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Wollongong has had another weak auction result.
With a clearance rate of just 48%, over half of the 40 properties taken to auction were passed in.
This is in line with Wollongong's recent performances as two weeks ago there was an even lower clearance rate of 34.5% on 41 total properties. 
<img src="https://www.urban.com.au/images/2018/8/21/Wollongong%20weakness.JPG" alt="">
However one home that succeeded at auction was <a href="https://www.realestate.com.au/sold/property-house-nsw-mangerton-128892022" target="_blank">21 Byarong Avenue, Mangerton</a> (pictured above), a four bedroom two bathroom recently renovated house.
The Mangerton dwelling sold for $957,000 this Saturday through Belle Property.
The 588 square metre holding last sold in 2015 for $625,000.
<img src="https://www.urban.com.au/images/2018/8/21/Woll%202.JPG" alt="">
Following the trend of passing in at auction is 10a Love Street, a three bedroom two bathroom home (pictured above).
Close to beaches and cafes the home comes with an ocean view and an asking price of $819,000.
The dwelling was last listed in 2015 for 100 days after which it was taken off the market.
<img src="https://www.urban.com.au/images/2018/8/21/Woll%203.JPG" alt="">
Another home that failed to sell is an original fifties-era cottage bordering Towradgi Creek which had a price range of $890,000 to $960,000.
Set on a 518 square metre block the <a href="https://www.belleproperty.com/listings/678933/59-lake-parade-east-corrimal-nsw-2518/" target="_blank">59 Lack Parade, East Corrimal</a> home (pictured above) is a near public transport options as well as the local school.
The home has only been on the market for 35 days and has never sold before.
<img src="https://www.urban.com.au/images/2018/8/21/Woll%204.JPG" alt="">
A third house in Wollongong that failed to sell is <a href="https://www.belleproperty.com/listings/675726/52-edgar-street-towradgi-nsw-2518/" target="_blank">52 Edgar Street, Towradgi</a>.
The four bedroom two bathroom home (pictured above) comes equipped with both a study and two parking spaces.
The dwelling's current price guide is holding at $1.5 million - $1.6 million.
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j.ballantyne1990-6AQqhLzZaK

Wollongong's weakness at auction continues 

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GUEST OBSERVATION
The New South Wales Rural Fire Service declared the earliest total fire bans in its history this week. The entire state was declared to be in drought on the same day.
The combination of winter drought and hot, dry weather has made dangerous fires increasingly likely.
Already this week two fires on the south coast have escaped containment lines and destroyed houses. The weather during these fires was 6℃ warmer than the August average, dry and extremely windy. The wind speed peaked at 104 kilometres an hour in Bega and 85km/h in Nowra, two towns close to where fires broke out.
Under these conditions, bushfires will spread quickly, produce large numbers of embers and are hard to stop.
Our fire seasons now start earlier and last longer. This means we’re increasingly likely to see repeats of historically large fires threatening residential areas.
Fire seasons are longer
Current dry conditions are reflected in the maps of live fuel moisture produced by Dr Rachael Nolan of Western Sydney University.
<a href="https://images.theconversation.com/files/232411/original/file-20180816-165961-10g0j70.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/232411/original/file-20180816-165961-10g0j70.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" alt=""></a>
<a class="source" href="https://agupubs.onlinelibrary.wiley.com/doi/full/10.1002/2016GL068614" target="_blank">Nolan R.H., Boer M.M., de Dios V.R., Caccamo G., Bradstock R.A. (2016), Large-scale, dynamic transformations in fuel moisture drive wildfire activity across southeastern Australia. Geophysical Research Letters 43, 4229-4238.</a>
This method tracks the weekly moisture content of the forests in southern Australia, as observed by NASA’s MODIS satellite. The latest map shows a patchy distribution of dry areas and a drying trend over recent weeks.
It looks like NSW’s fire season has already started, and it’s likely to be bad. Last year’s fire season also extended well into autumn, with serious bushfires burning in mid-April.
Fire agencies usually enjoy a six-month break from bushfires between April and September, but this year they had only three months’ respite.
This reflects evidence of a trend toward more extreme fire weather over the past 30 years, and lengthening fire seasons.
This problem is being keenly felt in western United States, where fire agencies have warned that the fire season now lasts all year round. Not only that, there is clear evidence climate change is increasing fire activity in the United States; the record for the largest fire in California history has been broken two years in a row.
Alarming precedents
The most damaging fire season for NSW in the past 30 years was in October 2013 when the Linksview fire destroyed 200 houses in the Blue Mountains.
The build-up to that season was eerily similar to this year, with a winter drought and bushfires in September, but the moisture maps show that the forests are drier now than at the same time in 2013, and we have already seen serious bushfires in August.
As we move into September and October, the weather will warm, which means any remaining moisture in the ground and plants will evaporate even faster than at present, and fires will be more intense and spread faster. The only thing that will reduce the risk is soaking rain of at least 100mm.
Whether or not that will occur in the next two months is almost impossible to predict. At the moment it seems unlikely. The Bureau of Meteorology’s latest seasonal forecast, issued on August 16, considers it likely that dry conditions will persist for the next three months.
The heightened risk of bushfire this season should be a wake-up call for residents in bushfire-prone areas. Most people in really risky areas such as the Blue Mountains are well prepared, but many people who are a little more removed from the forests are not aware of the risk.
For example, many residents of Wollongong probably don’t know this October is the 50th anniversary of the great 1968 fires that swept down the Illawarra Escarpment into the suburbs of Figtree, Bulli, Austinmer and others.
<a href="https://images.theconversation.com/files/232412/original/file-20180817-165955-1f2bhyl.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/232412/original/file-20180817-165955-1f2bhyl.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
 The footprint of the 1968 Illawarra fires, which burned through residential areas.
If the same footprint of fire were to occur again, some 5,000 houses would be affected. The present indicators suggest a repeat of this event is more likely than at any time for decades.
Residents need to prepare a bushfire survival plan, which includes a decision on whether to stay and defend or to leave as soon as they learn about a nearby bushfire.
Current research at University of Wollongong suggests that the biggest influence on the risk of house loss during a bushfire is the actions that the residents themselves take. This includes ensuring that natural and man-made fuels are kept to a minimum in the garden, especially close to the house, and also defending the house from spot-fires caused by embers.
The Rural Fire Service has a wealth of advice for preparing for bushfires on its <a href="https://www.rfs.nsw.gov.au/plan-and-prepare" target="_blank">website</a>.

We’re look at a torrid upcoming fire season, dependent on the vagaries of the Australian climate. Either way, now is the time for people to brace themselves and get prepared.
Owen Price<a href="https://theconversation.com/profiles/owen-price-105069"></a>, Senior Research Fellow, Centre for Environmental Risk Management of Bushfires, University of Wollongong
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/drought-wind-and-heat-when-fire-seasons-start-earlier-and-last-longer-101663" target="_blank">original article</a>.
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Drought, wind and heat: when fire seasons start earlier and last longer

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The Gold Coast unit market is becoming more solid and steady, according to Knight Frank.
Chris Litfin, Knight Frank project marketing head, said there had been changes in the market in recent years, including a move towards smaller developments.
This was adding less supply and with buyers taking more time to make decisions had led to more stability.
She says: "previous property cycles were generally centred around major developments with many hundreds of apartments in single buildings – as an example, Soul had around 300, Oracle had around 500 and Circle on Cavill delivered over 600."
"But generally the buildings being built at the moment are a lot smaller than they used to be. Some have a few hundred apartments, but most are around 100 or less."
An example she gave was Broadbeach, in which only two of the seven apartment developments – Qube (pictured below) and Signature - have over 200 apartments, with the remaining Broadbeach projects – Vue, Koko, Ivy95, Elysian and Opus - delivering around 100 apartments or less.
<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/2018/8/16/QUBE.jpg" alt="">.
"Now there is less total supply across seven developments in Broadbeach, for instance, than there was across a few developments in the late 2000s, and it’s normal for buyers to take between six weeks and two months to make a decision due to the added choice, rather than the few weeks they took back then."
"They’re comparing these developments carefully, looking at the facilities on offer and the location, and doing thorough research before buying."
Litfin said overall, the Gold Coast residential apartment market was now much more stable, with two of the stabilising factors being the moderation in supply and region’s growth in population, which has resulted in steady long-term demand.
In 1960 the Gold Coast had a population of 50,000 and now it’s more than 600,000. 
"The older population on the Gold Coast is growing significantly, which is only going to add to the demand for apartments," Liftin concluded
The Australian Bureau of Statistics data from the 2016 Census shows the over-65 demographic made up around 16% of the total population, but by 2036 the population is expected to double, accounting for over 20% of the total.
<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/3_StockBreakouts/gold-coast-breakout-219677864.jpg" alt="">
The latest Knight Frank Australian Residential Development Review 2018 also found apartment stock on the Gold Coast is being built to cater more for owner-occupiers, with a move towards more bedrooms.
It found two-bedroom apartments have been favoured in developments built between 2014 and 2017, making up 43% of total stock, followed by one-bedroom apartments (39%), three-bedroom apartments (15%) and studios (3%).
But it further found that of the buildings under construction there is a trend towards less one-bed apartments being built – making up only 25% of stock - in favour of more two-beds (49%), three-beds (17%) and studios (4%). Four-bedroom apartments are expected to grow to a share of 4% of all new completions in 2018-21.
While the Gold Coast apartment market is seeing strong activity from downsizers, Litfin says, "it's only a matter of time before investors – particularly those from interstate - started becoming more active".
The apartment market had the highest gross rental yield for major cities along Australia’s East Coast of 5.8%, according to figures from Australian Property Monitors, and vacancy rates were the lowest in the country, sitting around 1%, according to REIQ figures.
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Forget boom and bust as Gold Coast apartment market stabilises: Knight Frank

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Solstice Media has committed to a new office sublease in Adelaide CBD, in a move to be closer to its diverse advertising and editorial client base.
The South Australian publishing company, which collates InDaily, The Lead, The Forager and The Southern Cross took over 135 square metres of office space on level three at 169 Pirie Street earlier this month.
Savills Australia’s Adam Hartley negotiated the two-year lease term on behalf of sub-lessor Lucid Consulting Engineers at a rate of circa $420 per square metre, per annum.  
Hartley said the tenant wanted to be closer to the heart of the Adelaide CBD, which made the Hindmarsh Square location a suitable option. 
“Solstice Media was also able to take advantage of the existing fit-out, which was improved to suit their occupancy," he said.
“A recent upgrade to the property has provided A-grade bathrooms and new end-of-trip facilities.”
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Publishing company signs lease on new chapter in Adelaide CBD 

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GUEST OBSERVATION
Yet again this week, the Hayne Royal Commission has brought disturbing news of misconduct toward customers of our largest financial institutions. This time super accounts have been plundered for the benefit of shareholders.
Recent research from economists at the United States Federal Reserve suggests this problem is not unique to Australia. If true, this supports the argument that larger financial institutions should be broken up or face more regulatory scrutiny.
The researchers found that larger banking organisations are more likely than their smaller peers to experience “operational losses”. And by far the most significant category (accounting for a massive 79%) within operational losses was “Clients, Products and Business Practices”.
This category captures losses from “an unintentional or negligent failure to meet a professional obligation to specific clients, or from the nature or design of a product”. When a bank is caught out engaging in misconduct toward customers, it is required to make good to customers – the so-called process of remediation.
It’s a category that perfectly captures the issues under review in the royal commission. Operational losses also include things like fraud, damage to physical assets and system failures.
In recent weeks we have heard a lot about Australian banks having to compensate customers. The cost to the bank is, however, far greater than the dollar value received by customers.
The administrative costs of such programs are significant, and then there are legal costs and regulatory fines.
While no-one feels sorry for banks having to suffer the consequences of their misconduct, regulators monitor these losses due to the possibility that they may increase the chance of bank failure.
Another aspect of the Federal Reserve’s study is the size of the losses. One example is where the five largest mortgage servicers in the United States reached a US$25 billion settlement with the US government relating to improper mortgage loan servicing and foreclosure fraud.
In another example, a major US bank holding company paid out over US$13 billion for mis-selling risky mortgages prior to the 2008 crisis. Settlements of this size have simply not occurred in Australia.
Why larger banks?
One might assume that economies of scale – reduced costs per unit as output increases – also apply to risk management. The larger the organisation, the more likely it has invested in high-quality, robust risk-management systems and staff. If this holds, then a large bank should manage risk more efficiently than a smaller one.
The possibility of unexpected operational losses should then be reduced. Larger financial institutions might also attract greater regulatory scrutiny, which might help to improve risk-management practices and reduce losses.
But the reverse seems to be true, based on the analysis of American banks from 2001-2016.
For every 1% increase in size (as measured by total assets) there is a 1.2% increase in operational losses. In other words, banks experience diseconomies of scale. And this is particularly driven by the category of Clients, Products and Business Practices.
In this category losses accelerate even faster with the size of the bank.
This could be the result of increased complexity in large financial institutions, making risk management more difficult rather than less. As firms grow in size and complexity, it apparently becomes increasingly challenging for senior executives and directors to provide adequate oversight.
This would support the argument that some financial institutions are simply “too big to manage” as well as “too big to fail”. If bigger financial institutions produce worse outcomes for customers, there is an argument for breaking up larger institutions or intensifying regulatory scrutiny.
Is the same thing happening in Australia as in the United States? The case studies presented by the royal commission suggest it could be, but it’s difficult for researchers to know exactly.
Australian banks are not required to publicly disclose comprehensive data on operational losses. APRA may have access to such information, but any analysis the regulator may have done of it is not in the public domain.

Perhaps this issue is something Commissioner Hayne should explore.
Elizabeth Sheedy, Associate Professor - Financial Risk Management, Macquarie University
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/research-suggests-bigger-banks-are-worse-for-customers-101371" target="_blank">original article</a>.
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Research suggests bigger banks are worse for customers: Elizabeth Sheedy

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GUEST OBSERVATION
Melbourne lost its “most liveable city” title and is confronting being runner-up to Vienna after seven years at the top. These rankings are based on The Economist Intelligence Unit’s Global Liveability Index, which “assesses which locations around the world provide the best or the worst living conditions”.
But the tool was actually designed to help companies decide how much “hardship” allowance they would need to pay employees who relocate. So, The Economist suggests that none of the top cities – including Melbourne, Vienna and other Australian cities – need a hardship allowance at all. But it recommends a 20% allowance for cities at the bottom of the ranking like Port Moresby, Tripoli and Karachi.
Despite the hype, the Global Liveability Index focuses on things that matter to expats, not citizens. This is different to what is important to the average person living in Vienna, Melbourne or any other city – such as housing affordability, walkability, access to public transport and education, and the number of bike paths.
What the index measures
The Economist’s Global Liveability Index uses 30 indicators to measure five categories of liveability: stability (safety), health care, culture and environment, education, and infrastructure. And 26 of the indicators are based on the “judgement of in-house expert country analysts and a field correspondent based in each city”.
These unknown critics score the performance of a city as acceptable, tolerable, uncomfortable, undesirable or intolerable.
There is no freely available information about the qualifications of these judges, why the categories were chosen to represent liveability, or how indicators in a category are weighted. While the summary report is free, a more detailed report will set you back US$620 and the actual data sets a smooth US$9,210, which we didn’t purchase. Our comments are based on the freely available information.
It appears that, beyond the well-designed league tables and flurry of media attention, The Economist’s Global Liveability Index is a mostly subjective rating with opaque methods for comparing cities.
Take for example the stability category. This includes crime, terror attacks and civil unrest, and makes up 25% of the total liveability score. Out of 100, Melbourne, Sydney and Adelaide are judged to be five points less “stable” than Vienna, Osaka and Toronto. But there is no information on how The Economist’s experts came up with this conclusion.
Some of the indicators could be objectively measured, such as the prevalence of violent and petty crime, but they are still given a rating by The Economist’s experts. It isn’t clear what types of crime are included in this decision or how they are weighted.
Two indicators rate the availability and quality of private education, but there are no equivalent indicators for public education. Most students (65.6%) in Australia are enrolled in government schools. So, for the average family in Australia the availability and quality of the public education system is more important than private.
And, most importantly, the index seems to miss the things that affect the lived experience of city residents. Although housing “quality” and the availability and quality of private education are included, housing affordability, traffic congestion, walkability and lack of public transport, bike paths and essential services don’t appear to be in the index.
Yet these are some of the real problems facing Australians.
What it doesn’t measure
Both Sydney and Melbourne got full points in the “infrastructure” category. This includes the quality of public transport and roads, international links and quality of water provision and telecommunications.
While this may be true for inner-city residents, our research has found that some suburbs – particularly those on the urban fringe – are less lucky. Public transport in particular is often missing in outer suburbs. The index doesn’t consider how liveability is distributed across a city and if some people are missing out.
It also doesn’t take into account the environmental sustainability of cities. One study, which compared the liveability score of cities with their ecological footprint, found that Vienna’s is almost half that of Sydney, Melbourne and Brisbane. However, none of these cities was found to be sustainable.
Better measures of liveability
If we really want to create liveable cities that promote the quality of life of citizens, we need transparent and objective measurements.
Our team has previously defined the key ingredients of a liveable city. These include safety, environmental sustainability and affordable and diverse housing linked by public transport, walking and cycling infrastructure to employment and the amenities needed for daily living.
These measures are based on our research of what affects the health and well-being of communities.

Chasing the hollow crown of the Global Liveability Index will not make Melbourne or any other city a better place to live. Instead, all levels of government should focus on creating and implementing policies that improve the liveability of cities for their residents.
Julianna Rozek, Research Officer, Healthy Liveable Cities Group, Centre for Urban Research, RMIT University
Billie Giles-Corti, Director, Urban Futures Enabling Capability Platform and Director, Healthy Liveable Cities Group, RMIT University
Lucy Gunn, Research Fellow, Centre for Urban Research, RMIT University
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/the-worlds-most-liveable-city-title-isnt-a-measure-of-the-things-most-of-us-actually-care-about-101525" target="_blank">original article</a>.
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The ‘most liveable city’ title doesn't mean what you probably think it does

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Singapore-based Roxy Pacific and Sydney-based developer Phillip George have acquired a 8,450 square metre Revesby warehouse site.
The Bowermans Furniture site at 34-36 Mavis Street was bought from BN Revesby PT Pty Ltd for $9 million.
Roxy Pacific and George plan to develop the site as a combination of light industrial warehouses and self-storage units.
They will likely range in size from 25 square metres to 200 square metres, to accommodate a range of businesses under a strata scheme.
"The Revesby site is well located within close proximity to the M5 and we will be developing the property in a bespoke way to accommodate a wide range of businesses with versatile and dynamic spaces," said George.  
Having sold Mrs Crocket’s in 2004, George turned his attention to being a property owner and developer with a wide range of residential, industrial and commercial projects worth more than $750 million across Australia.
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Developers acquire Revesby site for redevelopment as strata business park

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Global real estate investment manager TH Real Estate has appointed Rick Marston as head of asset management in Australia.
Marston will be responsible for asset management strategies and extracting value from real estate investments that TH Real Estate acquires on behalf of its Australian funds and private account clients.
He brings over 15 years’ experience working in senior positions across the real estate sector, including roles at Grosvenor Estates in London, Dexus and AMP Capital in Sydney, and most recently as associate director at Invesco Asset Management.
TH Real Estate, an affiliate of Nuveen, the investment manager of TIAA, is one of the largest real estate investment managers in the world with circa US$114 billion in assets under management globally.
In Australia, TH Real Estate’s core holdings include a half stake in 101 Miller Street and the Greenwood Plaza in North Sydney, as well as investments in Myer Bourke Street in Melbourne, and a 75% interest in Mount Ommaney Shopping Centre in Brisbane.
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TH Real Estate appoints Rick Marston to key role

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The launch of 32 strata commercial suites at Mirvac’s St Leonards Square mixed-use development on the weekend saw some 85% sold within hours of their release.
Strata suites ranged from 57 square metres to 210 square metres with an average $9,500 per square metre achieved on the day. 
The highest price paid among the 27 sales was in excess of $1.8 million.
Medical practitioners were most prominent amongst buyers with many citing a lack of strata office space available to purchase.
Oral and maxillo facial surgeon Dr Adit Bahl had been trying to find suitable commercial premises for some time before he finally purchased at St Leonards Square.
The commercial strata sales result follows the success of residential sales at St Leonards Square, where the two residential towers achieved more than 70% pre-sales at their 2016 launch and are currently 99% sold, ahead of completion in late 2019.
Several purchasers at the weekend acquired multiple lots.
Some intend to consolidate the space to form larger floorplates.
A decade long strata office scarcity reportedly fuelled demand for St Leonards Square, along with its proximity to the future Crows Nest Metro station and the Royal North Shore Hospital medical precinct.
Virgin Active earlier this year secured 1,150 square metres at St Leonards Square, taking the entire first floor in one of the two towers, plus a ground floor space to serve as a concierge and entry directly off the Pacific Highway, helping to integrate commercial and retail uses.
Mark Levy of marketing design and production marketing company What To Do canvassed his staff before he purchased.
“There needs to be amenity; you can’t have your business in the middle of nowhere when most of your staff are under 35,” he said.
Financial planner Jason Abrahams of Critique Private Clients ended his five-year search for new office space, acquiring a 192 square metres suite.
“There is plenty of space for lease but we haven’t been able to find anything decent for sale in St Leonards,” said Abrahams, who will relocate from his current office next door.
“We like the St Leonards location; it’seasier for clients to get to us on the north side than into the city.”
<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/2018/8/20/E07_Lobby_Exterior.jpg" alt="">
“We have the train already and the Metro going in across the road. I’ve been here 10 years and I would not want to go anywhere else. It is an area that is only going to get more exciting. With the public transport and retailgoing into St Leonards Square, that adds to the work experience for our staff.”
<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/2018/8/20/I01_Foyer.jpg" alt="">
One couple, George and Robyn Nori, will not only be moving their business, How Strategy Group, to St Leonards Square on completion next year but will also be living there.
With their three bedroom apartment which they purchased last year on Level 15 and their workplace on Level 3, they will enjoy a completely commute-free lifestyle.
St Leonards Square commercial is being sold by Mirvac in conjunction with Knight Frank North Sydney.
<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/2018/8/20/I02_Office.jpg" alt="">
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Mirvac achieves 85% sales at St Leonards Square strata office launch

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Two properties in Molendinar on the Gold Coast, known in the automotive industry as ‘The Lion Park’, are for lease as Surfers City Holden is set to relocate to a new showroom.
The properties are positioned on one of the northern Gold Coast’s busiest intersections, on the corner of Southport Nerang Road and Olsen Avenue, across from Ashmore City Shopping Centre.
Both auto-dealership properties come with bespoke showrooms, workshop areas, ample storage facilities, offices and staff amenities including break and training rooms.
The 333 Southport Nerang Road offering is the smaller option of the two offering a gross lettable area of 2,034 square metres with ample onsite parking and car display yard.
The 566 Olsen Avenue property is positioned on the corner with 3,008 square metres of gross lettable area across the showroom, offices and workshop.
Incoming tenants have the option to acquire both properties or split the two for a smaller offering.
Knight Frank’s Tanaka Jabangwe said the properties have been auto-dealership sites for over 30 years.
Offers close October 4.
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Former Holden dealership sites on the Gold Coast up for lease

Walk past a new apartment development promoting its sustainability credentials and it's easy to picture rooftop gardens, mature trees, landscaped courtyards and residents surrounded by nature.

But in many cases, that's not actually what those sustainability ratings guarantee.

Australia's leading environmental rating tools have played a significant role in improving the energy efficiency and environmental performance of buildings. Yet despite their focus on reducing emissions, many don't require developers to include trees, biodiversity or meaningful green space.

In other words, a building can achieve one of the country's highest sustainability ratings while containing little more than concrete, glass and hard landscaping.

That disconnect has led to the emergence of a new movement across Australia's property industry: nature-based cities.

The concept goes beyond designing buildings that consume less energy. Instead, it encourages developers to treat nature as essential infrastructure, integrating biodiversity, tree canopy, living landscapes and green spaces into projects from the earliest stages of planning.

Research has consistently linked access to nature with better physical and mental health, cooler neighbourhoods, improved biodiversity, stronger climate resilience and more connected communities. As Australia's cities continue to become denser, advocates say those outcomes should be considered just as important as energy efficiency.

Nature Based Cities (NBC) was established in 2022 to help accelerate that shift.

Founded by Hamton Executive Chairman Paul Hameister OAM, the not-for-profit was created after research highlighted a significant gap in Australia's sustainability framework. While existing environmental rating tools rewarded energy performance and emissions reductions, they placed little emphasis on the inclusion of living landscapes.

"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.

"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."

Since its launch, NBC has developed independent design guidelines and accreditation frameworks that encourage developers to prioritise ecology, biodiversity, tree canopy, walkability and living landscapes alongside traditional sustainability measures. The organisation first focused on medium and high-density residential developments before recently expanding into precinct-scale communities and masterplanned neighbourhoods.

Jan Talacko, founder of sustainability consultancy Ark Resources and a member of the Nature Based Cities Advisory Council, says the initiative addresses an area that has largely been overlooked by the property industry.

"Throughout my 25 years of working collaboratively with all stakeholders in the property sector, I've always favoured a pragmatic approach to sustainable design which encourages initiatives that not only meet environmental expectations but also improve amenity," Talacko says.

"Whilst we are making steady progress in relation to energy and carbon emissions from buildings, there has been much less emphasis on encouraging biodiversity and tackling the urban heat island effect.

"The Nature Based Cities initiative responds to a gap in the suite of tools currently used by the property development sector, which don't provide sufficient incentive, or recognition, for the integration of landscaping and greenery."

For apartment buyers, the shift is also changing the questions worth asking.

Rather than assuming a sustainable building will naturally include abundant green space, buyers are increasingly being encouraged to look beyond environmental ratings and ask what nature is actually being delivered. How much tree canopy will the development create? Has biodiversity been considered? Are landscaped spaces designed for people as well as appearance?

As Australia's cities continue to grow upwards and outwards, the next generation of sustainability may not simply be measured by lower emissions, but by how successfully developments bring nature back into everyday urban life.

Joel Robinson

What does it really mean for a building to be 'green'?

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.

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.

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.

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.

<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" />

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.

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.

Joining them is Rip Curl founder Doug Warbrick, whose company helped shape Australia's global surfing industry over the past five decades.

The appeal of Rainbow Bay has extended well beyond the surfing community.

International DJ Paul Fisher purchased an apartment through his investment vehicle, YLB Developments, an abbreviation of his trademark phrase "You Little Beauty".

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.

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.

<h2>Boutique project draws owner-occupiers</h2>

Esprit launched in 2021 and sold strongly, with buyers drawn to its boutique scale, beachfront position and contemporary design.

The completed development comprises 94 apartments across 11 levels, offering expansive floorplans designed primarily for owner-occupiers rather than the investor market.

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.

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.

<h2>S&amp;S Projects continues to shape Rainbow Bay</h2>

S&amp;S Projects founder Paul Gedoun has become one of the key figures behind Rainbow Bay's evolution over the past several years.

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.

Esprit is Gedoun's third completed project in Rainbow Bay, following Flow and Awaken, both of which achieved record prices for the suburb.

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.

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>

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Who's who of buyers revealed as Esprit Rainbow Bay settles

Apartment buildings are increasingly being designed around how people actually live day to day, not just how they want a building to look.

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.

Online shopping has become one of the clearest examples of that change.

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.

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.

That is why secure parcel infrastructure is increasingly being considered alongside more familiar apartment amenities.

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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.

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.

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.

As buyer expectations evolve, secure parcel delivery is becoming part of the same design conversation as flexible working, sustainable transport and resident wellbeing.

It is one less thing for residents to worry about, and another example of apartment design adapting to the way Australians now live.

Apartment design is adapting to the way Australians shop

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.

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.

SRM Residential agent Ben Stewart said buyer demand throughout June reflected a mix of improving market confidence and longer-term thinking from owner-occupiers.

"We're seeing strong demand from owner-occupiers who are taking a longer-term view," Stewart said.

"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."

[smartcode_project:default project_id=134323 project_image_fid=367129]

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.

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.

Every apartment features high-end Calacatta marble, bespoke joinery, and fully integrated appliances.

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.

[smartcode_project:default project_id=134323 project_image_fid=6393]

Rothelowman Principal Ben Pomroy said the project was designed to make the most of its unique position overlooking the harbour.

"The Walden is a celebration of all things beautiful, curated for those who expect nothing less than exceptional," Pomroy says.

"Meticulously designed entertaining spaces and light-filled living areas that capitalise on capturing the natural beauty of Sydney's iconic harbour."

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.

[smartcode_project:default project_id=134323 project_image_fid=6402]

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.

Founder and CEO Andrew Hrsto previously said the rarity of the Walker Street site made it an opportunity the company could not overlook.

"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.

[smartcode_project:default project_id=134323 project_image_fid=6383]

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.

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.

The Walden is currently under construction and is scheduled for completion in 2028.

[smartcode_project_cta:default project_id=134323]

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

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.

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.

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.

<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" />

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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.

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.

Conquest CEO Michael Akkawi said the redevelopment was about far more than replacing a shopping centre.

"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."

"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."

<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" />

DKO said the design had been shaped by the site's landscape setting and surrounding open space.

"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."

"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."

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.

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.

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.

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

Staff reporter

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