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ASIC has cancelled the credit licence of Money Choice Pty Ltd (Money Choice) and banned its director, Matthew George, after an investigation found failures to comply with credit laws, responsible lending shortfalls and instances of unlicensed self-managed superannuation fund (SMSF) advice.
George is the sole director of Melbourne-based property investment and finance business, Money Choice, which had been scheduled as an <a href="https://melbourne.homebuyershow.com.au/visitor/exhibitor-list" target="_blank">exhibitor at the Melbourne Home Buyer and Property Investor Show</a> due to take place in August.
George was a regular seminar speaker on the topic: "How to build an efficent property portfolio inside and outside superannuation."
ASIC labelled Mr George a "spruiker."
He has been banned from engaging in credit activities for eight years and from providing financial services for three years.
ASIC said that between July 1 2010 and August 23 2012, Money Choice brokered residential investment loans to more than 40 clients who had purchased a unit on Queensland’s Sunshine Coast.
ASIC’s investigation found in brokering some of the loans, Money Choice and Mr George had:
<ul>
<li>engaged in unlicensed lending</li>
<li>been involved in organising loans from the unlicensed developer</li>
<li>given misleading information to lenders</li>
<li>failed to meet responsible lending conduct obligations, including failing to verify investor’s financial situation, and</li>
<li>failed to have adequate arrangements in place to ensure clients were not disadvantaged by conflicts of interests that arose regarding commission payments.</li>
</ul>
The actions follow ASIC establishing an <a href="/news">SMSF taskforce last year led by ASIC chairman Greg Tanzer</a> to examine “high-risk SMSF issues” with its first major project, being “looking at the quality of advice provided to investors” clean up SMSFs become the vehicle of choice for property spruikers
"Mr George demonstrated through his conduct that he is not a fit and proper person to engage in credit activities,’ ASIC deputy chairman Peter Kell said.
“This included some instances where Mr George preferred his own interests to those of Money Choice’s clients.” Kell also said that "Mr George was found to have advised some clients to set up a SMSF for the purpose of purchasing property when he was not licensed to provide such advice. "We do not want to see SMSFs become the vehicle of choice for property spruikers and the action we’ve taken against Mr George should serve as a timely warning of ASIC’s intention to ensure compliance with the law. "ASIC is committed to improving the standards of advice given to investors regarding the establishment of SMSFs and the investments within the SMSF, including investment properties. "Mr George did not competently carry out his duties as responsible manager and key person, and does not have the knowledge and skills to competently operate a credit business," Mr Kell said. Money Choice and Matthew George have the right to lodge an application for review of ASIC’s May 15 decision with the Administrative Appeals Tribunal.
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Property investment SMSF spruiker Matthew George, director of Money Choice, banned by ASIC for multiple compliance failures

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A Melbourne-based tea importer and distribution business has paid $290,000 for an office and warehouse building at Clayton in Melbourne’s south-east. 
The 13/35 Garden Road property comprises a 167 square metre, older style, office and warehouse building.
The sale was negotiated by Savills senior industrial executive, Daniel Kelly, who said the square metre rate of more than $1,730 reflected the outstanding location close to freeways. 
He said the purchaser had also required a location within close proximity of current staff. 
The vendor was a Melbourne based private investor.
Earlier this month, a warehouse/office with long term tenants at Bentleigh East in Melbourne’s south-east has been sold at auction for $1.115 million by Ray White Commercial Oakleigh.
According to property valuers Propell, the Melbourne industrial market has been largely in balance.
"The low vacancy rate has resulted in rents being stable or increasing slightly in some areas, while a shortage of prime space continues to move some demand into the better secondary grade space," says Propell.
"Most leasing demand is in Melbourne west, with 40% of new lettings in this region, while Melbourne north and the south-east of the next most popular regions.
"With rents stable, or increasing slightly, and continuing demand from tenants, the shortage of available space has spurred interest in the land and development markets, with an increase in speculative development, design and construct premises. As a result, demand and activity is expected to continue at current levels during 2013."
Accordign to Propell, rents for prime property in the south east have been stable, in the range of $75 to $90 per sqm net, while rents for secondary properties have fallen slightly and are in the range of $50 to $65 per square metre net.
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Tea importer pays $290,000 for office and warehouse in Melbourne's sought after south-east

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The commitment to infrastructure investment as part of the federal government’s latest budget is encouraging for the property sector says Cushman &amp; Wakefield Australia managing director David Woolford.
However, he says the benefits of this commitment to the nation’s productivity may be jeopardised by missed opportunities elsewhere.
Victoria will get the biggest allocation of funds with $3.8 billion, of which $3 billion is for Melbourne Metro rail, $2.7 billion for NSW, mostly for highway expansions, $2 billion for Queensland, $1.1 billion for WA and smaller amounts for the other states.
“On one hand we commend the government for pushing ahead with an array of important infrastructure projects in cities and regional locations in the face of a significant deficit, on the other we are concerned about the long term timing of some of these projects,” said Woolford.
“Additionally, it is a concern that a corresponding commitment to improving housing supply was not apparently forthcoming.
“The housing market is a critical driver of the broader economy and the commercial property sector by extension, so it is disappointing that the budget in no way addresses the ongoing issue of housing affordability in this country.
“Overall we are sceptical of this budget’s capacity to improve productivity at a practical level and as such we await the Coalition’s response with bated breath.
“Another source of concern is the potentially ill directed tweaking of our thin capitalisation rules as they apply to inbound investment in Australia. The damage caused by the increase to the withholding tax last year was significant and now, with the government planning to increase the tax payable by international credit providers, effective borrowing costs will rise and project returns will diminish.
“Any measures that restrict our ability to attract capital to our shores are unwarranted and damaging, and should be reconsidered,” he said.
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Federal budget a hit and miss for commercial property sector: Cushman & Wakefield 

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GPT is set to resume negotiations with Australand five months after a $2.8 billion bid to acquire Australand’s investment property portfolio and commercial and industrial businesses was rejected.
An alternative proposal for a block share trade of Singapore-based majority shareholder CapitaLand’s 60% holding of Australand is reportedly though still a “firm” possibility, according to the Australian Financial Review’s Street Talk column.
Apparently the block trade proposal caused tempers at GPT to “hit boiling point” last week with the commercial property landlord convinced it had been played a “stalking horse” to encourage CapitaLand’s exit.
There has been no official announcement from either GPT or Australand about a resumption of talks.
GPT was expected to make a higher offer for Australand in February after its annual results were published, but has yet to do so, perhaps caught up in resolving its <a target="_blank" href="/news">class action lawsuit with a group of investors</a>, only settled today with a $75 million conditional agreement.
No date has been set for the resumption of negotiations, according to Street Talk, but it is expected that Australand will demand a higher price than the initial offer.
GPT’s December bid of $2.8 billion was $140 million above the June 2012 book value for the assets, but would leave shareholders holding the residential business as a standalone entity.
CapitaLand undertook a strategic review of its investment in Australand in January last year.
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GPT set to resume takeover talks with Australand but block share trade still possible: Street Talk

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McDonald's Australia has outbid private investors at a packed Burgess Rawson Sydney portfolio auction to acquire its own Preston McDonald's premises.
The 2011-built premises (pictured below) sit on a 2,621 square metre site at the corner of Hoxton Park &amp; Lyn Parade in Liverpool south west of Sydney.
{yoogallery src=[images/stories/2013/05/may15mcdonalds]}
It sold for $6.45 million reflecting a yield of 5.65% on net income of $365,000 plus GST.
Burgess Rawson director Dean Venturato said the McDonald's property and a Hungry Jack's premises in Minto received the highest number of enquiries ahead of the seven-property portfolio auction, which achieved a 100% clearance rate.
“The McDonald's premises are only two year old and they hardly ever come up for auction,” Venturato says.
“It had a 20 year lease with 18 years remaining on the lease.
“Fast food is considered a very good investment because it's recession proof,” he said.
Searches across commercialview.com.au and realcommercial.com.au show no other McDonald's premises currently listed for sale.
The Hungry Jack's premises on the corner of Pembroke Road and Brookfield Rd in Minto, with a 10 year lease to 2020, sold to a private investor for $2.835 million on a yield of 5%.
The portfolio auction brought in a total of $24.8 million for vendors with the highest yielding sale being a regional distribution facility leased to ASX-listed food company Goodman Fielder, currently being upgraded, which sold to a private investor for $3.37 million on a yield of 8.97%.
Goodman Fielder has a 12 year lease on the property with two six year renewal options.
The average yield across the portfolio auction was 6.45%.
Another noteworthy property was the premises of Aldi supermarket in Minto, which sold for $4.88 million on a 5.64% yield.
The premises are leased to Aldi until 2017 with renewal options to 2032 and brings in net annual income of $277,106 plus GST.
Venturato says Aldi supermarket premises are also rarely available for purchase.
More than 200 people attended the auction with Burgess Rawson fielded 870 enquiries prior to auction with 280 contracts issued.
Venturato described bidding as “spirited” with prices around 30% above reserves for five of the properties.
Apart from the McDonald's sale, all the remaining properties were purchased by private investors, with three as investments in self-managed superannuation funds.
The other sales as part of the portfolio auction were:
<ul>
<li>1st Choice Liquor, Erina - $4.5 million (yield of 7.67%)</li>
<li>Childcare centre, West Hoxton - $1.63 million (6.35%)</li>
<li>ANZ Bank, Windsor - $1.176 milion (5.85%)</li>
</ul>
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McDonald's Australia beats private investors to buy its own Preston fast-food premises 

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Bankwest has a distinctly higher proportion of borrowers three months or more behind on their mortgage repayments than parent company the Commonwealth Bank and fellow subsidiary, the New Zealand ASB bank, according to Commonwealth Bank's March quarter update.
The results reveal that the Commonwealth Bank reported unaudited cash earnings for the three months ended 31 March 2013 of $1.9 billion.
Statutory net profit over the period was also $1.9 billion.
The Commonwealth Bank reported that “system home loan credit growth remained modest through the March quarter, with the Group growing slightly ahead of system”.
Total impairment expense was $255 million in the quarter, or 19 basis points of total average loans, but with a higher impairment contribution from Bankwest, acquired by the Commonwealth Bank in October 2008.
The graph below shows the percentage of home loans in the three banking divisions more than three months in arrears with ‘RBS’ referring to the Commonwealth Bank’s retail banking services division.
<img alt="commbank_results" height="300" width="470" src="/images/stories/2013/commbank_results.jpg">
The bank grew its household deposits above system growth with deposit margins remaining “under pressure in a competitive market”.
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Commonwealth Bank reports $1.9 billion quarterly profit but with higher Bankwest home loan arrears rates

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The REA Group, publisher of realestate.com.au and realcommercial.com.au, has revealed a 20% rise in monthly Australian site traffic and a 30% rise in earnings for the first nine months of its 2012-13 financial year.
The update was given as part of a US regulatory filing by parent company News Corporation as part of the formation of new business group, ‘New News Corporation'.
REA Group revenue for the nine months to March 31 was $244 million, up from $203 million for the previous corresponding period.
Before tax earnings were $117 million for the nine-month period to March 31, compared with $90 million in the previous corresponding period.
The filing reveals that there were are a combined 23.1 million visits each month to realestate.com.au and realcommercial.com.au based on Nielsen average monthly total traffic ratings for the six months ended March 31, 2013.
This is almost 20% up on montly site visits of 19.4 million across realestate.com.au, realcommercial.com.au and property.com.au reported in February interim results filing also using Nielson average monthly traffic ratings.
REA Group will form part of the US$2.6 billion ‘New News Corporation’ which includes pay TV provider Foxtel, book publisher HarperCollins, The Wall Street Journal and New York Post and a digital education business called ‘Amplify’.
In February, <a href="https://www.propertyobserver.com.au/industry-news/rea-group-profits-up-25-but-agent-numbers-fall/2013020659197" target="_blank">REA Group reported a 25% rise in interim net profits</a> after tax for the half year to December 31 of $51.6 million.
Its Australian division, which generates 90% of group revenue, increased revenue by 21% to $144.7 million.
The US filing reports that REA Group also owns Italian property site, casa.it, and other property sites and apps across Europe and in Hong Kong with its sites used by used by around 21,000 estate agents.
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Realestate.com.au publisher REA Group reports 20% rise in site visits and nine-month earnings up 30%

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Age has not slowed the ambitions of Australia’s high-rise apartment king Harry Triguboff.
Turning 80 in March spurred ‘High-rise Harry’ to add to Meriton’s inventory of residential development sites in Sydney with Asian buyers likely to be the primary target for off-the-plan marketing campaigns.
He did reflect on his octagenerian status by hinting at one day handing on the <a target="_blank" href="https://www.propertyobserver.com.au/news/asian-buyers-covet-while-harry-triguboff-considers-one-day-handing-meriton-reins-to-grandkids/2013032260037">reins of his business to his grandchildren</a> while a foray into the <a target="_blank" href="https://twitter.com/Harry_Triguboff">Twittersphere </a>was less successful.
He is currently developing and marketing 2,000 apartments in Sydney having spent more than $300 million in the past 18 months on development sites.
His first project dates back to 1963 when as a clerk, he built his first block of units in the<a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/harry-triguboff/2013013159060"> Sydney suburb of Tempe</a>.
May 2013 – Lane Cove
Harry spends $39 million on a <a target="_blank" href="https://www.propertyobserver.com.au/news/harry-triguboff-buys-lane-cove-service-station-with-tower-approval/2013051261299?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news">North Shore Sydney service station</a> with plans to build a $300 million residential tower development featuring 440 apartments. The 150 Epping Road site in Lane Cove is acquired from Bob Rose’s Rose Group, which received development approval for the site in August last year.
February 2013 - Mascot
Harry acquires a 31,500 square metre industrial site for $100 million from industrial landlord Goodman Group. The sale is confirmed by Goodman after Meriton leaks it to The Australian. He plans to build 1,000 apartments on the <a href="https://www.propertyobserver.com.au/developments/harry-triguboff-celebrates-80th-birthday-with-proposed-%24100-million-inner-sydney-site-acquisition-and-calls-for-more-rate-cuts/2013030459705?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news" target="_blank">19-33 Kent Road site</a> near Sydney airport.
February 2013 – Olympic Park
Harry pays a <a target="_blank" href="https://www.meriton.com.au/blog/meriton-buys-olympic-park-site/">reported $22 million plus to buy a 15,000 square metre</a> site with plans for 300 apartments in Sydney’s Olympic Park. The site offers strong transport links, is a corporate hub with over 100 companies based around the sporting complex bringing in more than 10,000 employees every day.
October 2012 - Rosebery
Harry acquires a former industrial property in Rosebery in inner south-east Sydney with plans to build 200 apartments. Meriton pays $21 million for the site.
August 2012 - Waterloo
Harry purchases on McEvoy Street in Waterloo, with plans for 220 apartments.
July 2012 - Lewisham
Harry spends $48.5 million to buy the <a target="_blank" href="https://www.propertyobserver.com.au/residential/harrytriguboff-s-meriton-buys-lewisham-estates-development-site-for-%24485-million/2012071755616">controversial Lewisham Estates development site</a> which has amended potential for between 377 and 430 units. He boasts that he'd beaten Frasers Property, Toga, Crown Group and Ralan to win the tender. Charlie Demian of the Demian Group paid $8.5 million for the site in 2005.
March 2012 – North Ryde
Harry pays $25 million for a Macquarie Park development site in North Ryde, with plans for a $200 million apartment development covering 330 apartments. The site at 88 Talavera Road, across the road from the Macquarie Shopping Centre and close to Macquarie University, was acquired from property developer St Hilliers, whose construction arm was placed in administration two months later (May 2012) St Hilliers had acquired it in 2007 for $23.5 million.
March 2012 - Chatswood
The biggest site acquired by Harry in 2012 is on Thomas Street in Chatswood on Sydney’s north shore, with approval for 547 apartments. Meriton pays $50 million for the Thomas Street car park with plans for two towers of 29 stories each, one of which will be retained by Meriton as serviced apartments – a growing part of the Meriton business.
December 2011 – North Sydney
Harry acquires a 922 square metre site for serviced apartments at 80 Arthur Street. The sales price is not disclosed. The vendor was the Medi-care Centre Foundation, which acquired the land and office building in 1988 for $14.1 million.
December 2011 – Zetland
Harry acquires a site at South Dowling Street with plans for 400 apartments and “excited by the prospect of further development in the Green Square precinct”. The initial design includes five buildings ranging in height from seven – 20 levels with 360-degree views. Meriton plan to provide a mix of 1, 2 and 3 bedroom apartments with a retail component strip.
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Harry Triguboff’s heaving wheelbarrow: a timeline of Meriton’s growing $300m Sydney apartment site inventory

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The $1.85 million luxury Richmond warehouse conversion at the centre of eviction dispute had a “longstanding” prohibition for use as a dwelling, a summary of the Victorian Civil and Administrative Tribunal (VCAT) ruling reveals.

Furthermore, it was marketed and sold as a residence just a few months after the position became “reasonably clear” that there was no existing or prior rights to use it as a dwelling. 
An email sent to Yarra City Council in February 2010 as part of permit application to"allow buildings and works to the roof-top terrace" declared that the site was “'not currently being used as a dwelling', and 'we simply use the site as storage'."
Four months later it was being marketed for sale  as a luxury converted warehouse residence.
The <a target="_blank" href="https://www.propertyobserver.com.au/https://www.millionplus.com.au/property/residential/11-northcote-street-richmond/102844">three-level warehouse at 5/11 Northcote Road</a> (pictured below) was acquired by Adam Burgess and Margaret Boshell in November 2010 and occupied from May 2011 until their eviction notice was upheld by VCAT in November last year.
{yoogallery src=[images/stories/2013/05/may15richmond]}
They are now suing the previous owner Danyul Gleeson, managing director of logistics and supply chain, Transport Works, as well as the real estate agents who marketed the property, Bennison Mackinnon Armadale, and Brian Pacey of Sargeants Conveyancing in Frankston for allegedly failing to advise them they could not live in the warehouse.
The property was marketed as a an “inner city residence that takes the warehouse conversion concept to new levels of style and success” with the ground floor suitable for as a "living, home office, cinema or recreation zone adjacent to secure garaging for two cars" with upstairs "living/dining areas" and a roof top level providing for "ultimate entertaining featuring stunning decking with spectacular views, an accompanying pavilion and fully integrated barbeque, fridge and al fresco kitchen facilities".
"The perfect marriage of style and substance, form and function. Unforgettable!" the listing concluded.
Presiding VCAT deputy president Mark Dwyer said in his summation that "the term ‘Unforgettable’ has perhaps taken on a different meaning for the applicants in this proceeding".
The case dates back to March last year when Burgess and Boshell were ordered to vacate the premises within 60 days by the Yarra City Council after an inspection revealed it was being used unlawfully as a dwelling when it is located in a Business 3 Zone. 
The couple took the matter to the Victorian Civil and Administrative Tribunal (VCAT) in November last year arguing that it was a “‘home occupation office’ and that “occupation of the premises as a residence was ancillary to its dominant use as an ‘office’” but were unsuccessful. 
In a writ seen by News Limited, they allege that “the former owner and real estate agents made false representations that the property could lawfully be used as a home and was being used as such by Mr Gleeson and his family”. 
The writ says that when the couple inspected the property they found the rooms fully furnished and were told by real estate agents the owners lived there and that the property was the best of the complex because the developer had lived in it. 
They are seeking to recover mortgage costs, conveyancing costs, stamp duty, legal costs and the difference in the value of the property as a residence compared to its zoning as a place of business. 
Damages are also being sought against Brian Pacey of Sargeants Conveyancing in Frankston for allegedly failing to advise they could not live in the warehouse. 
A spokesperson for Brian Pacey's office said he would not be commenting. 
Property Observer also sought comment from Bennison Mackinnon Armadale and from Danyul Gleenson, but received no reply at the time of publishing. 
In the summation of his ruling Dwyer said that “a zone control prohibiting use of the land as a dwelling has been one of longstanding”.
He noted that a successful 1999 development application to develop a large warehouse on the land into six warehouse occupancies, included permission for a five-lot subdivision, including unit 5, the property in question.
Importantly, he added: “None of the plans accompanying these permit applications, nor endorsed as part of the permits, show any internal layout of the warehouse occupancies nor was there any indication in these documents that the proposed use of the premises was for anything other than a warehouse. "
He also noted a letter dated December 16 2009 written in response to an application to build a roof-top terrace, which indicated that the “‘the building is currently used as five separate residential units’, and that the proposed works were for private residential use”. 
In the letter, the council “expressed concern that the existing use of the site as a dwelling was a prohibited use in the Business 3 Zone, and sought further information from the then permit applicant as to whether the premises had any existing use rights for ‘accommodation’”. 
The permit applicant responded by email on 24 February 2010 that the site was “not currently being used as a dwelling”, and “we simply use the site as storage”.
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The $1.85 million Richmond warehouse ‘residence’ at centre of eviction dispute had “longstanding ban” on dwelling use

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<img alt="idlandstrapmay15" height="94" width="470" src="/images/stories/2013/05/idlandstrapmay15.jpg">
ID_Land's Jeff Garvey says he would invest a spare $750,000 in an inner-city investment property, but could also be tempted by a Lamborghini Aventador.
<img style="margin: 5px; float: left;" alt="jeffgarveymay15" height="225" width="228" src="/images/stories/2013/03/jeffgarveymay15.png">Agent: Jeff Garvey

Position: Director

Company: ID_Land

Office location: Melbourne

How long have you been in the industry?

I have been in working in real estate and property development for over 18 years. I started ID_Land with my business my business partner, Matt Belford in 2008 and we are approaching our fifth birthday with five projects in Melbourne’s growth corridors and an inner-city townhouse development to come. What’s happening in the area you specialise in?

Thankfully some tempered positivity has returned in 2013 and we are already seeing the benefits of this across our business. It is an exciting time at ID_Land with many projects underway including Fairview in Mernda and the first stage of our Potters Grove project in Officer now complete.
Describe the most interesting property you have sold/leased/developed/managed:
There have been many over my career including a property I managed many years ago where the tenant allowed the premises to be over-run by chickens...that would be by far the most interesting!
I find that each development has its own set of idiosyncrasies but we enjoy overcoming challenges. For instance, our development, Fairview, Mernda required over 14 external agreements and a range of external works in order to the deliver the allotments. It was very satisfying to see the project come to life.
What are the ingredients to being successful in your job?

Key to anything is having fun or you will struggle to find a level of satisfaction from your work. You need to be truly passionate about your business and the product you’re developing – if you don’t love the product, how can you expect others to? Also, being a good listener and problem solver is an important ingredient helps you to be prepared as tomorrow’s challenges always differ from today's. What aspects of your role do you enjoy the most?

The diversity of the development industry is fantastic. You can be chatting with a farmer on the bonnet of your car in the morning and be doing business on Collins Street that afternoon. We pride ourselves taking the time to speak with everyone involved in the development process from the policy makers through to communities to deliver the best product for our purchasers. Where would you invest a spare $750,000?

I would purchase an investment property as close to the CBD, as possible. Buyers should be conscious of the long-term population forecasts and demand for product in proximity to city centres will always be strong.
Alternatively, a Lamborghini Aventador  – it would rapidly decrease in value but simply looks awesome.
Which football team do you support?

To cover all codes: Essendon, Melbourne Rebels and Melbourne Storm. What’s your favourite app or techno gadget?

My iPhone and iPad – I’ve just started using the “My Fitness” app to keep my calorie count and fitness in check.
However, the ultimate gadget is my remote control helicopter which I am gradually mastering, one crash-landing at a time.
How do you use social media?

I use Twitter (via ID_Land’s account) and I enjoy following different people and groups – its great how you can simply skim through and read tweets from Rupert Murdoch, find out what local community groups are doing while still following the location of the taco truck.</body></html>

In profile: ID_Land director Jeff Garvey

<a href="https://www.apartments.com.au/developments/broadbeach-qld-4218">Broadbeach</a> offers plenty of reasons to live vertically, but moving from a substantial family home into an apartment can expose the compromises of high-density living. Privacy, room for guests and usable living space tend to matter more when an apartment is intended as a permanent home rather than an occasional coastal base.

A typical residential floor at <a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a>, on Surf Parade,&nbsp;contains just four apartments. The 94-residence development by <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> is predominantly made up of expansive three-bedroom homes, with a limited collection of half-floor penthouses above.

Across the apartment floors, <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has used the relatively limited number of residences to give each home greater access to natural light and outlook. Living spaces extend towards full-height glazing, while a series of bay windows frame selected views across the Pacific Ocean, city and hinterland rather than treating the building edge as a continuous wall of glass.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360965]

“The apartment floors deliver a collection of homes that embrace controlled outlook via a series of bay windows deliberately framing moments of view,” Rothelowman Director Kim Lowman said.

From outside, those projecting forms contribute to the tower’s faceted profile. Strong horizontal and vertical elements establish its proportions, while the changing position of the sun alters the light, shadow and reflection across the façade throughout the day.

The same attention moves inside the apartments, where the material palette combines warm timber, natural stone, metallic detailing and softer curved forms. Kitchens sit within the main living zone, with stone island benches, integrated joinery and European appliances, before the living areas extend towards the glazing and the outlook.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360981]

Three genuine bedrooms provide room to accommodate family and guests, while two secure car spaces and storage address some of the practical considerations that can become more noticeable when moving from a larger home. Feedback from the display suite has centred on the warmth and restraint of the interiors, with buyers commenting that the residences feel like homes rather than conventional coastal apartments.

A limited collection of half-floor penthouses occupies the upper levels, increasing the scale of the living spaces and adding private balconies and elevated finishes. From this position, the outlook extends between the ocean and hinterland.

Outside the private residences, The Eveleigh separates its shared spaces between the podium and rooftop. The podium is centred on wellness, with subtropical landscaping surrounding a swimming pool and pool terrace, yoga garden, private gymnasium, sauna and hot and cold plunge facilities. Landscaped retreats and pavilions provide additional places to sit away from the main recreation areas.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360966]

Higher in the building, a rooftop pavilion and private dining suite sit alongside resident lounge, barbecue and outdoor dining areas, opening towards panoramic views across the ocean, city and hinterland.

“Buyers are no longer just looking for an apartment, but a lifestyle where they can relax, reset, and enjoy a balanced way of living,” Hirsch &amp; Faigen Director of Sales Matt George said.

Interest to date has come from established owner-occupiers and interstate lifestyle purchasers, including buyers planning a future move to the Gold Coast. Many are coming from larger homes and want to reduce ongoing maintenance without giving up space for family and guests, privacy, two car spaces or the ability to entertain at home.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360969]

Much of that daily life can also take place beyond the building without requiring a drive. Kurrawa Beach and Pratten Park are an easy walk from Surf Parade, while Pacific Fair, Oracle Boulevard, The Oasis, restaurants, cafés, entertainment and public transport are also within walking distance.

The Eveleigh is Hirsch &amp; Faigen's fourth Gold Coast development since entering the market in 2021, following The Hemingway at Palm Beach, The Emerson at Kirra and Yves at Mermaid Beach. Each of the preceding projects sold out before completion.

“Broadbeach had been on our radar throughout our time operating on the Gold Coast,” the developer said. “Following our projects in Palm Beach, Kirra and Mermaid Beach, Broadbeach represented the natural next step for the business.”

The Surf Parade site brought together proximity to the beach, protected coastal outlooks and walkability to dining, shopping and recreation. Hirsch &amp; Faigen also identified the street as an emerging premium residential address, with enough separation from Broadbeach's busier destinations to retain a quieter environment at home.

The Eveleigh is now under construction by Maxcon, with completion forecast for mid-2028. Three-bedroom residences are currently available from $2.87 million.

[smartcode_project_cta:default project_id=149670]

Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

A long-stalled Campbelltown development site is back in play, with new plans for 139 apartments set to supersede a mixed-use scheme approved almost a decade ago but never built.

The new proposal for 28 Cordeaux Street would deliver 116 market and 23 affordable apartments in a part 14-storey building, bringing a substantial new project into a Campbelltown market where new apartment supply remains limited.

Plans have been filed over the 3,092 sqm corner site at Moore-Oxley Street, around 600 metres from Campbelltown Railway Station and the city-centre retail core.

The site already carries a mixed-use residential approval dating to 2016. Doroch Architects has now been engaged on a larger replacement scheme, which is progressing as a State Significant Development Application following a Housing Delivery Authority determination in August 2025.

The apartment mix comprises 39 one-bedroom, 72 two-bedroom and 28 three-bedroom residences. Two-bedroom apartments make up just over half of the project, while three-bedroom homes account for 20 per cent.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="136dd5b9-3791-4da6-9e31-76f533f5b4de" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da2.png?VersionId=LgOSy9nwf5u.MGswBBwaGGxuX8QpHSl_" />

Of the 139 apartments, 23 will be delivered as affordable housing under the in-fill affordable housing provisions of the Housing SEPP. The affordable component represents 15 per cent of the residential gross floor area and will be managed by a registered Community Housing Provider.

Doroch has sought to break the scale of the building into two distinct elements, with a masonry podium of around four storeys establishing the street edge before the residential tower steps back above.

The corner position has shaped that approach. Cordeaux Street faces toward the commercial and civic centre, while Moore-Oxley Street leads into the lower-scale residential neighbourhood to the south, and the design verification report describes the site as "bridging the commercial core to the north and established residential areas to the south."

The podium will be expressed predominantly in face brick, while the upper levels shift to brushed and grooved concrete cladding with darker metal detailing. Recessed sections, deep balcony edges and landscaping break down the upper form, with an approximately 11.8-metre setback to the northern boundary addressing the adjoining St Peters Anglican School.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="c8b3d2d3-c561-4bfc-a5d9-a68c0c10dac1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da1.png?VersionId=AeAEyJU02Gk2k5noUj2StziCvdQ7fW4B" />

Campbelltown has been starved of new residential developments in the last decade.

The only other notable development set to come to market this year is ALAND's Queen Square, a mixed-use precinct on over two hectares that will comprise apartments above a vibrant ground-level retail and hospitality dining precinct.

First look: New 139-apartment plans revive long-stalled Campbelltown city centre site

First Look: Sherlock Construction pitches apartments for low-rise Deception Bay

Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

First look at MAYD's North Kirra mixed-use precinct

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Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

&nbsp;

[smartcode_project_cta:default project_id=152737]

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Larry Schlesinger

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