<html><body><div class="page" title="Page 1">
<div class="layoutArea">
<div class="column">
Craig McKellar of CVA has just leased a commercial space in the Craigieburn Plaza at Craigieburn.
The fully fitted 86sqm property at Shop 5, 32-38 Craigieburn Road was leased on a 3 + 3 + 3 year lease term.
Universal Real Estate are the lessors at a rate of $50,000 per annum equating to a building rate of $581.40/sqm.
featuring a frontage of 7 m, the property contains three separate offices, reception, staff amenities and in excess of 300 public car spaces.
Located within a recently developed estate, the property is within close proximity to Dynon Road, CityLink and Melbourne's CBD.
</div>
</div>
</div></body></html>

j.ballantyne1990-6AQqhLzZaK

Universal Real Estate leases Cragieburn Plaza space

<html><body><div class="page" title="Page 1">
<div class="layoutArea">
<div class="column">
An established café/restaurant site located in the Brunswick Cumberland Hotel Building has just been leased.
It was listed by Craig McKellar of CVA.
The 236 sqm property at Shop 1, 337-341 Sydney Road was leased for $112,500 per annum by Plonk Bar &amp; Eatery Pty Ltd.
They are the current owners of Vale Bar &amp; Eatery in Ascot Vale.
It is a 5 + 5 + 5 + 5 year lease term equating to a building rate of $476/sqm.
The property features a first floor office, seating capacity for 95 patrons, general liquor licence, and 5 on-site parking spaces.
It is supported by transport services at its doorstep.
</div>
</div>
</div></body></html>

Plonk Bar & Eatery leases Brunswick restaurant

<html><body>
The Block’s 2020 season, which will be shot in Melbourne’s bayside at Brighton, looks set to be a battle of the decades.
There will be five relocated homes, one from every decade between the 1920s and the 1960s (1940s above).
I’m guessing the contestant couples will then take their decorative themes from the era in modernising their home, which will also come with a rear two-storey extension.
Maybe the time-warp series will be something like Annabel Crabb’s Back in Time for Dinner on the ABC, but for the masses and sponsored by McCafe and Youfoodz.
The worthy sustainable recycling endeavour is similar to the show’s Elsternwick series two season’s ago when five weatherboard homes facing the wrecking ball were relocated under host Scott Cam’s watch.
This time they will be installed on a 2770 square metre holding being bought by Channel 9 for around $15 million.
It was once a nursing home which was bought for $5 million in 2013 by Nick Williams, the son of horse trainer, Lloyd Williams, after its closure.
The parcel was onsold by another developer who proposed 13 townhouses.
The next series of The Block starts next month with the refurbishment of the Oslo Hotel, St Kilda.
The producers quit Sydney in 2011 complaining that they couldn't cope with our councils.
This article first appeared in The Sunday Telegraph. 
</body></html>

The Block 2020 to be a battle of the decades

<html><body>
An Innaloo, West Australia mortgagee home has been listed for $400,000.
The asking price is down on its previous sale price.
Matt McWaters and Tony John of Harcourts Empire are currently marketing the listing.
Situated at <a href="https://www.realestate.com.au/property-villa-wa-innaloo-131419346" target="_blank">13A Morris Road</a>, the villa previously transacted for $485,000 back in 2008.
Set on 251 square metres, the three bedroom, two bathroom town house is described in the listing as a "spacious entertainer".
<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/2019/7/31/inaloo%201%201.jpg" alt="">
One of a complex of four, it is located opposite the convenient Morris Place shopping centre.
It's within walking distance of public transport, schools, parks, restaurants and entertainment.
The home was listed as a rental as recently as April 2018 seeking $400 per week, down from the $450 per week it sought in July 2017 and $470 per week it was asking for in April 2017.
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><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/2019/1/Subscriber%20strip%20ad.jpg" alt=""></a>
The median sale price for a home in <a href="/developments/innaloo-wa-6018">Innaloo</a> is $545,000, according to CoreLogic, which calculate its annual change in median price over the past 10 years as -0.4%.
</body></html>

Innaloo, WA mortgagee home listed for 20% reduction on previous sale price

<html><body>
The gambling company Ladbrokes has become a lessor in Bowen Hills, Brisbane.
It has committed to a 10-year lease for 3,250 square metres over Levels 1 and 2 at 25 Montpelier Road.
Industry sources said the space would fetch $565-$575 square metres gross.
With 25 Montpelier Road fully leased, the property will be shortly listed for sale with a WALE of six years.
The A-Grade building is located within the hub of the trend-setting Gasworks Precinct.
Completed in 2011, the 4-star Green Star Rated Asset has one of the largest floor plates in the city fringe.
It sits across the road from the Fortitude Valley Homemaker Centre, 250 metres from the Gasworks Retail and Restaurant Precinct and 500 metres from Bowen Hills Train Station.
</body></html>

Gambling agency Ladbrokes secures Bowen Hills tenancy

<html><body>
There have been no major shifts in Australia's industrial property markets in the past month, according to valuation firm Herron Todd White's latest industrial property clock.
Four of the eight capital cities hold a positive position in their industrial property market.
Melbourne is the strongest as it holds the peak of market position, it is joined by Coffs Harbour.
Meanwhile, industrial space in Sydney and the Sunshine Coast is approaching peak of market.
Brisbane and Hobart are classed as rising markets.
Click <a href="https://www.propertyobserver.com.au/images/2019/7/22/HTW%20INDUSTRIAL%20PROPERTY%20CLOCK%20JULY.png" target="_blank">here</a> to enlarge.
<a href="https://www.propertyobserver.com.au/images/2019/7/22/HTW%20INDUSTRIAL%20PROPERTY%20CLOCK%20JULY.png" target="_blank"><img src="https://www.urban.com.au/images/2019/7/22/HTW%20INDUSTRIAL%20PROPERTY%20CLOCK%20JULY.png" alt=""></a>
Adelaide, Perth, Canberra and Darwin were not given a position on the HTW Industrial Property Clock this month.
Cairns, Gladstone, Ipswich, Rockhampton, Toowoomba and Townsville all remain at the bottom of the market.
The central Coast and Newcastle industrial property markets are both still in the starting to decline position, according to HTW.
Other areas that are approaching the peak of market include Lismore, the Southern Highlands and the Souther Tablelands.
Echuca, Illawarra, Mildura and Geelong are classified as rising markets while Horsham and Mackay are still in the start of a recovery.
</body></html>

No movement across Australia's industrial market in June: HTW Industrial Clock

<html><body>
GUEST OBSERVATION
<a href="https://www.afr.com/news/politics/national/the-apartment-building-crisis-explained-20190716-p527k0">News</a> of evacuations from cracked apartment buildings in Sydney and the <a href="https://theconversation.com/cladding-fire-risks-have-been-known-for-years-lives-depend-on-acting-now-with-no-more-delays-111186" target="_blank">need to replace combustible cladding across Australia</a> illustrate how uncertainty compounds problems for those affected. Who is responsible for the remedy? Residents have had to leave their homes indefinitely, <a href="https://www.smh.com.au/national/nsw/looking-for-answers-mascot-towers-owners-want-to-return-home-20190627-p521wl" target="_blank">not knowing when their buildings can be repaired and made safe</a>. Others remain in at-risk buildings with the constant <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2019-07-17/apartment-owner-welcomes-victorian-combustible-cladding-fix/11315278" target="_blank">worry about what might happen if fire breaks out</a>.
Some may also wonder whether the remedies really are “safe”. And how much they will be out of pocket? Some <a href="https://www.msn.com/en-au/news/australia/i-couldnt-believe-it-was-happening-how-a-single-mother-with-a-baby-boy-is-left-owing-dollar13000-and-living-in-temporary-housing-after-being-kicked-out-of-her-mascot-towers-apartment/ar-AAEtQZ3" target="_blank">express concern about whether they will ever be able to sell their unit</a> and what their financial fate will be given that their home is their largest investment.
The <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2019-07-18/building-industry-meeting-agrees-to-create-national-body/11320444" target="_blank">outcome of last Thursday’s Building Ministers’ Forum</a> did little to end the uncertainty plaguing residents. More broadly, the uncertainty is hitting the construction industry, with <a href="https://www.smh.com.au/politics/federal/berejiklian-calls-for-national-solution-amid-building-crisis-20190715-p527gj" target="_blank">insurance costs rising and some insurance being withdrawn altogether</a>.
Uncertainty gnaws away at us
How uncertainty plays a central role here can be seen in a little known but classic piece written 50 years ago by a cultural anthropologist. Professor Elizabeth Colson drafted “Tranquility for the Decision-maker” for a volume, <a href="https://www.propertyobserver.com.au/https://www.worldcat.org/title/cultural-illness-and-health-essays-in-human-adaptation/oclc/741222" target="_blank">Cultural Illness and Health</a>.
Colson had studied the Gwemba Tonga of east-central Africa, in what is now Zambia. Villages of the Gwembe Tonga were faced with displacement due to the building of a dam on the Zambezi River. They were given a choice of where to settle.
However, the construction zone barred the villagers’ access to the ritual grounds where they traditionally made such decisions. An inability to arrive at a decision resulted in prolonged uncertainty. Colson witnessed behaviour that suggested the harm that uncertainty had on individual and community mental health.
Colson also told of how the group dealt with drought. Farmers had seed they could plant and then tend, but if they planted it too soon before the rains, the seed would be lost. If they planted it too late or failed to tend it, then the plants would not reach maturity, and they would have no crops for food and no seed for the next year.
Villagers figured that they could find a way to cope with having no crops; they had a “plan B”. However, each day they dithered about whether to plant, going out to the fields but then returning again. The uncertainty had harmful effects on the villagers, Colson explained. They lacked a way to determine whether to adopt “plan B” or stick with “plan A”.
Such an analysis suggests that we can deal with good fortune and bad fortune. What really drives us up the wall is uncertainty.
This uncertainty can be generated by the unpredictability of nature or the volatility of international markets. It’s made worse in situations where clear and unambiguous information is missing.
More problematic are complex and costly situations where delay results from blaming and <a href="https://www.smh.com.au/national/nsw/systemic-crisis-states-responsible-for-fixing-cladding-problems-20190718-p528c5" target="_blank">manoeuvring to avoid paying the financial or political cost</a> of a decision. These two elements can occur in unison: a lack of knowledge and potentially responsible parties evacuating the “blame avenue”.
Situations where uncertainty is playing a role include farmers facing drought, as in Colson’s case, and potential climate change impacts – such as severe weather events for coastal communities.
There are also effects on rural communities of changes in international prices for mining and agricultural exports. Similar dynamics around uncertainty and blame apply to interned <a href="https://theconversation.com/explainer-what-is-resignation-syndrome-and-why-is-it-affecting-refugee-children-101670" target="_blank">asylum seekers awaiting a government decision</a>, the <a href="https://theconversation.com/getting-to-the-heart-of-coal-seam-gas-protests-its-not-just-the-technical-risks-107086" target="_blank">debate about coal seam gas development in Narrabri</a>, and <a href="https://theconversation.com/getting-clean-drinking-water-into-remote-indigenous-communities-means-overcoming-city-thinking-106701" target="_blank">communities with groundwater contaminated by chemicals like PFAS</a>.
In these examples, costs to individuals and families are potentially great relative to their resources. Resolution often requires a central role for large institutions, whether government agencies or multinational corporations.
Uncertainty due to a lack of information is being addressed in certain arenas. For instance, mathematical <a href="https://theconversation.com/why-predicting-the-weather-and-climate-is-even-harder-for-australias-rainy-northern-neighbours-106939" target="_blank">models to predict the weather are improving</a>. The same can be said for models to predict shifts in international commodity prices.
Institutional responses make uncertainty worse
Also needing attention are institutional decision-making processes. Decision-making is often fragmented, as it involves disparate organisations or silos in organisations. Add to that a propensity to avoid taking the blame and shouldering the financial or political cost or the potential impact to one’s career.
This domain falls under the banner of “allocation of responsibility”, an area addressed historically by social and cultural anthropologists looking at law and moral codes. Attempting to avoid blame can contribute to delay in decision-making, which prolongs and potentially deepens uncertainty.
Collaborative efforts can reduce such delays and uncertainty. Collaboration requires the building of trusting working relationships among agencies and organisations – a form of what is called “collective impact”. One also needs openness with affected individuals, families and communities – an element in <a href="https://www.alrc.gov.au/publications/procedural-fairness-duty-and-its-content" target="_blank">procedural fairness</a>.
These aspects are relatively easy to identify but challenging to implement and even more challenging to sustain for a prolonged period.
The point here is that the true impact on residents of cracks in their apartment block, flammable cladding, an uncertain migration status, or PFAS in the groundwater is not merely the inconvenience or out-of-pocket expense. The impact includes prolonged uncertainty about very significant elements of their well-being. That has an impact on individual and community mental health, with potential flow-on effects to physical health.
The remedy involves a greater willingness by organisations and agencies to take on responsibility without delay and improved institutional relationships to arrive at suitable resolutions for the long term. So, our concern should not only be about the cracks in the buildings but about the fissures separating those who together could implement remedies.<img src="https://counter.theconversation.com/content/120662/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;">
Will Rifkin, Chair in Applied Regional Economics and Director, Hunter Research Foundation Centre, University of Newcastle
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/its-not-just-the-building-cracks-or-cladding-sometimes-uncertainty-does-even-more-harm-120662" target="_blank">original article</a>.
</body></html>

It’s not just the building cracks or cladding – sometimes uncertainty does even more harm

<html><body>
A Willoughby, South Australia mortgagee cottage listed six times in the past five years has had its asking price reduced again.
The two bedroom one bathroom cottage is situated on 139 hectares of primary production zoned land.
Paul Gibson of Cliff Hawkins is currently marketing the property.
The earliest indicate of its mortgagee status came in December 2018.
Situated at 2332 Cape Willoughby Road, the holding is listed for $450,000.
The asking price is a $330,000 reduction on what it originally sought back in July 2015 of $780,000.
Featuring two dams, one being spring fed a large working shed/garage and 5 rain water tanks, the property has views from the cottage with decking on three sides.
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><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/2019/1/Subscriber%20strip%20ad.jpg" alt=""></a>
</body></html>

Much listed Willoughby, SA mortgagee holding slashed $330,000 and unsold

<html><body>
A Dudley Park, West Australia mortgagee house has been listed for $89,000 less than its previous sale price.
The property has remained on market for over 500 days.
Theo Alexandrou of Harcourts is currently marketing the listing.
Situated at <a href="https://www.realestate.com.au/property-house-wa-dudley+park-131627150" target="_blank">17 Duyfken Way</a>, the property is a four bedroom two bathroom house.
Originally listed for $449,000 the asking price was repeatedly slashed to $375,000 where it currently resides.
Set on 641 sqm, the previous vendors submitted developers permits for a Pool/Spa in 2007 and a Patio/Pergola in 2008. Both projects were valued at around $9,000, each on a build area of around 30 sqm.
Located in Mariners Cove, the home is approximately a 500 metre walk to the nature reserve and Estuary, plus a 6-minute drive to the town centre the new Mandurah Forum. 
The property features a theatre room with a highlight window, as well as a fully appointed kitchen.
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><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/2019/1/Subscriber%20strip%20ad.jpg" alt=""></a>
The median sale price for a home in <a href="/developments/dudley-park-wa-6210">Dudley Park, West Australia</a> is $369,000, according to CoreLogic, which calculate its annual change in median price over the past 10 years as -0.4%.
</body></html>

Dudley Park, WA mortgagee home listed at $90,000 value reduction

<html><body>
EXPERT OBSERVATION
A very quiet week for data saw the spotlight again fall on central banks, particularly the RBA and ECB.
This week, there were two speakers from the RBA: first Assistant Governor (Financial Markets) Christopher Kent; then Governor Phillip Lowe. The Assistant Governor's speech was focused on the Committed Liquidity Facility, its role within the economy and recent changes the RBA has made. These remarks have no immediate significance for monetary policy and economic momentum. However, during Q&amp;A, Assistant Governor Kent noted that the RBA was unlikely to adopt unconventional monetary policy measures, while making clear the RBA had considered a number of policies implemented elsewhere from the perspective of what would be most effective in Australia.
Arguably the RBA believe they are unlikely to deliver unconventional easing because they regard the outlook as "reasonable", and also believe they still have scope to support the economy through conventional means. This was highlighted in the Governor's subsequent speech. Governor Lowe was constructive on the outlook, noting that the "foundations of the Australian economy remain strong" and that the "two recent reductions in the cash rate will support demand... [as will] recent tax cuts, higher commodity prices, [and] some stabilisation in the housing market. Further, "if demand growth is not sufficient, the Board is prepared to provide additional support by easing monetary policy further", while "other arms of public policy could also play a role".
Westpac continues to see greater risk to the outlook, believing that activity growth and inflation will disappoint the RBA's expectations. Recent data for the labour market and consumer sentiment have supported our economic view, so too the stickiness of the Australian dollar, which has failed to depreciate in response to the June/ July rate cuts.
As a result, as highlighted by Chief Economist Bill Evans, we believe the case for a third cash rate cut to 0.75% will now be made by October (following two more labour market prints and June quarter GDP), and more importantly that there will be a need for a fourth cut to 0.50% come February 2020. In recent days, markets have quickly gravitated towards our view, pricing roughly an extra 7bps in the IB curve, seeing a third cut in October fully priced and a 0.59% expected cash rate at February 2020 – indicating the likelihood of a fourth cut.
To ensure the effectiveness of the cut to 0.50%, we also see the possibility of the RBA adopting a package of other measures to aid pass-through. Chief Economist Bill Evans has outlined an example of this concept, using the experience of the Bank of England. However, we note that any unconventional easing undertaken by the RBA must suit Australian circumstances. It is important to note that we do not believe this possibility for unconventional easing is in conflict with the remarks of Assistant Governor Kent. This is because we see such a course of action only eventuating after a material economic disappointment, and only to guarantee the effectiveness of conventional monetary policy, i.e the rate cut to 0.5%, not to move market rates lower in their own right. It is also important to emphasise that the rate cut we envisage in February is not conditional on an associated package of other policies being adopted.
For their own reasons, Westpac New Zealand economics have also updated their policy view this week, now seeing a second rate cut from the RBNZ to 1.00%, most likely in November. In short, the New Zealand economy has disappointed of late, and there are concerns over business sentiment and its potential impact on investment and employment. This is in addition to global uncertainties and sector-specific weakness in forestry. Importantly, our New Zealand team continue to believe these cuts will prove effective and will see growth strengthen come 2020.
On the broader global backdrop, this week saw the IMF revise down their global growth view for 2019 and 2020 on weakness in emerging and developing markets. The scale of these revisions was immaterial, but they highlight that momentum continues to deteriorate and that risks remain skewed to the downside. The latest Markit PMI data for Europe and the US also confirmed a further loss of momentum in manufacturing. Euro Zone manufacturing momentum is the worst it has been in seven years, and for the US, nearly ten.
The July ECB meeting largely met expectations through indicating the deposit rate is very likely to be cut at their September 12 meeting and that other stimulus measures are on the table. While the July meeting does not involve updated projections, President Draghi noted the outlook is getting "worse and worse". The Governing Council note data continues "to point to somewhat slower growth in the second and third quarters of this year. This mainly reflects the ongoing weakness in international trade in an environment of prolonged global uncertainties, which are particularly affecting the euro area manufacturing sector."
The detail on other potential stimulus measures is not clear cut, but the Council are clearly making preparations in the context of responding to the medium term inflation outlook disappointing. We continue to believe that a cut will be delivered in September, but now expect a broader stimulus package will also soon be introduced. This is in response to the particularly bad run of data over recent weeks, in particular the ECB Bank Lending survey. The new package is likely to include a tiered deposit rate to mitigate the pressure on banks and see asset purchases of sovereign bonds restarted. Our expectation is for the ECB to introduce a €30bn per month program in December lasting for a year, at this stage.
Ahead next week, for Australia we receive the June quarter CPI report. And in the US, there is the all-important July FOMC meeting, which is expected to result in a 25bp rate cut.
ELLIOT CLARKE is a senior economist at Westpac.
SIMON MURRAY is an economist at Westpac 
</body></html>

The RBA is unlikely to adopt unconventional monetary policy measures: CoreLogic's Elliot Clarke

Iwan Sunito's vision for a landmark mixed-use precinct in Sydney's Inner West has taken a major step forward, with approval granted for the $1.9 billion Five Dock development first unveiled earlier this year.

The approved scheme by <a href="https://www.apartments.com.au/developers/one-global-capital">One Global Capital</a> will deliver an 80,500 sqm mixed-use precinct comprising 840 apartments, integrated hotel accommodation, commercial and retail space, alongside publicly accessible open space designed to create a new destination for the growing suburb.

"This is a significant milestone for One Global Capital and for the future of housing delivery in Sydney," Sunito said.

"The Housing Delivery Authority was established to identify major housing projects capable of delivering meaningful supply more efficiently, and we are delighted that Spencer Street has been recognised as one of those projects.”

He said the declaration reflected the rapid progress achieved since acquiring control of the site.

"In less than seven months we have progressed from taking control of the site to securing entry into one of the NSW Government's most important planning pathways. It reflects the experience of our team, the strength of our consultant group led by Urbis, and our long-term commitment to delivering transformational projects that contribute to Sydney's future."

When the project was revealed earlier this year, Sunito described the opportunity as one of the strongest development sites he had worked on.

"I probably hadn't appreciated the uniqueness of the site until more recently when putting together the concept plans," Sunito said.

"The proximity to the water, and the golf course opposite, is unlike any other part of Parramatta Road. We have a unique position and view corridors over the water that makes this one of the best sites I've worked on."

The development has evolved since its initial announcement, with the approved plans increasing the residential component from the originally proposed 750 apartments to 840 homes while retaining the project's focus on creating an integrated neighbourhood rather than a standalone residential development.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/a-city-within-a-city-iwan-sunito-flags-1-5-billion-mixed-use-precinct-in-five-dock">"A city within a city": Iwan Sunito flags $1.5 billion mixed-use precinct in Five Dock</a>

The precinct will combine apartments with hotel accommodation, commercial workplaces, retail offerings and public spaces, creating a mixed-use environment intended to serve both residents and the broader Five Dock community. The proposal also continues the collaboration between One Global Capital and internationally recognised architect <a href="https://www.apartments.com.au/architects/koichi-takada-architects">Koichi Takada</a>, whose previous work with Sunito includes Infinity, Arc and Skye North Sydney.

Takada previously said the design was driven by a philosophy of integrating nature into the built environment.

"The concept for this development is born from our design approach to naturalising architecture," Takada said.

"The public realm benefits from biophilic design that integrates generous landscaping, and the development is optimised for natural daylight, airflow and water views to foster wellbeing, sustainability and spaces that foster community interaction."

Sunito has consistently described the project as a "city within a city", with a strong emphasis on creating a destination that extends beyond housing.

"We want to create a development that's not only to be seen, but to be experienced by the whole local community," he said.

The approval comes as Five Dock continues its transformation ahead of the opening of the Sydney Metro West line, with the new Five Dock station set to significantly improve connections between the Inner West, Parramatta and the Sydney CBD.&nbsp;

The precinct will also benefit from its proximity to the Parramatta Road corridor, nearby waterfront parklands and established retail and dining offerings that have made Five Dock one of Sydney's most tightly held Inner West suburbs.

Joel Robinson

Iwan Sunito secures approval for $1.9 billion Five Dock mixed-use precinct

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]

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]

Staff reporter

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News