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More than $6.5 million is expected when the Cecil family auction their Toorak family home next weekend.
The <a href="https://www.realestate.com.au/property-house-vic-toorak-122376258" target="_blank">10 Cole Court</a> two-storey, three bedroom house sits on a 1047 square metre block.
It will be auctioned by RT Edgar agents Warwick Anderson and Ada Taylor.
The Cecil family are fourth generation owners of menswear retailer Henry Bucks
The home was converted in the 1950s by Sir Roy Grounds out of stables for the now razed Southdean estate.
Toorak's median house price is $3,510,000 according to CoreLogic RP Data.
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jchancellor-FAypfDUnLy

Southdean, Toorak stables conversion listed for auction 

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Developer Jeff Xu's Golden Age sold of the second stage of its Sky One residential project in Box Hill.
It sold more than $80 million worth of apartments on Saturday.
Last month at the launch for Sky One Box Hill some 85 percent of the apartments on offer sold for $140million.
Thousands came through the display suite which had to be kept open for several extra hours on both days to cope.
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Golden Age secure $80 million in Sky One apartments off the plan

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<div>GUEST OBSERVER</div>
<div> </div>
<div>What’s happening with the residential apartment market in Melbourne today? There appears to be a lot of concern regarding oversupply of unit stock with localities such as the city centre, Docklands and Southbank predominantly under the spotlight. </div>
<div> </div>
<div>Another concern appears to be the quality and aesthetic appeal of new developments, or rather lack thereof.</div>
<div> This morning I read that the Victorian Government will legislate new measures to control Melbourne’s future apartment developments by introducing restricted controls on setbacks, building height and space between neighbouring buildings. </div>
<div> </div>
<div>
The plot ratio of all new developments is to be lowered from the previous 24:1 to 18:1. For those not familiar with plot ratios, it basically means that any new development can’t exceed a total floor space 18 times the size of the site it’s proposed to be constructed on. These controls coincide with a time where Melbourne leads the nation’s count of new high-rise buildings both under construction and in the pipeline (111). Furthermore, concern has also been raised regarding the provision of ventilation and natural light as well as apartment size in Victoria, where no minimum size requirements have previously seen some developments offer apartments as small as 24 square metres. It is proposed that Victoria follow New South Wales’s existing building standards that state one-bed apartments in Sydney must be at least 50 m2 in size. Some may argue that these measures may decrease affordability for the Melbourne apartment market, however, they may also see an introduction of stock that is more tailored to owner occupiers rather than investors, which may not only decrease vacancy but also be easier to sell due to the market favouring owner occupiers as a result of APRA implementing its strict measures on investor lending late last year. Arguably, future apartments may also have a better resale figure down the line if the ratio of owner occupiers in a development outweighed investors. Another measure to be introduced for Victoria is the increase in tax for foreign purchasers of residential property from the existing 3% to 7%. The new measure will be introduced in this week’s state budget and aims to raise local revenue and ensure that foreign purchasers who experience capital growth in Victoria contribute to the state. This may also slow the rate of foreign investment to combat affordability for Australian residents whilst also decreasing vacancy rates from offshore purchasers who wish to park their money in investment properties that may lay dormant. Vacancy rates are considered to be one of the best indicators of a market oversupply, however, amongst all the chat and hype of a potential oversupply has anyone really looked at the vacancy rate figures for these localities? As stated in last week’s newsletter, SQM Research data shows that vacancy rates for Melbourne have actually been in a downtrend since 2014 and are now below 2%. Those main areas of concern, CBD, Docklands and Southbank, show that the numbers have actually been falling to levels below their long term average. I’m not saying that Melbourne’s apartment market won’t be subjected to an oversupply in coming years, I’m not saying it will either, however, if I were asked to comment on whether or not Melbourne is currently over supplied, I would have to say no as the vacancy figures continue to show that the absorption rate of new product placed on the market continues to be steady. <a href="/images/2016/05/03/historicalvacancyratesmel.png" target="_blank">Click to enlarge</a>
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<div>
<img src="/images/2016/05/03/historicalvacancyratesmel.png" alt=""> source: <a href="https://www.sqmresearch.com.au/" target="_blank">www.sqmresearch.com.au</a>  </div>
<div>Luca Simms is senior investment analyst at SQM Research and can be contacted <a href="https://www.sqmresearch.com.au" target="_blank">here</a>.</div>
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Current oversupply in Melbourne? SQM's Luca Simms

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<img src="https://counter.theconversation.edu.au/content/57114/count.gif" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
The sky is blue and you are walking through a park, speaking with a colleague, discussing a new project. You feel energised, puffing slightly as your pace speeds up with the excitement of tossing around ideas as you walk among the trees.
This is how the Nature Conservancy envisages you may spend an hour of your working week this week. April 18-24 is Work with Nature Week, a campaign to encourage Australians to engage with the natural environment. The hope is that you will come to appreciate nature – if you don’t already – and support conservation efforts.
Nature, according to the campaign, can improve your concentration and make you a sharper and more creative thinker. What boss wouldn’t want their employees to “work with nature”?
The health and ecology research literature brims with examples of the positive effects of nature on well-being. Exposure to nature helps us recover from stress and mental fatigue and restores concentration. Lower blood pressure, improved concentration and more positive emotions are identified when people go for a walk in a natural environment compared with an urban environment.
Attention Restoration Theory (ART) explains that restoration requires a different experience – such as “getting away” – in an environment that is together interesting, non-threatening and realistic. If you have spent your morning in a meeting room or office, a park with trees and perhaps a pond or fountain is about as different as you can get.
<h2>Finding nature in the heart of the city</h2>
If you work in the middle of the city, how practical is it to spend an hour of your working week surrounded by roads and concrete, pollution and the occasional rat? Even if you can go and sit among the pigeons for an hour, how “natural” is that experience of nature?
Urban ecologists have realigned thinking about nature in cities. Cities are novel environments that have the potential to support surprising amounts of nature. Parks, surrounding national parks, street trees and even private gardens create a large-scale urban forest that wildlife can use.
For example, in Sydney vulnerable Powerful Owls have been sighted in the Royal Botanic Gardens in the middle of the city. Australian cities have even been found to act as hotspots for threatened species.
Conserving any local native areas and species is important to maintain the unique natural identity of a city. In addition, manicured parks and gardens provide new kinds of plants with the potential to support both local and native species. Nature is dispersed through our cities, even if we don’t notice it.
<h2>What supports well-being in cities?</h2>
We have published research that identified the aspects of urban environments that support human well-being. Being able to move safely around a city (walkable space) and enabling space for social interaction are known factors of good urban design. Green space is another factor that, for the reasons discussed above, is important to ensure we can survive in cities.
We add biodiversity and ecosystem services to the equation as both are necessary if we are also to thrive in cities. Without sufficient biodiversity, the nature we encounter may not be realistic enough for a successful restorative experience, according to ART. Biodiversity can also keep species in check – for example, reducing the numbers of animal vectors of disease such as mosquitos and ticks.
Ecosystem services are critical to our survival. More than the air we breathe and the water we drink, when ecosystems fail, this has serious consequences for human well-being. Environmental degradation has been found to affect people who work in rural environments, but cities are already degraded landscapes. Urban nature has never been more important.
If you are considering how to spend an hour working in nature this week but your calendar is hectic and you are facing a wall of meetings, don’t despair. You could even benefit from nature just by glancing at it. In a recent Australian study, a glance at a green roof has been found to be more restorative than a glance at a concrete roof.
Working with nature is not limited to sitting in a lush garden with your laptop. A walking meeting through a landscaped area, which would provide the added benefits of exercise, or even a glance at a natural view might help you to recover from your day’s stress.
The Work with Nature campaign has another function: to remind decision-makers that we need nature in our cities. There are many forms it might take. An atrium or view from your office has the potential to help you function more effectively at work, but a large inner-city park offers us the realistic green space that provides the full benefits of nature.
Lucy Taylor is doctoral candidate in Urban Ecology, University of Sydney, and can be contacted <a href="https://theconversation.com/profiles/lucy-taylor-112010" target="_blank">here</a>.
Dieter Hochuli is associate professor, School of Biological Sciences, University of Sydney and can be contacted <a href="https://theconversation.com/profiles/dieter-hochuli-135191" target="_blank">here</a>.
Both are authors for The Conversation.
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Reducing stress at work is a walk in the park

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The penthouse at Darnley Hall, Elizabeth Bay has been listed by Paul Longmuir and his wife Elain Wei Ah Kwan with $10 million hopes.
<a href="https://www.realestate.com.au/property-apartment-nsw-elizabeth+bay-122542006" target="_blank">The international style penthouse</a> last sold six years ago for $8.1 million. It was one of the homes where the former Treasurer Joe Hockey signalled forced divestment, after the owners came forward in the recent amnesty on supposed purchases that breached our FIRB laws. 
The Longmuirs have spent $16 million buying in Bellevue Hill, fully complying with foreign investment rules, and it seems their initial purchase has now been signed off as ridgy didge too. 
The penthouse renovation was overseen by the interior designer Tonka Andjelkovic.
This article was first published in the Saturday Daily Telegraph.
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Darnley Hall, Elizabeth Bay penthouse hits the market

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CoreLogic RP Data's Tim Lawless has noted the mature nature of the Sydney unit market has actually seen houses underperform compared to units, with growth of 8.4 percent and 11.5 percent respectively over the past twelve months.
It is this strong performance from the Sydney unit market which is largely driving the higher growth rate across the combined capitals average.
“This growth differential can likely be explained by the higher supply levels of units in the inner city markets of Melbourne and Brisbane,” he added.
CoreLogic’s latest Settlement Risk report shows approximately 31,000 apartments are due to settle across Melbourne’s inner city region over the next 24 months, while Inner Brisbane has almost 17,500 units due to settle over the next two years.
According to CoreLogic research analysts, settlement risk implies that units sold off the plan could show a valuation at the time of settlement that is lower than the contract price, creating the risk for developers that contracted buyers may look to seek ways in which to avoid completing the contract to purchase the property.
Buyers of the off the plan units who find their valuation at the time of settlement is lower than the contract price may face a higher than expected financial outlay as lenders seek to ensure an 80% loan to valuation ratio.
"This risk may have been exacerbated in recent weeks with three of the big four banks reportedly limiting the extent to which they are willing to lend to non-residents," Lawless suggests.
"Of course non-residents are a material segment of persons buying new units off the plan."
CoreLogic reported rental markets have continued along their soft path, with capital city rents holding steady over the month, but down 0.2 percent compared with a year ago.
As welling rents are broadly flat at a time when dwelling values continue to rise, rental yields are lower.
The gross rental yield for capital city dwellings pushed to a new record low of 3.4 percent in April, while Melbourne’s gross yield profile is even lower, averaging 3.0 percent.
“The low yield profile across Australia’s two largest cities, which are also the cities that attract the largest investment demand, suggests that most recent investors, despite the low mortgage rate settings, are likely to be utilising a negative gearing strategy to offset their cash flow losses against their taxable income.
"Buyer demand continues to be supported by mortgage rates that are close to historic lows, as well as high levels of investment demand. Even though investor demand has eased since May last year, investors still comprise approximately 46 percent of all new mortgage commitments.
"With the likelihood of interest rate increases in the foreseeable future almost non-existent due to the negative March quarter inflation reading, buyer demand is likely to remain high for housing. Similarly, as long as taxation policy continues to support investment in the housing market, we are likely to see investors remain as a substantial component of housing demand due to the lacklustre returns evident in other asset classes such as cash, bonds and equities,” Mr Lawless said.
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Sydney's reduced settlement risk V Melbourne and Brisbane: Tim Lawless

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ANZ Bank is the only big four bank that will not pass on the Reserve Bank's 0.25 percentage point reduction in official interest rates to home loan customers, blaming the decision on higher funding costs.
ANZ Bank will instead reduce its home loan rates by 0.19 of a percentage point, with its benchmark rate for owner-occupiers falling to 5.37 per cent.
ANZ's move came after National Australia Bank, Westpac, Commonwealth Bank and Bank of Queensland said they would pass on the full RBA cut to their home loan customers.
ANZ posted a 24 per cent slump in profit and cut its dividend on Tuesday.
It suggested its decision struck the right balance between the interests of customers and shareholders. 
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ANZ say just 0.19pp will be passed on to borrowers

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CommBank is reducing the interest rate on its SVR home loan account by 0.25% p.a., effective Friday, 20 May.
It's new SVR is 5.35% p.a.
The bank joined the NAB and Westpac in makiny announcements confirming the full rate cut. 
Just the ANZ, of the big four, refrained from any same day business hours announcement.
National Australia Bank was first to cut the interest rate on its standard variable home loan rate by 25 basis points this afternoon.
It is the full amount of the RBA's cut.
This announcement means NAB’s Variable Rate for Home Loans (Standard Variable Rate) will reduce from 5.60 percent p.a. to 5.35 percent p.a.
NAB customers with a Standard Variable Rate home loan will save an average of $47-a-month on their monthly home loan principal and interest repayments based on a $300,000 loan over a 30-year term.
NAB Group Executive Personal Banking Gavin Slater said in making the decision to change interest rates, the bank considers a range of factors.
“The circumstances of each decision will always vary and we must take into account factors such as competition, regulatory capital requirements and funding costs,” Mr Slater said. 
“Today’s decision balances the needs of our home loan customers with our shareholders.” 
Today’s change applies to Owner Occupier and Residential Investment variable rate home loans.
·         For owner occupiers with NAB’s Variable Rate for Home Loans (Standard Variable Rate) the rate will reduce from 5.60 percent p.a. to 5.35 percent p.a.
·         For residential investors with NAB’s Variable Rate for Residential Investment Home Loans the rate will reduce from 5.75 percent p.a. to 5.50 percent p.a.
NAB will also reduce its rate on standard variable business rate lending products by 0.25 percent p.a. 
The new rates will be effective from Monday 16 May 2016.
 
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Commonwealth Bank joins NAB and Westpac in passing on entire RBA rate cut

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Westpac has follow NAB to pass on the full May 2016 rate cut.
National Australia Bank was first to cut the interest rate on its standard variable home loan rate by 25 basis points this afternoon.
It is the full amount of the RBA's cut.
This announcement means NAB’s Variable Rate for Home Loans (Standard Variable Rate) will reduce from 5.60 percent p.a. to 5.35 percent p.a.
NAB customers with a Standard Variable Rate home loan will save an average of $47-a-month on their monthly home loan principal and interest repayments based on a $300,000 loan over a 30-year term.
NAB Group Executive Personal Banking Gavin Slater said in making the decision to change interest rates, the bank considers a range of factors.
“The circumstances of each decision will always vary and we must take into account factors such as competition, regulatory capital requirements and funding costs,” Mr Slater said. 
“Today’s decision balances the needs of our home loan customers with our shareholders.” 
Today’s change applies to Owner Occupier and Residential Investment variable rate home loans.
·         For owner occupiers with NAB’s Variable Rate for Home Loans (Standard Variable Rate) the rate will reduce from 5.60 percent p.a. to 5.35 percent p.a.
·         For residential investors with NAB’s Variable Rate for Residential Investment Home Loans the rate will reduce from 5.75 percent p.a. to 5.50 percent p.a.
NAB will also reduce its rate on standard variable business rate lending products by 0.25 percent p.a. 
The new rates will be effective from Monday 16 May 2016.
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Westpac follow NAB with full May 2016 rate cut

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GUEST OBSERVER
The RBA cut its cash rate by 25bps to a new record low of 1.75 percent, as we expected. 
Market pricing was 45:55 just prior to the meeting and 12 of 27 economists in the Bloomberg survey expected a cut. The motivation for the cut was the sharply lower than expected Q1 CPI print.
The RBA remained generally upbeat about the rebalancing of the economy, although they suggested that growth would probably run at a 'more moderate pace' this year. In short, although growth is solid, it has been insufficient to keep inflation on target. Continued low global inflation and rates also contributed to today's decision to cut. Given the extent of the downside surprise on Q1 CPI inflation we expect that the RBA will need to follow up with a further cut (pencilled in for Q3). Importantly, today's cut is likely to make any further monetary policy moves unlikely before the 2 July election.
Facts
The RBA cut its cash rate by 25bps to 1.75 percent, as expected by 12 of 27 economists in the Bloomberg survey (including HSBC). Immediately prior to the announcement the market was pricing in a 45 percent chance of a cut.
Implications
The RBA has, for some time now, been reluctant to consider cutting its cash rate further. But last week's sharply weaker than expected Q1 CPI print clearly changed that view. Today's cut reflects that inflationary pressures are materially weaker than expected.
Although growth remains solid, which has supported business conditions and seen the unemployment rate edge lower, it has been insufficient to lift inflation. This partly reflects that the rebalancing of growth following the mining investment boom has seen growth run at a below trend pace for three years so far. Today's statement also suggested that the RBA sees growth moderating a little in 2016. As the central bank noted in today’s statement, growth ‘is continuing in 2016, though probably at a more moderate pace’. And despite the lower unemployment rate, ‘labour market indicators have been more mixed of late.’ This may reflect the fact that the most recent declines in unemployment have had as much to do with lower participation as job gains.
The RBA also noted that risks from the housing market have abated over the past year. In our view, the booming housing market was a factor that contributed to keeping the RBA on hold late last year, even though the Q3 CPI print was also on the low side. Tightened lending standards and slower house price inflation have helped to allow the RBA room to lower rates further, without the risk of overinflating the housing market.
Low global inflation and interest rates were also a contributor to today's decision to cut. Last week's very low Q1 CPI print provides some evidence that Australia is finally being sucked into the centre of gravity of the low global rates and inflation environment. With this in mind, today's cut was needed to ensure that the AUD did not rise significantly from here, which could have weighed further on growth and inflation.
Cutting today, rather than waiting, also has the added advantage that a further RBA move prior to or just after the 2 July election is now unlikely, which helps to keep the central bank out of the way of the political process.
Nonetheless, given the scale of the downside surprise to Q1 inflation, and the continued low global inflation environment, we doubt that today's rate cut will be enough to get underlying inflation back on track. We expect the RBA may need to deliver a further 25bp cut in Q3, probably in August, following the Q2 CPI print.
Paul Bloxham is chief economist (ANZ) for HSBC. Daniel Smith is economist. They can be contacted <a href="https://www.about.hsbc.com.au/hsbc-in-australia/management-team" target="_blank">here</a>.
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Interest rate cut delivered, expect another in Q3: HSBC's Paul Bloxham

An entity directed by HSN's Rafi Assouline and Rebel Property's Allen Linz has filed plans for an impressive new precinct in Woolloomooloo.

The major mixed-use development would transform a prominent William Street site into a new residential village anchored by affordable housing and a large public park.

The proposal, submitted as a State Significant Development Application, covers 164-172 and 174-194 William Street, a 6,398 sqm site between Forbes Street and Dowling Street on the southern edge of Woolloomooloo.

Designed by fjcstudio in collaboration with Bangawarra, Studio Bright and Tribe Studio Architects, the scheme would deliver 227 apartments across four residential buildings ranging in height up to 18 storeys, alongside retail space, public domain improvements and a new publicly accessible park.

<img alt="Rebel" data-entity-type="file" data-entity-uuid="0eb59b7c-914a-4a5c-b849-3a56749f5e93" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.18.51%E2%80%AFAM.png?VersionId=mxM6EEqeoLjrCiTlCzTKTvzpKuh6kSkH" />

It's another design scheme for Rebel, who took <a href="https://www.apartments.com.au/news/nsw/first-look-rebel-property-group-takes-woolloomooloo-precinct-to-nsw-government">concept plans to the NSW Gov late last year</a>.

The latest plans will be a mix of 167 build-to-sell apartments and 60 affordable apartments, with the affordable housing component representing 15 per cent of the project's gross floor area. The apartment mix includes 12 one-bedroom, 53 two-bedroom, 89 three-bedroom apartments and 13 penthouses, while the affordable housing component would comprise 42 one-bedroom and 18 two-bedroom apartments.

<img alt="Rebel" data-entity-type="file" data-entity-uuid="3b3d4553-8a8c-4af5-aa8c-519ffb1e28c6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.20.12%E2%80%AFAM.png?VersionId=_Yb6ibN7eDnOtQjCNDK2eviORa4qzgv." />

Rebel Property is seeking to take advantage of the NSW Government's infill affordable housing bonus provisions under the Housing SEPP, which provide additional floor space and height in exchange for the delivery of affordable housing for a minimum of 15 years. The planning pathway allows a 30 per cent increase in floor space ratio and building height where 15 per cent of the development is dedicated to affordable housing.

&nbsp;

At the centre of the development is a 1,356 sqm sunlit public park designed to become a new community gathering space at the gateway to Woolloomooloo. The park would be complemented by a network of pedestrian laneways connecting William Street with the surrounding streets, improving permeability through what is currently a largely impermeable block.

<img alt="Rebel" data-entity-type="file" data-entity-uuid="257af931-a393-4007-8c6d-7219796df58d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.20.51%E2%80%AFAM.png?VersionId=KAHy94GrhaReFsWTGDKfy39EDJ8gEEv4" />

The design team says the public domain has been heavily influenced by the site's topography and Aboriginal cultural heritage, drawing on the escarpments, gullies and landscape characteristics that historically defined the area before urbanisation. The landscape design has been developed in partnership with First Nations consultancy Bangawarra.

The project would be delivered across four separate buildings. The William Street East and William Street West buildings, designed by fjcstudio, would contain the majority of the apartments. Melbourne-based Studio Bright has designed the Forbes Street building, while Tribe Studio Architects is responsible for the Dowling Street building.

Rebel had secured approval for the concept plans late last year.

Joel Robinson

First look: HSN, Rebel, advances Woolloomooloo precinct plans

A locally heritage-listed furniture showroom on Water Street is set to become the centrepiece of a new mixed-use residential development as local developer&nbsp;<a href="https://www.apartments.com.au/developers/keylin-group">Keylin</a> seeks approval for <a href="https://www.apartments.com.au/new-apartments/lotus-on-water-street-290-water-street-fortitude-valley-qld-4006">Lotus on Water Street</a>, a 15-storey project on the Fortitude Valley side of Spring Hill.

The proposal spans 290 Water Street and 137-141 Warry Street, combining several properties into a 2,869 sqm site that sits between Fortitude Valley, Spring Hill and the rapidly evolving Victoria Park precinct. Keylin's plans would deliver 132 apartments alongside new retail, hospitality and commercial space, while retaining and repurposing the historic Brunswick Home Furnishers Showroom that fronts Water Street.

Designed by <a href="https://www.apartments.com.au/architects/jackson-teece">Jackson Teece</a>, Lotus on Water Street comprises a 12-storey residential tower rising above a three-storey podium and communal rooftop terrace. The development includes 76 apartments classified as multiple dwellings and a further 56 units proposed as short-term accommodation, designed to be flexibly used as either accommodation or permanent residences. The apartment mix comprises six one-bedroom, 54 two-bedroom and 16 three-bedroom homes.

<img alt="First look: Keylin unveils heritage-led Lotus on Water Street tower in Fortitude Valley" data-entity-type="file" data-entity-uuid="9822bb79-6c49-49c9-95ba-319e8c8d81c3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/fortitude%20valley%20front.png?VersionId=ioW8zbN4UVebbLetTFuv92t.HkdgfR5e" />

Residents would have access to an extensive rooftop recreation level spanning more than 1,200 sqm of communal open space. Plans include a pool, gym, sauna, infrared sauna, yoga area, library, private dining room, barbecue facilities and landscaped entertainment spaces, making the rooftop the project's largest shared amenity offering.

At street level, the proposal focuses on the adaptive reuse of the heritage buildings along Water Street, where 518 sqm of retail and commercial space is planned across shop, office and food and drink outlet uses. A permeable residential lobby would be positioned between the retained heritage buildings, creating a pedestrian connection between the historic streetscape and the new tower behind.

<img alt="First look: Keylin unveils heritage-led Lotus on Water Street tower in Fortitude Valley" data-entity-type="file" data-entity-uuid="269cf3e0-7d13-48bf-a318-05a00deb5c10" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/fortitude%20valley%20podium.png?VersionId=DLXmTCLsp6GOcLpQ0h.0z7wKCw59EhN_" />

The heritage retention strategy is central to the scheme. The development application notes that the Brunswick Home Furnishers Showroom and adjoining heritage buildings will remain, with only non-significant structures on the site earmarked for removal under a previously issued Heritage Exemption Certificate. Levels one and two of the new podium are recessed behind the heritage façades to maintain their prominence within the streetscape.

Jackson Teece has drawn inspiration from the site's manufacturing history when designing the podium. The planning documents state that the façade incorporates perforated metal screening that references the woven and rattan furniture historically produced on the site. Cascading and climbing plants are integrated throughout the podium to soften the building's presentation and screen parking levels behind. The landscape strategy also informs the project's name, Lotus on Water Street, drawing on the historic Spring Hollow waterholes that once ran through Spring Hill and the blue water lilies associated with Meeanjin, Brisbane's traditional name.

The proposal also incorporates the neighbouring property at 141 Warry Street, currently occupied by a healthcare service. The existing building would remain, with nine dedicated parking spaces allocated within the new development to support its ongoing operation. In total, Lotus on Water Street proposes 117 car spaces, including 110 resident spaces and seven visitor bays, alongside 100 bicycle spaces.

<img alt="First look: Keylin unveils heritage-led Lotus on Water Street tower in Fortitude Valley" data-entity-type="file" data-entity-uuid="70cf07bc-4fd8-4e70-92dd-be8b21c4e4f0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/fortitude%20valley%20site.png?VersionId=txlxrJImM0Sm_vTzHVKh5DDUkyL_CiiA" />

The site sits within the Spring Hill East Precinct of the Spring Hill Neighbourhood Plan and is positioned around 650 metres from both Fortitude Valley Station and Exhibition Station. It is also within walking distance of the King Street precinct, Royal Brisbane and Women's Hospital, Herston Quarter and Victoria Park, which is earmarked to become a major venue precinct ahead of the Brisbane 2032 Olympic and Paralympic Games.

Planning documents describe the location as a key gateway between Spring Hill and Fortitude Valley and highlight the area's increasing importance as new transport infrastructure and Olympic-related investment reshape Brisbane's inner north. The development team argues the project will contribute additional housing supply while activating a section of Water Street that has historically received less investment than other parts of the Valley.

Keylin has become increasingly active across Brisbane and southeast Queensland, assembling sites in strategic inner-city locations. They are currently selling and delivering <a href="https://www.apartments.com.au/new-apartments/oria-spring-hill-447-gregory-terrace-spring-hill-qld-4000">Oria Spring Hill</a>, just over 140 apartments due for completion in 2027.

Keylin plans heritage-led Lotus on Water Street apartment development in Fortitude Valley

Roseville is poised for a wave of new apartment development following the NSW Government's rezoning of land around Roseville Station under its Transport Oriented Development program.

The new planning controls have unlocked significant development potential within walking distance of the station, with a number of sites expected to be amalgamated and redeveloped in the coming years as developers seek to take advantage of the increased density allowances.

One of the more restrained developments in the precinct, and set among the first to be delivered having commenced well before the recent changes, is Hyecorp's Juliet. The boutique apartment project is already well under construction and remains on track to welcome residents by the end of the year, offering a markedly different proposition to many of the larger-scale developments now likely to emerge across the suburb.

[smartcode_project:default project_id=7395 project_image_fid=278194]

<a href="https://www.apartments.com.au/new-apartments/juliet-roseville-64-pacific-highway-roseville-nsw-2069">Juliet</a> will comprise just&nbsp;34 one-, two-, and three-bedroom apartments opposite Roseville Station. For Hyecorp, which has delivered projects across Sydney's Lower North Shore for more than three decades, Roseville presented a rare opportunity to address a growing gap in the market.

"<a href="https://www.apartments.com.au/developments/roseville-nsw-2069">Roseville</a> has long been one of the North Shore's most tightly held and desirable suburbs, offering a unique combination of village charm, established greenery, excellent transport connections, and proximity to some of Sydney's best schools and lifestyle amenities," Hyecorp said.

"We recognised a growing demand from local homeowners seeking to downsize without leaving the community they have built their lives around. The location presented a rare opportunity to create homes that cater specifically to that buyer profile."

[smartcode_project:default project_id=7395 project_image_fid=278196]

The six-level development has been designed by <a href="https://www.apartments.com.au/architects/pbd-architects">PBD Architects</a> as a collection of residences that feel more like homes than apartments. The brief centred generous floorplans, abundant natural light, quality finishes, and strong connections to outdoor space.

PBD Architects drew inspiration from Roseville's established garden suburb character, creating a building that sits comfortably within its surroundings rather than dominating them. The architecture incorporates natural materials, soft forms, layered landscaping, expansive balconies, and generous setbacks to strengthen the connection between residents and the suburb's leafy environment.

"The focus was on designing spacious, house-like residences for discerning owner-occupiers and downsizers who wanted to remain on the North Shore without compromising on comfort, privacy, or design," PBD said.&nbsp;

"Every apartment was to feel considered, timeless, and highly functional."

[smartcode_project:default project_id=7395 project_image_fid=278195]

Inside, residences feature engineered timber flooring, stone kitchen benchtops and splashbacks, integrated Fisher &amp; Paykel appliances, ducted air conditioning, and large outdoor entertaining areas designed to take advantage of district and treetop views.

Residents will also have access to a rooftop barbecue and lounge area, alongside practical amenities including parcel lockers, EV charging capability, bicycle storage, a dog wash bay, and a basement car wash facility.

The majority of purchasers so far have been local owner-occupiers from Roseville, Lindfield, Chatswood, Killara, and the broader Upper North Shore, many of whom are transitioning from larger family homes.

"Buyers are looking for spacious, house-like apartments that allow them to downsize without feeling like they are sacrificing comfort or functionality," Hyecorp noted.

"They value large kitchens, generous living areas, ample storage, quality finishes, secure parking, lift access, and low-maintenance living."

[smartcode_project:default project_id=7395 project_image_fid=278204]

Juliet sits directly opposite Roseville Train Station and within walking distance of Roseville Village, while Chatswood's retail and dining precinct is only minutes away. The development is also surrounded by some of Sydney's most established schools, including Roseville College, Ravenswood, Pymble Ladies' College, and Knox Grammar, as well as nearby parklands and golf courses.

Juliet is currently more than 75 per cent sold ahead of its anticipated completion in late 2026.

[smartcode_project_cta:default project_id=7395]

Juliet to sit quietly amid Roseville apartment boom

Sherpa Property Group has unveiled the third instalment of its Flourish series, securing full approval for the two-tower, $500 million Flourish Soleira development in Palm Beach.

<a href="https://www.apartments.com.au/new-apartments/flourish-soleira-1150-1154-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> will rise from a prominent site in the commercial heart of Palm Beach, the long-time home of Cash Converters and a range of local retailers.

The project will introduce a new retail and dining precinct at ground level, beneath 286 apartments.

[smartcode_project:default project_id=150017 project_image_fid=370959]

“We’re very committed to not only providing affordable residential offerings that are much needed in Palm Beach, but also delivering a vibrant new commercial heart that complements the extraordinary growth of the southern Gold Coast,” Sherpa Property Group founder Christie Leet said.

The development will sit under Sherpa's Flourish brand, which is aimed at providing a pathway into the beachside suburb for locals, first-home buyers and downsizers. In a move designed to assist first-home buyers entering the market, Sherpa has reserved all one and two-bedroom, one-bathroom apartments exclusively for eligible first-home buyers.

[smartcode_project:default project_id=150017 project_image_fid=370964]

“Our vision through Flourish is to create a vibrant retail and lifestyle focal point within the Palm Beach centre zone, delivering thriving communities underpinned by lifestyle-rich locations,” Leet said.

“So far, Flourish has been an incredible success, and we hope to carry this momentum as we progress the next two Flourish projects in Palm Beach.”

[smartcode_project:default project_id=150017 project_image_fid=371430]

Located across 1150-1164 Gold Coast Highway and 3 Sixth Avenue, the development will comprise two towers. The northern tower will deliver 154 apartments, while the southern tower will add a further 132 residences, helping address ongoing demand for new apartments in the tightly held coastal suburb.

Flourish Soleira will also feature the most extensive rooftop amenity offering ever delivered in Palm Beach.

The two towers will be connected by a skybridge, with residents gaining access to a rooftop recreation deck featuring a full-width swimming pool, hot and cold plunge pools, wellness spaces, a gymnasium, private dining facilities, massage treatment rooms, barbecue areas, a basketball court, golf simulator, indoor and outdoor dining spaces, sun lounges and extensive landscaping.

LPS Group is expected to start construction later this year.

Sherpa is already well advanced on construction of its debut Flourish project, Flourish Amargo, located just around the corner from Soleira. Meanwhile, Flourish Oasis, positioned opposite Amargo, recently commenced construction and has nearly sold out its collection of 47 apartments.

[smartcode_project_cta:default project_id=150017]

Sherpa unveils $500m mixed-use Palm Beach precinct, Flourish Soleira

Are mortgage holders set to get a reprieve from the RBA in 2026?

Big Four bank NAB believes so. They are now expecting the next move from the RBA to be a cut, rather than a hike, which they had pencilled in for August. They are unsure of the timing of the cut however, they note in their latest&nbsp;NAB Economics RBA Watch.

NAB Chief Economist, Dr Sally Auld, said recent data suggests the economy has lost momentum and the outlook for rates has shifted, noting that the broader economic backdrop has changed since earlier in the year.

“The next move in the cash rate is likely to be down, but the timing is uncertain," Dr Auld said.

"In February, growth was above trend, the economy was operating above capacity and there was uncertainty over the restrictiveness of rates. None of these conditions exist today,” she outlined.

Dr Auld said recent data pointed to softer momentum across the economy while acknowledging that at the same time, uncertainty remains a key feature of the outlook.

“Both Q1 GDP data and the NAB business survey suggest momentum in the economy has slowed, meaning that growth has likely peaked for the cycle. That said, we are cognisant there is still considerable uncertainty around the outlook, both with respect to activity and inflation.”

Dr Auld said inflation risks and labour market outcomes would be important to watch.

“On the prices side, we are still forecasting above target core inflation through to mid-2027. Margins will compress and weaker labour market outcomes are a risk.”

She said tighter financial conditions are expected to weigh on housing and activity.

“Tighter financial conditions will be reflected in a slowing in house price growth and housing credit growth. In summary, we have greater conviction that the next move in rates is down, but less conviction on the timing.”

Jonathan Chancellor

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