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Former Adelaide financial adviser, Robert Pryor Smith, has appeared in the Adelaide Magistrates’ Court after being charged with 27 dishonesty offences.
ASIC alleges that between 14 October 2010 and 12 July 2016, Mr Smith stole approximately $179,600 from a deceased estate of which he was executor, by transferring the money from the estate account to one of his own accounts. The property was jointly owned by the beneficiaries of the estate, who were charitable organisations.
The offences were allegedly committed when Mr Smith was a financial adviser of Futuro Financial Services Pty Ltd (Futuro) and director of Advice 4 Wealth Pty Ltd (A4W), and when Mr Smith and Futuro were authorised representatives of A4W.
Mr Smith appeared in the Adelaide Magistrates Court on 7 June 2019. Mr Smith was placed on bail and was remanded to appear in the committal court on 23 July 2019.
Mr Smith faces a maximum penalty of 10 years imprisonment for each offence committed prior to May 2012, or 15 years imprisonment for each offence committed after that time.
The Commonwealth Director of Public Prosecutions is prosecuting the matter following referral of a brief from ASIC.
<h2>Background</h2>
On 8 January 2018, ASIC took administrative action against Mr Smith, permanently banning him from providing financial services, on the basis that he was not of good fame or character.
Smith, of West Lakes, South Australia from providing financial services on the basis that he is not of good fame or character.
Mr Smith was an authorised representative for Futuro Financial Services Pty Ltd (Futuro) from 10 October 2008 to 12 September 2017. Mr Smith is also the sole director of Advice 4 Wealth Pty Ltd (Advice 4 Wealth) which has been an authorised representative for Futuro since 29 September 2008.
An ASIC investigation found that between 29 December 2008 and 12 July 2016, Mr Smith electronically transferred a total of $278,042.58 from the bank account of a deceased estate for which Mr Smith was the Trustee and Executor to bank accounts held in Mr Smith's name, or in the name of Advice 4 Wealth.
ASIC found that Mr Smith's conduct was designed to benefit his own interest and financial needs at the expense of the Estate and the beneficiaries. ASIC also found that Mr Smith's conduct was dishonest and that he made false statements about what happened to the Estate funds.
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j.ballantyne1990-6AQqhLzZaK

Alleged deceased estate theft triggers Adelaide court appearance for Adelaide financial adviser

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A Wangi Wangi, NSW mortgagee home has finally sold after 300 days on the market and two unsuccessful auctions.
The thee bedroom, one bathroom house, originally listed for $499,000, saw six price reductions over the course of the listing down to $369,000.
Bruce Avery of Avery Property Professionals held the listing.
Situated at <a href="https://www.realestate.com.au/sold/property-house-nsw-wangi+wangi-129777710" target="_blank">31 Nunda Road</a>, the property is set on 519 sqm.
The 1980 built house features an in-ground swimming pool, outdoor entertaining deck and a single car garage.
Despite the numerous price reductions on the listing and unsuccessful auctions the property sold for $355,500.
The sale marks a $100,500 price increase on it 2003 sale price of $255,000.
<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 price for a home in <a href="/developments/wangi-wangi-nsw-2267">Wangi Wangi</a> is $655,000, according to CoreLogic, which calculate its annual change in median price over the past 10 years as 7.4%.
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Wangi Wangi, NSW mortgagee home sold after two unsuccessful auctions

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ME Bank has announced they will be passing on the full RBA rate cut to variable home loan customers.
The announcement comes three days after the <a href="/expert-insights/finance/rba-cut-official-cash-rate-to-a-historic-low-1-25-at-june-2019-meeting">RBA rate decision</a> and comes into effect on 27th June 2019.
On the day of the RBA rate decision all of the Big Four banks as well as a number of smaller lenders announced cuts of varying size.
Both <a href="/expert-insights/finance/nab-joins-cba-in-full-0-25-rate-cut-to-historic-lows">NAB</a> and <a href="/news/cba-announce-full-rate-cut-after-june-rba-meeting">CBA</a> announced they will be passing on the full rate cut. But <a href="/expert-insights/finance/anz-first-to-pass-on-part-of-june-2019-rba-rate-cut">ANZ is only passing on a cut 0.18 basis points</a>, something Treasurer Josh Frydenberg especially disapproved of stating, “I think the ANZ has let down its customers."
<a href="/expert-insights/finance/westpac-to-cut-by-0-2-but-more-for-io-borrowers">Westpac was the last of the big four</a> to announce they were cutting rates, following the RBA's decision they announced their rate cuts late on Tuesday of 0.20 basis points.
ING, the nation’s fifth largest home loan lender chose to pass the full 0.25 per cent cut on to their variable rate customers, effective 25 June 2019.
Popular banks that have yet to announce their intentions include HSBC and AMP.
 
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ME Bank to pass on full RBA rate cut

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LJ Hooker Avnu is set to expand into Sydney’s northern districts with the appointment of Ben Mulae and his team of two associates.
His previous agency was First National which had "archaic" systems for marketing, compliance and client reporting, he suggested.
“I’m excited to have joined Avnu, with its cutting-edge platform that now streamlines and automates much of this so that I can really nurture my client relationships and execute on our sales strategies.”
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<div id="div-gpt-ad-1500605648928-0" data-google-query-id="CP6h7MLg1OICFZGjaAodTZ4Fmw">
<div id="google_ads_iframe_/50807330/REB_PremiumNewsTile_800x250_0__container__">The Hunters Hill=based Mulae joined LJ Hooker Avnu with his associate agents Angie Wong and Martika Whitfield.</div>
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He said they have been a team for more than four years.
While they will lead the expansion into the Northern Districts, they advise they will be continuing to service clients in Putney, Gladesville, Ryde, Tennyson Point and surrounding suburbs.
Benjamin has been consistently ranked in the top two percent of First National Real Estate Agents across NSW. 
First National is the largest independent real estate network in Australia.
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LJ Hooker Avnu expand further into Sydney’s northern districts

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A Prahran townhouse designed by Travis Walton Architecture is set to go under the hammer on June 15.
It has been offered by Nicole Gleeson and Nicky Rowe with $2.1 million to $2.31 million hopes. 
Designed for a low-maintenance lifestyle, the north-facing townhouse at 1/12 Chatsworth Road has an open plan living and dining zone, kitchen with dolomite benchtops and breakfast bar, and landscaped garden with dining deck. 
<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/2019/6/5/prahran%202.jpg" alt="">
The upstairs comes with main bedroom with a dressing room and covered balcony, two other light-filled fitted bedrooms and main bathroom.
<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/2019/6/5/prahran%204.jpg" alt="">
Additional highlights include ground-floor powder room, European Oak Chevron flooring, track lighting, concrete media unit, and air conditioning plus heating.
Positioned between Hawksburn and Prahran East Villages, it is within a few minutes’ walk to cafes and shops, trams, train stations and other Prahran, Armadale and Hawksburn amenities.
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Travis Walton-designed Prahran trophy home set for auction

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The Geelong region saw 5,595 dwellings sold across the 12 months to February 2019, according to the latest CoreLogic Regional Report. 
Sales across both houses (-14%) and units (-38%) have fallen over the year, although units only accounted for 12% of transactions over that period.
<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/2019/6/5/geelong%201.jpg" alt="">
<a href="https://www.propertyobserver.com.au/images/2019/6/5/geelong%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/2019/6/5/geelong%202.jpg" alt="">
Source: CoreLogic
The report notes Geelong home values increased year-on-year, with house values rising by 0.4% and unit values up 5.4% over the same period.
<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/2019/6/5/cairns%203.jpg" alt="">
Click here 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/2019/6/5/geelong%204.jpg" alt="">
Source: CoreLogic 
Homes across the region are selling faster. The average time on market for houses fell by three days over the year to February, while units are selling 19 days faster over the same period.
Vendor discounting levels remain unchanged for units, while increasing slightly for houses.
<a href="https://www.propertyobserver.com.au/images/2019/6/5/cairns%205.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/2019/6/5/cairns%205.jpg" alt="">
Source: CoreLogic
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Geelong house and unit sales activity in decline: CoreLogic

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A group of strata unit owners have joined forces to sell their assets in one line to a Chinese developer for $14.1 million. 
The eight units on the 2,061 square metre landholding at 12-16 Shipley Street in Box Hill have been acquired by a number of families since 1985. 
Savills Australia’s Dorothy He, Benson Zhou and Julian Heatherich brokered the deal.
It was at a rate of $6,841 per square metre.
He said it was rare to be able to market a series of assets in one line. 
“To the vendors, the family memories carry enormous emotional weight, leading them to eventually decide to sell together,” she said. 
“They were able to achieve a greater sale price by selling their units together than they would have if they took them to market individually.”  
He said the purchaser recognised the versatility of the site, which currently provides a flexible income stream as a land-bank prospect and is also one of the final major development opportunities in Box Hill. 
“The buyer, a locally based Chinese developer, realised the upside of a landholding in the Box Hill Activity Centre,” she said. 
“This is a proven development location, with several successful projects either complete or under construction in the immediate area.
“With an adjacent 20-level project under construction, substantial height can be achieved through development (STCA) and there is enormous potential for views of the Box Hill Gardens and Melbourne CBD.”
Savills has previously tipped Box Hill to become Melbourne’s second high-rise CBD, with the City of Whitehorse population forecast to grow to about 22,850 people by 2036. 
“Box Hill is a thriving hub in Melbourne’s east, currently home to more than 12,500 residents,” Zhou said. 
“The suburb is projected to need more than 5,000 new dwellings in the next decade and beyond, in order to accommodate the rising population, which has been a direct result of significant public and private investment into health, education, retail and commercial initiatives in recent years.”
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Eight strata unit vendors band together to sell half-acre Box Hill holding

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EXPERT OBSERVATION
The Customer Owned Banking Association (COBA) has strongly criticised a Treasury proposal to hike levies on smaller banks while cutting levies for the four major banks.
Treasury is proposing dramatic increases in levies on customer owned banks and smaller listed banks while gifting the big four a $3 million levy reduction (see Treasury table below).
The levies are intended to cover higher regulatory costs for the banking regulator APRA flowing from the Financial Services Royal Commission.
Smaller banks’ levies are sharply ratcheted upwards by more than 25% while major bank levies are reduced.
This makes no sense at all given it was the misconduct of the major banks that has prompted the need to increase resourcing for APRA.
Customer owned banking institutions have not engaged in the misconduct examined by the Royal Commission but now face being forced to ‘pay the price’.
These proposals send a very confusing signal about the Government’s intention to hold the major banks accountable for their conduct.
Major banks already have a head start on their smaller competitors through various aspects of the regulatory framework.
They don’t deserve the extra help of a cut in their APRA levies while their much smaller competitors are hit with huge increases.
Click <a href="https://www.propertyobserver.com.au/images/2019/6/6/ADI%20Levies.JPG" target="_blank">here</a> to enlarge
<img src="https://www.urban.com.au/images/2019/6/6/ADI%20Levies.JPG" alt="">
I urge the Treasurer to intervene and rule out these grossly unfair increases in APRA levies on COBA member banking institutions.
Regulator industry levies should be set with sensitivity to the cost burden on smaller banking institutions and with more weighting given to the systemic importance and market power of major banks.
The Productivity Commission describes the banking market as ‘an established oligopoly where the four major banks hold substantial market power and this is substantially supported by regulatory settings which contribute to the major banks’ structural advantages.
Sharply increasing levies paid by smaller banking institutions while reducing levies paid by major banks will make a bad situation worse.
MICHAEL LAWRENCE is the CEO of the Customer Owned Banking Association. 
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Unfair tax hike proposed for smaller banks: COBA's Michael Lawrence

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GUEST OBSERVATION
In 2019, <a href="https://www.communitycouncil.com.au/content/australia-we-want-media-release-7-may-2019" target="_blank">The Australia We Want</a> report noted that at least half of Australian women do not feel safe walking alone at night. This is unsurprising given the <a href="https://www.plan.org.au/freetobe" target="_blank">prevalence of sexual harassment</a> and gender violence women manage when moving through cities every day. Women’s avoidance of areas of the city creates a <a href="https://theconversation.com/no-harm-done-sexual-entertainment-districts-make-the-city-a-more-threatening-place-for-women-81091" target="_blank">complex internal geography of exclusion zones</a> and “take extreme care” zones – all in the hope that this vigilance will keep them out of harm’s way.
Protecting women from the violence committed by some men is a priority. So too is recognising that most <a href="https://theconversation.com/gender-makes-a-world-of-difference-for-safety-on-public-transport-80313" target="_blank">cities are gender-blind and disregard women’s needs and experiences</a>.
We need to understand the patterns that exclude women from areas of cities and not defer to the usual responses – brighter lighting, more CCTV cameras and more authority figures. In fact, <a href="http://planfreetobe.org/">our research</a> into unsafe “hotspots” has found young women’s perceptions of urban safety do not correlate with the most brightly lit spaces.
We know that creating safer cities for women requires one fundamental shift: that we <a href="https://theconversation.com/to-design-safer-parks-for-women-city-planners-must-listen-to-their-stories-98317" target="_blank">listen to women’s voices</a>. We need to develop urban strategies and planning policies that draw on women’s experience and expertise as users of city spaces.
What does the research tell us?
<a href="https://www.plan.org.au/" target="_blank">Plan International</a>, the <a href="https://www.monash.edu/mada/research/labs/xyx-lab-monash-space-gender-communication-lab" target="_blank">Monash University XYX Lab</a> and <a href="https://www.arup.com/" target="_blank">ARUP</a> lighting researchers have pooled their expertise to drill down into the stories of young women and analyse the relationship between urban lighting and women’s perceptions of safety.
<a href="https://research.arup.io/story/cities-for-girls">The research </a>struck on some compelling correlations between light levels and unsafe places. Analysing over 80 of the most unsafe “hotspots” identified by women in Melbourne, the research found that high illuminance – or very bright and overlit spaces – does not correlate with young women’s perceptions of urban safety.
This is important information as planners often light spaces to a high <a href="https://www.standards.org.au/standards-catalogue/sa-snz/electrotechnology/lg-002/as-slash-nzs--1158-dot-4-colon-2015" target="_blank">“P” Category</a> (a measure used in urban place-making guidelines) of lighting. It’s assumed this will reduce the risk of crime and increase the feeling of safety.
But our research shows that designing lighting that is positive for women’s urban experience requires more nuance. The findings show that sites with higher light levels are more likely to be perceived as unsafe sites – the average light level across these sites was twice what was measured across safe sites. This is a finding with the potential to radically change a city’s approach to lighting for safety.
The analysis showed that consistent and layered lighting – where there are multiple light sources and where surfaces with different reflective values are taken into consideration – makes women feel most safe. This kind of lighting reduces the “floodlit effect”, the sharp drop-off of light beyond the path, and the potential for glare and contrast to blind and disorientate.
The emphasis on LED lights for their energy efficiency is unquestioned. But in urban lighting they are mostly a higher colour temperature such as 4000K “cool white” and above. This new research challenges the effects of this approach.
Instead of yellowish sodium lighting, women prefer a high-quality LED light that enables them to distinguish shapes and colours. 
ARUP’s research shows the human visual spectrum reacts better to warm light, and the data from young women showed how sensitive they are to cool white light with regard to feeling safe in cities. Spaces with warmer colour temperatures are perceived as safer places.
Looking deeper into the quality of light in our cities, the majority of bad areas had a very large range of colour rendering. The lowest colour rendering came from sodium luminaires that make everything look overly yellow. Women preferred a high-quality LED light that enabled them to distinguish shapes and colour, helping to create a sense of safety.
What does this mean for urban design?
More broadly, the research challenged the assumptions that urban lighting design relies on in general, and the effect it has on the character of our cities at night.
At present, illuminance (the measure of light falling on a surface, or Lux) is the only unit of measurement required to comply with the P Categories of the Australian Standards. Based on the results, it appears other metrics such as luminance (light bouncing off a surface and hitting the observer’s eye) should be considered too. This will ensure the context of material finishes and surface intensity is taken into account for how the eye perceives space.
Through research such as this, we have the knowledge, data and technology to engage women in trialling new ways of co-designing better outcomes for cities after dark. We can use considered urban design as a tool for positive change.
Nicole Kalms, Director of XYX Lab + Associate Professor in the Faculty of Art, Design and Architecture at Monash University, Monash University
This article was co-authored by ARUP VIC/SA lighting leader Tim Hunt. The site analysis was led by ARUP lighting designer Hoa Yang.<img src="https://counter.theconversation.com/content/113359/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">
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/more-lighting-alone-does-not-create-safer-cities-look-at-what-research-with-young-women-tells-us-113359" target="_blank">original article</a>.
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More lighting alone does not create safer cities: Nicole Kalms

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Bunbury sales activity has fallen with 2,600 homes sold over the year to February 2019, down 7% from one year ago, according to the latest CoreLogic Regional Report. 
Of the homes that transacted, 91% were houses while just 9% were units, the report noted. 
<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/2019/6/5/bunbury%201.jpg" alt="">
<a href="https://www.propertyobserver.com.au/images/2019/6/5/bunbury%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/2019/6/5/bunbury%202.jpg" alt="">
Source: CoreLogic
Dwelling values have fallen across the Bunbury region over the 12 months to March 2019 for both houses (-4.1%) and units (-19.5%).
Homes are taking longer to sell when compared to February 2018, with the average time it takes to sell a house increasing by 11 days and the average unit increasing by 10 days.
<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/2019/6/5/bunbury%203.jpg" alt=""> 
<a href="https://www.propertyobserver.com.au/images/2019/6/5/bunbury%204.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/2019/6/5/bunbury%204.jpg" alt="">
Source: CoreLogic
Vendors are offering a slightly larger discount to secure a sale for both houses and units.
Across the rental market, the advertised rental rate for houses across the region remains unchanged over the year, while units are $10/week more affordable when compared to March 2018.
<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/2019/6/5/bunbury%205.jpg" alt="">
Source: CoreLogic
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Bunbury house rent remains unchanged while dwelling values fall: CoreLogic

Developers and apartment buyers have a narrowing window of opportunity before Brisbane's Olympic infrastructure pipeline begins competing directly with residential construction, pushing up costs, tightening labour supply and making new projects increasingly difficult to deliver.

While Brisbane's apartment market continues to benefit from strong population growth and limited housing supply, industry research suggests the years leading up to 2027 could prove to be the most important period for developers looking to secure builders and buyers hoping to purchase before the next wave of price increases.

A new Colliers report, Brisbane 2032 Olympic and Paralympic Games: Creating Solutions, highlights the scale of the challenge. While thousands of new homes are planned across South East Queensland, the Brisbane Olympic Athletes Village alone will deliver more than 10,500 beds during the Games before being converted into around 1,750 to 2,000 apartments. Equivalent to almost two years of typical inner-city apartment supply, the project will also absorb a significant share of the construction workforce and building materials.

The broader construction pipeline paints an even clearer picture.

Construction Skills Queensland's Horizon 2032 report forecasts Queensland's annual construction pipeline will average $69 billion over the coming years before peaking at $75 billion in 2027-28. Demand for construction workers is expected to increase by 17 per cent to almost 150,000 people, with the industry facing an annual shortfall of around 19,000 workers that could blow out to as many as 35,000 during the peak construction period.

The Olympic venues, athletes village and supporting infrastructure will account for billions of dollars worth of work across South East Queensland through to 2032, creating intense competition for labour at a time when Australia's residential construction sector is already under pressure.

[smartcode_project:default project_id=150489 project_image_fid=373834]

Colliers Queensland Residential Director Andrew Scriven said the convergence of these projects is creating a clear window of opportunity for both developers and buyers.

"From 2027 onwards, the market will shift dramatically," Scriven said.

"Labour will increasingly be locked into government-led infrastructure and Olympic projects, which means private residential developments will face higher costs and tighter margins. The developers who move now are the ones most likely to get projects off the ground."

Scriven said the same dynamic would also affect buyers, with fewer apartment projects expected to launch once construction capacity tightens.

"If you're looking to change your lifestyle over the next five years, now is your window of opportunity to buy."

[smartcode_project:default project_id=150713 project_image_fid=373827]

Developers are already positioning themselves ahead of that window.

Following the success of Monarch at Toowong, Consolidated Properties is preparing to launch two new Brisbane apartment projects in the second half of 2026. They include <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> at Yeerongpilly Green, a 25-storey tower within one of Brisbane's key Olympic precincts, and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a recently approved 25-storey riverfront development at 47 Skyring Terrace in Newstead.

Hutchinson Builders will deliver both projects, with early works already underway at Yeerongpilly and Newstead expected to commence later this year.

The timing comes as Brisbane's fundamentals continue to strengthen, with strong interstate migration, population growth and vacancy rates remaining below 1.5 per cent.

Colliers Queensland researcher Pragya Sharma said Greater Brisbane is forecast to require around 40,000 new apartments between 2021 and 2031.

"There's a real mismatch emerging between when housing is needed and when it will be feasible to build," Sharma said.

"As a result, the period leading up to 2027 presents a key window of opportunity for developers to secure approvals, funding and construction capacity, while buyers will have greater choice before supply constraints intensify."

Colliers research outlines a critical pre-2027 window to start residential projects before labour squeeze: now is the time to buy

Joel Robinson

Developers, buyers on watch in South East Queensland ahead of construction crunch: Colliers

It's taken less than nine months for developer Sherpa Property Group to sell out all 51 apartments in its <a href="https://www.apartments.com.au/new-apartments/flourish-oasis-palm-beach-7-9-sixth-avenue-palm-beach-qld-4221">Flourish Oasis</a> development in <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>, over a year before its anticipated completion.

&nbsp;

Located at 7-9 Sixth Avenue, the $67 million development has resonated strongly with both local owner-occupiers and downsizers seeking high-quality apartments within walking distance of the beach, dining precincts and everyday amenities.

[smartcode_project:default project_id=151449 project_image_fid=357458]

Christie Leet, Founder of <a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Group</a>, said the sell-out reflected both the strength of the Palm Beach market and the success of Sherpa's community-first approach to development.

"The sell-out of Oasis is a fantastic outcome and reinforces the strong demand we're seeing for thoughtfully designed apartments in lifestyle locations," Leet said.

"From the outset, our vision was to create a development that genuinely enhanced the Palm Beach community while providing residents with exceptional homes and wellness-focused amenities.

"We've been incredibly encouraged by the level of local support throughout the campaign, 72.5 per cent of buyers are locals, with a significant proportion of purchasers choosing Oasis as their future home rather than an investment."

[smartcode_project:default project_id=151449 project_image_fid=357463]

Construction is now progressing following development approval, with trusted builder LPS Group delivering the project and completion anticipated in Q3 2027.

Oasis forms part of Sherpa Group's successful Flourish collection, which has become recognised for its focus on wellness, community and elevated coastal living.

[smartcode_project:default project_id=151449 project_image_fid=357469]

Residents will have private access to a rooftop amenity space featuring a pool, gym, sauna, steam room, hot and cold plunge pools, spa and barbecue facilities.

"The success of Oasis demonstrates that buyers continue to prioritise quality, location and lifestyle," Leet said.

"We are proud to have delivered a project that has resonated so strongly with the market and look forward to bringing Oasis to life for our future residents."

Sherpa recently launched <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>, its third instalment of the Flourish brand in Palm Beach following Flourish Oasis and <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>.

[smartcode_project_cta:default project_id=151449]

Sherpa sells out Flourish Oasis in booming Palm Beach

Urban Property Group's <a href="https://www.apartments.com.au/new-apartments/la-vera-macquarie-park-94-talavera-road-macquarie-park-nsw-2113">La Vera</a> is leading the next phase of Macquarie Park's residential evolution, with the new apartment development set to become the first of several new apartment projects in the precinct to complete.

The 169-apartment building has now topped out ahead of its scheduled completion in the third quarter of 2026, as new residential investment continues to reshape one of Sydney's largest employment hubs into a true mixed-use precinct.

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Cox Architecture has designed La Vera to capture the best of its unique positioning on Talavera Road, orienting the building towards Lane Cove National Park.&nbsp;The building features a sculpted northern façade with flowing curves inspired by the surrounding landscape, while its city-facing elevation adopts a more structured architectural expression to maximise skyline views.

"The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park," <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> Director Felipe Miranda said.

"The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies."

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La Vera offers a diverse mix of one, two, three, and four-bedroom configurations, with prices currently starting from $740,000. Buyers so far have been a mix of Sydney-based investors,&nbsp;metro commuters, owner-occupiers and downsizers from surrounding North Shore suburbs.

Both investors and owner-occupiers have been drawn to La Vera's proximity to Macquarie University, Macquarie University Hospital, Macquarie Centre and the Sydney Metro, infrastructure that supports both strong rental demand and a convenient lifestyle for residents.

The apartments feature full-height glazing, timber flooring throughout living areas, stone kitchen benchtops, SMEG appliances, floor-to-ceiling bathroom tiling and ducted air conditioning.

Residents will have access to a rooftop recreation level featuring a swimming pool, sauna, barbecue facilities and landscaped relaxation areas, complemented by additional communal space at ground level. Many apartments enjoy uninterrupted views across Lane Cove National Park, reinforcing the project's connection to its natural setting.

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<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>, a family-owned developer and builder with nearly four decades of experience, holds a 4.5-star iCIRT rating and was Australia's first developer to introduce 10-Year Latent Defects Insurance (LDI). La Vera is the first apartment development in <a href="https://www.apartments.com.au/developments/macquarie-park-nsw-2113">Macquarie Park</a> approved to offer the additional insurance protection, alongside a five-year warranty on SMEG appliances.

Urban Property Group CEO Patrick Elias said the additional protection reflects changing buyer expectations in the off the plan market.

"Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share," Elias said.

Following completion of the building later this year, buyers will move into their apartments well before Christmas.

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La Vera closes in on completion as Macquarie Park continues residential transformation

Brisbane developer Red &amp; Co's decision to include dual key apartments in its debut Gold Coast apartment development, <a href="https://www.apartments.com.au/new-apartments/como-varsity-lakes-22-lake-street-varsity-lakes-qld-4227">COMO Varsity Lakes</a>, is proving to be one of the project's biggest drawcards, with buyers quickly snapping up the flexible residences.

More than half of the project's 36 dual key apartments have already sold, helping drive COMO beyond the 50 per cent sold mark within the first month of launch.

The strong response highlights growing demand for apartment designs that can adapt to changing lifestyles, with buyers increasingly looking for homes that accommodate multi-generational living, provide rental income opportunities or simply offer greater flexibility over time.

Located on the shores of Lake Orr, COMO will deliver 156 apartments across 16 levels, with the dual-key residences forming a limited release within the broader development.

Each combines a primary two-bedroom apartment with a fully self-contained studio on a single title, connected by a shared foyer and lockable internal door. The design allows owners to house ageing parents, adult children or guests while maintaining privacy, or lease the secondary residence to generate additional income.

Just 17 of the original 36 dual key apartments remain available.

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The innovative configuration combines two fully self-contained residences on a single title, typically comprising a primary two-bedroom apartment alongside a separate studio residence, connected via a shared foyer and lockable internal door.&nbsp;

The model is proving particularly attractive to owner occupiers navigating changing family dynamics and the realities of the current housing crisis.&nbsp;

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<a href="https://www.apartments.com.au/project-marketer/npa">NPA</a>&nbsp;CEO Andrew Erwin said dual key living was resonating strongly with modern buyers because it delivered both financial flexibility and practical lifestyle benefits.&nbsp;

“The housing crisis and rising cost of living are fundamentally changing how Australians think about home ownership,” Erwin said.&nbsp;

“Dual key apartments provide a genuine solution for families who want to stay connected while maintaining independence. Parents can help adult children save for a future home, ageing parents can remain nearby without moving into aged care, and owners still retain privacy and flexibility.

“Importantly, buyers are also recognising the financial advantages. It creates the opportunity to generate additional income from part of the home without the holding costs associated with owning a separate investment property.”&nbsp;

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Unlike traditional dual occupancy arrangements, the residences operate under a single title, meaning owners only incur one set of body corporate fees, council rates and holding costs.&nbsp;

The secondary residence can also evolve over time - functioning as guest accommodation, a home office, creative studio or private retreat before later becoming an income-producing asset.

<a href="https://www.apartments.com.au/developers/red-co">Red &amp; Co</a>&nbsp;Director and Co-Founder David Laverty said the strong early sales reflected growing buyer urgency and changing priorities within the market.&nbsp;

“Securing more than half of COMO’s residences within such a short timeframe is an outstanding result and a clear endorsement of both the design and location,” Laverty said.&nbsp;

“Buyers are responding to the combination of location, connectivity and amenity, but ultimately it’s value relative to other East Coast markets that is driving enquiry.”&nbsp;

“We’re also seeing strong interest from owner occupiers looking for homes that can adapt with them over time. Flexibility has become one of the most important considerations for buyers in today’s market.”&nbsp;

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Designed by <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, COMO features a mix of one-, two- and three-bedroom residences with 2.7-metre ceilings and larger-format floorplans aimed at owner occupiers, downsizers and lifestyle-focused buyers.&nbsp;

The development will feature an extensive rooftop recreation and wellness offering including a 25-metre lap pool, sundeck, barbecue and dining areas, gym, sauna, plunge baths, landscaped gardens, wellness spaces and rooftop pickleball and paddleball courts.

The remaining dual key apartments range from 137 sqm to 167 sqm and include generous three-bedroom layouts with separate self-contained studio accommodation and dual parking.&nbsp;

Erwin said the dual key concept represented a broader shift in how Australians would live in the future.

“People want homes that can evolve with their lives,” he said.&nbsp;

“A dual key apartment can suit a family today, support an ageing parent tomorrow, and potentially generate income later on. That adaptability is becoming incredibly valuable in the current environment.”

Prices currently range from $2,115,750 to $2,583,000.&nbsp;

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Inter-generational living drives demand for COMO’s dual key apartments as housing pressures reshape buyer priorities 

Builder-developer&nbsp;<a href="https://www.apartments.com.au/developers/ceerose">Ceerose</a> has doubled down on its Leichhardt ambitions, lodging its second State Significant Development Application (SSDA) in the suburb in the last six months.

Their newest proposal seeks to transform a former industrial precinct into a new residential community centred around the adaptive reuse of one of the site's heritage warehouse buildings.

The new project, on a 6,930 sqm block at&nbsp;<a href="https://www.apartments.com.au/new-apartments/40-76-william-street-leichhardt-nsw-2040">40–76 William Street</a>, will bring more than 200 apartments to a suburb that has seen little to no new supply in recent years. It follows Ceerose's late 2025 SSDA for a mixed-use apartment project on nearby Parramatta Road, signalling the developer's growing investment in Sydney's Inner West.

Ceerose Founder Edward Doueihi told Apartments.com.au the developer’s long-standing presence in Leichhardt and the Inner West had given it a strong understanding of how the area has evolved and where its future opportunities lie.

“Ceerose has had a long-standing presence in Leichhardt and the Inner West, giving us a unique understanding of the area’s evolution and future potential,” Doueihi said.

“Having delivered projects throughout the region, we have witnessed the suburb’s transformation first-hand and understand the opportunities for its continued growth.”

Doueihi said that understanding also informed the planning process, with a comprehensive Stakeholder Engagement Outcomes Report prepared before the application was lodged.

The report identified the key issues and concerns raised by neighbouring residents and other stakeholders, allowing those matters to be considered and incorporated into the design where appropriate.

He said the delivery of additional housing would also play an important role in supporting the revitalisation of Norton Street and the Italian Forum.

“By increasing the local residential population, the development is expected to strengthen demand for local businesses, encourage further investment, and help restore the vibrancy that made the precinct a thriving destination in the early 2000s.”

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="7258c54c-8167-479e-8361-2d5fca9915b4" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010B%20-%20CGI%20-%20View%202.jpg?VersionId=S9DQfxu_jpcB5LrAEYFUbyMzg5odW6i5" />

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, the redevelopment would involve the demolition of four existing industrial buildings while retaining and adaptively reusing the site's most significant warehouse. The retained structure would anchor a new residential precinct comprising five interconnected buildings arranged around a large central landscaped courtyard, with heights stepping from five storeys along the surrounding residential streets to 11 storeys at the William Street corner.

According to the Architecture Design Report by Woods Bagot, the proposal "seeks to create a residential village centred around a generous green heart while celebrating the site's industrial heritage through the adaptive reuse of the existing warehouse building."

The development would comprise 203 apartments, with 188 proposed as build-to-sell residences, alongside 15 affordable housing apartments.

Rather than treating the retained warehouse as a standalone heritage object, Woods Bagot has sought to weave the site's industrial history throughout the masterplan. The proposal retains the north and west facades of the landmark corner warehouse, while new buildings reinterpret the site's brick-and-steel industrial language through their material palette and architectural expression.

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="9e8c64c2-881b-49e1-8c90-6b6acaaa45b6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010C%20-%20CGI%20-%20View%203.jpg?VersionId=Qm8_8H_Xrg_sc4Mdjc59vlAcKF_5wRTb" />

The design is organised around what Woods Bagot describes as a "green heart", a landscaped communal open space that reinstates the leafy character removed when the site became an industrial storage facility. A new pedestrian laneway running through the site would improve permeability between William, North and Francis streets, linking residents through landscaped public spaces while activating the ground plane.

Residents would have access to communal gardens and shared recreation areas distributed throughout the development. Sustainability has also been prioritised, with the project targeting an average 7.9-star NatHERS rating. Proposed initiatives include rooftop solar generation, rainwater harvesting, passive solar design, naturally ventilated lobbies, extensive cross-ventilation and the reuse of existing building fabric to reduce embodied carbon.

The adaptive reuse strategy became a defining feature of the application after heritage investigations found only one of the site's industrial buildings could feasibly be retained. The Heritage Impact Statement concludes that preserving the key warehouse façades while referencing the site's industrial character throughout the new development provides an appropriate balance between renewal and conservation.

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="efffafdb-594f-4e2b-a067-921fd51c05e1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010D%20-%20CGI%20-%20View%204.jpg?VersionId=DPmE4.k16YRt0i27hEZVtJAffarpvUfx" />

"Retention and adaptation of the site buildings has been explored but found not to be feasible except for the tallest building, whose street facades will be retained," the heritage report states.

"The proposed building will interpret the brick and steel character of the subject site, including reuse of some components and construction of a large 'sawtooth' structure in the proposed open space."

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="3bfef2b5-83f5-40cd-9cab-767092f34266" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010E%20-%20CGI%20-%20View%205.jpg?VersionId=7asb3i_ql4ybbuJOUb5UHBEIy0Q9t.DF" />

The William Street site is located around 300 metres from Leichhardt North Light Rail station and a short walk to Norton Street's retail, dining and hospitality precinct. The surrounding area has increasingly become a focus for urban renewal given its proximity to public transport and the Parramatta Road corridor.

Doueihi founded Ceerose in 1998 and has grown the business to become one of Sydney's more active apartment developers in recent years, with completed projects including The Alex Collective in Alexandria, Abbie's Lane in Annandale, and the award-winning Munro House in Elizabeth Bay. They are currently delivering Belgravia, 17 luxury apartments in Potts Point.

Staff reporter

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