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Myer has set up a new corporate entity as a mechanism for a possible network of free-standing stores, a Myer spokesperson confirmed to SmartCompany.
The new business, FSS Retail, which is understood to stand for Free Standing Stores, was recently set up by the department store giant, as reported by Fairfax.
Fairfax obtained documents showing the new entity was set up 12 days ago.
It is understood that this could see Myer acquire more retail businesses and operate stores outside of its department store network.
FSS Retail has three directors, Myer chief executive Bernie Brookes, Myer chief financial officer Mark Ashby and Myer head of strategic planning Greg Travers, <a target="_blank" href="https://www.smh.com.au/business/myer-move-to-extend-its-retail-options-with-fss-retail-20140302-33tyb#ixzz2ur1YFavy">Fairfax reports</a>.
A Myer spokesperson told SmartCompany that it was “created as a formal mechanism” in case the business wished to pursue free-standing stores, but no further details of potential acquisitions could be revealed at this stage.
Myer currently owns the fashion business Sass &amp; Bide, and operates the womenswear brand’s 25 retail stores in Australia and internationally.
The new entity comes amid reported further talks between Myer and David Jones regarding the merger proposal Myer put to its rival in November last year.
It also comes as Myer reappointed <a target="_blank" href="https://www.smartcompany.com.au/marketing/sales/35746-david-jones-and-myer-merger-talks-simmer-as-accc-keeps-close-eye"> Bernie Brookes for another year</a> as chief executive and managing director, and suggested he would be a good chief executive for a combined business with David Jones.
Retail Doctor Group director Brian Walker toldSmartCompany that a move by Myer to create a network of free-standing retail stores was smart.
He says the department store concept is maturing and the business needs to find new ways to best represent its shareholders.
“Its core business is as a mass-merchandise retailer… it is the house of many brands,” he says. “This is what Myer can do to continue to drive its shareholder’s returns.”
He thought it made sense for the business to develop an equity funding arm, and to have a stake in individual retail brands.
Walker says the move also reflects the impact of international retailers coming to Australia, which is shaking up ownership models as local businesses scale up to achieve profits.
“The way to achieve scale is to consolidate and to acquire,” he says.
“Myer can make more money from its existing operations… or make more acquisitions.”
This article first appeared on <a target="_blank" href="https://www.SmartCompany.com.au">SmartCompany</a>.
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Myer could be on acquisition strategy as it sets up new business for free-standing stores

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Retailers seeking tenancy in Australian Westfield shopping complexes are getting reduced rates compared to existing tenants, The Age reports.
The issue of slashing rents to attract new retailers into the group’s shopping centres was first flagged in the retail giant’s 2013 mid-year report, amid rocky times for the retail economy.
The full-year results released yesterday showed that new tenants could be paying around 6% to 7% less than existing tenants seeking to renew their contracts in the malls.
Westfield Group reported a full-year after-tax profit of $1.6 billion for 2013, which was down 6.7% from the 2012 financial year. Its revenue was up 7.4% to $2.385 billion.
In August 2013 when Westfield released its mid-year results, it reported its new tenancy contracts could be lowered by up to 10% in its retail malls.
At the time, Leasing Information Services managing director Simon Fonteyn toldSmartCompany Westfield’s negative leasing spreads were “falling into line” with trends from other major retail centres across Australia.
“In June 2012, The GTP Group took at 10% reduction on new leases, while in December 2011, Stockland reported a 6% reduction,” he said.
Fonteyn said there are “so many reasons” why its retail leases are under strain.
“The malaise in retail is well understood by industry… the drop is a sign of them having to meet the market,” he said.
He said overall renewal rates are down due to the tough retail conditions, so he thinks the move by Westfield is a sign that the retail giant is becoming “more pragmatic”.
Fonteyn said Westfield and other big malls are becoming like “de facto department stores” as major international brands start to make a deeper impact on the Australian market. He said they can take up 15-20 single store fronts within a centre to make mega-stores.
Partner at Lowe Lippmann Chartered Accountants and Business Advisors, Brian Gordon, told SmartCompany at the time he was surprised Westfield would negotiate rents to that degree, but figured the retail giant had “no choice”.
“It is extremely well known that Australian shopping centre rentals are massively higher than everywhere else internationally,” he said.
The news from Westfield comes as two of its core tenants, Myer and David Jones, are <a target="_blank" href="https://www.smartcompany.com.au/marketing/sales/35746-david-jones-and-myer-merger-talks-simmer-as-accc-keeps-close-eye">reportedly in merger talks</a>. After knocking back an approach from Myer in October 2013, David Jones is reportedly set to start talking to its core rival to investigate the details of a potential $3 billion merger.
This article first appeared on <a target="_parent" href="https://www.SmartCompany.com.au">SmartCompany</a>.
            
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New tenants could get sweeter deal as retail troubles hit Westfield

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Australia could fall behind in the Asian Century if it does not <a href="https://www.smartcompany.com.au/growth/economy/33793-infrastructure-woes-as-sydney-cross-city-tunnel-placed-in-receivership" target="_blank">improve its infrastructure</a>, innovation and creativity, experts have warned.
Ken Henry, a former Treasury secretary and current director of the National Australia Bank and the Australian Securities Exchange told <a href="https://www.theaustralian.com.au/business/economics/former-treasury-secretary-ken-henry-warns-of-infrastructure-shortfall/story-e6frg926-1226821994365#mm-premium">The Australian</a> he thought Australia could be lacking in sufficient port, road and rail links to be an effective exporter during the Asian development boom.
"We do not have the infrastructure requirements for an economy and a society that is well connected with Asia," Henry said.
Henry was at the forefront of the Gillard government’s white paper into the Asian century and said there is “enormous potential” for Australia during Asia’s boom phase.
However he said “we simply don't have the infrastructure assets, the infrastructure services, to ensure that in the commercial space – but also the social space – we make the most of those connections”.
Henry is involved in a green paper by the SMART research group which is calling for “clearer decision-making to inform a national market for Australia’s infrastructure”.
He thinks lots of questions regarding our infrastructure should have been asked 10 or 20 years ago, not now, The Australian reports.
CPA Australian chief executive Alex Malley echoed Henry’s concerns in the accountancy body’s pre-budget submission to the federal government.
“With tentative signs of economic recovery in key global markets and a continued focus on Asia, Australia is uniquely positioned to take advantage of what has now become the Asian Century,” Malley said.
“However, despite our ‘open for business’ mantra, we are not the sole trader in our region. Across Asia, new and existing competitors are increasingly moving into areas Australia once regarded as areas of traditional advantage.
“This is not a time for complacency. It is the time to boldly step up.”
Malley said that as a nation, Australia must now make “brave choices” to secure our success in the Asian century.
“We must make sure that we do everything possible to support Australian businesses to be globally competitive.”
He said Australia is poised to take centre stage on a global level as we host the G20 Summit.
“Just as the strength of our economy made us an international example in weathering the worst excesses of the global financial crisis, this is a time when we should again demonstrate global leadership by making the tough decisions that will strengthen the global competitiveness of Australian business.”
The CPA Australia submission reiterates that Australia’s ability to compete will be “put at risk” unless action is taken to address the infrastructure deficit when it comes to road, rail, air and sea transport.
“Without the ability to safely, efficiently and effectively transport goods, data and people within Australia, our businesses face a significant disadvantage,” it said.
The group said funding of infrastructure should include user-pays principals, along with selling suitable public assets and investing the proceeds into new projects.
“CPA Australia calls on the government to consider providing a 40% or 50% discount on income earned from investment in infrastructure projects to attract more private capital to these major projects which will drive the future of Australian business.”
This article first appeared on <a href="https://www.SmartCompany.com.au" target="_blank">SmartCompany.</a>
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Australia could luck out in Asian Century due to poor infrastructure

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Auction clearances in Sydney and Melbourne continued to ride high on the weekend following a solid start to the selling year last week.
The news comes amid expert warnings of a <a target="_blank" href="https://www.smartcompany.com.au/finance/investment/35505-will-there-be-a-property-apocalypse-economists-warn-house-prices-will-plummet-if-interest-rate-stays-low">potential property bust</a>, if banks keep loaning increasing sums of money at low interest rates.
In Sydney 84.4% of properties that went to auction were sold, while in Melbourne the clearance rate was 75.6%.
The average price for houses sold by auction in Sydney was $970,000, up from $835,000 for the same weekend last year. For Sydney units, the average median price was $672,500, up from $622,000 last year.
The most expensive auction sale in Sydney was a four bedroom home in Strathfield at $2.28 million, while the most affordable was a two bedroom unit in Auburn, selling at auction for $400,000.
Australian Property Monitors senior economist Andrew Wilson told SmartCompany that in Sydney, it was the second week in a row of solid clearance rates, however last week there were small numbers of properties on the market.
“We need some more auction results to get a true sense of what is to happen…it is no surprise that the energy from last year is continuing into this year, at a higher level than where the market ended (in 2013),” he says.
He says as the property year warms up, the higher priced properties in the more exclusive areas will start to appear on the market, giving a better indication of the sorts of average median sales figures likely to dominate this year.
“We have anecdotal evidence to say that the sales in Sydney were above the reserves set,” he says.
In Melbourne, the average median house price was $695,000, up from $576,250 for the same weekend in 2013, while the average price for units sold at auctions was $430,000, up from $456,000 last year.
The most expensive auction in Melbourne was a three bedroom house in Elsternwick, selling for $1.22 million. The cheapest was a one bedroom apartment in Richmond, at $282,200.
Wilson says while the figures look solid for Melbourne, more time is needed to get a reliable indication of the trends. He says Melbourne’s outer east belt is proving a hot spot, with a strong clearance rate on the weekend, while the inner east was also performing well.
He expects to see a greater flood of properties on the Melbourne auction market throughout February as people try to get in before the Labour Day long weekend.
“With bank mortgage rates heading downwards and banks getting more competitive, there is more incentive for buyers,” he says.
However he warns with more job losses at factories in Victoria, confidence to borrow may wane as people become more concerned about their job security.
In Brisbane, where there are fewer auctions, the clearance rate was 57.7%, with the median house price at $626,000, up from $446,000 for the same weekend in 2013.
This article first appeared on <a target="_blank" href="https://www.SmartCompany.com.au">SmartCompany.</a>
 
 
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Property sales take off over the weekend, but expert warns time will tell

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The ANZ bank’s fee for late credit card payments has been found to be "extravagant, exorbitant and unconscionable" by a Federal Court of Australia judge.
<a target="_blank" href="https://www.smartcompany.com.au/growth/economy/35473-ten-and-fairfax-look-for-happy-marriage-with-talk-of-dating-sites-merger-jp-morgan-to-pay-1-45m-to-settle-sexual-harassment-case-midday-roundup">Justice Michelle Gordon ruled yesterday</a> on a class action brought against ANZ by law firm Maurice Blackburn and funded by Bentham IMF (Australia) on behalf of over 43,000 ANZ customers.
It was ruled that the fee of $20 to $35 was much more than late payments cost the bank, which was around 50 cents to $5.50 per late payment.
Consumer group CHOICE chief executive Alan Kirkland said the decision should send a message to businesses that late fees must reflect actual costs.
"We welcome the Federal Court decision today, which should make it very clear that the days of charging excessive fees to bolster profits are over,” he said.
“It’s not the role of a business to punish customers,” he said. “We expect to see late payment fees to come down in other sectors, such as telecommunications, as a result of this decision.”
Justice Gordon found late payment fees charged more than six years ago could be claimed by customers in compensation, as they were not barred by the statute of limitations. This could lead to millions in back payments to customers.
The late credit payment fee was one of five fees in question, with the judge ruling in favour of the bank on the other four fees. The other disputed fees were over-limit fees on credit cards, as well as honour, dishonour and non-payment fees on deposit accounts for Australian customers. Justice Gordon said these fees were not illegal.
ANZ chief executive Australia Philip Chronican said in a statement he was pleased these four fees were not deemed penalties. In regard to the late payment fee ruling, Chronican said the implications were “still far from clear and it is likely to be some time until this matter is finally resolved”.
Law firm Maurice Blackburn said in a statement the ruling on the late credit card payment fine means that thousands of customers should be compensated.
It said the judgment will set the precedent for seven other Australian banks that have similar class actions awaiting them. These include the Commonwealth Bank, Westpac, NAB, BankSA, Bankwest, Citibank and St George.
Maurice Blackburn head of national class action Andrew Watson said it had been a “long tough fight”.
"What has been decided by the court will mean a better deal for bank customers from now on, and potentially a better deal for consumers more broadly where these same principles apply.”
This article first appeared on <a target="_parent" href="https://www.SmartCompany.com.au">SmartCompany.</a>
 
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Federal Court rules ANZ's late credit payment fees "extravagant, exorbitant and unconscionable"

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Serviced apartment franchise <a target="_blank" href="https://www.smartcompany.com.au/smart50-2007/7559-quest-serviced-apartments">Quest</a> is facing a number of exits from its network following settlement negotiations in a class-action lawsuit, according to the <a target="_blank" href="https://m.afr.com/p/business/property/quest_loses_franchisees_after_lawsuit_B2fY0EQOkuDEE9Xsh0IMdI">Australian Financial Review</a>.

Nine Quest apartment block locations are reportedly set to “debrand” after a claim against Quest in the Federal Court saw 29 franchisees take issue with proposed changes.
These changes include a proposal to lift the group’s gross sales fee on franchisee agreements from six to 8%, as well as the inclusion of a “brand fee” of 1%.
The AFR reports Quest apartments that have debranded as part of the class action include one in Flinders Lane, Melbourne, and one in Darling Harbour, Sydney.
The report says it is understood 12 franchisees have sold their business back to Quest. Reportedly two franchisees that have five properties are still pursuing the case.
Quest was contacted to confirm the details, but a spokesperson declined to comment.
Franchise Council of Australia deputy chairman Jason Gehrke told SmartCompany that in any scenario, the challenge for franchisees that “debrand” and go on to operate their business under their own steam is a possible restraint of trade agreement.
This could be in place to ensure they are not competing directly with the franchisor, or other franchisees in the area for a period of time.
Gehrke advises any franchisee wanting to break from the franchisor to “try to negotiate terms of mutual consent”.
“If not, you risk a full and robust response from the franchisor,” he says.
Gehrke says franchisees that do go out on their own often find it easier if they are in a fixed location rather than being a mobile business, as it is more obvious when in a fixed location that the business is now trading under a new name.
In 2013, <a target="_blank" href="https://www.smartcompany.com.au/growth/franchising/31016-royalty-holidays-a-no-go-after-legal-battle-over-gym-franchise">a High Court case in New Zealand</a> saw a franchisee ordered to sell back the business to its franchisor after it rebranded three gyms without permission.
Owner of franchise Club Physical, Paul Richards, received an email “totally out of the blue” from a franchisee saying three of his ten franchised gyms were being renamed.
The franchisee, Stuart Holder, pulled out of the Club Physical franchise after the end of an initial two-year franchise royalty holiday and re-branded the three gyms as “Jolt Fitness”, putting in place new signs, classes and staff uniforms.
Justice Helen Winkelmann granted an injunction requiring Holder to close the gyms immediately but then allowed Jolt Fitness to keep trading while the two parties negotiated an amicable handover.
The Quest franchise was founded in 1988 and last figures on its website show that it has around 150 properties across Australia and New Zealand.
This article first appeared on <a target="_blank" href="https://www.SmartCompany.com.au">SmartCompany.</a>
 
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Quest serviced apartment franchisees look to "rebrand" in wake of lawsuit

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The chief executive of construction company Grocon, Daniel Grollo, is handing over the baton to deputy chief executive Carolyn Viney – the first non-family member to take the top job in the company’s history.

Grollo, who has been CEO for 14 years, will take the role of executive chairman and retain oversight and full ownership of the company.
Viney has been the deputy chief executive since 2012, focusing on the company’s property development arm among other responsibilities.
Grocon began as a family business in the 1950s. It was established as a concreting company by Luigi Grollo and in the 1980s his son Bruno took charge. In 1999, Daniel, Bruno’s son, stepped into the top job.
Grollo said Viney had been intimately involved in the strategic direction of the business and also responsible for the day-to-day running of the business.
“Carolyn has had a strong hand in Grocon’s recent success, including growing the company’s portfolio of projects and overseeing successful project delivery,” he said.
“This is a succession which has long been anticipated by and has been welcomed by our people and will see us continue to grow our business toward an exciting sustainable future.”
Grollo said he will now focus on diversifying the company into new markets, including offshore.
The Australian Financial Review reported that he would be spending more time in New York, with his first big project the acquisition of an $800 million tower in Manhattan.
The Practice director Jason Cunningham, an advisor to small business, told Smart Company he was not surprised that this succession was planned long in advance.
“I assume Carolyn was groomed in the role for a long time…this is not a knee-jerk reaction,” he says.
Cunningham explains there are two types of family succession planning – voluntary and involuntary. Involuntary usually occurs when there is an unexpected death in the family and other members are forced to step in and run the business.
“This highlights the importance of having a good succession plan in place. You don’t have to do what everyone else is doing; you can think outside the square and have a plan that is right for you.”
He says the last thing you want to do is think, “She’ll be right, I got the business from my dad and I’ll just pass it on to my kids.”
Children may not be interested in the business, or they may not be the right age or in a position to take it on when the owner wants to leave, so keeping an eye outside the family is important, Cunningham advises.
“Sadly, what we see is when things aren’t planned right, and it (handing down the business) doesn’t work.”
This article first appeared on <a target="_blank" href="https://www.SmartCompany.com.au">SmartCompany.</a>
 
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Daniel Grollo hands over CEO role at Grocon to the first non-family member

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Over 50% of the industries that advertise jobs on SEEK in 2013 offered job seekers a higher wage than in 2012, the employment site reports.
In New South Wales, 63% of employers offered job seekers higher salaries than in 2012 and in Victoria 60% offered higher salaries. In Western Australia, 58% offered <a target="_blank" href="https://www.smartcompany.com.au/people/34654-abc-staff-wages-revealed-what-to-do-if-your-team-learn-what-everyone-earns">higher salaries</a>, in Queensland it was 53% and in South Australia 52%.
The report found 40.7% of all industries listed on SEEK offered salary increases above the wage price index of 2.6%.
However, it found the average salary offered on the site was $81,055, slightly down from the 2012 average of $84,458.
SEEK human resources manager Rebecca Supierz said this national decrease in salary reflects a drop in salaries for candidates in high paying sectors, such as mining and construction which have softened in demand.
“Construction and engineering job seekers would have been disappointed to find salary decreases of up to 21% for some roles,” she said.
“However, these roles are coming off a high salary base and when we look nationally, the best paying jobs were still found in the mining resources and engineering sectors.”
The top role for salary growth in 2013 was for local government, up 20% from an average of $57,672 to $69,381.
The highest paying roles on average were for oil and gas geoscientists at $158,671, mining managers at $145,401, mining geoscientists at $139,616, oil and gas drillers at $138,951 and mining engineers at $137,800.
The five lowest paying roles were packers at $42,423, beauty therapists at $42,605, receptionists at $42,611, retail assistants at $44,519 and bakers at $45,162.
The report found wages in the insurance and superannuation sector, and sports and recreation sector were the highest for salary growth last year, up 6% nationally.
In sectors where there were fewer candidates, including healthcare and medicine, the salaries for experienced candidates were up 5%.
In retail, consumer products, community services and development, wages went up by 4%.
Only 9% of industries across Australia experienced no change in salaries, this included IT, financial services and property industries.
The report also found that wages for young people aged 18 to 24 years old were not meeting candidate expectations. 46% of employers think that young people want too much money due to their high standard of living expectations.
“With employers and younger employees divided on the salary debate it is clear the financial and generational chasm in the workplace is widening,” Supierz said.
SEEK spokesperson Sarah Macartney said that this could reflect that many young people who begin full-time work were leaving home for the first time, and realising that their wage did not stretch as far as they anticipated to cover rent and bills.
This article first appeared on <a target="_blank" href="https://www.SmartCompany.com.au">SmartCompany.</a>
 
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Average wage down, but big money still in mining: SEEK salary review 2013

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Chief executives across various sectors are expecting weak <a target="_blank" href="https://www.smartcompany.com.au/growth/economy/35342-nab-survey-shows-business-conditions-up-jb-hi-fi-signals-sales-lift-midday-roundup">business conditions</a> for 2014, according to the latest annual Business Prospects report from the Australian Industry Group.

37%t of CEOs expect business conditions to improve in 2014, 35% expect them to deteriorate and 28% expect conditions to remain unchanged.
In manufacturing, the report found 40% of CEOs are expecting another year of contraction and around one third are anticipating an improvement. Around 32% intend to invest more, while 31% will cut expenses.
In the mining sector, 46% of CEOs were expecting business conditions to deteriorate, with 46% looking to increase expenditure and 38% planning to cut it.
CEOs in the services sector were most optimistic about business conditions, with 44% expecting them to improve and around 75% expecting sales revenue to rise.
Construction sector CEOs are moderately optimistic, with 30% expecting a lift in business conditions and 57% a higher sales revenue.
Across the board, the report found 21% of CEOs think lack of customer demand is the most common growth problem for the year.
Wage pressures were nominated by 15% of respondents as a prime area of concern, followed by business regulation at 11% and the exchange rate at 10%.
A key growth strategy for 20% of CEOs in mining, manufacturing, services and construction sectors was to improve sales for their current range of products.
Reaching out to new customers was a strategy for 21% of construction firms, 16% of services firms, 15% of mining services firms and 14% of manufacturers.
Ai Group chief executive Innes Willox said 2014 will continue to see modest growth in production, sales and employment, as the economy struggles to rebalance against low investment in resource projects and lower commodity prices.
“While low interest rates have begun to have an impact in some sectors and while competitiveness has improved with the lower Australian dollar, we are still some way from the required rebound in the non-mining sectors of the economy,” he said.
“In particular, business investment in the non-mining sectors is set to improve only marginally in 2014 from very low levels.”
This article first appeared on <a target="_blank" href="https://www.SmartCompany.com.au">SmartCompany.</a>
 
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CEOs tip weak year ahead for businesses

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The Australian Industry Group Australian Performance of Manufacturing Index contracted for the third month in a row in January, down 0.9 points to 46.7 points.
Seasonally adjusted, it remained in negative territory across all the major activity sub-indexes.
Some improvement was found in new orders and employment, with those sub-indexes contracting at a slower rate compared with December, at -48.8 and 48.3 respectively.
Some sub-sectors, however, recorded growth, including food, beverages and tobacco at 54.0, wood and paper products at 61.9, petroleum, coal, chemical and rubber products at 52.7 and non-metallic mineral products at 57.6.
Australian Industry Group chief executive Innes Willox said the year is looking challenging for manufacturers; however, some areas have positive signs of growth.
“Non-metallic minerals – which includes key building materials such as glass, bricks and cement – has improved in response to the beginnings of a lift in residential construction,” he said.
“Some encouraging signs are also evident in food and beverages manufacturing and in petroleum and chemicals manufacturing, possibly due to the lower Australian dollar over recent months.”
This article first appeared on <a target="_blank" href="https://www.SmartCompany.com.au">SmartCompany.</a>
 
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Manufacturing slips for third consecutive month

<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.

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“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.

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[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.

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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.

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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.

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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.

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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.

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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.

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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.

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[smartcode_project_cta:default project_id=152737]

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Melinda Oliver

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