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The manufacturing pain continues. Poolrite, a manufacturer and supplier of pool equipment and supplies has slipped into administration.
The collapse comes just days after a manufacturer of healthcare equipment also went into administration, and also follows news that the Australian manufacturing industry has endured <a target="_blank" href="https://www.smartcompany.com.au/economy/052684-house-price-recovery-stalls-in-october-rp-data-figures-show-midday-roundup">several consecutive months of contraction</a>.
The company, which turned over $20 million in 2012, is now in the hands of SV Partners. The administrators were contacted this morning, but they were unavailable to speak.
The company was contacted this morning, but phone lines appeared to be disconnected.
Poolrite was founded by Peter Wolpert in the western suburbs of Sydney in 1978, and now claims to be one of the country's biggest manufacturers of pool and spa equipment.
The company has experienced some ownership changes in its 34 years – in 1999, the business was purchased by the Palmer Group and subsequently relocated its manufacturing base to Brisbane.
The business claims to have developed some of the industry's leading equipment, including pumps and cleaning equipment. The business developed MagnaPool, which is a patented mineral water system used as an alternative to salt and chlorine systems.
SV Partners is calling for expressions of interest for the business, saying it holds numerous patents and trademarks.
The collapse is yet another sign of the troubled manufacturing industry in Australia, which continues to suffer from the high Australian dollar.
More recently, businesses in the automotive sector have been under pressure, with a few major collapses having already occurred. Furniture companies have also been <a target="_blank" href="https://www.smartcompany.com.au/manufacturing/052707-car-parts-maker-closes-its-doors-with-400-jobs-at-risk-the-five-problems-crushing-the-industry">under a significant amount of stress</a>.
The <a target="_blank" href="https://www.smartcompany.com.au/manufacturing/051275-small-business-applauds-government-manufacturing-report-focus-on-smes">federal government recently released a report</a> into the manufacturing industry, although hasn't specified any measures that will be implemented in practice.
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Pool equipment manufacturer Poolrite collapses

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Yet another business in the construction industry has collapsed, in further confirmation the sector is struggling to get back on its feet even after a slew of positive data.
Building and finance approvals have been improving over the last several weeks, along with auction clearance rates, which have maintained consistent results above 60%.
Trade Fusion, a builder of modular homes based in Griffith, New South Wales, has collapsed into administration. Bruce Gleeson of Jones Partners has been appointed administrator to the company – he was unavailable to comment before publication.
The business itself was also contacted, but its phone line appeared to be disconnected.
Trade Fusion was founded in 2004 based on what the business thought was a need to combine manufacturing and trade components. The business specialises in the construction of modular homes.
In a description of the business available online, Trade Fusion says it has a staff of 20 including apprentices, and that it combines a traditional construction company alongside a factory that produces roof trusses and wall frames, along with glass and aluminium projects.
While there is no information available regarding the background of the collapse, being exposed to two troubled industries would no doubt introduce significant challenges. SmartCompany has <a target="_blank" href="https://www.smartcompany.com.au/construction-and-engineering/053080-construction-business-collapses-after-legal-brawl-with-aldi-supermarket-chain">reported extensively</a> on the pressures facing the manufacturing and construction industries – including several collapses.
Jones Partners is seeking expressions of interest for the company, with assets to be sold including intellectual property, land and buildings.
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NSW builder Trade Fusion in administration

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The Reserve Bank may have kept interest rates on hold at 3.25% yesterday, but economists are still expecting the central bank to adjust the official cash rate downward – borrowers and businesses just may have to wait until next year to see it happen.
The move has been criticised by business groups, especially retailers, which claim the RBA is letting down the economy by refusing to cut rates two months in a row. This is despite the fact the bank itself suggested the world economic outlook is improving.
AMP economist Shane Oliver said this morning the economic situation in Australia warrants a cut – and sooner rather than later.
"I think the case for cutting is really to bolster the economy," he says. "I think they're taking slightly more of a wait-and-see approach, but I'm confident that rates need to go lower for standard mortgage and small business rates."
Oliver says it's "definitely going to happen", and has pencilled in a December rate cut.
But others disagree. CommSec economist Craig James, who previously had expected the RBA to cut rates either this month or next, is now expecting a 25 basis cut early next year.
"Is this the final rate cut? Hopefully, yes – that would indicate a better global and domestic economic climate. But we aren't totally convinced, and are pencilling in the risk of a 25 basis point cut early in 2013."
"The seeds of an economic upturn have been planted, now we have to wait for green shoots to appear. But it all depends on the confidence levels of businesses and consumers."
The disappointment among businesses is curious – a rate cut from the RBA would reinforce the idea the economy is still struggling, even after signs of life have emerged among consumers.
As James points out, rate cuts may not be enough to help the economy, especially when consumers may need to be given some stability when it comes to interest rates. "Confidence and expectations will be all-important on whether further cuts are required," James said.
"The missing ingredient is confidence. Add in the fact that the Aussie dollar remains high, despite an easing in commodity prices, and the Reserve Bank may be forced to consider different strategies."
Commonwealth Bank economist Michael Blythe also said he expects the RBA to wait until after inflation readings are released in January.
This view hasn't taken hold among business groups, which have blasted the RBA for refusing to cut rates two months in a row.
The Australian Chamber of Commerce and Industry said in a statement the lack of a rate cut was a "disappointment", citing its own survey that shows SMEs are struggling.
"ACCI is firmly of the view that another rate cut is needed, given weakness in the mainstream economy and the flow-on impact of ongoing global uncertainty."
The Australian Retailers' Association took a darker view, with executive director Russell Zimmerman saying the industry could forget about a "bumper" Christmas.
"The decision will be disappointing to retailers at a time when good sales are essential to get through Christmas and given many retailers rely on the festive season and its lead up to make the bulk of their sales."
Zimmerman's harsh assessment comes after retail data showed department stores suffered their biggest quarterly fall in sales in seven years.
This article first appeared on Smart Company. 
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2013 RBA rate cut looms most likely

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Retail Adventures was finally placed in administration over the weekend, but the company will live on through a new entity by shedding unprofitable stores and operating under a licence from administrators.
The developments <a href="https://www.smartcompany.com.au/retail/052330-retail-adventures-in-dire-straits-as-suppliers-receive-ominous-email">follow weeks of rumours about store closures</a> and entrepreneur Jan Cameron's supposed plans to save the company.
Cameron was not successful. Just three years after buying the company for $85 million after an initial collapse, it was placed in the hands of Deloitte restructuring services over the weekend.
Last week, administrator Vaughan Strawbridge from Deloitte said a licence agreement is now in place between Retail Adventures and Discount Superstores Group to manage the Crazy Clark's and Sam's Warehouse stores.
Deloitte was contacted this morning regarding the restructure, but none of the administrators were available before publication to expand on their statement.
"The licence arrangement is designed to allow the Crazy Clark's and Sam's Warehouse stores to continue to trade under a new management structure," he said, adding this was necessary because Retail Adventures could not be restructured.
"We will immediately begin a detailed review of the financial position of the company and, as part of this, will review the performance of the 32 remaining Crazy Clark's, Go-Lo and Chickenfeed stores."
However, these stores are trading at "significant losses", Deloitte said.
There are plenty of questions left unanswered, such as what happens to the current creditors, and the structure in which Discount Superstores will be "licenced" from Deloitte.
What's clear is that hundreds of jobs are likely to go.
For three of the company's biggest mistakes, see page 2.
 
<hr class="system-pagebreak">
 
 
It's a disappointing outcome for Retail Adventures. But it's not surprising – the company and Jan Cameron have made significant mistakes along the way. Here's just three to be mindful of:
<h3>1. Paid too much for a troubled asset</h3>
Back in 2009 Jan Cameron handed over $85 million for Retail Adventures. The problem was that this was simply too much.
Of course, it's difficult to blame Cameron for paying that much before retail took a turn for the worst. But it was still a premium for a retail company, and at the time it wasn't as if the industry was at its peak.
The problems with Retail Adventures can be traced over the past three years, but paying $85 million for a collapsed retail group wasn't a great way to start.
<h3>2. Pursuing a discount strategy without understanding it</h3>
It would be hard to avoid discounting when your chain is built on the idea of low prices, but Cameron's mistake was in pursuing a discounted offer at a time when retail was already doing badly.
With margins squeezed thin, there wasn't any room to reduce them. Over the past three years, those margins have simply gotten thinner and thinner, with the company forced to offer even lower prices and make money through moving high volumes of stock.
That obviously hasn't worked, and it's a key sign Cameron didn't understand what she was getting into. Discounting is one thing, but pursuing a strategy of discounting during a period of low sales is disastrous.
<h3>3. Staffing problems</h3>
Jan Cameron made some bizarre claims over the weekend about her staff, saying not only that former Harris Scarfe chief Robert Atkins had a "vendetta" against her and claiming he was sacked for sexual harassment, but that other employees had problems as well.
"Some (staff) had a strange desire to run me out of money, thinking the company would get bought by the next sucker and they could continue on with their cruisy ways," she told The Australian.
Staffing problems will always drag a company down. An inability to complete a major review of all staff and then replace those necessary is a key factor in Retail Adventures' turmoil – and a trend that will be crucial to reverse if it is to survive.
 
This article originally appeared on <a target="_blank" href="https://www.smartcompany.com.au/index.php">SmartCompany.</a>
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Retail Adventures in administration with plans to close stores

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The auctions market has maintained its strength even though hundreds more listings were added over the weekend, with capitals besting clearance rates from a year ago.
While the spike in listings comes ahead of the Melbourne Cup Day weekend, Australian Property Monitors economist Andrew Wilson says another week with listings above 60% is a testament to the ongoing stability of the property sector – <a target="_blank" href="https://www.smartcompany.com.au/property/052463-modest-house-price-growth-will-underpin-housing-recovery-bis-shrapnel">and its eventual recovery</a>.
"The market was able to absorb a greater rate," he says.
"The higher number of listings is a trend that's been growing. This is the sixth consecutive week with auction clearance rates above 60%"
"You would have expected the market to moderate itself, but to get a result like that even with the high number of listings is an encouraging result."
Melbourne recorded 1,053 auctions over the weekend, with 690 selling and 363 passed in resulting in a clearance rate of 66%. That compares to 60% last weekend, and 50% during the same weekend last year.
REIV chief executive Enzo Raimondo said in a statement the result was "very healthy".
"A further sign of the improving sentiment is the increase in residential transaction volumes this spring, with around 9% more auctions being held than at the same time last year."
In Sydney, the city recorded a clearance rate of 67.9% from 524 listed auctions, compared with 61% last week and 54.9% during the same week last year.
It's an encouraging result for the market, which has already been tipped to continue rising over the next several months. Wilson says while there are some developments affecting each city – like a soft premium market in Sydney and failure of interest rate cuts to affect auctions in Melbourne – there is still hope.
"The market has built its own momentum, and there's a lot of activity happening."
This article originally appeared on <a target="_blank" href="https://www.smartcompany.com.au/index.php">SmartCompany</a>.
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Super Saturday records high property auction clearances despite surge in listings

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Mining-rich Western Australia is still dominating the rest of the country when it comes to state-by-state economic health, but Northern Territory is gaining ground quickly according to new research from CommSec.
The organisation's latest State of the States report has confirmed the ongoing trend – Western Australia is still on top in four of the eight criteria, and weaker states such as Tasmania have continued their ongoing struggle.
There are some changes appearing. The Northern Territory has passed the ACT to reach second, with its natural gas projects helping provide momentum, and New South Wales now ranks among Victoria and Queensland.
But overall, says CommSec chief economist Craig James, not much has changed.
"While there has been some modest reshuffling of other positions, in general there hasn't been much change over the past three months."
Western Australia has led on construction work, retail trade, population growth and equipment investment, with the only real weak point in dwelling starts, where it ranked seventh.
The Northern Territory ranked well in economic growth, jobs, and retail, coming second. The ACT ranked third with large growth in dwelling starts and population growth.
New South Wales moved from fifth to fourth along Victoria and Queensland, with relatively low unemployment helping out there. However, Victoria dropped due to higher unemployment, with Queensland also affected by weaker housing finance.
In terms of gross domestic product, the Northern Territory leads, followed by Western Australia and the ACT. But economic activity in Tasmania was up just 5.5% – the island state recorded a growth rate of negative 2.9%.
Western Australia retained its rank for retail trade – although James noted that if monthly retail trade data was assessed, the ACT and South Australia would swap ranks. The Northern Territory and Queensland ranked second and third, followed by Victoria.
Tasmania recorded the weakest result, up just 6.5% on the decade average.
The Northern Territory and Western Australia recorded the strongest job markets, with the former recording a jobless rate of just 3.9%. The weakest market was in Queensland, with the jobless rate at 6.1%, 19% above the decade average.
Housing finance, James said, was a "useful indicator of activity in the financial sector". Victoria had the strongest market, with housing finance commitments 2.4% below the decade average level, while in Western Australia, the number of commitments was 3% below the long-term average.
Tasmania recorded the weakest result with commitments 27% lower than the decade average.
Overall, James said the states have mostly retained their rankings, although Northern Territory has enjoyed some improvement due to the ongoing strength of its natural gas projects. Tasmania is still expected to be the weak point.
"The Tasmanian economy continues to struggle and there are few signs of improvement on the horizon. The economy must exploit the relative advantages of a cheap property market and attractive agricultural export and tourism opportunities."
This article first appeared on <a target="_blank" href="https://www.smartcompany.com.au/">SmartCompany</a>
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Tasmania must exploit the advantages of its cheap property market: CommSec

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The auctions market has continued to show signs of ongoing strength, with clearance rates remaining above 60% in the major capital cities.
The moves comes after several weeks of positive property data, including price rises recorded by RP Data, Rismark International and the Australian Bureau of Statistics. Clearance rates have also remained above 60% and are up compared to the same time last year.
Analysts also suggest another rate cut will help boost sentiment even further, following on from the Reserve Bank's decision to slash rates by 25 basis points earlier this month.
According to the Real Estate Institute of Victoria, Melbourne recorded a clearance rate of 62% compared to 60% last week and 53% this same time last year. But chief executive Enzo Raimondo said the main test for the market is yet to come.
"A significant test for the market will occur next weekend when around 1,200 auctions are expected, the highest number for a weekend since December in 2010."
SQM Research managing director Louis Christopher says it's a good sign – and says clearance rates could reach as high as the high 60s or even low 70s by February or March if conditions continue.
"We're really seeing that results are higher than at this time last year, and it's been happening for a large number of consecutive weeks."
"We could see auction clearance rates reach even higher next year, if conditions continue."
Sydney recorded a clearance rate of 56%, down from last week's rate of 60%, but up from last year's 52% result.
A report out today from BIS Shrapnel suggests housing market conditions in the capital cities will continue to improve, but that a small boom in prices wouldn't actually help long-term recovery.
This article first appeared on SmartCompany
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Weekend auctions show continued signs of strengthening

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The property market has delivered yet another weekend of solid results with clearance rates above 60%, adding to hope that a prolonged period of economic stability and interest rate cuts will continue to send prices higher.
The news follows the release of figures from RP Data that showed prices increased 1.2% in September, while the RBA cut interest rates two weeks ago – and is expected to do so again next month.
And in a big sign of confidence, a key indicator in the <a target="_blank" href="https://www.smartcompany.com.au/economy/052284-rate-cut-does-little-for-consumer-confidence-westpac-survey-reveals">Westpac consumer sentiment survey</a> found more people are optimistic about buying a house, even though overall consumer confidence is still mild.
According to the Real Estate Institute of Victoria, Melbourne recorded a clearance rate of 62%. Although that's down from last week's 62%, it still manages to beat last year's corresponding rate of 54%.
There were 578 auctions reported, and a further 690 are expected next weekend. And in Sydney, results were similar, with Sydney recording 58% on 606 auctions, compared to 60% last week and 55% last year.
Australian Property Monitors economist Andrew Wilson says the results are, once again, encouraging – but the industry isn't getting too hopeful too soon.
"Certainly, the market is building on some reasonable momentum," Wilson told SmartCompany this morning.
"But markets remain mixed, and consumer sentiment is still reasonably fragile. There is no doubt confidence is returning, and we're seeing higher listings, but I think it's still going to take time."
"At the very least, it's holding."
Wilson says the market doesn't need a jolt of confidence, but rather a steady rise in optimism which can only be achieved through stability in international financial markets, and possibly another interest rate cut next month.
"The Reserve Bank is certainly on watch with regard to the international economy and concerns over the strength of the resources boom. We're seeing those underlying drivers right now, but it will just take time."
"There's nothing to get too excited about just yet. But it's starting to build momentum."
This article originally appeared on <a target="_blank" href="https://www.smartcompany.com.au/index.php">SmartCompany</a>.
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Auction clearance rates up on last year

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Domestic retailers may be fighting back. New figures from the Commonwealth Bank show total online retail spending remains strong, but domestic retailers are getting a bigger slice of the pie – growth is up 40% compared to international retail at just 17%.
The figures show an increasing amount of competition coming from bricks-and-mortar retailers, which have invested <a href="https://www.smartcompany.com.au/entrepreneur-watch/retailers-gst-import-hopes-will-come-to-nothing" target="_blank">millions in their multichannel strategies</a>.
CommSec chief economist Craig James says the figures show purely online players don't have the advantage they once did.
"After a year of explosive growth in 2011, the pure play online retail sales growth is converging with total online sales growth."
"This may be an early sign that the international trend of traditional 'bricks and mortar' retailers dominating the online channel is playing out in Australia."
And with the debate over online GST still raging, the CBA points out imposing GST on purchases above $100 would hit 57% of online transactions, against the current 4%.
"While GST is only one factor in Australia's higher retail prices, imposing GST on a larger proportion of transactions would help even up an otherwise unfair playing field."
The analysis is based on two million transactions taking place on the Commonwealth Bank's own credit and debit network.
They show continued strong growth among online retail, which is up 30% in the year to July 2012 at a total of $14 billion. That represents 5.4% of total online sales, with clothing now the fastest growing category.
Traditional retail trade is growing at just over 3% a year.
And while the statistics mostly confirm what the business community already knows, James says there are some key points to be taken – including that strong growth in online is continuing, with 25% of CBA customers having purchased online in the past 12 months.
And those same people have lifted their transaction amount by 22% on average, resulting in an increase in online transaction volumes of 52%.
The figures also show domestic retail is catching up, taking 60% of sales, from 55% last year, "suggesting that Australian consumers are increasingly able to satisfy their online consumption needs from local retailers".
And while sales growth may be continuing, the introduction of new online customers isn't, the CBA says, with the market now reaching a saturation point.
"We estimate that almost 50% of online spending growth is now coming from existing customers shopping more frequently online. This compares to about 33% last year."
The statistics also reveal key demographics, with the majority of purchases made by those under 45 years of age. However, the growth in transaction frequency was similar across all age groups.
Overall, James says the figures are a warning for pure play online retailers that they cannot rely on being online as a point of difference.
But he also says these <a href="https://www.smartcompany.com.au/retail/051904-harvey-norman-s-katie-page-warns-of-offshore-exodus-over-gst" target="_blank">bricks and mortar retailers moving online</a>, such as Myer and David Jones, "have to work hard to deliver a credible online offer in the short term".
"The online retail channel remains a significant issue for Australia's retailers, but the latest trends suggest the local industry is finally adapting. This should be comforting for the many retailers who now have online as a strategic goal."
"The conservative nature of Aussie consumers and the ongoing shift to online spend will continue to hurt traditional retailers," he says.
"Domestic store retailers will need to continue discounting in the current climate in order to entice customers."
This article originally appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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Australian retailers securing more of online retail pie: CommBank

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Payless Shoes has become the latest corporate victim to succumb to poor consumer confidence, with the discount footwear chain with more than 220 locations now placed in voluntary administration.
The collapse of the business highlights turmoil not only in the fashion industry and footwear, which have suffered collapses and poor sales during the past year, but also the downturn in retail overall.
WHK principal David Gordon says while there are some categories of footwear that are doing extremely well, others in the discount space are struggling to make an impact.
"One of the other issues is that the stores are a bit old, and because of financial difficulties you haven't seen them put much money into the stores."
"They've just reached a point where problems continue to get worse and worse ... and it all catches up with you."
The move comes after two other significant retail chains, <a href="https://www.propertyobserver.com.au/retail/darrell-lea-s-27-retail-stores-to-close-as-chocolate-maker-sells-to-queensland-s-quinn-family/2012090356379" target="_blank">Darrell Lea</a> and <a href="https://www.smartcompany.com.au/finance/049900-game-retail-chain-to-shut-60-stores-281-jobs-lost" target="_blank">GAME</a>, were also placed in administration during the past few months. Both companies announced plans to close all stores.
The uncertain Payless Shoes will likely impact on retail landlords, <a target="_blank" href="https://www.propertyobserver.com.au/retail/retail-landlords-westfield-and-centro-hit-hardest-by-payless-administration/2012092456756">with Centro and Westfield the hardest hit.</a>
Insolvency group Jamieson Louttit &amp; Associates was called in last week, following the resignation of the managing director. Deloitte partners David Lombe and Vaughan Strawbridge were appointed as administrators on Friday.
Both were contacted this morning, but neither was available to comment before publication.
The company is one of the largest footwear businesses in the country, with 230 locations across the country.
Gordon says it isn't necessarily the footwear industry that's suffering, but rather the space of retail Payless Shoes had carved out for itself.
"There are certain categories in footwear that are doing quite well. Those include retailers that are catering for the older market who require more footcare, including people over 45 who need decent shoes, and they're not afraid to spend more."
"The others that are doing well are the fashion types, and that includes even the less expensive fashion stores."
Payless, Gordon says, operated in a "discount no man's land".
"The only real factor they have to offer is that they're offering shoes at a very good price. But if that's all you've got, people aren't going to spend."
Westfield recently reported footwear sales are down 1.8% for the 12 months to June 2012, and were down 2.3% in the second half of that same year. Given shoes can often be a discretionary purchase, many customers will opt to wait for longer than usual when deciding to purchase new shoes.
Payless Shoes faces stiff competition, not only from cheaper players like Kmart and Target, but also specialised retailers like Athlete's Foot – which has been one of the strongest-performing retailers in the past few years.
Gordon says the connection to the customer is simply lost.
"The message was, come to us and we'll give you cheap footwear. But people don't see that as a trigger to purchase shoes anymore."
This article originally appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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Payless trodden into voluntary administration by poor consumer confidence

An entity directed by HSN's Rafi Assouline and Rebel Property's Allen Linz has filed plans for an impressive new precinct in Woolloomooloo.

The major mixed-use development would transform a prominent William Street site into a new residential village anchored by affordable housing and a large public park.

The proposal, submitted as a State Significant Development Application, covers 164-172 and 174-194 William Street, a 6,398 sqm site between Forbes Street and Dowling Street on the southern edge of Woolloomooloo.

Designed by fjcstudio in collaboration with Bangawarra, Studio Bright and Tribe Studio Architects, the scheme would deliver 227 apartments across four residential buildings ranging in height up to 18 storeys, alongside retail space, public domain improvements and a new publicly accessible park.

<img alt="Rebel" data-entity-type="file" data-entity-uuid="0eb59b7c-914a-4a5c-b849-3a56749f5e93" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.18.51%E2%80%AFAM.png?VersionId=mxM6EEqeoLjrCiTlCzTKTvzpKuh6kSkH" />

It's another design scheme for Rebel, who took <a href="https://www.apartments.com.au/news/nsw/first-look-rebel-property-group-takes-woolloomooloo-precinct-to-nsw-government">concept plans to the NSW Gov late last year</a>.

The latest plans will be a mix of 167 build-to-sell apartments and 60 affordable apartments, with the affordable housing component representing 15 per cent of the project's gross floor area. The apartment mix includes 12 one-bedroom, 53 two-bedroom, 89 three-bedroom apartments and 13 penthouses, while the affordable housing component would comprise 42 one-bedroom and 18 two-bedroom apartments.

<img alt="Rebel" data-entity-type="file" data-entity-uuid="3b3d4553-8a8c-4af5-aa8c-519ffb1e28c6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.20.12%E2%80%AFAM.png?VersionId=_Yb6ibN7eDnOtQjCNDK2eviORa4qzgv." />

Rebel Property is seeking to take advantage of the NSW Government's infill affordable housing bonus provisions under the Housing SEPP, which provide additional floor space and height in exchange for the delivery of affordable housing for a minimum of 15 years. The planning pathway allows a 30 per cent increase in floor space ratio and building height where 15 per cent of the development is dedicated to affordable housing.

&nbsp;

At the centre of the development is a 1,356 sqm sunlit public park designed to become a new community gathering space at the gateway to Woolloomooloo. The park would be complemented by a network of pedestrian laneways connecting William Street with the surrounding streets, improving permeability through what is currently a largely impermeable block.

<img alt="Rebel" data-entity-type="file" data-entity-uuid="257af931-a393-4007-8c6d-7219796df58d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.20.51%E2%80%AFAM.png?VersionId=KAHy94GrhaReFsWTGDKfy39EDJ8gEEv4" />

The design team says the public domain has been heavily influenced by the site's topography and Aboriginal cultural heritage, drawing on the escarpments, gullies and landscape characteristics that historically defined the area before urbanisation. The landscape design has been developed in partnership with First Nations consultancy Bangawarra.

The project would be delivered across four separate buildings. The William Street East and William Street West buildings, designed by fjcstudio, would contain the majority of the apartments. Melbourne-based Studio Bright has designed the Forbes Street building, while Tribe Studio Architects is responsible for the Dowling Street building.

Rebel had secured approval for the concept plans late last year.

Joel Robinson

First look: HSN, Rebel, advances Woolloomooloo precinct plans

A locally heritage-listed furniture showroom on Water Street is set to become the centrepiece of a new mixed-use residential development as local developer&nbsp;<a href="https://www.apartments.com.au/developers/keylin-group">Keylin</a> seeks approval for <a href="https://www.apartments.com.au/new-apartments/lotus-on-water-street-290-water-street-fortitude-valley-qld-4006">Lotus on Water Street</a>, a 15-storey project on the Fortitude Valley side of Spring Hill.

The proposal spans 290 Water Street and 137-141 Warry Street, combining several properties into a 2,869 sqm site that sits between Fortitude Valley, Spring Hill and the rapidly evolving Victoria Park precinct. Keylin's plans would deliver 132 apartments alongside new retail, hospitality and commercial space, while retaining and repurposing the historic Brunswick Home Furnishers Showroom that fronts Water Street.

Designed by <a href="https://www.apartments.com.au/architects/jackson-teece">Jackson Teece</a>, Lotus on Water Street comprises a 12-storey residential tower rising above a three-storey podium and communal rooftop terrace. The development includes 76 apartments classified as multiple dwellings and a further 56 units proposed as short-term accommodation, designed to be flexibly used as either accommodation or permanent residences. The apartment mix comprises six one-bedroom, 54 two-bedroom and 16 three-bedroom homes.

<img alt="First look: Keylin unveils heritage-led Lotus on Water Street tower in Fortitude Valley" data-entity-type="file" data-entity-uuid="9822bb79-6c49-49c9-95ba-319e8c8d81c3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/fortitude%20valley%20front.png?VersionId=ioW8zbN4UVebbLetTFuv92t.HkdgfR5e" />

Residents would have access to an extensive rooftop recreation level spanning more than 1,200 sqm of communal open space. Plans include a pool, gym, sauna, infrared sauna, yoga area, library, private dining room, barbecue facilities and landscaped entertainment spaces, making the rooftop the project's largest shared amenity offering.

At street level, the proposal focuses on the adaptive reuse of the heritage buildings along Water Street, where 518 sqm of retail and commercial space is planned across shop, office and food and drink outlet uses. A permeable residential lobby would be positioned between the retained heritage buildings, creating a pedestrian connection between the historic streetscape and the new tower behind.

<img alt="First look: Keylin unveils heritage-led Lotus on Water Street tower in Fortitude Valley" data-entity-type="file" data-entity-uuid="269cf3e0-7d13-48bf-a318-05a00deb5c10" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/fortitude%20valley%20podium.png?VersionId=DLXmTCLsp6GOcLpQ0h.0z7wKCw59EhN_" />

The heritage retention strategy is central to the scheme. The development application notes that the Brunswick Home Furnishers Showroom and adjoining heritage buildings will remain, with only non-significant structures on the site earmarked for removal under a previously issued Heritage Exemption Certificate. Levels one and two of the new podium are recessed behind the heritage façades to maintain their prominence within the streetscape.

Jackson Teece has drawn inspiration from the site's manufacturing history when designing the podium. The planning documents state that the façade incorporates perforated metal screening that references the woven and rattan furniture historically produced on the site. Cascading and climbing plants are integrated throughout the podium to soften the building's presentation and screen parking levels behind. The landscape strategy also informs the project's name, Lotus on Water Street, drawing on the historic Spring Hollow waterholes that once ran through Spring Hill and the blue water lilies associated with Meeanjin, Brisbane's traditional name.

The proposal also incorporates the neighbouring property at 141 Warry Street, currently occupied by a healthcare service. The existing building would remain, with nine dedicated parking spaces allocated within the new development to support its ongoing operation. In total, Lotus on Water Street proposes 117 car spaces, including 110 resident spaces and seven visitor bays, alongside 100 bicycle spaces.

<img alt="First look: Keylin unveils heritage-led Lotus on Water Street tower in Fortitude Valley" data-entity-type="file" data-entity-uuid="70cf07bc-4fd8-4e70-92dd-be8b21c4e4f0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/fortitude%20valley%20site.png?VersionId=txlxrJImM0Sm_vTzHVKh5DDUkyL_CiiA" />

The site sits within the Spring Hill East Precinct of the Spring Hill Neighbourhood Plan and is positioned around 650 metres from both Fortitude Valley Station and Exhibition Station. It is also within walking distance of the King Street precinct, Royal Brisbane and Women's Hospital, Herston Quarter and Victoria Park, which is earmarked to become a major venue precinct ahead of the Brisbane 2032 Olympic and Paralympic Games.

Planning documents describe the location as a key gateway between Spring Hill and Fortitude Valley and highlight the area's increasing importance as new transport infrastructure and Olympic-related investment reshape Brisbane's inner north. The development team argues the project will contribute additional housing supply while activating a section of Water Street that has historically received less investment than other parts of the Valley.

Keylin has become increasingly active across Brisbane and southeast Queensland, assembling sites in strategic inner-city locations. They are currently selling and delivering <a href="https://www.apartments.com.au/new-apartments/oria-spring-hill-447-gregory-terrace-spring-hill-qld-4000">Oria Spring Hill</a>, just over 140 apartments due for completion in 2027.

Keylin plans heritage-led Lotus on Water Street apartment development in Fortitude Valley

Roseville is poised for a wave of new apartment development following the NSW Government's rezoning of land around Roseville Station under its Transport Oriented Development program.

The new planning controls have unlocked significant development potential within walking distance of the station, with a number of sites expected to be amalgamated and redeveloped in the coming years as developers seek to take advantage of the increased density allowances.

One of the more restrained developments in the precinct, and set among the first to be delivered having commenced well before the recent changes, is Hyecorp's Juliet. The boutique apartment project is already well under construction and remains on track to welcome residents by the end of the year, offering a markedly different proposition to many of the larger-scale developments now likely to emerge across the suburb.

[smartcode_project:default project_id=7395 project_image_fid=278194]

<a href="https://www.apartments.com.au/new-apartments/juliet-roseville-64-pacific-highway-roseville-nsw-2069">Juliet</a> will comprise just&nbsp;34 one-, two-, and three-bedroom apartments opposite Roseville Station. For Hyecorp, which has delivered projects across Sydney's Lower North Shore for more than three decades, Roseville presented a rare opportunity to address a growing gap in the market.

"<a href="https://www.apartments.com.au/developments/roseville-nsw-2069">Roseville</a> has long been one of the North Shore's most tightly held and desirable suburbs, offering a unique combination of village charm, established greenery, excellent transport connections, and proximity to some of Sydney's best schools and lifestyle amenities," Hyecorp said.

"We recognised a growing demand from local homeowners seeking to downsize without leaving the community they have built their lives around. The location presented a rare opportunity to create homes that cater specifically to that buyer profile."

[smartcode_project:default project_id=7395 project_image_fid=278196]

The six-level development has been designed by <a href="https://www.apartments.com.au/architects/pbd-architects">PBD Architects</a> as a collection of residences that feel more like homes than apartments. The brief centred generous floorplans, abundant natural light, quality finishes, and strong connections to outdoor space.

PBD Architects drew inspiration from Roseville's established garden suburb character, creating a building that sits comfortably within its surroundings rather than dominating them. The architecture incorporates natural materials, soft forms, layered landscaping, expansive balconies, and generous setbacks to strengthen the connection between residents and the suburb's leafy environment.

"The focus was on designing spacious, house-like residences for discerning owner-occupiers and downsizers who wanted to remain on the North Shore without compromising on comfort, privacy, or design," PBD said.&nbsp;

"Every apartment was to feel considered, timeless, and highly functional."

[smartcode_project:default project_id=7395 project_image_fid=278195]

Inside, residences feature engineered timber flooring, stone kitchen benchtops and splashbacks, integrated Fisher &amp; Paykel appliances, ducted air conditioning, and large outdoor entertaining areas designed to take advantage of district and treetop views.

Residents will also have access to a rooftop barbecue and lounge area, alongside practical amenities including parcel lockers, EV charging capability, bicycle storage, a dog wash bay, and a basement car wash facility.

The majority of purchasers so far have been local owner-occupiers from Roseville, Lindfield, Chatswood, Killara, and the broader Upper North Shore, many of whom are transitioning from larger family homes.

"Buyers are looking for spacious, house-like apartments that allow them to downsize without feeling like they are sacrificing comfort or functionality," Hyecorp noted.

"They value large kitchens, generous living areas, ample storage, quality finishes, secure parking, lift access, and low-maintenance living."

[smartcode_project:default project_id=7395 project_image_fid=278204]

Juliet sits directly opposite Roseville Train Station and within walking distance of Roseville Village, while Chatswood's retail and dining precinct is only minutes away. The development is also surrounded by some of Sydney's most established schools, including Roseville College, Ravenswood, Pymble Ladies' College, and Knox Grammar, as well as nearby parklands and golf courses.

Juliet is currently more than 75 per cent sold ahead of its anticipated completion in late 2026.

[smartcode_project_cta:default project_id=7395]

Juliet to sit quietly amid Roseville apartment boom

Sherpa Property Group has unveiled the third instalment of its Flourish series, securing full approval for the two-tower, $500 million Flourish Soleira development in Palm Beach.

<a href="https://www.apartments.com.au/new-apartments/flourish-soleira-1150-1154-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> will rise from a prominent site in the commercial heart of Palm Beach, the long-time home of Cash Converters and a range of local retailers.

The project will introduce a new retail and dining precinct at ground level, beneath 286 apartments.

[smartcode_project:default project_id=150017 project_image_fid=370959]

“We’re very committed to not only providing affordable residential offerings that are much needed in Palm Beach, but also delivering a vibrant new commercial heart that complements the extraordinary growth of the southern Gold Coast,” Sherpa Property Group founder Christie Leet said.

The development will sit under Sherpa's Flourish brand, which is aimed at providing a pathway into the beachside suburb for locals, first-home buyers and downsizers. In a move designed to assist first-home buyers entering the market, Sherpa has reserved all one and two-bedroom, one-bathroom apartments exclusively for eligible first-home buyers.

[smartcode_project:default project_id=150017 project_image_fid=370964]

“Our vision through Flourish is to create a vibrant retail and lifestyle focal point within the Palm Beach centre zone, delivering thriving communities underpinned by lifestyle-rich locations,” Leet said.

“So far, Flourish has been an incredible success, and we hope to carry this momentum as we progress the next two Flourish projects in Palm Beach.”

[smartcode_project:default project_id=150017 project_image_fid=371430]

Located across 1150-1164 Gold Coast Highway and 3 Sixth Avenue, the development will comprise two towers. The northern tower will deliver 154 apartments, while the southern tower will add a further 132 residences, helping address ongoing demand for new apartments in the tightly held coastal suburb.

Flourish Soleira will also feature the most extensive rooftop amenity offering ever delivered in Palm Beach.

The two towers will be connected by a skybridge, with residents gaining access to a rooftop recreation deck featuring a full-width swimming pool, hot and cold plunge pools, wellness spaces, a gymnasium, private dining facilities, massage treatment rooms, barbecue areas, a basketball court, golf simulator, indoor and outdoor dining spaces, sun lounges and extensive landscaping.

LPS Group is expected to start construction later this year.

Sherpa is already well advanced on construction of its debut Flourish project, Flourish Amargo, located just around the corner from Soleira. Meanwhile, Flourish Oasis, positioned opposite Amargo, recently commenced construction and has nearly sold out its collection of 47 apartments.

[smartcode_project_cta:default project_id=150017]

Sherpa unveils $500m mixed-use Palm Beach precinct, Flourish Soleira

Are mortgage holders set to get a reprieve from the RBA in 2026?

Big Four bank NAB believes so. They are now expecting the next move from the RBA to be a cut, rather than a hike, which they had pencilled in for August. They are unsure of the timing of the cut however, they note in their latest&nbsp;NAB Economics RBA Watch.

NAB Chief Economist, Dr Sally Auld, said recent data suggests the economy has lost momentum and the outlook for rates has shifted, noting that the broader economic backdrop has changed since earlier in the year.

“The next move in the cash rate is likely to be down, but the timing is uncertain," Dr Auld said.

"In February, growth was above trend, the economy was operating above capacity and there was uncertainty over the restrictiveness of rates. None of these conditions exist today,” she outlined.

Dr Auld said recent data pointed to softer momentum across the economy while acknowledging that at the same time, uncertainty remains a key feature of the outlook.

“Both Q1 GDP data and the NAB business survey suggest momentum in the economy has slowed, meaning that growth has likely peaked for the cycle. That said, we are cognisant there is still considerable uncertainty around the outlook, both with respect to activity and inflation.”

Dr Auld said inflation risks and labour market outcomes would be important to watch.

“On the prices side, we are still forecasting above target core inflation through to mid-2027. Margins will compress and weaker labour market outcomes are a risk.”

She said tighter financial conditions are expected to weigh on housing and activity.

“Tighter financial conditions will be reflected in a slowing in house price growth and housing credit growth. In summary, we have greater conviction that the next move in rates is down, but less conviction on the timing.”

Patrick Stafford

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