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Listed property developer Cedar Woods Properties has doubled its profit for the half year to December 31, after securing better project margins. 
Net profit after tax was $18.1 million, up 100 per cent from the previous $9 million. 
Revenue remained steady at $77 million.
It found cost savings in lower development expenses, through cheaper contractors.
It is developing in four states, including the recently acquired a 3.81-hectare infill site approved for 279 dwellings in Wooloowin, Brisbane.
It has announced the expansion of the Williams Landing Shopping Centre, in western Melbourne which opened in December 2014, comprising a Woolworths supermarket, 21 specialty stores and 1,800 m2 of office space.
Cedar Woods is constructing a $6.5 million expansion of the centre. It noted strong price growth on residential lots was being achieved resulting in the higher margins.
The expansion will include a 106-place childcare facility managed by Future Kids and around 1200 square metres of ground floor retail space.
The expansion will be financed by a $30 million facility provided by Bankwest, to fund the expansion and also refinance the existing $23 million development facility that was arranged to build the Williams Landing Shopping Centre in 2014.
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jchancellor-FAypfDUnLy

Cedar Woods Properties doubles profit for half year to December 2015

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A Hong Kong investor has secured a 123 sq m tenanted retail property in Broadbeach CBD on the Gold Coast for just over $1 million.
The ground-floor property at 3/90 Surf Parade earns a net annual rent of $63,682 representing a yield of 5.8 per cent.
Ray White’s Steven King handled the deal for a Melbourne-based investor.
It had last sold at $690,000 in 1998 
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Gold Coast shopfront sells just north of $1 million

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<a href="https://www.colliers.com.au/find_research/office/cbd_office_-_first_half_2016/" target="_blank"></a>
GUEST OBSERVER
Australian CBD office space is just one percent of global office floorspace, however for such a small market it is remarkably popular with investors.
In our 2015 Global Investor Outlook survey, Sydney and Melbourne were ranked as the second and third most popular destinations in which global investors wanted to target.
<a href="https://www.colliers.com.au/find_research/office/cbd_office_-_first_half_2016/" target="_blank"></a>
London, which has an office market more than three times larger than Sydney, ranked first.
<a href="https://www.colliers.com.au/find_research/office/cbd_office_-_first_half_2016/" target="_blank"></a>
Offshore investors now own 17 percent of Australian office stock, around twice as much as they did five years ago. Investment levels continue to rise. In 2015, offshore investors accounted for 67 percent of total direct investment in CBD office buildings. If indirect investment is included, the proportion is a lot higher.
<a href="https://www.colliers.com.au/find_research/office/cbd_office_-_first_half_2016/" target="_blank"></a>
Australia's strong economy, high transparency and low sovereign risk continue to play a key role in driving investment decisions. However, yield compression is continuing to occur and some investors are beginning to see Australia as too expensive. We consider this is unlikely to lead to a significant reduction in offshore investment in CBD office investment in 2016.
<a href="https://www.colliers.com.au/find_research/office/cbd_office_-_first_half_2016/" target="_blank"></a>
The key challenge for offshore investors is that although Australia is a particularly popular target, the small size of the market makes it difficult for them to access stock.
 
<a href="/images/2016/02/24/Screen%20Shot%202016-02-24%20at%201.10.27%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/02/24/Screen%20Shot%202016-02-24%20at%201.10.27%20PM.png" alt="" width="790" height="554">
Nerida Conisbee is national director of research for Colliers International and can be contacted <a href="https://www.colliers.com/nerida.conisbee">here</a>.
 
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Prices soar as offshore investment dominates (Is Australia becoming too expensive?)

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The first Burgess Rawson portfolio auction of the year saw a Vodafone facility on the Gold Coast fetch $6.1 million.
Auctioneer David Scholes advised there was a renewed secure 10 year net lease to June 2025 plus options to 2035.
<a href="https://www.burgessrawson.com.au/buying/QLD/Gold-Coast/Arundel/Office/4P0195#.VszCAYx96AI" target="_blank">Leased to Vodafone</a>, the tenant has been in occupation for 15 years at the strategically positioned telecommunications facility located at Arundel 7 km from the Southport CBD.
It is one of only three Vodafone high tech facilities in Queensland with a site area of 2,738 sqm.
Its annual rental increases are 3.5% until 2020 and 3.25% until 2024, with the tenant paying all outgoings including and tax.
Its net income was $430,000 pa + GST, increasing to $445,050 pa + GST in June 2016.
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Gold Coast Vodafone facility fetches $6.1 million at Burgess Rawson auction

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The exposure of the big four banks to commercial property lending has further increased. 
Australia's four major banks contributed about 70 percent of the latest increased exposure to commercial property.
Analysis from CLSA, NAB has the highest percentage of gross loans to commercial property at 10.3 percent or about $60.2 billion.
Westpac is second at 8.2 percent, through less than a third of the 35 percent it had during the tumultuous early 1990s.
CBA sits at 7.2 percent and ANZ had the lowest exposure to commercial property.
Australia's banks saw their biggest quarterly increase in exposure to office towers during the December quarter, rising almost $3 billion to $74.56 billion, the largest quarterly change since the Australian Prudential Regulation Authority began the 2008 data series.
Australian banks increased their commercial property exposures by $5.46 billion in the December quarter to $244 billion.
Exposures in office accommodation make up 30 percent of all commercial property while retail property made up 23 percent.
There were increased exposures in every sector of commercial property except tourism assets, the Australian Financial Review noted.
Exposures in commercial residential and land developments rose by a collective $1.8 billion in the December quarter.
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Commercial Property 101: Big four banks ratchet up commercial property exposure

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Frasers Property Australia (formerly Australand) has secured its first tenant in Horsley Drive Business Park, which will be the first six star Green Star industrial precinct in Australia.  
Martin Brower Australia has entered into a 20 year lease for an 18,559 sqm facility comprising warehouse and 3,000 sqm office space. The facility will accommodate dry store, chiller, freezer and chilled staging areas in the warehouse. 
Frasers Property is focused on delivering direct and real benefits to our customers by reducing their total occupancy costs and operating expenses, whilst also improving their health and wellbeing.
Over 300 people will be located in Martin Brower Australia’s new facility.
Horsley Drive Business Park is a 20.4 hectare site owned by the Western Sydney Parkland Trust (WSPT) and is located on the corner of Cowpasture Road and Horsley Drive. Frasers Property has entered into a development agreement with WSPT to deliver a high quality industrial estate with a mix of facility types.
Jackie McArthur, managing director of Martin Brower Australia the business were supply chain partners to McDonald’s globally, and will service approximately 300 restaurants from this site which is ideally located with accessibility to Sydney’s major transport networks.
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Martin Brower takes Horsley Drive Business Park lease

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ASIC has accepted an enforceable undertaking (EU) from Mr Rankothge Bandula (Ben) Jayaweera. The EU permanently prevents Mr Jayaweera from providing financial product advice to any retail client. 
Mr Jayaweera is a director and authorised representative of Growth Plus Financial Group Pty Ltd (Growth Plus) in Brisbane, Queensland.
Mr Jayaweera recommended that clients invest in an unregistered aqua agriculture investment scheme, which was operated by Growth Plus, without reasonably considering the clients' goals and financial situation. The recommended investments were not consistent with the clients' risk profile and exposed the clients' superannuation benefits to inappropriate levels of risk.
ASIC had concerns that Mr Jayaweera may have:
<ul>
<li>Act in the best interests of clients in relation to personal advice;</li>
<li>Ensure the advice provided to clients was appropriate; and</li>
<li>Ensure that when providing advice, he prioritised his clients' interests before his own or that of Growth Plus.</li>
</ul>
Under the EU, Mr Jayaweera will permanently cease to provide financial product advice to retail clients. Additionally, he will not be involved in any capacity in the provision of financial product advice to retail clients.
Download the EU <a href="https://asic.gov.au/online-services/search-asics-registers/additional-searches/enforceable-undertakings-register/" target="_blank">here</a>.
Background
ASIC's  review of advice provided by Mr Jayaweera was commenced after the Financial Ombudsman Service Limited notified ASIC of the non-payment by Growth Plus of a determination relating to advice provided by Mr Jayaweera. 
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ASIC order over aqua agriculture investment scheme 

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Capitol Grand, South Yarra has announced it is set to commence demolition works after its initial 120 luxury apartment sales.
Melbourne's developer community however believed the $800 million South Yarra tower, Capitol Grand project, which is now offering up to two million Qantas Frequent Flyer points to off-the-plan buyers, was too expensive to succeed, according to the Australian Financial Review.
The Fairfax Media newspaper also added the Qantas deal was viewed as "an ominous sign as incentives usually creep into markets when demand falls or there is an over-supply."
<a href="https://apartments.lkproperty.com.au/capitol-grand-melbourne/?gclid=CMjohY3RjcsCFQF_vQod6c0MXw" target="_blank">Apartments in Capitol Grand</a> start from $610,000 for a 50 square metre one-bedder with two-bedders starting from $1 million.
The most expensive penthouses are priced at an "eye-watering" $25 million, which the paper noted made it more expensive than the $20 million paid for the penthouse atop Australia 108, the Southbank skyscraper now under construction which will be the tallest in the Southern Hemisphere upon completion in 2019.
The project received development approval at VCAT in July last year after the height was raised from 38 to 50 stories, which at 180 metres will be the tallest building outside the Melbourne CBD. It is on the former Capitol Bakery site.
LK Property Group's Larry Kestelman, the founder of internet provider Dodo, told The Australian Financial Review 120 out of the 400 apartments had now sold, the majority to local buyers. 
"We have enough sales on the board to commence demolition in next couple of weeks.
"A demolisher has been appointed and the site's been hoarded up.
"We're half-way through the tend process to appoint a builder," he said.
The project, at the corner of Toorak Road and Chapel Streets, will be funded by Mr Kestelman's "independent financial arrangements" and does not have international stakeholders or partners.
"The news will surprise some in Melbourne's developer community, who believed the project was too expensive to succeed," the paper reported adding the Capitol Bakery site had a track record of failed projects, the most recent in 2011. 
Some $100 million in sales were inked in the first 10 days of sales last August after a Melbourne appearance by actor Charlize Theron, who spruiked the development at the Australian Grand Prix.
Capitol Grand South Yarra won the prestigious Best Luxury Development Asia Pacific award at the iProperty.com Awards, held by one of Asia’s largest online real estate portals.  
Three years ago, LK Property Group created the partnership with Qantas Loyalty on other projects.
“We have had an excited response about the Qantas partnership from buyers in our other developments," a spokesperson advised.
"Potential buyers walk into an apartment and start talking to the agents about their travel plans, so we know it’s a great partnership to have been able to secure with Qantas Loyalty.
"Capitol Grand South Yarra buyers could take advantage of the offer to escape the Melbourne winter and put points towards the longed for European sojourn."
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Capitol Grand, South Yarra set to commence demolition after 120 luxury apartment sales

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One of New Street, Brighton's oldest properties has stood the test of time and has been rewarded, with a $2.95 million weekend sale.
New Street land sales took off when the railway extension and the tram from St. Kilda arrived in the 1860s, with <a href="https://www.marshallwhite.com.au/110-new-street-brighton-352381/" target="_blank">110 New Street Brighton</a> long regarded highly.
Marshall White agents Kate Strickland and Gerry Gordon secured the sale at the February 20 auction.
The property had last traded for $1.85 million in 2008. 
The renovated and extended 1888 Victorian cottage honours its architectural heritage, with the original slate roof and the brick chimney it's oldest exterior features.
Despite the renovation, the Baltic pine floors and original fireplaces have been maintained.
The 883 sqm family home has four bedrooms, three living areas, two bathrooms and a study.
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1880s New Street, Brighton trophy home sold

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UBS Australia boss Matthew Grounds is on the move, but not going anywhere far. The Mosman trophy home - bought for $11 million in 2007 with wife, Kimberley - has be become redundant listed for sale.

Ofcourse being a Mosman merchant banker he's staying on the suburb's property merry-go-round upgrading to a nearby $14 million acquisition.

<a href="https://www.realestate.com.au/property-house-nsw-mosman-121944094" target="_blank">Their redundant five bedroom home</a> looks over Grotto Point towards the Heads. It's an easy walk to Rosherville Reserve, Chinamans Beach, Balmoral Beach and The Esplanade café scene.

The Phillip Corben designed 2007-designed contemporary home was updated with interiors from Burley Katon Halliday around 2009. Not sure who signed off on the Entertaining terrace with uplifting views built-in Beefeater BBQ Entertaining terrace with uplifting views built-in Beefeater BBQ There are striking seagrass wall panels and limewash timber floors with lots of white timber door panelling.

The space is all linked by a four person internal lift. All bathrooms have underfloor heating.

Its 733sqm of landscaped gardens including a 12.5m heated swimming pool and hedge framed level lawn in its cul-de-sac setting.

The Grounds family demolished a large Federation house on a 1680-square-metre block after paying $14 million to Patrick Allaway, the chairman of Saltbush Capital Markets, and his wife, Libby.

The Grounds maintain a Palm Beach retreat with Lleyton Hewitt and Bec Cartright as their neighbours for a time.

He briefly made the 2009 BRW Rich List with an estimated $40 million.

This article was first published in the Saturday Daily Telgraph.

 Related developments:

[smartcode_project:default project_id=29139]
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UBS merchant banker Matthew Grounds on Mosman property merry-go-round

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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