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Terrigal had the biggest median price decline in all New South Wales localities, according to a recent Investar report.
The property investment advisory firm says that both Terrigal's median townhouse price and median house price decreased by over 38% in the past five years.
This was followed by Tuncurry with a near 32% decline. 
<a href="https://www.propertyobserver.com.au/images/2019/1/24/nsw%20investar.jpg" target="_blank">Click here</a> to enlarge:
<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/2019/1/24/nsw%20investar.jpg" alt="">
The cheapest Terrigal offerings are typically bungalows in its bungalow village.
A two bedroom offering in the Terrigal Bungalow Village has been recently sold for $200,000 (pictured below).
Located at <a href="https://www.realestate.com.au/sold/property-house-nsw-terrigal-129153682" target="_blank">109/474 Terrigal Drive</a>, the house comes with two spacious bedrooms, large living areas, sunny front veranda, and the original kitchen in immaculate condition.
The bus stop is at the park entrance on Mobbs Road. 
<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/2019/1/24/terrigal%201.jpg" alt="">
Another two bedroom house was sold for $170,000 in the last year (pictured below).
The house at <a href="https://www.realestate.com.au/sold/property-house-nsw-terrigal-127662306" target="_blank">69/474 Terrigal Drive, Terrigal </a>features two bedrooms, office or third bedroom, self-contained laundry and north facing backyard.
It's just minutes from Erina Fair, Medical Centre's and Terrigal beach.
<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/2019/1/24/terrigal%202.jpg" alt="">
 
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j.ballantyne1990-6AQqhLzZaK

Terrigal sees biggest median price decline in NSW: Investar

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Australian global insurer QBE will join anchor tenant ANZ in Victoria Harbour’s 839 Collins Street office building.
QBE will occupy around 6,000 square metres across three floors and will move approximately 400 employees from 628 Bourke Street by mid-2019.
ANZ has already leased 26,500 square metres of the building.
The building was designed by award winning architect Denton Corker Marshall.
All tenants have access to a north-facing outdoor garden and terrace with a multi-purpose sports court, event spaces and BBQ facilities.
Opening as the lobby’s restaurant and café this year is, The Other Brother. 
The 39,000 square metre building is now close to being fully leased and will reach practical completion in March.
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QBE joins ANZ in Victoria Harbour office building

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ASIC has issued a consultation paper to update its guidance on responsible lending.
The (<a href="https://asic.gov.au/regulatory-resources/find-a-document/consultation-papers/cp-309-update-to-rg-209-credit-licensing-responsible-lending-conduct/" title="CP 309 Update to RG 209: Credit licensing: Responsible lending conduct">CP 309</a>) ASIC guidance has been in place since 2010 when the responsible lending laws were first introduced. Although the laws have not changed since 2010, ASIC considers it timely to review and update the guidance in light of its regulatory and enforcement work since 2011, changes in technology, and the recent Final Report of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry.
Our review of RG 209 will consider whether the guidance remains effective and identify changes and additions to the guidance that may help holders of an Australian credit licence to understand ASIC’s expectations for complying with the responsible lending obligations.
ASIC welcomes submissions on the update of our guidance on responsible lending from any interested party. In the consultation paper we have asked a series of questions about specific matters. We are also keen to hear from stakeholders about any other issues considered important that are not dealt with in the consultation paper.
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><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/2019/2/Subscriber%20strip%20ad.jpg" alt=""></a>
ASIC is also considering whether to provide an opportunity for key stakeholders to speak to the Commission at public hearings in addition to making written submissions.
Further information about the consultation and its progress will be available on the ASIC website.
“The responsible lending obligations are an integral part of the regulatory framework for all consumer loans” said ASIC Commissioner Sean Hughes. “ASIC wants to ensure its guidance provides industry with certainty, including as a result of emerging technology and initiatives such as open banking and comprehensive credit reporting. We encourage everybody to participate in this extensive consultation process”.
The consultation is open for a period of three months, with comments due by Monday 20 May 2019.
<h2>Background</h2>
Regulatory Guide 209 Credit licensing: Responsible lending conduct (RG 209) contains ASIC’s guidance on responsible lending for consumer credit. RG 209 was issued in 2010 and last revised in November 2014.
Since then there have been many matters that now mean it is timely for ASIC to update its guidance.
<ul>
<li>ASIC regulatory and enforcement actions, including court decisions,</li>
<li>ASIC thematic reviews on various parts of the industry such as interest-only loans,</li>
<li>the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry,</li>
<li>Recent and upcoming initiatives such as comprehensive credit reporting and open banking, and </li>
<li>Changes in technology.</li>
</ul>
ASIC has also received anecdotal feedback that licensees may be applying the responsible lending obligations where the law does not require them to be applied (e.g. in small business lending). 
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ASIC consults on updating its responsible lending guidance

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Alueria, the Wahroonga home of architect Charles Bruce Dellit, acclaimed for his design of the Anzac Memorial in Hyde Park, has been listed for sale.
The 1920s home is an example of the Inter-War Mediterranean movement, one of the few remaining homes of its style on the upper North Shore.
Alueria, preserved with its Italian Renaissance-style intact, is up for sale for the first time in a quarter of a century. It last traded for $765,000 in 1993.
Set on a 1,855 sqm Fox Valley Road parcel, the double brick, five bedroom home with symmetrical facade is accessed through an entry comprising circular arches, tapered columns and a loggia.
<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/2019/2/15/Wahroonga2.jpg" alt="">
The formal living room with four metre high ceilings and rated timber detailing features three sets of French doors topped by semi-circular fanlights and a fireplace.
There's a fireplace in the formal dining room. Sandstone terraces overlook the swimming pool and half-size tennis court.
Downstairs there's a separate bedroom that was originally a maid's room.
Chadwick Real Estate agent Penelope Prior has the listing with around $3 million being sought.
Dellit would host soirees in the home's ball room, which is now the lower-level family entertaining area and library.
This article was first published in the Weekend Australian.
 
 
 
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Wahroonga trophy home Alueria listed

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Glenveagh, a mid-century modern Bendigo residence has been brought to market with an asking price of $1.15 to $1.25 million.
Ringed by trees, the self described "jewel of McIvor Hill", is said to be "offering one of the area's finest vantage points".
Situated at <a href="https://www.realestate.com.au/property-house-vic-bendigo-128214202" target="_blank">28-30 Doak Street</a>, the 1950s established home features views of both the surrounding gardens and city landscape beyond.
It is its stone chimney that evokes the MCM feel.
<img src="https://www.urban.com.au/images/2019/1/29/Glenveagh%202.JPG" alt="">
Set on 2513 square metres of manicured grounds the listing states that the updates to the home over the years have "remained sympathetic to the home's origins".
The four bedroom, three bathroom residence features a Roman bath styled in ground pool, as well as multiple paved courtyards and an open fireplace.
Located five minutes from the Bendigo CBD the purchaser of Glenveagh has first option to purchase the adjoining 1665 square metre title at $450,000.
<img src="https://www.urban.com.au/images/2019/1/29/Glenveagh%203.JPG" alt="">
The property is set on two separate titles.
It has remained on market for 279 days and was last sold in 1995 for $264,215.
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1950s Bendigo residence Glenveagh listed for sale

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GUEST OBSERVATION
The leaders of our banks and financial institutions are seen as the most self-serving in the nation, according to a national survey undertaken by researchers at Swinburne University of Technology.
More than a third (35.4%) of respondents believe banking and financial institutions show “no leadership for the greater good”. This score is slightly worse than public perceptions of the Federal Government, substantially worse than religious institutions and significantly worse than trade unions.
The results, from a nationally representative sample of 1,000 Australians, also repudiate the <a href="https://www.ausbanking.org.au/media/media-releases/media-release-2018/banks-making-progress-in-delivering-better-customer-outcomes" target="_blank">Australian Banking Association’s claim</a> a year ago that “Australians believe banks are heading in the right direction”.
And given this survey was done in December 2018, before the <a href="https://financialservices.royalcommission.gov.au/Pages/default.aspx" target="_blank">Banking Royal Commission</a> had completed its work exposing misconduct in the financial services sector, it’s likely a future poll will show even greater community distrust of bankers.
Transparency and accountability are crucial
Our findings come from the initial results of the Australian Leadership Index, a new quarterly survey from the Swinburne Business School that measures and tracks community perceptions and expectations of leadership for the greater good across 13 societal institutions.
The index won’t be officially published until later in the year. But given the important public discussion about corporate leadership in the wake of the <a href="https://treasury.gov.au/publication/p2019-fsrc-final-report/" target="_blank">final report</a> of the banking royal commission, we think it’s useful to share a snapshot of our findings.
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Consistent with other <a href="https://www2.deloitte.com/au/en/pages/financial-services/articles/deloitte-trust-index-banking-survey?utm_source=wp&amp;utm_medium=blog&amp;utm_campaign=fsi-deloitte-trust-index-2018&amp;utm_content=web" target="_blank">studies</a> that highlight the importance of transparency and accountability to perceptions of trust, our research confirms the importance of these attributes to perceptions of leadership for the public good.
From a community perspective, leadership for the greater good occurs when leaders demonstrate high ethical standards, when they demonstrate transparency and accountability for their positive and negative impacts, and when they seek to balance the interests of multiple stakeholders, including the wider community in which their institutions are nested.
So, leadership for the greater good is reflected in what value leaders create, how they create value, and for whom they create value.
Unhappily, banking leaders are found wanting on all counts.
The importance of how value is created
But other institutions are also found wanting, with our results revealing a generalised pessimism about Australian leadership.
Our survey results shed light on where the public think leaders are failing and what the community expects of leaders and their institutions to serve the greater good.
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Notably, creating economic value is not a highly regarded aspect of leadership for the greater good. This is not to say it is unimportant. But on its own it is insufficient.
What looms largest in the public mind when thinking about the greater good is the social value that institutions create, how ethically they create this value, and their transparency and accountability for positive and negative impacts.
Our research demonstrates that leadership for the greater good is as much about how leaders create value for their stakeholders — from their employees to their customers to society-at-large — as it is about what value they create and for whom they create value.
It’s not hugely complicated.
And yet, as revealed by the endless, unedifying parade of misconduct in government, business, religious, sporting and other civil society institutions, community standards and expectations are too often observed in the breach.
In the wake of the banking royal commission, the Australian community has a golden opportunity for a thoroughgoing discussion about the leadership we need to protect and enhance the public interest.
We hope the Australian Leadership Index will contribute to that discussion, by making all our data freely accessible through a new data visualisation platform. This will enable easy tracking of how institutions are performing according to public perceptions of their impact on the public good.
Wise leaders focus on the greater good. It behoves all leaders to create this new culture of public leadership.<img src="https://counter.theconversation.com/content/111346/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;">
Samuel Wilson, Senior Lecturer in Management, Swinburne University of Technology
Jason Pallant, Lecturer of Marketing, Swinburne University of Technology 
Timothy Colin Bednall, Senior Lecturer in Management, Fellow of the APS College of Organisational Psychologists, Swinburne University of Technology
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/one-third-of-australians-think-banks-do-nothing-for-the-greater-public-good-111346" target="_blank">original article</a>.
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One-third of Australians think banks do nothing for the greater public good

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Raine &amp; Horne has been appointed to market modern luxury apartments in WG Friendship Plaza, the tallest building on Fiji.
Aveet Goundar, at of Raine &amp; Horne Fiji, said WG Friendship Plaza, the contemporary luxury hotel, apartment, and commercial tower, is the first to combine residential and commercial functions.
“Merging residential and commercial space makes WG Friendship Plaza a milestone venture in Fiji in more ways than one,” Goundar commented.
The apartments will start from FJ$450,000 (A$298,000) for a studio unit to FJ$2.485 million (A$1.65 million) for a 226 square metre five-bedroom deluxe apartment.
 <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/2019/2/14/WG20Friendship20Plaza.20image202.jpg" alt="">
The tower offers a variety of uses. It includes a five-star hotel, international business offices, opulent apartments, high-end retail, restaurants, health and fitness studios, entertainment facilities, business conference rooms, and a full complement of hotel and residential amenities, including executive lounge and swimming pool.
<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/2019/2/14/WG20Friendship20Plaza.image201.jpg" alt="">
The Suva skyscraper has been developed by a private Chinese investor on Fiji’s south-east coast. 
“As the largest and most advanced foreign investment project in Fiji, WG Friendship Plaza is a solid representation of Fiji’s enormous potential and the strength of its international relations.”
Goundar expects the luxury apartments will appeal to local and foreign buyers.
Raine &amp; Horne aso has three offices in Fiji including Suva, Nadi and Lautoka. 
“Significantly, these apartments are on a strata title, and as the WG Friendship Plaza sits within the city boundaries of Suva, there are no restrictions on foreign investors to buy a slice of Fiji’s most prestigious and iconic tower,” he said. 
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Apartments in Fiji’s tallest skyscraper hit the market

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GUEST OBSERVATION
The largest desalination plant in Australia, Victoria’s A$3.5 billion ‘water factory’ can supply nearly a third of Melbourne’s needs. 
Removing salts and other impurities from water is really difficult. For thousands of years people, including <a href="http://classics.mit.edu/Aristotle/meteorology.2.ii" target="_blank">Aristotle</a>, tried to make fresh water from sea water. In the 21st century, advances in desalination technology mean water authorities in Australia and worldwide can supply bountiful fresh water at the flick of a switch.
<a href="https://theconversation.com/cape-town-is-almost-out-of-water-could-australian-cities-suffer-the-same-fate-90933" target="_blank">Achieving water security</a> using desalination is now a priority for the majority of Australia’s capital cities, all but one of which are on the coast. Using the abundance of sea water as a source, this approach seeks to “climate proof” our cities’ water supplies.
It’s hard to believe now that as recently as 2004 all Australian capital city water authorities relied on surface water storage dams or groundwater for drinking water supplies. Since Perth’s first desalination plant was completed in 2006, Australian <a href="https://en.wikipedia.org/wiki/List_of_desalination_plants_in_Australia" target="_blank">capital cities have embraced massive seawater desalination “water factories”</a> as a way to increase water security.
Perth and Adelaide have <a href="http://www.bom.gov.au/water/npr/docs/2016-17/national_performance_report_2016_17_urban_water_utilities_lowRes_update.pdf" target="_blank">relied most on desalination</a> to date. Canberra, Hobart and Darwin are the only capitals without desalination.
The drought that changed everything
From the late 1990s to 2009 southeastern Australia suffered through the <a href="http://www.bom.gov.au/climate/updates/articles/a010-southern-rainfall-decline.shtml" target="_blank">Millennium Drought</a>. This was a time of widespread water stress. It changed the Australian water industry for ever.
All major water authorities saw their water storages plummet. Melbourne storages <a href="http://www.waterstory.melbournewater.com.au/content/our-urban-water-story/millennium-drought-finally-ends" target="_blank">fell to as low as 25% in 2009</a>. The Gosford-Wyong water storage, supplying a fast-growing area of more than 300,000 people on the New South Wales Central Coast, <a href="/news">dropped to 10% capacity</a> in 2007.
These were familiar issues in locations such as Perth, where the big dry is epic. For more than four decades, the city’s residents have been watching their <a href="https://theconversation.com/is-perth-really-running-out-of-water-well-yes-and-no-90857" target="_blank">supply of surface water dwindle</a>. Remarkably, only about <a href="https://theconversation.com/is-perth-really-running-out-of-water-well-yes-and-no-90857" target="_blank">10% of Perth’s water now comes from this source</a>.
Perth’s two desalination plants have a <a href="https://www.water.vic.gov.au/water-grid-and-markets/victorian-desalination-project/desalination-background/desalination-history" target="_blank">combined output of up to 145 billion litres (gigalitres, GL) a year</a>. That’s nearly half the city’s water needs. <a href="https://www.watercorporation.com.au/water-supply/our-water-sources/desalination" target="_blank">Both have remained in operation</a> since they were built.
Modern industrial-scale desalination uses <a href="https://en.wikipedia.org/wiki/Reverse_osmosis" target="_blank">reverse osmosis</a> to remove salt and other impurities from sea water. Water is forced under high pressure through a series of membranes through which salt and other impurities cannot pass.
Design, construction and maintenance costs of these industrial plants are high. They also <a href="http://www.awa.asn.au/AWA_MBRR/Publications/Fact_Sheets/Desalination_Fact_Sheet.aspx" target="_blank">use massive amounts of electricity</a>, which increases greenhouse gas emissions unless renewable energy sources are used.
Another concern is the return of the excess salt to the environment. Australian <a href="https://www.sciencedirect.com/science/article/abs/pii/S0043135418307012" target="_blank">studies have shown minimal impact</a>.
Just as many of the massive new desalination factories were completed, and proudly opened by smiling politicians, it started raining. The <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2012-06-26/sydney-desalination-plant-to-switch-off/4092482" target="_blank">desalination plants were switched off as storages filled</a>. However, water consumers still had to pay for the dormant plants to be maintained – hundreds of millions of dollars a year in the case of the <a href="https://www.dailymail.co.uk/news/article-5749621/Melbourne-desalination-plant-costs-tax-payers-eye-watering-649-million-year-operate" target="_blank">Melbourne</a> and <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2013-09-27/nsw-desalination-plant-deal-costing-customers-%2410-billion/4985168" target="_blank">Sydney</a> plants.
Bringing plants out of mothballs
Now drought has returned to southeast Australia. Once again, <a href="http://www.bom.gov.au/water/dashboards/#/water-storages/summary/state" target="_blank">many capital city water storages are in steep decline</a>. So what is the response of water authorities in the desal age? Not surprisingly, <a href="https://www.desalination.biz/news/0/Australias-demand-for-desalination-jumps-amid-drought/9090/" target="_blank">more desalination is their answer</a>.
One by one the desalination plants are being switched back on. Sydney has just <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2019-01-27/sydney-desalination-plant-turned-on-so-how-does-it-work/10753334" target="_blank">begun the process of restarting its plant</a>, which was commissioned in 2010. Adelaide has plans to <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2018-12-14/adelaide-desal-plant-revival-plan-to-ease-use-of-murray-water/10619960">greatly increase the modest output</a> from its plant this year. The Gold Coast plant, which can also supply Brisbane, is <a href="https://www.seqwater.com.au/s3fs-public/PDF%20Documents/Publications/2017%20A4%20Fact%20sheet%20Gold%20Coast%20Desalination%20Plant%20FINAL.pdf" target="_blank">operating at a low level in “hot standby” mode</a>.
After a dry winter, Melbourne Water has advised the Victorian government to make the <a href="https://www.theage.com.au/national/victoria/proposed-record-desal-order-to-put-pressure-on-water-bills-20180813-p4zx9e" target="_blank">largest orders for desalinated water</a> since its plant, able to produce 150GL a year, was completed in December 2012. Mothballed for more than four years, it <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2017-03-19/victoria-desalination-plant-finally-delivers-water/8367554" target="_blank">supplied its first water</a> to reservoirs in March 2017. The recommended annual order of 100GL from April this year is almost one-quarter of Melbourne’s annual demand. Plant capacity is <a href="https://www.aquasure.com.au/desalination-plant" target="_blank">capable of being expanded to 200GL a year</a>.
When bushfires recently threatened Victoria’s largest water storage, the Thomson dam, the government said desalinated water could be used to <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2019-02-01/thomson-dam-fire-threaten-melbourne-water-supply-desalination/10770718" target="_blank">replace the 150GL a year taken from the dam</a>.
Sydney’s plan for future droughts is to <a href="https://www.planning.nsw.gov.au/-/media/Files/DPE/Other/About-us/Metropolitan-Water/2017-Metropolitan-Water-Plan.pdf" target="_blank">double the output of its desalination plant from 250 million litres (megalitres, ML) a day to 500ML a day</a>. This would take its contribution from 15% to 30% of Sydney’s water demand.
Perth, Adelaide, Melbourne, Brisbane and the Gold Coast already have the capacity to supply larger proportions of their populations with desalinised water as required.
What about inland and regional settlements across Australia? Large-scale desalination plants may not viable for Canberra and other inland centres. These regions would require sufficient groundwater resources and extraction may not be environmentally sound.
How much, then, do we pay for the water we use?
The plants supplying our biggest cities <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2013-09-27/nsw-desalination-plant-deal-costing-customers-%2410-billion/4985168" target="_blank">cost billions to construct and maintain, even when they sit idle for years</a>.
The Australian Water Association estimates the <a href="http://www.awa.asn.au/AWA_MBRR/Publications/Fact_Sheets/Desalination_Fact_Sheet.aspx" target="_blank">cost of supplying desalinated water varies widely, from $1 to $4 per kL</a>.
In fact, water costs in general vary enormously, depending on location and how much is used. The pricing structures are about as complex as mobile phone plans or health insurance policies.
The highest price is in Canberra where residents pay <a href="https://www.iconwater.com.au/about/our-pricing.aspx" target="_blank">$4.88/kL</a> for each kL they use over 50kL per quarter. The cheapest rate is Hobart’s <a href="https://www.taswater.com.au/Your-Account/Water-and-Sewerage-Charges" target="_blank">$1.06/kL</a>.
The issue of water pricing leads on to the question of what happened to the alternative strategies – recycling and demand management – that cities pursued before desalination became the favoured approach? And how do these compare to the expensive, energy-hungry process of desalination? We will consider these questions in our second article.<img src="https://counter.theconversation.com/content/110972/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;">
Ian Wright, Senior Lecturer in Environmental Science, Western Sydney University
Jason Reynolds, Research Lecturer in Geochemistry, Western Sydney University
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/cities-turn-to-desalination-for-water-security-but-at-what-cost-110972" target="_blank">original article</a>.
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Cities turn to desalination for water security, but at what cost?

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Goodman Group delivered an operating profit of $465 million for the half year ended 31 December 2018, up 10.4% on 1H FY18.
Its statutory profit was $929.2 million.
The group has upgraded its forecast FY19 EPS to 51.1 cents per share, up 9.5% on FY18, maintaining its forecast full year distribution of 30.0 cents per security, up 7% on FY18.
Group Chief Executive Officer, Greg Goodman said the results reflect continued strong performance across the management and development businesses.
"Our deliberate focus on infill markets, where property fundamentals are robust, has driven partnership returns and significant growth in assets under management which are up 24% to $43 billion," Goodman said. 
Goodman noted structural changes driving customers’ businesses have fuelled the continued evolution of the industrial property sector.
"Supply chain efficiency is critical for our customers’ success, with increased importance placed on the location and role of logistics and warehousing space," he said. 
"This trend has resulted in significant valuation gains of $2.4 billion over the half for the group and partnerships, like-for-like growth in net property income of 3.2% and a robust development workbook of $3.6 billion, expected to exceed $4 billion in the near term."
<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/2019/2/14/goodman%201.jpg" alt="">
 
Source: Goodman Group
Valuation increases and development completions saw a valuation uplift of $2.4 billion across the group and partnerships.
The results continued strength in property fundamentals resulting in occupancy at 98%, weighted average lease expiry (WALE) of 4.7 years and like-for-like net property income growth of 3.2%.
Its development work in progress (WIP) was steady at $3.6 billion across 68 projects in 12 countries with a forecast yield on cost of 7.1%.
The management earnings were up 15% on 1H FY18 with average Partnership returns expected to be in the mid-teens for FY19.
<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/2019/2/14/goodman%202.jpg" alt="">
Souce: Goodman Group
The concentration of its portfolio in key urban centres saw increased customer demand over the half, driving occupancy, rental growth and valuations. Coupled with continued supply constraints in Goodman’s markets, competition for sites and resulting increased intensity of use, property fundamentals are expected to remain robust.
Commenting on the outlook for the Group, Greg Goodman said their customers’ industries continued to experience considerable change which is driving opportunity.
"Most industries including e-commerce, traditional retail and third-party logistics, are re-evaluating supply chains, which is driving the evolution of the industrial property sector," he said. 
"Our strategic focus on infill markets is being met with strong customer demand which is generating long-term value. Barriers to entry remain high in our markets, but we have the management and infrastructure built over decades to facilitate the demand from our customers.
"Market conditions remain robust with the shift towards increased automation, consumerism and heightened service expectations. Consequently, we are experiencing high levels of profitability supported by these ongoing structural changes.
"We believe the opportunity to deploy capital at an attractive return is growing.
"As a result, FY19 EPS guidance is being increased to 51.1 cents per share, (up 9.5% on FY18) and FY19 DPS will be up 7% to 30 cents per security.”
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Goodman Group increases growth forecast to 9.5%

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The final site at the Gore Hill estate on Sydney’s Lower North Shore has been announced to the market.
It is being offered by Knight Frank’s Matthew Lee and Arland Domingo, in conjunction with GJS Property’s Chris Bailey, on behalf of Lindsay Bennelong Developments. 
Located at Lot 3 Broadcast Way in Gore Hill, the 3,840 square metre site has DA approval for a 13,998 square metre fully designed and engineered data centre facility. 
Upon completion the fully engineered data centre is tipped to sell for circa $100 million or lease on market terms. 
According to Knight Frank’s Matthew Lee, Partner, Head of Industrial, NSW Lot 3 Broadcast Way is the last piece of the Gore Hill estate available and represents a rare opportunity to acquire or lease a completed, engineered data centre. 
"Following expansive take up across the colocation and wholesale markets we have seen a surge in demand for data centres from both owner operators and providers," Lee said. 
"Recognising this demand, Lindsay Bennelong Developments acquired approval for a four-level data centre with market leading power, fibre and connectivity suitable for a variety of uses. Construction will commence in the coming months with a delivery in 2020. 
“As the only new dedicated commercial precinct on the Lower North Shore capable of delivering a data centre so close to North Sydney and the Sydney CBD we expect it will attract strong interest from owner-occupiers and tenants.”
Sydney’s combination of a unique geographic situation and mature economy are the driving forces behind a growing data centre market, according to Jabez Tan, Head of Research, Data Centres at Structure Research.
“Similar to other mature markets in the Asia-pacific region, Sydney is a magnet for hyperscale cloud and this is even more crucial for Australia from a latency and performance standpoint given its geographic isolation from the rest of Asia," said Tan. 
“Getting closer to end users and an increasingly strict data sovereignty regime makes in-country infrastructure a must-have. This should keep data centre demand in Sydney steady with all of the larger technology uptake indicators healthy.
“Sydney continues to be the primary gateway location for international firms to access the Australian market from a connectivity standpoint and for Australian enterprises to access international markets. Growing usage in social media platforms, content and streaming, online gaming and mobile apps is expected to translate into increased demand for data centre capacity.”
Chris Bailey, Director at GJS Property, said the area was already home to Fox Sports, ASX Data Centre and Chief Entertainment. 
"The Gore Hill estate is ideally located within close proximity to Pacific Highway with extensive current and future public transport links,” said Bailey.
“Following the successful sale of Lot 6 last year by GJS and Knight Frank we are excited to bring Lot 3 to market in what is an exceptionally rare offering. This site will be able to deliver a ‘live’ data centre in 18 months so for providers that cannot accommodate the current demand Lot 3 could be their perfect solution to capture the market.”<s></s>
The Department of Planning and Environment recently unveiled a 20-year plan for the region, which includes a new metro station for Crows Nest as part of the $20 billion Sydney Metro. This vision will create a major employment and housing hub on Sydney’s Lower North Shore, running from Macquarie Park to the Sydney CBD. 
Gore Hill is within easy access to Sydney’s domestic and international airports, and is within close proximity to the Gore Hill Freeway which links the M2, M7 and M5 motorways. The site is two kilometres from the new Crows Nest train station being developed, and an eight minutes’ walk from the existing St Leonards train station.
Lot 3 Broadcast Way, Artarmon, is for sale or lease via expressions of interest closing 4pm ESST, Thursday 21 March 2019.
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Last site at Gore Hill industrial estate announced to the market

Developer <a href="https://www.apartments.com.au/developers/bottega-property-group">Bottega House</a> has secured council approval for its first Brisbane project - a $270 million luxury residential development on an absolute riverfront site in leafy St Lucia.&nbsp;

The 15-storey project, known as <a href="https://www.apartments.com.au/new-apartments/st-lucia-by-bottega-house-180-macquarie-street-st-lucia-qld-4067">St Lucia by Bottega House</a> , will occupy a prime north-facing site at 178-180 Macquarie Street, directly fronting the Brisbane River in the established inner-west suburb known for its rowing clubs, golf courses and sprawling University of Queensland campus.&nbsp;

St Lucia by Bottega House will feature a suite of amenities including dedicated wellness spaces, a mineral pool and cold plunge. The project has been positioned to attract affluent owner-occupiers seeking high-quality, house-sized apartments.&nbsp;

Bottega House has been set up by co-directors Nick Malloch, Louis Mennes and Craig Marsh.

Malloch said the project drew inspiration from its Brisbane River setting and leafy inner-west surrounds, while responding to the demands of discerning locals looking to transition from freestanding homes into apartment living.&nbsp;

"With an expansive river frontage and lush green surrounds, we knew we had to create something special that reflects the natural beauty of the location while offering residents masterfully crafted homes," said Malloch.&nbsp;

"Our intent was to complement the project's quiet, private setting by introducing residences that offer a calm retreat and sanctuary from the everyday. The result is a harmonious blend of architecture, interiors and amenity that emphasises wellbeing, comfort and beauty without excess."&nbsp;

Malloch added that project consultants had been carefully selected in alignment with Bottega House's commitment to care, quality and attention to detail. The design team includes architects <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a>, interiors practice <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and landscaping by <a href="https://www.apartments.com.au/architects/urbis">Urbis</a>.&nbsp;

Three-bedroom apartments are expected to start around $5 millio. Selling agents Keenan &amp; Byrne said the pricing strategy for the project was anticipated to achieve upwards of $25,500 per square metre.&nbsp;

The project's development approval this week follows the success of Bottega House's inaugural Queensland project - a 22-storey collection of full-floor sky homes at Broadbeach on the Gold Coast which included the sale of a two-storey penthouse at a record price for a beachside residence.&nbsp;

St Lucia by Bottega House is expected to launch to market in November, with construction anticipated to be completed mid 2029.

[smartcode_project_cta:default project_id=151826]

Joel Robinson

Bottega House to make Brisbane debut with St Lucia riverfront apartment development

<a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> is advancing its affordable apartment model into Brisbane with the acquisition of another site at Cordelia Street in South Brisbane for $27 million.

Sherpa, which has a $1.7 billion pipeline across Southeast Queensland, intends to bring a cohort of apartments exclusively for first homebuyers into its proposed 186-apartment project to be built at 2 Cordelia Street.

The Sherpa model has already been incredibly well received from their Gold Coast projects, where Sherpa Group set aside a number of apartments exclusively for first homebuyers.

The new $320 million project marks Sherpa Group's second development in Brisbane, following its $255 million Symphony project, also on Cordelia Street, which is currently under construction.

Symphony will deliver 146 apartments across 28 levels, offering a mix of one, two and three-bedroom apartments. With 114 already sold, construction by <a href="https://www.apartments.com.au/builders/lps-group">LPS Group</a> is scheduled for completion in 2028.

[smartcode_project:default project_id=7574 project_image_fid=351654]

Sherpa Founder, Christie Leet, said the company was excited to be venturing into Brisbane for its second residential project.

“We’re big believers in the future of Brisbane as we lead into the 2032 Olympics and beyond,” Leet said.

“The success of Symphony has guided us into what will be our second project and we look forward to submitting our plans with council soon so we can deliver yet another quality project to the inner city residential market.

“Our Flourish model has been very well received both in Brisbane and the Gold Coast, and we’re excited to be able to offer some of these apartments again exclusively to first homebuyers to help get them into the property market.

“The model has been extraordinarily well received in our previous projects and it is something we are committed to moving forward.”

2 Cordelia Street will be designed by <a href="https://www.apartments.com.au/architects/hal-architects">HAL Architects</a> &amp; Finegrain and will include Sherpa’s signature residential amenities including pool, gym, recreation, wellness and work from home spaces.

The project will feature ground-floor commercial space, creating a vibrant amenity for residents and the surrounding community.

A development application will be lodged with Brisbane City Council in August on the code compliant site and will be launched to the market early 2027.

Sherpa acquires new site for second Brisbane apartment tower

One of North Sydney's best-known commercial buildings could become hundreds of new homes, with insurance giant Zurich Australia lodging a State Significant Development Application (SSDA) to transform 5 Blue Street into a mixed-use residential development above North Sydney Station.

Rather than demolishing the existing building and starting again, Zurich is proposing an adaptive reuse project that would convert the landmark office building into a 15-level residential development delivering 62 apartments, 86 affordable co-living dwellings, activated retail and significant upgrades to the Blue Street Plaza.

The proposal reflects a growing trend of commercial property owners repositioning ageing office assets into residential housing as Sydney grapples with housing supply shortages and changing workplace demand.

<img alt="Zurich" data-entity-type="file" data-entity-uuid="0bba7d12-06dc-4375-aad7-238c94b21ac5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%2010.42.05%E2%80%AFAM.png?VersionId=NJl5oLAEBDGuPmY3RnyliKODjMc8lvRh" />

Located directly above North Sydney Metro and train station, the 3,051 sqm site occupies one of the most strategically positioned parcels of land on Sydney's Lower North Shore.

Designed by fjcstudio, the proposal seeks to retain and adapt much of the existing structure while creating a contemporary residential address that better connects with the public domain surrounding North Sydney Station.

The application proposes two basement levels, ground floor retail, affordable co-living accommodation across the podium levels, and apartments above, while preserving and enhancing the publicly accessible Blue Street Plaza.

Rather than pursuing maximum apartment numbers, Zurich has opted for a housing mix heavily weighted towards larger owner-occupier residences.

The proposal includes 62 build-to-sell apartments comprising 12 one-bedroom, 19 two-bedroom, 29 three-bedroom apartments and two premium penthouses. It also incorporates 86 affordable co-living dwellings, which would be managed in perpetuity by a Community Housing Provider.

That balance between traditional apartments and affordable housing reflects the NSW Government's push to increase housing diversity around major transport infrastructure.

The proposal has been lodged concurrently with a rezoning application, with Zurich arguing the site is ideally positioned to support additional housing given its immediate proximity to public transport, employment and services.

"The proposal aims to respond to the housing challenges facing Sydney through the delivery of diverse housing types in a highly accessible location," the design report by fjcstudio states. It also seeks to improve pedestrian amenity through upgrades to Blue Street Plaza while creating a high-performing residential building that responds to the surrounding context.

<img alt="Zurich" data-entity-type="file" data-entity-uuid="36082e15-c636-4481-bb68-5a5f6443fe39" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%2010.41.36%E2%80%AFAM.png?VersionId=5P6VD.fvmqjQfIG3TWWMRXxQWiQBjeFB" />

Rather than replacing the commercial building, fjcstudio has developed a design that works with the existing structural framework above the rail corridor, an approach that significantly reduces demolition while allowing the site to be repositioned as a mixed-use residential precinct.

The existing structural constraints have informed much of the building's design, including its relationship with Blue Street and surrounding public spaces.

The building has been designed as a slender tower rising above a clearly defined podium, with vertically expressed façades intended to reduce the perceived bulk while reinforcing North Sydney's emerging skyline.

According to fjcstudio, the architectural language responds directly to the surrounding commercial towers while maintaining a finer grain expression more closely aligned with the neighbouring Lavender Bay streetscape.

The tower incorporates articulated façade elements, landscaped podium edges and recessed upper levels to soften its appearance and improve pedestrian amenity below.

A significant component of the proposal is the revitalisation of Blue Street Plaza.

The existing public space has long served as one of the primary pedestrian connections between North Sydney Station, Greenwood Plaza and Blue Street, yet its role is expected to become even more important following the opening of Sydney Metro.

Zurich's proposal seeks to strengthen that role by improving landscaping, introducing new retail frontages, enhancing pedestrian permeability and creating more active edges throughout the day and evening.

Ground floor retail would wrap the plaza, while separate residential and co-living entries have been designed to improve wayfinding without reducing street activation.

Landscape design has been integrated throughout the podium and public realm, softening what is currently one of the most heavily urbanised parts of North Sydney.

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fjcstudio has carefully oriented apartments towards Sydney Harbour and the CBD while using privacy blades and articulated façades to minimise overlooking between neighbouring buildings.

Large framed openings along the western elevation maximise harbour outlooks, while the eastern apartments have been angled towards the south-east to improve privacy from neighbouring development.

The project forms part of the continuing transformation of North Sydney from a predominantly commercial CBD into a genuine mixed-use city centre.

Since the completion of Victoria Cross Metro Station, developers have increasingly shifted their attention towards residential projects capable of leveraging the area's unparalleled transport connectivity.

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FiveX recently lodged plans for a 61-storey, 490-apartment tower that would become one of the tallest residential buildings in North Sydney if approved.

Aqualand continues to expand its Lower North Shore presence following the completion of AURA on Walker Street and its recent St Leonards and Roseville proposals.

Developers are also progressing projects throughout Walker Street, Miller Street and the Victoria Cross precinct as demand for well-located owner-occupier apartments continues to strengthen.

First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station

Busy developer Aqualand Prestige has formally taken the next step in its expansion across Sydney's Lower North Shore, lodging a State Significant Development Application (SSDA) for its long-held Archer Street site in Chatswood.

The application covers <a href="https://www.apartments.com.au/new-apartments/51-55-archer-street-chatswood-nsw-2067">51-55 Archer Street</a>, a 1,767 sqm amalgamated site on the eastern edge of the Chatswood CBD, where the developer is seeking approval for a 45-level mixed-use tower delivering 114 apartments, including a significant affordable housing component, alongside retail, commercial space and six basement levels of parking.

The SSDA marks the latest milestone for a project Aqualand has been quietly progressing over the past two years. The developer first secured the site for its Aqualand Prestige platform before undertaking an alternative design excellence process with PTW Architects, ultimately avoiding a formal design competition through the Housing Delivery Authority pathway.

The proposal has evolved considerably from Aqualand's original concept. The revised scheme has been designed around larger owner-occupier product, with an unusually high proportion of three and four-bedroom apartments, targeting the more affluent buyer profile, and downsizer, emerging across the North Shore.

<img alt="Archer St" data-entity-type="file" data-entity-uuid="0171204c-5811-41b5-9b09-2335d1b7c3d0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%208.52.48%E2%80%AFAM.png?VersionId=6YTuxfq.puZo7k2wbfgemcO5K3QfXYGQ" />

The 114-apartment mix comprises six studios, 27 one-bedroom apartments, 18 two-bedroom apartments, 50 three-bedroom residences and 13 four-bedroom homes. A quarter of the building will be dedicated to affordable housing, well above the mandated 15 per cent&nbsp;

PTW has structured the building vertically, with affordable housing across levels one to six, premium apartments through levels seven to 31, duplex skyhomes on klevels 32 to 43, a penthouse on level 44, and a rooftop plant level above. Six basement levels will provide resident parking and servicing.

The tower is proposed to reach approximately 154 metres, placing it among a growing collection of residential high-rises transforming Chatswood's skyline.

Rather than competing purely on height, PTW says the design has been driven by creating a slimmer tower capable of delivering significantly larger apartments.

"The primary objective of this project was to create a distinctive building that stands out from the recently approved or built structures in the Chatswood area," the design report states, noting the structural efficiency allows greater investment into apartment quality and resident amenity.

Residents would have access to more than 450 sqm of communal open space including landscaped gardens, swimming pool, rooftop entertaining areas, fitness spaces, community gardens, children's play areas and barbecue facilities.

A major focus of the design has been the public domain.

The ground plane has been opened up through landscaped terraces inspired by Willoughby's sandstone ridges, with native planting, public seating, artwork, retail activation and a series of gathering spaces intended to soften what has traditionally been a hard commercial streetscape.

The landscape strategy references Blue Gum forests once common throughout the area, while incorporating Indigenous storytelling, public art and lighting installations to strengthen the connection to Country.

Chatswood has been one of Sydney's busiest apartment markets over the past 12 months, with a steady pipeline of both new project launches and fresh development applications.

Hyecorp recently launched Celine, a 122-apartment development just along Archer Street, while Changfa and Huirong Group are progressing The Anderson, an 84-apartment project on Anderson Street.

Develotek recently secured approval for a 101-apartment tower on Pacific Highway, while Tian An LFD received the green light for Hammond Greens, its apartment development on the edge of the Chatswood Bowling Club.

Commercial property developer FiveX is also making its move into the residential market. Last month it lodged plans for a 61-storey tower with 490 apartments, which, if approved, would become one of the tallest residential buildings in Chatswood.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-fivex-targets-chatswood-skyline-with-61-storey-tower-after-north-sydney-plans">First look: FiveX targets Chatswood skyline with 61-storey tower after North Sydney plans</a>

Aqualand is also expanding its development pipeline following the launch of its luxury residential brand, Aqualand Prestige. The developer has delivered a string of high-end apartment projects across Sydney's affluent suburbs over the past decade, most recently AURA by Aqualand on Walker Street in North Sydney.

[smartcode_project:default project_id=30959 project_image_fid=292863]

It has since quietly assembled its next wave of projects.

Earlier this year Aqualand launched Boronia in Roseville, a boutique 111-apartment development on Larkin Street. The project is one of the first significant apartment developments to launch in the suburb ahead of what is expected to become one of Sydney's most active new housing precincts under the NSW Government's Low and Mid-Rise Housing reforms, which allow greater density around train stations.

[smartcode_project:default project_id=152095 project_image_fid=373685]

The developer has also lodged plans for a two-tower, 413-apartment development on Herbert Street in nearby St Leonards, further strengthening its presence across the Lower North Shore.

Beyond that, Aqualand remains behind the final stage of Barangaroo, where plans will deliver a five-hectare mixed-use precinct comprising new homes, retail, hospitality and community facilities, alongside a new Metro entrance and more than two hectares of public open space, completing the Barangaroo precinct.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/central-barangaroo-development-takes-big-step-with-concept-proposal-approval">Central Barangaroo development takes big step with concept proposal approval</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-aqualand-joins-st-leonards-apartment-party">First look: Aqualand joins St Leonards apartment party</a> 
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First look: Aqualand pushes ahead with Chatswood apartment tower as SSDA lodged for Archer Street

Mass timber is becoming an increasingly popular construction material in apartment developments, but Adelaide developer <a href="https://www.apartments.com.au/developers/otello">Otello</a> is taking the approach a step further.

At its new <a href="https://www.apartments.com.au/new-apartments/flowe-bowden-18-gibson-street-bowden-sa-5007">Flowe Bowden</a> development, the exposed cross-laminated timber (CLT) structure isn't just about reducing the building's environmental footprint. It also forms the foundation of a broader wellness strategy, influencing everything from indoor air quality and natural materials to the way residents move through and experience the building.

The 115-apartment mixed-use development, designed by Melbourne-based architecture practice Fieldwork, will occupy a prominent island site opposite Bowden Village Reserve, combining one, two and three-bedroom apartments with retail and a dedicated wellness destination.

[smartcode_project:default project_id=152022 project_image_fid=375528]

Wellness isn't confined to a gym or shared resident facility at Flowe. Instead, Fieldwork embedded the concept into the building itself.

The development has been split into two residential wings connected by a naturally ventilated central breezeway, replacing traditional enclosed corridors with open-air walkways that improve natural light, encourage cross ventilation and create more opportunities for neighbourly interaction.

"Rather than treating wellness as something that only happens on the ground floor, our response integrates it throughout the building, which led us to ask what it really means to design a healthy building," Fieldwork Director Quino Holland said.

[smartcode_project:default project_id=152022 project_image_fid=375531]

The building's architecture also reflects Bowden's industrial heritage. The lower podium references the area's historic brick and sandstone buildings, while the upper levels transition to exposed CLT, allowing the timber structure to become a defining feature throughout the apartments and shared spaces.

The use of mass timber sits alongside a range of sustainability initiatives, including a fully electric, gas-free design, rooftop solar and a targeted 5 Star Green Star rating.

[smartcode_project:default project_id=152022 project_image_fid=375524]

Inside the residences, the focus remains on natural, durable materials. Blackbutt engineered timber flooring, exposed CLT ceilings, porcelain surfaces and warm timber joinery create a calming interior palette, while low-VOC finishes and responsibly sourced materials have been selected to improve indoor air quality.

Kitchens have been designed as the centrepiece of each apartment, featuring porcelain island benchtops, timber-look cabinetry and brushed steel tapware, with layouts that maximise natural light and ventilation.

[smartcode_project:default project_id=152022 project_image_fid=375530]

The more traditional interpretation of wellness comes in the form of Level Eleven, a two-storey wellness club spanning the ground floor, mezzanine and first floor.

The facility will include a gym, yoga and reformer Pilates studios, Finnish and infrared saunas, magnesium hot and cold plunge pools, and dedicated recovery spaces. Unlike many residential wellness facilities, Level Eleven will also operate commercially, allowing the broader Bowden community to access the venue while giving residents exclusive membership benefits.

The ground floor has also been designed around everyday living. A café overlooking Bowden Village Reserve will activate the street frontage, while a bike workshop with tool storage, co-working space and dog wash has been incorporated to support daily routines and encourage interaction between residents.

"Flowe brings together my two biggest passions, creating places and creating healthier lives," Otello founder Daniel Harris said.

"We wanted to create something Adelaide hasn't seen before, a genuinely healthy building, where the way you live is lifted without even trying."

Flowe is positioned directly opposite Bowden Village Reserve and within walking distance of Bowden Railway Station and the Adelaide Entertainment Centre, placing future residents just minutes from the Adelaide CBD while remaining connected to one of the city's most established urban renewal precincts.

[smartcode_project_cta:default project_id=152022]

Staff reporter

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