and myriad other stakeholders.
Despite trenchant opposition to the NSW sale, South Australia is also tinkering with the idea of privatising its land titles office. The other states are watching on.
The tax haven connections
When it comes to leasing things to tax havens, state governments have form. In both Victoria and South Australia, electricity networks have links to tax havens. In NSW, too, some 40 percent of the Transgrid electricity sale last year went to two entities domiciled in the Cayman Islands.
The secrecy shrouding the auction of the LPI means the actual corporate entities lurking behind each bidding syndicate remain a mystery.
The public, which owns the asset, even has to rely on newspaper leaks, likely from investment banks involved in the sale, to speculate as to the identity of the bidders. According to press reports, the bidding line-up is down to three consortia and two private equity players:
<ul>
<li>Carlyle Group</li>
<li>Affinity Equity Partners</li>
<li>Hastings Funds Management, Advara and First State Super</li>
<li>Macquarie Infrastructure and Real Assets (MIRA) group and Link Group</li>
<li>Borealis Infrastructure’s Teranet, and Computershare.</li>
</ul>
Advised by Morgan Stanley, the Carlyle Group is more than just an artful tax structurer. As a significant investor in the arms sector, with high political connections such as former US president George Bush senior, it has a notorious track record of profiteering from wars, the Iraq War in particular. Even The Economist has written: “The secretive Carlyle Group gives capitalism a bad name.”
Stakeholders in the state of NSW concerned about sensitive details of who owns what land, and how the state is divided up, have good reason for concern.
Then there is the bidding combination of Macquarie Bank and Link Group. The former is well known for the aggressive tax structures of its infrastructure plays such as Macquarie Infrastructure Group (sold to Transurban), Thames Water in the UK and Sydney Airport.
It would be good policy, besides the basic political courtesy of a transparent auction process, that any privatised asset not end up in a stapled-security trust structure. For one, it is incumbent on the members of the trust rather than the trust itself to pay income tax, although members of these structures typically pay a tax rate of 10-15% rather than the 30 percent company rate.
Selling to a trust therefore means one-third to one-half the normal corporate-rate tax is paid. Further, private buyers are attracted to essential government services for the stability of their income; and so they can gear it up with debt to further reduce tax. It is not as if the LPI can go bust.
Link Group, part of the Macquarie consortium, is listed on the ASX. Over the past two years it has booked A$1.5 billion in cashflows and paid just A$2 million in tax.
The Hastings Funds Management, Advara and First State Super syndicate looks the cleanest in terms of tax. Though super funds pay half the corporate rate, at least tax is paid.
The fourth syndicate of Borealis Infrastructure’s Teranet and Computershare is a mixed bag on the tax front. Although Computershare pays large licks of tax in Australia, it also has a quiver of tax haven connections from Jersey, Guernsey, Bermuda and the Cayman Islands, to the British Virgin Islands, Ireland and the Netherlands.
For its part, Borealis is a Canadian leveraged buy-out firm, which bids for public infrastructure and loads it heavily with debt, often from an associate at suspiciously high interest rates. It is noted for wiping out taxable profits in the UK thanks to big loans from its own subsidiaries.
In the broader context, there has been an insidious creep in state secrecy over privatisation and the use of taxpayer funds, as evinced by the A$1 billion of taxpayer funds being deployed to finance a rail line for Adani’s coalmine in Queensland, a mine whose corporate entities have tax haven connections.
The least politicians could do is to insist, as a prerequisite of sale, that all bidding proposals see the light of day before any deal is done, and that all bidders are required to use an Australian corporation with no tax haven parentage.
 
Michael West is the Adjunct Associate Professor at the University of Sydney’s School of Social and Political Sciences and author for The Conversation.
He can be contacted <a href="https://theconversation.com/profiles/michael-west-339731" target="_blank">here</a>.
His website can be viewed <a href="https://www.michaelwest.com.au" target="_blank">here</a>.
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Will the profits of the Land and Property Information Office end up in a tax haven?: Michael West

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SPONSORED POST
Melbourne is the top ranked ‘tech city’ in Australia and 14th in the world offering the infrastructure, business environment, talent pool and lifestyle to make it a strong base for tech companies, according to new Savills research. 
And according to Victoria’s Minister for Small Business, Innovation and Trade, Philip Dalidakis, that is no surprise given the Government’s policy of taking “brand Victoria to the world”.
While US cities dominated the top of the Tech Cities rankings – Austin (Texas) came in at number one followed by San Francisco, New York, and London, according to the <a href="https://www.savills.co.uk/tech-cities" target="_blank">Tech Cities 2017</a> programme - the liveability of cities including Melbourne, Amsterdam, Copenhagen and Toronto, placed them above more established global tech rivals.
Savills National Head of Research in Australia, Tony Crabb, said the elevation of ‘liveable’ cities in the rankings centred on their strong performance in terms of ‘buzz and wellness’, factors that were likely to prove increasingly important to the tech industry in decisions on where to locate and on attracting future talent. Melbourne was ranked 8th on this index.
“Everybody here knows Melbourne’s reputation as the world’s most liveable city, a title it has taken for six consecutive years, and so it is not surprising to see how well Melbourne ranked on this metric. 
“That single factor may well prove, more than any other, the most critical factor in further establishing and maintaining Melbourne‘s pre-eminence in what is increasingly one of the most important employment and growth industries in the country,” Mr Crabb said.
The UK report quantified ‘buzz’ (nightlife, entertainment, culture) and ‘wellness’ (pollution levels, quality of parks, healthcare, commuting times) and the cost of living in each location to create a specific ‘city buzz and wellness index’. 
It noted that given the increased focus on physical and mental wellbeing among the latest generation of workers, it could come to dominate their decision-making.
According to Nicky Wightman, Director Savills Worldwide Occupier Services, providing an environment which enables tech companies and start-ups to plug straight into the infrastructure and funding they need to be a success is an important part of any tech city.
“However this alone won’t necessarily make them attractive destinations. Young tech talent increasingly want to live in dynamic, healthy neighbourhoods within walking or cycling distance of the office.
“Cities that deliver those environments are therefore likely to consolidate their positions as destinations for tech talent and occupiers who want to attract the best staff,” Ms Wightman said.
The report’s release follows the Victorian Government’s recent announcement that Texas-based software firm, AgileCraft, would open its Asia-Pacific headquarters in Melbourne.
Mr Dalidakis said AgileCraft was yet another example of a leading global tech company choosing Victoria as an entry point for the Asia-Pacific market.
“Over the past two years we have taken brand Victoria to the world, attracting more and more leading global companies to invest in the state’s booming tech sector,” Mr Dalidakis said.
AgileCraft Chief Executive Officer Steve Elliott said Melbourne’s emerging tech sector and close proximity to Asia made it a perfect location to set up its regional headquarters and expand throughout the Asia Pacific region.
“We consider ourselves to be an innovative company at AgileCraft and the Victorian Government made it clear to us that it is trying to attract innovative businesses to the state, so we look forward to being a part of the Victorian technology ecosystem,” Mr Elliot said.
Savills Tech Cities 2017 Buzz and Wellness Index 
<a href="https://www.propertyobserver.com.au/images/2017/03/22/Tech%20Cities%20-%20Overall%20Rankings.png" target="_blank">Click to enlarge</a>
 <img src="https://www.urban.com.au/images/2017/03/22/Tech%20Cities%20-%20Overall%20Rankings.png" alt="">
Savills Tech Cities 2017 overall rankings
<a href="https://www.propertyobserver.com.au/images/2017/03/22/Tech%20Cities%20-%20Buzz%20and%20Wellness%20Index.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/03/22/Tech%20Cities%20-%20Buzz%20and%20Wellness%20Index.jpg" alt="">  
About Savills Tech Cities
<a href="https://www.savills.co.uk/tech-cities" target="_blank">Savills Tech Cities</a> 2017 programme aims to understand the diverse factors that make places a good location choice for the tech sector; examining 22 global centres which have thriving and growing tech industries, home grown start-ups and incubators, and are at the top of global shopping lists for tech companies looking for space in which to locate. <a href="https://www.savills.co.uk/tech-cities/index" target="_blank">Explore the globe</a>.
 
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Savills research finds Melbourne top ‘tech city’ in Australia   

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From hip lobbies with a coffee shop ambiance to shared living spaces linking guest rooms, more hotels are turning their focus to providing inviting community areas.
For corporate travellers, it may mean sending a few emails from a co-working alcove complete with power and USB outlets, while leisure visitors may linger around tables stacked with board games or post photos to social media from the lounging zones.
“Today’s travelers often place greater value on convenience, sense of place and community than they do on the traditional luxuries offered by hotels,” says David A. Black, Americas Hotels Lead, JLL Project and Development Services. “That’s one reason why hotel companies are developing so many soft brands that have an emphasis on communal areas with spaces and experiences that bring people together in new ways.” 
The forthcoming Tru by Hilton is just one of the growing number of hotel brands encouraging its guests to spend less time in their rooms and more in specially designed communal areas. Aimed at Millennials — or people with a “Millennial mindset” — who want to connect with other travelers, the hotel’s innovative space called “The Hive” embodies the brand. Instead of a traditional lobby, guests have access to four zones — work, play, lounge, and eat — all designed for interaction and engagement.
Moxy Hotels, Marriott’s new boutique hotel brand, offers an industrial-style lobby with fun games on hand, along with coffee and full-service bars. And while not everyone will fancy the hotel’s signature feature, a communal ironing nook, Moxy Hotels is banking on Millennials appreciating its fresh approach.
“Some of this communal space is nothing new,” says Lauro Ferroni, JLL’s Global Head of Hotels &amp; Hospitality Research. “Hotels have always had lobbies, pools, bars and restaurants. But now the design and features of these communal spaces are being driven by hotels wanting to appeal to younger travelers.”
Going beyond the idea of a pool and sun-loungers as an outdoor communal space, one New Jersey hotel, The Asbury, has created a perennial backyard barbecue zone with Ping-Pong tables, live music, craft beer (served from a converted VW van), and food trucks.
<h2>Getting travelers together</h2>
The growing popularity of home rental platforms, such as Airbnb and HomeAway, and boutique hostels is also driving hotels to find new ways to accommodate larger groups of friends and families traveling together.
Marriott’s mid-range brand Element, which is aimed at guests staying beyond a few nights, is testing blocks of private rooms built around a communal kitchen and living room. “Really it’s about a much more shared economy these days. It’s much more about socializing and a sense of community when you travel,” says Toni Stoeckl, a Global Brand Leader at Marriott, in an interview with KTLA earlier this year.
The challenge for hotels is designing their communal areas in a way that appeals to their target guests – and provides them the requisite amount of privacy.
“Although there has been a growing focus on the Millennial traveler, hotel brands can’t afford to ignore their more “seasoned” travelers,” says Black. “That’s why design solutions must be flexible enough to provide both communal spaces which appeal to the co-working, co-living generation as well as spaces which appeal to baby boomers.  It’s not a one size fits all approach.”
In addition, people traveling in a group have different needs and expectations to those traveling in a couple.
“When you’re traveling, the communal experiences could turn out to be the most memorable part of the trip,” says Ferroni. “Yet you’re also going to have a lot of people who will say right off the bat that they have no interest in trying something like this, whether they’re business travelers who need their own space to get the job done or leisure travelers who want some time on their own.”
<h2>Is communal the way forward?</h2>
With the concepts of co-living and co-working taking off, bigger and more innovative social areas in hotels could well be in the cards – especially for brands targeting younger segments of the market.
Within the U.S., Ferroni believes it’s a concept that will take root in the bigger cities.
“I think it’s going to gain traction in large gateway markets like New York, Miami, or San Francisco where you have a large share of people coming from Europe who might be more comfortable with this concept,” he says.
Hotel executives might not be sure whether this is the next big thing, speculates Ferroni, but he says that it would be foolish for them not to give it a try. “They’re looking at it from a trial-and-error standpoint. Large hotel companies that want to be innovative can’t afford to ignore the potential of shared spaces – even if Millennials are not their key audience.”
This article by Laura Agadoni was featured in <a href="https://www.jllrealviews.com/industries/hotels-take-a-fresh-look-at-communal-spaces/" target="_blank">JLL Real Views</a>.
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Hotels take a fresh look at communal spaces

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Australian Prudential Regulation Authority chair Wayne Byres has defended bank profitability as a necessary buffer for a likely economic downturn.
Byres said a typical economic cycle is "eight good years and two tough years" and that banks should be able to "earn something above your cost of equity in the good times where inevitably you build up the buffers to hold you in good stead when the cycle turns."
"We are very conscious that we are running on a long cycle and inevitably it must turn." 
"We haven't found a way to abolish the cycle. We are a small country in a global economy and as well as we manage things in this country we always get tossed around by events overseas."
Byres said while the system was in good shape, there should be a focus on building up its resilience.
"At some point the cycle will turn and we want to be able to say, when the times were good, we put aside something for a rainy day. The rainy day has arrived and we can move through it."
APRA's function is to protect the savings deposited into the banking system by making sure these institutions are sound.
ASIC and APRA form part of the Council of Financial Regulators, along with the Reserve Bank and the Treasury, and work in concert on certain issues, including macroprudential policies 
Byres refused to even mention the "B-word", the Australian Financial Review noted after he spoke at an annual ASIC forum.
"It is superficial. It implies we are binary. We are in it [a bubble], we are not in it. If we are in it we're all going to [be] ruined. If we are not in it we're going to be right. It's too simplistic."
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Bank profits needed for an inevitable rainy day: APRA's Wayne Byres

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The prospect of allowing young people access to their superannuation for a home deposit has been previously dismissed by Malcolm Turnbull as a “thoroughly bad idea”.
But I don't think it ought be ruled out. 
It needs consideration as proposals to alter negative gearing and capital gains tax arrangements do nothing to help first-home buyers obtain their deposit.
There are some wise MPs pushing Treasurer Scott Morrison to allow indirect access to assist buyers onto the property ladder.
There are those against the plan, warning it would drive up housing prices and that allowing first-home buyers early access to super will set back a retirement income system that is still struggling to fully ­deliver. 
Ofcourse currently a household in difficulty with their mortgage has the chance to access superannuation to clear arrears sometimes, whereas a first home buyer in an otherwise good financial condition cannot temporarily access their super for a deposit.
The ­proposal was dismissed by Turnbull when floated by ­former treasurer Joe Hockey in 2015.
Financial advisor Daryl Dixon recently said the Australian government should look at the New Zealand access via KiwiSaver super accounts.
Dixon noted for many Australians without access to parental help, being granted partial or full access to their compulsory super accounts provided their best chance to obtain a deposit to gain entry to the housing market.
The New Zealand scheme sets limits on the value of the house and income of the purchasers.
Australian super funds may object to losing funds under management, but the suggestion is the use of mortgage offset account facilities provides an effective means to ensure that the money used as a house deposit is not lost to the super system.
The money invested in the offset account would remain the property of the super fund with the income from the offset account reducing the cost of servicing the mortgage.
For the government the annual cost would be limited to the loss of the 15 percent income tax that would otherwise be collected on super fund earnings.
Dixon suggested safeguards could limit use of the super fund mortgage offset account to 10 years by when inflation and mortgage repayments have built up the house owners’ equity. 
The Australian government could also look at Canada’s Home Buyer’s Plan where Canandian first home buyers can withdraw up to $25,000 from their super with funds repaid within 15 years.
Yes redirecting members super balances early in their contribution cycle will hurt the compounding effect of returns and lead to lower retirement balances. 
But Generation Y have been accruing more debt at an earlier age than any of their predecessors. With 40 percent of 18- to 35-year-olds with a study-related HECS debt, this generation are already on the back foot before they have even begun their careers.
This article first appeared in the Saturday Daily Telegraph.
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Allowing first home buyers to access their super to buy a house 

One of North Sydney's best-known commercial buildings could become hundreds of new homes, with insurance giant Zurich Australia lodging a State Significant Development Application (SSDA) to transform 5 Blue Street into a mixed-use residential development above North Sydney Station.

Rather than demolishing the existing building and starting again, Zurich is proposing an adaptive reuse project that would convert the landmark office building into a 15-level residential development delivering 62 apartments, 86 affordable co-living dwellings, activated retail and significant upgrades to the Blue Street Plaza.

The proposal reflects a growing trend of commercial property owners repositioning ageing office assets into residential housing as Sydney grapples with housing supply shortages and changing workplace demand.

<img alt="Zurich" data-entity-type="file" data-entity-uuid="0bba7d12-06dc-4375-aad7-238c94b21ac5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%2010.42.05%E2%80%AFAM.png?VersionId=NJl5oLAEBDGuPmY3RnyliKODjMc8lvRh" />

Located directly above North Sydney Metro and train station, the 3,051 sqm site occupies one of the most strategically positioned parcels of land on Sydney's Lower North Shore.

Designed by fjcstudio, the proposal seeks to retain and adapt much of the existing structure while creating a contemporary residential address that better connects with the public domain surrounding North Sydney Station.

The application proposes two basement levels, ground floor retail, affordable co-living accommodation across the podium levels, and apartments above, while preserving and enhancing the publicly accessible Blue Street Plaza.

Rather than pursuing maximum apartment numbers, Zurich has opted for a housing mix heavily weighted towards larger owner-occupier residences.

The proposal includes 62 build-to-sell apartments comprising 12 one-bedroom, 19 two-bedroom, 29 three-bedroom apartments and two premium penthouses. It also incorporates 86 affordable co-living dwellings, which would be managed in perpetuity by a Community Housing Provider.

That balance between traditional apartments and affordable housing reflects the NSW Government's push to increase housing diversity around major transport infrastructure.

The proposal has been lodged concurrently with a rezoning application, with Zurich arguing the site is ideally positioned to support additional housing given its immediate proximity to public transport, employment and services.

"The proposal aims to respond to the housing challenges facing Sydney through the delivery of diverse housing types in a highly accessible location," the design report by fjcstudio states. It also seeks to improve pedestrian amenity through upgrades to Blue Street Plaza while creating a high-performing residential building that responds to the surrounding context.

<img alt="Zurich" data-entity-type="file" data-entity-uuid="36082e15-c636-4481-bb68-5a5f6443fe39" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%2010.41.36%E2%80%AFAM.png?VersionId=5P6VD.fvmqjQfIG3TWWMRXxQWiQBjeFB" />

Rather than replacing the commercial building, fjcstudio has developed a design that works with the existing structural framework above the rail corridor, an approach that significantly reduces demolition while allowing the site to be repositioned as a mixed-use residential precinct.

The existing structural constraints have informed much of the building's design, including its relationship with Blue Street and surrounding public spaces.

The building has been designed as a slender tower rising above a clearly defined podium, with vertically expressed façades intended to reduce the perceived bulk while reinforcing North Sydney's emerging skyline.

According to fjcstudio, the architectural language responds directly to the surrounding commercial towers while maintaining a finer grain expression more closely aligned with the neighbouring Lavender Bay streetscape.

The tower incorporates articulated façade elements, landscaped podium edges and recessed upper levels to soften its appearance and improve pedestrian amenity below.

A significant component of the proposal is the revitalisation of Blue Street Plaza.

The existing public space has long served as one of the primary pedestrian connections between North Sydney Station, Greenwood Plaza and Blue Street, yet its role is expected to become even more important following the opening of Sydney Metro.

Zurich's proposal seeks to strengthen that role by improving landscaping, introducing new retail frontages, enhancing pedestrian permeability and creating more active edges throughout the day and evening.

Ground floor retail would wrap the plaza, while separate residential and co-living entries have been designed to improve wayfinding without reducing street activation.

Landscape design has been integrated throughout the podium and public realm, softening what is currently one of the most heavily urbanised parts of North Sydney.

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fjcstudio has carefully oriented apartments towards Sydney Harbour and the CBD while using privacy blades and articulated façades to minimise overlooking between neighbouring buildings.

Large framed openings along the western elevation maximise harbour outlooks, while the eastern apartments have been angled towards the south-east to improve privacy from neighbouring development.

The project forms part of the continuing transformation of North Sydney from a predominantly commercial CBD into a genuine mixed-use city centre.

Since the completion of Victoria Cross Metro Station, developers have increasingly shifted their attention towards residential projects capable of leveraging the area's unparalleled transport connectivity.

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FiveX recently lodged plans for a 61-storey, 490-apartment tower that would become one of the tallest residential buildings in North Sydney if approved.

Aqualand continues to expand its Lower North Shore presence following the completion of AURA on Walker Street and its recent St Leonards and Roseville proposals.

Developers are also progressing projects throughout Walker Street, Miller Street and the Victoria Cross precinct as demand for well-located owner-occupier apartments continues to strengthen.

Joel Robinson

First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station

Busy developer Aqualand Prestige has formally taken the next step in its expansion across Sydney's Lower North Shore, lodging a State Significant Development Application (SSDA) for its long-held Archer Street site in Chatswood.

The application covers <a href="https://www.apartments.com.au/new-apartments/51-55-archer-street-chatswood-nsw-2067">51-55 Archer Street</a>, a 1,767 sqm amalgamated site on the eastern edge of the Chatswood CBD, where the developer is seeking approval for a 45-level mixed-use tower delivering 114 apartments, including a significant affordable housing component, alongside retail, commercial space and six basement levels of parking.

The SSDA marks the latest milestone for a project Aqualand has been quietly progressing over the past two years. The developer first secured the site for its Aqualand Prestige platform before undertaking an alternative design excellence process with PTW Architects, ultimately avoiding a formal design competition through the Housing Delivery Authority pathway.

The proposal has evolved considerably from Aqualand's original concept. The revised scheme has been designed around larger owner-occupier product, with an unusually high proportion of three and four-bedroom apartments, targeting the more affluent buyer profile, and downsizer, emerging across the North Shore.

<img alt="Archer St" data-entity-type="file" data-entity-uuid="0171204c-5811-41b5-9b09-2335d1b7c3d0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%208.52.48%E2%80%AFAM.png?VersionId=6YTuxfq.puZo7k2wbfgemcO5K3QfXYGQ" />

The 114-apartment mix comprises six studios, 27 one-bedroom apartments, 18 two-bedroom apartments, 50 three-bedroom residences and 13 four-bedroom homes. A quarter of the building will be dedicated to affordable housing, well above the mandated 15 per cent&nbsp;

PTW has structured the building vertically, with affordable housing across levels one to six, premium apartments through levels seven to 31, duplex skyhomes on klevels 32 to 43, a penthouse on level 44, and a rooftop plant level above. Six basement levels will provide resident parking and servicing.

The tower is proposed to reach approximately 154 metres, placing it among a growing collection of residential high-rises transforming Chatswood's skyline.

Rather than competing purely on height, PTW says the design has been driven by creating a slimmer tower capable of delivering significantly larger apartments.

"The primary objective of this project was to create a distinctive building that stands out from the recently approved or built structures in the Chatswood area," the design report states, noting the structural efficiency allows greater investment into apartment quality and resident amenity.

Residents would have access to more than 450 sqm of communal open space including landscaped gardens, swimming pool, rooftop entertaining areas, fitness spaces, community gardens, children's play areas and barbecue facilities.

A major focus of the design has been the public domain.

The ground plane has been opened up through landscaped terraces inspired by Willoughby's sandstone ridges, with native planting, public seating, artwork, retail activation and a series of gathering spaces intended to soften what has traditionally been a hard commercial streetscape.

The landscape strategy references Blue Gum forests once common throughout the area, while incorporating Indigenous storytelling, public art and lighting installations to strengthen the connection to Country.

Chatswood has been one of Sydney's busiest apartment markets over the past 12 months, with a steady pipeline of both new project launches and fresh development applications.

Hyecorp recently launched Celine, a 122-apartment development just along Archer Street, while Changfa and Huirong Group are progressing The Anderson, an 84-apartment project on Anderson Street.

Develotek recently secured approval for a 101-apartment tower on Pacific Highway, while Tian An LFD received the green light for Hammond Greens, its apartment development on the edge of the Chatswood Bowling Club.

Commercial property developer FiveX is also making its move into the residential market. Last month it lodged plans for a 61-storey tower with 490 apartments, which, if approved, would become one of the tallest residential buildings in Chatswood.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-fivex-targets-chatswood-skyline-with-61-storey-tower-after-north-sydney-plans">First look: FiveX targets Chatswood skyline with 61-storey tower after North Sydney plans</a>

Aqualand is also expanding its development pipeline following the launch of its luxury residential brand, Aqualand Prestige. The developer has delivered a string of high-end apartment projects across Sydney's affluent suburbs over the past decade, most recently AURA by Aqualand on Walker Street in North Sydney.

[smartcode_project:default project_id=30959 project_image_fid=292863]

It has since quietly assembled its next wave of projects.

Earlier this year Aqualand launched Boronia in Roseville, a boutique 111-apartment development on Larkin Street. The project is one of the first significant apartment developments to launch in the suburb ahead of what is expected to become one of Sydney's most active new housing precincts under the NSW Government's Low and Mid-Rise Housing reforms, which allow greater density around train stations.

[smartcode_project:default project_id=152095 project_image_fid=373685]

The developer has also lodged plans for a two-tower, 413-apartment development on Herbert Street in nearby St Leonards, further strengthening its presence across the Lower North Shore.

Beyond that, Aqualand remains behind the final stage of Barangaroo, where plans will deliver a five-hectare mixed-use precinct comprising new homes, retail, hospitality and community facilities, alongside a new Metro entrance and more than two hectares of public open space, completing the Barangaroo precinct.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/central-barangaroo-development-takes-big-step-with-concept-proposal-approval">Central Barangaroo development takes big step with concept proposal approval</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-aqualand-joins-st-leonards-apartment-party">First look: Aqualand joins St Leonards apartment party</a> 
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First look: Aqualand pushes ahead with Chatswood apartment tower as SSDA lodged for Archer Street

Mass timber is becoming an increasingly popular construction material in apartment developments, but Adelaide developer <a href="https://www.apartments.com.au/developers/otello">Otello</a> is taking the approach a step further.

At its new <a href="https://www.apartments.com.au/new-apartments/flowe-bowden-18-gibson-street-bowden-sa-5007">Flowe Bowden</a> development, the exposed cross-laminated timber (CLT) structure isn't just about reducing the building's environmental footprint. It also forms the foundation of a broader wellness strategy, influencing everything from indoor air quality and natural materials to the way residents move through and experience the building.

The 115-apartment mixed-use development, designed by Melbourne-based architecture practice Fieldwork, will occupy a prominent island site opposite Bowden Village Reserve, combining one, two and three-bedroom apartments with retail and a dedicated wellness destination.

[smartcode_project:default project_id=152022 project_image_fid=375528]

Wellness isn't confined to a gym or shared resident facility at Flowe. Instead, Fieldwork embedded the concept into the building itself.

The development has been split into two residential wings connected by a naturally ventilated central breezeway, replacing traditional enclosed corridors with open-air walkways that improve natural light, encourage cross ventilation and create more opportunities for neighbourly interaction.

"Rather than treating wellness as something that only happens on the ground floor, our response integrates it throughout the building, which led us to ask what it really means to design a healthy building," Fieldwork Director Quino Holland said.

[smartcode_project:default project_id=152022 project_image_fid=375531]

The building's architecture also reflects Bowden's industrial heritage. The lower podium references the area's historic brick and sandstone buildings, while the upper levels transition to exposed CLT, allowing the timber structure to become a defining feature throughout the apartments and shared spaces.

The use of mass timber sits alongside a range of sustainability initiatives, including a fully electric, gas-free design, rooftop solar and a targeted 5 Star Green Star rating.

[smartcode_project:default project_id=152022 project_image_fid=375524]

Inside the residences, the focus remains on natural, durable materials. Blackbutt engineered timber flooring, exposed CLT ceilings, porcelain surfaces and warm timber joinery create a calming interior palette, while low-VOC finishes and responsibly sourced materials have been selected to improve indoor air quality.

Kitchens have been designed as the centrepiece of each apartment, featuring porcelain island benchtops, timber-look cabinetry and brushed steel tapware, with layouts that maximise natural light and ventilation.

[smartcode_project:default project_id=152022 project_image_fid=375530]

The more traditional interpretation of wellness comes in the form of Level Eleven, a two-storey wellness club spanning the ground floor, mezzanine and first floor.

The facility will include a gym, yoga and reformer Pilates studios, Finnish and infrared saunas, magnesium hot and cold plunge pools, and dedicated recovery spaces. Unlike many residential wellness facilities, Level Eleven will also operate commercially, allowing the broader Bowden community to access the venue while giving residents exclusive membership benefits.

The ground floor has also been designed around everyday living. A café overlooking Bowden Village Reserve will activate the street frontage, while a bike workshop with tool storage, co-working space and dog wash has been incorporated to support daily routines and encourage interaction between residents.

"Flowe brings together my two biggest passions, creating places and creating healthier lives," Otello founder Daniel Harris said.

"We wanted to create something Adelaide hasn't seen before, a genuinely healthy building, where the way you live is lifted without even trying."

Flowe is positioned directly opposite Bowden Village Reserve and within walking distance of Bowden Railway Station and the Adelaide Entertainment Centre, placing future residents just minutes from the Adelaide CBD while remaining connected to one of the city's most established urban renewal precincts.

[smartcode_project_cta:default project_id=152022]

Otello launches wellness-focused Flowe Bowden with Adelaide-first mass timber apartment design

Not all apartment amenities are immediately visible.

Swimming pools, gyms, rooftop terraces and residents' lounges have long featured on buyers' wishlists, but as the way Australians live has changed, so too have the features that make apartment living more convenient.

Increasingly, buyers are placing value on the practical aspects of day-to-day life. Fast internet, EV charging, secure bike storage, flexible workspaces and parcel management are becoming just as relevant as lifestyle amenities, reflecting changing habits and expectations.

Online shopping has been one of the biggest drivers of that shift.

Australians spent a record $82.6 billion shopping online in 2025, with almost one in every four retail dollars now spent digitally, making parcel deliveries a routine part of everyday life rather than an occasional convenience.

For apartment residents, however, receiving those deliveries isn't always straightforward.

Without someone home to accept a parcel, deliveries can be redirected to a nearby Post Office, left in building foyers or common areas, or require building management to temporarily store packages. As apartment living continues to grow across Australia's cities, parcel management has become an increasingly important consideration for both residents and developers.

Australia Post's Parcel Locker network is one response to that shift.

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Rather than relying on home delivery, eligible parcels can be directed to a nominated Parcel Locker, where they're securely stored until collected. Once a parcel arrives, residents receive a notification through the AusPost app or SMS and can retrieve it using a one-time code or QR code at a time that suits them.

The network has expanded to more than 1,500 locations nationwide, with Parcel Lockers positioned at Post Offices, shopping centres, supermarkets, transport hubs and, increasingly, within or alongside residential developments.

That growing presence reflects a broader change in how apartment buildings are being planned.

Developers are increasingly considering the operational side of apartment living alongside traditional lifestyle amenities. Just as secure mailrooms, bicycle storage and EV charging have become more common inclusions, parcel management is emerging as another feature that supports everyday convenience.

It also helps preserve the arrival experience within a building. Carefully designed lobbies and communal spaces can quickly become cluttered when deliveries accumulate, while secure parcel solutions reduce the likelihood of missed deliveries or parcels being left unattended.

For buyers comparing apartments, these everyday details are becoming part of the decision-making process.

Location, floorplans and finishes remain fundamental, but the features that simplify daily life are carrying greater weight than they once did. As online shopping continues to shape consumer behaviour, secure parcel delivery is increasingly becoming another amenity worth looking for.

Parcel delivery is joining the apartment amenity checklist

Inca Property Group has lodged a State Significant Development Application (SSDA) for Dawn, a 53-apartment oceanfront development overlooking Mona Vale Beach.

The proposal, at 35-39 Darley Street East, would replace an existing 18-apartment strata building with a new owner-occupier-focused development comprising 53 two and three-bedroom apartments, including nine affordable built-to-rent residences delivered under the State's infill affordable housing scheme.

Positioned on a 2,679 sqm elevated site around 280 metres from Mona Vale Beach, the development has been designed to maximise panoramic ocean views while responding to the site's sloping topography.

<a href="https://www.apartments.com.au/developers/inca-property-group">Inca Property Group</a> Managing Director Josh Thompson said the State Significant pathway provided greater certainty for projects of this scale.

"This State Significant pathway gives the team real certainty to progress <a href="https://www.apartments.com.au/new-apartments/dawn-35-39-darley-street-east-mona-vale-nsw-2103">Dawn</a> through to completion," Thompson said.

"It allows us to acquire a one-off site, design it carefully and deliver the right offering for the suburb, assessed by the NSW Government's planning department."

The project is one of the first developments in the area to be assessed under the NSW Government's Low and Mid-Rise Housing policy, with the site sitting on the edge of the policy's designated inner area.

The proposal includes three basement levels providing 124 car spaces, alongside a range of resident amenities including a swimming pool, gym, sauna, wellness facilities and private plunge pools for selected ground-floor and penthouse apartments.

<img alt="Dawn" data-entity-type="file" data-entity-uuid="fc1a1daf-0ce4-4f12-9076-b1fa553c7a91" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-21%20at%208.42.11%E2%80%AFAM.png?VersionId=4GZ9h.gpNkTljbxyAET8Jfhv51XUamDm" />

Thompson said Dawn had been designed specifically for owner-occupiers and downsizers, a buyer profile that has driven demand across Inca's recent Upper North Shore developments.

"The majority of buyers in our recent North Shore projects have been downsizers, and we are learning exactly what this market is looking for. Beyond the location itself, we have included resort-style amenities to deliver a genuine lifestyle offering," Thompson said.

Located within walking distance of Mona Vale Beach, the town centre, Mona Vale Golf Club and the Royal Motor Yacht Club, Dawn represents Inca's first Northern Beaches project following the sell-out of Tara on Park in Waitara and Ellis Residences, currently under construction in St Ives.

Construction will be undertaken by Inca's in-house construction arm, GOP Constructions.

Dawn is the latest major apartment proposal for Mona Vale, with the suburb emerging as one of the key beneficiaries of the NSW Government's new Low and Mid-Rise Housing policy.

New developer One Living, led by industry veteran Joseph Scuderi, recently secured a site on Mona Vale Road, on the border of Mona Vale and Pymble, where it is planning around 140 apartments.

IPM is also planning its third project in Mona Vale, significantly increasing the scale of its previous developments with an 82-apartment proposal at <a href="https://www.apartments.com.au/new-apartments/159-167-darley-street-west-mona-vale-nsw-2103">159-167 Darley Street West</a>, opposite Bayview Golf Course and less than 800 metres from Mona Vale town centre.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/one-living-enters-sydneys-new-apartment-market-with-northern-beaches-site-acquisition">One Living enters Sydney's new apartment market with Northern Beaches site acquisition</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-ipm-plans-third-mona-vale-project">First look: IPM plans third Mona Vale project</a>

Jonathan Chancellor

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