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Barrister Allan Myers QC has sold a half share in his cattle station operation the Tipperary Group of Stations in the Northern Territory for $49 million.
The stake was sold to Booloomani Pty Ltd, led by Melbourne lawyer Jason Yeap who is a fellow board member of the National Gallery of Australia Council with Mr Myers.
The offering included the pastoral leases of the main Tipperary Station along with Litchfield and Douglas West stations.
Barrister Allan Myers has been attempting to offload the original group of five stations for many years, selling Fish River in 2011, Elizabeth Downs in 2014, along with Douglas and Douglas South in 2015.
Mr Myers bought the Tipperary Group from property developer Warren Anderson in 2003.
When previously owned by Warren Anderson, the station was also used for a zoo of exotic animals. 
The latest deal with Booloomani was a direct deal which received Foreign Investment Review Board approval.
The other investors who have joined Mr Yeap in partnership with Mr Myers come from Australia and Hong Kong.
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jchancellor-FAypfDUnLy

Alan Myers sells a bit more of Tipperary

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<img src="https://counter.theconversation.edu.au/content/65714/count.gif" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
The Australian government is planning to privatise the management of the Australian Securities and Investments Commission database of companies. This is a potentially damaging move which goes against the government’s own open data policy.
On behalf of the Australian government, ASIC currently charges businesses and individuals around A$50 million each year for company searches. The information covers everything from details of shareholders and company officers (A$19 per document) and their roles and relationships with other bodies, to financial reports and records of charges over company assets (A$38 per document).
It is undoubtedly a great money-spinner to charge members of the public more than A$1 per page for a downloaded pdf document. However, the original legislative purpose of making information about companies publicly available was surely not so that the Australian government could profit from selling that information. Indeed, there is no public policy or economic rationale for the charges.
I am yet to meet an economist who argues that levying costs on public information about companies helps markets operate more efficiently. What we’re actually doing is segregating the market into those who can afford public information about companies and those who cannot.
The movement of company data from public to private hands is likely to entrench the charges for public information about companies. The corporate database is likely to be treated as nothing more than a cash cow.
Inevitably the focus will be on how to fatten the cow. The question asked will not be should we make [so much] money from public information, but how can we make more? The adverse economic consequences and lost productivity benefits that flow from costly public data will not enter the calculations.
<h2>Malcolm Turnbull has supported open data</h2>
In March 2014 Malcolm Turnbull, then communications minister, made the following salient comments:
"To be frank with you, I think it is really regrettable that ASIC’s data is behind a paywall.
I have to say as a matter of principle, I don’t think the government should be charging the public for data.
Obviously these are tough and troubled times from a budgetary point of view – and there will be all sorts of contractual issues – but really, the productivity benefits from making data freely available are so much greater than whatever revenues you can generate from them.
Our goal is … wherever possible to make that data accessible and free."
Our prime minister’s reported comments are consistent with the Australian government’s own 2015 Public Data Policy. This commits to optimising the use and reuse of public data, releasing non-sensitive data as open by default, and collaborating with the private and research sectors to extend the value of public data for the benefit of the Australian public.
I know many accounting academics who wish to conduct research to inform public policy using the financial reports on ASIC’s database. They are prevented from doing so because they do not have a spare A$50,000 lying around to buy the data.
<h2>Better corporate and tax regulation</h2>
Academics are not the only ones who would benefit from making ASIC’s public data freely available. It would also help individuals to scrutinise corporate affairs and, in doing so, make valuable contributions to the Australian regulatory authorities. This is the Jerry Maguire principle of public administration: help me, help you.
In carrying out its regulatory functions, ASIC relies heavily on complaints and reports of corporate misconduct received from individuals. Let’s do a cause and effect analysis here: the higher the charges for corporate information, the lower the scrutiny of corporate affairs by individuals, the fewer complaints made to ASIC, the weaker and more untimely corporate regulation.
The 2014 Senate inquiry report into the performance of ASIC must have had such an analysis in mind when it recommended that ASIC charges be brought into line with other jurisdictions. Searching for public information about companies is free in New Zealand and the United Kingdom.
The 2010 Senate inquiry report into insolvency practitioners is archetypal of the public policy problem. This committee found overwhelming evidence of bad and illegal practices in the insolvency industry. These practices thrived while there was low scrutiny and costly and missing financial information. ASIC was unaware of the nature and extent of what was going on.
Similar to ASIC, the Australian Taxation Office (ATO) relies on individuals to inform it of taxation misconduct by corporations. The same cause and effect analysis for complaints made to ASIC applies.
In carrying out its functions, the ATO is effectively hamstrung if individuals are unable to freely scrutinise the financial affairs of corporations and make timely complaints or reports. The heaving lifting of scrutiny and accountability in taxation falls on the few and the public purse is worse off because of it.
The 2015 Senate inquiry into corporate tax avoidance was remarkable not so much for the outlandish evidence of aggressive tax avoidance, but the incredulous expressions of senators in the Sydney hearing room as the evidence emerged. It was almost possible to read their thoughts: how could it be that we, the elected representatives of the people, could have missed this disgraceful state of tax affairs and for so long?
The answer, of course, is that there was a lack of timely genuine scrutiny by the public. It finally fell to investigative journalists such as Michael West (then of Fairfax) to blow the whistle after acquiring the financial reports of various multinational companies.
<h2>Cutting red tape for small business</h2>
Small businesses – often described as the engine room of the Australian economy – could also benefit from freely available company data. Small businesses and contractors should be able to educate themselves about the affairs of their corporate customers without having to pay the government for the privilege.
Unsecured creditors should be able to view the charges held against a company’s assets by secured creditors so they too can make informed decisions.
Employees and their representatives should likewise be able to freely access public information about corporate employers. Employees have an active and ongoing economic interest in a company, not least because of the employee benefits they accumulate such as annual leave, long service leave and superannuation contributions.
It is inefficient for the Australian government to levy charges that discourage timely regular scrutiny of large companies by employees. The social costs can be high when a company fails. Uninformed employees are likely to suffer shock and dislocation. Meanwhile the government often incurs the cost of paying out accumulated employee benefits.
<h2>In the public interest</h2>
Keeping public information about companies locked up behind paywalls and maintained by private interests is not in the public interest.
Free public information about companies in public hands will contribute to higher transparency, better governance and accountability, and less secrecy, incompetence, fraud and corruption. If the ASIC corporate database is sold, the opposite effects are virtually certain.
Jeffrey Knapp is lecturer/Accounting, UNSW Australia and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/jeffrey-knapp-128623" target="_blank">here</a>.
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Property 101: ASIC company data should be open and free – even Malcolm Turnbull agrees

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<img src="https://counter.theconversation.edu.au/content/63926/count.gif" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
Fremantle’s five-storey Myer department store closed in 2013 after four decades of service.
The demise of a mass-market store in the heart of Fremantle should have been a large blow to the retail and broader character of the area.
In the 20th century it would have been. But times have changed, in Australia and around the world. Rather than being left dormant while development plans were being drawn up, the building reopened as MANY 6160 six months after Myer closed.
MANY 6160 is Australia’s largest temporary place activation, with more than 20,000m² of space dedicated to retail, production and events. It provides spaces for independent artists, designers, other cultural workers and small business enterprises.
In February 2016, MANY 6160 became home to Australia’s second-largest private gallery (after Hobart’s MONA). Called Success, it operates from the building’s basement.
The temporary use of space has become popular in cities and towns across the world. When properties have lost their capacity to be rented or sold at a profit, or are left vacant for redevelopment plans, they have the potential for interim uses while the owner waits for development or for property prices to warm up.
<h2>How does temporary occupation work?</h2>
The advantages of temporary occupation are many. It allows members of a community to come together to work, socialise or learn, unencumbered by market-rate rents. It taps into culture’s current interest in customisation, localisation and co-creation. At MANY 6160 you can buy everything from 3D-printed jewellery to surfboards.
Temporary users can act as surveillance and maintenance providers for the property owner. At the same time, they bring cultural cachet to the space and adjacent area. 
Temporary occupation can bring about the challenging and redefinition of planning regulations and rental contracts. At MANY 6160, rental contracts are short – renters need give only 30 days’ notice to opt out.
With planning regulations tailored towards permanent occupation, the local council was slightly confounded as to how to determine the building class of the gallery in the basement. MANY 6160’s architect, Nic Brunsdon of Post-Architecture, says:
The city would not sign off on it at first. We had to get an independent evaluation to certify the building. All you need is a piece of paper [of certification] rather than do something to address the code.
Brunsdon delights in this grey-area-ness:
"It’s the place where no-one wants to be. It’s fertile ground. You need to revel in uncertainty and risk."
Recognising the benefits for users and owners, government agencies and developers are making it easier for real estate to become available for temporary use. They can, for example, reduce the liability for building owners and provide incentives for owners and citizens to start up their own projects.
Space-brokering agencies have emerged in cities and towns across Australia – Adelaide, Townsville, Geelong, Newcastle and Parramatta – and further afield, in places like Christchurch, Singapore, Chicago and Dublin. 
Perth has its own space-brokering service, Spacemarket, also available as an app since 2016. The service helps a diversity of tenants, from tech start-ups to community groups, to use the thousands of square metres of underutilised space in the Perth CBD.
It also partly solves a problem for commercial leases: vacancies fluctuate with market cycles; when vacancies are high, temporary occupation may be a solution.
While many local councils see the temporary use of space as a solution to providing cheap spaces for creative workers, in the long term it may not be so. Buildings will still be bulldozed or converted, rents will increase and tenancies will become affordable.
When this happens, those occupying the temporary space can get squeezed out, even though their presence and activity made the area culturally and economically valuable to start with.
This is a potential scenario for the creatives at MANY 6160. A A$220 million development planned for Kings Square may eventually force them to move on, despite the council’s ambitions to preserve the diversity of the temporary occupation in future.
<h2>Temporary, but with a city-making legacy</h2>
So, can temporary use influence local city-shaping and state decision-making in the long term, rather than simply being a stopgap? Can projects like MANY 6160 help to forge new approaches to urban design and planning?
The answer is yes. Temporary occupation creates opportunities for a new type of city-making.
With the current trend towards decreasing public expenditure on the built environment, the temporary use of space demonstrates alternative models of governance where developers, councils and citizens work together to resolve the issue of a lack of resources. The MANY 6160 project, in particular, demonstrates a shift in government behaviour towards incentivising and supporting citizens.
The City of Fremantle contributed $20,000 to the project. Citizens have put in thousands of hours of volunteer labour, along with the architects, who have borne start-up costs of more than $50,000. There is also the goodwill of building owner Sirona Capital.
A new world of cross-societal participation in urban design and planning has been opened up. However, the biggest advantage of temporary use has not been leveraged at the Fremantle site. The missed opportunity is an incremental approach to development, so that temporary occupation becomes a pivotal intermediate step towards long-term development.
In this scenario, the occupation of MANY 6160 could inform and influence the Kings Square development. Learnings from the temporary place activation – about the location, the community and other local factors – could contribute to the next iteration of the site.
The temporary project could be embedded within broader master plans and urban frameworks to test out experimental programs and governance models that could be brought into the long-term development.
The temporary occupation of space is ripe for exploration in Perth and other centres where the use of sites is constantly changing. When we cannot predict the future, let alone the next decade, interim use provides ways to reimagine buildings.
Citizens are increasingly demanding spaces for hours, days, weeks or months rather than years. This type of future city, contingent on mobility, requires a looser planning vision, one that allows for temporary occupation to inform future occupations, rather than merely being a placeholder for the development to follow.
Timothy Moore is PhD candidate, Melbourne School of Design, University of Melbourne and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/timothy-moore-292089" target="_blank">here</a>.
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From placeholder to pathfinder: innovative temporary site uses help us reimagine city spaces

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<img src="https://counter.theconversation.edu.au/content/63930/count.gif" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
With state governments across Australia acknowledging the need to limit urban sprawl, fill the gaps within existing metropolitan areas and build higher-density housing on selected sites, many opportunities have opened up. Demonstration projects are key to ensuring quality outcomes, and government has a leading role to play.
The Western Australian target for urban infill is at the lower end compared to other states. In August 2010, the Department of Planning and the Western Australian Planning Commission released Directions 2031 and Beyond, a report that proposed a more consolidated Perth, with an infill target of 47% of new housing.
The report stated that 328,000 new dwellings would be needed by 2031. The 47% target translates to 154,000 of these. This target was a 50% increase on infill trends at the time.
In 2015, the same two government agencies released the draft document, Perth and Peel@3.5 million, which again nominated the 47% infill target. However, the authors acknowledged that urban infill rates had reached only 28% in 2014. This means that, to reach the 47% goal, the required increase in infill has moved from 50% to 68% more than the actual infill numbers in the five years between the two reports.
<h2>Filling the housing gap</h2>
This is a substantial change, and one that will require significant shifts from “business-as-usual” approaches to housing delivery along with community acceptance of higher residential densities. Government can assist with these shifts and, in doing so, help to fill a conspicuous gap in the content of the reports.
This gap is the absence of anything more than the briefest of references to the nature of the housing that will provide the increased infill and density. There is no real discussion of housing types and design, methods of construction and delivery, or forms of ownership that may encourage a greater take-up of such housing.
Higher residential density and infill continue to face a level of community resistance. Some of this is justified, in that much of the completed suburban infill is of a poor quality and too fragmented to deliver the positive changes and level of amenity that higher density can bring.
A quick Google Maps scan across the middle suburbs of Perth shows the dominant form of suburban infill in the city. It is a compressed suburbia. Large houses are squeezed together onto sites, shrinking usable private outdoor space to leftover space, reducing access to sun and cross-ventilation, and diminishing existing tree canopy. Driveways, car courts and double garage doors engage with the street. 
<h2>How do we improve infill?</h2>
Looking at this prompts the question: how do we improve the standard? Researchers at Swinburne and Monash universities in Melbourne and at the Australian Urban Design Research Centre (AUDRC) at the University of Western Australia have proposed solutions.
The Monash project, Infill Opportunities: Design Research Report, prepared for the Office of the Victorian Government Architect, explores how considered design strategies can contribute to better-quality infill redevelopment in the middle-ring suburbs.
The strategies include:
<ul>
<li>
going above a single storey, with the height shifted away from site boundaries to reduce overlooking and shadow-casting of neighbours;
</li>
<li>
allocating usable private courtyards to each unit;
</li>
<li>
providing good solar access, cross-ventilation and outlook; and
</li>
<li>
developing a car-parking strategy that can change over time.
</li>
</ul>
In addition, the idea is for the units to have a degree of inbuilt flexibility so they can adapt to changing household circumstances. While this work remains diagrammatic, it nevertheless demonstrates that, with a clear focus on how design can enable amenity to be optimised, suburban infill can provide attractive housing options.
There are infill projects being built in Perth that demonstrate what is possible when real design intelligence is at play.
For example, LandCorp’s stage 1 development of Knutsford, 1.5 kilometres from the centre of Fremantle, provides a mix of well-considered housing types. These feature good indoor-outdoor relationships and clever spatial strategies to enable a high degree of internal flexibility.
This housing is being offered to the market at very reasonable prices. In stage 1, 23 units were completed, with 33 being built in stage 2, all designed by Spaceagency.
We need more good examples like this, with a greater diversity of housing types. The potential that is implicit in higher-density housing – the opportunities for social engagement, sharing of facilities, fewer cars, richer urban potential, better public space and urban realm – needs to be made explicit.
<h2>Time to revisit the display village</h2>
For more than 50 years, display villages have been used to promote and sell detached project housing. These displays have enabled buyers to see what they are buying and to understand the potential of the broader setting of the house.
Historically, display villages promoted, through built example, the houses that eventually formed suburbia. In the same way, a display village for higher-density housing units could promote options that are not currently on offer in the housing market.
Potential buyers would be able to experience and understand the qualities of the housing on display. A higher-density display village would demonstrate how, with intelligent design, these units can be spacious, adaptable and work effectively with outdoor space.
For Perth, such a display village would provide a valuable means for industry to innovate with housing types and forms of construction. A government imprimatur and the willingness to underwrite the first projects should ensure this outcome.
The village would offer design diversity in terms of type and form, construction innovation including modular and prefabrication techniques, use of new materials, and the ability to test new strategies for utilities and waste.
It would showcase design for low energy use on a precinct scale and for reduced car dependency. It would take advantage of Perth’s climate and allow a fluid relationship between indoors and outdoors, creating a sense of space, light and air.
<h2>Infill can add value to suburbs</h2>
Government and industry would plan and promote the project. Government would provide the land and industry would build the housing. The display housing would be open to the public for a period of time, then sold to individual buyers.
Affordability remains a major obstacle to broader acceptance of higher-density housing. This is because selling prices per square metre are considerably more than those of a detached new house on the suburban fringes. The display village could explore alternative forms of land and house delivery and ownership.
Higher-density housing isn’t necessarily a threat to the traditional Australian notion of suburbia. It need not be seen as a denigration of the values that recognise suburbia as having a particular quality that helps establish the idea of an Australian way of life based on the detached house and its backyard. There is a vast existing stock to ensure those values will remain in place.
The development of well-designed, high-performing and higher-density infill housing will, in fact, protect existing suburbs from the poorer-quality infill that is occurring, while allowing the benefits of an enhanced public realm to be shared.
The WA government has a major challenge in meeting its infill targets. It can help meet this challenge by initiating a government-assisted display village of quality higher-density housing. It would be the first state government in Australia to do so.
Geoffrey London is professor of Architecture, University of Western Australia and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/geoffrey-london-292101" target="_blank">here</a>.
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To cut urban sprawl, we need quality infill housing displays to win over the public

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GEUST OBSERVER
The Reserve Bank Board minutes provide little in the way of new information for consumers or businesses.
It is clear the Board members remain relatively optimistic on the domestic economy and believes that recent rate cuts were having an impact in lifting consumption.
However while the minutes acknowledge the depreciation of the Australian dollar, there was still the usual jawboning on the need for a lower Aussie dollar, with Board members noting that “an appreciating exchange rate could complicate the necessary adjustments in the economy”.
Interestingly the minutes suggested that the Central Bank was clearly less concerned about the housing sector – essentially a property bubble is no longer on its wall of worry. Nevertheless policymakers did discuss the substantial lift in apartment building that is taking place particularly across the Eastern states.
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The pipeline of dwelling construction will support growth however does increase risks of an oversupply of apartments in 12-18 months times. 
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<div class="column">Overall the minutes seemed to be more of a neutral setting rather than one that suggested further rate cuts were on the cards. But policymakers are well aware that the low inflation environment provides the central bank with scope to cut rates further if deemed necessary.</div>
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 The next round of inflation data is released in late October and essentially means that the mostly likely scenario for another rate cut would be at the November Board meeting – provided inflation remains well below the 2-3 percent target band.</div>
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<div class="column">The Bureau of Statistics has released data on home prices for the March quarter. However the better measures on home prices are those produced by CoreLogic RP Data. Overall it is clear that higher home prices are boosting wealth levels and supporting consumer spending. The modest decline in the weekly consumer sentiment reading is not concerning – particularly given confidence levels have lifting substantially in prior weeks. Overall consumers are in a happy place, particularly with household budgets in good order.
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What do the figures show?
Reserve Bank Board minutes
The key quotes from the Board minutes:
Economic growth: “data suggested that growth had been around estimates of potential growth over the first half of 2016, despite further large falls in business investment. Interest-sensitive sectors of the economy were being supported by accommodative monetary policy.”</div>
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<div class="column">Unemployment: “The unemployment rate had been little changed at around 53⁄4 per cent over 2016 and employment growth had been steady at around 2 percent in year-ended terms. Strong growth in part-time employment had been apparent in most states, while full-time employment had fallen in the mining-exposed states. Forward-looking indicators had been consistent with only a slight change in the unemployment rate in coming months. Domestic cost pressures, including wage growth, had remained low and were expected to remain so for some time.”</div>
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 Housing sector: “Housing market conditions overall appeared to have eased since the previous year, although the dwelling construction cycle remained in a strong upswing. The best available information suggested that housing prices had risen modestly over the past year and turnover had been below average. Consistent with this and supervisory measures that had strengthened lending standards in the housing market, housing credit growth had slowed over 2016. Members noted that there continued to be a considerable volume of apartments scheduled to be completed over the next couple of years, particularly in the eastern states”. Summary: “Taking into account the recent data, and having eased monetary policy at its May and August meetings, the Board judged that the current stance of monetary policy was consistent with sustainable growth in the Australian economy and achieving the inflation target over time...”
Consumer confidence
The ANZ/Roy Morgan consumer confidence rating fell by 2.2 per cent to 115.5 in the week to September 18. Confidence is up 0.9 per cent over the year and well above the average of 112.6 since 2014. All five components of the index fell in the latest week:</div>
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 <ul>
<li>  The estimate of family finances compared with a year ago was down from +12 to +10;</li>
<li>  The estimate of family finances over the next year was down from +27 to +25;</li>
<li>  Economic conditions over the next 12 months was down from +2 to +1;</li>
<li>  Economic conditions over the next 5 years was down from +10 to +9;</li>
</ul>
  The measure of whether it was a good time to buy a major household item was down from +40 points to +33 points.
Residential property prices The Bureau of Statistics (ABS) has released its Residential Property Price indexes.
“The price index for residential properties for the weighted average of the eight capital cities rose 2.0 percent in the June quarter 2016. The index rose 4.1 per cent through the year to the June quarter 2016”.
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<div class="column">The capital city residential property price indexes fell in Sydney (+2.8 percent), Melbourne (+2.7 percent), Brisbane (+1.1 percent), Canberra (+2.2 percent), Adelaide (+0.8 percent) and Hobart (+0.7 percent) and fell in Perth (-1.2 percent) and Darwin (-2.4 percent).</div>
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 Annually, residential property prices rose in Melbourne (+8.2 percent), Canberra (+6.0 percent), Hobart (+4.9 percent), Brisbane (+4.3 percent), Sydney (+3.6 percent) and Adelaide (+3.5 percent) and fell in Darwin (-6.5 percent) and Perth (-4.8 percent)”. </div>
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<div class="column">The ABS notes that as at June 2016 there were 9.703 million homes in Australia.</div>
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<div class="column">  “The total value of residential dwellings in Australia was $6,045,080.8m at the end of the June quarter 2016, rising $138,302.8m over the quarter.</div>
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<div class="column">  The mean price of residential dwellings rose $11,800 to $623,000 and the number of residential dwellings rose by 39,100 to $9,703,500 in the June quarter 2016”.</div>
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<div class="column">What is the importance of the economic data?</div>
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<div class="column">The ANZ/Roy Morgan weekly survey of consumer confidence closely tracks the monthly Westpac/Melbourne Institute consumer sentiment index but the former measure is a timelier assessment of consumer attitudes and is now closely tracked by the Reserve Bank.</div>
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<div class="column">The Australian Bureau of Statistics (ABS) provides quarterly data on residential prices. The figures provide further perspectives on the state of the housing purchase sector.</div>
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<div class="column">The Reserve Bank releases minutes of its monthly Board meeting a fortnight after the event. The minutes give a guide to Reserve Bank thinking on interest rate settings.</div>
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What are the implications for interest rates and investors?
Future rate cuts are wholly dependent on inflation. If the next inflation figures are even slightly above RBA and market forecasts, then the Reserve Bank Board members will stay on the interest rate sidelines. For the record CommSec has a further interest rate cut pencilled in for the November meeting.</div>
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<div class="column">Consumer confidence is healthy and is supporting a lift in spending - a result that was largely confirmed in the latest Commonwealth Bank Business Sales Index. </div>
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<div class="column">Savanth Sebastian is an economist for <a href="https://www.commsec.com.au/" target="_blank">CommSec</a></div>
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Reserve Bank in a happy place, confidence eases: CommSec's Savanth Sebastian

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GUEST OBSERVER
The growing interest in all levels of government in Australia in the concept of value capture has raised concerns in the property development industry. 
Value capture is not a magic pudding that will fund all infrastructure .
Federal, state and local governments across Australia seem to have discovered value capture as the way to boost funding for new infrastructure.
Clearly cities like Sydney will need increased densities around railway stations to house our growing populations and ways to fund new infrastructure need to be carefully considered so that they do not deter or slow down development.
To contribute to the debate on options for funding infrastructure the Urban Taskforce has engaged two respected economists from the Centre for Applied Economic Research at the University of New South Wales Business School to produce a detailed report on ways forward in this important area. 
Professor Kevin Fox and Dr Nigel Stapledon of the Centre for Applied Economic Research have significant experience and knowledge in this area, with Nigel Stapledon being the Head Economist for Westpac for 10 years and Kevin Fox having chaired the Australian Consumer Price Index Review Advisory group for a number of years. 
The findings of the Fox Stapledon report can be summarised through the following 10 areas. 
<ol>
<li>
There is confusion between the different levels of government on value capture approaches and better alignment is needed. 
</li>
<li>
There is a strong case to remove rate capping for Sydney councils. 
</li>
<li>
Density is essential near transport infrastructure to increase commuter volumes. 
</li>
<li>
A broad-based land tax is the most efficient way of capturing value created by new infrastructure.
</li>
<li>
The timing of new value capture taxes is important so that land owners factor this into sales pricing.
</li>
<li>
There is a strong possibility that that value capture taxes will raise the cost of housing.
</li>
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Stamp duty which increases the cost of housing should be removed as part of a review of property and land taxes. 
</li>
<li>
Special Infrastructure Contributions (SIC) in the vicinity of new infrastructure is a second best option to raise infrastructure funds. 
</li>
<li>
Government owned land when developed by the private sector should generate value capture but the sale price will reduce. 
</li>
</ol>
     10. International examples of value capture (London’s Crossrail, Hong Kong’s MTR) are not directly applicable to Australia. 
The overall message from the research report is that governments must not rush into the concept of value capture without understanding the flow on implications of an extra tax on the development industry and the negative impact this can have upon housing affordability. 
There are numerous ways to capture some of the uplift in value from new infrastructure and these will impact on the overall system of property and land taxes. 
The Urban Taskforce is keen to contribute to discussion with the various levels of government on options for the funding of infrastructure related to value uplift. 
We believe the state government is the tier of government that needs to take the lead role on the complex area of infrastructure contributions and the impact on the cost of housing. 
Chris Johnson is chief executive officer of property development industry group Urban Taskforce and can be contacted <a href="https://www.urbantaskforce.com.au/index.php?option=com_content&amp;view=article&amp;id=97&amp;Itemid=126#.Vdaart55dFI" target="_blank">here</a>.
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Value capture is a not a magic pudding: Chris Johnson

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GUEST OBSERVER
The minutes of the September monetary policy meeting of the Reserve Bank Board provided few surprises.
Of most interest in these minutes is the expanded analysis of the Australian housing market. Media reports and some high frequency industry data had been suggesting that the markets in Sydney and Melbourne were lifting again.
The Bank’s analysis of these developments appears to be more downbeat than had been expected. House prices are described as having “declined at the national level and across most capital cities over the past year”. Inflation in the rental markets was described as “around historical lows” and the aggregate rental vacancy rate “had drifted higher and was close to its long run average”.
The Board also noted the recent lift in auction clearance rates in Sydney. It qualified that signal by noting that “the number of auctions had declined and remained lower than a year earlier”.
It also noted that in the private treaty market turnover had declined and that “the average number of days that a property was on the market had been on an upward trend”. Slowing housing credit growth was also noted. As has been the case with previous remarks from the Bank, a future oversupply in the high rise apartment market seems possible ( but not certain) with “a considerable volume of apartments scheduled to be completed over the next couple of years”.
Conditions in the labour market were assessed as little changed in recent times with the unemployment rate reasonably steady at 5.75 percent in the year. The outlook for the jobs market was noted as “consistent with only a slight change in the unemployment rate in coming months”.
Overall the data suggested that the economy had been growing around potential (2.75-3.00 percent) in the first half of the year.
One important new piece of information since the last Board meeting was the release of the capital expenditure survey. The Board noted that mining investment had continued to fall and investment intentions in that sector implied a further large decline in 2016-17, although the peak subtraction from GDP growth was still expected to have occurred in 2015-16.
Household consumption growth is expected to be around average. The Board pointed out that lower interest rates can be expected to boost consumption since borrowers benefitted more from low interest rates than had been costs to depositors. The concern has always been that borrowers used the improved cash flow to pay down debt rather than lift consumption.
Growth in Australia’s major trading partners continued to be assessed as “a little below its decade average”. In particular, the recent lift in bulk commodity prices was attributed more to a reduction in production by Chinese producers than a sustained lift in demand.
Conclusion
We have been somewhat surprised at the more downbeat tone used around the housing market. Nevertheless this sentiment is not consistent with any imminent decision to adjust rates. The next inflation report will print on October 26 but it is considered to be highly unlikely that it would precipitate any policy response. Our current forecast is for a 0.5 percent underlying print for the quarter further signalling that inflation remains at or near the bottom of the 2-3 percent target zone but there are no grounds for concern, as we saw in April, that inflation was tumbling.
In that regard the Bank has released the Statement on the Conduct of Monetary Policy which sets out the new Governor’s agreement with the Government. We have been writing consistently on the appropriateness of widening the target band from 2-3 percent to 1-3 percent however we were never at all confident that the Bank and the Government would make such a profound change. The agreement that has been adopted is “an appropriate goal is to keep consumer price inflation between 2 and 3 percent on average over time.” This “over time” concept replaces “over the cycle” and appears to provide the Bank with more flexibility for inflation to remain at or below the bottom of the band for an extended period.
It suggests that under this agreement there will be less urgency to push inflation back to within the 2-3 percent medium term goal. The new Governor has also adopted a more explicit recognition that included in his objectives “financial stability”. The most likely channel through which interest rates can affect financial stability is via the housing market. We welcome the recognition of the importance of fostering financial stability when formulating a policy response.
On balance this new agreement reduces the urgency to cut rates further even in the face of another inflation shock.
While no one gives any chance to a policy move on October 4 there is still plenty of anticipation that the Bank will cut rates at its following Board meeting on November 1. We do not think that there is any evidence in the themes set out in these minutes or the recent Statement on the Conduct of Monetary Policy that would lead to a move in November. We remain comfortable with our view that the overnight cash rate will remain steady for the next few years.
BILL EVANS is chief economist of <a href="https://www.westpac.com.au/" target="_blank">Westpac</a> 
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RBA minutes reveal slightly surprising comfort around risks in the housing market: Westpac's Bill Evans

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<img src="https://counter.theconversation.edu.au/content/65084/count.gif" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
Value capture actually can work when it comes to funding new transport infrastructure.
My research on the Gold Coast light rail provides the figures to demonstrate the size of the gains to nearby land values, which were around 25 percent of the A$1.2 billion capital cost in stage one of the project.
Value capture is the idea that new transport infrastructure can be financed, or at least partly, by increases in land value around the project. It’s something Prime Minister Malcolm Turnbull has promoted and industry experts have come out in support of, but the proof has so far been elusive.
To shed some light on the potential scale of such property value gains, I studied the changes in Gold Coast land values following the opening of the light rail project in July 2014.
<h2>Why land values?</h2>
The case for this type of “beneficiary pays” view is a moral one more than an economic one. The moral case is that publicly funded transport projects should not be undertaken for the benefit of a select group of landowners.
For example, we know that the planning system is susceptible to favouritism because it gives windfall gains to landowners. The same holds for transport investments. Thus, there is a fairness argument for taxing these “unearned” gains to fund the transport investment that caused them.
A number of recent articles at The Conversation have described some of the options for translating land value gains into a revenue source.
But while we know that transport investments typically increase land values in areas that become more accessible, does a new rail line increase land values by 5%, or 50%? Taken together, what proportion of the transport investment costs can be funded by these gains? Are they 10%, or even perhaps 100%?
<h2>Who benefits, and by how much?</h2>
To answer the question of how large land values gains are, I used the full suite of statutory land valuations data available in the Gold Coast to tease out the land value variation over time at different distances from the light rail stations. By doing this I could see the path of relative land values for properties within 100 metres of the stations, between 100 and 200m, and so forth, up to 2 kilometres.
I found that land within 400m of the stations increased in value by 7% more than land between 400m and 2km from the stations in the year after the light rail began operation. This is in keeping with the results of some previous international studies.
By applying the price deviation to the total value of land in those areas (a little over A$4.2 billion in 2015), I could then estimate that the absolute change in land value was A$300 million. This is the once-off gain to the owners of the 1,324 plots of land within 400m of the light rail stations as a result of this transport investment.
This estimated value gain is net of additional rates and charges that arise automatically from increasing land values. It is also net of the additional charge levied citywide to help fund transport investment in the city.
At a 5 percent market interest rate, those capital gains are equivalent to an annual revenue stream of A$15 million. This is the total possible revenue from a funding system that perfectly captured all land value gains.
However, state governments already levy taxes on land values, though in Queensland there are many exemptions, including for land holdings under A$600,000 in value. After this, the marginal rate is between 1 percent and 1.75 percent.
It is possible to estimate the additional revenue available to the state government from land value gains due to this investment in the hypothetical situation where there are no exemptions. At a 1 percent land value tax rate, this would be an automatic increase of approximately A$2.5 million in annual land tax income from the value gains due to the light rail. At a 1.75 percent rate with no exceptions, the revenue would be A$3.9 million per year.
Overall, the land value gains from the Gold Coast light rail were around 25 percent of the capital cost. One of the simplest ways to capture these land value gains is to expand the existing state land tax system to remove exemptions. That would automatically capture 17-26% of the potential revenue from the value gains.
Cameron Murray is economist, The University of Queensland, and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/cameron-murray-172480" target="_blank">here</a>.
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Gold Coast light rail study helps put a figure on value capture’s funding potential

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South Australian police have arrested two men and a woman following an in-depth investigation into a property scheme.
It allegedly defrauded a Chinese national from Shanghai out of $2 million.
Eastern Adelaide Criminal Investigation Branch officers oversaw the investigation.
A 59-year-old man and 52-year-old woman from Eden Hills were charged with 11 counts of deception and three counts of dishonestly dealing with documents.
They were both granted police bail and will appear in the Adelaide Magistrates Court in November.
A 24-year-old Eden Hills man was arrested on Monday and charged with 25 counts of deception, dishonestly exploiting a position to advantage and dishonestly dealing with documents.
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Alleged Adelaide property fraud arrests

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Oswestry, the restored 1887 Glebe mansion, is up for sale having last sold in 2004 at $3.55 million to the James family.
The five-bedroom Glebe Point Road property, featuring Federation Queen Anne ornamentation, stands on 1003 sq m.
It is said that the American influence of McKim, Mead and White is evident in Oswestry's flamboyant architecture.
<a href="https://www.realestate.com.au/property-house-nsw-glebe-123603430" target="_blank">The property</a> had previously changed hands in 1997 when bought by medico Peter Tomlinson and his wife, Karen, from the mortgagees of the Morris family.
Oswestry has been listed through One Agency Christou Realty.
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Oswestry, the 1880s Glebe trophy home offering

Developer <a href="https://www.apartments.com.au/developers/bottega-property-group">Bottega House</a> has secured council approval for its first Brisbane project - a $270 million luxury residential development on an absolute riverfront site in leafy St Lucia.&nbsp;

The 15-storey project, known as <a href="https://www.apartments.com.au/new-apartments/st-lucia-by-bottega-house-180-macquarie-street-st-lucia-qld-4067">St Lucia by Bottega House</a> , will occupy a prime north-facing site at 178-180 Macquarie Street, directly fronting the Brisbane River in the established inner-west suburb known for its rowing clubs, golf courses and sprawling University of Queensland campus.&nbsp;

St Lucia by Bottega House will feature a suite of amenities including dedicated wellness spaces, a mineral pool and cold plunge. The project has been positioned to attract affluent owner-occupiers seeking high-quality, house-sized apartments.&nbsp;

Bottega House has been set up by co-directors Nick Malloch, Louis Mennes and Craig Marsh.

Malloch said the project drew inspiration from its Brisbane River setting and leafy inner-west surrounds, while responding to the demands of discerning locals looking to transition from freestanding homes into apartment living.&nbsp;

"With an expansive river frontage and lush green surrounds, we knew we had to create something special that reflects the natural beauty of the location while offering residents masterfully crafted homes," said Malloch.&nbsp;

"Our intent was to complement the project's quiet, private setting by introducing residences that offer a calm retreat and sanctuary from the everyday. The result is a harmonious blend of architecture, interiors and amenity that emphasises wellbeing, comfort and beauty without excess."&nbsp;

Malloch added that project consultants had been carefully selected in alignment with Bottega House's commitment to care, quality and attention to detail. The design team includes architects <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a>, interiors practice <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and landscaping by <a href="https://www.apartments.com.au/architects/urbis">Urbis</a>.&nbsp;

Three-bedroom apartments are expected to start around $5 millio. Selling agents Keenan &amp; Byrne said the pricing strategy for the project was anticipated to achieve upwards of $25,500 per square metre.&nbsp;

The project's development approval this week follows the success of Bottega House's inaugural Queensland project - a 22-storey collection of full-floor sky homes at Broadbeach on the Gold Coast which included the sale of a two-storey penthouse at a record price for a beachside residence.&nbsp;

St Lucia by Bottega House is expected to launch to market in November, with construction anticipated to be completed mid 2029.

[smartcode_project_cta:default project_id=151826]

Joel Robinson

Bottega House to make Brisbane debut with St Lucia riverfront apartment development

<a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> is advancing its affordable apartment model into Brisbane with the acquisition of another site at Cordelia Street in South Brisbane for $27 million.

Sherpa, which has a $1.7 billion pipeline across Southeast Queensland, intends to bring a cohort of apartments exclusively for first homebuyers into its proposed 186-apartment project to be built at 2 Cordelia Street.

The Sherpa model has already been incredibly well received from their Gold Coast projects, where Sherpa Group set aside a number of apartments exclusively for first homebuyers.

The new $320 million project marks Sherpa Group's second development in Brisbane, following its $255 million Symphony project, also on Cordelia Street, which is currently under construction.

Symphony will deliver 146 apartments across 28 levels, offering a mix of one, two and three-bedroom apartments. With 114 already sold, construction by <a href="https://www.apartments.com.au/builders/lps-group">LPS Group</a> is scheduled for completion in 2028.

[smartcode_project:default project_id=7574 project_image_fid=351654]

Sherpa Founder, Christie Leet, said the company was excited to be venturing into Brisbane for its second residential project.

“We’re big believers in the future of Brisbane as we lead into the 2032 Olympics and beyond,” Leet said.

“The success of Symphony has guided us into what will be our second project and we look forward to submitting our plans with council soon so we can deliver yet another quality project to the inner city residential market.

“Our Flourish model has been very well received both in Brisbane and the Gold Coast, and we’re excited to be able to offer some of these apartments again exclusively to first homebuyers to help get them into the property market.

“The model has been extraordinarily well received in our previous projects and it is something we are committed to moving forward.”

2 Cordelia Street will be designed by <a href="https://www.apartments.com.au/architects/hal-architects">HAL Architects</a> &amp; Finegrain and will include Sherpa’s signature residential amenities including pool, gym, recreation, wellness and work from home spaces.

The project will feature ground-floor commercial space, creating a vibrant amenity for residents and the surrounding community.

A development application will be lodged with Brisbane City Council in August on the code compliant site and will be launched to the market early 2027.

Sherpa acquires new site for second Brisbane apartment tower

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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&nbsp;

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.

&nbsp;

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.

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]

Jonathan Chancellor

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