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Property market values in Darwin have proven extremely resilient over the last three months, according to CoreLogic.   
“It is very encouraging Darwin’s property values are up nearly 2.5% over the last quarter. But realistically, the only way is up when the market has been skating along the bottom,” advised Glenn Grantham, general manager, Raine &amp; Horne Darwin. 
He noted volumes are significantly smaller than other capitals.
"One or two major transactions can impact median values in Darwin.
"Also, some of these contracts exchanged before lockdown restrictions applied.” 
Grantham continued, “Due to COVID-19, there is a shortage of listings in Darwin, which is helping to support values.”
On the demand side, Grantham says the Northern Territory’s low infection rate of 0.4% has caught the eye of interstate investors and downsizers.  
“Buying enquiries from interstate are much higher than earlier in 2020, but with our borders still closed, local owner-occupiers are dominating our sales transactions.”
Grantham said the most popular property in May was an elevated, three-bedroom house at <a href="https://www.raineandhorne.com.au/darwin/properties/21-graham-street-stuart-park-820-northern-territory" target="_blank">21 Graham Street, Stuart Park</a> (pictured below), which is on the market for offers over $590,000.   
<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/2020/5/25/stuart%20park.jpg" alt="">
“We’re negotiating with three buyers, while 25 groups viewed the property by way of individual appointments in accordance with COVID-19 protocols.  
Border closures are impacting contract negotiations, advised Grantham.
“We have an owner of a two-bedroom apartment in Parap, who hasn’t yet been able to make it back across the border to pack up his home.
“Once the owner returns to Darwin, he then has to self-isolate for two weeks in the apartment. 
The sticking point for the buyer is the settlement date, which depends on the vendor negotiating with border control to let him back into the Territory. We are still waiting to see how this plays out.”
The capital city’s investment markets are also holding steady with median yields at 6% and vacancy rates at 4%, according to Grantham. 
“With restrictions in place, people can’t move away from Darwin, and this situation is keeping our rental market steady. 
“Likewise, JobKeeper has helped significantly ensuring we’ve had minimal hardship requests from tenants.”
Raine &amp; Horne Darwin found a buyer for a house at <a href="https://www.realestate.com.au/property/80-francesca-cct-virginia-nt-0822" target="_blank">80 Francesca Circuit Humpty Doo</a> off-market in just three days last month. 
“The five-acre rural property is under contract for a price in the $500,000s, which was spot on our expectations,” Mr Grantham said. 
“We have been selling eight to ten properties a month at this time of year in recent times. 
“With values relatively stable and sales continuing to tick over, property markets in the Northern Territory seem relatively steady against the effects of the pandemic.” 
Interstate buyers are still a significant factor in sales enquiries and are taking advantage of virtual technologies to conduct property inspections, Mr Grantham noted.
“Virtual inspection technologies are assisting the marketing of 80 per cent of sales listings and 95 per cent of our rental stock.”
Darwin’s rental market metrics are also steady with vacancy rates of four per cent the same as earlier in 2020.
Although Mr Grantham noted COVID-19 has directly impacted the rental market.
“We have recorded a 50 per cent reduction in new tenancies because border closures have kept interstate workers who usually move here for work at home.”
However, a 50 per cent reduction in tenant vacates has offset the fall in new tenancies.  
Mr Grantham says rental arrears have only increased marginally from six to seven per cent in April.
“Also, only three per cent of our tenants have made hardship applications seeking rental reductions.
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j.ballantyne1990-6AQqhLzZaK

COVID-19 safe keeps Darwin real estate intact

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Crown Resorts marked a milestone for its Crown Sydney development on May 22. 
The ‘topping out’ of the building marked the completion of vertical construction for the 275-metre-high hotel resort and residences. 
The building, designed by world renowned architects WilkinsonEyre, is set to change the city’s skyline as well as create over 2,000 jobs in NSW. 
The 'topping out' was marked by a short site visit by the NSW Treasurer, The Hon Dominic Perrottet MP due to COVID-19 social distancing requirements. 
Alongside the Treasurer, was Crown’s Chair, The Hon Helen Coonan, Crown’s Chief Executive Officer, Ken Barton, Crown’s Executive Vice President - Strategy and Development, Todd Nisbet and Group Chief Executive Officer and Managing Director of Lendlease, Steve McCann. 
The continuation of the construction industry in NSW has enabled the site to keep over 1,300 workers employed daily.
There has been almost four million hours of work having taken place during the construction phase in total. 
Ken Barton, Chief Executive Officer of Crown, said: “The COVID-19 pandemic has presented Crown with many challenges and has required us to make some difficult decisions. We are grateful for the NSW government’s decision to keep the construction industry open with strict COVID-19 measures in place. 
"Not only has this supported over 1,300 jobs at our site at a time of great economic uncertainty, it also keeps us on track to provide over 2,000 more jobs when we open.”
Steve McCann, Group Chief Executive Officer and Managing Director of Lendlease, said: “When complete, the transformation of Barangaroo from a disused industrial site to world-class urbanisation precinct will deliver to the people of NSW a once-in-a-generation integrated residential, office, entertainment, transport and leisure destination.  
Crown Sydney will open its 349-room hotel in December 2020, alongside 14 restaurants and bars, and select retail. 
Homeowners at Crown Residences at One Barangaroo, located in the upper floors of the building, are on schedule to move into the building in the first half of 2021.  
Over 1,300 people will continue to work on the interior fit-out of Crown Sydney throughout the remainder of 2020. 
To date:  
<ul type="disc">
<li>Almost 8,000 of the 10,000 glass panels have been placed on the building’s exterior</li>
<li>Almost 237,888 tonnes of concrete have been poured </li>
<li>Over 20,000 tonnes of steel reinforcement and steel structure have been put in place </li>
<li>Over 100 suppliers have been involved in its construction with over 97% of suppliers being local providers operating in NSW and around Australia </li>
<li>Crown has remediated 220,000 tonnes of contaminated material as part of the redevelopment of its site and has contributed to the clean-up and remediation of the Barangaroo precinct throughout the build </li>
</ul>
By the end of fit-out there will be: 
<ul type="disc">
<li>50 different types of marble and stone used throughout the building </li>
<li>The hotel will feature crystal light installations, including 50 custom made designs </li>
<li>Around 1,800 artworks will be installed, 70% of which are by Australian artists </li>
<li>Over 50,000 shrubs and 300 trees grown in local nurseries will be installed</li>
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Crown Sydney tops out after four years in construction

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Agent Stefon Bertram has joined Belle Property Mosman as a partner in the business alongside long-serving principal Tim Foote. 
Bertram, who has been in real estate for more than a decade, built a name for himself at his previous agency, McGrath Ryde, ranking in the Top 100 agents in Australia for the past four years.
He currently ranked 17th in the country and ranked as one of McGrath’s top five agents, nation-wide.  
Belle Property Mosman, Tim Foote said Stefon was the first key partner in the Mosman-based business.
He took ownership of Belle Property Mosman in 2007.
"Our partnership with Stefon is our next stepping stone,” said Foote. 
Belle Property CEO, Peter Hanscomb said he is thrilled to welcome Stefon.
Bertram thanked his clients in an email from McGrath for their support since his start in the area in 2007.
"Over the years I have helped over 1000 locals with their property goals either buying or selling.
"I trust all my clients are in excellent hands assisted by my former business partners Michael Dowling and James Jin."
"When the opportunity came up to become a key partner at Belle Property Mosman lead by one of the most trusted names in real estate across the past 20 years being ‘Tim Foote’ this made a difficult decision feel right."
Bertram finished his time at McGrath in their Top 5 Agents Australia-wide. 
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Stefon Bertram joins Belle Property Mosman

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Western Sydney real estate group, Starr Partners, has announced it will open a new office in Parramatta next month.
The new office, located at 4/459-463 Church Street, Parramatta, will be open from 1 June.
It will led by a team of Starr Partners professionals who have an unsurpassed knowledge of the western Sydney property market. 
Currently managing the Starr Partners’ Blacktown office, Daniel Formosa will become the office’s Managing Director and Mark Vella its Licensee. Together, they have more than 35 years’ real estate experience. 
Their team will comprise husband-and-wife duo Greg Okladnikov and Antoinette Davino, who currently manage Starr Partners’ Auburn and Narellan offices with 29 years’ combined experience. Elise Nusco, an experienced new business and operations manager, will also join its ranks. 
Daniel says the decision to open an office in Parramatta was motivated by key developments in the suburb and its surrounds. 
Due for completion in 2022, the construction of the $3.2 billion Parramatta Square precinct, one of the largest urban renewal projects in the country, will transform the heart of Parramatta’s CBD into a vibrant commercial and residential precinct.<a name="x__ftnref1" href="https://outlook.office.com/mail/#_ftn1"></a> 
The future Western Sydney Airport at Badgerys Creek, the Parramatta Light Rail, and the Blacktown Hospital redevelopment, will also lead to economic, social, and employment benefits for residents in the area.
“Today, Parramatta is the cultural centre of Western Sydney, with a sensational art and dining scene, and excellent infrastructure, including train and ferry access to Sydney,” says Daniel. 
With the population of the City of Parramatta expected to increase by more than 250,000 people in the next 20 years.
“The Parramatta property market is very robust with strong demand from first home buyers and families for both its mixed-use apartments close to Parramatta Square and leafier, suburban homes,” says Daniel.
“I believe that traffic congestion, overcrowding and a lack of open spaces in the inner suburbs of Sydney is motivating people to change their living arrangements according to their priorities. North Parramatta offers first-home buyers the chance to invest in a little more space, well connected to Parramatta’s CBD by Church Street and a burgeoning dining scene.”  
 
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Real estate group Starr Partners opening office in Parramatta

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EXPERT OBSERVER 
As the public health response to supress the COVID-19 virus ramps up, so to does the economic fallout. Shutdowns and enforced spatial distancing are necessary to try to prevent hospital intensive care units becoming overwhelmed.
But businesses on the economic frontline – those shut or soon to be shut down by the public health restrictions – need immediate help to get through.
The necessary temporary hit to business incomes need not become a permanent hit to productive capacity. We should not risk a large swathe of shops, cafes, pubs, hotels, gyms, and hairdressers going to the wall.
Most of these frontline businesses have seen their income dry up overnight. Some have temporarily closed, others are <a href="https://www.goodfood.com.au/eat-out/news/what-melbournes-restaurants-are-doing-in-response-to-the-coronavirus-pandemic-20200320-h1moz4" target="_blank">finding creative ways to make some money</a> in online retail or takeaway services, for example, but most will replace only a fraction of their pre-crisis income.
<h2>Rent is the biggest barrier to survival</h2>
Staff layoffs, or more <a href="https://www.natlawreview.com/article/covid-19-australia-stand-down-what-does-it-all-mean" target="_blank">hopefully stand downs</a>, are the only option for most of these business. Even substantial wage subsidies won’t entice business owners to keep staff on when the business has shut its doors.
For businesses on the economic frontline, most of their variable costs such as wages and stock can be suspended during the shutdown. But their fixed costs – particularly rent – are substantial.
The average retailer pays almost A$12,000 in rent a month; the average gym, $10,000. Cafes and hairdressers are losing $3,000 to $4,000 each month in rent. 
For most exposed businesses, rent sits at less than 20% of operating costs under normal conditions, but while they hibernate through coronavirus, that figure will reach somewhere between 80% and 95%.
Some schemes have already been announced to help these businesses. The Commonwealth’s is the largest, and will pay small and medium businesses 100% of salary and wages withheld for tax purposes up to $100,000. For businesses to qualify for the full amount, they will need to withhold the same amount, so will need to be paying staff.
<a href="https://images.theconversation.com/files/323472/original/file-20200327-132965-1bqrk6j.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/323472/original/file-20200327-132965-1bqrk6j.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
 2019 data. Grattan Institute analysis of IBISWorld industry reports
State governments have announced partial relief of tax, rates and fees, and access to loans. This will help, but rent is the big unavoidable cost for most of the frontline businesses.
Exposed businesses will be losing thousands of dollars, or more, each month. Many will have some cash reserves, but for most a shutdown of three months or more will be very difficult to absorb.
A rent holiday, or at least a significant rent discount, would give these businesses a fighting chance at preventing a temporary shutdown becoming a permanent closure.
<h2>Market rates are close to zero</h2>
Most shopfronts can’t be put to other uses. That means the market price for retail, food, and accommodation services, and personal services shopfronts will be very close to zero during the shutdown.
Some landlords have done the right thing and given their tenants a rent holiday while these restrictions are in place.
This is smart: keeping their tenants in business will give these landlords the best chance of having a rented property when restrictions are lifted.
In normal circumstances, the market would work this through. But the danger here is it will happen too slowly. Some landlords refuse to accept renting out their premises for nothing.
In Melbourne, Chadstone retailers just wrote to Chadstone management asking for a rent holiday to “save our businesses”.
The response from management was <a href="https://www.smh.com.au/business/the-economy/chadstone-retailers-push-for-three-months-rent-free-citing-bankruptcy-fears-20200325-p54dnu">no.</a>
That mindset could send many thousands of shops, cafes, pubs, restaurants, hairdressers, gyms, cinemas, and tourism operators to the wall.
As of last week, more than 70% of businesses in these industries had already been hit by the COVID-19 crisis. That figure is expected to rise beyond 90% in the coming weeks.
“Closures” was the most common word used by business owners surveyed by the <a href="https://www.abs.gov.au/ausstats/abs@.nsf/mf/5676.0.55.003?OpenDocument" target="_blank">Bureau of Statistics</a> about the future effect of COVID-19.
<a href="https://images.theconversation.com/files/323434/original/file-20200326-133007-uaqa55.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/323434/original/file-20200326-133007-uaqa55.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
<a class="source" href="https://www.abs.gov.au/ausstats/abs@.nsf/mf/5676.0.55.003" target="_blank">Source: ABS cat no. 5676.0.55.003 - Business Indicators, Business Impacts of COVID-19, March 2020</a>
Preventing landlords from evicting commercial tenants, or requiring landlords to defer the rents, won’t help – businesses will still liquidate if they know they will be lumbered with many months of rent to pay back down the track.
While a short-term income hit for landlords isn’t insignificant, the damage to the economy will be much greater if a swathe of small and medium-sized businesses are lost.
<h2>Acting now will reduce the damage</h2>
The owners of some properties that need rental holidays still have to make monthly mortgage payments to banks. But the banks are offering loan holidays they might be able to take advantage of.
If there are gaps in the loan holiday arrangements, governments should work with the banks to ensure landlords are covered. Alternatively, governments themselves could offer partial compensation for lost rent.
Prosper Australia has suggested a uniform <a href="https://www.prosper.org.au/wp-content/uploads/2020/03/Memo-to-state-Governments_-Commercial-tennancy-intervention-for-Covid19-resilience.pdf" target="_blank">subsidy</a> that replaces 50% of lost commercial tenancy mortgage payments.
Right now, hundreds of thousands of businesses are crunching the numbers to see whether than can stay solvent. With rent on the expense side, those numbers won’t add up for long.
Every state and territory government ought to enact a rental holiday for the types of businesses on the frontline of this crisis. As the economic shockwave reverberates, state and territory ministers should have the power to add other vulnerable industries to that list.
The key is speed. For every day they wait, hundreds of businesses will fold.<img src="https://counter.theconversation.com/content/134890/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
<a href="https://theconversation.com/profiles/danielle-wood-147710" target="_blank">Danielle Wood</a>, Program Director, Budget Policy and Institutional Reform, <a href="https://theconversation.com/institutions/grattan-institute-1168" target="_blank">Grattan Institute</a>; <a href="https://theconversation.com/profiles/kate-griffiths-94706" target="_blank">Kate Griffiths</a>, Fellow, <a href="https://theconversation.com/institutions/grattan-institute-1168" target="_blank">Grattan Institute</a>, and <a href="https://theconversation.com/profiles/nathan-blane-934089" target="_blank">Nathan Blane</a>, Analyst, <a href="https://theconversation.com/institutions/grattan-institute-1168" target="_blank">Grattan Institute</a>
This article is republished from <a href="https://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/the-case-for-a-rent-holiday-for-businesses-on-the-coronavirus-economic-frontline-134890" target="_blank">original article</a>.
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The case for a rent holiday for businesses on the coronavirus economic frontline

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Valinor Park, a 204 hectare country estate in South East Queensland's Somerset Region, has hit the market.
The Mount Kilcoy farm has been listed by former LNP Minister Di McCauley and husband Ian. 
It will go under the hammer at an online auction on June 19 through Ray White Rural Queensland agent Jez McNamara.
Set an hour and a half from Brisbane, the mixed opportunity acreage boasts valley vistas.
It comes with an architecturally designed home complete with guest wing and rolling green pastures. 
<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/2020/5/25/RWR_Valinor_Park_040_Revised.jpg" alt="">
The homestead Belmont House was designed by Sparc Architects’ Kelly Gray.
It offers function living spaces, wood burning fireplace, covered BBQ area and salt water pool. 
The working cattle property also has a three bedroom Queenslander with a tennis court. 
<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/2020/5/25/RWR_Valinor_Park_101_Revised.jpg" alt="">
“The house was built from scratch and we made a list of what we felt were our priorities for a house because we never agree on anything but when we exchanged lists they were almost identical,” Ms McCauley said.
 
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Valinor Park in the dress circle of Kilcoy listed 

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Australian real estate developer, Beulah International, has gained approval from the Victorian State Government to develop their $2 billion Southbank by Beulah project.
The Green Spine building, set to become Australia’s tallest tower, will be composed of two towers, both with a twisting geometric class façade and terracing and has been conceived as a conceptual extension of the Southbank Boulevard.
<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/Beulah_SBB_GreenSpine_Podium.jpg" alt="">
Soaring to 365 metres and spanning 270,000sqm, the mixed-use precinct desires to become an unprecedented, globally recognised vertical village.
Southbank by Beulah was conceptualised alongside Dutch design firm UNStudio and local firm Cox Architecture — a refinement of their winning concept from the 2018 Southbank by Beulah global architecture competition.   The vertical village will comprise of four distinct collections of private residences, public and green spaces, including a five-star urban resort, world class experiential retail and commercial offices.
Other features include a rooftop sky garden, town hall, childcare centre, a health and wellness precinct and arts and culture spaces and programs.
 
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Southbank by Beulah to become Australia's tallest vertical village 

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The pandemic is not stopping the rooftop urban farm at Burwood Brickworks in Melbourne from producing top quality fruit and vegetables. 
Under a new partnership between the shopping centre, acre Farm &amp; Eatery and Crossway LifeCare, that produce is now being delivered to local people in need.
<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/2020/5/27/15_Fresh.jpg" alt="">
 
Source: <a href="https://www.facebook.com/BurwoodBrickworksShopping" target="_blank">Burwood Brickworks Shopping Facebook Page</a>
While the restaurant connected to the urban farm remains closed due to COVID-19, the new partnership ensures the farm’s produce is regularly delivered to Crossway LifeCare’s customers, to find its way into the homes and recipes of people who need it most.
Crossway LifeCare’s customers include people experiencing hardship such as relationship issues, depression and anxiety, domestic violence, addictions and other challenging life situations. The community services organisation aims to help people in tough places flourish.
Eric Park, Burwood Brickworks Centre Manager, says the partnership is about using a community resource to support people and families who may be experiencing food insecurity in these challenging times.
“Part of the principle of the Living Building Challenge® at Burwood Brickworks is to take a different perspective on waste, by viewing and treating waste as a resource. It would be against the spirit of the centre for the quality produce grown in the community farm not to be used for the community’s benefit, and this partnership ensures that it will,” says Mr Park.
“We are proud to support acre Farm &amp; Eatery in the donation of fresh produce to a community group with a real focus on helping people from all walks of life.”
As COVID-19 restrictions ease, the retailers at Burwood Brickworks are busy working with centre management and Frasers Property Australia to open their doors to the community at the appropriate, safe time.
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Burwood Brickworks donating urban farm produce

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A $215,000 Perth apartment has fallen $85,000 in price since its 2007 peak sale price.
Located at 4E/811 Hay Street, the small Paragon unit features a single bedroom, single bathroom, and living area.
It has just 41 square metre of internal floorspace.
The apartment sold for $215,000 earlier this year.
It had previously sold in 2012 for $287,000.
Its peak sale price was in 2007 at $300,000.
The latest sale is comparable to the unit's value in 2003, when it was secured for $210,000.
There was a $206,000 sale in 2000 when sold by developers Westpoint and Paragon. 
Allen Ang and Kennie Chung, from Realestate 88 Inner City, had the 2020 listing.
It was leased for $300 per week until September, so reflected a seven per cent yield.
Its asking rental was $390 in 2014.
  
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One bedroom Paragon, Perth apartment falls $85,000 from its peak 2007 price

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Sydney-based boutique construction company, Roberts Pizzarotti, has officially topped out its Zurich Tower project at 118 Mount Street, North Sydney.
It is set to become the new headquarters for Zurich Financial Services Australia (Zurich).
The topping-out ceremony took place whilst taking several COVID-19 precautions into account.
It was held to commemorate the structural completion of level 29, the highest floor of the commercial building. 
As part of the event, a ceremonial ‘teddy bear’ magnolia tree signified the ancient ‘topping-out’ tradition.
To mark the occasion, and in line with the current limit of 10 people attending public gatherings, Roberts Pizzarotti’s CEO, Alison Mirams, joined nine other project stakeholders, including representatives of the building’s end owner, CBRE Global Investors; anchor tenant, Zurich; Mayor of North Sydney Council, Jilly Gibson; and the Hon. Rob Stokes, MP, Minister for Planning and Public Spaces. 
The ceremony was live streamed into the head office of Zurich in Switzerland.
<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/2020/5/27/8_Zurich%20Tower%20Woman.jpg" alt="">
The FJMT-designed project, developed in conjunction with White &amp; Partners and Generate Property Group, will deliver 20,600sqm of PCA A-Grade office space.
As the anchor tenant, Zurich will enjoy a new purpose-built headquarters that includes a two-level podium, café, a sky terrace, three basement car parking levels and end-of-trip facilities. 
According to Ms Mirams, the completion of the 29-storey structure is ahead of schedule.     
“With construction commencing in May 2018, the fact that we are holding this event today is testament to the fact that the project has progressed well, despite all the recent challenges imposed by the COVID-19 pandemic,” said Ms Mirams.
“We are grateful for the outstanding support we’ve received from all of our subcontractors who worked with us through the COVID-19 situation. Their support is incredibly appreciated and should result in the project ultimately completing ahead of time, which is remarkable given the circumstances.
“It is gratifying to know that we’ve played our part in keeping 350 people employed directly or indirectly during the difficult employment situation resulting from the pandemic and 1,300 since the project’s inception,” she added.
Managing Director (Australia and New Zealand) of CBRE Global Investors, Chris Johnston said the organisation was proud to be working closely with both Roberts Pizzarotti and Zurich in their delivery of the iconic new building.
“Zurich Tower will make an important contribution to the growth and revitalisation of North Sydney,” said Mr Johnston. 
“North Sydney is one of Australia’s fastest-growing CBDs and as our client’s first acquisition in Australia, it represented an outstanding opportunity to invest, with both major infrastructure investments nearby and high demand for A-Grade office space outside the Sydney CBD.
The project team donated the ceremonial topping-out tree to North Sydney Council to be planted in one of the area’s local parks.
 
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Roberts Pizzarotti tops out Zurich Tower ahead of schedule, despite COVID-19

<a href="https://www.apartments.com.au/developers/sunland-group">Sunland Group</a> has officially lodged plans for its first Gold Coast apartment project since the departure of the Abedian family from the company three years ago, unveiling a new high-rise proposal for a prominent Broadbeach corner site on Old Burleigh Road.

The application was submitted by an entity directed by Tom Jamieson, stepson of longtime Sunland leader Soheil Abedian, and Riaz Rezvanipour, brother-in-law of Sahba Abedian, Soheil’s son.

Sunland acquired the 1,283 sqm site on the corner of Old Burleigh Road and Armrick Avenue for $9.5 million late last year and is now seeking approval for a <a href="https://www.apartments.com.au/new-apartments/99-101-old-burleigh-road-broadbeach-qld-4218">42-storey tower with 81 apartments</a>.

<img alt="First look: Sunland Group returns to Broadbeach with new Old Burleigh Road tower plans" data-entity-type="file" data-entity-uuid="fea2946d-90ee-4cfc-babe-2a8ad5db2cb6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers.png?VersionId=BV0fihJw31nDIQ8ozY_h3GbS8mxDyhnm" />

Designed by <a href="https://www.apartments.com.au/architects/contreras-earl-architecture">Contreras Earl Architecture</a>, the proposed tower at 99-101 Old Burleigh Road would deliver a predominantly larger-format apartment mix aimed at the owner-occupier market. Plans include 17 two-bedroom apartments, 55 three-bedroom apartments, and nine four-bedroom residences across 35 residential levels.

The development also incorporates three basement levels, four podium parking levels, two levels of communal recreation facilities, and rooftop plant and equipment. A total of 189 car spaces are proposed, significantly exceeding the 90 spaces required under the planning scheme.

The architecture adopts a sculpted, curvilinear form, with deep wraparound balconies and integrated landscaping intended to soften the tower’s vertical expression. The planning report states the building’s “slender footprint/form provides a complimentary yet varied built form within the local streetscape” and contributes to “a varied, yet ordered skyline.”

Contreras Earl noted in its Architectural Statement that from the early stages, the project addressed a fundamental challenge: how to accommodate the required residential yield while avoiding the conventional model of a tower sitting on a rigid, fully resolved parking podium.

“The most direct response would have been to consolidate parking into a singular, flat podium and extrude a repetitive tower above,” the statement said. “While efficient, this approach would result in a consolidated built form with limited engagement with the surrounding landscape and public realm.”

Instead, the conventional podium model was “deliberately rejected”. The architects described the base of the building as “a landscaped architectural condition where structure, planting and circulation are integrated”.

“Rather than presenting a continuous built mass, the base of the building is articulated through a series of concrete planter elements that organise the podium into a fragmented system,” the statement said. “This approach reduces the perceived bulk of the lower levels while establishing a more permeable interface with the streetscape and adjacent open space.”

<img alt="Sunland" data-entity-type="file" data-entity-uuid="923fad8d-c960-4527-8fbe-975cf1ddf88d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-25%20at%2010.32.03%E2%80%AFAM.png?VersionId=pngwb0hYOIUpq9vDw6F2EsOiVuHF3DiX" />

&nbsp;

The site sits within the High Density Residential Zone and inside the City of Gold Coast’s unrestricted “HX” building height area, where the planning framework anticipates intensified residential development tied to the expanding light rail corridor. The planning report notes the area is undergoing “transition toward more intense development forms” given its proximity to Broadbeach, Surfers Paradise, and high-frequency public transport infrastructure.

Positioned directly opposite Broadbeach Park and within walking distance of Florida Gardens light rail station, the development would sit among a rapidly evolving stretch of Old Burleigh Road that has become one of the Gold Coast’s most active apartment development corridors.

The application joins a growing pipeline of luxury residential projects reshaping Broadbeach, including nearby developments by 5Point Projects, Polycell, and Graya.

The planning report argues the project contributes toward the Gold Coast’s long-term housing targets under the South East Queensland Regional Plan, which forecasts the need for more than 100,000 additional high-rise dwellings across the city by 2046.

<section data-scroll-anchor="false" data-testid="conversation-turn-4" data-turn="assistant" data-turn-id="request-WEB:84a2af5e-d7cf-4ddf-922a-f4d44d6c6caa-1" data-turn-id-container="request-WEB:84a2af5e-d7cf-4ddf-922a-f4d44d6c6caa-1" dir="auto">
The Abedian family departed Sunland Group in late 2023, ending a four-decade association with the company, and subsequently established the private development firm Abedian &amp; Co. The group is currently delivering <a href="https://www.apartments.com.au/new-apartments/greenmount-residences-cnr-hill-street-and-marine-parade-coolangatta-qld-4225">Greenmount Residences</a> at Rainbow Bay and recently launched <a href="https://www.apartments.com.au/new-apartments/18-mary-avenue-14-18-mary-avenue-broadbeach-qld-4218">18 Mary Avenue</a> in Broadbeach.
</section>

Joel Robinson

First look: Sunland Group returns to Broadbeach new apartment market with new Old Burleigh Road tower plans

The Minns Labor Government has established the new Bays West Delivery Authority to lead the development&nbsp;of the Bays West Precinct and Blackwattle Bay Precinct.&nbsp;

The Authority is charged with creating Sydney’s newest precinct, a thriving, connected, sustainable hub with White Bay Power Station as its cultural heart. Its vision is to build on the area’s natural, cultural and industrial history to shape a vibrant new neighbourhood.

The precinct will deliver up to 8,500 well-located homes, including a minimum of 10 per cent affordable and essential worker homes. Combine new housing with public open space, opening public access to the waterfront for the first time in more than 100 years, while retaining important deep-water facilities to support Sydney’s working harbour.

Located just minutes from the Sydney CBD and connected to a world-class metro, ferry, walking and cycling links, the Bays West precinct will rebalance housing growth towards well-serviced inner-city locations and help tackle the state’s housing crisis.

The Bays West Delivery Authority,&nbsp;an agency of the Department of Planning, Housing and Infrastructure, will report to the NSW Minister for Lands and Property who already has oversight of major precinct renewal projects including at Blackwattle Bay and Barangaroo.

As part of the broader Bays West transformation, the Minns Government recently announced that a proposal from Lendlease to redevelop part of the Bays West Precinct has progressed to Stage 2 of the NSW Government’s unsolicited proposals process.

<img alt="Sydney" data-entity-type="file" data-entity-uuid="2ed71eb9-d8e8-4fa7-b9d1-de4531dcf2f3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-25%20at%209.42.31%E2%80%AFAM.png?VersionId=IDryFIbped9SNDg72LEN_EecvhUsOPvp" />

The Minns Labor Government has also confirmed the Bays West precinct will have a new suburb name. This will be the first major suburb built in close proximity to Sydney’s CBD in decades and will encompass the area currently being referred to as Bays West, including Glebe Island and the White Bay Power Station. Served by a new Metro station just five minutes from the CBD, it will become one of the most populous suburbs in the Inner West and one of Sydney’s premier cultural destinations.

An early works program is taking shape, which&nbsp;includes the first stages of an international design competition.&nbsp;

The aim of the Bays West&nbsp;International&nbsp;Design Competition is to&nbsp;ensure design excellence is embedded in the project from the start. The competition will deliver an&nbsp;urban framework that defines the character, ambition and long-term identity of&nbsp;this&nbsp;former industrial precinct as it transitions to a vibrant, inclusive and sustainable residential&nbsp;neighbourhood.

The competition will be led by the Bays West Delivery Authority in partnership with Government Architect NSW.&nbsp;

It will launch with an invitation for a global Expressions of Interest, before moving to an invitation-only stage that will be assessed by a panel that&nbsp;will provide advice to Cabinet who will select a winner.

Premier of NSW, Chris Minns said the establishment of the new Authority is the first step in transforming the Bays West precinct into a vibrant, livable suburb minutes from the Sydney CBD and two stops from Hunter St Station on the Metro West line.

“The Authority will deliver well-located homes close to the heart of the city and integrate the new precinct with Blackwattle Bay and the new Sydney Fish Market.

“This is a generational opportunity to build a new suburb on the city’s edge and open the harbour foreshore to the public for the first time in a century.”&nbsp;

Minister for Lands and Property Steve Kamper said the new Bays West Delivery Authority established by the Minns Government will turbocharge the development of Sydney’s newest suburb.

“The Authority is working at a record pace to deliver an international design competition, planning pathways and a financial model so that this development benefits Sydney with well-designed homes in a central location, close to public transport, jobs, entertainment and essential services.

“If we want Sydney to stay liveable and affordable, we need to be bold about using underutilised government-owned land to deliver homes for the future while making sure essential working harbour functions can be accommodated.”

Bays West Delivery Authority established to "turbocharge" Sydney’s newest suburb

Around 400 additional homes could be built at Southwark Grounds on Port Road, lifting total site capacity from 1300 to around 1700 dwellings.

A recently approved code amendment would allow apartment towers of up to 14 storeys in some areas of Renewal SA’s redevelopment of the former West End Brewery.

Renewal SA Acting Chief Executive Shane Wingard said he welcomed the code amendment, with the increase in heights and homes making a positive impact on the supply of high-quality, well-connected housing close to the city.

“By going higher across some parts of Southwark Grounds, we are adding a substantial number of very well-located homes with little impact on project delivery time or planned open space,” Mr Wingard said.

Since the project officially launched in 2025, Mr Wingard said more than 12,000 enquiries had been received about living at Southwark Grounds.

“The very strong early interest we’ve seen since homes were first released in the precinct reinforces our plans to create more housing opportunities,” he said.

The Southwark Grounds code amendment was launched in December last year, with community engagement undertaken over five weeks from January.

It proposed increasing maximum building heights from eight to 14 storeys on the eastern section of Southwark Grounds, and to 12 storeys across the remainder of the site, with minimum building heights ranging from two to four storeys.

The code amendment was implemented through an Early Commencement policy in late January, allowing developers to quickly explore the viability of increased height and housing yield while other planning processes continue.

One of the first developers delivering apartment sites have already finalised redesigns to increase the number of apartments following the code amendment.

Samaras’ development adjacent to the future Colonel Light Park is now planning to deliver 125 apartments across 11 storeys, significantly greater than original plans of around 50 apartments across four storeys.

The developer is also exploring the potential for additional affordable housing outcomes.

Most of the apartments at Southwark Grounds will be delivered within a master-planned precinct on a large parcel of land on the eastern portion of the site, covering around two-thirds of its 8.4 hectares.

Wingard said detailed precinct planning over the coming months may identify further opportunities to increase yield further that could see total apartment numbers at Southwark Grounds, exceed this number.

Affordable homes at Southwark Grounds will also see a net increase, with Renewal SA maintaining its commitment to a minimum of 20 per cent affordable housing across the development.

&nbsp;

&nbsp;

Civil works have begun across the site, with construction under way on the first new roads surrounding a townhouse precinct in the south‑west corner of Southwark Grounds. This includes Renewal SA’s 17 Founder’s Row homes, which are on track for completion by Christmas.

“We expect to have people living at Southwark Grounds by the end of the year, so delivering roads and public spaces for those residents is among our highest priorities.”

Construction of 40 townhouses off Anderson Street, known as West Village and being delivered by Contour, is forecast to begin in mid‑2026. Kolabb’s Anderson Lane development will follow shortly after, delivering a further 26 townhouses.

Southwark Grounds is a state government‑led urban renewal project now set to deliver around 1,700 homes over the next decade.

Homes will be supported by a supermarket, a range of retail and hospitality offerings anchored by a revitalised Walkerville Brew Tower, a childcare centre, car parking and well‑connected public spaces.

400 new homes planned for Adelaide's former West End Brewery site

Brisbane developer&nbsp;<a href="https://www.apartments.com.au/developers/cavcorp">Cavcorp</a> has lodged plans for a new mixed-use residential development at <a href="https://www.apartments.com.au/new-apartments/55-wyandra-street-teneriffe-qld-4005">55 Wyandra Street</a>, Teneriffe, anchored by an 85-metre public laneway designed to reconnect the suburb’s riverfront with the Gasworks precinct.

The buildings, known as Teneriffe House and Teneriffe Lane, would replace the existing Queensland Cotton head office site with a 15-storey residential tower transitioning to eight storeys toward Helen Street. The project has been designed by Plazibat Architects and lodged as a code assessable development application for 93 apartments across a 3,401 sqm mixed-use site within the Newstead and Teneriffe Waterfront neighbourhood plan.

Central to the scheme is the transformation of an existing service easement into a publicly accessible cross-block connection linking Wyandra and Helen Streets. Cavcorp says the new laneway will act as both a pedestrian shortcut and a landscaped civic space between the Teneriffe Riverwalk, ferry terminal, and Gasworks precinct.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="26e7f058-b065-4de8-b13d-a2b8cb64dfcc" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/bldg.png?VersionId=sELS0ZKYi361oYipUa1BIKfe_.DLZoFV" />

“The revised proposal delivers a legacy public-realm cross-block link, permanently secured for community use, transforming an existing private easement into a safe, high-quality pedestrian connection between the Teneriffe heritage riverwalk and the Gasworks–Long Island precinct,” the planning report states.

The laneway will sit beneath a large subtropical loggia integrated into the podium levels of the development. The design incorporates deep landscaping, water gardens, lobby spaces, business lounges, and ground-floor apartments to create what Cavcorp describes as a climate-responsive “urban verandah.”

The tower itself has been designed as a slender form with recessed floorplates and curved translucent corners inspired by contemporary Japanese architecture. The building height aligns with the Commercial Road precinct controls, which permit towers up to 15 storeys within proximity to Longland Street.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="a8a17d40-43b6-4718-b3fd-67676fcbb485" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers%202_1.png?VersionId=i3VwDtp5AmL_8InW7w4qRbDFEpb744Jt" />

The project will comprise a mix of larger-format apartments aimed at owner-occupiers, downsizers, and families. The proposed apartment mix includes 11 loggia apartments across the lower levels, 50 four-bedroom Sky-Terrace apartments from levels three to seven, and 32 Sky-Pool Homes occupying the upper tower levels. The Sky-Pool Homes will feature private thermal plunge pools integrated into oversized balconies.

According to the application, the apartments are intended to reinterpret the scale and character of Teneriffe’s woolstore conversions and Queensland homes within a vertical residential format.

“The sky-pool homes build on Cavcorp’s previous projects and introduce a distinct apartment typology to Teneriffe, informed by both local and international precedent and responding to an identified market demand for enhanced safety, space and amenity,” the planning submission notes.

A major focus of the proposal is its five-level wellness and lifestyle offering, extending from the basement through to the rooftop.

Amenities proposed include a rooftop Swim &amp; Racquet Club with a 25-metre Olympic lap pool and tennis court, coworking spaces and libraries, golf simulators, wine storage, concierge facilities, business lounges, pet wash areas, and rooftop longevity-focused wellness spaces with spas, outdoor fitness zones, and landscaped terraces.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="944b352c-49b9-4247-a4c6-5967b4b69fda" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/amenity.png?VersionId=Ed_qKjAtMwFT.5gfl3jiA9QwdWxSMsaX" />

All parking will be concealed within basement levels accessed from Wyandra and Helen Streets. Cavcorp says the deep-basement engineering approach allows the entire ground plane to prioritise landscaping, pedestrian movement, and active frontage rather than vehicle infrastructure.

The development continues Cavcorp’s concentration in Newstead and Teneriffe, where the Brisbane developer has delivered a number of apartment projects including Lucent, Le Bain, and Luminare, as well as the Long Island Wellness Precinct nearby. Several of those projects have received national design and architecture awards, including recognition under Brisbane’s “Buildings that Breathe” program.

Cavcorp unveils wellness-focused Teneriffe House and Teneriffe Lane apartment buildings

Focus Group Investments has lodged plans for a new apartment development at <a href="https://www.apartments.com.au/new-apartments/64-70-hanover-street-fitzroy-vic-3065">64–70 Hanover Street</a> in Fitzroy, seeking to utilise the Victorian Government’s recently introduced Great Design Fast Track pathway to accelerate approvals for the project.

The proposal is among the latest developments to emerge through the state-led initiative, which was established to fast-track well-designed residential projects in activity centres and transport-connected inner-city locations. The pathway allows qualifying developments that meet elevated design and housing benchmarks to bypass traditional council planning timeframes and instead be assessed directly by the Department of Transport and Planning.

Designed by SJB, the development will comprise a mix of apartments above activated lower levels, with a strong focus on architectural articulation, landscaping, and communal amenity. The design response seeks to balance the industrial character of Richmond’s former warehouse precincts with a more contemporary residential form.

<img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="abea51cc-d85b-479e-9aef-a589f3b37ca7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/ground.png?VersionId=e1Kf8EyPWwyiVumtqQ4rM5S4GpOR3CCz" />

Proposed are 63 new dwellings, a wide ranging mix of studio, one-, two-, and three-bedroom apartments, and townhouses and duplexes. They will be spread across a part-three, part-eight storey building.

The Planning and Urban Context Report by Tract says the development is of an "exemplary architectural standard" and has been carefully crafted by SJB Architects.

"Dwellings&nbsp;will benefit from excellent access to natural light, cross-ventilation opportunities and extensive communal space," the report noted.

The architectural material highlights the project’s integration of landscaped elements and communal spaces throughout the building. The proposal also incorporates sustainability initiatives aligned with the Victorian Government’s push for higher-performing apartment developments under the fast-track program.

The Great Design Fast Track was unveiled by the Victorian Government in 2024 as part of a broader housing supply strategy aimed at accelerating the delivery of new homes. Projects assessed through the pathway must demonstrate high-quality architecture, sustainability outcomes, and housing diversity while being located close to public transport and existing infrastructure.

<img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="afdbe834-8dc4-4a77-a943-ba07bc927348" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/site_11.png?VersionId=0J657j.TaChAZfp93wqJYBTqSsnREJx2" />

Focus Group, founder and led by Paul De Lutiis, is increasingly active across Melbourne’s inner suburbs, targeting well-connected urban renewal locations suited to medium and higher-density residential development. The Fitzroy proposal continues that strategy, leveraging the area’s strong transport links, established retail amenity, and proximity to the CBD.

Fitzroy has been one of the most popular spots for developers and buyers in recent years. The likes of PACE Development Group, SMA Projects, Crema Group and Chapter Group, currently selling projects in the suburb.

Staff reporter

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