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The home of an established dental clinic with a 20 year history has been listed for sale in Melbourne’s inner-east.  
CBRE’s Specialist Healthcare team of Sandro Peluso, Josh Twelftree, Jimmy Tat and Marcello Caspani-Muto, in conjunction with Transaction Manager Appel Property, have been appointed to negotiate the sale of the medical facility at 368 Tooronga Road, Hawthorn East.
The property is currently leased to Smile Designs Dentistry on a ten-year term with further options and returns $78,300 p.a. All outgoings are paid by the tenant and there are dual layers of security in the form of monetary deposit and a Director’s Guarantee.  
The clinic’s owner has an operational history spanning four decades and has successfully operated multiple clinics around Melbourne. 
The 520 sqm blue-chip landholding is zoned Neighborhood Residential Zone.
<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/2019/7/25/HAWTHORNToorongaRd368DRONEDJI_0015.jpg" alt="">
It features two road frontages and the property is also close to the Coles-anchored Tooronga Village shopping centre and within proximity of transport, educational and parkland amenities. 
Mr Peluso said the property would continue to benefit from its proximity to some of Melbourne’s most elite suburbs, including Malvern, Toorak, Kew, Glen Iris and Camberwell.
The Hawthorn East property is being offered for sale via public on-site Auction on August 29.
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j.ballantyne1990-6AQqhLzZaK

Hawthorn East dental clinic set for auction

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GUEST OBSERVATION
The federal government wants to boost the number of migrants moving to regional areas in Australia to fill job vacancies and reduce the pressure on our cities.
That’s why the Minister for Immigration, Citizenship, Migrant Services and Multicultural Affairs, David Coleman, this week asked the Joint Standing Committee on Migration to look into and report on <a href="https://www.aph.gov.au/parliamentary_business/committees/joint/migration" target="_blank">migration in regional Australia</a>.
He’s called on anyone to make a submission by September 20 and the Committee intends to hit the road for a series of public hearings.
The <a href="https://www.aph.gov.au/Parliamentary_Business/Committees/Joint/Migration/RegionalMigration/Media_Releases" target="_blank">government says</a> only about one in five people who came to Australia between 2006 and 2011 settled in regional areas. So what are the challenges to encourage more migrants to settle in regional Australia?
Bush vs city
Australia is one of the most urbanised nations in the world with <a href="https://www.abs.gov.au/websitedbs/D3310114.nsf/home/Interesting+Facts+about+Australia%E2%80%99s+population" target="_blank">67% of the population living in capital cities</a>, with <a href="https://www.aph.gov.au/About_Parliament/Parliamentary_Departments/Parliamentary_Library/pubs/rp/rp1819/Quick_Guides/PopulationStatistics" target="_blank">migrants more urban than non-migrants</a>.
The two key issues for encouraging more migrants to regional areas are attraction and retention.
For skilled migrants this means <a href="https://www.news.com.au/finance/economy/federal-budget/immigration-cuts-and-regional-visas-to-ease-strain-on-sydney-and-melbourne/news-story/da7de88690966d4c202ab0d372a5b253" target="_blank">new visa pathways to regional settlement</a>. Two were announced earlier this year, the <a href="https://immi.homeaffairs.gov.au/what-we-do/regional-migration/news/new-regional-visas" target="_blank">Skilled Work Regional (Provisional) visa and the Skilled Employer Sponsored Regional (Provisional) visa</a>, both with a pathway to permanent residency at the end of three years. This is a big incentive, since permanent residency is the main goal of most temporary migrants.
Staying in the regions
The key factors that impact on retention of migrants who settle in regional and rural Australia are employment, children’s education, lifestyle, availability of services and the warmth of the welcome from locals.
<a href="https://web-tools.uts.edu.au/projects/detail.cfm?ProjectId=2006000310" target="_blank">Findings</a> from a national survey of 915 skilled migrants who settled in regional and rural Australia in 2008 found about two thirds liked their jobs.
<a href="https://images.theconversation.com/files/288250/original/file-20190816-136186-1y815t6.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" target="_blank">Click here</a> to enlarge: 
<a href="https://images.theconversation.com/files/288250/original/file-20190816-136186-1y815t6.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/288250/original/file-20190816-136186-1y815t6.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Job satisfaction of migrants. New immigrants in regional and rural Australia: attraction and retention, by Jock Collins and Branka Krivokapic-skoko (2008)/Rural and Regional Industries Research Council, Author provided
About two in three said the community had made them feel very welcome. The reputation of the Australian bush being populated with red necks who don’t like migrant newcomers is myth rather than reality.
<a href="https://images.theconversation.com/files/288251/original/file-20190816-136230-1f0vpij.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip" target="_blank">Click here</a> to enlarge: 
<a href="https://images.theconversation.com/files/288251/original/file-20190816-136230-1f0vpij.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/288251/original/file-20190816-136230-1f0vpij.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
How welcome migrants feel. New immigrants in regional and rural Australia: attraction and retention, by Jock Collins and Branka Krivokapic-skoko (2008)/Rural and Regional Industries Research Council., Author provided
Most skilled migrants were satisfied with medical services, schools and entertainment available in their regional and rural community. Telecommunication services were rated less highly while transport services were a source of great dissatisfaction.
Regional refugee success
For refugees, their primary settlement location is decided by the Australian government. Regional cities such as Toowoomba and Logan in Queensland, Wagga Wagga, Wollongong and Coffs Harbour in New South Wales and Shepperton in Victoria have settled many refugees.
What does the research tell us about refugee migration to regional Australia? The classic success story is that of the <a href="https://www2.deloitte.com/au/en/pages/economics/articles/economic-social-impact-karen-resettlement" target="_blank">Karen people from Myanmar who settled in Nhill</a> in western Victoria, many of whom find <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2015-04-24/study-reveals-refugees-boosting-nhill-economy/6417620" target="_blank">employment at the Luv a Duck factory</a>.
<a href="https://www.uts.edu.au/research-and-teaching/our-research/centre-business-and-social-innovation/research/projects-0" target="_blank">Research</a> was done in 2018 with 111 newly-arrived adult refugees from Syria, Iraq and Afghanistan who settled in Queensland regional cities of Toowoomba and Logan. It <a href="https://theconversation.com/refugees-are-integrating-just-fine-in-regional-australia-101188" target="_blank">found</a> most like living there, feel safe, feel the locals were very friendly towards them and that their children had a good future in Australia.
<a href="https://images.theconversation.com/files/288252/original/file-20190816-136186-4jtvlu.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip" target="_blank">Click here </a>to enlarge: 
<a href="https://images.theconversation.com/files/288252/original/file-20190816-136186-4jtvlu.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/288252/original/file-20190816-136186-4jtvlu.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
The friendliness of locals according to migrants. <a class="source" href="https://www.uts.edu.au/research-and-teaching/our-research/centre-business-and-social-innovation/research/projects-0" target="_blank">Jock Collins and colleagues</a>, Author provided
Most refugees who flee their homeland to begin the risky and dangerous journey to Australia do so in order to provide a safe place for them and their family. They hope to settle in a good place to bring up their children.
The <a href="https://www.uts.edu.au/research-and-teaching/our-research/centre-business-and-social-innovation/research/projects-0" target="_blank">research found</a> the migrants feel their neighbourhoods in Brisbane, Toowoomba and Logan were good places to bring up children.
Nearly all adult refugees – and their children – feel very safe in regional and metropolitan Queensland. Incredibly all of those refugee adults living in Toowoomba feel it is a safe place to live.
<a href="https://images.theconversation.com/files/288253/original/file-20190816-136213-1hyca37.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip" target="_blank">Click here</a> to enlarge: 
<a href="https://images.theconversation.com/files/288253/original/file-20190816-136213-1hyca37.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/288253/original/file-20190816-136213-1hyca37.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
How safe migrants felt their neighbourhood was. <a class="source" href="https://www.uts.edu.au/research-and-teaching/our-research/centre-business-and-social-innovation/research/projects-0" target="_blank">Jock Collins and colleagues</a>, Author provided
Getting a job
Employment is the real challenge for any attempt to redirect more refugees and skilled migrants to regional Australia. The critical issue for keeping refugees in regional cities such as Toowoomba and Logan is getting a job.
At first glance the research doesn’t seem too positive in this regard.
Only 13.8% of refugees in Logan and 13.2% in Toowoomba had been able to find a job in 2018. But most of these refugees had settled in the previous 12 months so most were still learning English and had not yet began looking work.
But these refugee families were also surveyed in 2019 and the improved employment results seem encouraging for refugee retention.
<a href="https://images.theconversation.com/files/288255/original/file-20190816-136190-fo4nzb.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip" target="_blank">Click here</a> to enlarge: 
<a href="https://images.theconversation.com/files/288255/original/file-20190816-136190-fo4nzb.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/288255/original/file-20190816-136190-fo4nzb.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Job prospects of migrants in Queensland. Jock Collins, Author provided
Overall the research supports the push for increasing skilled and humanitarian migration to regional Australia, with the proviso that more needs to be done on the employment front to encourage retention.
One policy that should be explored in this regard relates to <a href="https://www.lowyinstitute.org/publications/private-and-community-sector-initiatives-refugee-employment-and-entrepreneurship" target="_blank">migrant and refugee entrepreneurship</a>. Many refugees have experience in <a href="https://theconversation.com/how-refugees-overcome-the-odds-to-become-entrepreneurs-85091" target="_blank">running their own business</a> prior to settling in Australia.
Supporting them to establish a business in regional Australia by introducing proven programs such as Settlement Services International’s <a href="http://www.ssi.org.au/services/ignite" target="_blank">Ignite Small Business Start-ups</a> refugee program would assist them to create their own jobs and employment for others as well as revitalising the economy of the regional cities.
The biggest threat to increasing temporary migration to regional Australia is wage-theft and exploitative employment experiences. A <a href="https://www.smartcompany.com.au/business-advice/legal/wage-theft-regional-fwo/" target="_blank">recent intervention</a> by Fair Work Australia found that of 1,300 regional businesses visited by inspectors, one-in-five (22%) were found to be stealing wages from their workers.<img src="https://counter.theconversation.com/content/121942/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;">
Jock Collins, Professor of Social Economics, UTS Business School, University of Technology Sydney.
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/the-regions-can-take-more-migrants-and-refugees-with-a-little-help-121942" target="_blank">original article</a>.
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The regions can take more migrants and refugees, with a little help

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Today’s young Australians are in danger of being the first generation in memory to have lower living standards than their parents’ generation, according to a new Grattan Institute report.
<a href="http://icm-tracking.meltwater.com/link.php?DynEngagement=true&amp;H=btYXC68syxmDVppbhVzFoYHdeMNV9070xvOlf%2FNdDQ0wXj6aidRhm9u1v12hvxsvMHi3xwjNyRTqPX5039IoIlePBRTDdCUVr4c%2BV2ddEMbpayGmBnecxcjkOK96dz0p5eVjoqg1ewQ%3D&amp;G=0&amp;R=https%3A%2F%2Fgrattan.edu.au%2Freport%2Fgeneration-gap%2F&amp;I=20190818110734.000003c27524%40mail6-114-ussnn1&amp;X=MHwxMDQ2NzU4OjVkNTY0ODg2ODE2NmRhY2YxZmU5YWJkOTs%3D&amp;S=-QNWs4wuPgpMNSAu2tim0u5I9TAYVDZO3-wSS5YjC2M" target="_blank" data-auth="NotApplicable">Generation gap: ensuring a fair go for younger Australians </a>shows that older Australians today spend more and have higher incomes and greater wealth than older Australians three decades ago.
But living standards have improved far less for younger Australians.
The wealth of households headed by someone under 35 has barely moved since 2004.
Poorer young Australians have less wealth than their predecessors and are far less likely to own a home. In contrast, older households’ wealth has grown by more than 50% over the same period because of the housing boom and growth in superannuation assets.
It’s a myth that young people’s spending habits and lifestyles are to blame for their stagnating wealth.
"This is not a problem caused by avocado brunches or too many lattes," says the report’s lead author, Grattan’s Budget Policy Program Director Danielle Wood. 
<a href="https://www.propertyobserver.com.au/images/2019/8/19/grattan%201.jpg" target="_blank">Click here</a> to enlarge: 
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In fact, younger people are spending less on non-essential items such as alcohol, clothing, and personal care, and more on necessities such as housing, than three decades ago. 
Economic pressures on the young have been exacerbated by recent wage stagnation and rising under-employment. Older households are better cushioned from low wage growth because they are more likely to have other sources of income.
"If low wage growth and fewer working hours is the new normal in Australia, then we could have a generation emerge from young adulthood with lower incomes than the one before it at the same age," Wood says.
"This has already happened in the US and the UK."
<a href="https://www.propertyobserver.com.au/images/2019/8/19/grattan%202.jpg" target="_blank">Click here </a>to enlarge:
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Young Australians will also bear the brunt of growing pressures on government budgets. 
Because the population is ageing, governments will have to spend more on health, aged care, and pensions. But there will be fewer working-age people for every retired person to pay for it. The number of 15-64 year-old Australians for every person aged 65 or older fell from 7.4 in the mid-1970s to 4.4 in 2014-15 and is projected to fall further to 3.2 in 2054-55.
Governments have supercharged these demographic pressures by introducing generous tax concessions for older people.
The share of households over 65 paying tax has halved over the past two decades. And older households pay substantially less tax on the same income as younger households.
<a href="https://www.propertyobserver.com.au/images/2019/8/19/grattan%203.jpg" target="_blank">Click here</a> to enlarge: 
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"Working-age Australians are underwriting the living standards of older Australians to a much greater extent than the Baby Boomers did for their forebears, straining the “generational bargain” to breaking point," Wood says.
Inheritances are not a magic bullet for young people: they tend to come later in life and are much more likely to go to people who are already wealthy. 
Policy changes are required, Wood said. Policies to boost economic growth – such as tax reform, better education and smarter infrastructure spending – are wins for all, but especially for the young. Changes to planning rules to encourage higher-density living in established city suburbs would make housing more affordable. And a fair go for younger people means winding back age-based tax breaks for ‘comfortably off’ older Australians," she advised.
"Just as policy changes have contributed to pressures on young people, they can help redress them," Wood says.
"The time for action is now: none of us wants the legacy of a generation left behind."
<a href="https://www.propertyobserver.com.au/images/2019/8/19/grattan%204.jpg" target="_blank">Click here</a> to enlarge: 
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How to ensure a fair go for young Australians: Grattan Institute

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Aspen Group has released its financial results for the year ended 30 June 2019, revealing an underlying profit of $4.96 million for FY19.
The results show a statutory loss of $7.92 million for FY19. After adjusting for asset devaluations, transaction costs and other non-underlying items, Aspen Group achieved an underlying profit of $4.96 million, an increase of 4% on FY18, and an underlying profit per security of 5.15 cents, up 8% on 2018. Net Asset Value per security was $1.13, while distributions per security are up 19% to 5.00 cents. Underlying EBITDA was $5.89 million, an increase of 16% on FY18.
Acquisition of Highway 1 Tourist Park in Adelaide, as well as the addition of new manufactured housing inventory at Four Lanterns Estate, are the key reasons behind an increase in the value of Aspen Group’s portfolio by 20% in FY19 to $128.04 million.
Also owing mainly to acquisitions, total property net operating income was $11.23 million, an increase of 21% over FY18. Operating margin was 47% in FY19, slightly lower than the 49% achieved in FY18, partly due to the acquisition of the relatively low margin Darwin FreeSpirit Resort in FY18.
“We’ve seen a general weakening of conditions in the markets in which Aspen operates over the past year. There is good growth in tourism demand, however total accommodation supply has increased materially, leading to a decline in both occupancy and room rates.” Aspen Group Joint CEO David Dixon commented.
“We believe Australia has solid long-term demand dynamics but has overcapacity in the short term. This creates opportunities for Aspen.” Dixon continued.
“Australia’s residential market is worth over $6.5 trillion and there is significant unsatisfied demand for suitable accommodation at below median prices and rents. The Aspen Group management team are buoyed by the potential of this market, planned developments and a focus on new residential options within its businesses. The two Lindfield Apartment blocks are a good example of the opportunities that exist in the residential market.” added Aspen Group Joint CEO John Carter.
“There are ample opportunities to increase returns from Aspen’s properties through more intensive management and by deploying capital across cost saving initiatives, refurbishment and development.” Dixon concluded.
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Aspen Group releases profitable FY19 financial results

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Farm trespassers will face the toughest penalties in the country including up to three years jail time, under legislation set to be introduced by the NSW Nationals in Government.
The Minister for Agriculture Adam Marshall will also today give notice of the NSW Government’s intention to introduce a Right to Farm Bill into Parliament.
The Bill will introduce: 
<ul>
<li>The toughest penalties in Australia for farm trespass, including three years jail time and up to $22,000 in fines. Currently there is no jail time for farm trespass;</li>
<li>New offences and aggravating factors for trespassing as a group, damaging property and releasing livestock and tampering with farm gates and ramps;</li>
<li>Legal recognition of a farmer’s right to farm, shielding them from nuisance complaints, claims and legal action from their neighbours and other third parties.</li>
</ul>
Deputy Premier and Minister for Regional NSW John Barilaro said the Bill would help address increasing attacks on farming families. 
“The people of NSW have had a gutful of vile attacks against our farming families. This legislation is all about sending the clearest possible message: enough is enough,” Mr Barilaro said.
“If you invade a farm in NSW you will face up to three years behind bars. 
“We are telling our farmers today ‘we value the work you do and we will protect you and your families from these criminals,” he said.  
“Here in NSW we back our farmers 100 per cent, so it makes sense we’d have the toughest penalties for those that decide to wreak havoc on our primary producers,” Mr Marshall said.
“The community has had a gutful of farm invasions and have said existing penalties of up to $5,500 in fines are just a slap on the wrist. We’ve listened to that and will now establish the toughest possible penalties in the nation for farm invasions.
“If you’re farming legally, and have so for many years, you’re not going to cop a nuisance claim and potential legal action just because some folks from the city moved next door and decided they didn’t like the sound of your dairy cows.”
The Bill comes on top of regulatory changes recently introduced under the Biosecurity Act 2015, which impose further offences and large financial penalties for farm trespass that breaches on-farm biosecurity plans. This includes on-the-spot fines of $1,000 and fines of up to $220,000 through the courts.
The Right to Farm Bill was an election commitment by the NSW Nationals in Government.
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Right to farm to be legislated by NSW Government

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The only shopping centre in the town of Katherine, in the Northern Territory, has transacted to a private Melbourne investor for $28.9 million.
Achieving a core cap rate of 7.43%, Katherine Central Shopping Centre was sold by Ben Parkinson and Rick Silberman of Savills.
Katherine Central is anchored by a Woolworths supermarket and Target Country, with a tenancy mix that includes BWS, Rockmans, Smokemart, Amcal, and Brumby’s.
The off-market deal was negotiated on behalf of Charter Hall.
“The Centre enjoys an excellent market share within an expansive 500 kilometre main trade area in the Northern Territory,” Mr. Parkinson said. “Aside from the Woolworths in Katherine, the closest full line supermarket is in Darwin, 316 kilometres away.”
The 7,159 sqm Katherine Centre also immediately adjoins a retail and commercial development known as the Southgate Centre and the Katherine Hotel.
Major industries other than tourism include the RAAF Tindal Air Base along with mining and grazing. The RAAF Tindal Base is approximately 15 kilometres southeast of Katherine and is home to several flight squadrons. This local market and long term employment base underpins the success of Katherine Central.
“The total retail spending market generated by the overall trade area population is estimated to be around $212 million,” said Rick Silberman, Director of Retail Investments at Savills.
“This amount is expected to increase on average by 4.2% per year, reaching around $346 million for the overall trade area, including $268 million in the Primary Sector and immediately surrounding Katherine,” he concluded.
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Savills sell Katherine, NT's only shopping centre for $28.9 million

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Melbourne property developer and investment company, Up Property, has revealed plans for a new five level office building.
Its latest Geelong project at 181 Moorabool Street, is situated in the heart of the city's CBD.
Previously known as the Belcher Arcade, the plans reveal leasing opportunities ranging from 74 sqm to 2,884 sqm, with three street-facing retail tenancies below four levels of commercial office spaces.
The building was designed by Genton with a 4.5-star NABERS specification.
Registrations of interest are now open for the development through local Geelong real estate agency - Gartland Property.
Since purchasing its first property in Geelong back in 2004, Up Property has been heavily invested in this area.
It recently completed the regeneration of a number of other office and retail buildings.
These include 126-128 Little Malop Street, the new home of the Geelong Advertiser and Barwon Health, the historic pub turned popular gathering ground, The Inn Hotel, the recent refurbishment and transformation of retail showrooms at 107-123 High Street and the former 6.2-hectare CSIRO site in Belmont.
Office and retail space at 181 Moorabool Street development are available for lease now, with construction proposed to commence late 2019.
The development is located just one hour and 15 minutes to Melbourne by car and 52 minutes by train.
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Up Property reveals plans for five level office building in Geelong CBD

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A portfolio of three, established child care centres across Perth and regional WA are set for auction at the end of August  
The three centres in Inglewood, Hilbert and Vasse offer solid income streams with long term leases in place to well established operators. 
All three are less than 12 months old and are located in either well established or growing catchment areas.
Knight Frank agent Tony Delich, said the portfolio would appeal to a broad cross-section of funds and private investors.
“Smaller self-managed super funds in particular are looking for yield and security as opposed to leaving funds in bank deposits.” 
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Mr Delich said this portfolio had significant appeal due to its geographic spread with inner-city Inglewood, semi-rural, south-east suburban fringe suburb Hilbert and south-west growth area Vasse.
He said the Inglewood centre had an corner location on Beaufort Street and also included a retail tenancy.
“It is a brand new, three level building with a net income in excess of $350,000pa,” Mr Delich said.
“The Vasse centre is run by a well established child care operator and returns an income of $214,800, while the Hilbert centre is opposite a future primary school site in a huge growth locality in the City of Armadale and returns an income of $217,500.” 
Mr Delich said the properties would be auctioned separately on August 28.
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Western Australian child care portfolio scheduled for auction 

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Co-work space specialist WOTSO has leased a large-scale office space in Zetland.
It has committed to 2,600sqm at 1-5 Link Road in the recently developed Paragon development. 
The five-year lease – attached to another five-year option, is the largest office lease in the South Sydney suburb for several years.
The lease is WOTSO’s first foray into the South Sydney market, adding to their existing co-work facilities at North Strathfield, Pyrmont, Penrith, Bondi Junction and Neutral Bay. 
LJ Hooker Commercial South Sydney Director William Tong managed the lease on behalf of developer, HiFu Capital. 
“WOTSO’s lease represents the largest office commitment in Zetland for more than two years,” he said.  
Whilst details of the lease are confidential, Mr Tong said A-grade office space throughout the wider South Sydney market was commanding between $500-$550psm.  
“The shortage of quality office stock has driven up rents by about 30% in the last three years,” said Mr Tong. 
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Co-work space company WOTSO break Zetland lease drought

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The commercial redevelopment portion of The Glen Shopping Centre $500 million redevelopment has finished, with a residential element to follow. 
<a href="http://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39T19uw5QbPN8HXD8J9XXluS2UdZOrecqyY=&amp;rh=ff004fe9b76b0bd1129cf18cb74e9077907c55ca" target="_blank">The Glen Shopping Centre</a> in Glen Waverley, Victoria was opened in 1967 with around 30 shops and a department store and had around 600 car spaces.
“In 1991, the centre expanded to 120 retailers, with a 100 per cent increase in car spaces to 1,200,” said Ray White Commercial Glen Waverley Managing Director Ryan Trickey.
In 1996, the biggest expansion took place, with an extension to 170 stores and retail player David Jones joined their list of retailers.
In 2015, there was a circa $500 million commitment to the centre to increase the specialty stores to over 240.
<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/2019/8/20/The%20Glen%20-%20After%20Internal%20Shot.jpg" alt="">
It includes a new generation David Jones, with an increase to around 78,000sqm, about 30,000sqm more commercial space than previous.   “We've just finished the commercial redevelopment portion of the build with a mix of premium food and fashion all taking part," Mr Trickey said.
Mr Trickey said Glen Waverley was flanked by several large shopping precincts, Chadstone, East Land, Westfield Knox and Box Hill.   “Without the upgrade, the local area could’ve fallen victim to these other large draw cards with retailers moving to other areas."   “The redevelopment offers more dwelling in the activity center (a state government and council objective) and more retail and entertainment to service this influx of residents.”
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$500 million Glen Shopping Centre commercial redevelopment completed

Perth’s new apartment market recorded its strongest quarter of sales since Q4 2021, with 412 apartments sold in Q1 2026 and a record quarterly sold value of $537 million, according to Urbis’ latest Apartment Essentials results.

Urbis said the March quarter result reflects strong, highly product‑specific demand across both ends of the market, from more attainable projects delivering at scale, through to premium stock being absorbed by equity‑rich downsizers.&nbsp;

David Cresp, Partner at Urbis, said the key story in Perth is not demand, it is the market’s ability to convert demand into delivered housing.&nbsp;

“This is the strongest sales quarter since Q4 2021, and it reinforces that demand in Perth is real and it’s local,” David Cresp said. “But the task now is delivery, turning that demand into projects that can actually be built and completed.”&nbsp;

[smartcode_project:default project_id=110291 project_image_fid=302785]

<h2>Affordable product leads, premium demand remains resilient</h2>

Sales in Q1 were led by more affordable projects, with The Boulevard (SKS Group) recording 115 sales in the quarter, the presentation noting this is only the second time a single project has surpassed 100 quarterly sales. The project was able to offer more affordable housing product right next to a train station.&nbsp;

Palmyra West (Finbar) also delivered strong results with 28 sales in Q1, following 84 sales in Q4, with an average price of under $800,000, underscoring depth of demand for well‑located, attainable new stock.&nbsp;

At the premium end, Urbis said downsizer demand is continuing, with the results highlighting Romeo (Applecross, Finbar) recording 75 sales and reaching almost 50% sold in one quarter.

Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.

Urbis noted that Perth apartment demand is not speculative, not investor‑led, and not uniform, describing it as localised, often equity‑driven and highly product‑specific, a pattern reflected in the polarisation between strong “attainable” performers and premium downsizer product.&nbsp;

[smartcode_project:default project_id=148957 project_image_fid=364102]

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

Urbis said pricing pressure is cost not demand‑driven: construction costs and delivery risk are now a central constraint, with the results noting build costs remain elevated and volatile, and that energy, fuel and labour uncertainty weigh on feasibility.

David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.

“Developers are really feeling the pressure from a building market that was operating at capacity and securing a builder is challenging,” David Cresp said, adding that even where a builder can be secured, “trying to get to the price that makes the development financially viable is incredibly challenging in the current market.”&nbsp;

Urbis’ broader WA commentary also notes that industry remains at or above capacity with lot and housing creation, and that many builders are limiting new sales to manage stretched workforces and fixed‑price contract pressures, conditions that flow directly into apartment feasibility and delivery timing.

[smartcode_project:default project_id=108869 project_image_fid=317905]

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

While near‑term supply remains constrained, Urbis’ forecast shows completions lifting “Supply is forecast to be back above 1,500 apartments per annum for the first time since 2019”, with 1,775 completions forecast for 2026, and volumes remaining above that level over the following years.&nbsp;

Looking further ahead, completions are forecast to reach 2,500 in 2028, with the report noting 32% of that total is social/affordable, reflecting the role of government‑supported delivery in rebuilding the pipeline.&nbsp;

However, Urbis said Perth remains behind comparable markets on pipeline scale. In a national comparison of projects under construction, the report shows under construction Perth Build‑to‑Sell (BTS) at 3,446 apartments versus the Gold Coast at 7,922. Mr Cresp said “The challenge for Perth is how to we grow the delivery pipeline”.

Urbis’ conclusion is that Perth’s market is increasingly defined by product discipline and delivery certainty, with the research identifying “delivery certainty is key” and calling out builder risk and procurement models as core success factors, alongside “timing and staging”.&nbsp;

Joel Robinson

Perth apartment sales hit strongest pace since late 2021 as builder capacity tightens

<a href="https://www.apartments.com.au/developers/sammut-developments">Sammut Group</a> has secured development approval for its latest Brisbane apartment project, marking the Sydney developer’s next step in expanding its Queensland pipeline following the success of its debut Gold Coast development, Coast.

The approved project at <a href="https://www.apartments.com.au/new-apartments/44-glen-road-toowong-qld-4066">44 Glen Road, </a><a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> will deliver a 15-storey riverfront apartment building with 42 residences, significantly increasing the scale of the site’s previous approval for a smaller luxury scheme. Designed by Bureau^proberts, the development will comprise a mix of predominantly four-bedroom and two-bedroom apartments positioned to maximise Brisbane River and city views.

Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.

“Brisbane was the right step for Sammut,” Sammut said.

“With the success of Coast we thought we should definitely look to do more in Queensland alone. We then pushed up to look at Brisbane. We've been looking for I'd say two to three years actually and it was hard to find the right location.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-23%20at%203.27.14%E2%80%AFPM.png?VersionId=dYAVIL7qdcGA8ojvkslSrLjczXFejSSx" />

Sammut said suburbs including New Farm and Teneriffe were considered before the group ultimately focused on Toowong due to its strong downsizer demographic and limited supply of developable riverfront land.

The site was acquired off-market after what Sammut described as a lengthy negotiation and planning process, with the developer pursuing an uplift to the original approval.

“We are DA approved now which is very exciting,” Sammut said.

“We've had our change approval come through and we've obviously doubled the height, 15 storeys plus rooftop. We've got 42 amazing apartments that are going to be coming to market soon.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.27.26%E2%80%AFPM.png?VersionId=ohkRkY0dIZlqdfME2EZePsCQavRiBadE" />

Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.

“A place where traditional Queensland living has taken place for centuries; Toowong is seeing a shift of contemporary influence, commercial and retail hubs mixed with well-considered residential offerings – all the while maintaining its character and charm,” the architect noted in planning documents submitted to Brisbane City Council.

The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.

“They said the mix of four and two-bedroom apartments capture the ‘fundamental qualities of Queenslander living,’ translated into the context of a contemporary subtropical building.”

The development sits just off Coronation Drive within walking distance of Toowong’s retail precinct and the upgraded Regatta ferry terminal, while also benefiting from proximity to the incoming green bridge connection to West End. Sammut said the accessibility and amenity offering were central to the site’s appeal.

The approval adds to growing residential activity along the Toowong riverfront, joining nearby projects including Consolidated Properties’ Monarch Residences and Spyre Group’s ARC Residences.

Sammut secures approval for debut Brisbane apartment development in Toowong

Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.

Lanevick, founded and directed by Steve Maroun, is expecting to receive approval in the coming months for a new apartment development in Gladesville, with the aim to launch it to the market later this year.

The 51-apartment project, designed by Studio Johnston, will comprise a mix of one-, two-, and three-bedroom apartments positioned toward the Hunters Hill downsizer market.

“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.

“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.

“They still want good spacious entertaining areas, they still want quality design, but they also want flexibility and the ability to enjoy life a bit more after working hard for a long time.”

The project sits near Boronia Park and within close proximity to the Parramatta River foreshore, an area Maroun says offers more of a Hunters Hill lifestyle than a traditional apartment precinct.

“From a lifestyle perspective, it’s really more Hunters Hill than Gladesville,” Maroun said. “You’re close to the foreshore, close to parklands, and still connected back into the village precinct.”

From level four and above, apartments will capture water views&nbsp;toward Sydney Harbour. Communal amenity will include rooftop entertaining areas, wellness spaces, and a gym tailored toward owner-occupier buyers.

“We’ve really designed these apartments around that buyer coming from the Hunters Hill LGA and what they’re actually looking for in their next chapter.”

The proposed development has also been designed to respond to the changing character of the broader Gladesville town centre, where a growing number of mixed-use and residential proposals are expected to emerge over the coming years.

“Gladesville presented a rare opportunity to deliver a genuinely design-led residential project within an evolving lifestyle precinct, just moments from the growing Gladesville town centre, and we’ve approached the project with a strong focus on architecture, liveability and long-term community value,” Maroun said.

Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.

“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.

“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”

The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.

“A big part of the thinking was how do you activate that area properly and create more vibrancy and amenity, which is what Hunters Hill has been looking for,” Maroun said.

Lanevick’s focus since 2020 has largely been on smaller-scale luxury townhouse and terrace developments. The developer recently completed Royale Randwick, also designed by Studio Johnston, where prices reached $3.65 million. The project was featured in the UDIA NSW 2026 Professional Development Prospectus and was also named a finalist for Development of the Year.

&nbsp;

Lanevick to cater for Hunters Hill downsizers with new Gladesville apartment development

Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.

With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.

“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.

“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" />

GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.

“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”

Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.

“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" />

&nbsp;

One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Green praised local policy settings.

“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

One Living enters Sydney's new apartment market with Northern Beaches site acquisition

It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.

Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.

Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be

"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.

"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."

[smartcode_project:default project_id=134646 project_image_fid=6109]

The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.

The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.

Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.

[smartcode_project:default project_id=134646 project_image_fid=6110]

Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.

The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.

[smartcode_project:default project_id=134646 project_image_fid=6116]

While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.

WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.

With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.

[smartcode_project_cta:default project_id=134646]

Staff reporter

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