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<p>An elevated Edwardian home in Armadale  has sold for $1,682,000. </p>
<p><a href="https://www.realestate.com.au/sold/property-house-vic-armadale-128240014" target="_blank">Located at 25 Clarendon Street</a>, the home on a north-facing block comes with two bedrooms, separate dining, and secure parking.</p>
<p><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/2018/9/28/39045e41bc93489a8d461ab637e5742e.jpg" alt=""></p>
<p>A current offering is a 1910 Edwardian three bedroom house with the indicative selling price between $1.15 million to $1.25 million.</p>
<p>The house at<a href="https://www.realestate.com.au/property-house-vic-armadale-129351614" target="_blank"> 7 Union Street</a>, Armadale (pictured below) comprises of three bedrooms, living with open fireplace, bright kitchen, and sun room.</p>
<p><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/2018/9/17/armadale%202.jpg" alt=""></p>
<p>Other features include the courtyard garden, secure carport parking and high ceilings. </p>
<p>It is close to Armadale Station, Glenferrie Road shops and cafes, and Armadale Reserve. </p>
<p>The suburb's current median house value sits at $2.02 million, some 23% down over 12 months given the stock on offer has not included the typical prestige listings. </p>
<p>There have been 90 or so sales in the past 12 months which is around 20% fewer than in recent years.</p>
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j.ballantyne1990-6AQqhLzZaK

Edwardian home in Armadale sells for $1,682,000

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<p>Melbourne’s newest, masterplanned residential development by EIG Developments, Opalia, was last launched last Saturday.</p>
<p>The debut release, <a href="http://www.opalia.com.au" target="_blank">Eaglevale</a>, had 31 lots ranging in size from 231 square metres to 670 square metres.</p>
<p>EIG Developments’ CEO George Georgiou said that as of four days after release, 95% of lots has sold and that affordability is critical for families.</p>
<p>In launching the development, the City of Melton Mayor, Bob Turner, said that Melton is one of the fastest growing municipalities in Australia.</p>
<p>He said the the area combined urban and rural lifestyles within a comfortable commuting distance of Melbourne.</p>
<p>"Melton Council embraces the opportunity to work collaboratively with developers and, across all levels of government to deliver quality infrastructure and services for our growing community," Turner said.</p>
<p>"Opalia is truly a community where residents can come together, to gain a real sense of belonging and feel they are part of something special."</p>
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Opalia's first release 95% sold out after four days

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<p>EXPERT OBSERVER</p>
<p>Engineering construction work done rose by 2.2 per cent in the June quarter, down by 5.2 per cent from a year ago. A month ago, it was estimated that engineering construction was up by 0.4 per cent in the quarter, but down 7.2 per cent over the year. </p>
<p>Infrastructure boom: Engineering work done for the public sector rose by 2.7 per cent in the June quarter. Over the year to June, a record $37.4 billion of work was done for the public sector. </p>
<p>Work yet to be done: Excluding resources, engineering work yet to be done stands at $43.1 billion, below record highs. But outstanding road and railway work were both just below record highs. And electricity generation, transmission and distribution work was at five-year highs. The data on engineering construction work is important for builders, building material companies, professional services, developers, government businesses and other dependent sectors and industries.</p>
<p><img src="https://www.urban.com.au/images/2018/9/26/CommSec%201.JPG" alt=""></p>
<p><strong>What does it all mean? </strong></p>
<p>The infrastructure boom continues on Australia’s eastern seaboard. Strong population growth and government spending are supporting a gargantuan pipeline of building activity in Victoria, New South Wales and Queensland. </p>
<p>In fact, construction work done in Victoria is at record highs, the highest in New South Wales in five years and at the strongest level since December 2015 in Queensland. While activity is largely concentrated on public transportrelated rail, road and airport projects, work done on much-needed electricity generation, transmission and distribution infrastructure is at five-year highs. </p>
<p>And it appears that the surge in construction activity and public transport-related infrastructure spending are generating price pressures. Over the year to June, construction costs were up 3.3 per cent - just below nine-year highs. And engineering costs rose by 4.2 per cent - a seven-year high. </p>
<p>Quantity surveyor WT Partnership’s recently released Australian Construction Market Conditions report says that infrastructure tender price growth will increase by up to seven per cent next year. Big-ticket projects, such as Badgerys Creek Airport in Western Sydney and the Melbourne Metro Rail Tunnel, will boost demand for building materials, plant, equipment and scarce labour – especially engineers, project managers and construction trades.</p>
<p>Wage pressures are building in the construction sector.</p>
<p>In fact, skilled vacancies for construction managers are around the highest level in seven years.</p>
<p><strong>What do the figures show? </strong></p>
<p>Engineering construction work done rose by 2.2 per cent in real (inflation-adjusted) terms in the June quarter – the fifth gain in six quarters. But work done is down 5.2 per cent on a year ago. Previously, engineering work was reported as rising by 0.4 per cent in the June quarter to be down 7.2 per cent over the year. </p>
<p>Value of work completed for the public sector rose by 2.7 per cent in the quarter while private sector activity rose by 1.8 per cent. </p>
<p>Over the year to June a record $37.4 billion of infrastructure work was completed (engineering work for the public sector.)</p>
<p><img src="https://www.urban.com.au/images/2018/9/26/CommSec%203.JPG" alt=""></p>
<p> </p>
<p>Construction work rose in four of the states and territories in the June quarter: NSW (up 3.3 per cent); Victoria (down 4.7 per cent); Queensland (up 3.4 per cent); South Australia (up 9.6 per cent); Western Australia (up 2.7 per cent); Tasmania (down 1.0 per cent); Northern Territory (down 16.2 per cent); ACT (down 16.5 per cent). </p>
<p>Work yet to be done: There was $64.4 billion of engineering work yet to be done as at June 2018, up from $59.8 billion in the previous quarter. Excluding the resource sector (coal, oil, pipelines etc.) work to be done stands at $43.1 billion, below the record high of $45.3 billion in March 2012. </p>
<p>As at June 2018, $18.3 billion of work was to be completed on roads and highways and $11.7 billion on railways. And work to be completed on electricity generation, transmission and distribution was the highest in five years at $6.8 billion. </p>
<p><img src="https://www.urban.com.au/images/2018/9/26/CommSec%202.JPG" alt=""></p>
<p>In original terms, engineering work commenced in the June quarter was $29.0 billion, down by 2.0 per cent in the quarter. Almost $90.1 billion of engineering work was started in the past year. What is the importance of the economic data? </p>
<p>The Bureau of Statistics releases quarterly estimates of Engineering construction activity. The estimates include value of engineering construction work done, commenced and yet to be done, classified by state or territory, commodity (roads, bridges, pipelines etc.), sector (public/private) undertaking the work, and sector for whom the work is being done. The data is a comprehensive assessment of the infrastructure pipeline. What are the implications for interest rates and investors? </p>
<p>According to surveyor Rider, Levett and Bucknall, a record 735 cranes were hoisted above our major cities in the September quarter, reflecting the continuing strength of the construction sector within the Australian economy. Around 321 cranes are located in Sydney, followed by 192 in Melbourne and 112 in South-East Queensland.</p>
<p>Construction companies such as Lend Lease, Thiess, Brookfield Multiplex, BGC and Leighton have cranes and advertising scattered all over our major cities. They have plenty of work and are hoovering up highly skilled engineers, project managers and construction workers. </p>
<p><img src="https://www.urban.com.au/images/2018/9/26/CommSec%204.JPG" alt=""></p>
<p>Demand for labour and materials in infrastructure and construction-related sectors will increase over the coming year, pressuring contractors and sub-contractors. </p>
<p>According to WT Partnership, tender prices will grow by 3- 7 per cent in New South Wales, Victoria, South-East Queensland, Tasmania, South Australia and the ACT in 2018-2019. </p>
<p>Major projects under construction include the Sydney and Melbourne Metros. And projects that will enter the pipeline include the East Coast Inland rail line, Melbourne Airport rail, Brisbane Cross River Rail and Badgerys Creek rail. </p>
<p>CommSec expects official interest rates to remain stable until late 2019.</p>
<p><em>Ryan Felsman is a Senior Economist for CommSec</em></p>
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Record annual infrastructure building: Ryan Felsman

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<p>The ABC expects between $45 million and $50 million from the sale of its Ripponlea studio, in Melbourne's Elsternwick.</p>
<p>The 8 Gordon Street offering (pictured above) has been anticipated since the ABC moved staff to its revamped Southbank headquarters.</p>
<p>The ABC has already sold its nearby Selwyn Street facility to Woolworths for about $45 million.</p>
<p>Savills expect interest from residential and commercial developers, along with education, aged-care and healthcare operators.</p>
<p>The Gordon Street studios, built between 1956 and 1965, have been home to television shows including Bellbird, Power Without Glory, The Gillies Report, Kath and Kim and more recently, Mad as Hell.</p>
<p>The studios, closed last November, were home to the first purpose-built television studio in Victoria in with a Post-War International style building.</p>
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ABC Ripponlea studio listed for sale through Savills

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<p>EXPERT OBSERVER</p>
<p>Residential aged care facilities should be more like a home and less like a hospital.</p>
<p>Most older people <a href="http://www.who.int/mental_health/publications/dementia_report_2012/en/" target="_blank">want to stay at home</a> as long as they can. When this is no longer possible, they move into residential aged care facilities, which become their home. But Australia’s care facilities for the aged are growing in size and becoming less home-like.</p>
<p>In 2010–11, 54% of residential aged care facilities in major Australian cities had <a href="https://www.aihw.gov.au/reports/aged-care/residential-aged-care-in-australia-2010-11/contents/table-of-contents" target="_blank">more than 60 places</a>, and the <a href="https://www.pc.gov.au/inquiries/completed/aged-care/report/aged-care-overview-booklet.pdf" target="_blank">size of the average facility</a> is growing.</p>
<p>Today, more than 200,000 Australians live or stay in residential aged care on any given day. There are <a href="https://www.gen-agedcaredata.gov.au/Topics/Services-and-places-in-aged-care" target="_blank">around 2,672 such facilities</a> in Australia. This equates to an average of around 75 beds per facility.</p>
<p>Large institutions for people with disability and mental illness, as well as orphaned children, were once commonplace. But now – influenced by the 1960s <a href="https://psychcentral.com/encyclopedia/deinstitutionalization/" target="_blank">deinstitutionalisation</a> movement – these have been closed down and replaced with smaller community-based services. In the case of aged care, Australia has gone the opposite way.</p>
<p><strong>Why is smaller better?</strong></p>
<p>Evidence shows that aged care residents have better well-being when given opportunities for self-determination and independence. Internationally, there has been a <a href="https://www.sciencedirect.com/science/article/pii/S1525861016300482" target="_blank">move towards</a> smaller living units where the design encourages this. These facilities feel <a href="https://www.propertyobserver.com.au/https://www.ncbi.nlm.nih.gov/pubmed/26743545" target="_blank">more like a home</a> than a hospital.</p>
<p>The <a href="http://apps.who.int/iris/bitstream/handle/10665/186463/9789240694811_eng.pdf;jsessionid=731A680E51575BBDBEC07AFC9C449F23?sequence=1" target="_blank">World Health Organisation</a> has indicated that such models of care, where residents are also involved in running the facility, have advantages for older people, families, volunteers and care workers, and improve the quality of care.</p>
<p>In the US, the <a href="https://www.thegreenhouseproject.org/resources/research" target="_blank">Green House Project</a> has built more than 185 homes with around 10-12 residents in each. Studies show Green House residents’ enhanced quality of life doesn’t compromise <a href="https://www.propertyobserver.com.au/https://www.ncbi.nlm.nih.gov/pubmed/26743545" target="_blank">clinical care</a> or <a href="https://www.propertyobserver.com.au/https://www.ncbi.nlm.nih.gov/pubmed/21158746" target="_blank">running costs</a>.</p>
<p>Older people have a better quality of life if they can be involved in outdoor activities.</p>
<p>Around 50% of residents living in <a href="https://www.gen-agedcaredata.gov.au/Resources/Factsheets-and-infographics/Care-needs-factsheet.pdf?ext=" target="_blank">aged care facilities</a> have dementia. And <a href="https://www.propertyobserver.com.au/http://journals.sagepub.com/doi/abs/10.1177/1471301214532460" target="_blank">research has shown</a> that a higher quality of life for those with dementia is associated with buildings that help them engage with a variety of activities both inside and outside, are familiar, provide a variety of private and community spaces and the amenities and opportunities to take part in domestic activities.</p>
<p>In June 2018, an <a href="https://theconversation.com/caring-for-elderly-australians-in-a-home-like-setting-can-reduce-hospital-visits-97451" target="_blank">Australian study</a> found residents with dementia in aged-care facilities that provided a home-like model of care had far better quality of life and fewer hospitalisations than those in more standard facilities. The home-like facilities had up to 15 residents.</p>
<p>The study also found the cost of caring for older people in the smaller facilities was no higher, and in some cases lower, than in institutionalised facilities.</p>
<p>There are some moves in Australia towards smaller aged care services. For example, aged care provider <a href="https://www.wintringham.org.au/" target="_blank">Wintringham</a> has developed services with smaller facilities for older people who are homeless. Wintringham received the <a href="https://www.wintringham.org.au/built_environment" target="_blank">Building and Social Housing Foundation World Habitat Award 1997</a> for Wintringham Port Melbourne Hostel. Its innovative design actively worked against the institutional model.</p>
<p><strong>Bigger and less home-like</strong></p>
<p>Historically, nursing homes in Australia were small facilities, with <a href="https://www.anu.edu.au/fellows/jbraithwaite/_documents/Articles/The%20Nursing%20Home%20Industry.pdf" target="_blank">around 30 beds</a> each, often run as family businesses or provided by not-for-profit organisations. Between <a href="https://www.parliament.nsw.gov.au/lcdocs/other/9768/Aged%20care%20industry%20facts.pdf" target="_blank">2002 and 2013</a> the proportion of facilities with more than 60 beds doubled to 48.6%. <a href="http://www.stewartbrown.com.au/images/documents/StewartBrown---ACFPS-Residential-Care-Report-March-2017.pdf" target="_blank">Financial viability</a> rather than quality of care drove the increase in size.</p>
<p>Today, around 45% of facilities are operated by the private for-profit sector, 40% by religious and charitable organisations, 13% by community-based organisations, 3% by state and territory governments, and less than 1% by local governments.</p>
<p>In 2016, the Australian Institute of Health and Welfare (AIHW) reported that residential care services run by government organisations were more likely to be in small facilities. One-fifth (22%) of <a href="https://www.gen-agedcaredata.gov.au/www_aihwgen/media/2017-Factsheets/Services-and-Places-Factsheet-2016%E2%80%9317_2.pdf?ext=.pdf" target="_blank">places in these facilities</a> are in services with 20 or fewer places. Almost half (49%) of privately-run residential places are found in services with more than 100 places.</p>
<p>All of this means that more older Australians are living out their last days in an institutional environment.</p>
<p>Once larger facilities become the norm, it will be difficult to undo. Capital infrastructure is built to have an <a href="https://agedcare.health.gov.au/sites/g/files/net1426/f/documents/09_2016/2016_report_on_the_funding_and_financing_of_the_aged_care_industry_2.pdf" target="_blank">average 40-year life</a>, which will lock in the institutional model of aged care.</p>
<p>The built environment matters. The royal commission provides an opportunity to fundamentally critique the institutional model.<img src="https://counter.theconversation.com/content/103521/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1"></p>
<p><a href="https://theconversation.com/profiles/ralph-hampson-161263" target="_blank">Ralph Hampson</a> is the Senior Lecturer, Health and Ageing, University of Melbourne</p>
<p>This article is republished from The Conversation under a Creative Commons license.</p>
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Australia's residential aged are getting bigger and less home-like: Ralph Hampson

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<div>Moody's Investors Service says that its outlook for the Australian real estate investment trust (A-REIT) industry is stable, except for the retail segment, which faces a challenging operating environment.</div>
<div> </div>
<div>The growth in operating income will remain strong, and they expect aggregate comparable net operating income growth of 3% to 4% for their 16 rated A-REITs during the next 12-18 months</div>
<div> </div>
<div>Moody's Investors Service expect the office segment will see the strongest income growth, followed by industrial and retail.</div>
<div> </div>
<div>Low office vacancy rates in Sydney and Melbourne make these cities "a landlord's market."</div>
<div> </div>
<div>Moody's forecast for operating income growth of 3%-4% will be driven by low vacancy rates and strong demand on the back of favourable economic conditions.</div>
<div> </div>
<div>GPT Group, Mirvac Group and Dexus have the highest exposure in this segment and will likely record the highest growth over the next 12-18 months.</div>
<div> </div>
<div>Strong demand underpins solid growth in the industrial segment, and Moody's expects operating income growth of about 3%, with Sydney being the strongest market.</div>
<div> </div>
<div>Dexus, Goodman Group, Mirvac, Goodman Australia Industrial Partnership and Stockland Group will be the main beneficiaries according to Moody's analysis.</div>
<div> </div>
<div>Moody's Investors Service stated the retail segment is facing structural challenges on sluggish consumption and online sales growth.</div>
<div> </div>
<div>"Nevertheless, higher quality retail space remains resilient, and Moody's expects operating income growth of 2.0%-2.5%," it noted.</div>
<div> </div>
<div><img src="https://www.urban.com.au/images/2018/9/26/Moodys%20chart.JPG" alt=""></div>
<div> </div>
<div>"Well-located shopping centers that attract a deep pool of potential tenants and are underpinned by non-discretionary spending, or that are destination hubs, will continue to perform well," they added.</div>
<div> </div>
<div>Scentre Group, GPT, Mirvac and Vicinity Centres will benefit from these factors, while other centers, with a high level of discretionary spending exposure, will underperform, based on their latest data.</div>
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Moody's suggest outlook for A-REITs is stable, but retail face challenges

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<div>The Shakespeare Property Group has settled the $100 million purchase of the Novotel Twin Waters Resort on Queensland’s Sunshine Coast from the Abacus Property Group.</div>
<div> </div>
<div>
<div>This is Shakespeare's fifth major hotel acquisition bringing their total room stock to more than 1,200 rooms, this includes two other hotels managed by AccorHotels – Pullman Cairns International and Novotel Oasis Resort Cairns.</div>
</div>
<div> </div>
<div>Located between the Maroochy River and Mudjimba Beach, the Novotel Twin Waters Resort site (pictured above) is set on a 36 hectare holding comprised of the low-rise resort with 361 hotel rooms.</div>
<div> </div>
<div>Shakespeare have stated that their current aim is to improve the current facilities to position the resort as a "leading" business events venue and leisure resort in Queensland. </div>
<div> </div>
<div><img src="https://www.urban.com.au/images/2018/9/26/Novotel%202.JPG" alt=""></div>
<div> </div>
<div>Matt Young, Vice President of Operations for AccorHotels in Queensland and Northern Territory said that AccorHotels is proud to strengthen its business partnership with Shakespeare Group.</div>
<div> </div>
<div>The $100 million purchase of the resort comes right as construction of tourism infrastructure on the Sunshine Coast has picked up including the new runway and terminal facilities being developed for Sunshine Coast Airport and two new 5-star hotels approved over the past six months.</div>
<div> </div>
<div><img src="https://www.urban.com.au/images/2018/9/26/Sunshine%20Coast%20Airport.JPG" alt=""></div>
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Shakespeare Property Group has purchased the Novotel Twin Waters Resort

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<p>The Campbellfield Plaza shopping centre in Melbourne’s northern suburbs will be offered for sale via an Expression of Interest campaign handled by JLL’s Simon Rooney, Stuart Taylor and Tom Noonan.</p>
<p>The Campbellfield Plaza is only 14km from Melbournes's CBD and was first built in 1983 before being redeveloped in 2004.</p>
<p>The 18,000 sqm shopping centre is anchored by Coles, Kmart, Aldi and Officeworks.</p>
<p>The centre is added to by 19 mainly non-discretionary specialty stores and a Kmart Tyre &amp; Auto.</p>
<p>Positioned on Hume Highway and Mahoneys Road.</p>
<p>The centre provides a total land area of 5.863 hectares, coupled with a WALE of approximately 8.87 years (by area) and Net Income of approximately $4.6 million p.a.</p>
<p>The Campbellfield Plaza offering is provides the only 24 hour Kmart in the northern suburbs of Melbourne, in addition to primarily food &amp; grocery based tenants and 822 car parking for customers.</p>
<p>Head of Retail Investments, Australasia Simon Rooney added “Small sub-regional shopping centres which are largely food, service and convenience-based remain highly sought after given the limited reliance on discretionary sales”.</p>
<p>“Campbellfield Plaza is also unique in that it offers a higher than average majors to specialty ratio when compared to sub-regionals that have come to market in recent years.” </p>
<p>"We have seen $644.0 million transact in the year to date including the recent JLL sale of Sturt Mall to SCA for $73 m, Gateway Plaza Leopold to Charter Hall for $117.0 m, Toormina Gardens to Fort Street Real Estate Capital Fund III for $83.3 m, Grand Plaza Shopping Centre (50%) to Invesco Real Estate for $215.0 m, Brandon Park Shopping Centre to Newmark Capital for $135.0 m,” he noted.</p>
<p>Unlisted funds and offshore investors have driven acquisitions in the retail sector since 2013, having jointly accounted for 65% of activity.</p>
<p>Unlisted funds have acquired $4.1 billion of sub-regional assets since the surge in activity began five years ago, followed by offshore investors at $2.5 billion and REITs at $1.7 billion over the same period.”</p>
<p>He suggested that, “Victoria in particular, provides sound investment fundamentals with the economy underpinned by broad-based growth driven by strong growth in household consumption, tourism, infrastructure spending and business investment.”</p>
<p>Mr Rooney concluded by stating, "we’re expecting strong interest in Campbellfield Plaza due to its metropolitan Melbourne location only 14km from the Melbourne CBD, and strong investment fundamentals”</p>
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Campbellfield Plaza shopping centre offered by JLL

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<p class="null">ASIC has applied to the Federal Court of Australia for the appointment of provisional liquidators to Aviation 3030 Pty Ltd (Aviation) related to that company’s operation of a property investment scheme involving 98 hectares of land at Point Cook, Victoria.</p>
<p class="null">ASIC’s application has been listed for hearing in the Federal Court of Australia in Melbourne on 27 September 2018.</p>
<p class="null">ASIC is seeking:</p>
<ul>
<li>the appointment of George Georges and John Lindholm of Ferrier Hodgson as provisional liquidators of Aviation; and</li>
<li>orders requiring the provisional liquidators to provide a report to the court which sets out, among other things, the identity of Aviation investors (which includes shareholders and unitholders), the financial position of Aviation, and an opinion as to the validity of the issue of 63% of shares in Aviation to a director and former director.</li>
</ul>
<p class="null">The grounds of ASIC’s application include that:</p>
<ul>
<li>there is a justifiable lack of confidence in Aviation’s management;</li>
<li>Aviation issued shares without a prospectus when one was required; and</li>
<li>the Aviation scheme is an unregistered managed investment scheme which was required to be registered with ASIC.</li>
</ul>
<p class="null">Once the provisional liquidators’ report has been provided to the Court, ASIC will consider whether it should seek orders from the Court for the winding up of Aviation and the managed investment scheme it operates through five separate trusts (the Aviation scheme). ASIC will also consider whether to seek orders to wind up all of the trustee companies involved in the Aviation scheme, each of which are controlled by Aviation directors, as follows:</p>
<p>1.      Aviation3030 Investment Pty Ltd</p>
<p>2.      Aviation3030 Holdings Pty Ltd</p>
<p>3.      Aviation 3030 Heng Ly Pty Ltd</p>
<p>4.      Point Cook Aviation3030 Pty Ltd</p>
<p>5.      Aviation 3030 HL Pty Ltd.</p>
<p class="null">Aviation purchased property at Point Cook for $7.8 million in 2011 with a view to rezoning the property to increase the value of 756 Aviation Road. <span style="font-family: Arial, Helvetica, sans-serif; font-size: 14px;">To f</span><span>acilitate the purchase and rezoning of the property, Aviation raised around $10.59 million from approximately 73 shareholders and unitholders. On 13 September 2012 the Aviation property was rezoned from Green Wedge Zone to Farming and appears to have significantly increased in value.</span></p>
<p class="null">On 6 July 2018 Aviation entered into a contract for the sale of the land at Point Cook. This contract was formally terminated on 17 August 2018 and ASIC is not aware of there being any current sale contract.</p>
<p class="null">ASIC has previously, in 2016, issued court proceedings against Aviation to limit the ability of Aviation to deal with the proceeds of the sale of the Aviation property, pending further disclosures being made to investors about a share issue in 2016 to companies owned by a director and former director, and an opportunity to obtain independent advice concerning their investments.</p>
<p class="null">By agreement with ASIC, Aviation provided corrective disclosure to investors in September 2016 about the 2016 share issue to companies owned by a director and former director. The freezing order was vacated when it became apparent that the sale would not then proceed.</p>
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ASIC moves on Aviation 3030's Point Cook rezoned property play

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<p>Properties in Melbourne’s south-west are being snapped up much faster than the same time last year, new data shows.</p>
<p>The latest Real Estate Institute of Victoria (REIV) report showed properties in Williams Landing sold 41 days faster this August (64 compared with 105 in 2017), while properties in the neighbouring suburb of Seabrook were on the market for 35 fewer days (down to 49 from 84).</p>
<p>Point Cook listings sold 19 days quicker (52 compared to 71) and the days on market for Altona shrunk 16 days down to just 32 from 48.</p>
<p>REIV President Richard Simpson said there is a clear trend in this region of Melbourne.</p>
<p>“Melbourne’s south west is becoming increasingly popular with buyers, especially young families, who are attracted by access to public transport, proximity to the CBD, plenty of green open space, shopping centres and community facilities,” Simpson said.</p>
<p>Tithe median house price for Point Cook and Williams Landing are both below the $840,000 median house price for metropolitan Melbourne and below the $750,000 cut off for first home buyer incentives.</p>
<p>The median in Point Cook increased 13.4% in the 12 months to 30 June 2018 to $706,000 while Williams Landing’s median went up by 10.6% to $685,000.</p>
<p>Days on market increased four days from 32 days in August 2017 to 36 days in August 2018 for metropolitan Melbourne but decreased four days, from 47 to 43, for regional Victoria.</p>
<p>The South Gippsland town of Lang Lang had the most significant shrinkage of days on market between August 2017 and August 2018, losing 63 days from 82 to 19.</p>
<p>Other strong performers were Skye, Narre Warren South, Doreen, Cranbourne East and Cranbourne West where properties lasted just 20 days on market, Simpson said.</p>
<p>“Private property listings do not last long in the Yarra Valley with the REIV’s Days on Market data showing that homes are snapped up within 10 days in Millgrove, 13 days in Upwey, 14 days in Woori Yallock, 15 days in Yarra Junction and Launching Place and 17 days in Warburton."</p>
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Time on market shrinking in Melbourne's south-west: REIV

<p>A who's who of Australian surfing, business and entertainment has emerged on title records following the completion of Esprit Rainbow Bay, the latest boutique beachfront apartment development by former professional surfer Paul Gedoun's S&amp;S Projects.</p>

<p>The completed project has attracted an enviable collection of owners, many with long-standing ties to the southern Gold Coast and the surf culture that has helped define Rainbow Bay and neighbouring Kirra for generations.</p>

<p>Given Gedoun's own background in surfing, it perhaps comes as little surprise that some of Australia's most recognisable surfers have chosen to buy into the development overlooking one of the country's most celebrated stretches of coastline.</p>

<p>Pezet Matheson directors Jayde Pezet and Todd Matheson launched the project in late 2021, and have managed the sales campaign all the way through to its sell-out and recent completion.</p>

<p><img alt="Esprit" data-entity-type="file" data-entity-uuid="08fc6261-b84e-4b09-8a44-66d3067fd0d1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-29%20at%208.51.05%E2%80%AFAM.png?VersionId=4AOcb6ETZwNUnMPdTtz1B3pZAIB_jgZ2" /></p>

<p>Former world champion Mick Fanning, who grew up in Coolangatta, secured an apartment in 2023. He paid&nbsp;$2.07 million. Last year he sold his Bilinga home for over $16 million.</p>

<p>Three-time world champion Joel Parkinson also purchased in the development, alongside big wave surfer Mark Mathews. Mathews bought the most expensive apartment in the building, spending just over $4 million.</p>

<p>Joining them is Rip Curl founder Doug Warbrick, whose company helped shape Australia's global surfing industry over the past five decades.</p>

<p>The appeal of Rainbow Bay has extended well beyond the surfing community.</p>

<p>International DJ Paul Fisher purchased an apartment through his investment vehicle, YLB Developments, an abbreviation of his trademark phrase "You Little Beauty".</p>

<p>The purchase comes as Fisher and his wife Chloe are developing their own luxury apartment project further north in Palm Beach. Their boutique beachfront development, Pescado, comprises just seven apartments on Jefferson Lane, which start from just shy of $6 million. The couple intend to retain the two-level penthouse as their Australian base between international touring commitments.</p>

<p>Melbourne Storm coach Craig Bellamy and his wife Wendy have also invested in Esprit, purchasing two apartments after spending decades holidaying on the southern Gold Coast. They also have a luxury apartment in Joe Adsett's Rockpool, less than 400m away from Esprit.</p>

<h2>Boutique project draws owner-occupiers</h2>

<p>Esprit launched in 2021 and sold strongly, with buyers drawn to its boutique scale, beachfront position and contemporary design.</p>

<p>The completed development comprises 94 apartments across 11 levels, offering expansive floorplans designed primarily for owner-occupiers rather than the investor market.</p>

<p>Crowning the building is Club Esprit, pitched as being the Gold Coast's first residential rooftop wellness centre. The roof features a&nbsp;25 metre magnesium lap pool, which is surrounded by wet daybeds and poolside cabanas,&nbsp;multiple barbecue areas,&nbsp;a yoga and relaxation play lawn, and a private dining room with a kitchen scullery, bar, lounges, and an outdoor terrace.</p>

<p>The wellness centre is&nbsp;fully equipped with a Technogym, ice bath, infra-red sauna, steam room, thermal room, and treatment room. The roof has views spanning&nbsp;Rainbow Bay, Snapper Rocks and the Pacific Ocean.</p>

<h2>S&amp;S Projects continues to shape Rainbow Bay</h2>

<p>S&amp;S Projects founder Paul Gedoun has become one of the key figures behind Rainbow Bay's evolution over the past several years.</p>

<p>After establishing S&amp;S Projects, Gedoun has focused on delivering lifestyle-driven apartment developments designed primarily for owner-occupiers seeking a permanent coastal home.</p>

<p>Esprit is Gedoun's third completed project in Rainbow Bay, following Flow and Awaken, both of which achieved record prices for the suburb.</p>

<p>He is now delivering <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, a 38-apartment development on Boundary Street that is currently selling, and has no plans to leave the precinct anytime soon. S&amp;S Projects has also lodged plans for its fifth Rainbow Bay development, an 88-apartment project on Boundary Street featuring a strong wellness focus.</p>

<p><em>Read more:&nbsp;<a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">First look: S&amp;S Projects proposes 88-apartment wellness tower at Coolangatta's Boundary Street</a></em></p>

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Joel Robinson

Who's who of buyers revealed as Esprit Rainbow Bay settles

<p>Nature Based Cities (NBC), the not-for-profit organisation focused on improving biodiversity and nature outcomes in urban development, has launched its latest industry design guidelines and accreditation framework, this time targeting precinct-scale residential communities.</p>

<p>The move extends NBC’s influence beyond its initial focus on medium and high-density residential developments. Several projects have already achieved NBC accreditation since the launch of its Medium &amp; High-Density Residential Guidelines in early 2025.</p>

<p>The expansion into masterplanned communities and new residential precincts reflects the growing need for stronger nature-positive benchmarks as Australia’s outer suburban growth corridors continue to expand at pace.</p>

<p>Paul Hameister OAM, NBC Founder and the Executive Chairman of Melbourne developer Hamton who itself leans heavily into nature and biodiversity in its developments, says the&nbsp;nature-first approach to mitigate the effects of climate change has become standard in other parts of the world such as the UK, but Australia is lagging.&nbsp;Australia’s environmentally sustainable design (ESD) rating tools have no minimum mandatory requirements for living landscapes.</p>

<p>“We’ve always wanted to do more, and we know other developers who want to do more, but the ESD rating tools just aren’t there,” Hameister says. “In Australia, you can have a five-green-star rated building that’s concrete and glass with not a blade of grass.<br />
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“The focus is on reducing emissions, which is laudable, but there hasn’t been enough attention paid to protecting and re-establishing nature. We need both for the health of the environment and for communities.”</p>

<p>He says that having now&nbsp;made good progress in supporting developers of medium and high-density residential projects, NBC is now looking to bolster better nature-based decision-making and recognise developers of greenfield projects in the outer ring and large inner-ring brownfield precincts, who want to champion nature and living landscape as a defining feature.</p>

<p>Since 2022, the not-for-profit has sought to remove the roadblocks preventing developers from incorporating nature and living landscapes into their projects, shifting the conversation from the reduction of emissions and grey infrastructure, toward recognising nature as an essential infrastructure.</p>

<p>The New Communities Design Guidelines and Scorecard arm developers with the tools needed to deliver a nature positive outcome for their new communities. Intended to be adopted at the outset of the planning process, the guidelines are designed to help create communities that are cooler, healthier and more resilient while also enhancing social wellbeing and long-term economic value.&nbsp;</p>

<p>New Communities developers seeking accreditation will be independently assessed across a range of key criteria including ecology, tree canopy, biodiversity, and walkability. Once the masterplan is complete and submitted for approval, the scorecard is formalised based on proposed outcomes. Projects that meet the NBC criteria will receive either Commended or Exemplary accreditation outcomes, creating a clear benchmark for nature-positive new communities in Australia.&nbsp;</p>

<p>Janis Fischer, Director at Tract and NBC Advisory Council member, said the development of new communities in our suburbs can have a substantial impact on nature and biodiversity.</p>

<p>"By incorporating nature-based design principles at the inception of a project, developers and their design teams can achieve nature positive outcomes that are good for both people and the planet.’’&nbsp;</p>

<p>NBC accredited New Community projects will gain access to NBC branding and marketing tools to help communicate their nature-based credentials to purchasers and the broader market.&nbsp;</p>


Nature Based Cities: A new Australian benchmark for developing nature-positive new communities

<p>Apartment buildings are increasingly being designed around how people actually live day to day, not just how they want a building to look.</p>

<p>For buyers, that shift is showing up in practical inclusions that respond to changing habits. Work-from-home spaces, EV charging, wellness amenities, secure bike storage and parcel management are becoming part of the broader apartment conversation, reflecting a move toward buildings that reduce friction in everyday life.</p>

<p>Online shopping has become one of the clearest examples of that change.</p>

<p>Australians spent a record $82.6 billion online in 2025, with nearly one in four retail dollars now spent online. That has made parcel delivery a regular part of apartment living, rather than an occasional inconvenience.</p>

<p>For apartment residents, however, the delivery process can be less straightforward than it is for detached homes. Parcels may be left in lobbies, redirected to Post Offices, missed entirely, or placed under the responsibility of building managers and concierge teams.</p>

<p>That is why secure parcel infrastructure is increasingly being considered alongside more familiar apartment amenities.</p>

<p><iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/-VjjLwoViX0?si=A3k7ws9NX35Uac7_" title="YouTube video player" width="560"></iframe></p>

<p>Australia Post Parcel Lockers offer one way to address the issue. When a parcel arrives, residents receive a notification through the AusPost app or SMS, then collect it using a QR code or one-time PIN. The parcel is kept secure, accessible and removed from common areas.</p>

<p>The broader Parcel Locker network now includes more than 1,500 locations across Australia, positioned at Post Offices, shopping centres, supermarkets, transport hubs and other accessible locations.</p>

<p>For new apartment projects, the relevance is clear. A building’s amenity offering is no longer only about lifestyle spaces, but also about convenience, security and functionality.</p>

<p>As buyer expectations evolve, secure parcel delivery is becoming part of the same design conversation as flexible working, sustainable transport and resident wellbeing.</p>

<p>It is one less thing for residents to worry about, and another example of apartment design adapting to the way Australians now live.</p>


Apartment design is adapting to the way Australians shop

<p>While school holidays and trips to Europe tend to define the winter property market, there's been no cold snap at <a href="https://www.apartments.com.au/new-apartments/the-walden-north-sydney-177-walker-street-north-sydney-nsw-2060">The Walden</a> in North Sydney.</p>

<p>Developer-builder&nbsp;<a href="https://www.apartments.com.au/developers/aland">ALAND</a> sold more than $35 million worth of apartments throughout June, including a $6.8 million apartment that now ranks among the highest apartment sales ever recorded in North Sydney.</p>

<p>SRM Residential agent Ben Stewart said buyer demand throughout June reflected a mix of improving market confidence and longer-term thinking from owner-occupiers.</p>

<p>"We're seeing strong demand from owner-occupiers who are taking a longer-term view," Stewart said.</p>

<p>"Many recognise the opportunity to secure an apartment in an iconic building and premium location while values remain attractive. They may initially lease the property, but the intention is to eventually move in themselves, rather than purchasing purely as an investment."</p>

<p>[smartcode_project:default project_id=134323 project_image_fid=367129]</p>

<p>Located at 177 Walker Street, The Walden will deliver 161 one, two, three and four-bedroom residences across a 30-storey tower designed by Rothelowman. Every apartment occupies a corner position, maximising natural light, cross ventilation and views across Sydney Harbour, the Opera House, Sydney Heads and the northern districts.</p>

<p>Rather than a traditional balcony, the residences feature winter gardens that seamlessly extend the open plan living areas, creating versatile spaces for relaxing or entertaining throughout the year. Floor-to-ceiling glazing draws in natural light while showcasing sweeping views from the building's elevated Walker Street position.</p>

<p>Every apartment features high-end Calacatta marble, bespoke joinery, and fully integrated appliances.</p>

<p>The larger residences have been planned with distinct entertaining and private zones, with many master suites positioned on corners to capture natural light and harbour views. Walk-in dressing rooms, freestanding baths and refined stone finishes reinforce the house-like feel that has resonated with downsizers and owner-occupiers.</p>

<p>[smartcode_project:default project_id=134323 project_image_fid=6393]</p>

<p>Rothelowman Principal Ben Pomroy said the project was designed to make the most of its unique position overlooking the harbour.</p>

<p>"The Walden is a celebration of all things beautiful, curated for those who expect nothing less than exceptional," Pomroy says.</p>

<p>"Meticulously designed entertaining spaces and light-filled living areas that capitalise on capturing the natural beauty of Sydney's iconic harbour."</p>

<p>Residents will also have exclusive access to The Pavilion, a dedicated amenity building featuring a rooftop pool, wellness studio, gymnasium, sauna, concierge service, residents' lounge, private dining spaces and work-from-home facilities.</p>

<p>[smartcode_project:default project_id=134323 project_image_fid=6402]</p>

<p>The project marks ALAND's first major luxury apartment development in Sydney's inner-city market after more than two decades delivering residential communities across Greater Sydney.</p>

<p>Founder and CEO Andrew Hrsto previously said the rarity of the Walker Street site made it an opportunity the company could not overlook.</p>

<p>"This is a rare opportunity to bring a truly exceptional project to life in one of Sydney's most iconic locations, and to showcase our craftsmanship and design expertise at a world-class level," Hrsto said.</p>

<p>[smartcode_project:default project_id=134323 project_image_fid=6383]</p>

<p>The Walden has been introduced to the market at a time when demand for living in North Sydney is at an all-time high. Billions of dollars have been invested in infrastructure, including the recently opened Victoria Cross Metro station, located just 300 metres from The Walden, providing residents with direct access to the Sydney CBD in just minutes.</p>

<p>Private investment has also transformed the area through the arrival of new retail and dining destinations, elevating the lifestyle offering in what was once considered primarily a commercial precinct rather than an aspirational residential address.</p>

<p>The Walden is currently under construction and is scheduled for completion in 2028.</p>

<p>[smartcode_project_cta:default project_id=134323]</p>


ALAND records $35 million in sales in North Sydney as The Walden bucks quiet winter selling season

<p>The long-awaited redevelopment of the former Eastlakes Shopping Centre site has reached a major milestone, with Conquest's plans for a new mixed-use precinct officially placed on public exhibition.</p>

<p>The State Significant Development Application would transform the 1.7-hectare site at <a href="https://www.apartments.com.au/new-apartments/19a-evans-avenue-eastlakes-nsw-2018">19A Evans Avenue</a> into one of Sydney's largest urban renewal projects, delivering 736 apartments above a new shopping centre anchored by Woolworths, alongside specialty retail, dining, commercial space and new public open spaces.</p>

<p>The public exhibition marks the next chapter for the project after <a href="https://www.apartments.com.au/developers/conquest">Conquest</a> acquired the stalled Stage Two development from Crown Group, who completed the first stage across the road prior to their voluntary liquidation.</p>

<p><img alt="First look: Conquest unveils plans for 736-home Eastlakes Shopping Centre redevelopment" data-entity-type="file" data-entity-uuid="5fca22c5-d1ed-4e2c-8801-03f7df1eafc8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/eastland%20podium.png?VersionId=uomwr41nF8CmLUZRDcu3mHQechlbxucS" /></p>

<p>&nbsp;</p>

<p>Designed by DKO Architecture, the proposal comprises four residential buildings ranging from 14 to 18 storeys above a two-level retail podium. The development would deliver 736 apartments, including 74 affordable homes, 215 Build-to-Rent apartments and 521 market residences. Provision has also been made for dual-key apartments, which could increase the total number of dwellings to 877.</p>

<p>At ground level, the shopping centre has been designed as the suburb's new meeting place, anchored by a full-line Woolworths and complemented by a curated mix of fresh food retailers, cafés, restaurants, health services and everyday convenience shopping. Generous pedestrian links and landscaped public spaces will connect the retail precinct through to Jack Mundey Reserve, creating a more walkable and connected neighbourhood.</p>

<p>Conquest CEO Michael Akkawi said the redevelopment was about far more than replacing a shopping centre.</p>

<p>"Eastlakes has been overlooked for too long, and this is the community’s moment. We are building a shopping centre and homes, a genuine heart for the suburb, and we genuinely want locals to help shape it."</p>

<p>"We enrich communities through the creation of homes, places, and experiences designed for life, built to last, and owner for generations. That starts with listening, so we warmly encourage everyone with a connection to Eastlakes to view the plans and share their thoughts."</p>

<p><img alt="First look: Conquest unveils plans for 736-home Eastlakes Shopping Centre redevelopment" data-entity-type="file" data-entity-uuid="22f6fb20-54fb-4bd7-8a92-48fafdd00608" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/eastland.png?VersionId=cugp7s9hrMHGJJdYzkeAkrFoQgnF4GXf" /></p>

<p>DKO said the design had been shaped by the site's landscape setting and surrounding open space.</p>

<p>"Our vision for the site embraces its unique Bidjigal identity by blending the residential living with generous landscaping and a material palette inspired by the Bidjigal locality, and celebrating the panoramic views to Botany Bay and the wetlands reserves."</p>

<p>"Taking cues from Country, we seek to harmonise built form with the landscape and lightly touch the earth. By reconnecting, retaining and regenerating existing ecology, and weaving in natural elements, we can deepen our connection to Country."</p>

<p>The landscape strategy extends across the podium and rooftops, incorporating communal gardens, children's play areas, lawns, community gardens, family gathering spaces and extensive tree planting. New landscaped links will also strengthen the connection between the precinct and Jack Mundey Reserve, while publicly accessible open spaces have been integrated throughout the development.</p>

<p>The proposal builds on Conquest's broader placemaking strategy for the site. Through an ongoing partnership, local artist Joe Rashbrook has been appointed Urban Art Curator, working alongside young residents to transform the project's site hoardings into a public art gallery that allows the community to engage with the redevelopment before construction is complete.</p>

<p>Conquest has rapidly expanded its development pipeline since acquiring the Eastlakes site, with more than $6 billion worth of mixed-use projects now in planning across Sydney, including Stanmore, Castlecrag and Waterloo.</p>


Conquest CEO Michael Akkawi said the redevelopment was about far more than replacing a shopping centre.

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