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The Brisbane franchise of Gold Coast residential property group Cavalier Homes has been placed in administration, just weeks after the owner of Cavalier Homes' Warrnambool and Gippsland franchises also collapsed.
The Gold Coast-based franchisor is not in administration.
Gippsland-based commercial builder Kirway Constructions, the owner of the Warrnambool and Gippsland franchises of Cavalier Homes, collapsed on March 8.
Gess Rambaldi, liquidator of Kirway Constructions at Pitcher Partners, says a creditors' meeting was held on March 16 in which creditors were told there were a number of projects at various stages of construction.
A tender process has started for the completion of the several projects to preserve the value of the contracts. Expressions of interest are due tomorrow.
Rambaldi says Kirwood was not able to finish these projects because it ran out of money and had sacked its 50-odd employees.
He said it was too early to comment on the causes of insolvency or whether the company had been running losses for years.
But he said directors had formed a view that the "construction industry itself had ground to a standstill, and the tender processes had dried up."
Meanwhile, franchise Cavalier Homes Brisbane Pty Ltd, and three related companies, have collapsed.
Lloyd Kerr, partner at Jirsch Sutherland, says the Brisbane business is no longer trading after “ongoing regulatory issues” but stresses that it’s “business as usual” for other Cavalier franchises.
Kerr said just days into his appointment, he’s not yet sure how long the Brisbane franchise has been in trouble, but creditors are owed north of $3 million.
They include suppliers, interests related with the company and possibly the Queensland building regulator.
The franchisor has expressed its desire to help the 30-odd customers with partially completed houses, Kerr said.
A creditors’ meeting will be held next week, and a detailed report will follow.
A spokesman for the Queensland Building Services Authority told the ABC that Cavalier Homes Brisbane did not have enough funds to continue operating.
"A number of consumers have contacted us with regards to the progress of the work – that it's very slow on site, their jobs have stopped, they haven't got the capacity to install roofs," the spokesman said.
"We're concerned about consumers, subcontractors, trade contractors and suppliers – so we've taken the step to immediately suspend [Cavalier Homes] licence."
According to its website, Cavalier Homes is one of Australasia's largest residential building entities and provides specialist construction finance advice.
It moved into franchising in 2001, one decade after setting up on the Gold Coast.
"With the move into franchising in 2001, Cavalier targeted quality driven builders in key regional locations to come on board as franchisees. This meant new home clients in regional locations could deal with a local builder supported by the design range and buying power of one of Australia's largest building companies," the company says.
Cavalier Homes was contacted for comment this morning.
This article originally appeared on <a href="https://www.smartcompany.com.au/index.php" target="_blank">SmartCompany</a>. 
 
 
 
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Brisbane and Victorian franchises of builder Cavalier Homes collapse

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The building and construction industries have had a poor start to the year, with more than 80 firms entering administration or liquidation or being hit by a winding-up notice over the past month on the east coast alone.
A review of insolvency appointments shows that companies in earthmoving, project development, kitchens, fencing, civil engineering, plumbing, electricians and plasters have recently collapsed.
Collapses this month include Royal &amp; Taricon Construction, Amorin Constructions, BQL Constructions, Bina Constructions, Simtom Constructions, Australian Property and Construction Pty Ltd.
Registered company liquidator Cliff Sanderson, of Dissolve in Sydney, says construction company collapses are "always prominent", but have become increasingly so over the past six months.
This is due to the courts opening up for 2012, the weakness in construction starts, companies getting around to unpaid tax bills, and the trickle-on effect from larger company collapses.
"There have been a few larger building companies go broke in the last six to 12 months, like Kell &amp; Rigby, and there's always flow-on from that, but most of them are actually suburban tradies [who have collapsed]," Sanderson says.
"For us, February was bigger than January, and in March there's been a noticeable uptick on last year."
According to Sanderson, part of the problem is that small construction firms are not diligent on bookwork.
"The average director doesn't want to look, and then 18 months they find they have a large tax bill."
Peter Jones, chief economist at the Master Builders of Australia, says of its 31,000 members, about 95% are classified as small business, and many are "really struggling".
"The forward orders aren't looking too flash; they're looking to lay-off staff and are concerned about their outlook."
Jones says the problems stem from flatling construction starts on the residential side, and declines on the commercial side as Government stimulus wears off.
He says there's no evidence that a Tax Office crackdown on the sector was boosting collapse numbers, although it's conceivable many companies had fallen on large tax bills.
Jones says a rate cut of 0.5% would provide a fillip to the building and construction industries.
This article originally appeared on<a target="_blank" href="https://www.smartcompany.com.au/index.php"> SmartCompany</a>.
 
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Construction carnage: More than 80 firms collapse in a month as building industries suffer through 2012

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The lawyer spearheading a class action against Bankwest has welcomed the announcement of a broad-ranging parliamentary inquiry into the banking sector.
Slater &amp; Gordon commercial litigation lawyer Van Moulis, who is working on a class action on behalf of dozens of aggrieved borrowers, says he looks on with “great interest” to see what the Senate investigation uncovers.
“I’m very pleased,” Moulis said.
The inquiry, announced yesterday, will look into:
<ul>
<li>the impact of borrowing and lending practices in the banking sector both during and since the global financial crisis;</li>
<li>the need for further consideration of the state of the broader finance and banking sector;</li>
<li>the impact of international regulatory changes on the Australian banking sector;</li>
<li>the impact on relative shares of specific banking markets; and</li>
<li>the current cost of funds for lending purposes.</li>
</ul>
The Slater &amp; Gordon case is centred on the idea that Bankwest customers were victimised by "improper" lending and recovery practices in 2008.
Of particular interest is a provision that allowed buyer Commonwealth Bank to “claw back” bad and doubtful debts from vendor HBOS.
Bankwest has vehemently defended its actions, saying it had assisted many customers between 2008 and 2011.
The Senate inquiry has been spearheaded by Nationals Senator John Williams, who raised the alarm at reports that banks were pulling loans to small business clients, including farmers, leading to assets being sold at rock-bottom levels.
He said yesterday the inquiry would allow “developers and investors who have complaints about the way they have been treated a chance to have their say.”
“This inquiry will also be able to scrutinise the role of receivers and valuers to see whether they are doing the right thing when valuing and selling properties.”
“I have heard some horror stories about their actions.
“We need to know if everyone is and has been treated fairly. We need to know the vulnerable are protected.
“Ultimately we need our banking sector to be strong, but if there are concerns they need to be addressed.”
The Australian Bankers’ Association said it would “provide a submission to the Senate Inquiry and will seek to appear to give evidence."
"It will be a good opportunity for the ABA to explain why banks’ funding costs have increased relative to the Reserve Bank’s cash rate and why that has meant home loan interest rates have increased."
"Also we will be talking about why solid, reliable and profitable banks are important for the Australian economy.”
This article originally appeared on <a href="https://www.smartcompany.com.au/index.php" target="_blank">SmartCompany</a>.
 
 
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Class action lawyer welcomes Senate inquiry into banking sector

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The Shopping Centre Council has upped its opposition to a long-awaited retail tenancy code of conduct, telling the competition regulator that it will not engage with the Franchise Council of Australia on the proposed code.
FCA executive director Steve Wright says progress has been made on the voluntary code, which is designed to stem conflict between landlords and tenants about rental increases, end-of-term arrangements, fit-out requirements, and abuse of market power where landlords offer contracts on a "take it or leave it" basis.
The code will be up for discussion at a retail forum in Sydney tomorrow, alongside other ideas such as a payroll tax freeze, government assistance for small business and occupational health and safety.
Wright says although the SCC has clearly stated its opposition to the code, the FCA remains hopeful an agreement can be reached – particularly if it helps lead to harmonisation of retail tenancy laws across the country.
The guidelines are designed to give retailers confidence about security of tenure, and are particularly relevant given poor occupancy rates in shopping centres across North America, Wright says.
The Australian Competition and Consumer Commission said this morning that it had not yet received a completed code from the FCA. The ACCC assists industries with voluntary codes to ensure they contain no anti-competitive elements, but its assistance does not amount to an endorsement of a code.
But the SCC, which represents shopping centre owners and managers, has decried the proposed code as a “media stunt” and has told the FCA and the ACCC that it will not discuss the matter.
In a letter last week to ACCC chairman Rod Sims, SCC executive director Milton Cockburn writes: "Given that Australia already has the most highly regulated retail tenancy industry in the Western world, we have no intention of adding to that already considerable volume of regulation through the adoption of a code of conduct."
The SCC also says the code would only add to existing regulations, and has called for the franchise body to look at its own backyard.
“Most sensible people would support replacing the existing state and territory regulation of retail tenancies with a single national approach but this is not what the FCA has in mind.”
“Instead the FCA is apparently proposing an additional national code of practice which would sit on top of the existing state and territory legislation.”
The SCC says retail leasing is already much better regulated than laws covering franchising.
“State and territory legislation governs every aspect of the retail tenancy relationship, beginning even before the lease is entered into. The legislation contains financial and other penalties for non-compliance,” it says.
“The FCA wants even more rules to apply to retail leasing, which, by contrast, already has far too many rules."
This article originally appeared on <a href="https://www.smartcompany.com.au/index.php" target="_blank">SmartCompany.</a>
 
 
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Shopping Centre Council tells ACCC it won’t cooperate on retail tenancy code of conduct

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We've come a long way since Kevin 07, WorkChoices and the description of climate change as the "greatest moral challenge of our time". On the flipside, with Rudd circulating for the leadership, the Fair Work Act damned daily in the press and a carbon tax on its way, maybe we're heading back to where we started – but a lot more battered and bruised.
As SmartCompany celebrates its fifth birthday, we're looking forward and backwards in a special two-part feature.
In part one, we take a <a href="https://www.smartcompany.com.au/economy/048298-the-five-trends-that-shaped-smartcompany-s-first-five-years?utm_source=SmartCompany&amp;utm_campaign=381bc631a2-Tuesday_21_February_201202_21_2012&amp;utm_medium=email">look</a> at the key trends that have shaped the last five years.
In this second part of the special, we've spoken to some of the country's great thinkers to find out what's in store for Australian businesses over the next five years.
What are the themes entrepreneurs need to be aware of? And how should SMEs prepare?
<h3>Volatility rolls on</h3>
If the average deleveraging cycle lasts about a decade, we still have a long way to go before the global financial crisis recedes – and either a bust-up of the euro or a nasty recession from strict austerity measures don't bode well for Europe, and its business partners across the world.
Shane Oliver, head of investment strategy and chief executive at AMP Capital Investors, says private-sector deleveraging among advanced companies will curb economic growth in the years to come – and the past few years' volatility will continue as central banks in Europe and the US continue with their "extreme" monetary policies; that is, holding interest rates around zero.
Lest companies think they can bow out of macro-economic concerns, Professor Kosmas Smrnios, lecturer in entrepreneurship at RMIT, says SMEs can ill-afford to put their heads in the sand by avoiding global competition.
"Organisations will need to look at the big picture," he says. "A parochial stance will be a thing of the past unless someone can deliver a niche product to suit a particular market."
<h3>Technology and structural change</h3>
RMIT's Smrnios says with technology developing in leaps and bounds, the focus is on how organisations can better use technologies to manage global competition and changes in supply. And as the shelf life for products and services shrink, Smrnios says technology will help companies stand out from a pack, be creative and innovative.
The Service 2020: Megatrends for the decade ahead report, conducted by the Economist Intelligence Unit and released last month, says firms will need to use the increased transparency brought by social media to their advantage.
"The clear trend to come out of this [social media] is that organisations understand it's here to stay and they need to harness it," says BDO Australia national chairman Tony Schifmann.
But although few would argue that companies can afford to ignore the enormous audiences of Twitter and Facebook, it'll be imperative for businesses to work out on their return on investment. Social media can go awry or soak up too much time; expect smarter methods to emerge as businesses get smarter with their social media practices.
The effect of technology will be most profoundly felt by the retail sector, says IBISWorld founder Phil Ruthven, likening its impact to the introduction of self-services decades ago. Just as self-service caused the demise of many retailers from the 1960s onwards, he argues, online is doing it all over again.
<h3>A new consumer</h3>
Demographer Bernard Salt says changing business models should be front of mind for all business-leaders.
"It's almost like in the Australian business community, the consumer market was travelling along and then ran into the GFC, and now everyone is battening down the hatches waiting for it to pass. But my view is we'll come out of the storm pointing in another direction," Salt says.
"Big picture structural shifts are afoot and business needs to be anything but complacent about strategic thinking."
"If you've invested in a business predicated on a model based on the 1970s through to 2010, and the model has genuinely shifted, then no amount of smart business practices will fix it."
So who's in line? Salt says by 2020, between 15-20% of retail sales could be competing online, having a profound impact on retailers and the traditional consumer model.
Similar change will sweep through the tourism industry, which has traditionally been predicated on mum, dad and the kids going on holiday in Queensland rather than jumping on a Jetstar flight to Bali.
And then there's manufacturing: Salt says although Germany has managed to retain its manufacturing sector, this is largely because its manufacturing is value-added, sophisticated and generally can't be replicated in China – yet. These are some weighty questions for out-of-favour sectors.
<h3>Sustainability</h3>
Smrnios says sustainability will be another key theme in business for the next five years.
With the carbon tax and associated compensation taking force later this year, and the commitment of Labor and the Greens to prepare for the "green economy", SMEs are urged to familiarise themselves with the financial incentives and government programs for greening up.
<h3>People power</h3>
An ageing population and ongoing skills shortages mean staffing will remain a key issue for entrepreneurs in the years ahead. Smrnios says the focus will be on finding and retaining people who:
<ul>
<li>have the appropriate skills;</li>
<li>fit in with the culture,</li>
<li>can work in teams;</li>
<li>solve problems; and</li>
<li>be up-to-date with technology.</li>
</ul>
Beyond the issue of Australia's ageing population – how will it be funded, how much longer people will have to work, how will the government and companies deal with foreign labour – industrial relations will likely loom as a hot-button issue for the country.
Phil Ruthven of IBISWorld says there is "some suggestion that the industrial relations legislation [Fair Work] may be a bit of time bomb for the future," particularly among mining and construction companies.
Time will tell what the Fair Work review throws up, and how the Coalition would change things if it won the next election. No doubt we'll get yet another system that will claim to get the balance right.
This article originally appeared on<a href="https://www.smartcompany.com.au/index.php" target="_blank"> SmartCompany</a>.
 
 
 
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Five key trends for the next five years

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The body charged with mediating disputes on retail leases in Victoria says "financial tightness" among landlords and tenants is likely driving a surge in conflicts.
The state's Small Business Commissioner Geoff Browne says the number of complaints about retail leasing conflicts soared to 611 in the six months to December last year, from 501 the previous corresponding period.
The complaints cut both ways: landlords are often chasing rent from tenants, and tenants are seeking the return of security for the lease.
Browne says data from the Office of the Victorian Small Business Commissioner suggests that there's been growth in the number of landlords chasing tenants who may have closed up shop over the past 18 months or so.
"I've seen a number of disputes where tenants have walked away because the business is not generating sufficient revenues," he says.
Another cause of dispute is appropriate rent increases, with valuers often sought by tenants who insist that the requested rate is too high for market conditions.
Browne says it's imperative that tenants understand their obligations and honour their contracts, even in difficult economic conditions.
Conversely, landlords need to ensure they disclose all relevant information to tenants.
"And in this current economic climate, they need to engage with tenants if there are signs of distress."
"It's usually better to have a tenant rather than a vacant shop."
Brown says he's also hearing a willingness from landlords to look at contractual terms.
The office started life in 2003, and typically sees 10% growth in complaints each year.
Its annual report, released in September last year, showed that retail leasing accounted for about 70% of the 1,553 matters it tackled through 2011.
Browne says the body has a mediation success rate of more than 80%. Under the Retail Leases Act, parties cannot go to VCAT without going to the Small Business Commissioner first.
The comments come as Westfield, Australia's largest shopping centre, throws down the gauntlet at local retailers complaining about rents, tipping international retail behemoths would replace them.
Speaking after reporting that its Australian and New Zealand portfolio was more than 99.5% leased, Westfield co-CEO Peter Lowy "stronger retailer internationally [are] coming in to replace" stores that close within its shopping centres.
Co-CEO Steven Lowy added he would be "staggered" if popular international brands such as Japan's Uniqlo, Abercrombie &amp; Fitch, and H&amp;M didn't enter Australia by 2017.
This article originally appeared on<a target="_blank" href="https://www.smartcompany.com.au/retail/048245-why-retail-lease-brawls-are-increasing-the-victorian-small-business-commissioner"> SmartCompany.</a>
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Why retail lease brawls are increasing: the Victorian Small Business Commissioner

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A former Bankwest customer who says the bank's actions in calling in two loans "ruined" his family and his business has detailed his reasons for signing up to a mooted class action that accuses the bank of improper lending and recovery practices after its takeover by the Commonwealth Bank during the GFC.
Peter Randles, a property developer from Western Australia's North Fremantle, says he is signing up to a mooted class action run by the law firm Slater &amp; Gordon and funded by IMF after the bank's actions caused him to almost lose his family home. He says he is very confident the class action will proceed.
Randles says he and his wife had two accounts with Bankwest: one residential and one commercial. After working two years on an apartment development, Randles says he was told by Bankwest in 2008 that its parent HBOS had no money for development and he should refinance elsewhere.
Randles says after getting approval from the Commonwealth Bank to pay out a home loan account to the tune of $3.2 million, he was told by Bankwest that it wanted both loans paid in full.
Randles says he was informed by the bank that they were in default in July 31, 2008, and over the next two years, the interest rate on the combined loans averaged 18%, after being informed by the bank that they were in default.
The Randles lost their home in April 2010, and their properties were put up for auction by the bank in the middle of last year. ANZ then came forward with a last-minute refinance offer for the $7.5 million debt, with about one-third – $2.4 million – accumulated interest.
"The basis of our claim is by not accepting the full payout on our residential account, and we'd had that account for 20 years, we want all for our penalty interest back. The domino effect for not accepting that payment is ruinous," Randles says.
But Bankwest says it strongly denies the allegations.
"Due to the GFC and the broader economic environment property values and property development in general suffered between 2008 and 2011," a spokesperson said.
"Bankwest assisted many customers through this period and continues to do so."
"Bankwest has over a million customers and over the past 18 months has had the largest increase in customer satisfaction of all banks across Australia."
The comments follow confirmation from Van Moulis, commercial litigation lawyer at Slater &amp; Gordon, that he is working on due diligence on behalf of a group of dozens of aggrieved borrowers, primarily property developers.
Bankwest was eventually purchased by CommBank for $2.1 billion in December 2008; the complaints of the property developers centre on sudden demands for payment and excessive interest payments after that deal.
A Sydney property developer, Guy Goldrick, has argued that a provision allowing CommBank to claw back bad and doubtful debts from HBOS led the bank to make harsh decisions on loans.
In documents from IMF, managing director Hugh McLernon says while "little is known" about an agreement allowing CommBank to claw back part of the purchase price for Bankwest from the vendor, "what is clear is that CBA called upon the warranty and was paid some $200 million".
"At the same time some commercial developer clients of Bankwest believe they were hard done by when Bankwest revaluated their security and called up their loans in the period after CBA took control of Bankwest," McLernon writes.
"If there was a time limit and if CBA had to call up the loans or take some enforcement action within that limited time in order to get the advantage of the warranty and if that warranty was unlimited, then there is some risk that the CBA has been enthusiastic in its quest to have Bankwest identify and take action against commercial property developers whose loans were within the categories set out in the warranty."
He also notes that Bankwest's statement of financial position, which detailed money owed to them from the Reserve Bank, and other banks and financial institutions, shows that the amount of money pouring into Bankwest soared from zero in July 2008, to $29 million the following month, before swelling to $3.752 billion in December 2008.
The Reserve Bank has told The Age that it had $55 billion deployed helping Australian banks with liquidity by the time of CommBank's takeover of Bankwest, but declined to say whether Bankwest was one of its recipients.
The takeover of Bankwest has already been the subject of an inquiry, although Nationals Senator John Williams has recently flagged an interest in a Senate inquiry into bank practices, following complaints from constituents that loans were being pulled without warning and leading to assets being sold at fire sale prices.
This article originally appeared on <a href="https://www.smartcompany.com.au/index.php" target="_blank">SmartCompany</a>.
 
 
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WA property developer joins the Slater & Gordon class action against Bankwest

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The 102-year-old construction company Kell &amp; Rigby has stopped work at its sites across the eastern seaboard and is reportedly scrambling for a solution to stave off collapse, after losses from apartment projects weighed on the family-run business.
The board's decision to stop work across New South Wales, Canberra and Queensland follows the collapse of talks with a potential partner about a company restructure and refinance.
Construction, Forestry, Mining and Energy Union NSW state secretary Brian Parker is quoted saying that a Chinese investors and property company FKP were the parties that walked away.
<img style="float: left; margin: 5px;" src="/images/stories/kellandrigby.jpg">
James Kell, the managing director whose great-grandfather founded the business, says that two apartment projects – one ahead of the Sydney Olympics, and another in Sydney's Rushcutters Bay – had damaged the company. "The traditional builder contract model for apartments does not work," the Australian Financial Review quoted him saying.
Kell <a href="https://www.propertyobserver.com.au/news/kell-rigby-one-of-australia-s-oldest-most-respected-building-companies-set-for-voluntary-administration/2012020853012" target="_blank">also told Macquarie Radio yesterday</a> that the company is "still talking about a way out of this, about a solution".
But the news puts hundreds of jobs at risk, with the CFMEU's Brian Parker tipping contractors and more than 50 businesses will also be hit by a collapse.
Brian Seidler, of the Master Builders Association in NSW, says it's a "sad day for the building community in NSW".
"These companies played a substantial role in what the city [Sydney] looks like, and there's not many left."
He says that the building industry in the state is not good at the moment, but companies need to take steps to ensure they were not taking work that costs them money.
"The environment is it's a client's market."
According to the Australian Financial Review, the company had annual turnover of $150 million, and says the CFMEU and its lender, Commonwealth Bank of Australia, had been fair to the company.
Although there were predictions the company would enter collapse today, there were no listed changes for the company on the Australian Securities and Investments Commission website this morning.
The company's website was not online this morning. Kell and Parker were contacted for comment.
This article originally appeared on <a target="_blank" href="https://www.smartcompany.com.au/index.php">SmartCompany.</a>
 
 
 
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Construction company Kell & Rigby stops work as financial talks collapse

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The listed law firm Slater &amp; Gordon has confirmed it is working on a class action against Bankwest, alleging improper lending practices after its takeover by Commonwealth Bank of Australia during the global financial crisis.
Van Moulis, commercial litigation lawyer at Slater &amp; Gordon, says he's working on due diligence on behalf of a group of more than 27 aggrieved borrowers. Slater &amp; Gordon is working in tandem with the litigation funder IMF.
Moulis says the borrowers are primarily property developers, including co-ordinator Guy Goldrick, a Sydney property developer who has accused Bankwest of pulling loans at short notice and for insufficient reason.
Moulis says he's "reasonably confident" the case will proceed, calling on property developers who believe they were victimised by "improper" lending practices and recovery practices around 2008 to contact the law firm.
A Bankwest spokesperson says the bank will "always consider and respond to any legitimate query raised by a customer."
The confirmation comes as Nationals Senator John Williams speaks to fellow Senators about the prospect of a Senate inquiry into whether banks are pulling loans to small business clients, including farmers, leading to assets being sold at rock-bottom levels.
Williams told SmartCompany earlier this week there are "appalling" examples of asset being sold far below their value.
Moulis says a class action would likely complement a Senate inquiry.
"Whatever comes first," he says. "We'll probably end up with both."
Property developer Guy Goldrick told SmartCompany that he had received hundreds of calls from Bankwest customers complaining about the bank's behaviour since its takeover by CommBank.
Goldrick is the owner of Mortgage Wise Australia, and says he was involved in a development that was funded by Bankwest.
The thrust of Goldrick's argument is that a provision allowing CommBank to claw back bad and doubtful debts from vendor HBOS has led to the bank "making harsh decisions".
"It started as soon as it was taken over; people put to the sword by the stroke of a pen," he said.
"We're alleging that most of these loans would have never been considered to be bad or in default, and that all of a sudden the loans were bad.
"The question mark is how they changed in one day."
But a Bankwest spokesperson says Goldrick has no claim against the bank.
"Guy Goldrick is not a customer of Bankwest and he has no claim against the Bank. His allegations concerning Bankwest have no merit."
This article originally appeared on <a target="_blank" href="https://www.smartcompany.com.au/index.php">SmartCompany.</a>
 
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Slater & Gordon considers class action against Bankwest over claims of 'improper' lending practices

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A federal government plan to offer HECS-style loans to students studying a trade or technical skill has been welcomed by building groups.
Writing in The Australian, Prime Minister Julia Gillard notes that although university students can study now and pay back their course costs when they get a well-paying job, students getting high-level vocational skills, including trade and technical skills, cannot.
"We will ensure that students have the same right to borrow so they can study, to get a loan they can pay back from increased earnings," Gillard says.
"The most determined have always made their way. Now we're going to make it easier for them, and for others who have been put off by upfront costs."
According to the report, the plan will be put to the Council of Australian Governments meeting in March.
Master Builders Australia national director of training Alex Maroya says the plan would increase training opportunities for the sector, which is welcomed, but the devil will be in the detail.
"The main pathway into the industry is still the apprenticeship system, so this will largely target people in the industry who are better established," Maroya says.
He says the proposal is an expansion of existing program that provide a range of subsidies for higher-level staff.
The plan would likely get through COAG, he adds.
This article originally appeared on <a href="https://www.smartcompany.com.au/index.php" target="_blank">SmartCompany.</a>
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Builders welcome proposal for trade students to be offered HECS-style loans

The Melbourne-based HLA Group is the latest developer to expand into South East Queensland, lodging plans for a unique mixed-use short-term accomodation and apartment building in Taringa, with the building design inspired by the Glasswing Butterfly.

The development application for 10 Morrow Street seeks approval for a total of 232 dwellings, comprising 116 residential apartments and 116 short-stay accommodation units. The build-to-sell residential component is made up of 31 one-bedroom apartments, 67 two-bedroom apartments, 17 three-bedroom apartments, and a single four-bedroom apartment, offering a diverse mix aimed at singles, couples, families, and downsizers.

<img alt="Taringa" data-entity-type="file" data-entity-uuid="33913cd4-9839-4456-b325-d35b3f8b4694" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.40.26%E2%80%AFPM.png?VersionId=sLvc7jUrYzDwqPDZBPrXTosKHDSp.qrt" />

Designed by Ellivo Architects, the tower takes strong inspiration from nature, with the architectural language driven by one of Queensland’s most delicate species. As described in the planning documents submitted to Brisbane City Council, Ellivo Architects state the design is “inspired by the elegance of the Glasswing butterfly," and mirrors the graceful sweep of its wings, a form that feels light, fluid, and alive.

“Lush subtropical greenery is throughtfull woven throughout, transforming the building into a sanctuary in the heart of the city.”

The proposal positions the building as more than a conventional residential tower, with Ellivo Architects describing 10 Morrow Street as “an urban oasis that blends short term accomodation with residential living. A destination for rest, relaxation, and renewal.”

<img alt="Taringa" data-entity-type="file" data-entity-uuid="84e9a0ff-464e-4973-bffe-5d5a8fe9f087" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.40.32%E2%80%AFPM.png?VersionId=dhX9eVgUaQE2TvCzJPhF8N8_hzYSKpyK" />

Formally, the building’s massing and floorplate are directly shaped by its butterfly inspiration. Ellivo explain that, “adopting the wings of the Glasswing Butterfly, the tower's plan is divided into four distinct quadrants, each shaped to mirror the wing's segmented geometry and taking the slender ‘veins’ up the facade of the tower.”

"This approach results in a sculpted tower form with articulated façades and a strong vertical expression."

<img alt="Taringa" data-entity-type="file" data-entity-uuid="5947011d-ff6c-4a57-bdc1-9072a472a79c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.40.29%E2%80%AFPM.png?VersionId=nnGqd4WCZM8AOJZY.c3u49BO4LurKRhb" />

The Assessment Report by Human Habitats said the 19-storey tower capitalises on its strategic connectivity and prominence at the entrance of Taringa Village and adjoining the Taringa Station.

"The proposal offers a significant revitalisation of the subject site that integrates architectural excellence, innovation, and sustainable design to directly address long-standing connectivity and safety challenges, housing supply , and diversity together with enhanced streetscape activation and convenient access to major transport corridors."

HLA Group Australia is registered to South Yarra and is currently delivering Adamson No.5, just 15 luxury apartments that start from around $2 million.&nbsp;

Joel Robinson

The Butterfly Effect: Glasswing butterfly inspires Taringa apartment development

Sutherland Shire-based developer Sammut Group, who was one of the first Sydney developers to jump to the Gold Coast at the onset of the pandemic back in 2020, is looking to expand its QLD pipeline.

The developer, who will complete COAST on Surfers Paradise's beachfront Garfield Terrace early next year, has filed plans for a 42-unit block on the river in Toowong.

Bureau^proberts designed the Glen Road building, suggesting that 44 Glen "acknowledges a transitioning suburb."

"A place where traditional Queensland living has taken place for centuries; Toowong is seeing a shift of contemporary influence, commercial and retail hubs mixed with well-considered residential offerings – all the while maintain its character and charm," the architecture noted in the Urban Design Report submitted to the Brisbane City Council.

The "well-considered residential offerings" no doubt refers to Consolidated Properties Monarch Residences, which is approaching completion on Coronation Drive, and Graya's ARC Residences a few doors down.

<img alt="Sammut" data-entity-type="file" data-entity-uuid="bc73fa6a-e0c9-4ab1-b8d1-84cb8b45a932" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.27.22%E2%80%AFPM.png?VersionId=fxM0S81Jd.qZJTe5Wdju0TuOfnyxbM3C" />

"With a site rich in history - proud in its riverfront setting, the architectural form of 44 Glen is a direct influence of its contextual place," the report added.

"The considerations of a flood impacted site, adjacent development scales, local view corridors, unique dual river vantage &amp; city aspects result in a shaped, elegant building form proud in its setting."

<img alt="Sammut" data-entity-type="file" data-entity-uuid="53469fd8-e7e4-4a50-a992-417221187e93" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.27.26%E2%80%AFPM.png?VersionId=ohkRkY0dIZlqdfME2EZePsCQavRiBadE" />

They said the mix of four and two-bedroom apartments capture the "fundamental qualities of Queenslander living," translated into the context of a contemporary subtropical building.

Public records show the last time the site traded was last year when JGL Properties bought it for $8.7 million. It sold to Sammut with development approval for The Dell, just 22 luxury apartments.

The Assessment Report by Urbis suggested the new plans "are consistent with the City Plan provisions, particularly the themes and outcomes of the strategic framework, purpose, overall outcomes and the intent of the High Density Residential Zone."

"The proposed changes are generally consistent with the previous approval. Notably, the development continues to deliver a residential scheme with high quality architectural design and features."

They said the proposed change maximises the number of dwellings overlooking the Brisbane River, highlighting its importance as a natural asset in inner city developments.

Sammut makes Brisbane apartment play

After several years defined by rapid price growth, tightening construction conditions and a thinning development pipeline, the Gold Coast apartment market is entering a more considered phase.

Demand for well-located, design-led apartments remains strong, particularly in established coastal suburbs where supply is constrained and planning controls are more defined. At the same time, elevated construction costs, financing pressures and longer approval timelines have forced many developers to recalibrate, resulting in fewer projects, but generally higher-quality ones.

The result is a market that is increasingly polarised. At one end are tightly held, boutique developments targeting owner-occupiers seeking generous internal space, high levels of amenity and proximity to the beach. At the other are larger mixed-use or higher-density schemes that rely on scale, strong branding and careful staging to proceed. What has largely disappeared, although some developers are able to make it work, is the mid-market volume product along the coast.

<article data-scroll-anchor="true" data-testid="conversation-turn-16" data-turn="assistant" data-turn-id="request-68be079c-2280-8332-8559-2c8fc21704c5-15" dir="auto" tabindex="-1">
Buyer demographics are still mixed. Local buyers from South East Queensland are now driving the majority of enquiry and transactions. Where purchasers were predominantly cashed-up buyers from southern capitals which really kicked off the multi-year boom, recent price growth across Queensland has shifted that profile, with SEQ-based buyers increasingly well capitalised and active in the market.

Like the majority of the country, the Gold Coast is expected to fall well short of its housing targets. Around 38,000 new dwellings are required over the next decade to keep pace with population growth, with the majority expected to be apartments in new high-rise buildings. That equates to roughly 50 high-rise developments each year, a figure that is unattainable in the current environment of elevated construction costs and ongoing labour constraints.

When supply falls this far short of demand, upward pressure on prices becomes inevitable, placing developers in a strong position across much of the coast.

Below are 10 of the most notable Gold Coast apartment projects set to come to market next year, developments that reflect where the market is heading and the type of product buyers are increasingly seeking.
</article>

<h2>Exhale 
Where: Surfers Paradise 
Who: SIERA</h2>

SIERA will launch its beachside Surfers Paradise apartment development, Exhale, in early 2026. The project targets the suburb’s missing middle near Northcliffe Beach, delivering just 54 generously scaled two- and three-bedroom apartments, a density blend between high-rise living and full-floor residences rarely seen locally.

Designed by BDA Architecture, the 25-level tower will house a maximum of three residences per floor.

[smartcode_project:default project_id=112661 project_image_fid=300829]

The slender form draws from surrounding sand dunes and the coastal landscape, with two dedicated entry points, one toward Northcliffe light rail station and the other providing direct beach access just 60 metres from the site.

Wellness underpins Exhale’s design. A two-level podium will feature a heated spa, sauna and gym, a Zen garden, a north-east-facing pool, and private dining and lounge spaces that extend daily living beyond the apartment.

[smartcode_project:default project_id=112661 project_image_fid=355937]

SIERA Founder and Director Brent Thompson says the project was shaped around how residents would live, a design process that began even before securing the prime site.

<h2>Sandpiper 
Where: Broadbeach 
Who: Polycell</h2>

Polycell will launch its second Broadbeach project in early 2026, following the success of its debut development, The Rochester, which is approaching sell-out ahead of its late-2027 completion.

<a href="https://www.apartments.com.au/new-apartments/sandpiper-broadbeach-155-old-burleigh-road-broadbeach-qld-4218">Sandpiper</a> will replace the existing Sandpiper Resort on Old Burleigh Road, rising more than 50 storeys and delivering around 200 apartments, predominantly two- and three-bedroom residences, alongside a limited collection of four- and five-bedroom homes.

<img alt="Sandpiper" data-entity-type="file" data-entity-uuid="d4ca0547-afd0-4e1f-9b24-2ebbc0ef3dd6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Sandpiper%202.jpg?VersionId=m8fhW_jnIA9G93M79AQsw29j5NT9r8Bl" />

Designed by BDA, Sandpiper will mirror the elevated amenity offering seen at The Rochester. Residents will arrive via a porte-cochere into a hotel-style lobby, with private facilities spread across three levels including a lap pool with floating day beds, hot and cold plunge pools, sauna and steam rooms, gym and yoga studio, golf simulator, private dining spaces, wine room, and an upper-level residents’ club.

MOTIV is handling the sales campaign.

<h2>Josephine by Mosaic 
Where: Burleigh Heads 
Who: Mosaic</h2>

Bullet-proof South East Queensland developer Mosaic Property Group will unveil its latest luxury Burleigh Heads beachfront apartment development in the new year.

Located on the Esplanade, Mosaic's third on the exclusive strip, <a href="https://www.apartments.com.au/new-apartments/josephine-by-mosaic-166-the-esplanade-burleigh-heads-qld-4220">Josephine</a> will comprise just 27 high-end half- and full-floor homes, all with uninterrupted views across the beach and Pacific Ocean.

[smartcode_project:default project_id=149424 project_image_fid=353507]

Part of Mosaic's Masterpiece Series, Josephine is positioned at the ultra-boutique end of the market, offering generous internal volumes framed by full-height glazing, hand-selected stone, rich timbers and bespoke detailing. The sculptural form, defined by soft curves and arching elements, is informed by the natural movements of wind, water and dunes along the Burleigh and Palm Beach shoreline.

Resident amenities will include a pool, spa, gym and sauna.

<h2>Palmiere 
Where: Palm Beach 
Who: BPG Developments</h2>

BPG Developments will return to Palm Beach early next year with <a href="https://www.apartments.com.au/new-apartments/palmiere-66-jefferson-lane-palm-beach-qld-4221">Palmiere</a>, seven years after completing Sable Palm Beach nearby.

Led by Glen Williams and Nick Parr, the builder-developer will deliver 71 two- and three-bedroom apartments and a small collection of townhouses across a 14-storey building fronting Jefferson Lane.

Designed by Plus Studio, the project draws on Queensland’s coastal vernacular through textured render, rebated concrete panels and aluminium fins. Wellness facilities will include a pool, gym and yoga deck.

<img alt="Palmiere" data-entity-type="file" data-entity-uuid="593192d9-1c75-49e3-980f-e2e9d2f124b3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%209.47.40%E2%80%AFAM.png?VersionId=OJ09LnC.q2eXAiqJWG6QLr0JRxhkISlC" />

“Palmiere represents a natural extension of BPG Developments’ growing coastal portfolio and reinforces our commitment to delivering high-calibre residential projects across Southeast Queensland.”

“Palm Beach embodies the core principles of our approach. A bespoke, refined design, exceptional craftsmanship and a genuine connection to place.

MOTIV will handle the sales campaign.

Director Carly Cottam says Palmiere will appeal to a large section of the market seeking a luxury address in an attainable price point, just one block back from the beach. 
 
“A site like this is incredibly rare and we expect the market to react positively and swiftly when we launch early next year.”

<h2>What: Bronze on Chevron 
Where: Chevron Island 
Who: Gardner Vaughan Group</h2>

Brisbane-based Gardner Vaughan Group (GVG) is making its Gold Coast debut with<a href="https://www.apartments.com.au/new-apartments/bronze-on-chevron-8-mawarra-street-surfers-paradise-qld-4217">Bronze on Chevron</a>, a 119-apartment development scheduled to launch in early 2026.

The project will comprise one- to four-bedroom apartments alongside two ground-floor retail tenancies designed to complement Chevron Island’s village character.

<img alt="Bronze" data-entity-type="file" data-entity-uuid="57842e97-394c-4c3d-b51d-03925f3645b8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%2010.41.33%E2%80%AFAM.png?VersionId=87P1xIhmx0D3.ITqxcL8dxSSj3I_nCXB" />

GVG Chief Executive Officer Simon Betteridge described the move as “a strategic and natural evolution” of the company's growth, extending its legacy of reliable delivery across Brisbane, the Sunshine Coast, and Moreton Bay.

“Our entry into the Gold Coast is both a strategic and natural evolution of our business,” said Simon Betteridge, Chief Executive Officer of GVG. “We’ve long admired the Gold Coast’s lifestyle offering, cultural vibrancy and strong demand for thoughtfully designed homes. We’re excited to bring our approach to development into this dynamic market.”

Colliers will manage the sales campaign.

<h2>Rana 
Where: Palm Beach 
Who: Macquarie York</h2>

Macquarie York is expanding its Palm Beach portfolio with <a href="https://www.apartments.com.au/new-apartments/rana-palm-beach-16-20-twenty-third-avenue-palm-beach-qld-4221">Rana</a>, a 13-storey residential development designed by Plus Studio.

Located on Twenty Third Avenue across an amalgamated 1,215 sqm site, Rana will deliver 60 apartments, 44 two-bedroom and 16 three-bedroom homes, supported by a recreation deck featuring a pool, gym, sauna and BBQ terrace.

<img alt="Rana" data-entity-type="file" data-entity-uuid="6afd9552-f6c5-4a79-8316-dd850663469d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%2010.42.54%E2%80%AFAM.png?VersionId=1KkD2F9cLVCpiihmG9DZJKrx3EM.llGQ" />

The design adopts a refined, coastal palette of natural materials, defined by slim slab edges, vertical battens, and deeply set recesses that enhance both privacy and architectural rhythm.

Plus describes the tower as “a refined yet understated aesthetic that balances warmth with contemporary elegance”.

The developer, led by Roy Skaf, also has a luxury project on Jefferson Lane, Azariah, launching in 2026, as well as a riverfront tower on Sunset Blvd in Surfers Paradise.

<h2>Where: Kirra 
Who:&nbsp;Immerse Projects</h2>

Immerse Projects will bring its next Kirra development to market in 2026, following the completion of Rhythm earlier this year.

Founded by industry veteran John Kearney, the group will deliver 105 apartments across a 14-storey tower on <a href="https://www.apartments.com.au/new-apartments/5-haig-street-coolangatta-qld-4225">Haig Street</a>,, just metres from the beach. The mix includes two- and three-bedroom apartments, as well as three two-storey beach houses.

Apartments will start from 70 sqm internally, while the amenity-rich podium will feature a lap pool, spa, gym, children’s play area, and co-working spaces designed to complement a relaxed, connected lifestyle.

<img alt="Haig" data-entity-type="file" data-entity-uuid="61362ae6-6ee6-4f91-9e4d-854243d04399" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%2010.47.10%E2%80%AFAM.png?VersionId=cmfd_Lg0ahgroMZiOBqDa3.SI0aUqiLR" />

Kearney says the design “embraces its coastal setting,” enhancing Kirra’s distinctive character while providing attainable alternatives to the full-floor apartments that dominate the beachfront.

“Kirra has much more amenity on its doorstep than other parts of Coolangatta,” Kearney said. “There’s a real sense of identity here-it’s a really special place”.

<h2>Nalu 
Where:&nbsp;Miami 
Who:&nbsp;Monaco Property Group</h2>

Monaco Property Group will launch <a href="https://www.apartments.com.au/new-apartments/nalu-miami-122-marine-parade-miami-qld-4220">Nalu</a> next year, a luxury beachfront apartment development on Marine Parade in Miami.

Designed by Koichi Takada Architects in collaboration with BDA, the low-rise, U-shaped building will deliver 46 two- to five-bedroom residences, each with expansive wrap-around balconies capturing panoramic ocean views.

The project occupies a 7,238 sqm site acquired for $70 million and will feature resort-style amenities including a pool, lounge areas, yoga space, hammam, steam rooms, and hot and cold plunge pools, all set within a lush landscaped environment.

<img alt="Nalu" data-entity-type="file" data-entity-uuid="9e2fecb7-81b0-44e5-8c02-05ff08f1c603" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%209.37.10%E2%80%AFAM.png?VersionId=Ci91LNpLfK_9S5uexOfGwaTmybM6DPoc" />

Monaco Property Group Co-founder Jonathan Grasso says their plans for Nalu will be defined by a commitment to quality, incredible landscape, world class amenity and wellness and an architectural statement of excellence.

“The site is not only one of the largest beachfront development sites on the Gold Coast, but its position overlooking the beachfront and close proximity to the heart of Nobby Beach provides a truly unique opportunity for our team to create an incredible residential development that will be a legacy for years to come."

<h2>Avva 
Where: Broadbeach 
Who: Bassar Group</h2>

Bassar Group will take to market Avva next year, its sister tower to the successful Infinity development on Surf Parade.

Designed by BDA, the 33-storey tower will deliver 56 half- and full-floor three-bedroom apartments, each spanning approximately 166 sqm. The angular form will add a sculptural presence to the Broadbeach skyline.

<img alt="Bassar" data-entity-type="file" data-entity-uuid="6eafc222-7da9-4e42-8a1a-998d8a2ae06d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%208.56.00%E2%80%AFAM.png?VersionId=br3dEys85q0fB2bmwbDLfTgSaeKqM7Z8" />

Amenities will include a lap pool, wellness area, yoga deck and sauna facilities. The project will replace the former MaxMar apartment block.

Bassar Group Director Leo Sarris said the team is proud to contribute to a suburb they call home, describing Avva as a “wonderful addition” to Broadbeach.

<h2>Where: Kirra 
Who: MAYD Group</h2>

MAYD Group is expected to launch its $350 million luxury hotel and apartment development in North Kirra next year.

Designed by MAS Studio in collaboration with Mim Design, the mixed-use project will comprise a 160-room five-star hotel and 60 private residences, including two penthouses and five double-storey beach houses, across a 4,742 sqm site with 90 metres of beachfront.

Resident amenities will include a private pool with wet edge, yoga lawn, bar, cinema and relaxation zones, alongside access to hotel concierge services, dining and lounges.

<img alt="Mayd" data-entity-type="file" data-entity-uuid="fe40866c-79b1-4cd9-8b69-0c92ff3fe509" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%208.57.10%E2%80%AFAM.png?VersionId=M0pZ9asXdlH2XBf4.im70vVMzzukzuFd" />

MAYD Group Founder and Director Todd Mould said the project capitalises on North Kirra’s rare beachfront scale and proximity to the expanding Gold Coast Airport, offering a balance between holiday and permanent living.

&nbsp;

“We are extremely bullish on the Gold Coast luxury market and will continue to invest in strategic sites that allow us to deliver best-in-class luxury projects across residential and mixed-use asset classes," Mould says.

The top 10 new apartment projects to launch on the Gold Coast in 2026

Geocon Group has been given the green light to develop its Woden Pool Project, securing the future of the aging community facility with a contemporary aquatic centre designed for year-round use by families, schools, fitness enthusiasts and the broader community.&nbsp;

There will be 286 new units delivered as part of the first stage. There will be around 700 units across three stages.

“This approval represents an important step forward for Woden and reflects a significant private investment into a major community sport and recreation facility," Geocon says.

"We understand how important the Woden Pool has been to local families over the years and we are proud to be contributing to infrastructure that will deliver long-term benefits for residents, families and the broader community, while supporting the continued revitalisation of the Woden Town Centre.”

The new facility will comprise:

• An eight-lane 25 metre lap pool

• A 20-metre warm water program pool with relaxation zone

• Dedicated facilities for families and recreation, including a toddlers’ pool, learn to swim pool, leisure pool, and indoor and outdoor water play splash pads

• Wellness amenities, including steam and sauna facilities, a marshalling area to support organised programs and events, and an on-site café

These inclusions have been designed to support year-round use, cater to a wide range of user groups and meet contemporary standards aquatic facilities. Supporting Woden's Evolution The Woden Pool Project aligns with the ACT Government's vision for Woden Town Centre as a vibrant, high amenity urban hub.

With approval secured, Geocon Group is preparing to formally release the associated residential apartments to the market, capitalising on the project’s prime Woden Town Centre location and its integration with a major new indoor aquatic facility.

“We have designed the residential apartments as part of a well-considered Woden precinct that prioritises lifestyle, long-term amenity and connectivity," added Geocon.

"Future residents will benefit from a premium town centre location and the integration of high-quality recreation and lifestyle infrastructure, providing confidence in the quality and longevity of the development.”

The residential release will highlight the unique opportunity to secure housing within a precinct anchored by significant new lifestyle and recreation infrastructure. Works are expected to commence on site once all relevant approvals are in place. The existing ice rink will continue to operate as usual, and the current 50-metre outdoor pool will remain operational during its normal seasonal opening days and hours.

Geocon approved for Woden Pool project

&nbsp;

<a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Group</a> has secured development approval for its $240 million Flourish Symphony, a project set to bring affordable apartment living to <a href="https://www.apartments.com.au/developments/south-brisbane-qld-4101">South Brisbane</a>.

With prices starting from $665,000, Sherpa begins to move <a href="https://www.apartments.com.au/new-apartments/symphony-south-brisbane-21-23-cordelia-street-south-brisbane-qld-4101">Symphony</a> into its delivery phase, with construction now commenced. They will deliver 138 apartments across 27 levels, offering a mix of one-, two-, and three-bedroom residences.

Brisbane is experiencing a major population growth as it gears up for the Olympics, with research suggesting its population will reach 4.34 million by 2066, leading to a surge in demand for affordable residential apartments.&nbsp;

“Getting council approval marks an exciting milestone for us at Sherpa,” said Christie Leet, founder of Sherpa Group.

[smartcode_project:default project_id=7574 project_image_fid=3770]

“Brisbane is such an incredible location and is undergoing a period of major growth as it looks to host the 2032 Olympic Games and enjoys significant population growth and supply challenges. We hope to accommodate this growth by delivering affordable apartments that locals have a genuine chance of securing when some apartments in the market are cost-prohibitive.”

The DA approval follows closely behind Symphony’s sales success, which has seen 73 per cent of apartments sold within one week of launching.

The project builds on the group’s success in Palm Beach on the Gold Coast, where it has recently launched Flourish Oasis.

“We are immensely humbled by the response we have received for the Flourish brand so far -it’s clear each project has resonated with buyers seeking thoughtful, innovative design,” added Leet.

“We want to create spaces where everyday life feels extraordinary – that’s what Flourish is about.”

[smartcode_project:default project_id=7574 project_image_fid=5155]

Located at 21–23 Cordelia Street, Symphony is positioned at the heart of Brisbane’s entertainment, offering exceptional walkability to dining, leisure, galleries, the CBD and transport hubs.&nbsp;

Residents will have access to a rooftop oasis that rivals 5-star resorts, showcasing a wellness and recreation area spanning more than 1,400 sqm across two levels, featuring a heated pool, steam room, saunas, and hot and cold plunge pools.

Additional amenities include work-from-home spaces, private treatment room, pool deck cabanas and private outdoor BBQ areas; a private dining room and residents’ lounge; a fully equipped gym and yoga studio; and panoramic views of the Brisbane skyline and Mt Coot-tha.

Sherpa Group has been among the most prolific developers on the Gold Coast in recent years, undertaking 15 projects since 2018, now adding Symphony to its $1.35 billion workbook.

[smartcode_project_cta:default project_id=7574]

Madeleine Heffernan

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Madeleine Heffernan

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