<html><body>
A survey from RateCity.com.au revealed that 42 per cent of Australians are more proactive about how they manage their money since COVID-19.
Young Australians felt especially money-conscious with 61 per cent of 18 to 34-year-olds saying they felt more proactive about managing their money following the pandemic.
The results support recent APRA and RBA findings that Australians are saving, not splurging during COVID-19.
APRA figures from earlier this year show Australians have an extra $64.41 billion more deposits in the bank compared to the start of COVID-19.
Many Australians have used their time in lockdown to clear credit card bills, refinance their home loans and build up a savings buffer, RateCity research director Sally Tindall said.
“For a lot of young Australians, their travel plans have gone up in smoke, their night life has been reigned in and, as a result, they’ve got spare cash to put towards their first car or home.”
RateCity’s tips to be more proactive include setting savings goals, checking rates and clearing high interest debts.
As reductions to JobSeeker and JobKeeper are set to squeeze millions of household budgets, people are advised to get their finances in order now.
“If that’s you, it’s worth talking to a financial counsellor to get your finances into the best shape possible as your income drops,” Tindall said. 
</body></html>

j.ballantyne1990-6AQqhLzZaK

Young Aussies are saving not splurging during COVID: RateCity

<html><body>
GUEST OBSERVATION
Conventional transport infrastructure planning has been based on wholesale commuting to and from the city centre. 
Long-term planning has delivered mass transit systems to cater for high-patronage, hub-and-spoke transport systems. Unfortunately, this has left many city residents <a href="https://www.infrastructureaustralia.gov.au/sites/default/files/2019-08/Australian%20Infrastructure%20Audit%202019%20-%205.%20Transport.pdf">without basic access to public transport services</a>. And we could never have planned for the impacts of COVID-19.
Our previous plans were based on the best available data at the time. Today, these plans must be critically reviewed using new data that properly represent the world and our transport needs as they are now.
 
Important facts to keep in mind
1: Fewer people commute to work.
The <a href="https://theconversation.com/coronavirus-could-spark-a-revolution-in-working-from-home-are-we-ready-133070">work-from-home transition</a> is well under way. Our current transport networks (except for <a href="https://covid19.apple.com/mobility">roads</a>, which have rebounded to traffic equal to or above pre-pandemic levels in some cities) are operating far below previous levels, even allowing for social distancing. This may not be the best time to break ground on major infrastructure projects planned under previous assumptions of population and demand growth.
2: Disadvantaged populations lack access to opportunities.
Public transport is key to enabling everyone in a population to be a productive member of society. Many disadvantaged groups cannot drive or afford car ownership. However, they also <a href="https://www.infrastructureaustralia.gov.au/publications/outer-urban-public-transport-improving-accessibility-lower-density-areas">lack access to public transport</a>, particularly in the outer suburbs.
Unfortunately, coronavirus impacts will <a href="https://theconversation.com/why-coronavirus-will-deepen-the-inequality-of-our-suburbs-143432">hit the disadvantaged the hardest</a>. If we want everyone to be able to participate in the economic recovery, we need to promote basic levels of access regardless of an individual’s circumstance.
 
3: Population growth will not meet projections.
Migration bans will greatly reduce short-term growth. Current projections show a population <a href="https://theconversation.com/1-4-million-less-than-projected-how-coronavirus-could-hit-australias-population-in-the-next-20-years-143544">up to 4% smaller in 2040</a> than it would have been in a non-COVID world. This will further decrease demand for urban transit services as well as demand across many sectors of our society. These trends are important because much of our planning is based around these population growth metrics.
However, our suburbs still lack basic public transport services. If we want to increase patronage, we need to bring services to more people by improving coverage of our <a href="https://theconversation.com/no-need-to-give-up-on-crowded-cities-we-can-make-density-so-much-better-131304">sprawling, low-density cities</a>.
<a href="https://www.infrastructureaustralia.gov.au/publications/outer-urban-public-transport-improving-accessibility-lower-density-areas">Over 80% of the population</a> of our biggest cities live in the outer and middle suburbs, yet this massive majority have limited to no basic public transport service. Across our five largest cities, Infrastructure Australia <a href="https://www.infrastructureaustralia.gov.au/publications/outer-urban-public-transport-improving-accessibility-lower-density-areas">reports</a>, “public transport disadvantage in outer suburbs is significant”.
<img src="https://images.theconversation.com/files/353993/original/file-20200821-18-1ctpvl6.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="Populations living in inner, middle and outer suburbs of Sydney, Melbourne, Brisbane, Perth and Adelaide"> Estimated resident population by suburban classification, as count and proportion of city population. <a class="source" href="https://www.infrastructureaustralia.gov.au/publications/outer-urban-public-transport-improving-accessibility-lower-density-areas">Infrastructure Australia: Outer Urban Public Transport: Improving accessibility in lower-density areas</a>
Households’ <a href="https://theconversation.com/rapid-growth-is-widening-melbournes-social-and-economic-divide-117244">access to jobs and services gets much worse</a> with increasing distance from the city centre. Development of suburban and regional <a href="https://theconversation.com/for-mobility-as-a-service-maas-to-solve-our-transport-woes-some-things-need-to-change-105119">mobility-as-a-service (MaaS) offerings</a> could promote better access in these “harder to serve” areas.
Moving the country forward
Job creation will be an important aspect of economic recovery. Yet too often we look to large construction projects as the answer. There is plenty of other job-creating work to be done in our communities.
We could, for example, increase the <a href="https://theconversation.com/cycling-and-walking-can-help-drive-australias-recovery-but-not-with-less-than-2-of-transport-budgets-142176">miserly funding</a> for our piecemeal walking and cycling networks.
We could also <a href="https://theconversation.com/1-million-rides-and-counting-on-demand-services-bring-public-transport-to-the-suburbs-132355">expand on-demand services</a> to suburban and rural residents who lack basic public transport access. On-demand transit does not follow fixed routes or timetables. Riders book a trip for a cost similar to a bus fare.
<img src="https://images.theconversation.com/files/362371/original/file-20201008-14-1j0ilu4.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="Passenger waiting to board a Bridj on-demand bus service."> Bridj is one of the operators that is expanding on-demand services in Sydney and other cities. <a class="source" href="https://www.facebook.com/TakeBridj/photos/a.1412498639012150/2080642258864448/">Bridj Transit Systems/Facebook</a>
These options will <a href="https://theconversation.com/do-the-sums-bicycle-friendly-changes-are-good-business-58213">encourage local spending to support small businesses</a>. These are an important piece of our social fabric and improve <a href="https://theconversation.com/coronavirus-reminds-us-how-liveable-neighbourhoods-matter-for-our-well-being-135806">livability in our communities</a>.
We need to look locally
A focus on localised investment in the many neglected communities across the country will deliver major benefits. Money already committed to large projects that are under way represents sunk costs that may be too deep to renegotiate. However, future plans using public funds must be re-examined.
Investments should target disadvantaged groups and broaden access to transport networks, encouraging new potential users. For many, assistance in gaining access to the necessities of life will be invaluable during the coming economic recovery. Guaranteed access to groceries, medical services, work opportunities and <a href="https://theconversation.com/parks-and-green-spaces-are-important-for-our-mental-health-but-we-need-to-make-sure-that-everyone-can-benefit-142322">recreational activities</a> must not be reserved for the elite.
We need better localised public transport and we need it for the majority of citizens, not just those who live in the inner suburbs of our capital cities. Most regional populations lack even rudimentary public transport coverage at reasonable frequency.
Increasing services in these areas will create valuable jobs that will stick around, unlike large one-off construction projects. The money will stay local, going into the pockets of operators who live and work in their own community.
While our long-term planning is not to blame for our current situation, we need to develop for the future, not the past. The <a href="https://theconversation.com/westconnex-audit-offers-another-17b-lesson-in-how-not-to-fund-infrastructure-73206">financial costs</a> of building and maintaining our current infrastructure are not going away. However, we can no longer refuse to invest in many of our underserved communities.
It is time to ensure everyone, regardless of their income or where they grow up, has the basic services they need to be a productive member of society.<img src="https://counter.theconversation.com/content/144802/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
<a href="https://theconversation.com/profiles/benjamin-kaufman-611843">Benjamin Kaufman</a>, PhD Candidate, Cities Research Institute, <a href="https://theconversation.com/institutions/griffith-university-828">Griffith University</a>
This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/covid-impacts-demand-a-change-of-plan-funding-a-shift-from-commuting-to-living-locally-144802">original article</a>.
</body></html>

COVID impacts demand a change of plan: funding a shift from commuting to living locally

<html><body>
Geelong has managed not to enter into the new restrictions currently being enforced across Melbourne which has required all hospitality to once again shut up shop and everyone to stay at home unless they’re heading to an essential service, according to the August Herron Todd White (HTW) residential report. 
The valuation firm presented an 'investor playbook' of real estate performance within each service area.
<div class="page" title="Page 37">
<div class="section">
<div class="layoutArea">
<div class="column">
It’s unknown whether or not Geelong will also have to re-introduce these restrictions as Victorian cases soar higher by the hundreds every day, the report notes. 
"Once again, the level of uncertainty we are currently facing is extremely high and it has caused many to take a more conservative approach to the property market over the past few months, holding off on making any investment purchase," the valuation firm said. 
On a positive note, as Geelong has not slipped back into harsher COVID-19 restrictions, the economy continues to rebuild and this can only rub off positively on the property market. 
After months of waiting, many may now launch into that investment purchase they have been holding off on from prior months.
Geelong remains a seriously sought-after region as it continues to expand in just about every facet with affordability compared to Melbourne being the number one driving force. 
"You can most definitely get much more bang for your buck sifting through Geelong’s property market compared to Melbourne’s and this is highly attractive to many possible investors such as first home buyers or those looking to upgrade or upsize their current home. 
"It’s a very active region for all types of investors and for good reason," the valuation firm said. 
A renovated four bedroom house in Belmont has recently been sold for $912,500. 
The home at<a href="https://www.realestate.com.au/sold/property-house-vic-belmont-134284594" target="_blank"> 8 Downshire Road</a> (pictured below) comprises four bedrooms, two living zones and self contained bungalow. 
The property was last sold for $470,000 in 2013. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/9/28/belmont.jpg" alt="">
 
A current listing a Geelong two bedroom apartment with views across Corio Bay. 
The north-facing apartment at <a href="https://www.realestate.com.au/property-apartment-vic-geelong-133509942" target="_blank">1402/18 Cavendish Street </a>(pictured below) has been listed with $829,900 hopes. 
It comes with living room with double glazed windows, kitchen with dishwasher and single car space plus lockable storage area.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/9/28/geelong%201.jpg" alt="">
</div>
</div>
</div>
</div>
</body></html>

Geelong remains sought-after among investors: HTW residential 

<html><body><div class="page" title="Page 48">
<div class="section">
<div class="layoutArea">
<div class="column">
The investor market in Mount Gambier is currently strong with a mix of both local and out of town investors, according to the August Herron Todd White (HTW) residential report. 
The valuation firm took a look at investor markets across the nation. 
The report suggests properties in Mount Gambier are generally cheaper compared to say Adelaide or Melbourne. Paired with low interest rates and returns of approximately six to seven per cent, there is a much better return for property.
"After speaking with local agents, it is clear that the market in Mount Gambier has not slowed due to the effects of Coronavirus and while it was expected that rental prices would drop due to the increasing supply of short term rentals being listed as long term rentals, this has not deterred investors," the valuation firm said. 
Houses have been hitting the market and some are receiving offers within 48 hours, often at the asking price or higher, with many going to the highest and best offer.
Investors are generally after houses that present well and are low maintenance, within the price range of $200,000 to $350,000. The return for anything above this will likely not be as strong, the report noted. 
<div class="page" title="Page 49">
<div class="section">
<div class="layoutArea">
<div class="column">
<div class="page" title="Page 49">
<div class="section">
<div class="layoutArea">
<div class="column">
The government’s incentive to build has definitely spurred the market, with over 20 land sales in the popular Springview Drive division within the past couple of weeks, however this hasn’t been a huge benefit to investors as they cannot simply build and rent these houses out straight away on completion of the build.
"Within the Mount Gambier region, typical investors tend to invest in a mixture of units and detached houses, which are likely to be in the $150,000 to $250,000 price range.
"For depreciation benefits they also invest in new houses, ranging from $250,000 to $350,000," the valuation firm said. 
A division popular with investors in Mount Gambier is the O’Leary Road division . An example of a recent sale within the division is below. 
<a href="https://www.realestate.com.au/sold/property-house-sa-mount+gambier-133040070" target="_blank">3/20 O'Leary Road</a> (pictured below) is a small three-bedroom, one-bathroom dwelling with a single garage under the main roof, on an allotment of approximately 450 square metres. This property previously achieved a rental of $340 per week or a gross yield of 6.8 per cent.
 <img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/9/7/mount%20gambier%201.jpg" alt="">
<div class="page" title="Page 49">
<div class="section">
<div class="layoutArea">
<div class="column">
<div class="page" title="Page 49">
<div class="section">
<div class="layoutArea">
<div class="column">
In recent years the South Australian Housing Trust has also been selling off their unwanted Commission housing.
 Typically these are older stone dwellings constructed in the 1950s and 1960s offering three bedrooms, lounge, bathroom and laundry area. These Commission homes are typically good value and show a good return.
A semi-detached three-bedroom duplex at <a href="https://www.realestate.com.au/sold/property-house-sa-mount+gambier-132470002" target="_blank">13 Schinkel Street </a>(pictured below) can be purchased for $100,000 to $130,000, with an achievable rental for these dwellings being around $190 to $200 per week.
This provides a gross yield of approximately ten per cent. The capital growth would not necessarily be good, and the quality of tenant may also be an issue, but the return is pretty competitive.
The property below sold for $109,000 and achieves a rental of $195 per week. This is a yield of 9.3 per cent.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/9/7/mount%20gambier%203.jpg" alt="">
<div class="page" title="Page 49">
<div class="section">
<div class="layoutArea">
<div class="column">
"It is expected that the investment market will remain strong within Mount Gambier for quite some time. 
"With low interest rates, it is more beneficial for an investor to invest in property and achieve a good return for good value, rather than keep their money in the bank." 
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div></body></html>

Mount Gambier investor market remains strong: HTW residential 

<html><body>
Jinding Developments have commenced construction on a new master-planned community in Armstrong Creek, in partnership with Yolk Property Group and landowners, the Harkness family.
Its pricing starts from just $180,000 and maxes out at $314,000, with sizing between 221sqm to over 550sqm.  
According to Jinding’s Liz Ronson, Harriott’s urban design, fantastic amenities and natural environment have been proven by the community’s strong sales.
The announcement follows the start of the City of Greater Geelong’s $4 million upgrade works on the wetlands.
The project, <a href="/new-townhouses/harriott-townhomes-armstrong-creek">Harriott at Armstrong Creek</a>, will deliver a sustainable community nestled next to Sparrovale Wetlands, located 10 kilometres from Geelong.
The first 81 blocks of the 659-lot community are expected to be delivered by mid 2021.
It aims to cater to <a href="/news/new-housing-development-aims-to-cater-to-significant-population-growth-anticipated-for-geelong">significant population growth</a> anticipated for Geelong.
The community’s future offerings will include 140ha of open space, central parklands and regional sporting facilities.
</body></html>

Construction begins on master-planned community in Geelong's Armstrong Creek

<html><body>
A $320 million commercial project Parramatta, 32 Smith Street, ‘topped out’ by Fender Katsalidis and the GPT Group.
The 25-storey office building, which will see QBE become the anchor tenant, is set to become one of the most sustainable commercial office towers in the Parramatta CBD.
Fender Katsalidis director Mark Curzon said the construction milestone of the 26,500sqm sculptural tower, <a href="/news/32-smith-streets-construction-continues-the-rise-of-parramatta?utm_source=PropertyObserver%20" target="_blank">which commenced last year</a>, was a significant step.
“This is an important gateway building for the emerging city and new civic space, delivering a world-class, cutting-edge, workplace environment, through its urban, sustainability and design philosophy-based solutions," Mr Curzon added.
The tower includes landscaped extern roof terraces, balconies throughout and a publicly accessible urban room.
32 Smith Street is on track for completion in late-2020.
Fender Katsalidis is well known for their design of the Australia 108 tower, which pays homage to the Australian flag with a rotated golden structure protruding from the building.
Other projects designed by the team include Royal Fund’s <a href="/new-apartments/camberwell-house-699-burke-road-camberwell">residential project Bijou </a>in Victoria’s Camberwell and <a href="/buildings/derby-place-369-high-street-kew?utm_source=PropertyObserver" target="_blank">Crema Group’s Derby Place</a> in Kew.
The topping out at 32 Smith Street follows the architects’ recent appointment to design the $2.5 billion Central Place Sydney project.
</body></html>

$320 million Parramatta commercial tower tops out

<html><body>
Rugby league star Ryan James is selling his Gold Coast investment property ahead of his move to Canberra for the 2021 season.
The Gold Coast Titans captain bought the property just over a year and a half ago and planned to keep it as an investment but has since decided to sell.
He says his upcoming move to Canberra to play with the Raiders is one of the reasons for selling, the other being the strong Gold Coast market.
The property includes three units, two upstairs with two bedrooms and one downstairs with four, listing agent Kasey Pereira from Real Specialists says.
He noted that it has also been completely renovated.
The property is listed with an asking range of $1.25 million to $1.35 million.
Mr Pereira said it will likely attract investors looking for a strong rental return of roughly $1500 a week.
James says he completely transformed the property, with the largest changes he made located iny the downstairs unit where he added two extra bedrooms, plus a brand new kitchen and living room.
He says he has no plans to sell his home on the Gold Coast.
</body></html>

Titans captain Ryan James lists Gold Coast investment property

<html><body>
Lendlease, with backing from Aware Super, has plans for a $1 billion build-to-rent project in New York's Brooklyn.
Lendlease paid $US100 million ($138 million) for its 90 per cent stake in the development project.
It will be about 800 apartments, some 30 percent earmarked for affordable housing under a New York City program.
The property, 1 Java Street, spans a full city block on the Greenpoint waterfront along the East River.
Sold by David Zalaznick’s JZ Capital Partners, it ranks as one of the biggest land purchases in New York City during the pandemic.
The ASX listed global player had signalled it would significantly ramp up its real estate development activities around the world.
It already has major urbanisation projects across the US, including a build-to-rent development also backed by Aware Super in Chicago.
There is also a plan for housing development on Google-held land in Silicon Valley.
It takes its US development pipeline to over $30 billion of current and future projects, Denis Hickey, chief executive for Lendlease’s Americas business advised.
<div class="in-content-ad">
Aware is the rebadged Australian super fund, First State Super.
Lendlease takes control of the Java Street site from London-listed investment house JZ Capital Partners and development vehicle RedSky, which will retain 10 per cent.
 
</div>
</body></html>

Lendlease plans $1 billion Brooklyn, New York build-to-rent project

<html><body>
The NSW Productivity Commission has been called out to stop using planning as a scapegoat for failures in the housing markets.
Planning Institute Australia called out the Commission, asking them to work on better understanding the value provided by the planning profession.
In a submission to the commission’s green paper, PIA urged the Commission to reconsider its portrayal of planning systems and address the benefits of strategic planning processes.
Functioning cities require a functioning planning system, said PIA NSW president Juliet Grant.
“PIA supports sensible planning reform, but the planning profession should not be used as a scapegoat for failures of our economy to deliver on the promise of housing affordability”, she said.
The institute accused the green paper of developing a false narrative which blamed planning processes for high house prices.
“PIA members know that planning contributes to the economic strength of our state by making sure people live close to jobs and services,” Grant noted.
In their submission, PIA highlighted planning’s delivery of a strong housing supply pipeline through consistently high rates of project approvals.
</body></html>

NSW Productivity Commission called out by Planning Institute Australia

<html><body>
Fawkner House, a collection of nine large-scale dwellings created in Melbourne’s South Yarra, has listed its limited remaining residences.
Located in the Domain precinct, <a href="/news/beulah-international-hits-the-hyper-luxury-heights-in-kew" target="_blank">Fawkner House</a> is nestled between Walsh and Marne Streets at 146 Toorak Road West.
The home offerings were designed by architect Rob Mills, offering progressive design, large-scale residences and penthouses and commanding views over Fawkner Park.
“It's the height of the land, and with that comes light, space, better quality of air, opportunity for phenomenal views. It’s all those wonderful ingredients that makes something special”, Mills said.
Developed by <a href="/developers/beulah">Beulah</a>, the home takes inspiration from Le Corbusier’s 1954 chapel Notre Dame du Haut in Ronchamp, France.
The remaining three and four-bedroom residences are listed with prices starting from $5.49 million.
The top-level of the residence is split between two grand penthouses, while the basement includes private garages for each residence.
Its other offerings include curved wall features, natural stone and custom oak joinery.
Construction for the project remains on track for completion in early 2021.
Other projects in the pipeline from the developer includes <a href="/news/beulah-international-submits-planning-application-for-southbank-by-beulah?utm_source=PropertyObserver%20" target="_blank">Southbank by Beulah</a>, which is set to become Australia’s tallest tower.
The Victorian Government gave the green light to the $2 billion project in March 2020, which will feature two twisting terraces called the ‘green spine’.
</body></html>

South Yarra's Fawkner House lists remaining trophy homes

&nbsp;

Developer GURNER™ Group has revealed $1.65 billion in residential sales nationally across the 12 months to December 2025, driven largely by the continued momentum of its Docklands wellness-focused precinct, Elysium Fields.

The sales result was generated across seven projects in Victoria and New South Wales, headlined by Elysium Fields, GURNER™’s $2.75 billion mixed-use precinct planned for Harbour Esplanade in Docklands.

The project has recorded more than $500 million in sales across the first three towers, equating to around 580 apartments sold.

The first tower, Helios, has now sold out of its 240 private residences, with GURNER™ preparing to release a premium penthouse collection comprising 15 three-bedroom penthouses in coming weeks.

[smartcode_project:default project_id=144441 project_image_fid=370975]

Elysium Fields is being developed on the long-held 20,000 sqm Docklands site at 208-226 Harbour Esplanade, which had remained undeveloped for more than two decades prior to GURNER™ taking over the project around four years ago.

Construction has now commenced across four towers ranging between 18 and 30 storeys, with Hamilton Marino and Maxcon appointed as builders.

Once complete, the precinct is expected to comprise around 1,100 residences, alongside retail, hospitality and public realm uses integrated throughout the site.

[smartcode_project:default project_id=144441 project_image_fid=370981]

Designed by Fraser &amp; Partners in collaboration with GURNER™ Design House, the project has been positioned around the developer’s broader focus on wellness-led residential living.

“We don’t sell apartments. We create a true luxury lifestyle that simply doesn’t exist elsewhere in the market today,” Founder and Executive Chairman Tim Gurner said.

“To deliver that requires an extraordinary level of detail, coordination and discipline across multiple verticals, from design and hospitality through to wellness and service.”

“We’ve always believed that living extends far beyond the physical residence. It’s about how you feel the moment you arrive, how you live day-to-day, and the ecosystem that supports that.” 
[smartcode_project:default project_id=144441 project_image_fid=370977]

The project’s design places a heavy focus on landscaping, wellness amenities and biophilic design principles.

Plans include around 3,700 sqm of landscaped gardens and open space throughout the precinct, alongside a retail and dining offering spanning approximately 5,000 sqm.

The broader public realm strategy centres around what GURNER™ describes as the “Path of Life”, an urban forest and landscaped pedestrian environment intended to connect the various buildings and wellness spaces across the precinct.

The apartments themselves will incorporate a range of wellness-focused inclusions, including purified air and water systems, circadian lighting, antimicrobial surfaces, and optional in-home wellness upgrades.

[smartcode_project:default project_id=144441 project_image_fid=370980]

Gurner said the company’s experience through its Saint Haven wellness clubs had directly informed the residential offering now being incorporated into Elysium Fields.

“We’re seeing a clear global shift toward longevity, performance and proactive health,” Gurner said.

“Our role is to deliver that in a way that feels seamless, highly private and beautifully resolved within the environments we create.”

A large component of the wellness offering is planned through the resident amenity and health facilities proposed within the precinct.

That includes plans for bathing and recovery facilities spread throughout the towers, incorporating mineral pools, saunas, steam rooms, flotation therapy, red light therapy and wellness lounges.

The developer is also seeking approvals for what it describes as a “reverse ageing medical clinic” within the precinct.

[smartcode_project:default project_id=144441 project_image_fid=370978]

According to project information released by the group, the proposed facility would include cryotherapy, IV infusion therapy, infrared and dry saunas, PEMF beds, MRIs, DEXA scans, brain scans and blood analysis services.

Within the first tower, Helios, residents will also have access to a dedicated amenity offering known as the Sky Private Club.

The upper 15 levels of the building will include private lounges, dining spaces, rooftop amenities and optional private wellness studios integrated within residences.

The Helios tower itself comprises 260 apartments ranging between 60 sqm and 300 sqm, including a collection of penthouses.

That includes a planned two-storey penthouse spanning around 600 sqm with uninterrupted bay views.

The Elysium Fields precinct is being delivered in partnership with Digital Harbour Holdings, a consortium that includes the Liberman family, which controls the development rights across the Docklands site.

[smartcode_project:default project_id=144441 project_image_fid=370979]

The sales result comes as GURNER™ continues expanding its national development pipeline beyond Victoria.

“We have a strong pipeline across Australia and are now focused on scaling into key markets including New South Wales and Queensland, while continuing to build on our Melbourne base,” Gurner said.

“We currently have more than $3 billion in the market, growing to over $5 billion by October, and expect to materially outperform last year in the 2026 calendar year.”

The result also reflects the continued strength of the upper-end apartment market in Melbourne, particularly for owner-occupier-focused product with large-scale amenity and lifestyle offerings.

[smartcode_project_cta:default project_id=144441]

Record result anchored by the Group’s “utopian” Elysium Fields precinct – defying market headwinds in Docklands.

Joel Robinson

Elysium Fields drive Gurner to $1.65 billion in apartment sales over 2025

National Australia Bank (NAB) will fund <a href="https://www.apartments.com.au/new-apartments/palmera-residences-gold-coast-18-garfield-terrace-surfers-paradise-qld-4217">Palmera</a>, a $1 billion, 52-level luxury residential tower being developed by Central Equity in one of the Gold Coast’s most tightly held coastal locations at Northcliffe.

The project, launched recently by <a href="https://www.apartments.com.au/developers/central-equity">Central Equity</a>, one of Victoria’s largest private residential developers, comes at a time when construction funding for large residential developments has become increasingly competitive as lenders tighten exposure to the sector.

Multiplex has been appointed the builder, and construction is now underway.

[smartcode_project:default project_id=108274 project_image_fid=365784]

Since its first project, Central Equity has delivered more than 85 residential developments with a combined end value exceeding $8 billion.

Palmera reflects Central Equity’s growing focus on the Gold Coast luxury apartment market and continues a relationship between Central Equity and NAB that dates back to the late 1980s, when the bank funded one of Melbourne’s earliest inner-city residential towers at a time when high-rise apartment living in the CBD was largely unproven.

“NAB’s funding of Central Equity’s $36 million CBD development in the late 1980’s to the financing of the billion-dollar tower today highlights the long-term relationship between the two organisations in delivering major residential projects” said Central Equity Founder and Chairman Eddie Kutner.

He said NAB’s early support was instrumental in helping establish the company’s development model.

“When we commenced our first residential tower in the late 1980s the concept of funding off-the-plan apartments was still largely untested in Australia,” Kutner said.

“NAB recognised the opportunity early and supported the project when others were uncertain. That relationship has now continued for more than 37 years across many developments.”

[smartcode_project:default project_id=108274 project_image_fid=365771]

Central Equity was established in 1987 when Melbourne’s CBD and Southbank precinct were still dominated by warehouses and commercial buildings. Fewer than 100 residents lived in Southbank at the time, and large-scale residential development in the inner city was not widely considered.

Recognising changing demographics and lifestyle preferences, the company began developing high-rise residential projects designed to bring permanent residents into the city centre.

Central Equity has provided accommodation for approximately 40,000 residents across Melbourne’s CBD and Southbank, while also incorporating supporting infrastructure including essential lifestyle facilities like retail spaces, childcare facilities and neighbourhood activity centres.

Central Equity has spent many years assembling the Palmera development site on the corner of Garfield Terrace and Frederick Street in Northcliffe, creating a supersite of around 3,300 sqm.

The developer said the Palmera apartment tower reflects its long-term view of the Gold Coast as a growing and increasingly diversified economy.

[smartcode_project:default project_id=108274 project_image_fid=365768]

Supported by infrastructure including the light rail network, major road upgrades expanded education, hospital and medical facilities and continued expansion at the Gold Coast Airport with more internation and domestic flights.

Positioned in the tightly held Northcliffe precinct, the 52-level tower will deliver 347 apartments, targeting buyers seeking a high-end coastal lifestyle, from downsizers to interstate investors.

Designed by Marchese Partners with interiors by DBI, Palmera has been conceived as a next-generation residential offering, featuring a collection of oversized apartments, with premium three-bedroom residences offering sweeping northern views stretching from Surfers Paradise through to Burleigh Heads.

[smartcode_project_cta:default project_id=108274]

NAB funds $1 billion Surfers Paradise apartment development, Palmera

Two years after completing one of the newest developments in North Sydney, developer <a href="https://www.apartments.com.au/developers/aqualand-australia">Aqualand</a> is turning its attention to the rapidly evolving St Leonards apartment market.

The developer, which completed AURA by Aqualand on North Sydney's Walker Street, has lodged plans for a 5,918 sqm site at <a href="https://www.apartments.com.au/new-apartments/33-37-herbert-street-st-leonards-nsw-2065">33-37 Herbert Street, St Leonards,</a> seeking approval for a pair of residential towers rising above a shared podium opposite Royal North Shore Hospital.

The proposal forms part of the broader transformation underway across the St Leonards-Crows Nest precinct, where former industrial and commercial sites are increasingly being redeveloped into high-density mixed-use projects tied to major transport infrastructure.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="2cc428cf-fe70-4cac-9cd5-264ad53af62c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.56%E2%80%AFAM.png?VersionId=otKSnHtbjAvAddOnovyXQMgcAwE6DMe1" />

According to the planning documents, the site sits “within the St Leonards–Crows Nest Strategic Centre, identified by the NSW Government as a key area for accommodating future jobs and housing across Sydney.”

The proposal has been designed by fjcstudio, formerly FJMT Studio, and is being progressed through the State Significant Development pathway due to its scale and affordable housing provision.

The scheme would comprise 413 apartments, including 46 affordable housing units, alongside retail and commercial uses fronting Herbert Street. The project would also include communal open space, landscaping, a swimming pool, gymnasium, children’s play areas and podium-level resident amenities.

Planning documents show the development would consist of a part-13, part-39 storey tower form positioned above a four-storey podium.

“The development comprises a unified podium that activates the street interface, and two setback towers to accommodate new housing supply while maintaining an appropriate human scale at ground level,” fjcstudio noted in its Design Report.

The northern and southern towers have been shaped to respond to the surrounding skyline while also limiting overshadowing impacts to nearby public open space, particularly Talus Reserve.

The design report said the differing tower heights were intended to “contribute to a varied skyline while responding to the surrounding built form context and solar access considerations.”

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="36da62dc-ff9e-41f2-a7e3-7be38373751c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.45%E2%80%AFAM_0.png?VersionId=Mo6Rp2r.XRLTzIfg_PEEpw8NepDH8UBs" />

The site sits directly opposite Royal North Shore Hospital and within walking distance of both St Leonards Station and the new Crows Nest Metro station.

While the site itself sits just outside the formal Crows Nest Transport Oriented Development boundary, the planning documents repeatedly reference its alignment with the broader TOD objectives reshaping the Lower North Shore.

“The site is located adjacent to St Leonards Station and in close proximity to Crows Nest Metro which is within the Crows Nest Transit Orientated Development Accelerated Precinct which has been identified by the NSW Government to support housing delivery,” the Design Verification Statement noted.

According to fjcstudio, the project has been designed to respond to the broader transition occurring across St Leonards, where increasing residential density is being concentrated around transport infrastructure and employment hubs.

“The broader precinct is undergoing significant change, with a mix of existing mid-rise buildings and newer high-density developments,” the report stated.

“Recent and approved projects indicate a consistent shift toward taller built form, typically organised as tower-and-podium typologies with more active ground levels.”

The proposal includes close to 6,000 sqm of retail and commercial space across the ground floor and podium levels, designed to create a more activated street edge along Herbert Street.

Aqualand’s plans would also introduce a landscaped podium shared between the two towers, with communal open space in the form of a podium rooftop designed to support resident interaction and improve urban greening outcomes. The scheme would also introduce pocket parks at the northern and southern ends of the site, including a landscaped area at the corner of Herbert and Ella streets designed to improve pedestrian amenity and soften the streetscape.

&nbsp;

The proposal is being progressed through the NSW Government’s Housing Delivery Authority pathway, which was introduced to accelerate housing supply across the state. The application was declared State Significant Development in April 2025 following an expression of interest process.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="faf6d97d-2671-454f-b85a-fe1c6a7be608" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.49%E2%80%AFAM.png?VersionId=diVd28OBVr5.YV.7prrOz.uAanwwwm7a" />

St Leonards has been particularly active with new developments in recent weeks. Developer SP Setia’s <a href="https://www.apartments.com.au/news/nsw/first-look-sp-setia-targets-st-leonards-skyline-with-40-storey-tod-tower">plans for a new 42-storey tower</a> recently went on exhibition through the same pathway, while <a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">Stockland’s 52-storey tower proposal</a> was also recently unveiled.

Aside from the St Leonards project, which is expected to take around nine months to move through the approvals process ahead of a potential 2027 launch, Aqualand is also preparing to launch Boronia, a new apartment project in Roseville comprising around 111 apartments on Larkin Street.

The developer also has approvals in place for the next stage of the Barangaroo precinct, which will feature new residential, retail, hospitality and community uses, alongside a new metro entry across the five-hectare site.

More than 50 new retail destinations are planned for Central Barangaroo, alongside a 270-metre-long boulevard connecting Hickson Park to Nawi Cove. Together with Harbour Park, more than 50 per cent of the precinct will comprise public open space and parkland.

First look: Aqualand joins St Leonards apartment party

<section data-scroll-anchor="false" data-testid="conversation-turn-5" data-turn="user" data-turn-id="e65dbe94-e3b6-47f7-b62a-9cbb30c9bf79" data-turn-id-container="e65dbe94-e3b6-47f7-b62a-9cbb30c9bf79" dir="auto">Time &amp; Place’s plans to transform the former David Jones factory building in Surry Hills into a mixed-use residential precinct have gone on exhibition through the NSW Government’s In-fill Affordable Housing pathway.</section>

<section data-scroll-anchor="false" data-testid="conversation-turn-6" data-turn="assistant" data-turn-id="request-WEB:f4d533b7-64a5-413d-86fd-5c99649c2b73-2" data-turn-id-container="request-WEB:f4d533b7-64a5-413d-86fd-5c99649c2b73-2" dir="auto">
The Marlborough House proposal, lodged for the <a href="https://www.apartments.com.au/new-apartments/marlborough-house-47-97-marlborough-street-surry-hills-nsw-2010">47-97 Marlborough Street</a> site, would see the adaptive reuse of the heritage-listed warehouse building alongside the construction of new residential additions and a separate apartment building on the northern portion of the site.

The proposal seeks approval for 172 apartments across three buildings, including 15 per cent affordable housing managed by a community housing provider for at least 15 years from occupation.

<img alt="Marlborough" data-entity-type="file" data-entity-uuid="5d1d3c2a-bf13-47d6-a335-7c01102cdee1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.29.36%E2%80%AFAM.png?VersionId=cjMYrbR.BLUlWH4dar0RVDDo0bG.u2YT" />

Interior view from the Northern Building Penthouse overlooking the park

&nbsp;

The redevelopment is planned for the prominent 3,413 sqm site bounded by Marlborough Street, Goodlet Street and Lansdowne Street, directly opposite Eddie Ward Park and around 200 metres from the Surry Hills light rail stop.

Time &amp; Place acquired the former David Jones building in 2024, marking the first time the property had changed hands in around 50 years.

Designed by Wardle, the proposal centres around the adaptive reuse of the former David Jones factory, originally constructed between 1913 and 1935 in the Inter-War Chicagoesque architectural style.

Wardle noted in its Architectural Design Report that the building “occupies a significant place in the industrial and cultural history of Surry Hills” and at its peak was “the largest department store manufacturing facility in Australia, employing over 800 people and fuelling the growth of Sydney’s fashion and retail industries.”

The practice said the project positions itself “not as an isolated intervention, but as a contributor to the civic, social, and architectural grain of the precinct.”

The proposal would deliver 75 apartments within the retained southern heritage building, 59 apartments within the central addition, and a further 38 apartments within the new northern building fronting Lansdowne Street.

Planning documents show the scheme would comprise a mix of heritage apartments, new-build apartments, townhouses and penthouses.

<img alt="Marlborough" data-entity-type="file" data-entity-uuid="57758518-40a3-4b83-958c-d06e96a2cffa" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.29.42%E2%80%AFAM.png?VersionId=VerlX9ST5xgBi8.1_YRsqdWTJeT6ygjs" />Interior View of the Heritage Building Apartment

The development would also include a ground-floor retail tenancy on the corner of Marlborough and Lansdowne streets, rooftop communal open space, a landscaped pedestrian link along the western edge of the site, and basement parking accessed from Lansdowne Street via a car stacker system.

&nbsp;

The scheme emerged from a competitive design process run by Urbis, with Wardle ultimately selected as the winning architect ahead of FJC Studio, TZG, Architectus and Wilkinson Eyre.

The Design Integrity Panel later described several aspects of the Wardle scheme as fundamental to the project, including “the stepped character of the new addition to the north of the site”, the landscaped western pedestrian link, and the “garden arrival” experience separating the original Marlborough House from the heritage addition.

Wardle’s design heavily references the site’s industrial and heritage history, while also responding to the surrounding Surry Hills streetscape.

The Architectural Design Report describes Surry Hills as “a finely grained neighbourhood with beautiful and expressive brickworks throughout the suburb,” with the proposal introducing a material palette intended to sit comfortably alongside the existing warehouse fabric and neighbouring terraces.

The report also outlines the project’s relationship with Eddie Ward Park and the broader landscape context of the area.

“Marlborough House occupies a site of deep cultural memory and the neighbouring Eddie Ward Park is of local ecological significance, where natural systems, topography, and stories have long shaped human experience,” Wardle noted in the report.

The architects said the proposal sought to “rebind built form to Country” through landscape, materiality and the adaptive reuse of the heritage structure.

<img alt="Marlborough House" data-entity-type="file" data-entity-uuid="9ae3f2f9-c85f-477a-a6f8-b43f6cb97c41" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.29.53%E2%80%AFAM.png?VersionId=B.qUCLqRvJOR.n9CvYcTpaknIX9LuqKZ" />

The project is also being progressed under the NSW Government’s in-fill affordable housing provisions, allowing developments that include affordable housing to access additional height and floor space incentives.

Under the plans, 2,593 sqm of the project’s floor space would be dedicated to affordable housing, slightly exceeding the required 15 per cent threshold.

In its Design Excellence Strategy, Urbis said the project aimed to “sensitively adapt and enhance the heritage-listed building on site through alterations and additions that preserve its historical significance” while delivering “high-quality market and infill affordable housing development in Surry Hills.”

Time &amp; Place has been one of the most active developers nationally in the last 12 to 24 months. Late last year they completed&nbsp;The Queensbridge in&nbsp;<a href="https://www.apartments.com.au/developments/southbank-vic-3006">Southbank</a>, a mixed-use tower with 353 apartments and a hotel. They are currently selling Park Modern, 246 apartments near the famous Botanic Gardens in&nbsp;<a href="https://www.apartments.com.au/developments/south-melbourne-vic-3205">South Melbourne</a>, and have future projects, <a href="https://www.apartments.com.au/new-apartments/the-wilmot-173-burke-road-28-hope-street-glen-iris-vic-3146">The Wilmot</a>&nbsp;in&nbsp;<a href="https://www.apartments.com.au/new-apartments/glen-iris-vic-3146">Glen Iris</a>, the redevelopment of the Northcote Plaza, and another tower in South Melbourne.

The developer broke into Sydney just a few years ago with Two Tides in Manly. They have another project nearby, which is at the ultra-luxury end of the market on&nbsp;<a href="https://www.apartments.com.au/buildings/shoreline-manly-beach-89-90-north-steyne-manly">North Steyne</a>, fronting the beach.

It is also continuing to work through the <a href="https://www.apartments.com.au/news/nsw/first-look-time-place-settles-on-design-for-the-chimes-potts-point-redevelopment">redevelopment of The Chimes building</a> on Macleay Street in&nbsp;<a href="https://www.apartments.com.au/developments/potts-point-nsw-2011">Potts Point</a>, as well as a project on <a href="https://www.apartments.com.au/news/nsw/time-place-to-take-on-mosman-apartment-market">Mosman's Redan Street</a>.
</section>

First look: Time & Place unveils Marlborough House redevelopment designs for former David Jones warehouse in Surry Hills

The residential transformation of St Kilda Road is set to continue into with more new apartment plans for the sought-after boulevard.

Wing Tai Asia has lodged plans for a major residential tower at 464-466 St Kilda Road, replacing the former VACC House with an 18-storey mixed-use development designed around a retained heritage podium and a sculpted contemporary tower.

The proposal, prepared under Victoria’s Significant Residential Development with Affordable Housing pathway, would deliver 325 apartments and ground-floor retail across the prominent 4,653 sqm boulevard site in Melbourne’s St Kilda Road North Precinct.

The project centres on the adaptive reuse of the site’s heritage-listed VACC Building, an eight-storey office designed by Bernard Evans that has occupied the address for decades. Planning documents state the development would involve “carefully dismantling and conserving off-site the original metal fabric of the podium visible from St Kilda Road,” before reinstating it as the defining frontage of the new scheme.

Above the restored podium, Wing Tai is proposing a curvilinear residential tower. The scheme includes 172 one-bedroom apartments, 63 two-bedroom apartments, 66 three-bedroom apartments, and 24 four-bedroom apartments, alongside two ground-floor food and beverage tenancies fronting St Kilda Road.

The tower has been designed with substantial articulation and variable setbacks to minimise perceived bulk and maintain view corridors along the boulevard. Urbis, which prepared the planning report, said the design “has been significantly articulated through a curvilinear design” with “an interplay with materials, façade expression and depth” to create visual separation and visual interest.

The proposal also includes 254 basement car spaces, landscaped pedestrian links connecting St Kilda Road and Queens Lane, and a biophilic landscape strategy featuring canopy trees, raised planters, cascading greenery and a glass oculus pool overlooking the eastern frontage.

Planning documents confirm the $270.1 million development will contribute 3 per cent of project costs to the Social Housing Growth Fund as part of the application process.

Wing Tai acquired the St Kilda Road property in 2018 alongside Abacus Property Group for $95.38 million, before later consolidating ownership of the site. The property previously served as the Victorian Automobile Chamber of Commerce headquarters for around 60 years.

The transformation of the St Kilda Rd boulevard is already beginning to materialise, with a number of high-profile projects recently completed, launched, or approaching launch as developers continue to back the long-term appeal of the precinct.

Among the most notable recent completions is Louise by Samuel Property Group, just off the strip on Queens Lane, the same pocket Hirsch &amp; Faigen recently launched The Queensbury. Mirvac is too on the same street with The Albertine, which is approaching completion.

Dexus recently secured approval for its slice of St Kilda Road, while Gurner also has approved plans for the precinct.

Staff reporter

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News