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The office market on the Sunshine Coast is heavily oversupplied due to a number of projects completed in 2017, according to the latest report by the valuation firm Herron Todd White (HTW).
They suggested it has led to a reduction in rental levels across the Sunshine Coast market over the past nine months for new tenants.
This oversupply was predominately in the Maroochydore area.
"We have generally seen all but the most prime tenancy areas in quality buildings with good views have reductions in effective rentals of circa 10% to 30%," HTW said.
The valuers suggested effective rents within A grade style premises on the Sunshine Coast were from circa $400/m² gross pa to circa $480/m² gross pa, "though have now fallen and the market remains volatile."
It had begun to impact on the traditional owner-occupier strata titled market, which generally has a value range from $3,500/sqm to $5,000/sqm depending on the location, size of the strata and overall quality.
HTW noted office sales over the past 12 months had begun to slow in this market as business owners have begun to look at the cost of owning or leasing and the quality of space that is available.
The largest of these developments, Kon Tiki in Maroochydore, is a mixed-use development with a range of retail uses to the ground level and medical uses within one of the two towers.
Kon Tiki is a mixed-use style development, the first of its type on the Sunshine Coast (above).
"While take-up of the office space has been slow, the majority of the lower level retail space is now taken up with the medical space also mostly taken up."
HTW forecast the new CBD development within Maroochydore will see further construction of large office complexes, but more in line with the mixed-use nature of developed CBD rather than the business park style developments that have been developed previously.
 
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j.ballantyne1990-6AQqhLzZaK

Kon Tiki sets the mix-use office trend for Sunshine Coast: HTW 

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The superannuation fund for the real estate industry has called for stricter controls on the establishment of self-managed superannuation funds (SMSFs) with small account balances.
It follows the release of the Productivity Commission’s draft report on superannuation, which finds that SMSFs with low account balances perform “significantly worse” than APRA regulated funds.
The Productivity Commission’s draft report confirms recent Australian Tax Office data on the performance of SMSFs, which show that very low balance SMSFs are unsustainable – often delivering negative returns – and that a lack of scale is a major risk to members.
REI Super is calling for new rules to make it harder for people with under $200,000 in their super to set up an SMSF.
The Productivity Commission’s draft report found that “many smaller SMSFs (those with balancesunder $1 million in assets) have delivered materially lower returns on average than larger SMSFs.”
It found that “costs for low-balance SMSFs are particularly high, and significantly more so than APRA-regulated funds. These high costs are the primary cause of the poor net returns experienced by small SMSFs on average.” 
It comes on top of devastating evidence before the Royal Commission into the Banking and Financial Services Industry earlier this month, of financial advisers pushing people with small superannuation balances into SMSFs, without considering whether or not it is in their best interest.
REI Super CEO Mal Smith said the ATO data showed that approximately one in five SMSFs have account balances of $200,000 or under. 
“This is a significant proportion of the superannuation industry to be subject to such considerable risk.
“The data is clear, and shows that you need an average of $2 million in your SMSF until you start to match the returns of APRA regulated funds.”
Mal Smith said the fund had recently spoken to several REI Super members who set up an SMSF, only to return to the fund after realising it was a mistake – due to low returns and hidden costs.
“One member with an account balance of $100,000 was advised to go into an SMSF by her accountant.
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“Another member was given bad advice and set up an SMSF with her husband with a combined account balance of $300,000.
“Like the other members we spoke to, they have returned to REI Super, where they have told us they are better off.
“They told us they were not prepared for how hard it was, how much time it took, and how much expertise was required to make informed investment decisions.”
Mal Smith said it shouldn’t be as easy as it is to set up an SMSF when good returns on low balances are on average not achieved.
“Changes to SMSF rules would help prevent financial advisers from encouraging people into an SMSF when it is not in their best interest.”
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REI Super calls for tougher regulation of low account balance SMSFs

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Marketing continues on the newest Docklands development, which is being described as Melbourne's new home of five-star living.
The project is the first Marriott to be built in Australia in 20 years.
Gone are the pre-conceived fittings of Marriott's of the past. The carpets and clunky furniture has been replaced by sleek designer inclusions and clean timber flooring.
The <a href="https://www.realestate.com.au/property-apartment-vic-docklands-127795066" target="_blank">Waterfront Way development</a> is wrapped in a translucent screen, with its curved glass facade providing views of the water and the city.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/6/12/marriott4.jpg" alt="">
DKO Architecture are designing the building that will comprise 100 one to three-bedroom apartments above a rectangular hotel podium, which sprouts into two curved petal-shaped towers of 17 levels each.
There will be 200 rooms in total when it opens in 2020.
Crowning the project is a 28 metre wet edge resort-style rooftop infinity swimming pool and adjoining bar.
<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/2018/4/26/docklands%202.jpg" alt="">
On the ground level there will be another bar, a restaurant and a laneway cafe. 
Developed by Capital Alliance, Marriott Docklands is part of the $250 million mixed-use The Docklands project.
Castran Gilbert South Yarra agent Mark Forytarz is handling the marketing. Castran Gilbert have a <a href="https://www.propertyobserver.com.au/component/content/article?id=82173" target="_blank">free e-book on property investment insights in Melbourne.</a>
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Marriott Docklands on Waterfront Way, Melbourne's new home of five-star living

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Queensland Treasury has warned of uncertainty in Brisbane's apartment market, especially if the southern markets of Sydney and Melbourne falter.
Both property taxes and mining royalties helped the Palaszczuk government revenue in yesterday's budget, with land tax receipts predicted to jump 11 per cent to $1.3 billion in 2018-19. Land tax thresholds have not been amended for a decade.
Stamp duty on transfers are estimated to rise 4 per cent to $3.2 billion, after a 5.7 per cent fall in 2017-18.
Payroll tax revenue was also expected to jump 5 per cent to $4.1 billion next financial year, with key sectors of construction, mining and manufacturing contributing to the growth, according to the budget papers.
Details revealed in Tuesday's Queensland budget indicate mining royalties are set to triple this year's expected surplus, rising from $485 million in the mid-year update to $1.51 billion.
"Domestically, uncertainty remains around the extent of oversupply in the apartment market, and any concurrent downturn in major southern capitals could exacerbate the downturn in Queensland," Treasury said in budget papers under "risks and opportunities".
Under the new taxes introduced in Tuesday's budget, foreign landowners will be slugged with an extra 0.5 per cent in land tax for properties worth more than $10 million plus an increase in the foreign transfer duty from 3 per cent to 7 per cent.
Both taxes will raise a total of $326 million over the next four years.
The First Home Owners Grant has been extended for another year, but reduced as foreshadowed to $15,000 and will not be extended to established homes.
The property sector received mixed news in the State Budget, handed down by Treasurer Jackie Trad, according to the REIQ.
“Taxing foreign buyers is a measure best suited to markets where affordability is an issue," the REIQ's chief Ms Antonia Mercorella said.
"That is not the case in Queensland."
“We have more than 550 suburbs throughout the state where the median house price is $500,000 or below and 132 of those suburbs are in Greater Brisbane.
"The REIQ was also disappointed that the State Government chose to drag its feet on stamp duty reform, ignoring expert advice that the stamp duty was a regressive, outdated form of property taxation that stifled housing mobility."
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Uncertainty looms as foreigners taxed higher in Queensland budget

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A Brisbane warehouse offering in Fortitude Valley has been sold for $2.7 million.
Listed as a trophy home blank canvas, it is set over three expansive open plan levels with approvals for a fourth level.
There is 377 square metres of internal floor area per level.
Access is via two street frontages, Wickham and Little streets.
The brick walls have that wear and tear too them that only time can render, Belle listing agent Ivo Kornel said.
"Build your dream New York Loft, walk out the front door and enjoy the buzzing nightlife," he suggests.
But likely options potentially include a night club, hotel and or a place for work.
It last sold at $1,825,000 in 2014.
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Fortitude Valley warehouse with night club or hotel conversion potential sold

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The Sydney office market is experiencing increased demand for non-traditional and traditional office space, according to the latest report from Herron Todd White (HTW).
The office market in Sydney has grown over the last 12 months as a result of increased demand for good investment assets, growth in rental income, stock reduction and generally lower vacancy rate, said the report. 
The valuation firms suggests large amounts of office stock have been removed either temporarily or permanently from the market.
The main reasons being residential conversions and redevelopment in the inner city.
Office stock withdrawals are set to outweigh new supply over the next 24 months, it forecast.
There has been an accompanying uplift in prices, an increase in rentals and a tightening of yields over the past 18 months in the North Western office markets, such as Chatswood, Macquarie Park and Norwest as well as other key office locations such as North Sydney (above) and Parramatta. 
Demand remains strong for good quality office space in the North Western office markets.
There is new development is centred around Parramatta, Norwest and Macquarie Park with improvements in infrastructure and continued growth of demand driving the market.
These areas have substantial new office developments underway or in the planning stages meaning more offices will be on the market from next year onwards.
Opportunities in emerging office markets also exist in other areas of Sydney.
The commercial centre of Liverpool is thought to be benefiting from the continued residential development in the southwest, proposed construction of the Badgerys Creek Airport and the extension of the Sydney Metro.
Areas that remain in demand and popular with owner occupiers and tenants are the inner city and city fringe areas such as Surry Hills, Alexandria, Woolloomooloo and Pyrmont.
The update concluded the outlook for Sydney’s office market looked "positive" for 2018 as demand continues to drive the market for both traditional type offices and more non-traditional options.
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Sydney office stock shrinking under increased demand: HTW 

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The Chatswood retail space, home to the former Fook Yuen Seafood Restaurant, has been listed for lease.
It is billed as unlocking a premier business opportunity in one of the North Shore’s most enviable locations. 
Fook Yuen, a Chatswood institution for more than three decades, closed its doors to its podium level restaurant at 7 Help Street in October last year. 
CBRE agents Amy Pfeiffer and James Beerworth have been appointed to lease the 941sqm space.
It is located inside the nine-storey building at the junction of Help and Railway streets.
"This high profile space could suit a large scale food &amp; beverage operation, fitness or education facility, medical user or office,” Ms Pfeiffer said.  
The property is offered for lease with 10 security car spaces and a single lockup garage.
The commercial grade kitchen has existing connections to grease and exhaust extraction, making it suitable as a future hospitality operation. 
“With an influx of restaurant operators from Sydney’s Chinatown looking to break into the Chatswood market, we expect there will be competitive interest in the offering,” Ms Pfeiffer added.  
 
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Chatswood restaurant Fook Yuen closes doors after three decades

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Office space in Melbourne’s iconic Tea House has become available for lease for the first time in four years as a growing number of businesses look for unconventional work environments.
Savills Australia’s Mathew Kent has been appointed to lease the prominent building at 28 Clarendon Street, Southbank.
It is anticipating interest from traditional corporate tenants, and the IT, insurance, interior design and fringe-based service sectors wanting to be close to the CBD.
“The Tea House has not been available since 2014 and since that time, there has been a surge in co-working business models, suite strategies, and employers wanting non-conventional office space for their employees,” Kent said.
“We have seen increased demand from tenants wanting to offer their employees an industrial-style office environment with exposed brick, creative break-out areas and a high standard of amenity – criteria that the Tea House meets, with the added charm of its heritage history.”
The building’s five floors are available for lease, with areas ranging from 567 square metres to 2,875 square metres, with the top floor offering a vaulted exposed ceiling and amazing natural light,” Kent said.
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Built in the late 1880s, the Tea House is best known for its stunning red brick facade and historic features.
“The landlord is now undertaking a major refurbishment to ensure the building meets today’s contemporary standards,” Kent said.
The new design will incorporate new lifts, a new ceiling grid, new lighting and new floor coverings.
Kent said the prime Southbank location, opposite the Crown entertainment complex and adjacent the Melbourne Convention and Exhibition Centre, would be a key drawcard for prospective tenants.
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Tea time for new tenants at the Tea House

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GUEST OBSERVATION
Traffic signals give priority to motor vehicles over pedestrians. This inequality undermines many of the stated goals of transport, health and environment policy.
State and city governments say they want to encourage walking and biking for many reasons:
- it is space efficient - it has less environmental impact - it is healthier - it is safer for other travellers - it reduces the numbers of cars on the road, so even motorists should be in favour of other people walking.
To help achieve these goals, road management agencies should reprioritise traffic signals to redistribute delays at intersections from pedestrians to cars.
Planners tend to focus on the long-term decisions, like infrastructure and land development. However, it is the shortest of short-term decisions, how many seconds of green light each movement gets at an intersection, that shapes perception of the feasibility of walking or driving to a destination at a given time. This influences the choice of route, destination and mode of travel.
Traffic signal timing involves maths, so has been historically delegated to engineers. But it also involves values and priorities, and so is the proper subject of public policy.
Since the early 20th-century dawn of what Peter Norton calls “Motordom, street space has steadily been regulated and enclosed. This has limited the rights and privileges of pedestrians while promoting those of drivers, in the name of safety and efficiency. But safety and efficiency for whom?
Pedestrians once crossed the street whenever and wherever they wanted. The introduction of signals prioritised the movement of motor vehicles at the expense of pedestrians, which slowed effective walking speed through the city. Pedestrians now spend roughly 20% of their time waiting at intersections. The consequences of making it easier to drive and harder to walk are consistent with the rise of vehicle-dominated cities.
<iframe src="https://www.youtube.com/embed/ZORzsubQA_M?wmode=transparent&amp;start=0" frameborder="0" width="440" height="260"></iframe>
How Barcelona is taking city streets back from cars.
How the phases of traffic signals work
Pedestrians take longer to cross streets than cars because they are slower. As a result, the "don’t walk” signal flashes before the light turns red.
<img src="https://images.theconversation.com/files/221495/original/file-20180604-177095-712qfo.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
 CC BY-ND
But at many intersections it is worse than that. Traffic signals are set to give less green time to pedestrians on a phase (from the time the light turns green to when it turns red, or from “walk” to “don’t walk”) than to motor vehicles, to give vehicles a protected left turn without having to yield pedestrians. Adaptive signal control also extends the green light for cars when these are detected, but not for pedestrians, who aren’t.
<img src="https://images.theconversation.com/files/221486/original/file-20180604-177111-oqxh1v.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
CC BY-SA
The average pedestrian arriving randomly at the intersection waits longer than a car. Several factors guarantee this.
<img src="https://images.theconversation.com/files/219524/original/file-20180518-26258-7p3zmj.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" alt="">
 Phases of traffic signals typically mean pedestrians wait longer than cars. Author provided
1. Cycle length
The cycle length (time from the start of the green light to the start of the next green) tends to be longer at busier intersections and busier times of day. A longer cycle length reduces the number of phases per hour, and thus reduces the lost time associated with each phase, when the intersection is not being effectively used by any approach. Lost time can never be reclaimed, so one understands why engineers might want longer cycle lengths if their main objective is to move cars.
However, long cycle lengths disadvantage pedestrians, who stand out in the open exposed to the elements and the exhaust emissions of cars, motorcycles, trucks and buses. Even more significantly, people consistently misperceive travel delay, so the wait feels even longer than it actually is.
2. Actuation/‘beg buttons’
While some signals are “fixed time”, modern signals are “actuated”. This means they respond to the presence of vehicles by adjusting the phasing and perhaps the cycle time.
Either a camera detects approaching vehicles or, more commonly, a sensor in the road, often a magnetic loop. This automatically allows the signal to stay green longer if it detects a vehicle approaching, or turn red sooner when there are no vehicles.
In contrast, for pedestrians, they must push a button to get a walk signal. If they arrive a second too late, they have to wait the entire cycle to get a walk signal. If there are many pedestrians, they don’t get a longer walk signal.
Pushing the “beg button” (so called as the pedestrian must request the signal) twice does not make it come faster or stay green longer. Ten, or a hundred, pedestrians do not make the “walk” light come faster either. The beg button is often positioned out of the way, requiring the pedestrian to walk further than would otherwise be required. A few seconds here, a few seconds there, add up.
There is a reason that traffic engineers don’t allocate automatic pedestrian phases. Suppose the car only warrants a six-second phase but a pedestrian requires 18 seconds to cross the street at a walking speed of 1 metre per second. Giving an automatic pedestrian phase even if there are no pedestrians will delay cars. And there is no sin worse than delaying a car.
3. Co-ordination
<img src="https://images.theconversation.com/files/219525/original/file-20180518-26277-1pxne8m.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" alt="">
A 1929 traffic engineer’s signal schedule and traffic flow diagram across Market Street, San Francisco (click to enlarge). Green wave set to 10.5mph (about 17km/h). City of San Francisco
First introduced in 1922 in New York City, traffic signal coordination aims to ensure vehicles arrive at the traffic signal when it is green, so they don’t have to stop. By correctly timing signals in sequence, platoons of vehicles move together through a “green wave”.
Let’s say the wave is set for a speed of 40km/h. As long as a car accelerates from the first signal to 40km/h and maintains that, it should hit the following lights on their green phase.
This is relatively easy to maintain on a single road, but is more difficult on a network, especially a complex, asymmetric network. It also works against the idea of actuation, as interruptions to the pattern (extending or contracting phases) change the window in which cars can hit a green light at a given speed.
Of course, just because cars can make a green wave at a speed of 40km/h doesn’t mean pedestrians will make a green wave unless they travel at exactly a divisor of 40km/h (e.g. exactly 5km/h) between intersections. This means that pedestrians will more likely wait at red lights at intersections timed for cars.
Policies to improve the life of pedestrians
One of the world’s most widely deployed traffic signal control systems, the Sydney Coordinated Adaptive Traffic System (SCATS), was developed in Australia. Just as Australia led the way in traffic control to move cars more smoothly, it should lead in pedestrian-oriented traffic control. Those concerned about pedestrians should insist on a number of steps:
<ul>
<li>pedestrians, like vehicles, should be counted automatically at controlled intersections</li>
<li>there should be a pedestrian phase for every movement</li>
<li>traffic signal algorithms must give equal or greater weight to pedestrian time than to vehicle time</li>
<li>pedestrians should get the maximum feasible green time on a phase, rather than the minimum, so pedestrians arriving when the light is green can take advantage of it, and slower pedestrians are not intimidated by cars</li>
<li>pedestrians should get a “leading interval” so they can step into the street on a “walk” signal before cars start to move on a green light, increasing their visibility to drivers</li>
<li>pedestrian phases should be automatic, even if no actuator is pushed – the actuator should make the pedestrian phase come sooner and last longer</li>
<li>many more intersections should have an all-pedestrian phase (known as a “Barnes Dance”) so pedestrians can cross intersections diagonally without having to wait twice.</li>
</ul>
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Pedestrians cross diagonally at some the world’s busiest intersections, including Oxford Circus in the heart of London since 2009.
Numerous other steps could be taken to improve the life of the pedestrian and thus increase their number. Certainly, we can demand more patience from drivers as well.
The advent of autonomous vehicles over the next few decades is unlikely, by itself, to eliminate the need for traffic control. But autonomous vehicles should help increase throughput at intersections, losing less time than human drivers, and leading to cars behaving far more safely.
David Levinson, Professor of Transport, 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/how-traffic-signals-favour-cars-and-discourage-walking-92675" target="_blank">original article</a>.
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How traffic signals favour cars and discourage walking

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A home at Warrnambool on Victoria’s southern coastline has just sold.
While the sale figure is undisclosed, it was advertised with a price guide of between $1.82 million and $2 million.
It was sold by Ian Baudinette from Harris &amp; Wood Real Estate,
It is a 2.5-hectare beachside block occupied by a four-bedroom house <a href="https://www.domain.com.au/9-logans-beach-road-warrnambool-vic-3280-2014292593" target="_blank">located at 9 Logans Beach Road, Warrnambool</a>.
The house comes with four bedrooms, four separate living areas, spa bathroom, updated kitchen with stone bench tops and double garage. 
<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/2018/6/12/WARRANAMBOOL%201.jpg" alt="">
It also features ocean views, stunning Northerly aspects and direct access to the beach.
This is the only property west of the whale viewing platform with a high water mark title.
The suburb's median house price sits on<a href="https://www.domain.com.au/9-logans-beach-road-warrnambool-vic-3280-2014292593" target="_blank"> $329,000</a>, according to CoreLogic. 
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Seaside Warrnambool trophy home with high water mark title sold

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

Joel Robinson

Boutique Gordon townhomes now come with a BMW iX3 50

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

Vitale breaks Byron Bay records with EADE sales flurry 

When buying an apartment, most people compare the big-ticket items first. Floorplans. Kitchens. Balcony size. Natural light. The view.

But there's one everyday consideration that often doesn't come up until after moving in: how parcels are delivered.

As online shopping has become part of everyday life, parcel deliveries have shifted from an occasional event to a regular occurrence. Australians spent a record $82.6 billion shopping online in 2025, with almost one in every four retail dollars now spent digitally.

For apartment residents, that can present a challenge.

If nobody is home to accept a delivery, parcels may be redirected to a nearby Post Office, left in a building lobby or common area, or require building management to step in. In higher-density buildings, where dozens or even hundreds of residents may receive deliveries each day, parcel management has become an increasingly important part of everyday living.

That can create a range of frustrations. A missed delivery often means making time to collect a parcel elsewhere, while packages left unattended in foyers or mail areas can create clutter and increase the risk of theft. What seems like a minor inconvenience can quickly become a recurring issue for residents who shop online regularly.

It's one of those details that rarely features in a display suite but can have a noticeable impact once residents move in.

As a result, buyers are beginning to look beyond traditional apartment features and consider how a building supports day-to-day convenience, including whether there are secure options for receiving deliveries.

Australia Post's Parcel Lockers provide one solution.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/CkF2oKmlACg?si=C50sDaoUUn2nuLmq" title="YouTube video player" width="560"></iframe>

Rather than having a parcel delivered directly to an apartment, eligible deliveries can be sent to a nominated Parcel Locker. Once the parcel arrives, residents receive a notification through the AusPost app or SMS and can collect it using a QR code or one-time PIN at a time that suits them.

The Parcel Locker network now includes more than 1,500 locations nationwide, with installations at Post Offices, shopping centres, transport hubs and an increasing number of residential developments. By providing a secure collection point, Parcel Lockers help reduce missed deliveries and avoid parcels being left unattended in common areas.

For developers, parcel infrastructure is becoming another way to improve the resident experience. Rather than relying on concierge staff or leaving parcels in communal spaces, secure collection points help streamline deliveries while preserving the presentation and functionality of shared areas.

For buyers, it's a reminder that the best apartment features aren't always the most obvious.

A generous floorplan or quality finishes might help narrow the shortlist, but the conveniences that simplify everyday life, whether that's EV charging, secure bike storage or reliable parcel delivery, often become the features residents appreciate most once they're living there.

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

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

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

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

Staff reporter

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