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Hassad Australia's Telopea Downs is tipped to have been sold in the largest single farm transaction in Victorian history.
The 47,677ha Telopea Downs Station at Telopea in western Victoria was set to fetch well over $70 million.
The news broke today with Fairfax Media unaware of the details of the buyer.
Telopea Downs was one of the last properties Hassad Australia purchased in 2012.
Hassad purchased the majority of Telopea Downs for more than $35 million and added other land parcels.
Hassad has been selling farms off in the last year, including Kaladbro to the Brinkworth family and more recently Clover Downs to the Zell family for about $27 million.
Last November Hassad Australia announced the sale of 18,000 hectare in three large aggregations — Raby Station in NSW, and Glendale and Ungarra aggregations in South Australia.
Fifteen family operators will be acquiring individual parcels of land from all three aggregations.
Landmark Harcourts agent Phil Rourke, <a href="https://hassad.com.au/raby-stud-nsw/" target="_blank">who sold historic Raby at Warren</a>, confirmed it sold to a consortium of local buyers, who would integrate parts of the 9,782 hectare property into their existing operations.
Hassad Australia also sold a dry land cropping aggregation spanning more than 3,000 hectares in South Australia’s mid-north for $16.2 million. 
Located 29 kilometres north-east of Clare, the Glendale Aggregation is suited to growing wheat, barley, canola, lentils and legumes, as well as grazing livestock. 
 
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Hassad's Telopea Downs offering set for Victorian record

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With subdued and stagnant incomes, more Australians are feeling strapped for cash, and are being forced to dip into their savings to cover the rising cost of living expenses, ME’s latest Household Financial Comfort Report (HFCR) has revealed.
Empty nesters (50 years old and over) reported a record low in financial comfort.
“You may think that empty nesters would have fewer financial worries – most have paid off their mortgage, their kids have flown the coop, the majority are still working and some have voluntarily retired," consulting economist for ME, Jeff Oughton said.
"However, many are still concerned about current finances as well as worried about their life after work, expressing an 8% drop in comfort with their expected standard of living for retirement, as well as a 7% fall in their ‘comfort with savings’.
"Recent changes to superannuation in the past year appear to be significantly impacting this life stage."
The report also pinpointed students reporting a substantial decline in financial comfort of 15% to 4.18 since the last report.
“Students are always among those with the lowest financial comfort in each HFCR due to a lack of comfort with cash savings, investments, net wealth and their reduced ability to manage a financial emergency," Oughton said.
"However, this recording is a major negative spike and can be attributed to falls across most components that make up the Household Financial Comfort Index, in particular ‘level of debt’, ‘comfort with living expenses’ and ‘confidence in the handling a financial emergency’.
Oughton said more households are overspending to cover necessary living expenses and are drawing down on savings, with mortgage and rental stress remaining high.
“Comfort with short-term cash savings was the most notable component of the Household Financial Comfort Index to decline, seeing a 3% decrease to 4.93 out of 10 during the first half of 2018 – its lowest level in a couple of years.”
The report showed that households’ confidence to raise money for an emergency dropped three points below the average since the survey began, and fewer households reported they are saving. The estimated amount that Australians are saving each month decreased by just over 10% during the first half of 2018.
More Australians are also overspending – households who ‘typically spend all of their income and more’ increased 3points to 11% during the six months to June.
“Clearly, this is a potential tipping point. At the moment, Australians generally can dip into their savings to get by. However, some households may get to a point where there’s no more savings to draw from.
"Currently, around a quarter of Australian households have less than $1000 in cash savings,” Oughton said.
“If we see big negative shocks in the coming year, whether they are higher loan rates or an international trade war, then a lot more families will suffer increased financial stress.”
The latest report found that the cost of necessities continues to be the major financial concern for households, with more than half of households reporting it as their ‘biggest financial worry’, up seven points to 53% in June 2018.
Similarly, when asked why their financial situation worsened during 2017– 18, 44% of households said it was due to the cost of everyday items, an increase of four points since the previous report.
Consistent with ABS wage data, the latest HFCR data found nearly half of households (42%) still had the same income as a year ago, while a quarter (24%) reported income cuts and 34% received a raise. Unsurprisingly, ‘comfort with income’ declined in the past year by 2% to 5.61.
Oughton said similar to strengthening in the ABS jobs data, the report revealed increased confidence in people’s ability to find a job; however, high levels of job insecurity and underemployment remain. Around 23% of casual and part-time workers said they would prefer to undertake full-time work if they could.”
In the six months to June 2018, the report’s overall Household Financial Comfort Index went sideways from 5.49 to 5.44, once again indicating that the financial comfort of Australian households is not advancing.
Mortgage and rental stress still high, despite the housing market cooling.
The report revealed housing stress is still prevalent among Australian households.
For those with home loans, a broadly unchanged 45% of households reported to be contributing more than 30% of their disposable income towards mortgages during the past six months – a common indicator of financial stress
"The good news for renters is that financial stress has lessened somewhat during the past six months, thanks to thehousing market cooling and rents falling. While almost three-quarters (72%) of renters were previously contributing over 30% of their disposable income towards rent, this number dropped significantly to two-thirds (67%) in the most recent survey,” Oughton said.
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Empty nesters feeling financial discomfort: ME report

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There's whispers of a $6 million sale off the plan at Mt Buller's Kooroora redevelopment, which snares the Australian snow record away from Thredbo.
The Thredbo record dates back pre-global financial crisis to 2005 when entrepreneur Andrew Roberts paid $3.5 million for the five bedroom chalet, Tussock which was bought from the Melbourne architect Andrew Norbury and his wife Jane Parker, one of the founders of fashion label Country Road.
Norbury had designed the home on Crackenback Ridge, one of Thredbo's highest building blocks.
Set in the heart of the village square, Kooroora is a collection of 21 residences. Five are left in the four storey $35 million Grollo Group project through John Castran.
The site is rich in history having been established in 1953 by brothers Ernest and Aurel Forras in 1953. Their mother and sister came out from Hungry to assist; cooking and serving in the chalet’s dinning room. It burnt down in 1961 and was rebuilt and re-opened for the 1962 winter. 
Kooroora provided the first post war high-end commercial accommodation on the mountain. 
Property mogul Rino Grollo sold his 300 sqm Howqua suite penthouse in the Mount Buller Chalet in 2015 to the Autobarn founder, Garry Dumbrell for $1.7 million.
This article was first published in The Weekend Australian.
 
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$6 million sale off the plan at Mt Buller's Kooroora redevelopment

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Taj on Swan, Perth's notorious building block, has gone under offer following last weekend's auction where the bidding stopped at $15.6 million, with the negotiations apparently getting nearer $17 million.
The abandoned Peppermint Grove home building block of flamboyant billionaire tycoons, Pankaj and Radhika Oswal, listed through Ray White agent Vivien Yap inconjuction with Sotheby's agent Graham Bowie, cost $22.7 million in 2007 when bought from property developer Warren Anderson. 
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<div>Marketed as "the most famous block in Australia" the <a id="LPlnk998012" href="https://www.realestate.com.au/property-residential+land-wa-peppermint+grove-202042586" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">2 Bay View Road site</a> had $30 million hopes two years ago.</div>
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<div>The mansion with Swan River views sat unfinished after the Oswals quit Australia in 2010 amid a dispute with bankers about the wind up and sale of their fertiliser business.</div>
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<div>The Oswal family had controlled WA's $700 million Burrup Fertilisers gas-processing plant</div>
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<div>The Oswals paid $22.7 million in 2007 then starting construction a year later on a "two-storey, Indian-infused luxury residence." </div>
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Taj on Swan sold at Peppermint Grove

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The professional surfer Wade Goodall and wife Jane were among the many vendors who pulled their property from weekend auction, as the auction sales wipeout continues.
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The couple are seeking buyers for their Byron Bay hinterland home having recently secured a larger block just nearby to build a new house.
McGrath Ballina agent Braden Walters had a pre-auction guide of between $1,075,000 to $1.15 million for the modern<a id="x_mcntLPlnk717244" href="https://www.realestate.com.au/property-house-nsw-bangalow-128745214" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable"> Bangalow cottage.</a>
Wade, who is an ambassador with surf fashion label Vans, spent $300,000 in 2014 on the Palm-Lily Crescent building block.
Set some 13 kilometres inland from the coast, their classic Queenslander style home has three bedrooms, two bathrooms and a study nook.
Sydney accounts for the biggest number of withdrawn auction property.
Domain put weekend withdrawals totalling 95 properties on the weekend with 58 in Sydney.
Over the past month, CoreLogic calculate around 20 percent of auction stock has been withdrawn from auction across Sydney, as wave of buyer enthusiasm wanes.
There were 1,316 homes taken to auction across the combined capital cities, returning a preliminary auction clearance rate of 56.2 per cent, according to CoreLogic. 
Auction volumes were down from last week when 1,536 auctions were held, however the preliminary clearance rate edged higher than last week’s final clearance rate which was 55.6 percent. 
Over the same week last year, auction volumes were higher with 1,857 homes returning a clearance rate of 68.2 per cent.
Melbourne's dearest house sale was $3.88 million at Fitzroy North through Jellis Craig. The 1891 home on 584 sqm is known as Moss Vale which last sol in 1977 at $100,000. The <a id="x_mcntLPlnk485410" href="https://www.realestate.com.au/property-house-vic-fitzroy+north-128812842" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">225 McKean Street offering</a> had come with a $3.4 million to $3.7 million price guide, based on the recent $3.8 million sale at 25 McKean Street, an unrenovated home on 600 sqm.
Two families pushed up the bidding to $3.8 million, when the property was declared on the market.
There was a third bidder at the auction, which was over in three minutes
Melbourne's dearest sale was a development site at 71-73 Beddoe Avenue, Clayton which was listed with $3.4 million to $3.74 million hopes. With two original three bedroom houses on an expansive 1483 sqm lot, it fetched $4,258,000.
In Melbourne, a preliminary auction clearance rate of 57.9 per cent was recorded across 628 auctions, down slightly from 58.5 per cent across 802 auctions on the last weekend in July. 
One year ago, the Melbourne clearance rate was a stronger 73.9 per cent across 911 auctions.
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Melbourne had the cheapest sale across the country when a $280,000 pre-auction offer was accepted in Ormond for a one bedroom apartment. Last sold at $112,000 in 1999, <a id="x_mcntLPlnk207438" href="https://www.realestateview.com.au/real-estate/11-50-lillimur-road-ormond-vic/property-details-sold-residential-11981124/" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">11/50 Lillimur Road</a> had recently been a $280 a week rental.
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It had been listed with $250,000 to $270,000 price guidance through Woodards.
There were 456 auctions held in Sydney, the fourth consecutive week where Sydney has been host to less than 500 auctions, returning a preliminary auction clearance rate of 56.1 per cent.
One year ago, 620 auctions had a clearance rate of 66.4 per cent.
Sydney's highest sale was <a id="x_mcntLPlnk169078" href="https://www.realestate.com.au/property-house-nsw-bronte-128797482" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">5 Alfred Street, Bronte</a> at $4,116,000. The deceased estate executors were flexible on their $4.2 million price expectation.
Adelaide had the weekend's best performing clearance rate with a 73.2 per cent success rate across 56 auctions.
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Weekend auction withdrawals signal low buying interest

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Multiplex, a global contractor, has completed the Victoria Racing Club’s (VRC) new $128 million Club Stand at the Flemington Racecourse.
Designed by Bates Smart Architects, the five-level Club Stand (pictured above) is the 10th grandstand to be built at Flemington since 1865.
VRC Chairman Amanda Elliott said the Club is delighted to reach this significant milestone ahead of its hallmark events in the spring racing season.
According to Multiplex, construction of The Club Stand generated an estimated 350 full-time equivalent jobs over the 18-month construction period with a peak workforce of 435 workers on site.
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Approximately 1,500 tonnes of steel were used during construction with one tower crane and up to six mobile cranes on-site each day during the main structural steel construction period.
It offers 360-degree views of the Mounting Yard, race track, Members Lawn, Parade Ring, Betting Ring and Winning Post.
Multiplex recently completed a similar project, the redevelopment of Randwick Racecourse (pictured below) for Australian Turf Club in 2013.
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New Flemington racecourse club stand has been completed

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Designed by architect Eric Trewern, Thongabel, a Coorparoo landmark house recently sold.
Located at <a href="https://www.dixonfamily.net.au/listings/residential_sale-1564302-coorparoo/" target="_blank">4 Welwyn Crescent, Coorparoo</a>, it features a dress circle position atop 860 square metres that captures views of the entire Brisbane City skyline.
The three storey house features multiple living and entertaining spaces that span out to areas with views.
It sold through Dixon Family Estate Agents off market.
The interiors have been renovated with architectural features including Tulip Oak timber floors, Italian tiles and travertine.
There are five bedrooms positioned across two levels of the home, while the parent's retreat opens out to a private balcony.
Other highlights include library, gym, climate controlled wine cellar, formal office, heated lap pool, heated horizon spa and outdoor space for kids to play.
It is only 4 kilometres from the CBD, and within close proximity to state, Catholic and private schools. 
The suburb's median house price sits at<a href="https://www.propertyobserver.com.au/Designed%20by%20architect%20Eric%20Trewern,%20'Thongabel'%20the%20Coorparoo%20landmark%20house%20has%20been%20recently%20sold." target="_blank"> $875,000</a>, according to CoreLogic.
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Landmark Coorparoo trophy house Thongabel sold

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GUEST OBSERVATION
Dick Smith has laid the blame for closing his Australian-made processed food lines squarely at the feet of Aldi Australia.
He accused the German retailer of “extreme capitalism” and warned the CEOs of Woolworths and Coles that “unless your companies move towards [Aldi’s limited range and high proportion of private brands], you will very likely become uncompetitive”.
But this betrays a fundamental misunderstanding of Aldi’s strategy and the limits of its appeal in the Australian market.
An important element of Aldi’s strategy is a severely limited range of “preselected” products, overwhelmingly private brands. The company’s smaller range (some 1,500 store-keeping units as opposed to 20,000 to 30,000 in a large Coles or Woolworths outlet) has several advantages – in terms of store footprints, warehousing infrastructure and supplier discounts, to name a few.
A proportion of these savings are passed on to consumers to ensure their appeal with households wanting to stretch their shopping dollars further.
This strategy and disciplined execution propelled the company’s growth.
From its first two stores in the Sydney suburbs of Marrickville and Bankstown, Aldi gradually expanded across the eastern seaboard. It was not until 2016 that Aldi started opening stores in South Australia and Western Australia.
These new territories promised significant growth opportunities while store openings in the established territories were largely restricted to gap-filling.
By 2018, Aldi was operating more than 500 outlets around Australia and claiming roughly 13% of the Australian supermarket industry. Aldi’s gain in market share has overwhelmingly come at the expense of the smaller, independent supermarkets (IGA-affiliated as well as others).
Coles and Woolworths have chiefly responded to Aldi through price cuts and by boosting their share of private brands. While competition in the Australian supermarket sector has increased, it remains a lucrative oasis in comparison to international markets.
Low-hanging fruit is gone
As its stores now span the entire nation, Aldi’s growth can be expected to slow down. The company is unlikely to “turn on” and overwhelm Coles and Woolworths, as Smith predicts, because of the inherent limitations of the Aldi formula.
Aldi has successfully appealed to a particular segment of the market. It is a segment of shoppers prepared to trade low prices (coupled with sound product quality) for a variety of conveniences offered by traditional supermarkets. These shoppers readily accept Aldi’s highly restrictive range of product, the lack of manufacturers’ brands, and austere stores with minimal service at the cash register or in store.
The company has also been successful in expanding this segment, by convincing a growing number of people to do at least part of their shopping with Aldi and accept the trade-off at the heart of its offering.
But the majority of Australian shoppers prefer to do (the bulk of) their shopping with the two incumbents (Coles and Woolworths who still account for more than two-thirds of the market) as well as a shrinking number of independent supermarkets and a growing set of alternative sources such as farmers’ markets or subscription-based retailers (Costco).
Strategy has limits
Aldi exemplifies strategy scholar Michael Porter’s dictum that the essence of strategy is choosing what not to do. In embracing the “Aldi way”, the company has made hard strategic choices. Its strategy appeals to a sizeable segment of the Australian public.
But it’s turning away shoppers who value things other than what’s on offer at Aldi – larger choice, established brands, more service, plusher stores, in-store bakeries and delis or expanded fresh food sections. As a result, Aldi’s growth in Australia is going to reach its limits.
As far back as 2016, CEO Tom Daunt acknowledged that growth opportunities were slowing in existing territories. He also acknowledged the onset of cannibalisation between existing Aldi stores, a sure-fire indicator that their segment was becoming saturated:
"Increasingly those stores on the eastern seaboard are less often in virgin catchments and more often than not for the majority of those stores there is some impact on other existing Aldi stores."
A recent UBS report also picked up the increase in cannibalisation among Aldi stores. UBS analysts suggested Aldi store cannibalisation in South Australia and Western Australia was reaching levels not far behind the more established territories.
This indicates that saturation might be achieved sooner in new markets, and puts growth objectives in these states in doubt.
Since its arrival in 2001, the company has benefited the Australian public by injecting much-needed competition into the local grocery retail scene, thereby boosting Australian consumers’ spending power. While its success is testimony to the appeal of the Aldi formula, growth will inevitably peter out and the company will not overrun Australia’s existing retail giants.
<img src="https://counter.theconversation.com/content/100671/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">Aldi’s experience in Australia exemplifies the benefits as well as the limitations of clear and focussed strategy.
Tom Osegowitsch, Senior Lecturer, International Business and Strategic Management, University of Melbourne
Angela McCabe, Lecturer, Management, La Trobe 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-secret-to-aldis-success-is-choosing-what-not-to-do-100671" target="_blank">original article</a>.
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The secret to Aldi's success is choosing what not to do

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The first half of 2018 has seen a major shift in Adelaide's retail environment, according to the latest report from Herron Todd White (HTW).
The financial valuers stated that for the first time in 16 years South Australia has a Liberal Government, who have long advocated for extended trading hours.
Currently, shops in the Adelaide CBD or tourist precinct are allowed to trade during public holidays and these factors among others may assist brick and mortar retail to compete with the online space.
Infrastructure spending has also continued in South Australia following the change of Government, noted the report.
The Torrens to Torrens, Darlington Upgrade and Northern Connector, which all form part of the government’s North South Corridor are still undergoing construction and are a combined expenditure of $2.3 billion.
There has also been the approval of the current construction of a new Bunnings Warehouse on South Road in Edwardstown, creating a 17,008 square metre super store.
The $45 million Bunnings outlet will be completed early next year.
The report notes that "a part of the infrastructure spending taking place is a planned $174 million upgrade of the Oaklands Crossing (rail/road grade separation), which surrounds the Westfield Marion Shopping Centre".
"True to form, the bulk of the retail development is occurring in the Adelaide CBD, which has seen a sharp increase in the amount of residential accommodation under construction."
In January, it was announced that the $40 million redevelopment of Rundle Mall Plaza will house the new tenant, H&amp;M, across four storeys, Rundle Plaza was constructed in the 1960’s for David Jones. 
"In respect to Retail growth, the story over the last few years has been heavily weighted toward supermarkets such as Aldi who have opened 23 stores since entering the market in 2015," stated the valuers.
The 23rd was a centre at 209 Port Road, Aldinga, anchored by Aldi which was completed in January 2018.
There are more on the way with Aldi recently securing another site in Adelaide’s South East suburb of Blackwood, with the purchase of the Blackwood Village Shopping Centre for $5.5 million.
The Westfield Tea Tree Plaza Shopping Centre is also being extended and there are upgrades planned for Westfield Marion, which will take place in 2019.
Despite this, research undertaken by numerous outlets is positive and the retail trading environment seems to be improving in South Australia with retail spending being the second highest in the country in February 2018, reaching 3.7% compared to the national average of 2.7%, the report concluded.
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Adelaide's new north-south corridor constructions worth $2.3 billion dollars: HTW 

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The quickest path for first home buyers to purchasing a house in Greater Hobart is Brighton, according to a report released this week by Domain.
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For those looking to buy a home, Greater Hobart is one of the most accessible capital cities in Australia with the lowest entry price for houses.
"However, when LGAs are considered, accessibility is driven by the affordable outskirts," the report said.
The LGA of Hobart takes approximately 6.3 years to save for an entry price home deposit, which is almost on par with the average time to save for a deposit in Greater Sydney (6.7 years).
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Indicative of Brighton's price potential, 23 Andrew Street, Brighton (pictured above) the two bedroom, one bathroom house sold for $230,000 last month.
However even though Greater Hobart requires the shortest time to save of all the capital cities, this has increased by three months for houses and four months for units compared to last year, a result of a strong, growing market outpacing wage growth.
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Brighton ranked the quickest FHB path to house ownership in Greater Hobart: Domain

Buyers considering a residence at boutique Gordon townhouse development <a href="https://www.apartments.com.au/new-townhouses/lume-gordon-43-47-dumaresq-street-gordon-nsw-2072">Lume</a>&nbsp;now have another reason to bring forward their decision.

For a limited time, purchasers of a residence at Lume will receive a BMW iX3 50 electric SUV, valued at more than $120,000, as part of their purchase. The offer is designed to add value for buyers while complementing the lifestyle envisioned for the architecturally designed Upper North Shore development.

Scott Timmins, Development Manager at <a href="https://www.apartments.com.au/developers/winim">WINIM</a>, said the partnership was created to provide buyers with a compelling reason to act.

"In today's market, buyers need a compelling reason to act now, and the BMW partnership was designed to create that catalyst. We wanted to add genuine value for our future purchasers. Choosing the all-electric BMW iX3 50 also reflects the values behind LUME, forward-thinking design, innovation and a more sustainable way of living. It's a premium incentive that complements the lifestyle our buyers aspire to and rewards those who commit early."

[smartcode_project:default project_id=7354 project_image_fid=374893]

Delivered by WINIM in partnership with Burtonwood Investment Partners, Lume comprises 14 architecturally designed two, three and four-bedroom townhomes created for families seeking the space of a freestanding house with the ease of modern, low-maintenance living.

The three-storey residences, designed by award-winning architecture practice <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, have been tailored for families and multi-generational living, featuring private internal lifts, flexible lower-level spaces, generous open-plan living and entertaining areas, media rooms, and landscaped outdoor spaces with custom outdoor kitchens.&nbsp;

Inside, engineered oak flooring, bespoke dining joinery with integrated wine fridges and backlit bars, sculptural porcelain bathrooms, Parisi freestanding baths and Astra Walker tapware create interiors that balance functionality with refined finishes.

Each townhome has been designed to combine generous internal spaces with sustainability initiatives such as EV charging infrastructure, while <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>'s landscaped communal areas, centred around a restored creek line and native planting, encourage residents to connect with nature and spend more time outdoors.

[smartcode_project:default project_id=7354 project_image_fid=269527]

Rothelowman's Gary Tsui said the architecture was conceived to respond carefully to its Upper North Shore setting.

"Our vision was to create elegant, uplifting homes that draw on and positively contribute to the local character through meticulously considered design and an interaction with the surroundings."

The communal landscape has been designed as more than an open space between homes. Arcadia's Ben Newell and Kate Phillips said the adjoining reserve provided an opportunity to create a distinctive natural retreat for residents.

"Just as waterways carve their way through Ku-ring-gai's landscape, a raised boardwalk weaves through the reserve, connecting the homes to this tranquil oasis."

[smartcode_project:default project_id=7354 project_image_fid=374892]

Located just 300 metres from <a href="https://www.apartments.com.au/developments/gordon-nsw-2072">Gordon</a> Village and Gordon railway station, Lume offers convenient access to Sydney's CBD while placing residents close to some of the North Shore's leading schools, including Ravenswood, Pymble Ladies' College and Knox Grammar. Lane Cove National Park, Gordon Golf Club and a range of cafés and restaurants further reinforce the family-focused lifestyle on offer, with the BMW iX3 50 complementing everything from local trips around Gordon to weekend drives and city commutes.

Construction is underway with completion expected in mid-2027.

[smartcode_project_cta:default project_id=7354]

Joel Robinson

Boutique Gordon townhomes now come with a BMW iX3 50

Two apartments have sold for more than $10 million at EADE Byron Bay, setting some of the highest apartment prices ever achieved in the coastal town and underlining the growing appetite for luxury beachfront apartments in Australia's most popular coastal locations.

The $210 million project by Vitale Property Group has now secured more than $70 million in sales, led by residences that changed hands for $12.75 million and $11.75 million.

The record-breaking transactions reinforce the shift occurring in Byron Bay's premium property market, where affluent downsizers and lifestyle buyers are increasingly opting for high-end apartments over large beachfront homes.

<a href="https://www.apartments.com.au/new-apartments/eade-byron-bay-29-shirley-street-byron-bay-nsw-2481">EADE Byron Bay</a> occupies a rare 6,000 sqm absolute beachfront site on the corner of Shirley and Milton Streets overlooking Main Beach and The Wreck surf break, just 350 metres from Byron Bay's town centre.

The 25-residence development is the first beachfront apartment project approved in Byron Bay in more than a decade and is currently under construction, with completion expected in May 2027.

[smartcode_project:default project_id=145590 project_image_fid=359521]

The project has attracted a mix of local Byron Shire residents downsizing from larger homes, alongside interstate buyers from Sydney, Melbourne and Brisbane seeking a permanent coastal lifestyle without compromising on space.

Designed by <a href="https://www.apartments.com.au/architects/hayball">Hayball</a> and with interiors by <a href="https://www.apartments.com.au/interior-designers/alexander-co">Alexander &amp; Co</a>, EADE comprises&nbsp;10 garden apartments ranging from 284 sqm to 622 sqm, nine with private pools, five full-floor apartments and 10 rooftop residences with private plunge pools, expansive outdoor entertaining areas and uninterrupted ocean views.

[smartcode_project:default project_id=145590 project_image_fid=359527]

<a href="https://www.apartments.com.au/developers/vitale-property-group">Vitale Property Group</a> Managing Partner Chris Vitale said the project's combination of scale, location and limited future supply was driving buyer demand.

"There isn't another beachfront holding in Byron Bay of this size and position that could be developed again," Vitale said.

"Buyers are responding to the scarcity and the irreplaceability of a site of this calibre and to floorplans they can't find elsewhere in the market.

"We are seeing buyers place significant value on quality, space, design, resort-style amenities and the rarity of the location. The sales achieved to date demonstrate that discerning purchasers recognise the long-term significance of what is being created at EADE Byron Bay.

"Many are coming from larger homes in the Byron region, or from Sydney, Melbourne and Brisbane, and are after the space, security and convenience, without the upkeep of a house."

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[smartcode_project:default project_id=145590 project_image_fid=359523]

The Byron Bay project follows Vitale Property Group's delivery of the Mondrian Hotel and Private Residences at Burleigh Heads, with EADE continuing the developer's focus on luxury coastal developments.

Residents will have access to a resort-style swimming pool, gymnasium, sauna, cold plunge pool, concierge services and dedicated workspaces, while the project is targeting an 8-Star Green Star rating.

EADE Byron Bay is being exclusively marketed by Projx Australia in conjunction with WHITEFOX Projects.

WHITEFOX National Projects Director Phillip Rand said demand had been driven predominantly by owner-occupiers.

"We are seeing buyers at EADE place significant value on quality, space, design, resort-style amenities and the rarity of this location," Rand says.

"The sales achieved to date demonstrate that purchasers at this level recognise the long-term significance of what is being created at EADE Byron Bay."

Residences at EADE Byron Bay are currently priced between $4.75 million and $15.95 million.

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[smartcode_project_cta:default project_id=145590]

Vitale breaks Byron Bay records with EADE sales flurry 

When buying an apartment, most people compare the big-ticket items first. Floorplans. Kitchens. Balcony size. Natural light. The view.

But there's one everyday consideration that often doesn't come up until after moving in: how parcels are delivered.

As online shopping has become part of everyday life, parcel deliveries have shifted from an occasional event to a regular occurrence. Australians spent a record $82.6 billion shopping online in 2025, with almost one in every four retail dollars now spent digitally.

For apartment residents, that can present a challenge.

If nobody is home to accept a delivery, parcels may be redirected to a nearby Post Office, left in a building lobby or common area, or require building management to step in. In higher-density buildings, where dozens or even hundreds of residents may receive deliveries each day, parcel management has become an increasingly important part of everyday living.

That can create a range of frustrations. A missed delivery often means making time to collect a parcel elsewhere, while packages left unattended in foyers or mail areas can create clutter and increase the risk of theft. What seems like a minor inconvenience can quickly become a recurring issue for residents who shop online regularly.

It's one of those details that rarely features in a display suite but can have a noticeable impact once residents move in.

As a result, buyers are beginning to look beyond traditional apartment features and consider how a building supports day-to-day convenience, including whether there are secure options for receiving deliveries.

Australia Post's Parcel Lockers provide one solution.

<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/CkF2oKmlACg?si=C50sDaoUUn2nuLmq" title="YouTube video player" width="560"></iframe>

Rather than having a parcel delivered directly to an apartment, eligible deliveries can be sent to a nominated Parcel Locker. Once the parcel arrives, residents receive a notification through the AusPost app or SMS and can collect it using a QR code or one-time PIN at a time that suits them.

The Parcel Locker network now includes more than 1,500 locations nationwide, with installations at Post Offices, shopping centres, transport hubs and an increasing number of residential developments. By providing a secure collection point, Parcel Lockers help reduce missed deliveries and avoid parcels being left unattended in common areas.

For developers, parcel infrastructure is becoming another way to improve the resident experience. Rather than relying on concierge staff or leaving parcels in communal spaces, secure collection points help streamline deliveries while preserving the presentation and functionality of shared areas.

For buyers, it's a reminder that the best apartment features aren't always the most obvious.

A generous floorplan or quality finishes might help narrow the shortlist, but the conveniences that simplify everyday life, whether that's EV charging, secure bike storage or reliable parcel delivery, often become the features residents appreciate most once they're living there.

The apartment feature many buyers don't think about, until their first missed delivery

<a href="https://www.apartments.com.au/developers/hg-developments">HG Developments</a> is doubling down on Maud Street in Newstead, filing plans for a new apartment tower just a few doors down from its under-construction Aire Newstead development.

Recently submitted to Brisbane City Council, the proposal is for an 18-storey building designed by bureau^proberts, which has drawn heavily on Brisbane's subtropical design principles while referencing the suburb's industrial heritage.

A total of 64 apartments are planned for the amalgamated 1,518 sqm site at <a href="https://www.apartments.com.au/new-apartments/17-21-maud-street-newstead-qld-4006">17–21 Maud Street</a>, a short walk from the Brisbane River and Newstead Riverwalk.

<img alt="First look: HG Developments plans 18-storey subtropical apartment tower for Newstead" data-entity-type="file" data-entity-uuid="a400c7fd-bd15-48f8-a63b-10ede92efe00" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Maud%20st%20bldg.png?VersionId=.0vPmjpbC7CNP7kqGWa6L7rGIwsNExaw" />

"The building is defined by a series of vaulted motifs that reinterpret the arches, colonnades and layered facades evident throughout Newstead's historic built fabric," the Urban Design Report states.

"Combined with recessed glazing and generous balconies, these elements create a layered building envelope that provides shade, weather protection and opportunities for natural ventilation whilst establishing a distinctive architectural identity."

The proposal comprises 64 two, three and four-bedroom apartments across 18 residential levels, positioning it alongside a growing number of taller residential projects transforming Newstead's northern precinct. The tower incorporates extensive subtropical landscaping, with cascading planter boxes, deep planting at street level and a landscaped rooftop recreation area.

<img alt="First look: HG Developments plans 18-storey subtropical apartment tower for Newstead" data-entity-type="file" data-entity-uuid="1d8140f4-8b98-45cd-b1b8-1efe8c8e266b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Maud%20st%20podium.png?VersionId=VAZtbCoD44YCJ57N99fQCAKeSJx7ldZs" />

Bureau Proberts has prioritised passive environmental design throughout the project, with generous balconies, recessed glazing and operable façades helping reduce solar heat gain while maximising natural ventilation. River views become available from the upper levels, while the building has been orientated to capture prevailing breezes from both the Brisbane River and the west.

The architects say landscape is intended to be integral to the building rather than an applied element.

"Vertical greenery, cascading planter boxes and elevated gardens are woven throughout the architecture, softening the built form and strengthening the connection between residents and the subtropical environment."

"Through the integration of landscape, high-quality materials and passive design principles, the development delivers a refined residential address that celebrates Newstead's heritage character while contributing positively to Brisbane's evolving subtropical identity."

Newstead has remained one of Brisbane's most active apartment markets in recent years, with a number of developers continuing to back the inner-city suburb.

HG Developments is currently delivering the 40-apartment Aire Newstead at 25 Maud Street. Fortis recently launched the 65-apartment <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a> on Kyabra Street, while builder-developer BPG and Don O'Rorke's Consolidated Properties are both expected to launch their respective Newstead projects before the end of the year.

HG Developments doubles down in Newstead with second Maud Street apartment development

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.

Staff reporter

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