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Australian blue chip shares typically provided better tax breaks, less effort and lower costs than property, but investors still are still flooding the booming Sydney property market.
Fully franked dividend income from top-performing bank shares typically provide more than double the rental income from a Sydney house before management fees and maintenance costs, suggests Tony Bates, joint principal of Bluepoint Consulting, an advisory group that specialises in high-net-worth clients.
"The income that lands in your pockets is much better from shares than it is from houses, and a substantial part of the difference is tax and costs," Bates told the Australian Financial Review in an article on the income dilemma for those who have traditionally relied on fixed-term deposits to contribute to their income.
Bates undertook a comparison of income returns from term deposit accounts, blue chip shares and an investment property.
An $800,000 investment in a 12-month term deposit with Westpac Bank offering about 3% will pay about $24,800 on maturity, or around $476 a week.
Alternatively, an investor might consider investing $800,000 in a three-bedroomed house (rather than typical two bedroom unit) on the outskirts of Sydney, paying weekly rental income of about $600, which is $31,200 a year.
The investor would be left with about 3%, or around $450 a week, after agent's fees, land tax and maintenance costs. The third investment scenario involved about 21,000 Westpac shares which will pay about $41,800, or more than $800 a week, plus franking credits of $17,600, or around $340 a week – a total return of more than $1,140 a week. 
"So if you can imagine $800,000 of Westpac shares as a rental property, it will cost you less to buy, nothing to maintain and it will pay about $1140 per week in your pocket, compared with somewhere between $450 and $600 per week from the property," Bates suggested.
Of course one of the reasons property has become popular is spreading the risk as the focus on high-yielding stocks exposes investors to heightened ‘concentration risk’, as well as to the normal equity risk of the share market.
The broking firm Credit Suisse estimated recently that since June 2005 the self managed super funds have ploughed $121 billion into shares – equivalent to one-third of net new equity issuance over the period.
With about 32% of their assets held in Australian shares, Credit Suisse says SMSFs now own more than 16% of the Australian share market, or about $229 billion worth of shares.
Andrew Aitken, Bennelong Funds Management’s head of distribution, noted because super funds have a lower tax rate than the company tax rate of 30%, they receive cash rebates of the franking credits that they’re unable to use to offset their tax.
"If an SMSF is in ‘accumulation phase’, its tax rate is 15% and it gets a partial tax refund of $215 for every $1,000 of fully franked dividends it receives. For such investors, a dollar of fully franked dividend income is effectively worth more than a dollar," said Aitken.
"It is even better when the SMSF moves to ‘pension phase’; that is, it is paying pensions to its members.
"The assets are held in the fund’s ‘pension account’, which means they are being used solely for the purpose of paying out a pension.
"In this instance, there’s no tax on the income or capital gains from the assets and the franked dividends can actually be refunded fully by the ATO.
"The fund gets a tax refund of $429 for every $1,000 of fully franked dividends it receives, which can turbo-charge the nominal dividend yield quite spectacularly."
For example, on market consensus forecasts, Telstra is expected to pay a fully franked dividend of 32.2 cents in FY16. At a share price of $6.60, that dividend would represent a nominal dividend yield of 4.9% – more than attractive when the official interest rate is 2.25%, and a one-year term deposit will pay you about 3.3%.
But to an SMSF in accumulation phase, that nominal yield of 4.9% becomes – courtesy of the partial franking credits rebate – effectively the equivalent of 5.9%. And to a pension-paying fund, receiving a full rebate of the unused franking credits, Telstra’s effective yield rises almost to 7%. In a low interest rate environment, that is a massive attraction.
SMSFs investing for yield in this way account for a massive chunk of the self-managed funds’ share of the sharemarket. Telstra and Commonwealth Bank are some of the SMSFs’ favourite stocks: as at their most recent annual reports, Telstra has 1.4 million shareholders, while CBA has 770,000.
Other popular blue-chip ‘income’ stocks include Westpac (596,000 shareholders), National Australia Bank (533,000), ANZ Bank (500,000), Wesfarmers (514,000) and Woolworths (441,000). Add BHP (555,000 Australian shareholders) and Rio Tinto (207,000 Australian shareholders) and you have about 60% of the Australian market’s value.
"That is unacceptably high concentration risk," Aitken concluded.
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jchancellor-FAypfDUnLy

Shares, term deposits v property: The search for yields

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There was 20% annual growth achieved on a recent Sylvania Waters flip.
<a href="https://www.mcgrath.com.au/buy/house-sylvania-waters-nsw-2224/250586/?searchID=48403317" target="_blank">The house</a> sold at auction for $1,441,000 after an update. 
<img src="/images/2015/04/07/sylvania%20waters%20april%207%20two.jpg" alt="">
This was the house in <a href="https://www.mcgrath.com.au/buy/house-sylvania-waters-nsw-2224/221941/?searchID=48403317" target="_blank">April last year</a> sold at $1.2 million.
The place had been spruced up during the unintended quick flip.
Bidding on 9 Roper Crescent opened at $1.1 million.
<img src="/images/2015/04/07/sylvania%20waters%20april%207%20three.jpg" alt="">
It was signalled as on the market at $1,436 million.
There were four bidders, but just two for the last $200,000 or so.
<img src="/images/2015/04/07/sylvania%20waters%20april%207%20four.jpg" alt="">
David Greig at McGrath Sylvania Waters told Property Observer that there were six registered parties on the four bedroom, two bathroom house.
There was $1.2 million plus price guidance on the part two storey house with rear oasis-like swimming pool with Travertine and palm surrounds.
Sylvania Waters is the suburb where the governor of the Reserve Bank Glenn Stevens resides.
The governor, too, owns a non-waterfront property; it's a two-storey house on 657 square metres which was bought in 1993 for $312,500.
Given price growth and renovations over the past 16 years, he could also recoup over $1 million.
"My house is not a fibro house, but it is a piece of spec rubbish built in the 1970s, and in many respects it shows that," Stevens told a 2007 House of Representatives hearing.
Back in the 1950s, Gwawley Bay oyster farmers sold out to the developer Jim Goyen, who constructed the suburb on land reclaimed from the Georges River.
After installing an eight-kilometre concrete retaining wall, more than 2 million cubic metres of shell-strewn sand was dredged during the 1 million pound infrastructure scheme.
The local council approved the development, with privately owned waterways, after sending the shire engineer to Florida Keys in the US to see how it could be done.
Property Observer noted there are diminishing numbers of original buyers remaining in the 50 year old houses, but some turned up to the recent auction.
The suburb's record was set at $4.6 million in 2004. The six bedroom, six bathroom house in the governor's street is on an unusually large 1,290 square-metre block on the open waters. 
There was one residence aiming for a waterfront record with $4.8 million expectations. The two-storey James Cook Island residence featured as Lois Lane's home in the 2006 movie Superman Returns. But it sold at $3.55 million in 2013, after four years on the market, unable to withstand the kriptonite effect of the global financial crisis.
It is among the last seven sales above $3 million that have all gone to buyers of Chinese descent since 2010.
Loss-taking was the norm on the waterfront after the global financial crisis. Four 2009 sales reflected losses between 6% and 25% on their purchase price. 
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Sylvania Waters flip yields 20% price growth under the RBA Gov's near watch

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Ena, the finest steam yacht in Australia, has been listed for sale. It is marketed as one of only three remaining in the world. 
It was built in 1901 by Watty Ford for Sir Thomas Dibbs, commodore of the Royal Sydney Yacht Squadron. Its name is taken from Dibbs’ wife Tryphena.
It was designed by Walter Reeks.
Reeks also designed his own house Twynham in Mosman in the late 1880s, and died there aged 64 in 1925.
Shortly after its launch, it undertook war service as HMAS Sleuthin in World War I in the Torres Strait. 
Ena had sank in the waters near Hobart in 1981 after hitting a submerged object. She was then salvaged and bought back to Sydney where it is believed $4 million was spent on her purchase and re-fitting. 
After its mid-1980s restoration to her former Edwardian glory, notoriety followed the ship during its ownership by miner Pat Burke and his former chums Rene Rivkin and David Baffsky. 
The yacht was moored in Sydney for 25 years but it now calls Melbourne home with owner Warwick Turner saying “steam is something that just gets in your blood”.
The steam yacht Ena once circumnavigated Australia, spending some time in Perth for the America's Cup.
The yacht incorporates timbers from HMS Nelson, launched in Britain in 1814.
Its designer, Walter Reeks was responsible for other icons of Sydney Harbour including the steam yacht, Boomerang.
The 29 metre steam yacht has been listed by <a href="https://www.mossgreen.com.au/content/ena-australias-finest-steam-yacht/" target="_blank">Paul Sumner at Mossgreen</a>. 
It was listed as an item of movable cultural heritage, which would require an export licence. The auction will take place at Mossgreen on 19 May.
"We are keen to find a buyer in Australia anyway," says Paul Sumner who is quoting $1.2 million plus.
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Ena, the Edwardian steamship, listed for auction

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The Real Estate Institute of Queensland (REIQ) has quit the Real Estate Institute of Australia (REIA).
REIQ chairman Rob Honeycombe confirmed the organisation had left the REIA, effective 30 March.
Property Observer reported last month its resignation was imminent <a href="/news/any-reiq-split-from-reia-is-short-sighted-michael-davoren">in a</a><a href="/news/any-reiq-split-from-reia-is-short-sighted-michael-davoren"> column by a former REIQ president</a>.
REBonline now reports Honeycombe told REIQ members that Queensland was not getting value for money from the $260,000 annual contributions.
“Our resignation from REIA was not a decision your board took lightly, but we will not continue spending your member funds where we do not see sufficient return on investment,” he wrote in a letter to REIQ members.
“Businesses need to evolve – our agencies do this continually. REIQ must do this, too. Similarly, we think it’s time for REIA to return to a member-focused and more efficient organisation.”
Honeycombe said there have been ongoing discussions about changes to the REIA since NSW left the national body in 2012.
“In March 2014, the REIQ asked the other real estate institutes to consider the option of a smaller, more efficient REIA team with a sole focus on lobbying and policy,” he said.
“As a board member of REIA, I continued this conversation at all REIA meetings during 2014 and again earlier last month when the REIA board met in Perth.
“Despite initial resistance, we’re really encouraged the real estate institutes have now agreed to come together this month – importantly, with NSW representatives – to explore a new model for the national body.”
 
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REIQ joins REINSW in quitting REIA

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The Easter weekend's priciest auction offering, Lido at Portsea (pictured above), didn't sell at 148 Back Beach Road.
Kay &amp; Burton had Lido, a classic two storey holiday home with plenty of accommodation, decking, swimming pool and private gardens on 1,500 square metres with views over <a href="https://www.realestateview.com.au/Real-Estate/148-150-back-beach-road-portsea/Property-Details-buy-residential-8445140" target="_blank">Port Phillip Bay and the Southern Peninsula coastline</a>. But it did not sell.
But plenty of low-key sales were achieved, especially at Victoria's coastal locations, and most came with undisclosed auction and private treaty prices.
Disclosed auction sales on Saturday and Sunday peaked with a cottage sale of $395,000 at St Andrews Beach. It last sold in 2007 at $270,000.
The <a href="https://www.realestateview.com.au/Real-Estate/31-tiberius-road-st-andrews-beach/Property-Details-buy-residential-8433254" target="_blank">31 Tiberus Street, St Andrews Beach</a> was a permanent rental at $230 a week. It was listed with $295,000 plus price guidance through hockingstuart.
Land sales ranged up to a $265,000 block of land at San Remo.
There were no bids when 8 River Reserve Road, Aireys Inlet was put to auction, having been listed with $950,000 plus hopes.
<a href="/expert-insights/buying/fairhaven-clifftop-house-sells-for-3-million-before-easter-auction">A Fairhaven holiday house has sold for $3 million</a> before its scheduled Easter Sunday auction.
The double storey home at Lialeeta Road was listed with $2.75 million to $3 million price expectations by Marty Maher and Mim Atkinson of Great Ocean Properties Aireys Inlet.
Kay &amp; Burton secured <a href="https://www.realestateview.com.au/Real-Estate/4-benjamin-parade-blairgowrie/Property-Details-sold-residential-8444826" target="_blank">a Blairgowrie sale</a> at an undisclosed price. It last sold in 2007 at $1.23 million.
A Talbot Street, Barwon Heads house sold at an undisclosed price as did 41 The Esplanade, Portarlington, which had been a private treaty offering with $849,000 hopes.
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Low key coastal Victorian Easter auction results

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Caydon has acquired the former local market Moonee Ponds site with plans to create a $650 million apartment, retail and office project.
News Ltd reports the price was around $45 million.
It was sold by the joint owners Leighton Properties and Qualitas, who had paid $23 million last year.
Located at 40 Hall Street and 34-36 Margaret Street, the Moonee Ponds site has a concept plan for a multi-staged development comprising about 1,200 apartments.
Leighton Properties and Qualitas acquired the 1.34 hectare site from Reading International in October 2013. 
The US-based Reading Cinema chain sat on what was a car park for 15 years ago having bought it with the hope of building a landmark entertainment complex. 
The land was permitted in 1997 to become a 12-screen cinema complex which rival Hoyts went to VCAT to prevent being built.
In 2012 after not receiving any formal building application, the Moonee Valley Council demanded Reading sell the site as the suburb ranks in the state government's Melbourne 2030 planning policy as an activity centre.
Caydon has other major inner city projects planned including Flemington.
There was its late 2014 acquisition of <a href="/expert-insights/buying/leaps-and-bounds-as-caydon-buys-the-richmond-malt-complete-with-nylex-clock">the Richmond Malt site </a>on the fringe of the Melbourne CBD.
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Caydon buys Moonee Ponds market site

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Melbourne's Dockland topped the week's top sales, according to CoreLogic RP Data.
<a href="https://www.realestateview.com.au/Real-Estate/70-southwharf-drive-docklands/Property-Details-buy-residential-8403032" target="_blank">It was a townhouse</a> that fetched $6.1 million.
The five bedroom South Wharf Drive property located at the end of a row on the Yarra's Edge has four levels.
City Residential Real Estate Docklands agent Glenn Donnelly had it for sale at $6.4 million since late February.
It last traded at $6.65 million in June 2011 off the plan setting in August 2012.
It was available for rent in early 2014 at $2400 a week by its Mulgrave investor.
The weekend's top 10 sales:
<ol>
<li>70 South Wharf Drive, Docklands, VIC, 3008, five-bedroom house, sold on April 1 by City Residential Real Estate Docklands for $6.1 million</li>
<li>8 St Georges Crescent, Ashburton, VIC, 3147, six-bedroom house, sold on March 31 by Hocking Stuart Glen Iris/R T Edgar Toorak for $5.8 million</li>
<li>12 Kenneth Street, Tamarama, NSW, 2026, three-bedroom house, sold on March 31 by McGrath Estate Agents for $4.005 million</li>
<li>40 Cowles Road, Mosman, NSW, 2088, four-bedroom house, sold prior to auction on March 31 by Richardson &amp; Wrench Mosman Neutral Bay for $3.125 million</li>
<li>212 Terry Street, Connells Point, NSW, 2221, five-bedroom house, sold on April 2 by Ramsey Property Kyle Bay for $3.1 million</li>
<li>23 Grove Street, Unley Park, SA, 5061, four-bedroom house, sold on March 31 by Cocksauld Real Estate Unley for $2.95 million</li>
<li>47 Surrey Street, Darlinghurst, NSW, 2010, five-bedroom house, sold at auction on March 31 by Bresicwhitney Darlinghurst for $2.95 million</li>
<li>69 Bungan Head Road, Newport, NSW, 2106, four-bedroom house, sold on April 1 by L J Hooker Mona Vale for $2.85 million</li>
<li>50 Gordon Street, Paddington, NSW, 2021, four-bedroom house, sold at auction on March 31 by Di Jones Real Estate Woollahra for $2.7 million</li>
<li>2 Avalon Street, Turramurra, NSW, 2074, five-bedroom house, sold on April 2 by L J Hooker Wahroonga for $2.62 million</li>
</ol>
Source: CoreLogic RP Data
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Melbourne Docklands townhouse tops week's sales with $6.1 million price

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The latest Armadale offering, 6 Flete Avenue, has been advertised in the weekend Financial Times 'Houses and Home' section.
The property was built on the 1,120 square metre grounds of the former Yooralla site.
There will be <a href="https://www.abercrombys.com.au/armadale-6-flete-avenue-ab3147/" target="_blank">a 13 May private auction</a> through Abercromby's of the five bedroom, six bathroom trophy home designed by Ralph Chalmers complete with central lift, hydronic heating amid home automation.
Its northerly rear gardens designed by Carolyn Blackman come with pergola dining space, dual BBQ kitchens and a solar/gas heated pool and spa. 
<a href="https://www.youtube.com/watch?v=HAVbMkAWXAo&amp;feature=youtu.be" target="_blank">Its video</a> says it has immediate street appeal. 
{qtube vid:=HAVbMkAWXAo&amp;feature}
The Flete Avenue site was formerly owned by the Yooralla Society of Victoria, with David Crammond paying $7 million in 2001. Crammond the subdivided off this part of the land securing $2.2 million in 2006. The house construction was underway in 2006.
The extensivly renovated original mansion, Flete House sold again in 2006 to Michael Wong for $13.75 million. 
Flete House was built for former Supreme Court judge Sir Hartley Williams in 1883. It was later owned by Eleanor Latham, the wife of a former chief justice of the High Court, Sir John Latham.
Flete House was also a women's hostel for the Melbourne Bible Institute.
 
 
 
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Abercromby's advertise Armadale trophy home in the Financial Times

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The Royal Children’s Hospital secured $646,000 after Henley and Villawood Properties offered an auction property proceeds towards the hospital’s Good Friday Appeal.
The property property was at Villawood Properties’ Trillium community in Mickleham.
There was spirited bidding for the award winning Henley Sahara Belle Q1 home at the no reserve auction where all proceeds were donated to the hospital.  A range of suppliers, including Austral Bricks, Hisense, Deckable Decking, All Green Nursery all donated their services or materials towards the home.
Villawood Properties executive director Rory Costelloe said he was absolutely thrilled with the result.
"It’s the culmination of a great collective effort and to see the home bought by a lovely couple, who already live in one of our communities and are set to start their family makes it even more gratifying.” 
The winning bidders were Sila and Martha Mataia, who are residents of another Villawood Properties community, Aspire in Plumpton.
They are awaiting the birth of their first child.
As in previous years, Villawood Properties donated a block of land with Henley building a brand new home.
Henley’s 22 years of involvement with the Good Friday Appeal has seen around $12 million raised for The Royal Children’s hospital, said Nicole Nightingale, Henley philanthropy manager.
It was a four bedroom, three bathroom house set on a 448 square metre plot in Villawood Property's <a href="https://trillium.villawoodproperties.com.au/" target="_blank" style="line-height: 1.3em;">Trillium development at Mickleham</a>, in Melbourne's north.
The double storey house has five living areas and opens through timber stacking doors to an outdoor entertaining space with merbau decking.
The kitchen includes a walk-in butler's pantry and a 900mm cooktop, twin wall ovens and a built in coffee machine, as well as a dishwasher. It also includes Caesarstone benchtops, as do the bathrooms and en suite.
The home was marketed by Alex Kundevski and Troy Apostolopoulos of Oliver Hume. 
The <a href="https://www.henley.com.au/new-home-collections/clendonvale/sahara-series/belle-q1" target="_blank">Sahara Belle Q1</a> house usually costs $297,900 (not including land). The Trillium development is located 32 kilometres north of the Melbourne CBD, just north of Craigieburn. Last year, <a href="/news/henley-and-villawood-team-up-again-for-good-friday-appeal-children-s-charity-house-auction-offering">Henley and Villawood raised $717,000</a> for the Good Friday Appeal when they auctioned off a house in the Aspire community in Plumpton. 
This Easter marks the Good Friday Appeal's 85th year of contribution to the Royal Children's Hospital.
{qtube vid:=TJa72CWPayY}
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Henley and Villawood combine again in Royal Children's Hospital Good Friday charity auction generosity 

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Abercromby's have a house on Lake Eildon in central Victoria listed for sale.
Lakewood was featured in the <a href="https://www.propertyobserver.com.au/https://www.amazon.com/100-Dream-Houses-Down-Under/dp/1864703016" target="_blank">100 Dream Houses from Downunder</a>.
The property at <a href="https://www.realestateview.com.au/Real-Estate/lakewood-360-campagnolos-road-mansfield/Property-Details-buy-residential-8303160" target="_blank">360 Campagnolos Road, Mansfield</a> has $2.5 million hopes through Abercromby's agent Tim Bennetts.
Designed by architects BBP with views across Lake Eildon's Delatite Arm, it is primarily constructed from glass and steel.
It has eight bedrooms, multiple living areas, state of the art kitchen and boat shed on its 18 acres.
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Lake Eildon home worthy of the 100 Dream Houses from Downunder

A trio of Queensland property groups have unveiled plans for a $300 million mixed-use redevelopment of the former Noosa Bowls Club site, a proposal that would deliver more than 200 new homes in one of the Sunshine Coast's most supply-constrained markets.

Kilter Property, Frank Developments and Calile Malouf Investments are behind the plans for the 1.8-hectare site at <a href="https://www.apartments.com.au/new-apartments/99-noosa-drive-noosa-heads-qld-4567">99 Noosa Drive</a>, which would transform the long-vacant site into a new residential precinct featuring 208 apartments, retail, hospitality and public space.

The proposal comes as Noosa continues to grapple with housing affordability and a shortage of permanent accommodation, particularly for key workers. The site's location in Noosa Junction, close to shops, public transport and employment, aligns with the direction of Noosa Council's Housing Strategy, which encourages higher-density housing within established activity centres rather than continued urban expansion.

The draft plans include 48 affordable-by-design apartments and 48 rooming accommodation units aimed at key workers. Around 2,000 sqm of ground-floor retail and food and beverage space would activate the street frontage, alongside a new public town square and landscaped open space.

<img alt="Noosa" data-entity-type="file" data-entity-uuid="2dd02f53-1360-4e51-801e-bfd61a6c980e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-26%20at%208.44.34%E2%80%AFPM.png?VersionId=x1iNs3BSMN6Jy7YUwaBZMHRrrKX2hMpy" />

&nbsp;

Frank Developments Founder and Director Frank Licastro said the development would continue the company's focus on architecturally-led residential projects while addressing one of the region's biggest challenges.

"Not only will this project exude a sense of luxury, it will also enhance not only the built environment but also the surrounding community," Licastro said.

"Noosa's success relies on the people who live and work here. Providing well-designed accommodation for key workers is critical to supporting the local economy and ensuring the Shire can continue to thrive."

Kilter Property Co-Founder Huw Williams said the focus was on delivering additional permanent housing while creating a mixed-use destination that benefits both residents and the wider community.

"Our focus is on delivering a well-considered mixed-use project that provides more permanent housing options, supports local workers and businesses, and delivers an exceptional product for the local market," Williams said.

"The redevelopment vision aligns with the long-term evolution of Noosa Junction as a vibrant activity centre, creating a destination that enhances the area's character while delivering significant economic and community benefits."

Calile Malouf Investments, best known for its role in Brisbane's James Street precinct and The Calile Hotel, will bring its place-making experience to the project. The company recently commenced construction on The Calile Noosa hotel and says the residential development will complement its growing investment in the region.

CMI Director Cal Malouf said the aim was to create a walkable precinct combining housing, retail and hospitality while remaining true to Noosa's character.

"We see a similar opportunity in Noosa to deliver a vibrant, walkable destination that combines exceptional housing, hospitality and retail in one integrated project," Malouf said.

Brisbane-based Cavill Architects has been appointed to design the project.

Joel Robinson

Noosa Bowls Club to be redeveloped into mixed-use apartment precinct

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.

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.

Jonathan Chancellor

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