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A Ritchies Supa IGA Supermarket in Taree sold recently to a Sydney eastern suburbs family for $7.82 million.
It reflected a 7% yield – possibly a record for a regional NSW supermarket, according to the Burgess Rawson selling agency.
It is leased to 2027 with options to 2047 guaranteed by ASX listed Metcash. With a building area of 3,126 square metres, it is adjacent to a council owned car park.
<a href="https://www.realcommercial.com.au/property-retail-nsw-taree-501490027" target="_blank">Its net income </a>is $545,939 per annum plus GST.
The same vendor secured $1.9 million for the adjacent Manning Street retail space rented to the Reject Shop.
It was a building area of 1,000 square metres with a net income of $145,880 per annum plus GST.
The two holding sold at $6 million in 2013 when JRDM Pty Ltd bought from Morgan &amp; Griffin Pty Ltd.
In 2013 fund manager Moss Capital, run by former Macquarie Bank director Bill Moss, acquired the Manning Mall in Taree from Mirvac for $32.6 million.
<a href="/expert-insights/investing/moss-capital-plans-more-shopping-centre-acquisitions-after-32-6m-manning-mall-taree-purchase">The sub-regional shopping centre</a> in the Mid North Coast NSW town has 11,300 square metres of retail space, anchored by Target and Coles.
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jchancellor-FAypfDUnLy

Taree IGA sells at $7.82 million

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How hot will it go?
Fire &amp; Rescue NSW have listed their former fire station, 259 Cabramatta Road, Cabramatta for sale at 2 May auction.
The district's first Fire Brigade was established at Cabramatta in January 1928 as Brigade Number 49 on Railway Parade.
The station was also known as Cabramatta-Canley Vale with the first permanent staff were appointed to the station in 1955. 
Cabramatta Fire Station was incorporated into the Sydney Fire Department in 1959. 
A new station was established in 1969 on West Cabramatta Road.
In 2000, Cabramatta Fire Station was located at 259 Cabramatta Road in West Cabramatta.
There's nothing flash about the firestation, so will be <a href="https://www.realcommercial.com.au/property-land+development-nsw-cabramatta-501513403" target="_blank">a knock down </a><a href="https://www.realcommercial.com.au/property-land+development-nsw-cabramatta-501513403" target="_blank">development</a><a href="https://www.realcommercial.com.au/property-land+development-nsw-cabramatta-501513403" target="_blank"> site </a>opportunity when sold by Colliers agent Harry Bui.
The 613 square metre site is located on the northern (eastbound) side of Cabramatta Road at the junction of Hill Street approximately 500 metres from Cabramatta Train Station and adjacent to the Public Council Car Park at the rear.
It is zoned B4 Mixed Use allowing retail, commercial and residential. There is a floor Space Ratio (FSR) 1.5:1 with maximum height limit of 10 metres.
His locals sales have included the BKK Shopping Centre for $20 million and the Cabramatta City Centre for $18.1 million.
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Former Cabramatta fire station to test development market heat

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The Cooinoo Peninsula, Singleton Mills, on the Hawkesbury River at Wiseman Ferry in NSW has been listed for sale with an $8.5 million asking price.
The three separate properties (1549 Singleton Mills Road, 1552 Singleton Mills Road and 1553 Singleton Mills Road) represent an opportunity to purchase the entire Peninsula.
The riverfront property is 39 hectares and located on the outskirts of metropolitan Sydney. There are three vendors who had progressively decided to list, and for sale as one, or part therein.
<a href="https://kathrynhallrealestate.com.au/listings/?listings=Sale" target="_blank">Kathryn Hall at Kathryn Hall Real Estate</a> has the offering combining water frontage, agricultural land and bush-land.
It includes an award winning holiday retreat with views of the sandstone escarpment.
There is also a historic timber slab cottage at Singleton's Retreat. The cottage was built in 1865 on one of the first settled properties in this part of the Hawkesbury River. It was originally owned by James Singleton who, with his brother Benjamin Singleton, operated the biggest tidal mill from the 1830s onwards.
Singletons Mill supplied flour grown from the local area which was taken by sail ship to the colony at Sydney Cove.
All three properties have access to the waters edge with a variety of slipways.
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Entire bushland riverfront Wisemans Ferry peninsula listed

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Australia's most expensive residential land market is the Richmond-Tweed region in New South Wales.
The latest HIA-CoreLogic RP Data Residential Land Report provided by the Housing Industry Association and CoreLogic RP Data, signals a growing divide between demand and available supply in vacant residential land.
“The number of residential land sales fell by 11.8% over the year to the December 2014 quarter,” said HIA chief economist, Harley Dale.
“In contrast, the weighted median residential land value increased by 2.8% in the December 2014 quarter to be up by 6.3% over the year.
“The increase in the weighted median value was driven primarily by Sydney, with significant growth also evident for Perth and Melbourne. As with all aspects of this housing cycle, there are wide divergences in land market conditions around the country – this is clearly evident across the six capital cities and 41 regional areas covered in the Residential Land Report.
“There is insufficient shovel-ready land in some markets and this is placing undue upward pressure on residential land values. Construction of detached houses looks to be peaking for the cycle, but there is unrealised demand out there because of that lack of readily available and affordable land."
According to CoreLogic RP Data research director, Tim Lawless, the number of vacant residential land sales has been trending lower since mid-2013 and concurrently, median land prices have been rising to new record highs.
“The opposing trends are a clear sign that demand is outweighing supply which is pushing land prices higher.
"Higher land prices ultimately lead to less affordable homes - it is the high cost of vacant land which significantly contributes to the increasing cost of housing.
"Ideally we should be seeing more land brought to the market and sold during this period of low borrowing costs.” 
<img src="/images/2015/04/21/hia-april-21-one.jpg" alt="">
Australia's least expensive land markets can be found in the South East region of South Australia, and the Mersey-Lyell and Southern regions of Tasmania.
<img src="/images/2015/04/21/hia-april-21-two.jpg" alt="">
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Australia's most expensive (and cheapest) regional land markets

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Grimes Cottage, at 50 Argyle Place in Millers Point, has been listed by the NSW government.
It is reportedly set to fetch more than $4 million at <a href="https://www.realestate.com.au/property-house-nsw-millers+point-119602867" target="_blank">its 21 May auction</a>.
The Colonial Georgian freestanding home comes with six bedrooms, north-facing garden, along with a self-contained studio flat.
There are views of the Harbour Bridge and The Rocks from its rear verandah.
Set on 416 square metres, the 1830s home was dubbed by the Australian Financial Review as a "jewel" within the social housing portfolio in the area.
McGrath agent Richard Shalhoub holds the listing.
To date, Government Property NSW has sold 12 out of the 293 properties that were used as government housing, fetching around $26.8 million.
The terraces along Kent Street, Argyle Place, Windmill Street and Lower Fort Street have fetched between $1.624 million and $3.95 million.
Minister for Family and Community Services, Brad Hazzard, recently announced that the money made from the sales had gone towards building 10 new two-bedroom seniors living dwellings in Lurnea in Sydney’s south west. 
The sales campaign, which is expected to generate more than $500 million for new housing projects outside the city,<a href="/news/nsw/millers-point-state-government-terrace-sell-off-resumes-post-election"> resumed </a><a href="/news/nsw/millers-point-state-government-terrace-sell-off-resumes-post-election">earlier</a><a href="/news/nsw/millers-point-state-government-terrace-sell-off-resumes-post-election"> this week</a> after the state election.
Grimes Cottage was built by whaler Charles Grimes who built a row of early 1840s terraces depicted in artist Conrad Marten’s work in 1843. 
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Grimes Cottage, Millers Point listed by NSW state government

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McGrath Estate Agents, started by high-profile chief executive John McGrath in 1988, has appointed Simon Mordant of Luminis Partners to advise on growth options, including a long rejected venture into Victoria.
According to an internal email <a href="https://www.afr.com/street-talk/mcgrath-appoints-luminis-to-advise-on-growth-options-20150421-1mpg8p" target="_blank">obtained by the Street Talk column at the Australian Financial Review</a>, McGrath is exploring a number of growth opportunities and methods for funding them.
"As part of this process, we've appointed Simon Mordant of leading independent advisory firm Luminis Partners to work with us on our company's long-term growth strategy," McGrath said in the email.
"Assembling the best team is always paramount to our success.
"As we grow our great company, we are now focusing on our move into Victoria.
"We are receiving strong enquiry from quality real estate businesses who have expressed their interest in partnering with us to extend our six-star service offering south of the border.
<a href="https://www.afr.com/real-estate/residential/mcgrath-mulls-buyback-amid-float-expectations-20141026-11c7m5">Street Talk reported last year </a>McGrath Estate Agents was exploring an initial public offering and also potentially buying out franchisees. 
McGrath Estate Agents has 62 offices across NSW, south-east Queensland and the ACT, most of which are franchises. 
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John McGrath finally thinks of venturing into Victoria

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Crown Group has revealed details of its $88-million residential tower, Crown Ashfield with design by architects Turner.
Located on Liverpool Road, the nine-storey development comprises 79 boutique apartments, plus four retail spaces, resident and visitors’ car parking, grand lobby lounge, theatrette, piano room and rooftop communal facilities including a terrace and a recreational area with spectacular city views.
Sales are set to begin on 23 May with the luxury development due for completion in mid-2016.
<img src="/images/2015/04/22/Crown%20Ashfield%20Interior%20%20-%20Dark.jpg" alt="">   Crown Group chief executive Iwan Sunito said Crown Ashfield will feature a forest interior concept along with the development’s internal atrium.
"The common areas will be bathed in natural light, lush greenery and first-class residents’ amenities," Sunito said.
Nicholas Turner, said Crown Ashfield’s design, took the metaphor of the tree to express the verticality of the facade screening and dramatic floating roof and also reference the natural, serene materials within the building.
“As one transitions from the street into the main foyer of the building, an unexpected experience of great surprise will be created through the revealing of an urban sanctuary; timber cladding, a reflection pool, planting all beneath a dynamic atrium space extending up to the roof," Turner said.
“Shafts of daylight will fill this foyer and an urban oasis is created."
<img src="/images/2015/04/22/150421%20-%20Crown%20Ashfield%20-%20Roof%20-%20Final%20-%202000.jpg" alt="">
There will be a residents’ lounge, piano room and theatrette.
Crown Group project sales manager Anthony Falas said there was a growing demand for high-end apartments in Ashfield.
Crown Group has not finalised pricing for the apartments, but Crown Group's Anthony Falas told The Australian Financial Review the company is looking at the starting mark of $700,000 for a one bedroom apartment.
"In my opinion, it's probably the most undervalued inner west suburb," Falas said.
Crown Group achieved an impressive $173 million in sales within four hours at the launch of Sydney by Crown in November, after reaching its $100 million sales target within two hours.
The revival of Sydney’s inner west location continues with CPM Realty’s marketing of the Ashfield Lumina, featuring apartments Located at 268–270 Liverpool Road.
Lumina (pictured below) is an eight storey boutique development offering buyers a selection of 61 apartments designed by Marchese Partners.
The Lumina has studio, one bedroom and one bedroom plus study apartments available, through CPM Realty’s Sam Elbanna.
<img src="/images/2015/04/22/-%20270%20Liverpool%20-%20external%20CGI_rs.jpg" alt="">
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Crown Ashfield aims to create an urban forest sanctuary

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A Melbourne based developer has paid $2.5 million for a prime residential development site at Moonee Ponds in Melbourne’s inner north in a private sale brokered by Savills Australia. 
Located at 21-23 Norwood Crescent, the 841 square metre property is located in a Commercial 1 Zone within the Moonee Ponds Activity Centre, allowing a four level development. 
The property, combining neighbouring residential sites, sold on the very strong rate of $2,973 a square metre for the land through selling agents, Savills’ Julian Heatherich and Jesse Radisich.
Heatherich said the sale was another example of adjoining homeowners successfully combining to create a larger development site and significantly increasing the value of each property.  
"Home owners are increasingly jumping on board this trend towards joining forces to produce fantastic results which individually they would not have been able to achieve,’’ he said.
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Adjoining home owners secure Moonee Ponds development site sale through Savills

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The tightly held Flinders rural icon, Pinnacle Park has been listed for sale.
Offers are due 15 June <a href="https://www.realestateview.com.au/Real-Estate/flinders/Property-Details-buy-residential-8683288" target="_blank">with Kay &amp; Burton</a>. More than $15 million is likely.
"It represents a once in a generation opportunity," listing agents Andrew Hines and Gerald Delany said.
The cliff top estate with three homes comprises 70 hectares - 174 acres - of rural land with six green wedge titles.
With frontage onto Bass Strait, it has operated as a cattle-grazing farm.
The property is currently exempt from land tax.
Pinnacle Park is available for the first time in more than 55 years since bought by the McHale family, best known for their association with the Collingwood AFL club.
Back in 2006 Gerald Delany sold the 20-hectare property at 4445 Frankston-Flinders Road, known as Solitaire, for $8.65 million.
The vendor, John Nilsen was the former owner of the former radio station 3UZ who had paid less than $1 million for the property two decades earlier.
Flinders last big sales involved fund manager Richard Fish and his wife Anne who bought from barrister John Walker for $10.25 million and sold their estate on 22 hectares on Punchbowl Road, Kaloon Park through Andrew Hines for $3.6 million last October.
 
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Clifftop Flinders rural icon Pinnacle Park listed

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RBA board members remained alert to the possibility that the low levels of interest rates could foster imbalances in the housing market, the latest minutes showed.
"The most recent data suggested that activity in the housing market had remained strong, but there had been little change to housing market conditions overall or in the growth of housing credit in early 2015," the minutes read.
"Although prices continued to rise rapidly in Sydney and, to a lesser extent, Melbourne, trends elsewhere were more varied. 
"Members noted that the Bank was working with other regulators to assess and contain risks arising from the housing market."
The minutes noted overall members considered that the current setting of monetary policy was accommodative and providing support to the economy. 
They also acknowledged that a lower exchange rate would help achieve more balanced growth in the economy. 
"Further depreciation of the Australian dollar was likely given the recent declines in key commodity prices."
In considering whether or not to reduce the cash rate further at this meeting, members discussed the various channels through which monetary policy was affecting the economy at present, including the asset price and exchange rate channels.
"In assessing the operation of the cash flow channel in particular, they noted that the responsiveness of borrowers and savers to changes in interest rates and asset prices was unusually uncertain in a world of very low interest rates and high household leverage.
"Members also saw advantages in receiving more data, including on inflation, to assess whether or not the economy was on the previously forecast path and allowing more time for the economy to respond to the reduction in the cash rate earlier in the year."
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RBA on watch for housing market imbalances and risks: RBA April meeting minutes

One of Brisbane's last major riverfront redevelopment opportunities has taken a significant step forward, with Lendlease selected as the Queensland Government's preferred development partner for the former Visy site in South Brisbane.

The seven-hectare industrial site, positioned between South Bank and West End and 1.3 kilometres from the Brisbane CBD, will be transformed into a mixed-use precinct expected to deliver more than 4,000 new homes alongside extensive public open space and riverfront parkland.

The project is one of the largest urban renewal opportunities currently planned in Brisbane and is expected to play a key role in accommodating the city's growing population ahead of the 2032 Olympic and Paralympic Games.

Plans for the precinct include a network of riverfront promenades and boardwalks, new public plazas, parkland, amphitheatre-style gathering spaces and shared pedestrian and cycling links designed to reconnect the long-isolated site with the Brisbane River.

The Queensland Government is targeting delivery of the first homes and key public spaces before the 2032 Games, allowing the precinct to begin contributing new housing and public amenity well before the broader masterplan is complete.

The redevelopment is also expected to support more than 3,000 jobs across planning, construction and ongoing operations.

For Lendlease, the appointment adds another major urban regeneration project to its Queensland portfolio. The developer has operated in the state for more than 70 years and has delivered a number of large-scale mixed-use precincts in partnership with government.

Lendlease Development CEO Claire Johnston said the project represented one of Brisbane's most significant redevelopment opportunities.

"The transformation of the former Visy site represents a rare opportunity to reimagine one of Brisbane's most significant riverfront locations, deliver thousands of much-needed homes, and create long-term legacy," Johnston said.

"In partnership with the Queensland Government, we have the opportunity to create a new riverside destination that will help shape Brisbane's growth and how people experience the city for decades to come.

"This is exactly the type of large-scale, city-shaping development that will provide lasting benefits for Queensland, bringing together housing, jobs and world-class public spaces."

Deputy Premier and Minister for State Development, Infrastructure and Planning Jarrod Bleijie said the riverfront transformation would deliver a thriving new community precinct.

“The Crisafulli Government is delivering this golden opportunity to unlock a riverfront jewel for all Queenslanders,” Deputy Premier Bleijie said.

“This is a once-in-a-generation moment to reshape a significant slice of Brisbane and deliver lasting benefits – thousands of new homes, and public spaces for all Queenslanders to enjoy well beyond the 2032 Olympic and Paralympic Games – unlike Labor’s plan which would have delivered zero benefits and zero new homes.

“Queensland is well and truly open for business and through partnership with the private sector, we are accelerating delivery while ensuring strong housing, community and economic outcomes."

Early works on the precinct are expected to commence in April 2027.

Joel Robinson

Lendlease selected to deliver transformative South Brisbane riverfront precinct

Eddy Haddad's <a href="https://www.apartments.com.au/developers/level-33">Level 33</a> is levelling up its approved Wollongong development, as the coastal city south of Sydney continues to prove popular in the high-density development space.

Level 33, a longtime developer in the Wollongong area, has gone through the NSW Government's Housing Delivery Authority to upsize its approved two-tower development on the corner of Crown Street and Gladstone Avenue, just 100 metres from Wollongong Station.

The developer currently has approval for 252 apartments across two buildings rising to 19 storeys. It is now seeking approval for 33 and 38-storey towers that would deliver 467 apartments, including 67 affordable homes.

Designed by <a href="https://www.apartments.com.au/architects/bka-architecture">BKA Architecture</a>, the development would comprise apartments above a three-level podium with around 1,100 sqm of retail space, along with basement parking for 448 vehicles.

According to the Urban Design Report by BKA, the proposal has the capacity to "reinforce the precinct's identity by strengthening links between health, education, and transport services, while also contributing to Wollongong's ongoing evolution as a key regional centre."

Wollongong is somewhat in vogue. Between Level 33 and Urban Property Group, the two developers have several thousand apartments planned across the city.

Level 33 is currently delivering Easterly Wollongong, one of its most boutique projects to date with just 21 high-end apartments, as well as Atchison &amp; Kenny, a 329-apartment development due for completion later this year.

The developer plans to redevelop the 13,088 sqm WIN Grand megasite into <a href="https://www.apartments.com.au/new-apartments/crown-square-216-238-keira-street-wollongong-nsw-2500">Crown Square</a>, a new $500 million precinct with nearly 600 apartments. It also has more than 900 apartments planned for the former Bunnings Warehouse site at the intersection of Gipps and Flinders streets.

Urban Property Group is also playing a major role in the city's transformation. Its five-tower Keira Place precinct will deliver more than 800 homes, and it has recently lodged plans for a further 300 apartments near Wollongong Station.

First look: Level 33 upsizes Wollongong apartment towers

Just a week after filing plans for the final stage of its major Keira Place masterplan, <a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has unveiled another significant housing proposal in Wollongong, this time targeting a prominent site opposite North Wollongong Station.

The developer has lodged a State Significant Development Application for a 38-storey mixed-use tower at <a href="https://www.apartments.com.au/new-apartments/4-4a-flinders-street-north-wollongong-nsw-2500">4-4A Flinders Street</a>, around one kilometre north of the <a href="https://www.apartments.com.au/new-apartments/keira-place-wollongong-120-122-smith-street-wollongong-nsw-2500">Keira Place precinct</a> currently taking shape on the edge of the CBD.

<img alt="First look: Urban Property Group plans 38-storey North Wollongong tower as Keira Place expansion gathers pace" data-entity-type="file" data-entity-uuid="2b6428f1-6405-4038-8476-897de440e90d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/flinders%20podium.png?VersionId=QLqEvK0OuCEwRC47oHNftrw2B1YqaHF8" />

Designed by Studio.SC, the proposal comprises a 38-storey mixed-use development containing 303 apartments, including 45 affordable housing units, alongside 174 co-living residences. The scheme also includes ground-floor retail space, extensive landscaping and public domain improvements.

Studio.SC noted in the proposal it "outlines a vision for a landmark transit-oriented mixed-use development centred around North Wollongong Station, designed to support the city’s future growth while responding to the NSW Government’s housing and planning reforms."

The architecture firm said the proposal responds to the opportunities and constraints shaping future growth within the 400-metre catchment of the station and represents "a coordinated and future-focused approach to urban intensification, contributing to the long-term evolution of North Wollongong as a connected, walkable and high-density station precinct."

The site occupies a strategic corner bounded by Flinders Street, Station Street, Stafford Street and the Princes Highway, directly opposite North Wollongong Station.

<img alt="First look: Urban Property Group plans 38-storey North Wollongong tower as Keira Place expansion gathers pace" data-entity-type="file" data-entity-uuid="7863adad-1f71-4022-b850-f44b252738fd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/flinders%20podium%20a.png?VersionId=WsU7av0g8_8R2tGHWxgHeFSlhu7yeY1V" />

The proposal follows Urban Property Group's recent submission for the second and final stage of Keira Place, which would deliver a further three buildings comprising 657 homes opposite Beaton Park. It builds on the first stage, which features 150 apartments across two towers and recently commenced construction.

Urban Property Group CEO Patrick Elias said breaking ground on the first stage marked a significant milestone for Wollongong and reflected the developer's long-term commitment to regional cities.

"Today's groundbreaking is about turning approvals into homes and moving quickly to deliver much-needed housing in Wollongong's city centre," Elias said.

"Keira Place will provide a diverse mix of homes close to jobs, transport and services, while setting a high benchmark for quality, durability and consumer protection."

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/urban-property-group-unveils-trio-of-towers-for-next-stage-of-new-wollongong-precinct-keira-place">Urban Property Group unveils trio of towers for next stage of new Wollongong precinct, Keira Place</a>

First look: Urban Property Group plans next major Wollongong tower

<a href="https://www.apartments.com.au/developers/arada">Arada Australia</a> has wasted little time expanding its ambitions in Campsie, lodging plans for a second major project in the rapidly transforming town centre just months after unveiling its three-tower One Campsie proposal on Beamish Street.

The UAE-backed developer has now taken aim at one of the suburb’s most strategically positioned sites, filing a State Significant Development Application for a <a href="https://www.apartments.com.au/new-apartments/10-north-parade-campsie-nsw-2194">33-storey mixed-use tower</a> at 10 London Street and 43 North Parade, directly opposite the future Campsie Metro Station. The proposal is currently on public exhibition and represents another significant vote of confidence in Campsie's emergence as one of Sydney’s key transit-oriented growth centres.

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, the development would deliver 156 apartments above a podium containing retail and commercial space, creating a new residential and commercial gateway to the town centre. The scheme also includes a four-level above-ground parking podium and a dedicated residential amenity floor featuring wellness and recreation facilities. At least 10 per cent of the apartments would be allocated as affordable housing for a period of 10 years.

The proposal occupies a 1,631 sqm site bounded by London Street, North Parade and Dispensary Lane, immediately adjoining the future Metro station precinct and just metres from Beamish Street’s retail and dining strip. According to the Urban Design Report, the project seeks to deliver "a great place that prioritises human-scaled experience and provides spatial improvements to the area."

<img alt="First look: Arada doubles down in Campsie with 33-storey Metro-front tower plans" data-entity-type="file" data-entity-uuid="175a8324-015b-4856-abe3-ce6f23199fa7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/podium%20campsie.png?VersionId=742UGwXFhFBX4GEl6wX4PYIWREAgn6il" />

Woods Bagot describes the tower as a key marker within Campsie's next phase of growth.

"Located directly opposite the new Campsie Metro Station on North Parade, 10 London Street is a thoughtfully composed 33-storey mixed-use tower that contributes to the ongoing transformation of the town centre," the Architectural Design Report states. The report says the project is intended to provide "high-quality homes within a vibrant, connected urban environment, while helping define Campsie's future skyline."

A strong emphasis has been placed on the public realm. The ground floor incorporates over 500 sqm of retail space and active frontages along both London Street and North Parade, while the podium is wrapped by extensive landscaped planting intended to soften the building's scale and strengthen the pedestrian experience. The development would also widen surrounding footpaths and improve connections between the Metro station and the broader town centre.

Above the podium, residents would have access to more than 1,400 sqm of communal amenities, including a pool, gym and landscaped recreation spaces. A distinctive green-wall treatment extending across four podium levels forms a major architectural feature, helping differentiate the project within the emerging high-density precinct.

The tower's design is closely tied to the broader Campsie Town Centre Master Plan and the arrival of Sydney Metro. The Urban Design Report notes the proposal "directly supports the Campsie Town Centre Master Plan by delivering new homes in a location explicitly identified for growth, improved accessibility, and high-quality urban renewal." It adds that the project contributes to the master plan's vision for a strengthened town centre supported by thousands of new homes around the future Metro station.

<img alt="First look: Arada doubles down in Campsie with 33-storey Metro-front tower plans" data-entity-type="file" data-entity-uuid="bfd17654-253e-489a-bade-6278d63db412" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/base%20campsie.png?VersionId=3roJPMQGs36dazpkhvpvbDDP73Ld.Ica" />

The application follows Arada Australia's recently lodged One Campsie project at 124–142 Beamish Street and 16–18 Ninth Avenue, where the developer is seeking approval for 346 apartments across three towers rising 24, 32 and 39 storeys. Together, the two proposals would cement Arada Australia as one of the most influential developers shaping Campsie's future urban form.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-arada-files-for-trio-of-apartment-towers-in-campsie-town-centre">First Look: Arada Australia files for trio of apartment towers in Campsie town centre</a>

Arada Australia entered the Australian market in 2024 and has rapidly assembled a significant development pipeline across Sydney. Alongside its Campsie holdings, the developer is soon to launch <a href="https://www.apartments.com.au/new-apartments/wattle-green-2-fishburn-crescent-castle-hill-nsw-2154">Wattle Green</a> in Castle Hill, and has expanded its local operations following its acquisition of construction firm Roberts &amp; Co.

Located around 14 kilometres south-west of the Sydney CBD, the site sits at the centre of one of Sydney's fastest-changing middle-ring precincts. The Metro conversion of Campsie Station, combined with Canterbury-Bankstown Council's master planning framework, is driving significant residential intensification around Beamish Street and North Parade, with thousands of new homes expected over coming decades.

First look: Arada Australia doubles down in Campsie with 33-storey Metro-front tower plans

For the first time in a long time, Australia's inflation story is starting to look more like a landing than a fight.

The latest Consumer Price Index figures from the Australian Bureau of Statistics showed annual inflation eased to four per cent in May, down from 4.2 per cent in April. On the surface, that might not seem like a major move. Inflation remains above the Reserve Bank's target range and some categories continue to record stubborn price growth.

But the significance of this result lies less in where inflation sits today and more in what it means for where interest rates are likely heading next.

The biggest takeaway is that inflation continues to move in the right direction.

Markets had been bracing for another sticky result after a period where progress appeared to stall. Instead, headline inflation came in softer than expected, helped by falling fuel prices and easing transport costs. Annual transport inflation halved from 6.6 per cent in April to 3.3 per cent in May, while automotive fuel prices fell 11.9 per cent during the month following lower oil prices and the impact of reduced fuel excise measures.

While petrol prices don't solve Australia's affordability challenges, they are one of the most visible and immediate costs for consumers. Falling fuel costs feed through the economy quickly, helping ease pressure on household budgets and business operating expenses.

The ABS data also showed headline inflation is now sitting at its lowest annual level in several months, reinforcing the broader trend that price growth is gradually moderating.

That trend is important because it aligns with what many economists and lenders have been saying for the last month.

Prior to this week's inflation data, ANZ, NAB and Commonwealth Bank had all shifted their forecasts, now believing the Reserve Bank had likely reached the peak of the interest rate cycle. Following the May inflation release, ANZ reaffirmed that view.

In its latest economic update, ANZ said it expects quarterly trimmed mean inflation to come in at 3.7 per cent for the June quarter, slightly below the Reserve Bank's forecast of 3.8 per cent. Importantly, the bank said that outcome, when combined with slowing economic activity, "supports our view that the cash rate has peaked".

The Reserve Bank has spent the better part of three years attempting to bring inflation under control through higher interest rates. If Australia's major banks are correct and rates have now peaked, the conversation shifts from how much higher rates could go to when they might begin coming down.

Westpac's caution comes from underlying inflation. The trimmed mean, the measure most closely watched by the Reserve Bank, increased from 3.4 per cent to 3.6 per cent annually. Housing inflation remains elevated at 6.5 per cent, reflecting ongoing increases in rents, electricity costs and new dwelling construction.

Electricity prices remain particularly problematic, rising 21.1 per cent over the past year following the removal of government rebates.

Housing construction costs are also showing signs of renewed pressure. ANZ noted new dwelling costs rose 0.9 per cent in May and are now running at an annualised pace of 8.6 per cent over the past three months. Builders continue to face higher labour, fuel and material costs, a reminder that inflationary pressures have not completely disappeared.

Housing affordability has deteriorated largely because of higher interest rates rather than higher property prices alone. Even modest reductions in mortgage rates would improve borrowing capacity, increase buyer confidence and reduce repayment pressure on existing homeowners.

While August is far from a certainty, the latest inflation result has strengthened the view that the next move in rates is more likely to be down than up. For borrowers, buyers and the development sector, that alone represents a significant shift from the conversation that dominated much of the past two years.

Jonathan Chancellor

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