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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 Andrews Labor Government has decided to reward big-end-of-town developers Leighton Holdings and the money grubbing bean counters at the Uniting Church, by approving the demolition of the historic Princess Mary Club to make way for a 34 level office tower.
Now we know that high profile developers can simply click their fingers and get what they want out of the Andrews Labor Government. Damn the heritage consequences and damn the historical and architectural significance it seems. Planning Minister Richard Wynne’s decision to allow Leighton Holdings and the Uniting Church develop the Princess Mary Club site is a disgrace.
If you donate enough, it seems you get the Premier and Minister’s ear – and in this case their approval.
I have lobbied to save the Princess Mary Club since coming to parliament at the end of 2014.  
The site has been at the centre of a heated heritage discussion for some time. 
Minister for Women Fiona Richardson said earlier this year that the site had “historical and social significance” and would relate development concerns to the Planning Minister saying that it was a “valuable service to women…at a time when there were very few safe places available to them.”
The Princess Mary Club was known as a safe-haven for women.
At a time when this government has committed hundreds of millions of dollars to address the issue of family violence following the recommendations of the Royal Commission, you would have thought that keeping this building as a testament to our commitment to helping women fleeing violence and indeed using the building to help women, not big party donors, would have been a huge statement. It’s just so very, very disappointing.
The Uniting Church should be held to account.
The Uniting Church, which was gifted this building to help the vulnerable in the first place and receive massive tax breaks from the state and federal governments, is in the development game, not the religion game. They are feathering their own nest at the expense of the Victorian taxpayer.
This just goes to prove that the church is more interested in cash flow than helping the vulnerable. Ordinary Victorians, whether of faith or not, should demand that the government make the church pay their fair share of tax – especially when it comes to their number one priority of property development not spiritual development.
Fiona Patten MP, Member for Northern Metropolitan and can be contacted <a href="https://fionapatten.com" target="_blank">here</a>.
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jchancellor-FAypfDUnLy

Property development not spiritual development: MP Fiona Patten

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GUEST OBSERVER
The front-page headlines generated this week by Prime Minister Malcolm Turnbull’s promise to link Australia’s major eastern cities by fast rail may be seen by many voters as yet another major infrastructure pledge made hurriedly in the run-up to a federal election that is likely to evaporate just as quickly afterwards.
Fast intercity rail certainly has form when it comes to being put on the table only to be whipped away again. Linking Australia’s two biggest cities by rail would be in the same nation-building category as the Snowy Mountains Scheme, yet we have been talking about it for decades without actually doing it.
How different might things be now if Australia had built the Very Fast Train (VFT), first proposed in 1984 by the then CSIRO chairman, Paul Wild. The plan (on which I worked) attracted the support of leading companies of the day, including BHP and Elders IXL, but was bogged down in taxation issues and eventually scrapped in 1991.
If it had gone ahead, we would have had an infrastructure capable of shaping the new century for Australia’s densely populated east coast, instead of still waiting for it today.
<h2>The route</h2>
The first choice was a coastal route running from Melbourne through the Latrobe Valley (and what a boost that would have been to a region that even then was struggling with its over-reliance on brown coal), the Gippsland lakes (with a branch line to the mountain resorts), the southern New South Wales coastal towns and into Sydney via Wollongong (a rust-belt city at that time that would also have benefited from this investment).
This was later replaced by an inland route identified by the CSIRO and the VFT consortium, after a series of localised environmental protests. Canberra became one of the designated stations on the inland route and the rest is history – there has never been a return to the original route, despite the fact that more than 90 percent of Australians live near the coast.
<h4><a href="/images/2016/04/19/image-20160413-18122-w2r2vx.png" target="_blank">Click to enlarge</a></h4>
<img src="/images/2016/04/19/image-20160413-18122-w2r2vx.png" alt="">
<h4>
Fast rail route proposed in 1987, after being diverted inland via Canberra. <a class="source" href="https://www.repositoryofideas.com/resources/VFT-route-map-from-June-1987-pre-feasibility-report.pdf" target="_blank">VFT consortium</a>, Author provided
</h4>
<h2>The funding</h2>
Perhaps unsurprisingly, finance was the original project’s downfall. It became a private-sector joint venture in 1987 but collapsed in 1991 when the federal government decided against easing the tax burden on the project’s initial major outlays in return for higher tax overall.
Australian governments have struggled ever since to find ways for public-private partnerships to fund big projects. Until now, perhaps.
This time around, Turnbull has touted the prospect of “value capture”: the financial benefit that the private sector could gain from the boost to urban development around stations – as seen, for example, near Japan’s Shinkansen (bullet train) stations.
In tax increment financing (TIF) schemes, which are more common in the United States for financing infrastructure projects, value capture by governments via increased property rates and taxes has provided a basis for public sector funding. But this has not proved popular in Australia.
<h2>The challenge</h2>
We have even more urban and regional challenges than we did three decades ago. Sydney and Melbourne are each facing rapid population growth and will need to avoid the damaging consequences of urban sprawl and car dependence. Both cities will need to redirect growth inwards, to brownfield and greyfield sites.
Another consideration is how to disperse the population into regional cities, so these areas can also benefit from improved economic activity. Fast rail can potentially help regional cities become part of a “mega-metropolitan” economic region.
For example, a 350 km per hour service connecting Melbourne with Geelong, Ballarat, Bendigo and Warragul would transform these provincial centres into the equivalent of Melbourne’s middle-ring suburbs, where 30-minute commutes are the norm.
<h4><a href="/images/2016/04/19/image-20160413-15868-hprsf4.png" target="_blank">Click to enlarge</a></h4>
<img src="/images/2016/04/19/image-20160413-15868-hprsf4.png" alt="">
<h4>
Travel times in minutes from Melbourne. CSIRO/Australia State of the Environment Report, 1997, Author provided
</h4>
This route would also be the beginning of an inter-capital fast rail route, from Melbourne to Canberra (possibly via Shepparton), and then running through various population centres, via Badgery’s Creek (Sydney’s proposed second international airport) to the Sydney CBD.
<h2>The carbon case… and a bump in the track</h2>
Almost 8 million passengers flew between Melbourne and Sydney in 2015, making this route the world’s fourth busiest (ahead of Beijing-Shanghai). The carbon savings from a Melbourne-Sydney fast rail link therefore represent a major potential reduction in greenhouse emissions, especially if it is powered significantly by renewable energy.
This obviously wasn’t part of the business case back in the 1980s. But in 2016 it is surely a candidate for the federal government’s Emissions Reduction Fund.
The government’s proposed value capture funding model has a sting in the tail. Privately held land near the rail link and its stations will need to be rezoned and handed to private firms to build facilities (and surrounding developments) that they would then own and operate.
Land acquisition, even with compensation at market value, is generally not welcome in Australian cities. This is just one example of what makes transformational urban change so hard. But this kind of transformation will be critical to the creation of 21st-century cities that are productive, competitive, sustainable and liveable.
 
Peter Newton is research professor in Sustainable Urbanism, Swinburne University of Technology and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/peter-newton-2278" target="_blank">here</a>.
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Why Australia should have built fast rail decades ago

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The Block WA sibling contestants Luke and Ebony Haythornthwaite have started their own businesses.
The brother-sister duo have used the $640,000 they won on the reality renovation show to start their own businesses.
Carpenter Luke launched Allure Landscapes and Construction with a friend four weeks ago.
Ebony has moved to Melbourne where she will soon launch her interior design company, The Visionary Co.
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The Block siblings start their own businesses

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GUEST OBSERVER
When planning on investing in property for the first time it is important to prepare yourself for the six main steps in any property journey (establishing finance, asset selection, negotiation, settlement, property management and portfolio review).
With thorough research and preparation you can go from a novice to a property owner in three or so months.
Month one
First things first: you should settle on your objective. In doing so, ask yourself the following questions:
<ul>
<li>What is it that I am after? Am I entirely investment focused?</li>
<li>What’s my budget?</li>
<li>When am I looking to buy?</li>
</ul>
To help you answer these questions seek the advice of a financial advisor to establish a financially viable budget and repayment plan that won’t leave you with unmanageable debt.
With your objective and budget determined start on your desktop research. This should involve studying the property market in your intended area and its surrounds. Those searching within two to ten kilometres of the CBD should pay particular attention to the auction/sale results, lifestyle factors, property types, capital growth and rental demand. It is also a good idea to visit your local library to access newspaper archives on past auction results and sale prices. This will give you an indication about whether the area you are looking in is one with proven capital growth.
Month two
Now is the time to get off the computer and take what you have learnt from your desktop research to auctions. Visit open for inspections and upcoming auctions for properties that are similar to what you are after in terms of location and property style. Doing so gives you knowledge of the current market and an up to date grasp of what fits your budget.
It would also be advisable to take this time to secure a conveyancer and if the property is for investment purposes, a property manager. Selecting a conveyancer before buying allows them to look over the sale of contract prior to the auction or sale. This limits last minute stress in having to find one just before or dealing with any unexpected conditions that may be in the contract.
Month three
You have done the footwork and know what you want to buy; where you want to buy and how you will finance it; and are now ready to find the right property for you.
With everything organised and in place start visiting properties, getting inspections done and attending auctions with the intention to bid. Keep in mind all your research to help keep you calm and in control throughout the whole purchasing process. Remember that while you may not win the first property, you are in the right position, knowledge wise, to find the right one even if it takes a while. 
Jarrod McCabe is associate director, Manager of Property Team, Wakelin Property Advisory.
When is a pre-purchase building inspection a must?  What do they entail?  How does one interpret the results?  What defects can be fixed and which ones should prompt you to walk away. Jarrod McCabe, associate director, Wakelin Property Advisory and Peter Alexander, building inspector, Safehome Building Inspections present a webinar for Victorian home buyers on April 20. <a href="https://wakelin.com.au/inspection">Click here to register</a>.
 
 
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Property 101: Planning for your first investment property with Wakelin Property Advisory's Jarrod McCabe

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An historic coach house built in the 1880s in Brisbane is now under contract having been auction earlier this month.
The dilapidated Teneriffe house at <a href="https://www.realestate.com.au/property-house-qld-teneriffe-122072822" target="_blank">17 Teneriffe Drive</a> was the coach couse of Teneriffe House.
Of recent times Arthur Henricks and May Hickling who married in 1915 had ten children, with Merle residing up until this year.  In 1854, James Gibbon, former MLA and property speculator, known locally as 'Street Corner Jimmy' because he bought corner blocks, bought a parcel of land between Newstead and New Farm and named it Teneriffe, after Teneriffe Peak in the Canary Islands. Gibbon was living at Kingsholme in New Farm before commissioning the construction of Teneriffe House in 1865, on what became known as Teneriffe Hill.
The magnificent house cost 1715 pounds to build, and was constructed of rendered brick on a stone foundation.
The house changed hands several times in its history and was converted to flats in the late 1960s.
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1880s Teneriffe coach house under contract

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The listed real estate group McGrath has lowered its targeted dividend from 4.5 cents per share to 3 to 3.5 cents per share following a revision to forecast volumes and sales especially in the Sydney residential real estate market.
The agency resumed trading on the ASX at 88 cents Monday morning after pointing out increased property market volatility. The shares have traded at between 85 and 99 cents in morning trade.
Some 2.1 million shares were traded in morning trade, representing the busiest trading since the opening two days last December.
The drop-off has led to a downward revision in revenue forecasts of between $4-5 million, and the profit downgrade.
Postponed project launches by its project division was one of the reason for the revenue decline, with $500,000 coming off its revenues.
McGrath is now expecting north and north-west Sydney listings to be 25-30 per cent lower than prospectus forecasts, largely due to a drop off in the number of Chinese buyers in north-west Sydney.
There was also lost revenue because of delays implementing new IT software, would hit earnings by $500,000.
It  said there would be a continued reduction in Chinese buyer activity in the north western Sydney region.
It expected a 25 per cent to 30 per cent decline in listings in western Sydney compared to what its prospectus forecasts were.
These north western and western factors would hit earnings in the order of $3 million to $4 million.
The shares last traded at $1.30 before entering the trading halt.
"As flagged at the end of the half year, current conditions remain challenging in certain market segments and with listings and sales volumes not expected to materially change in the near term, McGrath has accordingly adjusted its expectations for sales volumes and values for the last quarter of 2016 financial year," the statement said.
"On the basis of the current quarter's listings trend (assuming there is no improvement in listings volumes) and current market conditions, McGrath expects to generate 2016 revenue in the range of $136 million to $140 million, and pro forma EBITDA in the range of $26 million to $27 million," the company said in a statement to the ASX.
The company, whose major shareholders include John McGrath and Perpetual, floated at $2.10 but has never exceeded that price. It last traded at $1.30 on Thursday.  
McGrath's board has determined that it will increase the target payout ratio to 75 per cent of net profit after tax for the fiscal 2016 year.
"This will decrease the target dividend from approximately 4.5 cents per share to 3‐3.5 cents per share for the period."
The main area of concern is revenue from company owned offices acquired before the float from the Smollen Group with its revenue 10 per cent below budget.
However the McGrath update noted that in its prospectus, the acquisition of the Smollen Group was structured so that some of the deferred consideration would not be paid if the business did not meet growth targets set at the time of acquisition. 
"Given the performance of this business as outlined above, the at risk component for 2016 of $2.625 million is therefore unlikely to be paid."
McGrath was floated by Bell Potter and JP Morgan. 
“While current industry volatility makes it challenging to forecast FY17, the long term fundamentals of the real estate industry remain attractive, underpinned by historically low interest rates and population growth,” McGrath says. 
McGrath floated in December raising $129.6 million with no debt.
The prospectus, issued in November, did warned house price growth could slow due to an expected plateau in house sales.
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Slowing apartment project sales to blame as McGrath resumes trading at 88 cents

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A recently auctioned Woodend offering remains for sale at $1.2 million.
The 57 Andrew Avenue had been listed at $1.2 million plus. Local architect Damien Summers created the retreat on 1.6 hectares of land on the town’s outskirts.
<a href="https://www.realestate.com.au/property-house-vic-woodend-122180406" target="_blank">Joan Gladman</a> has the bespoke design listing.
Its east-west orientation soaks up light and sun, allowing not just the living rooms, but also two bedrooms to face north. 
A vine-covered pergola provides summer shade whilst allowing welcome winter sun to flood the house. 
A beautiful grey masonry wall defines the elegant library with its mountain ash shelving.
In this wall, a Cheminees Philippe slow combustion/open fire is capable of heating the entire house.
The property has a six star energy rating, thanks to double glazing, LED lighting, insulation and other efficiency measures. 
There is a three stage sewerage system, stormwater management and underground soakage uphill from trees. 
Rainwater harvesting involves a two stage rainwater collection system, and gravity fed garden taps capitalise on this in the thriving orchard.
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Woodend architect's trophy home offering

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Weekend auction sales included a 410 sqm Richmond warehouse style development site at $2 million.
The former 1910 stables were offloaded by a syndicate that included Essendon captain Brendon Goddard, creative designer Jayden Zernich and Jennifer Brookes.
The <a href="https://www.realestate.com.au/property-house-vic-richmond-122240194" target="_blank">19-21 Farmer Street</a> premises (above) dated back to the days of John Wren's Richmond trotting racecourse which operated until the mid-1930s.
Goddard and his co-owners secured planning approval for two three bedroom townhouses after they bought the investment property in April 2014 for $1.36 million. 
But the Western Bulldogs chief operating officer Michael Quinn couldn't sell his Fitzroy terrace, with the three bedroom home passed in on a $2.2 million vendor bid.
Vader House at 258 Napier St was transformed by award-winning architect Andrew Maynard about five years ago having been bought in 2005 at $618,000.
It is now <a href="https://www.realestate.com.au/property-house-vic-fitzroy-122179150" target="_blank">listed for $2.5 million</a>. 
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Brendon Goddard sells Richmond townhouse site

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Private treaty terrace sales have dominated the recent headlines with record prices set in Potts Point and Alexandria.
The freestanding <a href="https://www.realestate.com.au/property-terrace-nsw-potts+point-122444590" target="_blank">Potts Point terrace, Saraville</a>, with costly Conybeare Morrision makeover, fetched $13 million. 
It was best known as having been the Challis Avenue restaurant, Le Trianon.
A $2.25 Alexandria sale of a contemporary Frank Stanisic terrace was also advised as a record price through McGrath. With 232 sqm living space, it last sold in 2005 at $1 million.
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Record terrace price sales in Potts Point and Alexandria

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There were no bids when Invergowrie, the Tudor-style NSW Southern Highlands estate, offered by the former Liberal politician, turned businessman and commentator John Hewson, went to weekend auction.
The <a href="https://www.propertyobserver.com.au/https://www.randw.com.au/property/0000278286" target="_blank">seven bedroom Exeter house</a>, that comes with studies, library, ballroom and billiard room, dates back to the 1930s when built for the BHP industrialist Sir Cecil Hoskins.
The Richardson &amp; Wrench auctioneer Geoff Speers sought bids at $7 million for the 10 hectare estate that last sold for $5.5 million in 2004.
"This is an extraordinary estate," the auctioneer said.
Hewson has had an ongoing love of things Tudor. His first home in the Highlands was Redlands, also Tudor-style and in Paul Sorenson gardens, which he bought for $106,000 in 1977 and sold for $380,000 in 1985, just before he became the Federal Liberal Party leader with the red Ferrari.
Hewson and his wife, Jessica Wilson, who had Invergowrie listed through Michael Maloney at Richardson &amp; Wrench Bowral, want to move closer to Bowral.
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John Hewson's Southern Highlands estate passed in no bid

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."

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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."

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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."

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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.

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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.

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“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.

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“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.”

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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.

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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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