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Architects from New York, Chicago and Singapore have been shortlisted to take part in a competition for the design of Cbus Property’s second commercial office project in Brisbane’s CBD, 205 North Quay.
It plans to develop the project in conjunction with partner Nielson Properties.
HASSELL, REX (New York) and Richards &amp; Spence; Cox Architecture, SOM (Chicago) and Rapt Studio; BVN and SHoP Architects (New York); and Architectus and WOHA (Singapore) will compete for the opportunity to produce a concept design for the circa $600 million sustainable A-grade commercial tower that capitalises on its unique waterfront location and transforms the CBD precinct.
“The calibre of expression-of-interest submissions received from architects were of the highest quality, attracting both local and international interest and making the partnership’s analysis and decision-making process difficult,” Adrian Pozzo, CEO of Cbus Property, said.
“Brisbane is a new world city and we plan to partner with the world’s best architects. The strong interest from the architects both locally and internationally has been driven by Cbus Property’s track record, the site’s significant riverfront location, and Brisbane as an emerging global city.
“The site provides an unrivalled opportunity to establish the innovative workplace of the future and create a new commercial building of inspiring architecture that will represent the new world of work.”
The commercial building is intended to add 50,000 square metres of net lettable area to Brisbane’s CBD office market.
It will form part of an exciting new precinct, the North Quarter, which is undergoing a comprehensive transformation with the delivery of new commercial and residential developments, as well as the new Roma Street Station.
The successful team of architects is expected to be appointed in September, with building construction slated for completion in 2023.
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International architects shortlisted for 205 North Quay design competition

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Global construction company Multiplex has topped out South Tower, the new 41-level office building in Melbourne’s CBD.
South Tower at 80 Collins Street is QIC’s $800 million mixed-use project. 
The 80 Collins precinct is owned by Dexus and Dexus Wholesale Property Fund following QIC’s divestment of the asset in May 2019.
The development project is being delivered by QIC GRE until completion.
The development is located at the 'Paris end', of Collins Street and is one of the largest in Melbourne.
The precinct comprises the new South Tower which will provide office space across circa 43,000 square metres, as well as major refurbishments to the North Tower, an existing 47 level A-grade office building, and construction of a 255-room boutique hotel.
The base building design has been undertaken by local architects Woods Bagot, with collaboration from Dutch firm UN Studio on the South Tower and hotel façades.
A 5,000 square metre retail precinct over a ground and podium level will link the hotel to the North and South Towers.
It will also connect three surrounding streets through a series of laneways to become a new prestigious Collins Street shopping destination.
The new South Tower features a faceted glass exterior cantilevering towards Collins Street, and the interior will feature flexible floor plates with the ability to create inter-floor links to allow occupants to engineer their space for collaboration and enhanced connectivity.
At 216 metres tall, 80 Collins boasts panoramic views across Melbourne.
“80 Collins is also one of the most complex builds we are currently delivering in Melbourne, with the new South Tower constructed to cantilever 12 metres over existing buildings on Collins Street,” said Graham Cottam, Regional Managing Director at Multiplex.
Around 550 workers are on-site every day and around 6,000 tonnes of structural steel and 50,000 cubic metres of concrete have been used to date.
Innovative construction methods include the introduction of a double-deck lifting system with a destination control system.
This system allows the development to achieve a Premium building rating and minimises the size of the core to maximise the net lettable area.
The new South Tower has a 6-star Green Star design rating and is targeting a 5 star NABERS Energy rating.
The building is also WELL ready to allow tenants to pursue further fitout certification.
ESD features include a chilled beam mechanical system to allow for passive temperature control as well as the inclusion of intuitive lighting control.
80 Collins is on track for completion in 2020.
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Multiplex tops out QIC's Collins Street tower

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New research funded by City of Parramatta Council and CRC for Low Carbon Living (CRCLCL) has revealed ways temperatures in Western Sydney can be reduced by as much as 2°C. 
Undertaken in collaboration with UNSW, the detailed study examined hot spots on Phillip Street, Parramatta and recommended cooling strategies, such as increased greenery, shading and the installation of water features, to mitigate urban heat.
In addition to lowering temperatures, these methods can increase comfort by 50-60%, the research said.
"Given Western Sydney can be 5-10°C hotter in the middle of summer than suburbs in Sydney’s east, it is important for us to consider ways in which we can address and reduce the impact of urban heat," City of Parramatta Lord Mayor Cr Andrew Wilson said.
The study’s findings will inform aspects of Council’s Phillip Street upgrade.
Proposed additions included in the $4.3 million first stage of construction include wider footpaths, tree planting, and trialling of misting units.
In future stages, cool pavements are also expected to be trialled. 
"The upgrade of Phillip Street is a key project for Council as it is a key thoroughfare for many of the City’s residents, workers and visitors," Wilson said.
"As Parramatta evolves and grows, we want to ensure the City continues to be great place to live and visit, so this research and the cooling solutions it offers are significant."
The research, led by CRCLC researcher Professor Mat Santamouris, examined air and footpath temperatures on Phillip Street and found that the eastern end of the street was 1°C cooler than the west end due to its proximity to the Parramatta River, and asphalt surface temperatures reached above 50°C in unshaded areas. Wind speeds and other measurements were also taken.
"By pinpointing the hot spots through our intense monitoring over a period of time and gathering other relevant data we could then deliver the City of Parramatta with heat mitigation scenarios specific to Phillip Street," said Professor Santamouris. 
"Cooling strategies, together with smart monitoring and innovative technologies will enhance the area’s importance and attractiveness."
The data was gathered using drone-captured thermal imaging and UNSW’s energy monitoring bus, which helped direct the hot spot mitigation strategies.
CRCLCL CEO Professor Deo Prasad said the research was one of the Centre’s many research projects focussed on encouraging low to zero-carbon living throughout Australia. 
"The Parramatta study is another example of the evidence the CRCLCL has collected during its seven-year life, which will help guide local governments, individuals, industries and communities on how they can lower their carbon footprint and mitigate climate change," Prasad said.
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Parramatta study reveals ways to reduce city temperatures by 2°C

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The Australian Industry Group/Housing Industry Association Australian Performance of Construction Index (PCI) fell by 3.9 points to 39.1 in July, recording the construction industry's steepest overall rate of contraction in six years.
Readings below 50 indicate contraction in activity, with the distance from 50 indicating the strength of the decrease.
Ai Group Head of Policy, Peter Burn, said the decline in Australia's construction industry deepened in July as the Australian PCI fell to 39.1 points.
Steep declines in residential building activity together with a continued drop in commercial construction saw the construction sector’s performance in July record its sharpest monthly contraction since 2013.
Engineering construction activity maintained its stable pattern of activity of recent months, with reports of some project delays and a decline in new tender opportunities keeping activity weaker than 2018 levels.
"Looking ahead, conditions look more fragile than they have for some time with new orders dropping further into negative territory driven by particular weakness in the pipelines of new work in the housing and apartment sectors," Dr Burn said.
HIA Economist, Tom Devitt, said: "The Australian PCI showed the contraction in overall construction activity accelerated in July, although the news was slightly more positive for the residential components. While residential building activity continued to contract in July there are signs that the pace of decline is moderating.
"The positive impact of two cuts to the cash rate and cuts to personal income tax rates will take time to have an impact on residential building but it provides a sound basis to expect that the decline in activity will slow over the months ahead."
<a href="https://www.propertyobserver.com.au/images/2019/8/7/au%20pci%20.jpg" target="_blank">Click here</a> to enlarge: 
<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/2019/8/7/au%20pci%20.jpg" alt="">
Source: Ai Group &amp; HIA Economist 
Australian PCI – Key Findings for July
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<li>July marked an eleventh consecutive month of contraction in the Australian PCI®, with the rate of contraction at its steepest in six years (down 3.9 points to 39.1).</li>
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<li>The fall in the Australian PCI® was associated with a continued decline in new orders (down 5.5 points to 36.0 – also a six-year low) and a further reduction in deliveries from suppliers (down 1.5 points to 40.0).</li>
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<li>Employment also recorded a sharper rate of contraction (down 7.7 points to 35.9) indicating a general reluctance by businesses to increase their workforce capacity amid ongoing soft demand at an aggregate level.</li>
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<li>Three of the four construction sectors in the Australian PCI®continued to contract in July (in trend terms), with only engineering construction being broadly stable (down 0.8 points to 49.4). Apartment building was the weakest performing sector, declining for 16th straight month (down 0.2 points to 36.4), while house building also weighed heavily on overall industry conditions in its 12th consecutive month of contraction (up 0.6 points to 38.3).</li>
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<ul>
<li>Cost pressures remained relatively high for building projects in July, despite the input prices index dropping 4.2 points to 63.2. Growth in wages also continued, albeit at a more moderate rate (down 3.1 points to 57.8), as difficulties in sourcing skilled labour persist.</li>
</ul>
<ul>
<li>The selling prices index continued to contract in July, if at a slower rate (up 5.0 points to 36.6). This negative reading indicates that rising input prices and other costs are not, on average, being passed on to customers, as profit margins continue to be squeezed for businesses in the construction industry.</li>
</ul>
<a href="https://www.propertyobserver.com.au/images/2019/8/7/au%20pci%202.jpg" target="_blank">Click here</a> to enlarge:
<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/2019/8/7/au%20pci%202.jpg" alt="">
Source: Ai Group &amp; HIA Economist 
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Construction index records sharpest drop in six years amid weaker demand

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The PwC-audited listed rural property trust, Rural Funds Group saw its share price jump by 50 cents on resumption to ASX trading having slumped earlier this week by 50 percent.
The stock had dropped 99c to $1.36 in its early trade, with its Thursday resumption seeing trading at $1.86 in Thursday trading.
It was a 36 percent gain.
It is still trading below the price before the rural property trust was the subject of an adverse report by a short selling research group.
The earlier $335 million wipeout in just under the first 30 minutes of trade on Tuesday came after it was targeted in a report by the US-based short-seller Bonitas Research.
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Bonitas's previous damaging report was on Blue Sky Alternative Investments last year. 
Rural Funds Management managing director David Bryant had quickly hit back at the negative report, and presented shareholders with an update today.
Byrant has engaged EY to undertake a review within the next three week of the audited accounts which he said were accurate, barring one small item.
RFG owns more than $900 million worth of agricultural assets including almond and macadamia orchards, vineyards, water rights and cattle farms.
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It was last in the headlines when the rural property trust bought Cobungra Station (pictured) for $35 million earlier this year.
Cobungra Station – one of Victoria's largest and most prestigious high-country beef breeding enterprises – was sold for only the third time in 100 years.
The $35 million deal secured the 6486-hectare alpine beef property at the foot of Mount Hotham, plus more than 24,000 hectares of adjacent grazing licences.
 
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Rural Funds Group shares jump after earlier attack from Bonitas Research

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Mirvac's residential revenue has fallen 33 per cent in 2019 in the so-called soft downturn.
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Mirvac Group announced its full-year results for the financial year ended 30 June 2019.
 The group achieved an overall statutory profit of $1 billion for the fourth consecutive year, delivered at the top end of guidance.
Mirvac’s Susan Lloyd-Hurwitz, suggested it was its "award-winning urban asset creation capability" that helped keep it in a robust capital position.
It settled 2,611 residential lots, exceeding the Group’s FY19 target. 90% of exchanges were domestic.
<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/2019/8/8/Mirvac%20operating%20results.jpg" alt="">
Defaults remained below 2 per cent; with secured future income with $1.7 billion of residential pre-sales.
Mirvac’s existing pipeline supports the ability to release over 10,000 lots over the next four years.
The residential division delivered gross development margins of 27 per cent, above their target of 18-22 per cent.
<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/2019/8/8/Mirvac%20major%20settlements.jpg" alt="">
It supplemented the group’s residential pipeline of 28,000 lots with the acquisition of a 33.5-hectare site at Henley Brook, WA, 22 kilometres north of Perth and a 171-hectare, quarry site at Wantirna South, VIC, 25 kilometres south-east of Melbourne.
“Despite a challenging market, we have seen sustained sales throughout the financial year, and we achieved our settlement target and maintained our default rate at less than 2 per cent," Lloyd-Hurwitz stated.
"This is testament to the enduring quality of our products and our trusted brand.
“Looking forward, our strong residential gross margin reflects the capital efficiency of our development structures, and we have carefully restocked in the changing market, with a number of new development opportunities in established Mirvac sub-markets including Henley Brook, WA and Wantirna South, VIC, putting us in a strong position to take advantage of the anticipated upswing.”
 
 
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Mirvac's residential revenue down 33 percent

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Cavvanbah Beach House, a five bedroom holiday let located just metres from Byron Bay's surf beach, has sold for $3.2 million.
The beach house, which nets around $200 a night on holiday letting websites, had been on the market for two years before its recent sale.
It initially had hopes of nearly $4 million when first listed in mid-2017.
Jeremy Bennett from Byron Bay Property Sales secured the sale after quietly taking over the listing.
Nestled on a 865 sqm Cavvanbah Street block, the traditional Australian beach house style home is set amongst lush sub-tropical gardens.
<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/2019/8/7/byron%20bay%204.jpg" alt="">
It comprises five bedrooms, five bathrooms and five parking spaces. 
Each of the bedrooms has its own private entrance with direct access to the salt-water pool and gardens. 
<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/2019/8/7/byron%20bay%205.jpg" alt="">
It's located just a few minutes walk from the town centre. 
It last sold at $1.8 million in 2012.
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Byron Bay beach house sold off market 

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A new three-level home with Swan River views in Mosman Park, Western Australia is currently under offer.
Vivien Yap and Phoebe Shi of Ray White Dalkeith/Claremont have the listing. 
Built in 2015 by Seacrest Homes, the home at<a href="https://www.realestate.com.au/property-house-wa-mosman+park-131118026" target="_blank"> 2 Masson Mews</a> comprises five bedrooms, five and a half bathrooms, open plan living, home theatre and pool.
The gourmet and chef-style kitchen is completed with Gaggenau and Miele appliances plus fully-equipped butler's pantry. 
<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/2019/8/5/mosman%20park%202.jpg" alt="">
The open-plan living area offers Swan River views and combines with an alfresco entertaining area featuring outdoor kitchen and swimming pool.
The upstairs comes with master suite with lounge area and river views, and three minor bedrooms all with private ensuite.
There is another fully equipped guest suite with kitchenette and ensuite.
<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/2019/8/5/mosman%20park%203.jpg" alt="">
Other highlights of the home include separate study, polished veneer built-in furniture, elevator, and custom glass door. 
Positioned with views of the Swan River, it is only moments from Leighton Beach, restaurants, cafes, and boutique shops. 
It was auctioned on-site on July 27. 
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Mosman Park trophy home with Swan River views under offer

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EG, an Australian real estate fund manager, has purchased 230 Captain Cook Drive, Kurnell in NSW for $36 million.
The transaction was brokered off-market by Trent Gallagher of Colliers International.
Located approximately 30 mins drive from Sydney Airport and Port Botany, the two-level commercial building and industrial warehouse built over three stages between 2010 and 2013 consists of 15,955 square metres of gross lettable area.
The asset has been acquired on a two-year leaseback to Dicker Data, a leading distributor of IT hardware, software cloud and loT solutions.
The net passing income of $2.1 million per annum delivers an initial yield of 5.8%.
The acquisition is the first property secured for the Australian Core Enhanced Fund (ACE), just one month after the $800 million fund was launched.
ACE is an open-ended, diversified fund targeting office, retail and industrial assets.
The Head of Australian Core Enhanced Fund, Daniel Farley said the Dicker Data facility offers a newly constructed, high-quality industrial facility located within a gentrifying precinct with strong tenant demand.  
"We are strong believers in the underlying drivers behind the broader industrial market and this asset is perfectly positioned to benefit given the short leaseback period," Farley said.
"EG is looking forward to many more successful acquisitions for our investors in the ACE fund."
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EG makes industrial Kurnell acquisition for Core Enhanced Fund

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Andrew Wilkinson, chief executive officer at ALE Property Group has decided after 16 years to depart the group.
Wilkinson intends to remain in the role until the 2018 rent determinations are completed and a new CEO is appointed.
During his tenure Wilkinson has overseen a growth in ALE’s market capitalisation from $91 million to more than $1.0 billion delivering a total return of around 20% per annum.
ALE is the owner of Australia's largest portfolio of freehold pub properties, with 86 across the country. 
The ALE chairman, Robert Mactier, said the board will work with Wilkinson to confirm the optimal timing of his departure.
"ALE will commence a CEO search process in the coming weeks,” he said.
Wilkinson’s announcement follows the recently completed non-executive director renewal process and the lodgement of the 2018 rent review submissions.
ALE Property Group today released its FY19 financial results.
Highlights
· Distributable profit of $28.3 million
· Statutory net profit after tax of $26.6 million
· Full year distribution increased 0.5% to 20.90 cents per security
· Full year distribution will be 81.32% tax deferred
· Current passing gross rent increased 4.28% to $61.04 million following the completion of the 2018 rent review for 36 of the 79 properties involved
· Weighted average adopted yield increased from 4.98% to 5.09%
· Directors’ valuations of 86 properties increased by 2.4% to $1,163.2 million
· ALE continues to benefit from the majority of properties being subject to long term triple net lease arrangements with up to 40 years of options
· Spread between falling Australian Government long term bond rates and the yields applying to ALE’s properties has materially expanded
· Capital position remains strong with gearing at historic low of 41.5%
· Debt maturities are diversified over the next 4.4 years
· Rent review outcomes are expected to deliver a positive result
· 2003 investment of $1.00 in ALE has an accumulated value of $17.44 at 30 June 2019 or an annual total return of 20.1% p.a.
Results for Year Ending 30 June 2019
The difference between the distribution and distributable profit for the period was paid out of capital and funded from existing cash reserves. Distributable profit excludes the non-cash accounting items including changes to investment property and derivative values.
Distributable Profit 
A number of factors contributed to a distributable profit of $28.3 million for the year to 30 June 2019:
· Property income increased by 3.7% to $60.2 million due to rent increases of 10% for 36 of the properties from November 2018, and CPI or fixed rent increases for seven properties, that are not subject to the 2018 rent review process; 
· Borrowing expenses remained largely unchanged;
· Management expenses were higher due to $3.1m of additional costs of preparing rent review submissions for determination; and 
· Land tax expenses increased based on increased land value assessments and the higher rates now applicable in Queensland.
The distribution of 20.90 cents per security will be 81.32% tax deferred.
Accounting Profit Result
ALE’s reported net profit after tax (NPAT) of $26.6 million for the year to 30 June 2019 includes non-cash changes to the value of the properties and interest rate derivatives. The NPAT also includes other non-cash items including amortisation of pre-paid financing costs and CIB accumulating indexation. A full reconciliation of accounting profit to distributable profit has been provided in the Directors’ Report.1
Statutory Property Valuations
The statutory valuations of ALE’s properties increased by 2.4% to $1,163.2 million at 30 June 2019 based on independent valuations of a representative sample of 34 of ALE’s properties conducted by CBRE and Savills. Consistent with the increase in rents and stable market yields for pub properties, ALE’s weighted average adopted yield increased from 4.98% to 5.09%. The portfolio’s passing gross rent (or annualised gross rent as at 30 June 2019), increased 4.28% during the year to $61.04 million.
For further details please refer to the ASX Announcement made by ALE on 15 July 2019.
Capital Management
ALE’s debt capital structure was characterised by the following positive features at June 2019:
· Investment grade credit rating of Baa2 (stable)
· Next debt maturity in August 2020
· Debt maturities diversified over the next 4.4 years
· 100% of forecast net debt hedged over the next 6.4 years
· All up cash interest rate of 4.26% fixed until August 2020
· Gearing at historical low of 41.5% (41.6% at June 2018)
· Interest cover ratio at 2.5 times (2.6 times at June 2018)
ALE’s debt facilities include a number of market standard covenants. ALE currently enjoys significant headroom to all of them. The total value of ALE’s properties would need to fall in value by 32% (around $370 million) before meeting the nearest gearing covenant.
ALE has two types of fixed rate debt instruments, Capital Indexed Bonds (CIB) and Australian Medium Term Notes (AMTN) with diversified maturities.
2018 Rent Review 
During the 2019 financial year, ALE’s first major rent review commenced on 79 of the ALE’s 86 investment properties. Of the remaining seven properties, four properties have later review dates, including two that have received CPI increases in the current period, and three properties have non-standard leases. 
On 3 August 2018, ALE issued rent notices to its tenant, ALH, advising that the rent on each of the 79 properties subject to the current rent review should increase by 10%. ALE and ALH had already agreed that two properties’ rents would increase by 10%. ALH accepted the rent notices on 32 of the properties and rejected the remaining 45 notices. ALH has subsequently accepted two additional properties. 43 properties remain subject to independent determination.
The 36 accepted rent notices and regular CPI and fixed rent increases on six other properties increased ALE’s total passing gross rent as at 30 June 2019 to $61.04 million, an increase of 4.28% on the prior year. QLD land tax is the only deduction included in ALE’s total net passing rent.
The passing gross rent for the remaining 43 properties may increase or decrease by up to 10%.
The following table provides additional information around the types of leases and timing of the rent reviews:
ALH and Endeavour Group
On 3 July 2019, Woolworths Group, ALH’s majority shareholder, announced that it has entered into an agreement to merge its Endeavour Drinks division with ALH. Woolworths’ shareholders approvals for the merger are expected in late CY19 and the merged entity is to be named Endeavour Group. This will create Australia’s largest drinks and hospitality business with sales of approximately $10 billion and EBITDA of $1 billion.
Following the merger and as a second step, during CY20 it aims to separate Endeavour Group from Woolworths by demerger or value accretive alternative. In event of a demerger, the Group’s capital structure will target an investment grade rating.
ALE will continue to monitor any developments in relation to the control and ownership of ALH.
ALE’s Performance
As indicated by the chart below, ALE has underperformed both S&amp;P/ASX 300 AREIT index and the S&amp;P/ASX All Ordinaries Index over the past one and three years. However over the past five, 10 and 16 years to 30 June 2019, ALE has delivered total returns that have outperformed both those indexes.
A $1.00 investment in ALE at the time of the ASX listing nearly 16 years ago, with reinvested distributions, would have grown to $17.44 as at 30 June 2019.
This is equivalent to 20.1% p.a. total return since the ASX listing.
FY20 Outlook 
Non-recurring FY19 rent review submission costs of $3.1m reflect the commitment of time, resources and external experts to the process. 
ALE’s current view is that the total passing rent is materially less than the uncapped rents. That said, the extent of the difference between passing and uncapped rent is not evenly spread across the portfolio. 
Rents may increase or decrease by up to 10% for remaining 43 determinations. The range of gross passing rent for the portfolio of 86 properties is as follows:
· Worst case $58.5m (no change)
· Best case $63.7m (+8.9%)
Note: Changes are in comparison to the gross passing rent before any Nov 2018 rent increases are applied. Best case is less than + 10% as seven of the 86 properties are not included in CY18 rent reviews 
ALE remains confident of a positive result but notes it may not receive a full 10% rent increase for all properties. The remaining 43 rent determinations are to be handed down at the same time and are currently anticipated late CY19. The rent determination results will be back dated to 4 November 2018. 
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ALE Property Group CEO resigns

The new <a href="https://www.apartments.com.au/new-apartments/yarraville-green-42-stephen-street-yarraville-vic-3013">Yarraville Green</a> development in Melbourne's inner west is showing that landscaping can be just as influential as architecture, with buyers responding strongly to the garden-first approach adopted from the outset by developer Excelon Projects and the project's design team.

Excelon appointed Six Degrees Architects and landscape architects SBLA to work collaboratively on the development, with a brief to create "a sustainable, design-led building with a focus on community."

That approach has resonated with buyers. According to Next Chapter Director Tom Hirini, who is leading the sales campaign, the landscaped communal garden has become one of the project's defining features, alongside its boutique scale and European-inspired cluster housing concept.

Local downsizers, right-sizers and established families already living in Yarraville and surrounding suburbs have accounted for the majority of purchasers.

[smartcode_project:default project_id=144913 project_image_fid=297740]

Yarraville Green will comprise 53 homes, including apartments and townhomes, arranged around the shared central garden to maximise connections to the landscaped open space. Parking has been moved underground, allowing the ground plane to be dedicated to greenery, pedestrian movement and communal spaces.

The landscape extends well beyond passive planting. Productive garden beds, a pergola, communal gathering spaces, garden sheds and a pet wash have all been integrated into the masterplan, creating spaces designed to encourage everyday interaction between residents.

[smartcode_project:default project_id=144913 project_image_fid=297741]

The interiors continue Excelon's focus on craftsmanship, incorporating bespoke elements by Melbourne artisans including leadlight detailing by Adadaz, hand-turned timber hardware by Auburn Woodturning and blown-glass lighting by Ruth Allen.

Sustainability has also been embedded throughout the project, with Yarraville Green targeting an average 7-star NatHERS energy rating through passive design principles, rooftop solar servicing common areas and rainwater harvesting for landscape irrigation.

[smartcode_project:default project_id=144913 project_image_fid=297735]

Construction continues to progress at Yarraville Green, with structural works well underway and framing works approaching completion under builder Balmain &amp; Co. The project remains on track for completion in mid-2027.

Apartments at Yarraville Green are currently priced from $625,000, while townhomes start from $1.4 million.

[smartcode_project_cta:default project_id=144913]

Joel Robinson

Garden-led design drives buyer demand at Yarraville Green

National diversified developer Fortis has officially launched Crest &amp; Walker, its latest Brisbane apartment development, with construction now underway on the 20-storey Newstead project.

Award-winning builder BINAH has commenced construction on the Bureau^Proberts-designed building, which will deliver a limited collection of 65 two and three-bedroom apartments on Kyabra Street.

[smartcode_project:default project_id=145922 project_image_fid=373556]

The project marks Fortis' fourth active residential development in Brisbane, following River House, which is nearing completion, alongside projects in New Farm and Hamilton as the national developer continues to expand its South East Queensland pipeline.

Fortis General Manager – Development Queensland Dan Boman said Crest &amp; Walker reflects the developer's long-term commitment to delivering design-led residential projects in Brisbane's established inner-city suburbs.

"We're proud to be strengthening our presence in Brisbane with Crest &amp; Walker, particularly in such a sought-after lifestyle destination as Newstead," Boman said.

"Every Fortis project is shaped by its context, and we approach each one with the respect and care it deserves.

"Our focus is always on creating places that feel connected to their neighbourhood and elevate the everyday experience for residents. Newstead continues to evolve as one of Brisbane's most sought-after urban communities, and Crest &amp; Walker reflects our ambition to contribute meaningfully to that story."

[smartcode_project:default project_id=145922 project_image_fid=373559]

Positioned between Gasworks Plaza and James Street, <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a> has been designed as a boutique residential address offering privacy and generous living spaces within one of Brisbane's most established lifestyle precincts.

The building features a contemporary brick podium softened by integrated landscaping, while the upper levels are characterised by restrained architecture and enduring materiality. Interiors have been designed to maximise natural light, acoustic performance and long-term liveability.

[smartcode_project:default project_id=145922 project_image_fid=373583]

Residences comprise spacious two and three-bedroom floorplans, with two-bedroom apartments priced from $1.55 million and three-bedroom, half-floor residences from $3.95 million.

Residents will have access to a wellness-focused rooftop featuring a swimming pool, sauna, steam room, landscaped dining spaces and outdoor lounge areas overlooking Newstead and the Brisbane CBD.

[smartcode_project:default project_id=145922 project_image_fid=373571]

Sales are being managed by Slaite Projects, with Fortis expecting strong demand from owner-occupiers seeking a high-quality, design-focused apartment in one of Brisbane's most tightly held inner-city suburbs.

Completion of Crest &amp; Walker is slated for late 2028.

[smartcode_project_cta:default project_id=145922]

Fortis expands Brisbane pipeline with launch of Crest & Walker in Newstead

The enormity of delivering a true skyscraper in Australia's new development market is often overlooked.

It has taken the best part of a decade since plans for Chevron One were first unveiled, but the 41-storey tower is now complete, with residents collecting their keys and moving into what has become one of the Gold Coast's most recognisable new landmarks.

Rising 127 metres above Chevron Island, Chevron One stands almost twice as high as any other building on the island. Its scale places it alongside the trio of towers at Jewel, arguably the last truly significant addition to the central Gold Coast skyline when they were completed around six years ago.

While there are several developments underway around a similar height to Chevron One, they are more concentrated within clusters of the highest towers in the city. The fact Chevron One sits within a developing precinct, looking back at the other high-rise developments in Surfers Paradise and Broadbeach, makes it a different proposition altogether. It will certainly become a reference point on the Gold Coast skyline.

[smartcode_project:default project_id=6515 project_image_fid=68833]

Developer Bensons Property Group is behind the 41-storey tower, which has 229 apartments, along with an exhaustive list of resident amenity spread across what is the largest development site ever assembled on Chevron Island.

The tower has been the talk of the town for years, says Ray White Projects Gold Coast agent Caitlin Rosenboom, who is selling the remaining apartments.

"People have been watching Chevron One go up for years," Rosenboom says, adding that many prospective buyers have been surprised by the scale of the views once they step inside.

"It's only when they walk through a completed apartment that they truly understand the position of the building," Rosenboom says.

"The views are jaw-dropping. Whether you're looking east over the ocean, across Surfers Paradise, along the river systems or out to the hinterland, every level offers something different but equally impressive."

[smartcode_project:default project_id=6515 project_image_fid=360215]

One of Chevron One's defining advantages is its location on the eastern side of Chevron Island on Stanhill Drive, a position which protects the views forever.

"There's only one row of houses between Chevron One and the water, and the height restrictions along the river means views from Chevron One can never be built out,"&nbsp;Rosenboom says.

While new apartment developments continue to emerge across the Gold Coast, Rosenboom says opportunities to secure a completed apartment with this level of outlook are becoming increasingly rare.

"The size of the site is something that would be incredibly difficult to replicate today," she says.

"That's allowed Chevron One to deliver the sort of amenity, open space and resident facilities that very few projects can offer. There are not many completed apartment buildings on the Gold Coast right now that can compete with the combination of scale, quality and amenity."

[smartcode_project:default project_id=6515 project_image_fid=68839]

There's around 2,000 sqm of amenity solely for the use of residents of Chevron One. Club One features a uniquely shaped swimming pool that mirrors the footprint of the building itself, set within a extensively landscaped gardens. There's also an indoor pool and spa, a fully equipped gym with a Pilates room, a yoga garden, a bookable private dining area and lounge that can host up to 30 people, and a 24-hour concierge service.

As for the buyers, Rosenboom is fielding enquiry from everywhere: Sydneysiders and Melburnians looking at the new and off-the-plan market following the changes in the Federal Budget, as well as those looking to relocate, through to South East Queenslanders seeking either a permanent home or a weekender bolthole.

"The Gold Coast lifestyle continues to resonate with people relocating from the southern states, and when they see the views and the quality of what's been delivered at Chevron One, it becomes very easy for them to understand the appeal," Rosenboom says.

A diverse mix of one, two and three-bedroom apartments remain available, with each offering "something a little different", be it the orientation and views, configuration, or level, to suit a wide variety of buyers.

The remaining apartments are ready to inspect in person, by appointment.

[smartcode_project_cta:default project_id=6515]

A decade in the making: Residents to move into Chevron One as construction wraps up

A general rule of thumb in new apartment developments is that the penthouses get the rooftop.

It's a formula that's become commonplace across Australia's apartment market. Residents might have access to a pool, gym or barbecue facilities on a dedicated lower level, but the most desirable outdoor spaces are typically reserved for the highest-priced homes at the top of the building.

<a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> has taken the opposite approach.

Rather than dedicating the rooftop to a handful of buyers, the Gold Coast developer has made it the centrepiece of its Flourish collection, creating expansive shared spaces from the best vantage point in the building.

The philosophy has reached its most ambitious expression at <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> in Palm Beach, where two rooftop precincts connected by a skybridge will deliver one of the most extensive lifestyle offerings seen in a residential apartment project on the Gold Coast.

[smartcode_project:default project_id=150017 project_image_fid=374053]

"We're seeing a clear move toward developments that offer more than just an apartment," Sherpa Group founder Christie Leet said.

"People want spaces that support how they actually live, whether that's working from home, staying active, or spending time with family and friends.

"That's where amenity becomes critical. It's not just about what's included, but how those spaces are designed to be used every day."

[smartcode_project:default project_id=150017 project_image_fid=374052]

The breadth of amenity has already attracted buyers across multiple demographics. Younger first home buyers have been drawn to Soleira's one-bedroom apartments, a product rarely delivered in Palm Beach, while families have responded to practical inclusions such as the shallow children's pool adjoining the main lap pool and the extensive communal recreation areas.

Instead of a single rooftop, Soleira delivers two distinct lifestyle zones.

[smartcode_project:default project_id=150017 project_image_fid=372547]

The southern rooftop has been dedicated to wellness, featuring a gym, yoga and Pilates studio, work-from-home facilities, a wellness centre, spa, and hot and cold plunge pools.

The northern rooftop focuses on recreation and entertaining, incorporating a heated resort-style pool, private dining rooms, pizza ovens, barbecues, a golf simulator, children's recreation areas, and what is expected to be the Gold Coast's first rooftop basketball court, which will also double as a squash court.

[smartcode_project:default project_id=150017 project_image_fid=374054]

Beyond the rooftops, Soleira will introduce 1,500 sqm of curated retail beneath the towers, creating one of Palm Beach's first genuinely mixed-use lifestyle precincts where cafés, restaurants and convenience retail become part of residents' everyday lives.

Sherpa has also retained management rights across the development, allowing it to oversee the long-term operation of the building through a 24-hour concierge model. The developer is also exploring additional revenue streams within the precinct aimed at helping offset ongoing body corporate costs for residents.

[smartcode_project:default project_id=150017 project_image_fid=370962]

While Soleira is the largest project Sherpa has delivered, the rooftop-first philosophy has been evolving for several years.

It began with <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>, the first project released under the Flourish brand. Rather than competing at the ultra-luxury end of the market with oversized half-floor and full-floor residences, Sherpa focused on creating lifestyle-driven apartments supported by resort-style shared spaces.

Amargo introduced more than 800 sqm of rooftop amenity, combining wellness facilities, heated pools, entertaining areas, cabanas, pizza ovens and private dining spaces into what was designed as an extension of residents' homes rather than a facility used only occasionally.

[smartcode_project:default project_id=146527 project_image_fid=366550]

That approach continued with Flourish Oasis, where the same amenity-led philosophy was refined into a more boutique development. Strong demand from Sherpa's growing VIP database saw much of the project sold before it reached the broader market, reinforcing buyer appetite for apartment communities centred around shared lifestyle experiences.

Flourish Amargo is slated for completion mid-way-through next year, with Oasis to be delivered by late 2027. Flourish Soleira is expected to complete in 2030.

[smartcode_project_cta:default project_id=150017]

Sherpa takes amenity to the sky as Flourish Soleira captures booming Palm Beach demand

As apartment living continues to evolve across Sydney's growth corridors, the quality and distribution of shared spaces is increasingly shaping how residents experience home. Rather than functioning as add-ons, amenities are being embedded into the daily rhythm of a building, supporting everything from quiet retreat to social interaction, often within a single vertical community.

At <a href="https://www.apartments.com.au/new-apartments/aeris-melrose-park-nursery-street-melrose-park-nsw-2114">Aeris</a> in Melrose Park, this approach is resolved through a layered amenity offering that unfolds from ground level through to its upper podium. Developed by <a href="https://www.apartments.com.au/developers/sekisui-house-australia">Sekisui House Australia</a> in partnership with Hankyu Hanshin Properties, the project introduces 468 apartments across two towers and a mid-rise building, positioned at the highest point of the broader masterplan.

[smartcode_project:default project_id=426 project_image_fid=359199]

The amenity experience begins at street level, where two courtyards sit within a landscaped setting that connects residents to the wider network of parks and green spaces. These green spaces are not isolated pockets but part of a wider pedestrian network that links Aeris to the surrounding <a href="https://www.apartments.com.au/developments/melrose-park-nsw-2114">Melrose Park</a> precinct, including Central Park, future schools, and the Town Centre opening in July 2026. The result is a transition that moves from public to private without abrupt boundaries, allowing residents to pass through shaded, tree-lined environments before reaching the building itself.

Moving upward, the focus shifts to the level five podium, where the primary communal facilities are concentrated. This space brings together a 16-metre swimming pool, outdoor seating areas, and a communal BBQ zone arranged to take advantage of elevated outlooks. Seating is positioned beneath pergolas, creating pockets of shade that extend the usability of the space throughout the day. The pool edge aligns with views toward the wider district, reinforcing the sense of elevation that defines the project’s positioning.

In the adjacent building, this is complemented by quieter, more contemplative spaces, including an outdoor cinema set within the same level. Positioned to operate primarily in the evening, it introduces a different tempo to the shared environment, shifting from daytime activity to after-hours use without requiring separate zones.

[smartcode_project:default project_id=426 project_image_fid=360299]

The podium also accommodates an intimate private resident gym. Located on the lower levels, it gives residents convenient access to fitness facilities without leaving the building.

Above, the elevated podium sky deck extends the amenity offering, providing additional open-air spaces with elevated outlooks across the surrounding landscape. While more restrained in program, this upper level reinforces the project’s vertical progression, from ground-level greenery to elevated outlook, allowing residents to move between distinct spatial conditions within a single address.

This distribution of amenities reflects a deliberate response to how residents use space across the day. Sekisui House Australia Sales and Marketing Director Peter Kalaf points to the role these shared areas play in shaping buyer demand. Aeris has been conceived as more than a collection of apartments, with the podium pool, gym and outdoor cinema forming part of a broader lifestyle offering that extends the home beyond each individual residence.

[smartcode_project:default project_id=426 project_image_fid=360300]

What distinguishes Aeris is not the inclusion of these elements individually, but how they are arranged in relation to one another. Active, social, and passive spaces are layered vertically rather than separated, allowing residents to choose between them without leaving the building or moving far from their apartment. This proximity supports both routine use, such as a morning swim or evening workout, and more occasional gatherings, whether around the BBQ area or within the cinema setting.

The amenity design also sits within a broader framework of connectivity across Melrose Park. The Melrose Park Town Centre, anchored by Coles and Dan Murphys, features a mix of retail, dining, health and lifestyle offerings, bringing everyday convenience closer to residents. By the end of the year, more than five hectares of parks and open space, equivalent to around seven football fields of green space on residents' doorstep, will further enhance the precinct, allowing the internal facilities at Aeris to operate as an extension of the wider neighbourhood rather than a substitute for it.

Construction at Aeris continues to gather momentum, with ground floor slabs expected to be completed in late 2026 before the first sections of the buildings begin to rise above ground.

[smartcode_project_cta:default project_id=426]

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