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Sydney Olympic Park Authority is seeking to lease 1,500sqm retail floor space which is suitable for a supermarket.
Situated within the new Pavilions by Mirvac development at 2 Figtree Drive, the site is currently under development.
It will deliver a total of 705 apartments across four residential buildings with frontage onto Australia Avenue.
Sydney Olympic Park currently has a community of over 10 million visitors, 19,000 workers and 3,000 residents, which is set to increase as an additional 2,000 apartments are expected to be delivered over the next five years.
<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/2018/7/5/Olympic%20park2.jpg" alt="">
Future growth as outlined in the Sydney Olympic Park Master Plan 2030 will see a daily community of 23,500 residents and 34,000 workers.
The open tender seeks a tenant to occupy the premises for a minimum fifteen years.
The tender closes on 31 July 2018.
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j.ballantyne1990-6AQqhLzZaK

Sydney Olympic Park Authority looking to lease space to a supermarket

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Located on the northern side of Mayfield, a private 1303sqm of level land has been listed for over $2.5 million.
It is offered by Vaughan Keenan from Grace and Keenan, Newstead. 
<a href="http://graceandkeenan.com.au/36-mayfield-street-ascot/" target="_blank">Situated at 36 Mayfield St, Ascot</a>, the level vacant land is north facing and features 5m wide private driveway. 
The land has been cleared and ready to start building.
It is within walking distance to Ascot school zone, transport and Racecourse Road cafe society.
There are two recent house sales of $5.235 million and $7.6 million in the northern side of Mayfield. 
 
 
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Ascot dream home building block listing

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<div>EG has sold its 277 William Street, Melbourne offices to an undisclosed Hong Kong investor.</div>
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<div>EG, a large Australian hedge fund, exchange contracts for the sale at $93.88 million.</div>
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<div>The Australian Financial review suggested it was bought by one of Hong Kong's richest families, the Fu family's KHI Holdings Group at a yield of 4.65 per cent.</div>
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<div>The acquisition was the first in Australia for the company that dates back to 1947 when Y.C. Fu established the Tak Kee Shipping &amp; Trading Company, then later branching out in hotel development with Furama Hotels.</div>
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<div>The 12-storey office building was originally acquired by the EG Core Plus Fund No.1 in November 2015 for $45.9 million.</div>
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<div>EG re-let over 70% of the property and undertook significant cosmetic and plant and machinery upgrades during the hold period. </div>
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<div>The WALE of the property was also increased from 3.3 years to 3.9 years.</div>
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<div>After a number of unsolicited approaches, EG decided to put 277 William Street on the market.</div>
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<div>The building has a net lettable area of 12,080 sqm, 32 car bays and is located nearby Flagstaff Train Station and the Queen Victoria Markets.</div>
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<div>EG's Daniel Farley said rhe property has been "much improved during our hold period," to become a quality B grade asset boasting a strong leasing success rate and excellent environmental credentials.</div>
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<div>The purchaser was represented by Vantage Investments through CBRE and JLL.</div>
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EG doubles its money in 277 William Street, Melbourne office sale

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Marriott International Inc. has announced it has signed an agreement with Greaton Group, to bring Westin Hotels &amp; Resorts to South Australia.
The Westin Adelaide (pictured above) is set to open in 2022 as part of a redevelopment of the iconic Adelaide General Post Office (GPO) building.
The hotel will join the Westin brand’s rapidly growing portfolio in Australia, where its footprint is set to double in the next five years with hotels opened in Sydney, Melbourne and Perth and forthcoming in Brisbane, Darwin and Coolum on the Sunshine Coast.   Richard Crawford, the Senior Director Development, Australia, New Zealand and Pacific, Marriott International said the brand is enjoying phenomenal growth across Australia and in the Pacific.
"We’re on track to have 50 open hotels by 2020.”   Located at the corner of King William and Flinders Streets, in the heart of Adelaide’s Central Business District, The Westin Adelaide will be housed in the Adelaide GPO.
The hotel will be housed in a 15-storey tower, with all 285 guestrooms offering views of the city skyline and Victoria Square. 
The hotel will hold more than 310 square meters of meeting and event space, as well as a 24-hour business center.     “Expanding the Westin brand into Adelaide is important strategically, as the city is enjoying great growth and development, which isn’t showing any signs of slowing down, and visitor numbers are at a record high and are on track to increase by 5.1 percent in the next ten years,” said Sean Hunt, Area Vice President, Marriott International, Australia, New Zealand and the Pacific.
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Westin Hotels headed to Adelaide South Australia

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A company lead by Sydney developer Eduard Litver has acquired the retail-component of the Cosmopolitan Centre Double Bay from Stamford Group.
Litver plans to adapt the leasehold island precinct as a "sophisticated, world-class venue reminiscent of its indulgent past with a modern twist".
Litver is an active property investor, developer and has been a Double Bay resident for over 25 years.
He has been involved in numerous developments, including Pacific Bondi Beach, which won several national architectural and design awards.
Litver is confident that the Cosmopolitan will be "reborn".
Savills Retail Investments' Steven Lerche brokered the deal.
Litver was last in the news when he bought a Bellevue Hill property, <a href="/news/property-developer-eduard-litver-buys-bellevue-hill-trophy-sundorne">Sundorne</a> which he now plans demolition and the building of three houses.
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Eduard Litver buys retail slice of Cosmopolitan Centre, Double Bay

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CBA, the nation's largest residential property lender, is set to cease its low documentation products.
The bank is removing low doc products for all home owner, investment loan and line of credit applications.
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<div id="article-inline-ad">Low doc were aimed at self-employed and small business owners who may not have access to the financial statements and tax returns usually required when applying for a home loan.</div>
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<div>"From September we will be streamlining our suite of products to deliver a simplified and competitive range," the spokesman told The Australian Financial Review.</div>
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Other products to be removed include the one-year guaranteed rate, seven-year fixed rate, 12 month discounted variable rate, rate saver, three-year special rate saver and no fee loans.
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<div>The changes, to start September 29, follow a decision to spin off its wealth management and mortgage broking business along with overhauling the way it rewards mortgage brokers to emphasise "value rather than volumes."</div>
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Brokers account for about 43 per cent of CBA's mortgage flows, compared with ANZ's 56 per cent, Westpac's 46 per cent and National Australia Bank's 42 per cent, according to recent independent analysis by Morgan Stanley.
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CBA to stop low doc loans

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A substantial Camberwell site has been sold for the first time in over half a century.
Colliers International in conjunction with Woodards secured the sale of 7-9 High Road (pictured above) for over $17million.
The property was purchased by Melegant Group through a "hotly contested" public tender campaign.
Melegant Group is managing more than 35 projects totalling more than $250million, across mostly eastern Melbourne. 
Its recent purchases included a development supersite in Malvern East for around $15 million last year, at 1-9 Sylvester Crescent. It is directed by Eddie Zu and David Xu.
“2018 has seen the market starved of high calibre development sites,” Burgess said.
“The result, and competition we received, at 7-9 High Road is a reflection of this and shows the market’s desire for premium develoment opportunities in Melbourne’s high end suburbs."
“Occupying a sought after position of over an acre near the corner of Toorak and Burke Roads, this was an unmatched, generational opportunity to secure an incredibly rare land holding in Melbourne’s premier inner-east."
Comprised of three titles and with frontage to High Road of more than 40m, the holding is 4,433sqm.
The site is currently home to a period Californian bungalow converted into three one-bedroom apartments, as well as four blocks of two-bedroom apartments making a total of eighteen apartments.
Melegant Group recently struck a three-year lease over 280sq m of office space on Level 3, 990 Whitehorse Road, Box Hill, the former ATO building which will cost the company a net annual rent of $98,250.
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High Street, Camberwell development site sells to Melegant Group after 50 years ownership

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GUEST OBSERVATION
It is no secret people are living longer, thanks to advances in medical technology. Futurist Ray Kurzweil predicts we are approaching a point of breaking even – where for every year lived, science can extend lifespans by at least that much. And more than 80% of Kurzweil’s predictions have so far proved correct.
But length of life and quality of life are not the same thing. For good quality of life as one ages, there must be optimal retirement options. The default is to stay in one’s current home for as long as possible, or downsize. Some will settle into the quiet life of a retirement village on the urban fringes.
But a growing number of retirees who are leading a more active retirement, perhaps still working part-time, want to live closer to the bright lights of the city. It is here that the next generation of retirement living is becoming established in cities around Australia, New Zealand, Europe and the US.
Driving the trend are well-heeled baby boomers (those born between 1946 and 1964) who have been using technology at home and work for years. For some, technology has been integral to their lives. And it seems it might be integral to the future of retirement living.
Vertical retirement communities
The chair of the NSW inquiry into retirement villages, Kathryn Greiner, recently recommended integrating designated seniors’ apartments in medium or high-rise residential developments where people of all ages live. Experts have said such retirement communities are the “way of the future”.
But the future is already here, as greater numbers of vertical retirement communities in high-rise apartment buildings are being built in inner-urban areas around Australia. They offer high levels of luxury with ready access to the kinds of amenities inner-city dwellers have grown accustomed to.
High-rise retirement villages would typically be equipped with various smart technologies that connect with the larger technological infrastructure of the city.
Similar to luxury hotel suites, residents would have a spectrum of in-house services and entertainment options presented via internet-connected smart TVs. Multimedia suites would be there for augmented or virtual reality experiences – travel and education being among them. In-house cinemas would host movie nights.
Health care
The way we’re heading, technology-enabled, proactive health management will likely be built into the infrastructure of these retirement villages. It will allow people to stay healthy and live independently at an advanced age, forestalling the time when a move to aged care becomes necessary.
The health-maintenance technology available today means retirees hardly need to leave home for a checkup. Telehealth gives on-demand access to doctors via the internet. Visiting nurses have their role in looking after the elderly at home.
Then there are the dozens of smartphone apps that monitor vital signs, some of which send timely warnings before something becomes a problem.
And while high-rise living may not offer the same access to the outdoors for walking and exercise, technology has other options.
“Exergames” – video games that enable physical activity – are a segment of the computer game industry known to be beneficial to people of all ages, including the elderly. Exergames lend themselves well to vertical communities by not needing much space. They are played either alone or with friends in self-contained virtual environments.
Apart from the physical benefits of exercise, exergames have also been shown to improve mental alertness, balance and coordination, all of which contributes to fewer injuries common to the elderly, such as fractured hips from falling.
Good help is not hard to find now with assistive technologies like Google’s Duplex. These personal assistants fit right into the high-tech home and allow people, wherever they live, to stay independent for longer.
The assistant can keep your diary, make appointments over the phone, buy flowers and have them delivered, turn on the lights, call a taxi and more. Autonomy aids like this could delay the transition to aged care.
A win-win
High-rise apartments are a thorny issue in suburban neighbourhoods, regardless of who is living in them. There are already some objections to high-rise aged-care facilities. But these mainly come from existing low-rise residents who are not happy to have any high-rise buildings in their neighbourhood.
Some are concerned that high-rise communities will lead to social isolation. Traffic congestion is also a concern.
When managed well in an architectural and town planning sense, vertical communities offer high-quality living while occupying a smaller urban footprint than a hundred detached dwellings. They can help reverse the urban sprawl of Australian cities, which are among the largest and least densely settled in the world. We love our big suburban houses, but they do consume vast tracts of countryside.
<img src="https://counter.theconversation.com/content/96916/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">People want to live out their days in the freedom of their own home, not in an institution, no matter how benevolent. And it’s in the national interest to relieve pressure on the public health system. Emerging health-optimising technology and vertical communities can enable this. It’s a win-win.
David Tuffley, Senior Lecturer in Applied Ethics and Socio-Technical Studies, School of ICT., Griffith University
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/vertical-retirement-villages-are-on-the-rise-and-theyre-high-tech-too-96916" target="_blank">original article</a>.
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Vertical retirement villages are on the rise, and they're high-tech too

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GUEST OBSERVATION
After a full year spent delving into the economic and social challenges facing regional Australia, the Select Committee on Regional Development and Decentralisation this week delivered its report.
It’s a surprising piece of work. Why? Because it avoids the ingrained partisanship that has bedevilled regional policy in Australia.
Put simply, it’s good, rigorous work. It makes recommendations that any smart government, of any political hue, could support.
The report even avoids the landmines surrounding the highly contentious policy of decentralisation – the relocation of city-based public service agencies to the regions. It has sidestepped its most obvious route – a squabble over decentralisation – and instead taken a good, hard look at the big issues confronting regional communities and economies.
Let’s take a moment to recall the politically awkward background to this inquiry. It was launched following Barnaby Joyce’s controversial decision to uproot the Australian Pesticides and Veterinary Medicines Authority from Canberra and relocate it to Tamworth, in his own electorate.
A separate Senate committee had already inquired into that decision. Its report (issued a year ago) demonstrated the highly politicised nature of this policy terrain: the majority report, by non-government senators on the committee, firmly rejected the relocation, while the minority report by government senators slammed the entire inquiry as “a political witch-hunt”.
This new inquiry could have traversed the same terrain, with the same outcomes. Certainly, the terms of reference were heavily focused on the issue of decentralisation. But they also invited comment on the overarching wellbeing of regional Australia, and this provided an opportunity the committee members seized.
The committee’s report covers a sweeping range of issues, which is entirely necessary, given the complex interactions between regions and what the committee terms “megatrends” – things like globalisation, population ageing, urbanisation and technological change.
The committee’s recommendations are similarly comprehensive and unapologetically ambitious. The explicit goal is to move beyond the old “roads and rail” approach to regional investment. Instead, it supports strategic (or “catalytic”) investments that build workforce and leadership capacity, cultural capital and infrastructure to support and attract jobs.
The report even elucidates 12 principles of regional development. It’s a sure sign that the committee made a genuine effort to synthesise information from the 196 submissions it received and the more than 100 witnesses at public hearings around the country.
The 13 recommendations are arranged around a central strategy, with six interrelated themes:
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building “enabling infrastructure” that supports development
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identifying regional development priorities through a national process
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extending the fledgling City Deals program to regional cities
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giving Regional Development Australia committees more power and resources
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developing a proper policy for public sector decentralisation
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strengthening regional universities.
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</ul>
I’ll own up to being very pleased that my own recommendation made it onto the list: that the government prepare a white paper on regional Australia. This would elevate regional policy to the same hallowed arena as foreign, defence and security policy.
All of this would be monitored by a new Joint Standing Committee on Regional Development and Decentralisation, to cement parliamentary oversight of the work program.
And what about shifting all of those public sector jobs out of the capital cities and into the regions? This isn’t a new debate. In fact, decentralisation is a recurring theme in regional development, at both federal and state levels.
The practice of governments luring, or pushing, jobs from the corporate and public sectors into regional Australia stretches back to the 1930s. Since then, governments have periodically promised – and occasionally delivered – highly interventionist policies to move labour and capital from the cities to the country.
This inquiry was charged with examining decentralisation, and its report does exactly that, but in an admirably low-key way. Shedding more light than heat, the report insists that decentralisation should only be pursued where it makes sense – that it “should be part of a broader strategy for regional development”. That simple statement is a marked departure from the previous partisan bickering on this issue.
So where does this report leave us? And, more importantly, what does it do for the nearly 9 million Australians who live in regional and rural areas?
The answer is, the committee has laid out a far-reaching and highly practical work program for regional development. If either side of politics took up its recommendations, regional communities might find themselves in a better position to construct sustainable, enjoyable futures.
In the short term, an election is due in the next 12 months and there’s a good chance this report’s recommendations will be cherry-picked for election policies.
<img src="https://counter.theconversation.com/content/99136/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">But beyond the current electoral cycle, this report gives federal parliamentarians a comprehensive plan for meaningful work over the next decade or more. Here’s hoping they make the most of it.
Amanda Walsh, Associate Director, Government Relations, Australian Catholic University
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/report-recommends-big-ideas-for-regional-australia-beyond-decentralisation-99136" target="_blank">original article</a>.
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Report recommends big ideas for regional Australia – beyond decentralisation

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GUEST OBSERVATION
The Financial Services Royal Commission has exposed the fraught relationship between farmers and financiers. We have heard about loan terms being changed without notice or consultation, loans revalued to suit the agendas of financiers, and heartless and harsh treatment of farmers once the loans are revoked.
A number of factors have contributed to this, including instability in the market value of farms, policy changes that make farms more reliant on financial instruments, and shifts in the global positioning of farm land relative to other forms of property.
The commission has heard that local lending brokers were not qualified to value farm properties, and that farm valuations have become fluid and unpredictable.
Sometimes farms and farmland were deliberately overvalued. Higher values enable farmers to borrow more money for farm improvements, and the local lending branch manager to earn higher commissions.
Not only do the central administrators in banks lack the information and expertise to question these assessments, their business models have encouraged overvaluation and overborrowing as a means to grow their businesses.
Across the Murray Darling Basin banks have taken the separation of water from land – a precursor to the marketisation of water – as a cue to devalue land.
This has provided a reason to void existing loan agreements and to offer refinancing under more arduous conditions. Farmers have no option to refuse, and so borrow with the expectation that a couple of good years will put them back on track.
And if the good years don’t materialise, farms fall into financial stress.
This confronts a third issue, which is that in the bad years farms are harder to sell so their market value plummets. This compounds the problem.
Farmers are more reliant on banks
Policy changes have made farms more reliant on banks.
Since Australia adopted open-market policies in the 1980s and agricultural markets have become global, farmers have been exposed to global price changes.
The removal of single-desk marketing boards like the Australian Wheat Board, which protected farms from price fluctuations, increases the impact of price changes. Farmers are now expected to purchase financial products to reduce the risk of this volatility.
Drought assistance has also been reoriented to rely on market-based instruments, such as loans from banks rather than grants from governments. In the wake of the deregulation of the financial system, and the post-financial crisis consolidation of the farm lending sector, many farm-specific loan products have disappeared. So banks tend to treat farms as businesses like any other.
The open-market policies also create an imperative to expand landholdings (“get big or get out”) and to invest in the latest equipment and technologies. Since this requires borrowing, it thrusts farmers onto a credit treadmill.
Of course, low interest rates have also stimulated borrowing for farm expansion.
Increasing corporate control of farm inputs (seeds, fertiliser etc.) and outputs is squeezing farmers’ capacity to earn enough to service their loans.
To make matters worse, the declining terms of trade impel farmers to increase productivity just to stand still.
The farmers before the royal commission have mostly managed to stay on the treadmill, but only until the banks’ rule changes cranked up the speed to throw them off.
It’s clear that despite their crucial role, many banks still don’t really “get” the vagaries of farming. They don’t understand how different farm lending is – or should be – to commercial and housing lending. Neither do they seem to appreciate the broader social and economic dimensions of the role they have in managing farm risks.
Dramatic revisions to land valuations, as discussed in numerous cases described in the commission, can undermine an entire farming region’s equity.
The accelerated thinning out of the farming population impacts on local economies and sporting teams, among others. In the lead-up to and during the whole process of deregulation, farmers were continually reassured – in reports by the Productivity Commission, for example – that the credit market would evolve to meet their needs.
The evidence that the commission has heard in many respects represents a case of market – and regulatory – failure.
Since the global financial crisis, farm land has become an attractive investment for wealthy families and institutional investors, and for governments worried about food security.
As this pushes up land values, banks can be more aggressive towards failing farms. Foreclosures free up land for deep-pocketed investors.
It would be a mistake, then, to conclude that the stories coming out of the commission are an isolated issue relating to the one bank’s heavy-handed mopping up after the failure of a specialised rural lender – as was the case with ANZ and Landmark.
On the contrary, there are many stories of different banks imposing financial risk frameworks on farmers that are ill-equipped to accommodate the vagaries of farming production and pricing.
When farmers jest about being owned by the banks, they aren’t joking.
We should ask why the government took so long to acknowledge the problems of rural finance and the effects on farming communities.
After the commission concludes, it is likely that banks and regulators will tighten the risk parameters on farm lending and make it harder for smaller family farmers to access finance.
Vulnerable farms will not be able to borrow as much money as in the past. This might be prudent from a financial risk perspective.
However, if city bankers don’t understand farming and don’t make allowances for the volatile and uncertain economies of farming, there’s still no guarantee that tighter rules will translate into better decisions and more positive outcomes.
<img src="https://counter.theconversation.com/content/99086/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">Rather, tighter rules are likely to have uneven consequences, further disadvantaging smaller family farms relative to deep-pocketed agribusinesses. So, in effect, restricting credit is likely to accelerate the transfer of farmland from family farms to more corporate entities including transnational corporations.
Sally Weller, Reader, Australian Catholic University
Neil Argent, Professor of Rural Geography, University of New England
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/royal-commission-shows-bank-lenders-dont-get-farming-and-rural-economies-pay-the-price-99086" target="_blank">original article</a>.
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Royal commission shows bank lenders don't 'get' farming, and rural economies pay the price

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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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.

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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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