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A retail property leased to The Good Guys in Warrawong, New South Wales, has been sold to a local investor for $7.15 million.
The new owner would be holding the site as an investment, with the current lease having about three-and-a-half years left to run, plus a five-year option.
Savills Australia’s Clinton Baxter, Nick Peden and Jesse Radisich brokered the deal for 75-89 King Street on behalf of AFR Rich Lister, Andrew Muir, whose father founded The Good Guys.
The consumer electronics retail chain was subsequently sold to JB Hi-Fi for $880 million in 2016.
“We are witnessing renewed strength and confidence in the large format retail sector, as investors continue to digest the presence of Amazon in Australia,” Baxter said.
The sale finalises Savills Australia’s brokerage of a $150 million portfolio of properties leased to The Good Guys across Australia.
The Muir family put the portfolio of 15 stores up for sale in April 2017 with expectations of about $130 million after selling the chain to JB Hi-Fi in 2016 for $870 million.
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Good Guys store at Warrawong sold to local investor

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GUEST OBSERVATION
If you think your local supermarket is shrinking, you might be right.
Coles has announced that it will open smaller-sized supermarkets in more locations. This follows the lead taken by other large retailers such as Woolworths, Harris Scarfe and Target.
Australia’s growing population may mean more customers, but it is also putting pressure on available real estate for retailers. As population density increases, mostly in urbanised areas, many retailers are shrinking to grow.
The blame for recent store closures has fallen mainly on Amazon and other global players entering the Australian market.
However, high rents, a lack of prime real estate, and rising inventory costs and wages have also contributed to the need to downsize.
Shrinking to grow
Retailers have responded to increased costs and competition in two ways: either by “rightsizing” - closing underperforming and unprofitable locations as Myer has done, or by “downsizing” - shrinking their store footprints.
Smaller store formats allow retailers to maintain a bricks-and-mortar presence at a more affordable cost.
Several established firms, as well as retail start-ups, are taking the small store trend a step further by opening “micro” stores.
Some retailers are also cleverly using smaller shopfronts as “click and collect” points for their online customers.
Smaller stores equal smaller rents. Retail rents are charged per square metre, meaning the bigger the store, the higher the rent.
To put it in perspective, while global retailers seek retail sites from anywhere between 7,500 square metres (Lululemon Athletica) to 40,000 square metres (Uniqlo), smaller stores typically measure around 600 square metres which is around a quarter of the size of the average supermarket.
Prime location retail rents continue to increase due to lack of available space and strong demand from overseas retailers such as Zara and H&amp;M, who are happy to pay up to A$20,000 per square metre per year to shore up key inner city locations.
Industry reports indicate that the Sydney CBD remains the most expensive for retailers, with an average of A$13,335 per square metre per year. Melbourne’s CBD is half the cost at A$6,670, Brisbane is A$4,704, Adelaide is A$4,000-5,000 and Perth is nearly A$4,000 per square metre per year.
Annual average rents in trendy inner-city suburbs, like Surry Hills and Wooloomooloo in Sydney, come in at almost A$14,000 per square metre.
So if you have a very small 80 square metre convenience store in a prime Sydney CBD location, your annual rent bill will be a little over A$1 million.
Going smaller can open up new, and often better, locations. As some real estate analysts noted last year, “with the current environment characterised by a lack of premium retail investment offerings” retailers are increasingly finding it difficult to snap up prime locations.
Going smaller therefore opens up more opportunities) for retailers to capitalise on prime locations, particularly in highly populated and affluent inner-urban and suburburban areas.
But there are other benefits too, such as less inventory, which also means less discounting. Smaller stores also require fewer staff, and less cleaning and maintenance.
What are the benefits for consumers?
Research shows that customers are increasingly suffering from choice overload, also known as the “tyranny of choice”.
This is particularly so for online shoppers and for those browsing the aisles in superstores, department stores and large chain stores. A limited product offering, in a much smaller space, helps consumers make decisions more easily, and appeals to those shoppers who are primarily looking for “convenience”.
Small stores appeal directly to a growing number of affluent baby boomers and millennials who shop more frequently with smaller basket sizes. These shoppers demand personalisation, special services and quality products.
Because small retailers have less inventory, they are able to turn stock over, replenish and refresh products at a much faster pace than their larger rivals. They can promise new items arriving in store at shorter intervals. The lure of “newness” is a very attractive prospect for shoppers.
Are smaller stores here to stay?
In 2018 and beyond, retailing will continue to evolve. Retailers have always had to adapt to meet changing consumer demands, advances in technology and the like.
A sure sign that physical retail is still alive and well is evident in the growing number of online retailers and established brands that are opening physical stores to complement their online offerings.
<img src="https://counter.theconversation.com/content/98246/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">Just as pop-up retailing has cemented itself in the retail landscape, smaller stores are also likely to become a significant long-term strategic proposition for the retail industry, where it is now “big to be small”.
Louise Grimmer, Lecturer in Marketing, Tasmanian School of Business and Economics, University of Tasmania
Gary Mortimer, Associate Professor in Marketing and International Business, Queensland University of Technology
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/honey-i-shrunk-the-store-why-your-local-supermarket-is-getting-smaller-98246" target="_blank">original article</a>.
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Why your local supermarket is getting smaller

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A new ground floor lobby commissioned by Charter Hall, has transformed the building into a community hub.
The occupants were given charge of the design, activities and offerings at 65 Berry Street in North Sydney.
It includes a ‘Wellness Area’ with complimentary yoga and pilates, an auditorium which can be hired for events and used by tenants free of charge, North Sydney’s only Not For Profit café, an artists studio and a variety of events including Wellness Weeks, after work drinks and morning teas.  
“It’s exciting to see landlords going to extra lengths to attract and retain tenants,” said Michael Arcus, director office leasing at Colliers International. 
The ground floor at 65 Berry Street originally contained a series of offices (approx. 1000sqm) which has been redesigned into a collaborative lobby space. 
Architects WMK responded with a beautiful minimalist design incorporating a wellness area, artists studio, exhibition space, auditorium and communal environment.
Symbol Café , a Not-For-Profit café – the only one of its kind operating in North Sydney – which donates 100% of its profits back to the community. 
Symbol has a menu of locally-sourced, sustainable and organic food.
On payment, customers simply choose a charity to donate to causes like Ozharvest, Greenfleet and Eat Up, and can see these contributions displayed on a board at the café. 
“A Not-For-Profit cafe is an extremely rare entity – I have never leased anything of this nature throughout my 15 of years in the industry,” Michael Arcus said.
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The lobby at 65 Berry Street is also home to Project 504, a collaborative artist’s studio sponsored by Charter Hall which has been established to provide an outlet for artists to showcase their work outside the mainstream gallery scene, offering artists a supportive creative working environment.
The paintings, some of which have been showcased at the Archibald, are displayed in the lobby. 
<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/2018/6/18/65%20Berry%20Street%203.jpg" alt=""> 
 
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Tenants inspire new lobby at Charter Hall's 65 Berry Street, North Sydney

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Townsville commercial property market continues consistent upward trend.
The remainder of 2018 is likely to remain status quo in the Townsville commercial property market with overall confidence and market sentiment positive, according to the latest report from Heron Todd White.
The inner city remain buoyant with inner-city projects including the Townsville Stadium and proposed waterfront precinct being "positive factors".
The valuers at HTW stated that "the present market is highly suburb selective, with reasonable turnover levels in the sought after mid to inner suburbs, but patchy sales in other areas and suburbs with perceived social issues."
During 2018, the trending rental vacancy rate has remained in a "balanced market range" with the overall trend vacancy rate at just over 3%.
This is significantly lower than the prevailing trend in vacancy rate for the similar period of 2017 at 5.52%.
The unit market is currently steady, albeit at low volumes, with some resistance still being experienced due to the holding costs associated with unit ownership including body corporate fees and high insurance costs.
The report forecasts that the remainder of 2018 will remain similar to what we has been seen to date, with any changes to demand or sentiment heavily reliant on factors such as unemployment, job security and population growth.
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Townsville commercial property market continues consistent upward trend: HTW 

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Strong sales have been achieved in Melbourne’s Box Hill following the sale of a block of adjoining offices for $10.85 million.
CBRE sold a 1,220sqm landholding at 25-29 Ellingworth Parade, which comprises three office buildings.
CBRE Victorian Development Sites Manager Chao Zhang, who has been selling development sites in the City of Whitehorse since 2015, said the success of well-known Chinese and local developers in the area is fueling confidence amongst buyers.
“The Asian demographic is a significant catalyst for the continued interest by local and new off-shore Asian developers in the area” said Mr Zhang.
“Box Hill is the centre piece of the City of Whitehorse in Melbourne’s eastern suburbs. It's council has also been working alongside local and international developers that working on landmark developments.”
There 1,161 apartments under construction in Box Hill, and four more projects being built or currently permitted, joining the 30-storey Whitehorse Towers development in the central activity centre.
CBRE Director Scott Orchard said the sale reflected the strongest land rate achieved this year in Box Hill for a development site.
“The Box Hill activity centre represents a range of different development opportunities given the differing height potential in various locations."
"However, the Ellingworth Parade sale of approximately $9,000sqm on land represents the strongest land rate achieved in Box Hill when analysed in context to the height potential,” stated Mr Orchard
Mr Orchard concluded that appetite for commercial office properties in Box Hill is also incredibly healthy.
“The 25-29 Ellingworth Parade sale is the second recent office sale with 18-20 Prospect Street also transacting to a local Chinese buyer.
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Strong sale achieved in Melbourne's Box Hill

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A 1,100sqm Fitzroy corner building in Melbourne’s inner-north has been sold to international volunteering organisation AVI, which will move its headquarters to the building from nearby Kerr Street.
Fitzroys Director, David Bourke and Manager, Terence Yeh, together with Rodney Morley Real Estate’s Rodney Morley and Naomi Dorevitch, sold the 160 Johnston Street property under the hammer for $5.050 million.
It marked the first time the vendors, a private local family, had put the property to the market in half a century.
The 579sqm site is between the bustling Brunswick Street and Smith Street hospitality and lifestyle precincts, and has frontages of more than 20m to busy Johnston Street and more than 28m to Hertford Street.
It has a two-level office and showroom building with onsite parking, and traded with a holding income of $110,732 per annum.
Yeh said the property’s attractive Commercial 1 zoning saw strong enquiry from investors, owner occupiers and developers, with more than 120 enquiries received during the campaign and strong competition in front of a large crowd at auction.
In close collaboration with the Australian government, AVI - initially Australian Volunteers International - has been at the forefront of volunteering initiatives since sending the world’s first international volunteer to Jakarta in 1951.
Last year, it was selected to deliver to the Department of Foreign Affairs and Trade’s new Australian Volunteers program, which began at the start of this year, as part of a consortium with Cardno and The Whitelum Group.
Another not-for-profit agency has purchased an office building, this time in Fitzroy.
The deal leaves AVI in front from two property disposals in 2016 and April which banked a total of $15.1 million, former headquarters at 71-75 Argyle Street and 88 Kerr Street.
The property's Commercial 1 zoning (which would allow for the construction of apartments) generated more than 120 inquiries.
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AVI stays local after securing Fitzroy corner site 

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Knight Frank has announced a new Australian partnership structure 
Knight Frank Australia has announced a new partnership structure, with all Senior Directors, Group Directors, Service Line Leaders and Managing Directors becoming ‘Partners’ as of 1 July 2018.
Knight Frank Australia’s Chief Executive Officer, Stephen Ellis, said the partnership program has been a long time in the making and is modeled on the firm’s UK scheme.
“Knight Frank has always held a distinctive position in the Australian property industry as the only global, privately-owned real estate services provider without external shareholders, and we now have an opportunity to amplify our true strengths by differentiating ourselves from our competitors.  
“I am excited by the new ‘Partner Program’ which will become a key element of our leadership plan. It will be the foundation block for sustained success and unite the leadership team with a mutual accomplishment and entrepreneurial focus,” said Mr Ellis.
Around 80 senior leaders at Knight Frank Australia will becomes partners at the outset of this program.
“The UK has a track record proving the partnership structure is a key appointment, recruitment and retention tool,” concluded Mr Ellis.
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Knight Frank announces new Australian partnership structure

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Lifestyle clothing brand Mister Zimi has taken a lease of an office and warehouse facility at Prahran in Melbourne’s inner east.
Teska Carson’s Jack Kelliher, who brokered the 3-7 Walker Street deal, with Luke Bisset, said the two level, 880 square metre, premises was let at $160,000 per annum net.
It was on a five year term with a five year option.
He said the property offered a very flexible premises in a sought after inner city location.
"This was a great opportunity to secure a unique and very functional property in a prime location just off Chapel Street in the heart of Prahran and within walking distance of public transport and a range of lifestyle amenities,’’ Mr Kelliher said.
He said the tenant was attracted to the utility and adaptability of the two level space in a location which offered accessibility and close proximity to all necessary services and amenities as well as clients and staff.
The lessor is a Melbourne based private investor. 
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Mister Zimi clothing brand takes Prahran lease

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GUEST OBSERVATION
We live in an urban world. By 2030, 66% of the world’s population will live in cities, concentrated in only 3% of the planet’s land area. But city sizes vary greatly, so what can city size tell us about their residents’ quality of life?
Our new research shows that city size and population distribution matter when the priorities are access to amenities and equality of opportunities and outcomes – and not just economic growth. Larger cities are associated with greater inequality in both Australia and the United States. This is because a concentration of high incomes and wealth in the biggest cities flows on to spatial justice issues such as high housing costs and poor access to amenities for lower-income residents.
This suggests planning must focus on the development of cities of all sizes, not just the largest ones.
Further, development and growth should be measured not only in aggregative ways, such as the gross domestic product (GDP), but in ways that show how well this is distributed – such as distributions of income, housing stock and access to services. A massive global city, with a rising share of the nation’s GDP, but with segregation between rich and poor, and unaffordable housing and long commuting hours for most, should fare very poorly on such measures.
Why the focus on larger cities?
The development of ever-larger cities is a global phenomenon. In Australia, both Sydney and Melbourne are projected to have populations of 8 million by mid-century.
Large cities are often said to be innovation drivers, wealth producers, the economic engines of the country. The focus on large cities’ wealth generation and agglomeration economies – the benefits when firms and people come together in cities – means the distributive aspects are neglected. In our previous research, we found larger cities have more unequal income distribution.
The largest cities have disproportionate numbers of high-income earners. It’s not just a matter of large income gaps between rich and poor. High-income earners also push out or displace low-income earners.
Empirical evidence indicates that traditional metrics fail to capture the reality of these displacements and expulsions.
So how do Australian and US cities compare?
In our new research, we analysed all cities across Australia and the United States. Across both countries, larger cities were much more likely to have disproportionately high concentrations of high-income earners and disproportionately high housing costs.
We tested this finding by the geography of concentration. Using a measure called the location quotient (LQ), we compared the local city-wide proportion of people in each income or housing cost category to the same proportion nationally. A higher LQ implies greater local concentrations of a particular category in comparison to the national average proportion: note the starkly different signatures for the largest and smallest cities below. Sydney, specifically, is a very poor performer.
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Source: Author calculations from 2011 Census data. All 19 ABS 2011 rent categories are shown, lowest ($1-$74 per week) to highest (&gt; $650 per week). In the largest cities, the higher rent categories show high location quotients, meaning larger cities concentrate higher numbers of households in high rent categories. Adelaide is an exception. Melbourne is performing better than Sydney.
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Source: Author calculations from 2011 Census data. All 19 ABS 2011 rent categories are shown, lowest ($1-$74 per week) to highest (&gt; $650 per week).
But isn’t this a tautology? Larger cities have always had higher living costs, haven’t they? Two very subtle effects, that even an established measure of inequality like the Gini coefficient would miss, exist.
First, if high-income residents push out low-income residents, then the Gini won’t show this. But the fact there are no poor people left to measure is a sign of heightened inequities.
Second, large cities do not seem to be generating harmful consequences for everyone. Only lower-income earners face this disadvantage, since a low-income person in a large, high-cost city is worse off than a high-income earner in the same city and than all other earners in smaller or medium-sized cities.
However, since the largest cities have the best amenities and services, the best is available only to the richest.
What are the implications of these findings?
The research points to a need for some conceptual changes.
1. Reconceptualise inequality
Instead of the narrower term “income inequality”, inequality should be thought as the differential in individuals’ access to the resources, amenities and abilities needed for their wellbeing. Larger, more expensive cities must be disproportionately responsible for ensuring this access is affordable for all residents, not just high-income earners.
2. Recharacterise supply and demand
Large cities make the mismatch of housing supply to specific pockets of demand worse: housing as basic need clashes with housing as economic investment.
The high supply of mansions, luxury apartments and investment properties is inaccessible for living in if you don’t earn enough. It also enables wealth accumulation in a few hands. In addition, high-income earners with the ability to pay for a resource will inflate prices, further reducing affordability for low-income earners.
Thus, the (in)ability to pay for housing becomes a decisive factor in shaping wellbeing for residents of large cities.
Larger cities have a greater responsibility for correcting this mismatch between supply and demand.
3. Rethink planning and design
These developments affect the ability of communities to have a real say in the design and planning of cities. A community dominated by high-income earners is unlikely to make choices that represent the needs and wants of everyone. The absence of low-income earners in decision-making is likely to contribute to conditions such as segregation, displacement or polarisation.
When a city crosses a threshold where incomes of a few and living costs for all begin to rise disproportionately, affordability, accessibility and socio-spatial justice become important urban policy issues.
A greater spread of city sizes offer a way forward
Geoffrey West, in his book Scale, writes: "The great metropolises of the world facilitate human interaction, creating that indefinable buzz and soul that is the wellspring of its innovation and excitement and a major contributor to its resilience and success."
However, these great metropolises are also where we see the deepest troughs of poverty and injustice. A larger number of cities of varying sizes, with a diversity-specialisation balance of economic functions, could maintain the variation needed for innovative and, more importantly, equitable growth.
In terms of absolute population numbers, cities like Tokyo, Shanghai and Delhi each house populations larger than the entire population of Australia: it’s not the total population that is of concern, but its distribution. Australia has a “missing middle” of cities: many small cities of up to half-a-million, almost no medium-sized cities (half to one million), three large cities and two very large cities. Nearly 40% of Australians live in Sydney and Melbourne.
Our findings suggest a super-concentration of the population in very few mega-urban regions is undesirable. Instead, we must plan for cities of all sizes, increasing people’s choices of where to live and work. It is critical to plan for equitable growth of cities where, regardless of income, everyone can have a decent quality of life.
Somwrita Sarkar, Senior Lecturer in Design and Computation, University of Sydney
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/aim-for-cities-of-all-sizes-to-give-everyone-a-fair-go-94657" target="_blank">original article</a>.
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Aim for cities of all sizes to give everyone a fair go: Somwrita Sarkar

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The property at 1 Kilmore Road, Gisborne, has been listed for sale.
The 2.1 hectare property comes with a dilapidated 1840s hotel.
It is on the market for $1,395,000.
Macedon House at <a href="https://www.realestate.com.au/property-residential+land-vic-gisborne-202131722" target="_blank">1 Kilmore Road</a> is because it is a rare surviving example of an early Victorian hotel, according to Heritage Council Victoria. 
The rendered bluestone building retains a host of original features, including the hardwood-framed roof, chimneys, sash widows and timber mouldings.
The building sits about 500 metres from the township.
The property was at the gateway to Gisborne.
It is offered through Rodney Morley agent Rodney Morley.
The property is located in a road and rural conservation zone on two titles made up of eight allotments.
It has 214 metre frontage to Melbourne Road.
It has attracted buyers wanting to establish a retirement village, Morley noted.
It is believed to have been built for Elizabeth and Thomas Gordon as the Mount Macedon Hotel.
The hotel changed hands over the years, also including a blacksmith’s business from 1863 to 1867.
From the 1880s, it became a boarding and guest house for many years.
During the 20th century it has been a private house, restaurant, reception centre, bowling clubhouse and school.
<img src="https://www.realestate.com.au/blog/images/1600x1600-fit,progressive/2018/06/13160008/capi_6333670f8c0e3755ba65c089a51f5786_4e3c11e7eecbc10c596e9d8a1034b2ba.jpeg" alt="1 Kilmore Rd, Gisborne, Sunbury Leader real estate" data-capiid="4e3c11e7eecbc10c596e9d8a1034b2ba">
Photo: Heritage Victoria
The property also includes significant trees including monterey cypresses, an Irish strawberry tree and English oak trees.
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Retirement village mooted for 1840s Gisborne hotel site, Macedon House 

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.

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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.

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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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