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<p>The former Coalition deputy prime minister Tim Fischer has listed his lakeside Snowy Mountains retreat. </p>
<p>The Lake Khancoban lifestyle property, <a href="https://www.wodongarealestate.com.au/buying/NSW/Riverina-and-Murray/Khancoban/Land/1P10812" target="_blank">Kathmandu</a> last sold for 25 years - used since as both a summer and winter retreat.</p>
<p>There is a levelled home site on the 40-hectare holding, along with shedding.</p>
<p>Wodonga Real Estate agent Des Lonergan has it listed for $220,000.</p>
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jchancellor-FAypfDUnLy

Tim Fischer lists Lake Khancoban rustric retreat

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<p>A newly built Pakington Street, St Kilda residence fetched $1.678 million at its weekend auction.</p>
<p>A couple with a two-year-old outlasted four other bidders to buy the new three-bedroom home, according to The Herald Sun.</p>
<p>The contemporary three-storey house easily eclipsed its $1.4 million reserve.</p>
<p><a href="https://www.realestate.com.au/property-house-vic-st+kilda-122791430" target="_blank">The 35 Pakington Street offering</a> came with double garaging with turntable.</p>
<p>St Kilda's median house price is $941,000, according to CoreLogic.</p>
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St Kilda new home fetches $1,678,000

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<p>The Beach House Lane retail strip on Campbell Parade, Bondi Beach has understood to have been sold.</p>
<p>It was listed last month with expectations of more than $30 million by the Melbourne-based investor GLG.</p>
<p>GLG, which manages $200 million in assets, appointed Stonebridge Property Group to sell <a href="https://www.commercialrealestate.com.au/property/178-campbell-parade-bondi-beach-nsw-2026-2012772074" target="_blank">the property at 178 Campbell Parade</a>.</p>
<p>The centre is 100 per cent leased to 14 retailers, including premium fashion and restaurant operators.</p>
<p>No sale details have been revealed but it is understood that terms have been agreed at $32 million.</p>
<p>Its annual income was given as $1.836 million.</p>
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Bondi's $32 million laneway strata shop sale

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<p>Dandenong had Melbourne's cheapest sale when a two bedroom apartment at 7/40-42 Hemmings Street (above) fetched $168,000 through Barry Plant in a pre-auction deal.</p>
<p>It leases at $260 a week.</p>
<p>It previously sold at $56,000 in 1997 and <a href="https://www.barryplant.com.au/dandenong/property/536388/7-40-42-hemmings-street-dandenong/" target="_blank">$113,000 in 2003</a>.</p>
<p>The Brexit decision had zero impact with Saturday auction clearance rates continuing steady or improved conditions across the major auction cities.</p>
<p>Melbourne's top sale was $3,065,000 when an original three-bedroom house on the Aspendale beachfront sold after its weekend auction.</p>
<p>The redevelopment block of 570 square metres at <a href="https://www.realestate.com.au/property-house-vic-aspendale-122831358" target="_blank">34 Bowman Street</a> (below) had been passed in at $2,945,000 by the RT Edgar auctioneer.</p>
<p><img src="/images/2016/06/27/Screen%20Shot%202016-06-27%20at%2010.14.19%20AM.png" alt=""></p>
<p>The 1970s classic single storey house came with approved plans for a luxurious view-filled five-bedroom, four-bathroom home, designed by Wolveridge Architects. </p>
<p>The beachfront had sold last at 2014 auction for $2.65 million, when offered at $1.9 million plus.</p>
<p>The price guidance this time was $2.7 million to $2.97 million.</p>
<p>The street's top sale sits at $3.65 million since mid last year for a 2004-built home.</p>
<p>The nation's top sale was in Kirribilli, when Michael and Louise Tang, who operate supermarkets in Papua New Guinea, put their nearby terrace to by invitation-only auction yesterday.</p>
<p>There's been no formal price disclosure, excepting the <a href="https://www.realestate.com.au/property-house-nsw-kirribilli-122738302" target="_blank">Willoughby Street property</a> (below) sold for somewhere within its price guide of $8.75 million to $9.25 million to north shore buyers.</p>
<p><img src="/images/2016/06/27/Screen%20Shot%202016-06-27%20at%2010.15.39%20AM.png" alt=""></p>
<p>There were three registered bidders when auctioned through Belle Property. </p>
<p>Kirribilli's median house price sits at around $3.3 million.</p>
<p>Last traded at $2.55 million in 2000, the renovated five-bedroom, four-bathroom property has a library, guest suite, media room.</p>
<p>There's a north-facing rear garden and a pool.</p>
<p>Sellers have surged into the market over the past fortnight to avoid a clash with the federal election to be held next weekend, and also to avoid the school holidays too.</p>
<p>Melbourne hosted around 1,025 auctions, down from 1,085 last weekend, but higher than the 1,007 held one year ago, according to CoreLogic.</p>
<p>The initial results reflected a 68 percent success rate, signifying the third week in a row where Melbourne’s clearance rate sat below 70 percent.</p>
<p>Sydney’s 77 percent success rate was higher than the 73 percent in the prior weekend, but lower than the 82 percent of one year ago.</p>
<p>For the tenth week in a row, Sydney recorded a clearance rate in excess of 70 per cent. </p>
<p>CoreLogic spokesperson Kevin Brogan said the Sydney clearance rate had "maintained strength" over the past six months.</p>
<p>Brisbane 171 auctions secured a 48 percent initial clearance rate, compared to 45 percent last week and 46 percent one year ago.</p>
<p>Adelaide's clearance rate remains in the 60s, with 89 auctions securing a 67 per cent success rate.</p>
<p>"Over the past three weeks, the number of auctions held in Adelaide has held relatively steady and is also comparable to one year ago," Kevin Brogan said.</p>
<p>There were 42 Perth auctions held this week, with a fall in the weekly clearance rate, to 28 percent, from 31.9 percent from last week.</p>
<p>Canberra’s clearance rate rose this week, up from 61 percent last week to 64 percent this weekend.</p>
<p>Overall the national auction clearance rate sat 69 percent, up from 67 percent last weekend.</p>
<p>The rise represents a further improvement from the recent 65 percent low over the weekend leading up to the Queen’s birthday public holiday. </p>
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Aspendale knockdown sells amid Melbourne's softening market

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<div class="layoutArea">
<div class="column">GUEST OBSERVER</div>
<div class="column"> </div>
<div class="column">The past week has been dominated by first the anticipation that Britain would vote to Remain within the EU that saw “risk on” in financial markets and shares rally followed by an abrupt move to “risk off” as the referendum saw the Leave vote win by 52 percent to 48 percent.</div>
<div class="column"> </div>
<div class="column">The vote to Leave poses risks: to the UK economy which will also face a period of political instability with PM Cameron to step down by October and pro-EU Scotland pushing for another independence referendum; to Eurozone stability over fears that some Eurozone countries may seek to follow the UK; and hence to global growth.</div>
<div class="column"> </div>
<div class="column">It also threatens to add momentum to a move away from economic rationalist policies in favour of populism and a reversal of globalisation which would be a negative for long term global growth.</div>
<div class="column">
<br>Reflecting the worries about the impact on the UK and more significantly Europe financial markets reacted sharply in “risk off” fashion on Friday with the British pound (-8.1 percent), British shares (-3.1 percent), the Euro (-2.4 percent) and Eurozone shares (-8.6 percent) down sharply and this seeing global share markets down generally along with the Australian dollar. Safe haven assets such as bonds, the $US, Yen and gold have all benefitted.</div>
<div class="column"> </div>
<div class="column">This could have further to go in the short term until some of the dust settles. A concern is that a rising $US in response to safe haven demand will weigh on the Renminbi (sparking new fears of capital outflows from China), commodity prices and emerging countries taking us back to the global growth fears we saw earlier this year.</div>
<div class="column">
<br>However, it’s worth putting all of this in perspective. First the moves in some markets seen on Friday were exaggerated because the moves that occurred during the first four days of the last week when markets thought Remain would win had to be reversed. So, for example, while Eurozone shares fell 8.6 percent on Friday they only fell 2.6 percent over the last week.</div>
<div class="column"> </div>
<div class="column">Over the week as a whole US shares lost 1.6 percent, Japanese shares lost 4.2 percent, Chinese shares fell 1.1 percent and Australian shares fell 1 percent. Bad but not monumental. Believe it or not the British share market actually rose 2 percent over the last week. While the British pound fell 8.1 percent on Friday it only fell 4.7 percent over the week as a whole and the $A actually rose 1 percent last week. It was similar with bonds and oil – big moves on Friday but only modest moves over the week</div>
<div class="column">
<br>Second, Britain has only started down a process to exit and has a long way to go yet. It will first need a new PM then later this year formally notify its intent to exit which will then kick off a negotiation process that will then take up to two years to complete. This will determine the ultimate impact on the UK economy – either it will retain free trade access to the EU but have to continue to allow the free movement of people, agree to EU rules and regulations and contribute to its budget or forgo free trade altogether. At this stage its hard to see which way this will go. But the point is that for some time the UK will still be in the EU. </div>
<div class="column">
<br>Third, while the Brexit vote will likely trigger a guessing game as to which Eurozone country will try and follow its lead and ask for a similar referendum it’s doubtful that Eurozone countries will actually seek to leave because the hurdle to leave the Eurozone is higher than Britain leaving the EU as it will mean adopting a new currency, paying higher interest rates, etc. Just think of Greece despite its woes over the last few years consistently deciding to stay in the Eurozone. Countries to watch though are Italy following the recent success in municipal elections of the Eurosceptic Five Star Movement and maybe Spain given the success of Podemos.</div>
<div class="column">
<br>Fourth, the Brexit vote is unlikely to be akin to a Lehman moment because conditions are radically different. Lehman came after a long period of global strength and a credit boom where liabilities and exposures were opaque. That is not the case now and Brexit has been talked about endlessly so is not the surprise Lehman was.</div>
<div class="column">
<br>Finally, central banks have quickly adopted a “whatever is necessary” stance to provide liquidity to markets and support their economies, notably the Bank of England which is already providing £250bn. The ECB is monitoring the situation but its liquidity measures (eg TLTRO) are probably more than enough at present. The more important point is that global monetary policy will remain easier for longer. The Fed certainly will be slowed further in raising rates because it won’t want to put more upwards pressure on the $US which is being boosted by safe haven demand. A G7 Statement decrying excessive currency volatility has arguably given Japan close to a green light to intervene to stop the Yen rising much further. Expect more BoJ easing soon which should help Japanese shares.</div>
<div class="column">
<br>I am not so confident about British assets given the long period of uncertainty the UK will now face both economically and politically. However, the global bout of “risk off” underway is likely to provide a buying opportunity as Europe is likely to hang together, global monetary policy is likely to be even easier than previously thought and the global economy is likely to continue to see modest growth.</div>
<div class="column">
<br>Given that only 2.7 percent of Australian exports go to the UK and that the Leave victory is unlikely to plunge Europe into an immediate recession the main impact on Australia will be on financial markets. This could affect short term confidence and may add to the case for the RBA to cut interest rates again particularly if banks increase their mortgage rates out of cycle due to higher funding costs flowing from an increase in lender caution.</div>
<div class="column"> </div>
<div class="column">That said we expect the RBA to cut rates again anyway and a falling $A will continue to provide a shock absorber for the Australian economy. Overall, Brexit barely changes the risk of recession in Australia which remains low.</div>
<div class="column">
<br>The key for investors is to either look through the short term noise caused by the Brexit decision or look for investment opportunities that it throws up as investment markets become oversold.</div>
<div class="column">
<br>Just finally on Europe, the last week saw the German constitutional court approve the validity of the ECB's Outright Monetary Transaction (OMT) program, which partly underpins Draghi's 2012 commitment to do "whatever it takes" to preserve the Euro. This is a big relief because its rejection would have put a cloud over the ECB’s ability to respond to any turmoil in peripheral bond markets that may flow from the Brexit vote.</div>
<div class="column">
<br>Now on to other things!</div>
<div class="column">
<br>In Australia, the big event in the week ahead will be the Federal election (Saturday). Each side of politics is offering very different visions for the size of government:</div>
<div class="column"> </div>
<div class="column">Labor is focussed on spending more on health and education and in the process allowing the size of the public sector to increase, funded by tax increases on higher income earners (retention of the budget deficit levy and cutbacks in access to negative gearing, the capital gains tax discount and superannuation). The ALP would also undertake a royal commission into banking and intervention in the economy is likely to be higher than under a Coalition government.<br><br>By contrast the Coalition is focussed more on containing spending, and encouraging economic growth via company tax cuts and mild reforms. Despite the Coalition’s tilt to “fairness” with its super reforms it’s committed to keeping taxes down. It does plan to reinstate the Australian Building &amp; Construction Commission but even with the double dissolution election it’s unclear whether it will get enough votes to do this.</div>
<div class="column">
<br>At this stage the polls suggest the Australian election is too close to call. But it’s a big ask to see the ALP become the first opposition in 85 years to regain government after just one term as it will need to win 19 seats. As such betting agencies have the Coalition as favourite. However, the big issue may be what happens in the Senate with there being a good chance that the Greens and minority “parties” control the balance of power again acting as a huge constraint on the government, which would mean another de facto minority government, ie more of the same. Which in turn mean poor prospects for getting government spending under control over the next three years and for implementing serious productivity enhancing economic reforms.</div>
<div class="column">
<br>Over the 7 weeks since the election was called the Australian share market has fallen 3.1 percent. The next table shows that 8 out of 12 elections since 1983 saw shares up 3 months later with an average gain of 4.8 percent. This may partly reflect relief at getting the election out of the way.</div>
<div class="column"> </div>
<div class="column"><a href="/images/2016/06/27/Screen%20Shot%202016-06-27%20at%209.42.20%20AM.png" target="_blank">Click to enlarge</a></div>
<div class="column"><img src="/images/2016/06/27/Screen%20Shot%202016-06-27%20at%209.42.20%20AM.png" alt=""></div>
<div class="column"> </div>
<div class="column"><strong>Major global economic events and implications</strong></div>
<div class="column">
<br>Fed Chair Janet Yellen’s congressional testimony didn’t really add much. The key is that the Fed is “proceeding cautiously” to give it time to assess whether the US economy and inflation is on track with its expectations and given global uncertainties. Uncertainty and market turmoil flowing from the Brexit outcome is likely to further delay the Fed in terms of raising rates again.</div>
<div class="column">
<br>US economic data was mostly good. While durable goods orders were weak, the June manufacturing PMI rose, home prices rose, home sales were strong, jobless claims fell sharply and home prices continue to rise. And the US’s top 33 banks passed a Fed stress test indicating that they have enough capital to withstand a severe economic shock (involving unemployment doubling to 10 percent.) In other words they are in good shape to withstand any shock flowing from Brexit.</div>
<div class="column">
<br>The Eurozone composite business conditions PMI fell slightly in June with a decline in services (on Brexit fears?) offsetting a gain in manufacturing. It remains at a level consistent with moderate growth though.</div>
<div class="column">
<br>Japan’s manufacturing conditions PMI rose just 0.1pt to a still weak 47.8 in June indicating that growth in June quarter is still struggling.</div>
<div class="column">
<br>A couple of Chinese business conditions surveys moved in opposite directions for June with one up solidly and a small business PMI weakening. So bit of a wash there.</div>
<div class="column">
<br><strong>Australian economic events and implications</strong>
</div>
<div class="column">
<br>In Australia, the minutes from the last RBA Board meeting added little that was new with the RBA neutral and on the sidelines for now. However, our view remains that lower inflation and a too high $A on ongoing Fed delays will still see more easing ahead with the next cut likely in August. Meanwhile Australian economic data over the last week was uneventful. March quarter house prices fell slightly according to the ABS but more timely private sector data suggests a renewed pick up since then particularly in Sydney.</div>
<div class="column"> </div>
<div class="column">While population growth has slowed from its 2% peak late last decade to 1.4 percent last year it’s still contributing to solid underlying demand for housing. NSW and Victoria are the top states for population growth, and flowing partly from this house price growth. Which in turn partly explains the good state of their budgets. Finally, skilled vacancies continue to see reasonable growth telling us that the labour market remains solid.</div>
<div class="column">
<br><strong>What to watch over the next week?</strong>
</div>
<div class="column">
<br>The focus in the week ahead will no doubt see continued reaction to the Brexit referendum, particularly given an EU leaders’ summit on Tuesday and Wednesday.<br>In the US, expect to see a further gain in home prices and a slight rise in consumer confidence (Tuesday), solid growth in personal spending and a slight rise in the core private consumption deflator to 1.7 percent for the year to May, but a slight fall in pending home sales (all Wednesday) and a slight rise in the ISM manufacturing conditions index (Friday) to around 51.5 (Friday).</div>
<div class="column">
<br>In the Eurozone expect bank lending (Monday) and economic confidence readings for June (Wednesday) to remain around levels consistent with continued moderate economic growth. Core inflation data for June (Thursday and unemployment data (both Friday) will also be released. The outcome of the Spanish election on Sunday may also add to short term uncertainties regarding the Eurozone.</div>
<div class="column">
<br>In Japan, expect a slight fall in industrial production (Thursday), a deterioration in the June quarter Tankan survey reflecting the recent earthquake and continued softness in household spending but the jobs market (all Friday) is likely to remain solid helped by the falling workforce. Core inflation (also Friday) is expected to fall to 0.6 percent yoy in May.<br>In Australia, apart from Saturday’s election, expect the trend in new home sales (Wednesday) to remain modestly down, ABS job vacancies for the 3 months to May to rise consistent with monthly vacancy data and continued moderate credit growth (Thursday) and a slight softening in home price momentum in June (Friday) according to CoreLogic. The AIG’s manufacturing conditions PMI (Friday) will also be released.</div>
<div class="column">
<br><strong>Outlook for markets</strong>
</div>
<div class="column">
<br>The aftermath of the Brexit vote could see more volatility in shares in the short term. However, beyond near term uncertainties, we still see shares trending higher this year helped by relatively attractive valuations, ultra easy global monetary conditions and continuing moderate global economic growth.</div>
<div class="column">
<br>Lower and lower bond yields point to a soft medium term return potential from them, but it’s hard to get too bearish in a world of fragile growth, spare capacity, low inflation and ongoing shocks like Brexit. That said, the recent bond rally has taken bond yields to ridiculously low levels leaving them at risk of a sharp snapback at some point.</div>
<div class="column"> </div>
<div class="column">Commercial property and infrastructure are likely to continue benefitting from the ongoing search for yield by investors.</div>
<div class="column">
<br>Capital city dwelling price gains are expected to slow to around 3 percent over the year ahead, as the heat comes out of Sydney and Melbourne thanks to toughening lending standards and pockets of oversupply. Prices are likely to continue to fall in Perth and Darwin, but price growth may be picking up in Brisbane.</div>
<div class="column">
<br>Cash and bank deposits offer poor returns.</div>
<div class="column">
<br>While the Brexit outcome knocked the $A lower, it’s still higher than it should be and the longer term downtrend looks likely to continue as the interest rate differential in favour of Australia narrows as the RBA continues cutting and the Fed eventually resumes hiking, commodity prices remain in a secular downswing and the $A sees its usual undershoot of fair value. The $A is still likely to fall to around $US0.60 in the years ahead.</div>
<div class="column">
<br>Eurozone shares lost 8.6 percent on Friday night and the US S&amp;P 500 lost 3.6 percent in response to the Brexit vote. However, since the Australian share market largely responded to the Brexit outcome on Friday, ASX 200 futures actually rose 3 points or 0.1 percent indicating a basically flat start to trade for the Australian share market on Monday.</div>
<div class="column"> </div>
<div class="column"><em><span><a href="https://www.propertyobserver.com.au/https://plus.google.com/110172465327488162875?rel=author" target="_blank">SHANE OLIVER</a></span> is head of investment strategy and economics and chief economist at <a href="https://www.ampcapital.com.au/home" target="_blank">AMP Capital</a> and is responsible for AMP Capital's diversified investment funds.</em></div>
</div>
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Britain's EU vote in perspective and the Australia election: Shane Oliver

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<p>La Joie de Vivre, an opulent French provincial mansion at Bayview that featured on the first Network Ten series of the Bachelor, has finally sold.</p>
<p>But at substantially less than the $10 million last time, highlighting that record property prices aren't, like love, necessarily ever lasting.</p>
<p><a href="https://www.realestate.com.au/property-house-nsw-bayview-122692558" target="_blank">The Minkara Road mega-mansion</a> was marketed as set for sale around $7 million this time.</p>
<p>Over the past year suburb record prices have been set across Sydney, including at Rozelle and Malabar, as economists have expressed surprise at the 2016 price resurgence.</p>
<p>But the Bayview property isn't the only property resold at less than its record.</p>
<p>The whisper is that the Kingsford record setter from 2014 has just sold again for just under what was paid.</p>
<p>Jason Black of Black Lifestyle secured the then very bullish $4.15 million record sale of the contemporary five bedroom home with pool, cabana, home theatre room and custom office.</p>
<p>There's been no formal disclosure from it latest selling agencies, but interest parties on Tunstall Avenue were playing a tough negotiation with it lingering on the private treaty market for many months until its mid-June sale.</p>
<p>A Rozelle home, known as the Green House has been recently sold for about $4 million, highlighting the occurence of strong off market pricing.</p>
<p>Bettering the previous $3.25 million sale set in 2014, the Carterwilliamson Architects designed property has three bedrooms, two bathrooms and a swimming pool.</p>
<p>BresicWhitney selling agent Andrew Liddell said the outstanding nature of the property was behind the off-market deal.</p>
<p>He suggested deal arose as it was "a rare, premium type of property that already stands out from the rest of the neighbourhood."</p>
<p>He added he had a passive buyer who wasn’t necessarily looking but extended themselves in price for the right place.</p>
<p>Malabar also secured a suburb record recently, smashing through the $4 million barrier for the first time.</p>
<p>Set on 556 sqm, the five bedroom Prince Edward Street family home sold for $4.385 million pre-auction through LJ Hooker, well above it's $3.8 million to $4 million price guide.</p>
<p>The Chatswood residential property record was broken late last year, when a five bedroom broke the $6 million barrier for the first time in the suburb.</p>
<p>Sold for $6.055 million through LJ Hooker Lane Cove agent Kerrie Robertson, the double brick home built by the previous owner in 1998 had bidders spending over an hour at the auction.</p>
<p>One of the most impressive record breakers was in Seaforth, where a another five bedroom home sold for $10 million after being on the market for just 15 days on the market late last year to the Wang family.</p>
<p>Smashing the previous $9 million record which had stood since 2011, the home on a large 2970 sqm land parcel features a championship tennis court, a heated inground swimming pool and numerous putting greens.</p>
<p>This article was first published in the Saturday Daily Telegraph.</p>
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Bayview's La Joie de Vivre record price falls back

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<p><img src="https://counter.theconversation.edu.au/content/57114/count.gif" alt="The Conversation" width="1" height="1"></p>
<p>GUEST OBSERVER</p>
<p>Come election time, voters could be forgiven for seeing transport infrastructure as a slush fund. Politicians insist they’re all for sound economic management, but we might well be cynical about how much that really matters in the race to win votes.</p>
<p>The main parties have made big commitments to transport in this campaign. The Coalition has promised A$5.4 billion, Labor A$6.7 billionand the Greens A$6.5 billion.</p>
<p>The 2016 election follows the pattern of the past decade where more money is promised in Queensland than in any other state. Grattan Institute’s recent report, Roads to Riches, found that over the past decade Queensland received a disproportionate share of Commonwealth transport investment – in aggregate, per head, and compared to its relative need as a state.</p>
<p><a href="/images/2016/06/27/image-20160623-30259-1ls4uzj.png" target="_blank">Click to enlarge</a></p>
<h4><img src="/images/2016/06/27/image-20160623-30259-1ls4uzj.png" alt=""></h4>
<div class="enlarge_hint"> </div>
<h2>A lack of consensus?</h2>
<p>Line up the parties’ election promises against the others, though, and it’s remarkable how little consensus there is.</p>
<p>In New South Wales, only about 15% of the promised money has been pledged by more than one party.</p>
<p>There is not one project that all three parties have promised to build, and not one project that both the Coalition and the Greens have committed to.</p>
<p>We once had no way of knowing a good project from a bad one, but that was before the federal government set up Infrastructure Australia. It is charged with assuring the quality of government investment by assessing business cases against a national significance test. Generally, these business cases are for projects where state governments want a Commonwealth funding contribution.</p>
<p>Sometimes Infrastructure Australia identifies gaps on its own initiative. It is only involved in projects that are both nationally significant and worth more than $100 million.</p>
<p>The funding proposals are sorted into three categories:</p>
<ul>
<li>
<p>If there is a full business case and the proposal is worth doing, it is classed as a “project”. An example is the WestConnex motorway in Sydney.</p>
</li>
<li>
<p>If there is a full business case but the project is not worth doing, it is not classified but Infrastructure Australia publishes the evaluation on its website. An example is the Winchelsea to Colac road duplication, with an extraordinarily low benefit-cost ratio of 0.08 – that is, only eight cents worth of value for every dollar spent.</p>
</li>
<li>
<p>If there is not yet a full assessed business case, the proposal is classed as an “initiative”; the Melbourne Metro Rail proposal, for example.</p>
</li>
</ul>
<p>It should be simple. All parties should commit to the “project” list – in part or in full – and then stop spending. These “projects” have been properly assessed and found to be worth doing, and specifically worth doing by the federal government because they have some national significance.</p>
<p>But that is not what is happening. The Coalition, Labor and the Greens are making substantial commitments to projects that not only lack proper business cases, but are not even on the Infrastructure Australia priority list at all. This includes projects like:</p>
<ul>
<li>
<p>the Walkerston Bypass in Queensland ($150 million from Labor) and the Townsville Ring Road and related infrastructure ($900 million from the Coalition), which could not even under the most charitable definition be described as nationally significant;</p>
</li>
<li>
<p>the duplication of the Princes Highway from Winchelsea to Colac in Victoria (to which the Coalition has promised $181 million), which Infrastructure Australia has rejected as not worth doing; and</p>
</li>
<li>
<p>small projects, such as a $32 million roundabout upgrade at Hobart Airport promised by Labor, that are not subject to the Infrastructure Australia assessment, or often to any other evaluation either.</p>
</li>
</ul>
<p>Almost all the funding promised by all parties is for proposals that lack a proper business case. Some of this spending may turn out to be worth doing; much will not. Only a small share of it is for projects that we know to be worth doing.</p>
<p>The Coalition’s spending is more aligned with the projects we know to be worth doing than the other parties’, and Labor’s is slightly better aligned than the Greens’.</p>
<p><a href="/images/2016/06/27/image-20160623-30289-w5j724.png" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/06/27/image-20160623-30289-w5j724.png" alt=""></p>
<p>If the parties were to commit to the whole list of projects that we know to be worth doing, it wouldn’t send us broke. Only seven items have been classified as “projects”. These are the WestConnex motorway and the M4 motorway upgrade in NSW, the Ipswich Motorway and the M1 Pacific Motorway in Queensland, the Perth Freight link and the Mitchell Freeway extension in Western Australia, and Brisbane-to-Melbourne inland rail.</p>
<p>Some are certainly expensive, but so too are many other proposals of uncertain value that parties have committed to anyway.</p>
<p>It turns out that all parties have ignored or shunned projects that we know to be worth doing. Two of the seven worthwhile “projects” have no support from any party in this campaign. These are the M4 motorway upgrade and the Mitchell Freeway extension.</p>
<p><a href="/images/2016/06/27/image-20160623-30283-af54jk.png" target="_blank">Click to enlarge</a></p>
<div class="enlarge_hint"><img src="/images/2016/06/27/image-20160623-30283-af54jk.png" alt=""></div>
<h2>Why parties pick the wrong projects</h2>
<p>Failing to choose these projects seems like not bothering to pick up $50 notes from the floor. Why do parties do this?</p>
<p>A big clue lies in the state breakdowns. All parties want to spread their spending around, unless the state or territory in question offers no electoral advantage. But the projects known to be worth doing are spread unevenly – two are in NSW, two in Queensland, two in Western Australia and one is national.</p>
<h4><a href="/images/2016/06/27/image-20160623-30259-fol9rt.png" target="_blank">Click to enlarge</a></h4>
<p><img src="/images/2016/06/27/image-20160623-30259-fol9rt.png" alt=""></p>
<div class="enlarge_hint"> </div>
<p>Another clue is that parties want to spend in the regions, but most proposals that stack up are based in major cities, improving commuting and connections with ports and airports.</p>
<p>Most of Infrastructure Australia’s “project” assessments are urban. The NSW projects are both in Sydney. The Queensland projects are in Ipswich and a link between Brisbane and the Gold Coast. The Western Australian projects are road projects substantially centred on Perth. The sole non-urban project is rail, running from Brisbane to Melbourne via inland NSW.</p>
<p>A third clue lies in the mode of transport that the parties favour. Prime Minister Malcolm Turnbull’s enthusiasm for public transport notwithstanding, the Coalition tends to choose road over rail more than Labor does.</p>
<p>The Greens have taken the approach of committing to one major public transport project in every capital city – none of which have been classified as “projects” by Infrastructure Australia, and most of which are not even on its initiative list.</p>
<p>A fourth clue lies in project size. The Coalition and Labor have both promised a large number of small projects on top of their big commitments. By contrast, the Greens have only their major capital city public transport proposals, although they would probably support a government seeking to advance proposals such as the Gold Coast light rail.</p>
<h2>It doesn’t have to be this way</h2>
<p>All three major parties exhibit a big gap between what they say and what they do. All claim to support proper process, both to get the infrastructure needed and to spend money wisely.</p>
<p>The parties may well excuse their bad habits by saying the voters seem to like them. On one level this is true – if you are the direct beneficiary of a new road-widening project on a country highway, or if you travel to the airport regularly but don’t like buses, you may understandably support the candidate offering the big new road or the airport rail link.</p>
<p>By contrast, the losers are dispersed, and the boondoggles are paid for by worthwhile projects that are never built.</p>
<p>Australia doesn’t have to guess what transport infrastructure to build – it has a process that determines the answer. Cost-benefit analysis, with all its imperfections, remains the one way we can compare projects on a like-for-like basis.</p>
<p><em><span class="fn author-name">Marion Terrill is t</span>ransport program director, Grattan Institute, and author for The Conversation. She can be contacted <a href="https://theconversation.com/profiles/marion-terrill-169480" target="_blank">here.</a></em></p>
<div class="content-authors-group"><ol>
<li id="author-130423" class="vcard">
<p> </p>
</li>
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Will the election 2016 infrastructure promises meet Australia's needs?

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<p>The Dutch real estate investor Universal Partners is selling off its rural holding on Queensland's Curtis Island with likely buyers tipped to be tourism operators.</p>
<p>The 2680 hectare holding was once owned by cattle baron Sir Graham McCamley who sold in  2003.</p>
<p>The land with rugged coastline, white sand beaches and fresh water lagoons was purchased by the Rotterdam-based investment group for more than $10 million over a decade ago.</p>
<p>It sits 55 kilometres east of Rockhampton, within the Great Barrier Reef World Heritage Area.</p>
<p>The North Hollywood-based Australian Resort Enterprises has a major parcel of land at the southern end of the island. </p>
<p>The Australian Financial Review noted the neighbouring Monte Christo cattle station came to an end in 2014 when three gas companies, Santos GLNG, Australia Pacific LNG and Queensland Curtis LNG, jointly purchased the 22,000 hectares for environmental offsets. </p>
<p>CBRE have been appointed to sell Universal Partners holding which includes 25 freehold titles and two air strips.</p>
<p>"Opportunities abound to create a private retreat, boutique eco resort or commercial hub capitalising on North Curtis Island's outstanding location," Chris Holgar said. </p>
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Curtis Island farm listed by Dutch investor

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<p>The West Australia farm, Yathroo, covering almost 12,000ha at Dandaragan, has been sold by its Kuwaiti owner to Wagin couple Mat and Jade Stoney.</p>
<p>It is understood the Stoneys will transform Yathroo for cropping and cattle production.</p>
<p>Yacoub Yousef Al-Homaizi farms 50,000 sheep and lambs with about 2000ha set aside to grow crops sine he bought it more than two decades ago from bsuinessman Alan Bond </p>
<p>It was sold by Elders agents Malcolm French and Andrew Farson.</p>
<p><a href="https://www.realestate.com.au/property-mixed+farming-wa-dandaragan-7791386" target="_blank">Yathroo</a> was founded soon after a settler expedition in 1848.</p>
<p>It still comes with its original 1855 homestead, set about 165km north of Perth.</p>
<p>The Al-Homaizi Group was founded by Yacoub Yousef Al-Homaizi, now in his 80s, who was a major force in the economic and social development of Kuwait.</p>
<p>Around $40 million was tipped.</p>
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Yathroo, WA farm sale by Kuwaiti

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<p>Tim Gurner's newly proposed apartment development at 156-162 Alfred Street, Brisbane, will now be developed in the next property boom.</p>
<p>The Melbourne developer had just received approval for a $140 million apartment project in Brisbane's Fortitude Valley, but says he will now wait for the next cycle to develop. </p>
<p>"There is no doubt that the Brisbane market has slowed in recent months," he told the <em>Australian Financial Review</em>.</p>
<p>"Developer funding challenges and increasing construction costs have made the environment increasingly difficult to get new projects off the ground in Brisbane, but we are committed to Fortitude Valley and excited to launch this project in the next market cycle," Mr Gurner said.</p>
<p>His proposed 15-level building on Alfred Street, designed by Elenberg Fraser, would have provided 184 apartments.</p>
<p>Mr Gurner said that his financing was secure but he had known of several other projects where financing had been knocked back. </p>
<p>"It is the escalation of construction prices in Brisbane in the past 12-18 months that will pose more of an issue," Mr Gurner said.</p>
<p>"Projects that weren't fully pre-sold last year are now not viable given the recent spike in construction costs, which is incredibly shortsighted as this will only hurt builders and trades in the following 12-36 months when there won't be any new projects to commence construction," he said.</p>
<p><span>Construction on his $600 million FV project proceeds elsewhere</span><span style="line-height: 1.3em;"> in Fortitude Valley, at Brunswick Street, Alfred Street and Barry Parade, in what was Gurner's first foray interstate.</span></p>
<p>The project, also been designed by<span style="line-height: 1.3em;"> architects Elenberg Fraser, secured strong sales after its late 2014 launch.</span></p>
<p>Dubbed by the Melbourne Age newspaper as "gym owner turned blue-collar then white-collar property developer," Gurner is speculated to have sold a major development site in Footscray.</p>
<p>The 1 Warde Street site covers 2170 sq m with a permit for towers rising 26 levels and containing 388 dwellings atop a commercial component.</p>
<p>Set within the state government's Joseph Road urban renewal precinct, <em>The Age</em> advised the recent sale price has not yet been disclosed by CBRE's Mark Wizel.</p>
<p>More than $10 million had been sought.</p>
<p>Tim Gurner was among a group of young property developers who burst onto the recent BRW Rich 200 list this year.</p>
<p>He was the list's youngest debutant, aged only 34 and with an estimated $460 million fortune. </p>
<p>Gurner is concentrating mainly on Melbourne but has in the past month settled on two sites in Sydney. </p>
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Tim Gurner calls halt to new Fortitude Valley, Brisbane project

<p>Nature Based Cities (NBC), the not-for-profit organisation focused on improving biodiversity and nature outcomes in urban development, has launched its latest industry design guidelines and accreditation framework, this time targeting precinct-scale residential communities.</p>

<p>The move extends NBC’s influence beyond its initial focus on medium and high-density residential developments. Several projects have already achieved NBC accreditation since the launch of its Medium &amp; High-Density Residential Guidelines in early 2025.</p>

<p>The expansion into masterplanned communities and new residential precincts reflects the growing need for stronger nature-positive benchmarks as Australia’s outer suburban growth corridors continue to expand at pace.</p>

<p>Paul Hameister OAM, NBC Founder and the Executive Chairman of Melbourne developer Hamton who itself leans heavily into nature and biodiversity in its developments, says the&nbsp;nature-first approach to mitigate the effects of climate change has become standard in other parts of the world such as the UK, but Australia is lagging.&nbsp;Australia’s environmentally sustainable design (ESD) rating tools have no minimum mandatory requirements for living landscapes.</p>

<p>“We’ve always wanted to do more, and we know other developers who want to do more, but the ESD rating tools just aren’t there,” Hameister says. “In Australia, you can have a five-green-star rated building that’s concrete and glass with not a blade of grass.<br />
<br />
“The focus is on reducing emissions, which is laudable, but there hasn’t been enough attention paid to protecting and re-establishing nature. We need both for the health of the environment and for communities.”</p>

<p>He says that having now&nbsp;made good progress in supporting developers of medium and high-density residential projects, NBC is now looking to bolster better nature-based decision-making and recognise developers of greenfield projects in the outer ring and large inner-ring brownfield precincts, who want to champion nature and living landscape as a defining feature.</p>

<p>Since 2022, the not-for-profit has sought to remove the roadblocks preventing developers from incorporating nature and living landscapes into their projects, shifting the conversation from the reduction of emissions and grey infrastructure, toward recognising nature as an essential infrastructure.</p>

<p>The New Communities Design Guidelines and Scorecard arm developers with the tools needed to deliver a nature positive outcome for their new communities. Intended to be adopted at the outset of the planning process, the guidelines are designed to help create communities that are cooler, healthier and more resilient while also enhancing social wellbeing and long-term economic value.&nbsp;</p>

<p>New Communities developers seeking accreditation will be independently assessed across a range of key criteria including ecology, tree canopy, biodiversity, and walkability. Once the masterplan is complete and submitted for approval, the scorecard is formalised based on proposed outcomes. Projects that meet the NBC criteria will receive either Commended or Exemplary accreditation outcomes, creating a clear benchmark for nature-positive new communities in Australia.&nbsp;</p>

<p>Janis Fischer, Director at Tract and NBC Advisory Council member, said the development of new communities in our suburbs can have a substantial impact on nature and biodiversity.</p>

<p>"By incorporating nature-based design principles at the inception of a project, developers and their design teams can achieve nature positive outcomes that are good for both people and the planet.’’&nbsp;</p>

<p>NBC accredited New Community projects will gain access to NBC branding and marketing tools to help communicate their nature-based credentials to purchasers and the broader market.&nbsp;</p>


Joel Robinson

Nature Based Cities: A new Australian benchmark for developing nature-positive new communities

<p>Apartment buildings are increasingly being designed around how people actually live day to day, not just how they want a building to look.</p>

<p>For buyers, that shift is showing up in practical inclusions that respond to changing habits. Work-from-home spaces, EV charging, wellness amenities, secure bike storage and parcel management are becoming part of the broader apartment conversation, reflecting a move toward buildings that reduce friction in everyday life.</p>

<p>Online shopping has become one of the clearest examples of that change.</p>

<p>Australians spent a record $82.6 billion online in 2025, with nearly one in four retail dollars now spent online. That has made parcel delivery a regular part of apartment living, rather than an occasional inconvenience.</p>

<p>For apartment residents, however, the delivery process can be less straightforward than it is for detached homes. Parcels may be left in lobbies, redirected to Post Offices, missed entirely, or placed under the responsibility of building managers and concierge teams.</p>

<p>That is why secure parcel infrastructure is increasingly being considered alongside more familiar apartment amenities.</p>

<p><iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/-VjjLwoViX0?si=A3k7ws9NX35Uac7_" title="YouTube video player" width="560"></iframe></p>

<p>Australia Post Parcel Lockers offer one way to address the issue. When a parcel arrives, residents receive a notification through the AusPost app or SMS, then collect it using a QR code or one-time PIN. The parcel is kept secure, accessible and removed from common areas.</p>

<p>The broader Parcel Locker network now includes more than 1,500 locations across Australia, positioned at Post Offices, shopping centres, supermarkets, transport hubs and other accessible locations.</p>

<p>For new apartment projects, the relevance is clear. A building’s amenity offering is no longer only about lifestyle spaces, but also about convenience, security and functionality.</p>

<p>As buyer expectations evolve, secure parcel delivery is becoming part of the same design conversation as flexible working, sustainable transport and resident wellbeing.</p>

<p>It is one less thing for residents to worry about, and another example of apartment design adapting to the way Australians now live.</p>


Apartment design is adapting to the way Australians shop

<p>While school holidays and trips to Europe tend to define the winter property market, there's been no cold snap at <a href="https://www.apartments.com.au/new-apartments/the-walden-north-sydney-177-walker-street-north-sydney-nsw-2060">The Walden</a> in North Sydney.</p>

<p>Developer-builder&nbsp;<a href="https://www.apartments.com.au/developers/aland">ALAND</a> sold more than $35 million worth of apartments throughout June, including a $6.8 million apartment that now ranks among the highest apartment sales ever recorded in North Sydney.</p>

<p>SRM Residential agent Ben Stewart said buyer demand throughout June reflected a mix of improving market confidence and longer-term thinking from owner-occupiers.</p>

<p>"We're seeing strong demand from owner-occupiers who are taking a longer-term view," Stewart said.</p>

<p>"Many recognise the opportunity to secure an apartment in an iconic building and premium location while values remain attractive. They may initially lease the property, but the intention is to eventually move in themselves, rather than purchasing purely as an investment."</p>

<p>[smartcode_project:default project_id=134323 project_image_fid=367129]</p>

<p>Located at 177 Walker Street, The Walden will deliver 161 one, two, three and four-bedroom residences across a 30-storey tower designed by Rothelowman. Every apartment occupies a corner position, maximising natural light, cross ventilation and views across Sydney Harbour, the Opera House, Sydney Heads and the northern districts.</p>

<p>Rather than a traditional balcony, the residences feature winter gardens that seamlessly extend the open plan living areas, creating versatile spaces for relaxing or entertaining throughout the year. Floor-to-ceiling glazing draws in natural light while showcasing sweeping views from the building's elevated Walker Street position.</p>

<p>Every apartment features high-end Calacatta marble, bespoke joinery, and fully integrated appliances.</p>

<p>The larger residences have been planned with distinct entertaining and private zones, with many master suites positioned on corners to capture natural light and harbour views. Walk-in dressing rooms, freestanding baths and refined stone finishes reinforce the house-like feel that has resonated with downsizers and owner-occupiers.</p>

<p>[smartcode_project:default project_id=134323 project_image_fid=6393]</p>

<p>Rothelowman Principal Ben Pomroy said the project was designed to make the most of its unique position overlooking the harbour.</p>

<p>"The Walden is a celebration of all things beautiful, curated for those who expect nothing less than exceptional," Pomroy says.</p>

<p>"Meticulously designed entertaining spaces and light-filled living areas that capitalise on capturing the natural beauty of Sydney's iconic harbour."</p>

<p>Residents will also have exclusive access to The Pavilion, a dedicated amenity building featuring a rooftop pool, wellness studio, gymnasium, sauna, concierge service, residents' lounge, private dining spaces and work-from-home facilities.</p>

<p>[smartcode_project:default project_id=134323 project_image_fid=6402]</p>

<p>The project marks ALAND's first major luxury apartment development in Sydney's inner-city market after more than two decades delivering residential communities across Greater Sydney.</p>

<p>Founder and CEO Andrew Hrsto previously said the rarity of the Walker Street site made it an opportunity the company could not overlook.</p>

<p>"This is a rare opportunity to bring a truly exceptional project to life in one of Sydney's most iconic locations, and to showcase our craftsmanship and design expertise at a world-class level," Hrsto said.</p>

<p>[smartcode_project:default project_id=134323 project_image_fid=6383]</p>

<p>The Walden has been introduced to the market at a time when demand for living in North Sydney is at an all-time high. Billions of dollars have been invested in infrastructure, including the recently opened Victoria Cross Metro station, located just 300 metres from The Walden, providing residents with direct access to the Sydney CBD in just minutes.</p>

<p>Private investment has also transformed the area through the arrival of new retail and dining destinations, elevating the lifestyle offering in what was once considered primarily a commercial precinct rather than an aspirational residential address.</p>

<p>The Walden is currently under construction and is scheduled for completion in 2028.</p>

<p>[smartcode_project_cta:default project_id=134323]</p>


ALAND records $35 million in sales in North Sydney as The Walden bucks quiet winter selling season

<p>The long-awaited redevelopment of the former Eastlakes Shopping Centre site has reached a major milestone, with Conquest's plans for a new mixed-use precinct officially placed on public exhibition.</p>

<p>The State Significant Development Application would transform the 1.7-hectare site at <a href="https://www.apartments.com.au/new-apartments/19a-evans-avenue-eastlakes-nsw-2018">19A Evans Avenue</a> into one of Sydney's largest urban renewal projects, delivering 736 apartments above a new shopping centre anchored by Woolworths, alongside specialty retail, dining, commercial space and new public open spaces.</p>

<p>The public exhibition marks the next chapter for the project after <a href="https://www.apartments.com.au/developers/conquest">Conquest</a> acquired the stalled Stage Two development from Crown Group, who completed the first stage across the road prior to their voluntary liquidation.</p>

<p><img alt="First look: Conquest unveils plans for 736-home Eastlakes Shopping Centre redevelopment" data-entity-type="file" data-entity-uuid="5fca22c5-d1ed-4e2c-8801-03f7df1eafc8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/eastland%20podium.png?VersionId=uomwr41nF8CmLUZRDcu3mHQechlbxucS" /></p>

<p>&nbsp;</p>

<p>Designed by DKO Architecture, the proposal comprises four residential buildings ranging from 14 to 18 storeys above a two-level retail podium. The development would deliver 736 apartments, including 74 affordable homes, 215 Build-to-Rent apartments and 521 market residences. Provision has also been made for dual-key apartments, which could increase the total number of dwellings to 877.</p>

<p>At ground level, the shopping centre has been designed as the suburb's new meeting place, anchored by a full-line Woolworths and complemented by a curated mix of fresh food retailers, cafés, restaurants, health services and everyday convenience shopping. Generous pedestrian links and landscaped public spaces will connect the retail precinct through to Jack Mundey Reserve, creating a more walkable and connected neighbourhood.</p>

<p>Conquest CEO Michael Akkawi said the redevelopment was about far more than replacing a shopping centre.</p>

<p>"Eastlakes has been overlooked for too long, and this is the community’s moment. We are building a shopping centre and homes, a genuine heart for the suburb, and we genuinely want locals to help shape it."</p>

<p>"We enrich communities through the creation of homes, places, and experiences designed for life, built to last, and owner for generations. That starts with listening, so we warmly encourage everyone with a connection to Eastlakes to view the plans and share their thoughts."</p>

<p><img alt="First look: Conquest unveils plans for 736-home Eastlakes Shopping Centre redevelopment" data-entity-type="file" data-entity-uuid="22f6fb20-54fb-4bd7-8a92-48fafdd00608" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/eastland.png?VersionId=cugp7s9hrMHGJJdYzkeAkrFoQgnF4GXf" /></p>

<p>DKO said the design had been shaped by the site's landscape setting and surrounding open space.</p>

<p>"Our vision for the site embraces its unique Bidjigal identity by blending the residential living with generous landscaping and a material palette inspired by the Bidjigal locality, and celebrating the panoramic views to Botany Bay and the wetlands reserves."</p>

<p>"Taking cues from Country, we seek to harmonise built form with the landscape and lightly touch the earth. By reconnecting, retaining and regenerating existing ecology, and weaving in natural elements, we can deepen our connection to Country."</p>

<p>The landscape strategy extends across the podium and rooftops, incorporating communal gardens, children's play areas, lawns, community gardens, family gathering spaces and extensive tree planting. New landscaped links will also strengthen the connection between the precinct and Jack Mundey Reserve, while publicly accessible open spaces have been integrated throughout the development.</p>

<p>The proposal builds on Conquest's broader placemaking strategy for the site. Through an ongoing partnership, local artist Joe Rashbrook has been appointed Urban Art Curator, working alongside young residents to transform the project's site hoardings into a public art gallery that allows the community to engage with the redevelopment before construction is complete.</p>

<p>Conquest has rapidly expanded its development pipeline since acquiring the Eastlakes site, with more than $6 billion worth of mixed-use projects now in planning across Sydney, including Stanmore, Castlecrag and Waterloo.</p>


Conquest CEO Michael Akkawi said the redevelopment was about far more than replacing a shopping centre.

First look: ‘Far more than replacing a shopping centre’ as Conquest unveils 736-home Eastlakes redevelopment

<p>Abadeen has lodged a State Significant Development Application (SSDA) for one of Mosman's largest apartment developments in recent years, seeking approval to transform the former Honeysuckle Garden and Midas site on Military Road into a 100-apartment mixed-use development.</p>

<p>The SSDA, lodged with investment partner Phoenix Property Investors, proposes around $230 million worth of new housing on the prominent <a href="https://www.apartments.com.au/new-apartments/494-516-military-road-mosman-nsw-2088">494-516 Military Road</a> site.</p>

<p>The proposal comes as Mosman Council continues to progress its recently endorsed Masterplan, which identifies the precinct for increased housing density while maintaining the suburb's established character.</p>

<p>Designed by DKO Architecture, the development would comprise 100 apartments above ground-floor retail, with a rooftop wellness precinct including a gym, sauna, entertaining areas and landscaped communal spaces.</p>

<p>Rather than pushing to the full 12-storey height identified in Council's Masterplan, the proposal ranges between five and nine storeys, stepping down towards Hale Road. A tenth level would accommodate resident amenities rather than additional apartments.</p>

<p>The project has been designed to appeal to a broad range of buyers, from first home buyers and young professionals through to families and local downsizers looking to remain on the Lower North Shore.</p>

<p><img alt="Mosman" data-entity-type="file" data-entity-uuid="5dada03f-5b4c-43ba-ba62-2868add31440" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-27%20at%209.57.55%E2%80%AFAM.png?VersionId=7LBy0B.Jo8_iWAFJsClcV7Q3UnXrv49r" /></p>

<p>Abadeen Executive Chairman Justin Brown said the apartments had been designed as genuine long-term homes rather than investor-focused stock.</p>

<p>"The apartments have been designed as genuine long-term homes, with efficient floorplans that maximise usable living areas, generous storage, natural light and strong connections between indoor and outdoor spaces," Brown says."</p>

<p>"We've focused on creating homes for a broad range of buyers, from first home buyers and growing families through to downsizers who want to remain in Mosman."</p>

<p>The rooftop wellness offering forms a key part of the proposal, with residents set to have access to a gym, sauna, outdoor entertaining spaces, communal dining areas, landscaped gardens and a multi-use recreation court overlooking Sydney Harbour.</p>

<p><img alt="Mosman" data-entity-type="file" data-entity-uuid="d37c2d6b-583a-4a0f-b7a9-9f46b893d2f4" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-27%20at%209.58.06%E2%80%AFAM.png?VersionId=FPoa5FCm2RtzjhAh2w5FTWJbV6GHfY8D" /></p>

<p>DKO drew heavily on the site's natural and cultural history, undertaking a Connecting with Country process with local Aboriginal Elders to inform the architectural and landscape design.</p>

<p>Senior Associate Matthew Ritchard said the design sought to create a building that responded to both the site's landscape and its cultural significance.</p>

<p>"The architectural language of the project is a deep expression of Connecting with Country, where the materiality and colour palette serve as a bridge between the site's geological history and its future as a residential sanctuary."</p>

<p>The proposal also retains the site's established blue gum tree as the centrepiece of the communal landscaped gardens, while introducing activated retail fronting Military Road to strengthen the connection between Mosman and Cremorne villages.</p>

<p>If approved, the project would deliver 100 new homes within walking distance of shops, public transport, schools and local amenities, adding to the limited pipeline of new apartments on the Lower North Shore.</p>

<h2>Project Snapshot</h2>

<p><strong>Project:</strong> Honeysuckle Garden Redevelopment</p>

<p><strong>Address:</strong> 494-516 Military Road, Mosman</p>

<p><strong>Developer:</strong> Abadeen and Phoenix Property Investors</p>

<p><strong>Architect:</strong> DKO Architecture</p>

<p><strong>Lead Architect:</strong> Matthew Ritchard</p>

<p><strong>Value:</strong> $230 million</p>

<p><strong>Residences:</strong> 100 apartments</p>

<p><strong>Key features:</strong></p>

<ul>
	<li>
	<p>Ground-floor retail</p>
	</li>
	<li>
	<p>Rooftop wellness precinct</p>
	</li>
	<li>
	<p>Gym and sauna</p>
	</li>
	<li>
	<p>Outdoor entertaining and BBQ areas</p>
	</li>
	<li>
	<p>Landscaped communal gardens</p>
	</li>
	<li>
	<p>Multi-use recreation court</p>
	</li>
	<li>
	<p>Retained mature blue gum tree</p>
	</li>
	<li>
	<p>Connecting with Country design process</p>
	</li>
	<li>
	<p>Harbour, CBD and Balmoral views from upper-level apartments</p>
	</li>
</ul>


Abadeen Executive Chairman Justin Brown said the apartments had been designed as genuine long-term homes rather than investor-focused stock

Jonathan Chancellor

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