<html><body>
Treasurer Scott Morrison noted only yesterday that "the rate of unemployment has been under 6 now for some months."
Not any more, based on the January figures released today.
But trend employment has continued to show strong growth, according to figures released by the Australian Bureau of Statistics (ABS) today. 
"The trend shows that around 302,000 more people were employed in January 2016 than in January 2015 and full-time employment growth was a bit stronger than part-time growth over the year, increasing by 169,800 people," General Manager of ABS' Macroeconomic Statistics Division, Bruce Hockman said.
The increase in employment has contributed to the trend employment to population ratio rising over the year from 60.7 per cent to 61.4 per cent, while the unemployment rate decreased over the year from 6.2 percent to 5.8 percent.
Over the past month, trend employment increased by 19,800 persons to 11,909,900 persons, which equates to a monthly growth rate of 0.17 per cent. 
This growth rate was slightly above the monthly average over the past 20 years (0.15 per cent), and continues the recent trend in relatively strong employment growth.  
The trend series smooth the more volatile seasonally adjusted estimates and provide the best measure of the underlying behaviour of the labour market.
The seasonally adjusted number of persons employed decreased by 7,900 in January 2016, while the number of persons unemployed increased by 30,200. 
The seasonally adjusted unemployment rate for January 2016 was 6.0 percent (up 0.2 percentage points) and the seasonally adjusted labour force participation rate was unchanged at 65.2 percent.
The ABS seasonally adjusted monthly hours worked in all jobs series increased by 10.9 million hours (0.7 per cent) to 1,656.0 million hours.
Westpac noted the rise in the unemployment rate to 6% may give the RBA a reason to pause and consider their assessment of the labour market. 
"In the most recent Statement on Monetary Policy they stated that the unemployment rate had fallen below 6% and was likely to stay there. 
"While one month is not a trend we would suggest that today’s print would make them a little less confident in that assessment," Westpac noted.
</body></html>

jchancellor-FAypfDUnLy

Unemployment at 6 percent unexpectedly in early 2016

<html><body>
There's whispers a heritage art deco factory in Port Melbourne will be the venue of the next series of Channel 9's popular reality show, The Block.
The Block's producers are believed to have snapped up the imposing, heritage protected building at 164 Ingles Street from the BRW rich-lister Harry Stamoulis.
The $5 million deal follows its marketing late last year. <a href="https://dawkinsocchiuto.com.au/property/auto-draft-32/" target="_blank">The listing website</a> suggests the property is under offer. 
There had been rumours the one 2016 Block may have found a former icecream factory for its setting.
<div class="cT-imageLandscape">
<img src="https://www.smh.com.au/content/dam/images/g/m/v/g/1/i/image.related.articleLeadwide.620x349.gmv0u7.png/1455685072530.jpg" alt="The Block's contestants will have to cope with heritage-building related restrictions next time around." title=""> 
But the pinpointed Port Melbourne building is part of the former Velvet soap factory site of J Kitchen &amp; Co which became Unilever.
It was constructed in the 1920s as the factory's administration office.
The building, with a stepped-back main entrance, was among a larger holding purchased by Stamoulis for $25 million in 2013, with around 280 townhouses now under construction on the surrounding former Symex chemical factory site opposite the Port Melbourne Cricket Oval.
Estate agent Walter Occhiuto from Dawkins Occhiuto has the building as being under "contract" on its website.
The marketing campaign focused on the building's development potential for office or hotel accommodation. It was marketed as an outstanding building of 2355 sqm. It sits on a 1155 sqm block.
J Kitchen &amp; Sons commenced trading in Port Melbourne in the 1850s making such products as Velvet Soap and Electrine Candles from the tallow and other animal fats from the nearby slaughter yards. In the decades the company became Kitchen &amp; Lever then Unilever and most recently Unichema. 
But back in the second half of the 1920s, into the 1930s, the company produced a journal called Advance.
The Port Melbourne Historical &amp; Preservation Society (PMHPS) have several editions in their collection.
<a href="/images/2016/02/18/1925view-1.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/02/18/1925view-1.jpg" alt=""> 
 
</div>
Advance Vol 2 No 7 from July 1925 featured their new Administration Offices saying '... the firm may well claim to have built one of the most up-to-date block of offices in the Commonwealth, combining loftiness, dignity and stability'.
Inside the main entrance the vestibule has a 'mosaic floor in a shining pattern, having the monogram of J Kitchen &amp; Sons worked into the centre".
 <a href="/images/2016/02/18/fourviews.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/02/18/fourviews.jpg" alt=""> 
Interior fittings were of the highest order with doors built of 'polished maple and plate glass'. The second floor contained a 'spacious hall for social purposes designed to accomodate 700 people' with a kauri dance floor.
The following edition of Advance in October 1925 included this photo of the opening of the Social Hall. <a href="/images/2016/02/18/opening.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/02/18/opening.jpg" alt="">
The company Social Club appears to have been very active with a library containing over 600 volumes, a tennis club, cricket club and football club who on the King's Birthday took on another great Port Melbourne company, the biscuit-makers Swallow and Ariel, at the Port Melbourne football ground.
The Block's last season saw contestants renovating the Hotel Saville, an octagonal building on the corner of busy Commercial and Punt roads in South Yarra.
The last series, won by Newcastle’s Dean and Shay, averaged 1.048 million viewers across its run.
Dean and Shay collected $755,000 when their penthouse apartment sold for $2.3 million.
Nine has revealed that the makers of The Block are yet to purchase a building for the next series.
The 2016 series of The Block won’t screen until the last quarter of this year. 
 
</body></html>

The Block Port Melbourne - awash with soapy renovation series setting whispers

<html><body>
Investing during times of market stress and volatility can be difficult. For this reason it’s useful for SMSF investors to keep a key set of things – call them rules – in mind.
The seven key rules, in my view, are: be aware that there is always a cycle; invest for the long term; turn down the noise; buy low and sell high; beware of the crowd; diversify and focus on investments offering a sustainable cash flow.
1. Be aware that there is always a cycle
The historical experience of investment markets – be they bonds, shares, property or infrastructure – constantly reminds us they go through cyclical phases of good times and bad. Some are short term, such as occasional corrections. Some are medium term, such as those that relate to the three to five year business cycle. Some are longer, such as the secular swings seen over 10 to 20 year periods in shares. But all eventually contain the seeds of their own reversal. The trouble with cycles is that they can throw investors out of a well thought out investment strategy that aims to take advantage of long term returns and can cause problems for investors when they are in or close to retirement. In saying this, cycles can also create opportunities.
2. Invest for the long term
The best way for most investors to avoid losing at investments is to invest for the long term. Get a long term plan that suits your level of wealth, age and tolerance of volatility and stick to it. This may involve a high exposure to shares and property when you are young or have plenty of funds to invest when you are in retirement and still have your day to day needs covered. Alternatively if you can’t afford to take a long term approach or can’t tolerate short term volatility then it is worth considering investing in funds that use strategies like dynamic asset allocation to target a particular goal – be that in relation to a return level or cash flow. Such approaches are also worth considering if you want to try and take advantage of the opportunities that volatility in investment markets through up.
3. Turn down the noise and focus on the right asset mix
The combination of too much information has turned investing into a daily soap opera – as we go from worrying about one thing after another. Once you have worked out a strategy that is right for you, it’s important to turn down the noise on the information flow surrounding investment markets. This also involves keeping your investment strategy relatively simple – lots of time can be wasted on fretting over individual shares or managed funds – which is just a distraction from making sure you have the right asset mix as it’s your asset allocation that will mainly drive the return you will get.
4. Buy low, sell high
One reality of investing is that the price you pay for an investment or asset matters a lot in terms of the return you will get. It stands to reason that the cheaper you buy an asset the higher its prospective return will be and vice versa, all other things being equal. If you do have to trade or move your investments around then remember to buy when markets are down and sell when they are up.
5. Beware the crowd and a herd mentality
The issue with crowds is that eventually everyone who wants to buy will do so and then the only way is down (and vice versa during periods of panic). As Warren Buffet once said the key is to "be fearful when others are greedy and greedy when others are fearful".
6. Diversify
This is a no brainer. Don’t put all your eggs in one basket as the old saying goes. Unfortunately, plenty do. Through last decade many questioned the value of holding global shares in their investment portfolios as Australian shares were doing so well. Interestingly, for the last five or so years global shares have been far better performers and have proven their worth.
It appears that common approaches in SMSF funds are to have one or two high-yielding and popular shares and a term deposit. This could potentially leave an investor very exposed to either a very low return oif something goes wrong in the high -yield share that they’re invested in. By the same token, don’t over diversify with multiple – say greater than 30 – shares and/or managed funds as this may just add complexity without any real benefit.
7. Focus on investments offering sustainable cash flow
This is very important. There’s been lots of investments over the decades that have been sold on false promises of high returns or low risk (for example, many technological stocks in the 1990s, resources stocks periodically and the sub-prime asset-back securities of last decade). If it looks dodgy, hard to understand or has to be based on obscure valuation measures to stack up, then it’s best to stay away. There is no such thing as a free lunch in investing – if an investment looks too good to be true in terms of the return and risk on offer, then it probably is. By contrast, assets that generate sustainable cash flows (profits, rents, interest payments) and don't rely on excessive gearing or financial engineering are more likely to deliver.
Final thoughts
Investing is not easy and given the psychological traps that we are all susceptible to – in particular the tendency to over-react to the current state of investment markets – a good approach is to simply seek the advice of a coach such as a financial adviser.
 
<a href="https://www.ampcapital.com.au/smsf-suite/product-suite">Dr Shane Oliver</a>, head of investment strategy and economics and chief economist at AMP Capital is responsible for AMP Capital's diversified investment funds. He also provides economic forecasts and analysis of key variables and issues affecting, or likely to affect, all asset markets.
</body></html>

Property 101: Seven rules for SMSF investors

<html><body>
Australia's newest billionaire Gretel Packer has seemingly secured the longtime Palm Beach retreat in the recent settlement that divvied up the assets from the family's vast fortune.
She is the sole director and secretary of the newly created company that now owns the prestige northern beaches estate.
The bungalow on its well-shaded 4000 sqm beachfront reserve holding was transferred recently with a notional $24 million value.
It was 1981 when her father, the late media tycoon Kerry Packer broke through the beachside suburb's million-dollar threshold with his $1 million purchase of the Ocean Road holding from the MacCormick family, who had paid 12,000 pounds in 1952.
The $24 million figure ranks as Palm Beach's priciest as the prior high was the $22 million paid nearby by car dealer Laurie Sutton in 2012 for the trophy home, Kalua.
Gretel and her brother, James reached a private settlement last September finalising the will of their father, Kerry who passed away of kidney failure in 2005, nine days after his 68th birthday. There has since been a further finalisation of the initial settlemement.
The paperwork on the property division only emerged last month at NSW Land Titles office.
The very private Gretel Packer, a 49-year-old mother, businesswoman, philanthropist and arts patron, has remained largely out of the headlines for most of her life.
But she will now be on the rich lists, as Australia’s newest billionaire after the deal with her younger brother. She was spotted having a coffee with valuer Paul Donovan from Pontons this week.
I recall reporting on the shyness of the young Gretel who got a $290,000 Cartier diamond choker and earings from her dad at her 21st birthday in 1987 when 350 guests partied at the Bellevue Hill.
Last year lunching a $200 million philanthropic fund for indigenous education and community welfare and the arts, the Packer Family Foundation’s chairwoman said philanthropy had always been a part of her life — "sometimes private, sometimes public, but always there."
She is a trustee of the Sydney Theatre Company Foundation, a patron of the Taronga Zoo Foundation and a board member of the Art Gallery of NSW.
Marrying twice, first to financier Nick Barham and then spiritualist, Shane Murray, she has been based at the 1919 Edwardian Bellevue Hill residence, Winston since paying for $11.25 million in 2000. 
The family matriarch, Ros, currently in India, was mostly in residence at the Palm Beach bungalow over summer and remains chatelaine of Cairnton, the longtime Packer family estate in Bellevue Hill.
“Gretel and James have always been very close and their love and respect after the settlement is as much if not more than before,” Rob Rankin, the chief executive of the Packers’ private company Consolidated Press Holdings told News Ltd last year. 
Rob ­Rankin said the settlement honoured their late father's wishes.
Gretel Packer had always known that, on her father's death, it would be her brother James Packer who would take the family business forward.
The LA-based casino tycoon has since dismantled most of the multibillion-dollar media empire built by his late father Kerry Packer and grandfather Frank Packer, which included the Nine television network and ACP Magazines.
James Packer's passionate project is the $2 billion luxury hotel-casino complex at Sydney’s Barangaroo, due to open in 2019, with plans to have wealthy gamblers visit his Ellerston golf course.
This article first appeared in the Saturday Daily Telegraph.
</body></html>

Gretel Packer gets Palm Beach in family negotiations

<html><body>
ASIC has disqualified Michael John Teys of Sydney from managing corporations for five years following his involvement in the failure of three companies. The disqualification commenced on 29 January 2016 and ceases 28 January 2021.
The disqualification follows an ASIC investigation which found that Mr Teys breached his duties as a director, including failing to comply with financial services laws.
Mr Teys was the director of:
<ul>
<li>ACN 127 707 671 Pty Ltd (formerly known as Teys Lawyers Pty Ltd) ACN 127 707 671 (Teys Lawyers),</li>
<li>TPFL Ltd ACN 105 164 047 (TPFL), and</li>
<li>TPL Holdings Pty Ltd ACN 010 892 243 (TPL).</li>
</ul>
Each of these companies was placed into liquidation between 20 April 2010 and 3 June 2014.
ASIC found that Mr Teys managed the affairs of Teys Lawyers, TPFL and TPL well short of the standards required of someone in his position as Mr Teys:
<ul>
<li>Managed Teys Lawyers and TPL such that each incurred a deficiency;</li>
<li>Managed Teys Lawyers such that it preferred trade creditors over the ATO and in so doing acted with a lack of commercial morality;</li>
<li>Used his position as a director of Teys Lawyers and TPL improperly to gain financial advantages for himself and other related parties;</li>
<li>Failed to exercise due care and diligence in the management of a number of loans made by TPFL through its registered managed investments schemes.</li>
<li>Failed to exercise due care and diligence to ensure that Teys Lawyers and TPFL lodged documents with both the ATO and ASIC.</li>
</ul>
Liquidators reported that the total deficiencies owed to creditors exceeded $5 million across all three companies.
ASIC Commissioner Greg Tanzer said, 'Directors have a responsibility to manage the financial affairs of their company in accordance with the law. As this case shows, directors who cause or permit their company to breach legal obligations can face significant consequences.'
Mr Teys has the right to appeal to the Administrative Appeals Tribunal for a review of ASIC’s decision.
Background
The five year period for which Mr Teys was banned from managing corporations is the maximum period of disqualification that ASIC can impose under section 206F of the Corporations Act 2001.
Teys Lawyers traded as a legal services business specialising in strata law and was previously known as Michael Teys Strata Law Pty Ltd, Teys Lawyers Pty Ltd, and ACN 127 707 671 Pty Ltd.
TPFL held an Australian Financial Services License and as a responsible entity operated a number of registered managed investments schemes including:
<ul>
<li>Teys Strata Mortgage Trust ARSN 108 137 195;</li>
<li>Teys Strata Development Trust ARSN 1129 939 509;</li>
<li>The Teys Income Builder ARSN 110 052 429;</li>
<li>Dunsborough Hotel Property Syndicate ARSN 098 946 733;</li>
<li>Teys Strata Lifestyle Property Trust ARSN 096 588 108;</li>
<li>Sydney Apartments Trust ARSN 121 041 405;</li>
<li>Teys Fixed Income Trust ARSN 121 041 503;</li>
<li>Broadwater Bungalows ARSN 090 521 163;</li>
<li>Teys Retirement Property Trust No 1 ARSN 112 939 705; and</li>
<li>Settlers Lifestyle Property Trust ARSN 112 939 572</li>
</ul>
TPFL went into external administration on 5 March 2010.  ASIC cancelled TPFL's Australian Financial Services license on 22 March 2010.
This matter received funding from ASIC under the Assetless Administration Fund to fund the Liquidator of TPL to prepare a supplementary report for the purposes of ASIC to consider a banning Mr Teys pursuant to Section 206F of the Corporations Act 2001 (the Act).
</body></html>

Michael Teys disqualifed by ASIC

<html><body>
Sydney businessman Nick Politis has bought the historic Heckelmann's Building in the heart of Brisbane's CBD for $15.5 million.  
The building, at 171 Elizabeth Street opposite the Hilton Hotel, was sold through Knight Frank, according to the Australian Financial Review.
"Our formal marketing campaign for 171 Elizabeth Street resulted in a large number of offers from private investors and developers; mostly from interstate investors who have been priced out of the Sydney and Melbourne CBD markets," Knight Frank senior director for institutional sales Justin Bond said.
Mr Politis,whose wealth is estimated by the BRW Rich List at $594 million, invests in real estate across the country.
Heckelmann's Building is a heritage-listed building designed by Andrea Giovanni Stombuco and built from 1884 to 1891. It was added to the Queensland Heritage Register in 1992.
Joseph Heckelmann, a tinsmith by trade, died in 1925. In 1951 the building was purchased by the Commercial Bank of Australia for £50,000, subdivided in 1963 and two years later one half of the building was bought by Ken Rosewall and Rod Laver, noted Australian tennis champions. Kern Corporation subsequently became the owner of the entire building.
It last sold at $2.4 million in 1991.
</body></html>

Heckelmann's Brisbane building sold to Nick Politis

<html><body>
The City of Sydney wants the law changed to allow short-term holiday services, such as Airbnb, so long as neighbouring properties and traditional visitor accommodation services are not adversely affected.
In its submission to the NSW Parliamentary Inquiry into the laws on short-term holiday letting, the City said the ‘sharing economy’ was rapidly expanding around the world and local legislation had not kept up.
“Tech companies are providing increasingly efficient means for offering homes and spare rooms for short-term holiday letting but our laws have not kept pace,” Lord Mayor Clover Moore said.
“With the right rules, short-term holiday letting can support local communities and economies, while protecting amenity and the residential character of our villages.”
Under current planning controls:
<ul>
<li>Tourist and visitor accommodation is not permitted in residential zones; and</li>
<li>Residential accommodation and tourist accommodation in the same building must be on separate floors and have separate lifts.</li>
</ul>
The City does not support changing this long-term policy, which is in place to protect neighbourhood amenity and visitor safety.
Airbnb listings in metropolitan Sydney have almost doubled in the past year: from 5,692 in September last year to 10,473 listed properties in October this year. In the City of Sydney government area, there are 2,993 properties listed.
The record shows that short-term holiday letting is booming around the world, providing income for owners and local businesses, and providing a variety of accommodation experiences.  
But the desire of property owners to offer short-term rentals, using online services such as Airbnb, needs to be balanced against the reasonable expectations of neighbourhood amenity and visitor safety.
The City is recommending a new definition for this style of accommodation and a consistent state-wide approach.
Quick statistics on the City of Sydney local government area:
Number of Airbnb listings: 2,993 (Source: insideairbnb.com/sydney/)
Number of hotel rooms: 20,000
Number of serviced apartment rooms: 4,700
Number of pub rooms: 968
Number of backpacker hostel beds: 6,200
Source: City of Sydney.
Under this proposal, premises could be classified as ‘exempt’ development where they meet certain requirements, such as limiting the number of days they can be let in a year and the number of people staying. If short term letting does not meet the requirements it would not be permitted.
“The City also wants to ensure there is continued investment in traditional visitor accommodation, which makes an important contribution to Sydney’s economy, with approximately 31,868 rooms or beds currently available, and another 4,259 hotel keys and 197 serviced apartments in the pipeline,” the Lord Mayor said. 
“More than 10.5 million visitors came to Sydney in 2012, contributing over $5 billion to the city’s economy.  This supported over 10,000 businesses in the transport, accommodation, education, retail, cultural and recreation sectors. This equates to almost 27,000 jobs or seven per cent of the city’s workforce.”
The City’s Visitor Accommodation Action Plan, adopted this year, supports investment in new and existing visitor accommodation to meet the demand forecast by the national tourism strategy, Tourism 2020.
To encourage investment and increase the number of beds or rooms in the traditional accommodation sector, the plan is to implement regulatory reform, such as reducing compliance costs and removing barriers, as well as facilitating new tourism infrastructure projects.
</body></html>

Airbnb needs the right rules Sydney Council tells NSW Parliament

Why is non-mining business investment so weak and what is the outlook? CBA's Gareth Aird

<html><body>
GUEST OBSERVER
The issue of negative gearing has roared to the centre of our national political debate.
Last weekend Labor leader Bill Shorten announced major changes to negative gearing and to capital gains tax. The Parliamentary Budget Office estimates that Labor’s policy could raise $32 billion over 10 years.
These are risky changes for our industry and for the economy given they come at a time when growth is so delicately poised.
Major changes to negative gearing and capital gains tax would have far-reaching effects throughout the economy. If enacted, Labor’s policy will distort the market, hit rents, hurt jobs and make it so much harder for families to plan their economic futures – all this without any modelling of its impact on rents, construction levels, jobs or state budgets.
However, it is not only the Opposition that is being tempted by the possibility of big new tax licks.
As yet, we do not have clarity over the Turnbull Government’s position on property taxes. While some frontbenchers and backbenchers have expressed support for the existing system of negative gearing, the Government’s position appears to be fluid.
That’s why the Property Council is putting the case to politicians of all political backgrounds not to damage an industry that supports 1.1 million jobs throughout the economy and generates one ninth of our national income.
Two million Australians own an investment property. Property has always been part of the ‘Australian dream’ and it has been a proven means for Australians on middle incomes to build their wealth.
Playing around with negative gearing policy doesn’t make sense and it’s sure not worth the economic risk.
 
Ken Morrison is the Chief Executive of the Property Council of Australia and can be contacted <a href="https://www.propertycouncil.com.au" target="_blank">here.</a>
</body></html>

Negative gearing changes not worth the risk: PCA's Ken Morrison

<html><body>
Vicinity Centres today reported a statutory net profit of $424.6 million for the six months ended 31 December 20151.
Underlying earnings were up 10.1% to $377.6 million with underlying earnings per security (EPS) up 9.3% to 9.5 cents, compared to the six months to 31 December 2014 on an aggregate basis.
"This reflects solid portfolio performance and the delivery of significant merger benefits," Angus McNaughton, CEO and managing director, said.
“We are pleased with the performance of the Group in the first six months post merger.
“Key operating metrics have improved across the board.
"Portfolio occupancy strengthened in the half by 30 basis points (bps) to 99.2%.
"We have seen comparable specialty store moving annual turnover (MAT) growth improve to 3.4% and specialty occupancy costs remain largely unchanged.
"Comparable net property income (NPI) growth6 of 3.7% is up from 2.5% at June 2015, supported by fixed rental increases, strong growth in ancillary income and flat expenses.
“The improvement in our sales performance is pleasing considering that two of our prime assets, Chadstone and Emporium Melbourne, are not in the comparable reporting basket.
"At Chadstone, which is in the midst of a significant development, same-store MAT growth for specialties was 5 per cent.
"At Emporium Melbourne, monthly same-store specialty sales growth has been averaging 18% compared to the previous year.
“We have enhanced the quality of our portfolio in the period with the acquisition of two high quality centres and the sale of five non-core assets.
“Following the completion of a comprehensive review of our portfolio, we reiterated our strategic focus to create value and drive sustainable growth from a quality portfolio of Australian assets across the retail spectrum.
"We also announced the Group’s through the cycle financial targets of a total return of greater than 9 per cent per annum and underlying earnings growth of greater than 3 per cent per annum.
“We have set clear investment criteria for benchmarking our existing assets and potential acquisitions.
"As a result, $750 million to $1 billion of asset disposal opportunities have been identified, with asset sale proceeds to be reinvested into value accretive development and acquisition opportunities over time."
Three current projects at Colonnades, Halls Head Central and Warriewood Square remain on track to open by June 2016. There are also a further two minor projects (DFO South Wharf and Rockingham) totalling $21 million, which are forecast to have a blended year one yield exceeding 12% and an IRR exceeding 19%, that will complete later in this calendar year.
Development plans are well advanced at Mandurah Forum, with the project expected to commence in mid-2016, while planning for major redevelopments at Roselands and Galleria remains on program. 
</body></html>

Vicinity reports strong Emporium Melbourne sales growth

Leading Brisbane developer <a href="https://www.apartments.com.au/developers/consolidated-properties">Consolidated Properties Group (CPG)</a> has completed and settled $450 million worth of apartments at Monarch Residences in Toowong, marking one of Brisbane’s most significant and prestigious riverfront residential completions in recent years.

The final apartment at Monarch sold at auction on the 30th May for $4.1m.&nbsp;

The milestone has been marked at a ribbon-cutting ceremony at <a href="https://www.apartments.com.au/buildings/monarch-residences-toowong-600-coronation-drive-toowong-qld-4066">Monarch Residences</a>, with Cr Penny Wolff highlighting the importance of completing major residential projects to boost the city’s much-needed housing supply.

The 224 apartments, delivered across two 15-level towers, are now officially in the hands of owners, including Brisbane downsizers, families and professionals who have traded traditional houses for apartment living. The completion underscores sustained demand for absolute riverfront living in Brisbane’s inner west.

<img alt="$450M Monarch Residences sells out as Brisbane riverfront demand surges" data-entity-type="file" data-entity-uuid="56ae05e9-092f-41f0-98a1-a10984fdd171" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/ROBNN_MONARCHLAUNCHEVENT-131.jpg?VersionId=p76J6weGZqseNrE6aOAjmAHUah.y65Gd" />

Monarch Residences was planned and delivered over four years on a 1.2-hectare parcel with more than 130 metres of direct frontage to the Brisbane River, occupying one of the last remaining true riverfront sites of its scale and orientation within close proximity to the CBD. The site has been transformed from an underutilised, derelict block of land, into a thriving residential precinct with Middenbury House at its centre.&nbsp;

Consolidated Properties Group CEO and Chairman Don O’Rorke says the project’s completion represents the culmination of years of careful planning, design collaboration, market conviction and outstanding team delivery.

“We announced Monarch Residences in late 2021 and it’s been one of the most strongly received residential projects in our 45-year history,” Mr O’Rorke said.

"We are incredibly grateful to the outstanding team who helped bring Monarch Residences to life. A special thank you to Hutchinson Builders and their hardworking labour force for delivering a development of exceptional quality that our residents will be proud to call home for many years to come.

“Brisbane City Council and Titles Queensland also played a huge role in getting residents into their homes early through the pilot programs they ran to speed up the approval processes. They understand the challenges of the housing industry and are doing something about it.”&nbsp;

[smartcode_project:default project_id=113455 project_image_fid=211466]

Consolidated Properties Group Head of Residential, James MacGinley said Monarch Residences showed what could be achieved when private industry and government worked together to deliver new housing for Brisbane.

“Monarch Residences has delivered more than 200 new apartments in Brisbane’s inner-west at a time when additional housing supply is critically important,” MacGinley said.

“It’s fantastic to see residents now moving into this landmark riverfront development, which reflects the strength of collaboration between Council and the project team throughout delivery.

“All government agencies played a significant hand in achieving a fast-tracked outcome for Monarch Residences with Brisbane City Council, Urban Utilities, Energex and Titles Queensland assisted to remove hurdles to achieve settlements.”

[smartcode_project:default project_id=113455 project_image_fid=302326]

With Monarch Residences now complete, CPG has launched River Living, a bespoke on-site property management service designed to enhance the resident experience. The service will support all future CPG residential projects, including the recently announced <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> in Yeerongpilly and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a> in Newstead.

The completion also marks the opening of a prized leasing opportunity at the heritage-listed Middenbury House, built in 1865 and which has been carefully restored and integrated into the broader masterplan.&nbsp;

CPG said the adaptive reuse of the landmark riverfront residence presents an opportunity to introduce a complementary boutique tenancy that respects the site’s historic significance while activating the riverfront frontage.

[smartcode_project:default project_id=113455 project_image_fid=211495]

Colliers Director of Residential Andrew Scriven said the move-in phase highlights continued demand for completed premium riverfront apartments in Brisbane.

“Residents are now experiencing firsthand the scale, craftsmanship and irreplaceable riverfront position that Monarch offers,” Scriven said.

“Opportunities to secure a brand-new, completed residence on Brisbane’s absolute riverfront are exceptionally rare. Combined with the proven track record of Consolidated Properties Group and Hutchinson Builders, combined with a design vision brought to life by some of Australia’s leading architects and designers, Monarch represents a unique opportunity to purchase a home of enduring quality and prestige.”

Monarch Residences was designed in collaboration with Melbourne-based architect Wardle Studio, alongside leading national practice Cottee Parker, with construction delivered by Hutchinson Builders.

[smartcode_project_cta:default project_id=113455]

Joel Robinson

Consolidated Properties Group sells out Monarch Residences as Brisbane riverfront demand surges

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.

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]

Jonathan Chancellor

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News