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A home in Darwin’s inner northern suburb The Narrows has been listed for mortgagee auction.
The three-bedroom, two-bathroom home, located at <a href="https://www.realestate.com.au/property-house-nt-the+narrows-134416626">26 Bagot Road</a>, was advertised as mortgagee on realestate.com.
Set on 854sqm, the property includes the brick home, in-ground pool, carport and garden shed.
A study currently attached to the master bedroom has the potential to become a walk-in wardrobe.
The home last traded for $225,000 in 2005.
According to CoreLogic data, the median sales price for homes in <a href="/developments/the-narrows-nt-0820">The Narrows</a> is $477,500.
George Vrodos of PropertyShop has the listing.
The auction will take place on Saturday, October 24.
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j.ballantyne1990-6AQqhLzZaK

The Narrows, Darwin home set for mortgagee auction

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EXPERT OBSERVATION
The impact of HomeBuilder is now emerging in the ABS Building Approvals Data and there is a significant divergence between the outlook for detached and multi-unit dwellings.
After a number of years of decline, building approvals in Western Australia increased by 32.9 per cent in the month of August. This is consistent with other leading indicators that show that HomeBuilder and the State Government’s Building Bonus have stimulated demand for new homes,” added Ms Lillicrap.
Western Australia also had a very short pipeline of work and these approvals will lead to the commencement of building work on the ground within weeks. This surge lifts the number of approvals to levels last experienced in 2018.
Queensland also saw a 13.4 per cent increase in detached building approvals, confirming that it is also experiencing a surge in new work entering the building pipeline, also from a low base.
Other regions are yet to see the pickup in activity due to HomeBuilder. This reflects a range of factors including, longer processing times with local councils and delays in the finalisation of building plans between the customer and builder, and a stronger pipeline of existing work.
New Home Sales data also suggests that detached house approvals will continue to grow over coming months and across all jurisdictions.
Multi-unit approvals fell by 12.9 per cent in the month to be 14.1 per cent below this time last year.
The small number of multi-unit projects that are gaining approval at this time are likely to have commenced the planning and building approval process years ago.
The multi-unit market has cooled since 2018, after several years of record levels of construction. Activity in this part of the market is likely to remain depressed until there is greater certainty about the pathway for overseas migration to be restored.
In seasonally adjusted terms, the number of detached dwelling approvals during August 2020 compared to June, increased in Western Australia (+32.9 per cent), Queensland (+13.4 per cent) and New South Wales (+0.2 per cent. They declined slightly in Victoria (-0.8 per cent) and South Australia (-0.9 per cent).
The number of multi-unit approvals increased in Western Australia (+43.9 per cent) and Victoria (+6.5 per cent). They declined in Queensland (-3.3 per cent), South Australia (-23.9 per cent) and New South Wales (-31.9 per cent).
Angela Lillicrap is an HIA Economist
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HomeBuilder's impact clearly seen across detached building approvals: HIA's Angela Lillicrap

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Boarding houses have proven to be one of the most resilient investments during COVID-19 with strong buyer demand leading to around $10 million in sales over the past three months.
Two development sites with approval for boarding houses have recently been sold in deals negotiated by Knight Frank, with a third sale of a boutique site sold for build to rent purposes.
A 975.5sq m property at 10 Naree Road in Frenchs Forest with approval for the demolition of an existing residential property and construction of a boutique 28 self-contained studio apartment ‘new generation’ boarding house was sold prior to auction for above $3 million.
The property was sold by Anthony Pirrottina, Demi Carigliano and Arland Domingo of Knight Frank after strong competition from local developers.
Another property at 88 Liverpool Road in Summer Hill, a 319.4sq m site with approval for a mixed-use development comprising one commercial tenancy and eight residential apartments totalling 465sq m, sold for $1.975 million after 111 bids at auction. The deal was negotiated by Anthony Pirrottina and Demi Carigliano of Knight Frank to a purchaser seeking to develop and retain the property as a mini ‘build to rent’ scheme.
A third DA approved boarding house development was transacted in the mid $3 million range offmarket in Ashfield to a local developer seeking to bolster their exposure to the boarding house and Inner West Sydney rental market.
Mr Pirrottina said that while the property market has been challenging in certain sectors since Coronavirus restrictions began in March, boarding houses continue to remain a strong investment class, with strong buyer interest particularly from a development perspective."
Mr Carigliano said as an investment class, boarding houses were a niche sector but buyer appetite had grown over the past three years in New South Wales, when planning laws were amended to allow for greater development of these assets.
“These assets provide buyers – who are often developers – with passive income and yields in the vicinity of 5% to 6.5% compared to a 3% to 4% yields for blocks of residential units,"  “The best performing assets are located in suburban Sydney markets, close to infrastructure including hospitals, public transport and universities. “Boarding houses can also be sold in one line as they are not strata-titled like units, which means investors can trade out of the asset faster if desired.”
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Boarding houses prove to be COVID-safe investment

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Ray White Commercial Oakleigh has successfully sold three properties site-unseen across three separate transactions. Two units in Seaford’s Curie Court, one at 7/13-15 and one at 8/13-15 (above), and 167 Buckley Street (below) in Noble Park were marketed and sold for undisclosed prices by Ray White Commercial Oakleigh Sales and Leasing Consultant George Kelepouris. “These hat-trick of sales are testament to the fact that, with the right processes and the right property, buyers will stop at nothing to snap up their desired asset,” Mr Kelepouris said. “The two units at Curie Court were purchased by owner-occupiers and offered architecturally designed warehouses in Seaford’s newest premier estate and benefited from being minutes away from major arterials and had excellent access to major freeways."
<img src="https://f.datasrvr.com/f1/420/57491/167_Buckley_Street,_Noble_Park,_VIC.jpg" width="640" data-imagetype="External">
Curie Court is a new project located within the Seaford Industrial Precinct. The property at Buckley Street was sold to a local investor on behalf of a local owner and offered a parcel of 220 sqm of land and a vacant 50 sqm of retail area. The building with a ground floor retail/office space was offered for sale via private sale. The property attracted three offers and was sold to the highest offer.
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Ray White Commercial Oakleigh scores a lockdown hat-trick

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GUEST OBSERVER 
 
Ahead of the budget, the government has announced new rules that will allow small businesses at risk of collapse to continue to work out their problems instead of appointing an administrator.
They are needed because of an avalanche of insolvencies awaiting the end of an effective moratorium on bankruptcies (a so-called “regulatory shield”) that expires at the <a href="https://ministers.treasury.gov.au/ministers/josh-frydenberg-2018/media-releases/extension-temporary-relief-financially-distressed" target="_blank">end of December</a>.
Since it was introduced in March the number of companies entering external administration has been unusually low compared to earlier years (at a time of unusually bad conditions) suggesting a buildup of zombie companies waiting to die.
<hr>
Number of companies entering external administration
<a href="https://images.theconversation.com/files/360148/original/file-20200927-18-82272w.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/360148/original/file-20200927-18-82272w.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a> Twelve months to each week (red) versus previous twelve months. <a class="source" href="https://asic.gov.au/regulatory-resources/find-a-document/statistics/insolvency-statistics/insolvency-statistics-series-1b-notification-of-companies-entering-external-administration-weekly-update/">ASIC</a>
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The new rules will allow insolvent small businesses with liabilities of less than A$1 million to keep trading under the eye of a <a href="https://ministers.treasury.gov.au/sites/ministers.treasury.gov.au/files/2020-09/Insolvency-Reforms-fact-sheet.pdf">small business restructuring practitioner</a> for 20 days while they develop a restructuring plan to put to creditors rather than surrender control to an external administrator.
If half the creditors by value endorse the plan it will be approved and the business can continue under its present ownership with assistance from the restructuring practitioner. If not, it can be put out of its life quickly under a proposed simplified liquidation process.
Existing laws give directors little leeway
Under the current insolvent trading law, directors are expected to immediately stop the trading when they know or have reasonable grounds to suspect the company is insolvent. Directors who “give it a go” and try to trade their way out of financial difficulty face severe legal consequences: personal liability, a fine of up to <a href="https://www.asic.gov.au/about-asic/asic-investigations-and-enforcement/fines-and-penalties/">$1.11 million per offence</a> or a prison sentence of up to 15 years in extreme cases.
The only way to avoid these penalties is to quickly place the company in the hands of the administrator who temporarily manages the business until the company’s creditors make a decision on the company’s fate.
Its a regime not particularly suited to small businesses.
The proposed new rules can be seen as a tacit admission of the failure to the “<a href="https://www.bdo.com.au/en-au/accounting-news/accounting-news-may-2018/safe-harbour-insolvency-reforms">safe harbour</a>” law reform of 2017. Applicable to all companies irrespective of size, it protects directors from personal liability for debts incurred by an insolvent company if they took a course of action “reasonably likely to lead to a better outcome” for the company and its creditors than administration or liquidation.
Anecdotal evidence suggests it is largely shunned by small businesses in part because of its uncapped cost. The fees of small business restructuring practitioners will be capped.
The new laws will create breathing space
The new rules are based on <a href="https://www.investopedia.com/terms/c/chapter11.asp">Chapter 11</a> of the United States Bankruptcy Code, with important differences.
The US law applies to all Companies, not just to those with debts of less than $1 million. And it gives the court an oversight role.
The absence of judicial supervision in what’s proposed for Australia is a double-edged sword. Court involvement generally means delays and high costs.
On the other hand, it provides a valuable check against abuses – such as the deliberate liquidation and rebirth of “<a href="https://www.dissolve.com.au/information-centre/what-is-a-phoenix-company/">phoenix companies</a>” in order to avoid paying debts.
In Australia, that’ll be the role of the small business restructuring practitioner.
It’s not yet clear how they’ll work
It won’t be a panacea for small businesses. They will be required to lodge any outstanding tax returns and pay any employee entitlements before a plan can be put to creditors.
In the current circumstances many small businsses will not be able to comply.
There’s much we don’t yet know about what’s proposed. The government’s briefing says time and cost savings will be achieved through “<a href="https://ministers.treasury.gov.au/sites/ministers.treasury.gov.au/files/2020-09/Insolvency-Reforms-fact-sheet.pdf">reduced investigative requirements</a>”. It is unclear to what the extent the liquidator’s wide investigative powers into reasons for business failures will be curtailed.
The changes are likely to have profound implications for many stakeholders, including creditors, employees and the general community.
It is important that the government consults properly before the new rules are put to parliament in time for their introduction on January 1.<img src="https://counter.theconversation.com/content/146833/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
<a href="https://theconversation.com/profiles/anil-hargovan-2086">Anil Hargovan</a>, Associate Professor, <a href="https://theconversation.com/institutions/unsw-1414">UNSW</a>
This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/were-facing-an-insolvency-tsunami-with-luck-these-changes-will-avert-the-worst-of-it-146833">original article</a>.
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Australia is facing an insolvency tsunami

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GUEST OBSERVER
What used to be known as a requirement to lend responsibly is now regarded as red tape.
The National Consumer Credit Protection Act introduced by the Rudd government after the global financial crisis introduced responsible lending obligations that required lenders to ensure the loans they were offering were “<a href="https://www.asic.gov.au/regulatory-resources/credit/responsible-lending/" target="_blank">not unsuitable</a>” for borrowers.
No longer. If passed into law, changes announced by treasurer Josh Frydenberg last week in the leadup to the budget will remove the obligation for most lenders, allowing them to rely instead on the <a href="https://ministers.treasury.gov.au/sites/ministers.treasury.gov.au/files/2020-09/Consumer-credit-reforms-fact-sheet.pdf" target="_blank">information presented to them by borrowers</a>.
In the treasurer’s words, it will replace the current principle of “lender beware” with “<a href="https://ministers.treasury.gov.au/ministers/josh-frydenberg-2018/media-releases/simplifying-access-credit-consumers-and-small" target="_blank">borrower responsibility</a>”.
He says it will make it easier for consumers to borrow, which would have been a disquieting prospect during the borrowing and house price boom that peaked three years ago <a href="https://www.abs.gov.au/statistics/economy/finance/lending-indicators/latest-release">under the old rules</a> and was only slowed by intervention from the <a href="https://www.apra.gov.au/news-and-publications/apra-announces-further-measures-to-reinforce-sound-residential-mortgage" target="_blank">Australian Prudential Regulation Authority</a> (APRA).
Safeguards offered…
Frydenberg says there will be safeguards. Lenders will have to comply with APRA lending standards. The special restrictions on “small amount credit contracts” (a discrete category that covers payday loans) will remain in place. Debt management firms will be required to hold licences.
But the provisions will not require lenders to assess the crucial question of whether a particular product is suitable for an individual borrower.
For the first time in a decade, that will be up to the borrower.
Lenders might decide to do that, but they won’t have to. What the treasurer calls “borrower responsibility” will become “buyer beware”.
Lenders will be obliged to be members of the Australian Financial Complaints Authority and have to act efficiently, honestly and fairly.
And members of the Banking Association will be subject to a code of practice that requires them to exercise the care and skill of a diligent and prudent banker.
But the duty of a banker is to the bank. That means a banker’s job is to ensure that a loan can be recovered, perhaps by selling property, rather than that the borrower can afford to make the payments.
…but bankers work for banks
When the financial crisis struck, equity was stripped from family homes by lenders looking after themselves. The new proposed changes would allow it to happen again.
The government says lenders have had to devote substantial resources to checking incorrect and misleading information provided by borrowers.
But much of it would have come from mortgage brokers acting on behalf of borrowers but being paid as if they were lenders, receiving a commission related to the size of the loan.
And brokers work for banks
The Royal Commission recommended that brokers be subject to a new “best interest” requirement, which is due to come in in January, untested, just before the responsible lending requirement is withdrawn in April.
Commissioner Kenneth Hayne also recommended banning brokers’ commissions and having them accept payment instead in the form of an upfront fee paid by the borrower not the lender. The government at first accepted and then rejected the recommendation.
Even where they are not encouraged to over-borrow, consumers are often making decisions under stress or blinded by optimism bias.
Even where entirely honest they can be unable to make reliable predictions about the level of credit they can bear.
If the responsible lending rules we have are considered too prescriptive, complex and onerous as the treasurer says, a reasonable approach would be to make them simpler and principles-based rather than prescriptive as recommended by Commissioner Hayne.
The Australian Law Reform Commission has just commenced an inquiry into <a href="https://www.alrc.gov.au/inquiry/review-of-the-legislative-framework-for-corporations-and-financial-services-regulation/">how to simplify Australia’s complex financial services regime</a>.
The government might have asked it for a heads up or kept the responsible lending obligations in place until it saw what it had to say.<img src="https://counter.theconversation.com/content/146916/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
<a href="https://theconversation.com/profiles/jeannie-marie-paterson-6367">Jeannie Marie Paterson</a>, Professor of Law, <a href="https://theconversation.com/institutions/university-of-melbourne-722">University of Melbourne</a>; <a href="https://theconversation.com/profiles/elise-bant-467235">Elise Bant</a>, Professor of Law, <a href="https://theconversation.com/institutions/university-of-western-australia-1067">University of Western Australia</a>, and <a href="https://theconversation.com/profiles/nicola-howell-1160247">Nicola Howell</a>, Senior lecturer, <a href="https://theconversation.com/institutions/queensland-university-of-technology-847">Queensland University of Technology</a>
This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/its-about-to-become-easier-to-lend-irresponsibly-to-help-the-recovery-146916">original article</a>.
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It will become easier to lend irresponsibly, to help the recovery

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A sought-after main road medical facility in Seaford, Victoria has just been sold for $2.3 million. 
The property at 270 Seaford Road, Seaford was sold by Daniel Philp and John Nockles from CVA property consultants within two weeks.
Receiving multiple enquiries from owner occupiers, investors and developers the property was ultimately sold to a medical operator who will utilise the existing improvements for their medical practice.
It comprising a single level building of 400sqm and positioned on a land holding of 2,082sqm.
The current improvements feature 9 consultation and 2 treatment rooms, dual access for patients and staff, numerous amenities and waiting rooms plus 31 car spaces.
The property is highly visible and accessible with a 46 metre frontage. 
It is situated within close proximity to major roadways including Mornington Peninsula Freeway, Frankston freeway and Nepean Highway.
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Seaford medical facility sold for $2.3 million

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National Australia Bank has made cuts of -0.10 per cent to savings rates on Tuesday, becoming the seventh provider to cut savings rates over the last week.
Other providers who cut their savings rates include BOQ and ING, Canstar data reveals.
<img src="https://www.urban.com.au/images/2020/9/29/Screen%20Shot%202020-09-29%20at%2010.11.22%20am.png" alt="">
The bank also cut a number of term deposit rates by between -0.05 per cent and -0.15 per cent.
Canstar’s group executive Steve Mickenbecker noted that prices are down when it comes to saving rates.
“With the Reserve Bank supplementing bank fund raising with 0.25 per cent loans, banks are under less pressure to raise funds from savers”, he said.
“We have seen savings interest rates continue to slide through the pandemic.”
Canstar notes that savers have to actively manage their money or make do with modest remuneration.
“Savers have to micromanage their money by qualifying for bonus rates or switching savings accounts every few months to earn introductory rates, or settle for rates around 0.05 per cent.” Mickenbecker said.
He noted that these rates are likely an unanticipated consequence of the measure to fund businesses through the crisis.
The top saving rates from the major banks still sits with Westpac Life account.
<img src="https://www.urban.com.au/images/2020/9/29/Screen%20Shot%202020-09-29%20at%2010.24.45%20am.png" alt="">
Young adults, aged between 18 and 29, can earn an interest rate of up to 3 per cent. 
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Savings rates cut by NAB along with six other providers

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A mortgagee unit in Bruce, ACT is now under offer.
Set on a 136sqm block, the property offers three bedrooms and two bathrooms.
The home is listed with a price tag of $650,000, well above the median value price for units in Bruce at $442,203, according to CoreLogic.
Situated at 30/101 Kinloch Circuit, the home offers two courtyards, private alfresco area, dark panel flooring and a walk-in pantry.
<img src="https://www.urban.com.au/images/Screen%20Shot%202020-09-09%20at%202.27.14%20pm.png" alt="">
The two-storey unit is only one kilometre to the University of Canberra and an eight minute drive to Westfield Belconnen.
The home is listed through the real estate agency buyMyplace.
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Two storey Bruce, ACT mortgagee unit under offer

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ME has launched one of its best-ever home loan offers, designed exclusively for First Home Buyers.
The offer gives eligible First Home Buyers access to a 25% discount on LMI, variable rates as low as 2.58% p.a., and no annual fee.
“This offer will help address housing affordability and gives first home buyers a leg up at the perfect time,” ME General Manager, Home Lending Andrew Bartolo said.
“With COVID-19 impacting house prices and many government grants and incentives available, now could be an ideal time for First Home Buyers to finally get into the market.”
<img src="https://www.urban.com.au/images/2020/9/28/ME%20FHBs%20discount.JPG" alt="">
The offer is available to First Home Buyers for the purposes of buying or constructing their first residential dwelling solely for owner occupation. Applicants don’t have to qualify for the Australian Government’s First Homeowner Grant scheme, and they can own or have previously owned a residential investment property.
Customers need at least a 5% deposit (95% LVR) to qualify for both the LMI and variable rate discount. Customers with larger deposits (lower LVR) can access better rates.
The offer is valid for applications submitted from Monday 28 September 2020 to Friday 20 November 2020, that settle by 26 February 2021.
ME’s offer is being advertised nationally.
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ME Bank offer discount to first home buyers

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

Joel Robinson

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

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

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

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

First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Fitzroy apartments

The Gold Coast Planning Committee has supported the preliminary approval for the Benowa Gardens Urban Village project following an extensive community consultation and assessment process.

The proposal will now proceed to a full council vote on June 2.

The application sought approval for a masterplanned urban village on the existing Benowa Gardens Shopping Centre site, combining new housing, retail, dining, health and lifestyle amenities within a walkable, integrated precinct.&nbsp;

The proposed redevelopment includes around 413 apartments integrated above a revitalised mixed-use centre featuring a full-line supermarket of 4,000 sqm, 6,000 sqm of specialty retail and dining space across around 30 retailers, a 7,000 sqm health and wellness precinct, and roughly 9,630 sqm of office and medical suites.&nbsp;

<img alt="$1b Benowa Gardens Urban Village moves to Full Council following Planning Committee support" data-entity-type="file" data-entity-uuid="fb36ae47-80bc-45f0-9914-31b0c7b6007d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/PR26576%20Ashmore%20Road%20C4%201121%20FI.jpg?VersionId=6mRKk2uU4r67TmTt39DKGUlvFRbTVqWa" />

The broader masterplan also includes very significant traffic and transport improvements, wide pedestrian walkways, upgraded pedestrian and cycle connections, and enhanced public areas designed to create a more connected and walkable community environment.&nbsp;

Centre owner Patrick Lu said the milestone reflected months of detailed planning, technical assessment and ongoing communication with local residents, businesses, schools and stakeholders.

“We appreciate the time, consideration and care Council officers and the Planning Committee have given this proposal throughout the assessment process,” Lu said.

“We also sincerely thank the local community for engaging with us, sharing feedback and participating in the consultation process over many months.

<img alt="$1b Benowa Gardens Urban Village moves to Full Council following Planning Committee support" data-entity-type="file" data-entity-uuid="32fd1fc3-d0e6-485f-ac57-9916c9bcb818" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/PR26576%20Ashmore%20Road%20C5%201121%20FI_2.jpg?VersionId=fz8qQKDBLQ7MyFRc856Zccfbh9nFwLOe" />

“We understand projects of this scale bring questions and concerns, which is why we have worked hard to listen carefully, provide information transparently and continue refining elements of the proposal where possible.

“Our vision has always been to create a well-designed, community-focused urban village that responds to the changing needs of the Gold Coast, while delivering improved amenity, housing diversity, healthcare access and local lifestyle benefits.

“This proposal is about creating a genuine live-work-play environment where residents can access everyday services, schools, healthcare, dining, shopping and green space within walking distance, while also supporting local jobs and economic activity.”

<img alt="$1b Benowa Gardens Urban Village moves to Full Council following Planning Committee support" data-entity-type="file" data-entity-uuid="50dfbd04-590e-4fc6-983b-766880947867" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Dining%20Day%20Time%20-%20High%20Resolution.jpg?VersionId=BP7ZoKJ0DdL_8iRkkC8VVx99moICV6kg" />

Lu said the proposal had evolved significantly through consultation and technical review, particularly around traffic, pedestrian and student safety and neighbourhood connectivity.&nbsp;

Melissa Griffin, Director at Urbis, said the recommendation recognised the strategic importance of delivering more housing and services within established urban areas already supported by infrastructure.

“This proposal represents the type of thoughtful, integrated growth that planning frameworks across South-East Queensland are encouraging,” Ms Griffin said.

“The project seeks to place housing, retail, healthcare and employment opportunities together in a highly accessible location close to schools, transport and existing services.

“Importantly, the process has involved significant technical assessment and community engagement to ensure local issues and feedback were properly considered throughout the planning pathway.”

$1 billion Benowa Gardens Urban Village heads to council vote following Planning Committee support

Surfers Paradise is officially set for its first new residential development with a 45-storey skybridge connecting the two towers.

John Camilleri’s Celestino Developments has been given the green light by the Gold Coast City Council to develop its major beachfront precinct across its huge 4,000 sqm oceanfront site at <a href="https://www.apartments.com.au/new-apartments/63-79-garfield-terrace-surfers-paradise-qld-4217">63–79 Garfield Terrace</a>, just five months after its <a href="https://www.apartments.com.au/news/qld/first-look-exclusive-billionaire-winx-breeder-s-bold-two-tower-surfers-paradise-play-with-45th-storey-skybridge">submission in late 2025</a>.

The approved scheme will deliver two towers rising 55 and 48 storeys, connected by a skybridge positioned on level 45 that will house a range of resident-only wellness and entertainment spaces.

In its notice of approval, the Gold Coast City Council said the&nbsp;proposed overall built form has been designed to complement the scale, intensity and protect the adjacent amenity and surrounding streets through the use of varied setbacks, site cover and architectural elements.

<img alt="First look exclusive: Billionaire Winx breeder’s bold two-tower Surfers Paradise play with 45th-storey skybridge" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-30%20at%209.53.48%E2%80%AFAM.png?VersionId=ADyPJ_TFbJvSU9wZFOiCBnlPtgF7VWqW" />

Designed by <a href="https://www.apartments.com.au/architects/dbi">DBI</a>, the development will comprise 275 apartments across the two towers, including a mix of two-, three-, and four-bedroom residences, as well as several penthouses. The apartments will sit above a landscaped podium featuring more than 90 metres of beachfront pool frontage, private resident lawns, lounges, and wellness spaces.

DBI said the design draws heavily from the movement and form of the coastal environment, with curving balcony lines and sculpted façades intended to soften the scale of the towers while maximising ocean outlooks and passive shading outcomes.

“The project occupies a rare, uninterrupted oceanfront site and has been shaped by a design philosophy that merges architectural elegance with environmental responsiveness and a carefully curated lifestyle experience,” DBI said in planning documents submitted to the Gold Coast City Council.

The most distinctive element of the approved project is the skybridge linking the two towers at level 45. The elevated communal space is planned to include executive lounges, formal dining areas, wellness facilities, and panoramic ocean-facing outlooks.

“The skybridge enhances the identity of the development, promotes social interaction, and delivers a lifestyle experience not found elsewhere on the Gold Coast,” DBI said.

At podium level, residents will have access to a suite of resort-style amenities, including resident lounges, private dining rooms, a yoga lawn, gymnasium, plunge pools, and treatment spaces. The beachfront pool has been designed with separate lap, lounge, and children’s areas extending across the width of the site.

The project will also introduce new food and beverage offerings along the Enderley Avenue and Oceanway frontages, contributing additional activation to the beachfront precinct.

Staff reporter

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