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GUEST OBSERVATION
The independent owner-operated businesses that bring life to run-down neighbourhoods often have a hipster ethos. 
One of the stark differences between neighbourhoods in the inner city and outer suburbs in Australia is the quality and type of retail offerings. Gentrifying inner-city suburbs – places like West End in Brisbane, Fitzroy in Melbourne and Newtown in Sydney – are characterised by independent owner-operated retail businesses. Busy “<a href="https://www.brookings.edu/blog/up-front/2016/09/14/third-places-as-community-builders/" target="_blank">third places</a>” such as cafes, bars and restaurants – where people spend time between home (“first” place) and work (“second” place) – are common.
These are the favoured haunts of the hipster. Hipsters have an uneasy place in our cultural landscape, not least of which is their role in gentrification. However, their role in the inner city is important in showing the rest of the city how to create contemporary, accessible and successful third places with low, non-gendered barriers to entry.
Third places provide residents and visitors with a variety of what <a href="https://www.propertyobserver.com.au/https://www.amazon.com/Great-Good-Place-Bookstores-Community/dp/1569246815" target="_blank">Ray Oldenburg</a> calls “the core settings of informal public life”. Cafes, bars, pubs, clubs or chess rooms (in some places) are places where people can meet informally or be “together alone”. They allow for planned and accidental encounters across different times of the day and are essential for a healthy neighbourhood social life or “sense” of community.
<a href="https://images.theconversation.com/files/256225/original/file-20190130-108355-1dzcaub.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/256225/original/file-20190130-108355-1dzcaub.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
(Source: Author provided)
Cafes and bars provide a ‘third place’ where people can meet informally or be ‘together alone’, as seen here in St Kilda, Melbourne.
What’s missing from outer suburbs?
As we travel out of the inner city towards the outer suburbs, residents become increasingly deprived of these places. Suburban retail centres become less “local” – shopping centres are isolated from the surrounding neighbourhood, controlled by a single corporate landlord, marooned in a sea of parking and offer a predictable range of franchised outlets and national brands, often anchored by a large supermarket. At the district level are huge impersonal shopping malls.
None of this enables residents to take advantage of local third places or feel any sense of authorship over them, which is so important for creating place and community.
History has an obvious role to play. Inner-city suburbs were planned and built before widespread car ownership. Streets are laid out in grids, which make for easy and direct pedestrian or bicycle travel.
These areas were built before the introduction of strict “single use” zoning regimes, so have a good mix of land uses. Retail, residential and even industrial properties exist side by side. Property ownership has evolved so one landlord rarely controls an entire retail strip.
Businesses open on to wide, protected footpaths which are thoroughfares for more than just the businesses located there. The built form is varied, interesting and vernacular and suited to small independent businesses.
<a href="https://images.theconversation.com/files/256228/original/file-20190130-39344-ooqmjp.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/256228/original/file-20190130-39344-ooqmjp.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
(Source: Author provided)
Buildings are varied, interesting and vernacular and suited to small independent businesses in West End, Brisbane. <a class="source" href="https://www.flickr.com/photos/coffeesgonecold/34858238476/in/album-72157704622068821/"> </a>
Gentrification and the hipster
Inner-city neighbourhoods in recent decades have been gentrified as more affluent residents and businesses colonise formerly working class, migrant or Indigenous areas of inner cities. <a href="https://www.propertyobserver.com.au/https://journals.sagepub.com/doi/pdf/10.1177/0042098013489748" target="_blank">Gentrification</a> takes place over a long time and in particular phases.
The first to colonise an area are “renter gentrifiers”. They are responsible for making the place hip or edgy through alternative music and art, underground fashion and an embryonic start-up business culture.
Despite the mockery they inspire, the hipsters’ pursuits create ‘third places’ that foster a sense of community. 
This in turn attracts better-resourced gentrifiers who share the same cultural tastes as the renter gentrifiers but have money. This creates demand for a range of retail outlets, such as artisanal bakers, micro-breweries, tattoo artists, vintage fashions, vinyl record stores, independent bookstores and, most importantly, abundant bars, cafes and coffee shops.
These businesses are stereotypically run by hipsters, a subculture easily recognisable by their carefully curated full beards (male), artistic or ironic tattoos, skinny jeans and other vintage accessories. Hipsters are often disparaged for their lack of originality, for championing a look that mimics a historical period they never experienced. As <a href="https://books.google.com.au/books?id=PolRLfWavjAC&amp;pg=PA41&amp;lpg=PA41&amp;dq=%E2%80%9Ccreativity,+genius,+eternal+value+and+mystery+are+inseparable+from+the+hipster%E2%80%9D&amp;source=bl&amp;ots=HQ-zgs5qVz&amp;sig=ACfU3U3DVpH8zOCFV65Nacxi0HX_AlkGvw&amp;hl=en&amp;sa=X&amp;ved=2ahUKEwihzcXwgpTgAhWHM48KHZm2BagQ6AEwAHoECAAQAQ#v=onepage&amp;q=%E2%80%9Ccreativity%2C%20genius%2C%20eternal%20value%20and%20mystery%20are%20inseparable%20from%20the%20hipster%E2%80%9D&amp;f=false" target="_blank">Jake Kinsey writes</a> sarcastically in a whole book that derides hipsters: "… creativity, genius, eternal value and mystery are inseparable from the hipster."
The quest for authenticity
Authenticity is a contested word, but if we think in terms of “authorship”, the independently owned and operated third place where both owner and customer feel a sense of ownership and reciprocal obligation provides much more authenticity than just another outlet in a chain of franchises.
While some hipster businesses that work in the gentrified inner city might not work so well in the outer suburbs, people who live in these suburbs are not a different species. The desire to get out of your house, to socialise, to see your neighbours out in the community or to be “together alone” is <a href="https://www.propertyobserver.com.au/https://academic.oup.com/heapro/article/17/4/351/607018" target="_blank">not limited</a> to the inner city. There is no reason people in the suburbs would not respond to independently owned businesses, rather than the remotely controlled, rationalised franchises – see “<a href="https://onlinelibrary.wiley.com/doi/abs/10.1002/9781405165518.wbeosm001.pub2" target="_blank">McDonaldization</a>” – that populate so many suburban shopping centres.
Quality third places are just as important in the outer suburbs, which are becoming increasingly diverse in terms of life stage, ethnicity, culture and employment type.
<a href="https://images.theconversation.com/files/256227/original/file-20190130-108355-1hsx8w4.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/256227/original/file-20190130-108355-1hsx8w4.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
(Source: Author provided)
Keeping ‘McDonaldization’ at bay in Fitzroy, Melbourne.
So what’s the solution?
Property developers are often quick to point out that local retail is not economically viable in new suburbs unless it consists of supermarkets and fast-food outlets and is surrounded by tarmac. Local (walkable) retail is invariably compared on price to the large impersonal shopping malls that draw shoppers in from the suburbs. However, the lure of a small local shopping precinct, where “third place” businesses such bars, cafes and restaurants and community hubs can operate at survivable rents, is a different proposition.
This is not a new suggestion. Various models have been <a href="https://www.propertyobserver.com.au/https://academic.oup.com/heapro/article/17/4/351/607018" target="_blank">proposed</a> to subsidise retail rents, provide independent freehold of individual retail premises, or rent control.
Developers have been reluctant to help with this as it not profitable (for them). Local authorities have also been reluctant to engage developers on this front.
There are, however, some encouraging exceptions to this. Some more enlightened developers see the sustained benefit of creating <a href="http://www.yourneighbourhood.com.au/diningprecinct-evertonplaza-791staffordroad-evertonpark/" target="_blank">community hubs</a>. The argument is for a social good rather than a purely economic one.
The outer suburbs are spatially different to the inner city – history and late capitalism have taken care of that. Local authorities need to think about current inflexible zoning regimes and about how small socially beneficial businesses can be encouraged.
Suburbs do not empty out during the day. In a post-work and ageing society, suburbs will become socially barren places to live unless there are lively hubs where people can leave the private realm of the home and see each other in a welcoming environment in which they feel some authorship. <img src="https://counter.theconversation.com/content/110177/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;">
There’s more to the experience than just savouring the coffee in Fitzroy, Melbourne.
<a href="https://theconversation.com/profiles/peter-walters-170156" target="_blank">Peter Walters</a>, Senior Lecturer in Sociology, <a href="http://theconversation.com/institutions/the-university-of-queensland-805" target="_blank">The University of Queensland</a>
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/why-outer-suburbs-lack-inner-citys-third-places-a-partial-defence-of-the-hipster-110177" target="_blank">original article</a>.
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j.ballantyne1990-6AQqhLzZaK

Why outer suburbs miss out? A partial defence of the hipster: Peter Walters

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A former record breaker in Seaforth on Sydney's Northern Beaches is set to top the charts for the harbourside suburb again given its $15 million guide.
<a href="https://theagency.com.au/16847/41-battle-boulevard-seaforth" target="_blank">The five level waterfront on Battle Boulevard</a> last traded for $8.31 million in 2007 when it was bought virtually brand new by gold and nickel miner Peter Goudie.
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Set in tiered Japanese gardens, the luxury six bedroom home with billiards room and home theatre looks out across Middle Harbour to Spit Bridge from its glass wrapped interiors.
The views are also captured from the entertaining terrace, complete with an infinity swimming pool.
<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/2019/2/8/Sea2.jpg" alt="">
An internal lift runs through the home, while a garden inclinator runs down to the water where there's a jetty and boat house.
David Rothschild and Lincoln McCarthy at The Agency are marketing the home.
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Record setting Seaforth property set to top the sales again

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A North MacKay, Queensland home has been sold by its mortgagee for $222,500.
Last sold for $311,000 in 2008 the property has seen an $88,500 price reduction on its previous sale price.
Situated at <a href="https://www.domain.com.au/10-amelia-drive-north-mackay-qld-4740-2014798538" target="_blank">10 Amelia Drive, North MacKay</a> the house is a three bedroom one bathroom affair.
<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/2019/2/Subscriber%20strip%20ad.jpg" alt=""></a>
It's latest sale price was lower than the $232,000 sale in 2005.
Set on 673 square metres the property was owned by the Queensland Government until they sold it for $102,600 in 1997.
It is located within walking distance of Fitzgerald Primary school as well as the Mount Pleasant shopping centre.
Featuring an open plan dining/lounge arrangement the home has polished timber floors throughout.
The home also has a verandah.
The median price for a home in <a href="/developments/north-mackay-qld-4740">North MacKay</a> is $280,000, according to CoreLogic.
They calculate the annual change in median price in the suburb as as going backwards by -1.3% annually over the past decade.
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Mortgagee's North MacKay home sold for $90,000 loss

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Children of celebrity chef Jacques Reymond, the proprietors of South Yarra's Bistro Gitan and Prahran’s L'Hotel Gitan, have signed a lease to establish a third restaurant.
Located in North Yarra, Cremorne, this new eatery will occupy the whole ground floor of Cobild Construction’s new eight level office development at 9-11 Cremorne Street.
Teska Carson‘s Luke Bisset and Matthew Feld brokered the lease.
Mr Bisset said Nathalie, Antoine, and Edouard Reymond (pictured alongside their father) would split the 345 sqm tenancy into two spaces a 35-seat European focused wine bar and a 75-seat bistro.
Antoine Reymond says the yet-to-be-named restaurant will be slightly different to either of the Gitans. "It will be a little more European as opposed to French-focused."
SJB Interiors, who did work on the Gitans, will design both spaces. "It'll be French new-wave," says Antoine. "There's a gorgeous, heritage-listed brick facade, a terrace out the front, and nice high ceilings inside."
The family hopes to open by early June.
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Jaques Reymond family to open new restaurant in Cremorne

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Solvency and accounting firm Worrels has been appointed as voluntary administrator to the makeup brand Napoleon Perdis.
Founder and makeup artist Napoleon Perdis attributed blame to a wide range of factors from “greedy (lenders)” to declining “foot traffic” in the retail sector and entry of multinational fashion brands to the Australian market.
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The company's 56 stores closed their doors for a stocktake on Thursday but reopened today, Friday. 
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More than 600 staff are employed the company, which opened its first store in 1995,
The majority of their storefronts are in NSW, specifically Sydney, however they have at least one store in every capital city across across Australia
Worrels was appointed after the Napoleon Perdis directors were unable to find investors or sell the business over the past few months.
Mr Perdis (pictured below) said in an interview with Your Money, that demand for their products is still strong through partner stores including Priceline and Terry White chemists, as well as its online store.
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He complained that landlords are "squeezing" small and large businesses while they allow "large multinational (businesses) to negotiate much lower per square meter return rate".
"I just want an equal playing field"
"For a couple of years now we've been trying to consolidate our retail structure and there's been enormous costs," he stated.
He disclosed to ABC, "If you estimate that we close 20 to 25 stores, there's three staff per store on average, so close to 100 staff may need to be redeployed, however we're looking to actually see whether we can place them in partner businesses like Priceline."
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An initial creditors meeting will be held within eight days, with a second meeting to determine the brand's future expected to be held within a month.
Several Australian retailers have entered administration during the past 12 months, including <a href="/news/menswear-chain-roger-david-shutting-down-leaving-behind-56-empty-storefronts">menswear chain Roger Daved.</a>
 
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Australian beauty brand Napoleon Perdis may close 20+ stores in voluntary administration

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<div id="x_divRplyFwdMsg" dir="ltr">The mortgagee of 61 units in the residential complex Gondon Élysée in Sydney's Epping has listed them all for sale.</div>
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<div dir="ltr">They will be sold in one line by receivers and managers Newpoint Advisory through Colliers.</div>
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<div dir="ltr">The inventory sat on the Gondon company books with a $52 million valuation. </div>
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The developer has been unable to sell the combined 61 units at 1 to 5A Cliff Road, and at 6-10 Carlingford Road.
<a href="https://www.jlglobalau.com/elysee" target="_blank">The master sales agency</a> was J&amp;L Global with sales achieved between $500,000 and $1,538,000, with all but six sales to buyers of Chinese descent.
The project boasts a mix of one, two and three bedroom apartments. 
Gondon Élysée Epping consists of two buildings. 151 car secure parking.
There are 57 1 bedroom 1 bathroom units , some 61 of the 2 bedroom 2 bathroom units , and 12 of the 3 bedroom 2 bathroom units.
Completed in late 2017, 1 Cliff Road has 130 apartments.
The expressions of interest close February 25.
Developer Gondon paid $26 million to aggregate the homes at the corner of Carlingford and Cliff roads. The corner block at 6 Carlingford Rd cost the highest acquisition price of $4.41 million, according to CoreLogic.
The block is within the Epping Priority Precinct, which the state government declared for concentrated housing development.
Gondon’s earlier project was at North Ryde – the 179 apartments on the block bounded by Lane Cove and Eppings Rds and Allengrove Crescent, North Ryde, known as Gondon Macquarie which was built by Arise Construction to a SJB design.
Philip Campbell-Wilson and Said Jahani were appointed liquidators in November 2018.
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The appointment was referred to by Australian Select Mortgage Pty Limited which is also a shareholder of Gondon in May last year.
Pacific Alliance Group holds a registered security interest. 
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Chinese Epping developer collapse sees 61 Gondon Elysee apartments for sale

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ING, the fifth-biggest home loan lender in Australia, has lifted variable interest rates for all customers by 0.15 percentage points.
The hike will affect more than 100,000 borrowers from February 7, coming after ING also lifted variable rates on investment home loans by 0.15 percentage points in September and for owner-occupiers in July, by 0.1 percentage points. 
For owner-occupier borrowers paying principal and interest, the advertised rate will rise from 3.78 percent to 3.93 percent.
Those with a $300,000 30-year mortgage, face an increase from $1394 to $1420 a month.
A spokeswoman for the bank said: “We review our rates regularly and occasionally we need to increase them to ensure we can adjust to market changes while continuing to be best placed to provide our customers with simple, effective banking products.”
Sally Tindall, a spokeswoman for financial services broker RateCity, said ING’s rate hike was “disappointing” for customers.
The Reserve Bank board meets on Tuesday when it is expected to keep the cash rate on hold at 1.5 per cent.
 
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ING raises rates again

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The Australian Institute of Architects has announced the appointment of Julia Cambage to the position of chief executive officer for the architecture profession’s peak body.
Cambage (pictured below) joins the Institute, which represents more than 11,000 members in Australia and overseas, with over 20 years of CEO experience.
She was most recently CEO for TRY Australia – a youth charity and mentoring organisation employing over 400 staff and 200 volunteers across Australia with a $30 million turnover.
National President, Clare Cousins said the Institute is firmly in an "era of transformation".
"Ms Cambage’s entrepreneurial nature coupled with extensive experience and commercial acumen provide the perfect fit for the organisation and the profession as we continue on this exciting trajectory," said Cousins.
<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/2019/1/1/Strip%20ad%20keep%20up%20in%202019.jpg" alt=""></a>
Cambage has previously held top level positions at national not-for-profits Procurement Australia and Family Business Australia, developing and implementing sustainable programs to achieve strategic growth.
During her six-year tenure as CEO at TRY Australia, Cambage was instrumental in the development and implementation of a range of sustainable enterprises including TRY Uncontained, a progressive social business converting shipping containers into affordable, small footprint housing.
The program was supported by property maintenance, furniture production and labour hire, providing training and employment.
That initiative specifically was recently recognised at the Social Enterprise World Forum in Edinburgh as a true game changer.
Cambage commences on next Monday.
She will be based at the Institute’s Melbourne offices at 41 Exhibition Street.
<img src="https://www.urban.com.au/images/2019/1/17/Cambage.JPG" alt="">
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Australian Institute of Architects welcomes new CEO, Julia Cambage

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The auction of the Moama district farming property, Kinrara has been listed for auction.
Set at 118 Ripper Road, about 30 kilometres north of Moama-Echuca, the property is 280 hectares (693 acres).
Agents expect it will attract interest because it has been certified organic by the accredited NASAA (National Association for Sustainable Agriculture Australia) whose standard ensures organic integrity from paddock to plate.
Currently, organically accredited products such as hay, grains or pulse crops are selling for double normal market rates and there is also significant supply chain demand for sheep or cattle that are organically produced.
The Kinrara property will be auctioned by Rodwells Ruralco Property on February 22.
Rodwells Ruralco selling agent Andrew Miller says that the property is being offered on behalf of the Hehir family who have held the property since 1998, but had leased it for eight years prior to purchase.
They undertook the three-year long process to secure the NASAA organic accreditation.
“The vendors have dairy farming interests in northern Victoria and have principally been using the Kinrara property to produce supplementary pasture products under irrigation to support their organic milk dairy production, as well as rearing young stock and wintering dairy cows,” said Miller. 
“But they have recently secured another holding that adjoins their home farm, so that Kinrara has become surplus to their needs, hence its offer for auction sale.”
Miller says that the formalisation of organic production of both dairy products and livestock confers significant value to an accredited farm like Kinrara.
As well this property is suitable for cropping and would also support sheep or cattle production as it has significant infrastructure in place.
Kinrara will be offered with the successful purchaser having the first option to purchase at market rates the significant water right of 666 megalitres of NSW General Security water which is sourced from the Moira channel which adjoins a boundary of the holding. 
The water entitlement is considered double the normal district farm entitlements and resulted from the consolidation of two local property entitlements many years ago.
In addition, there is also an 8 megalitre Stock &amp; Domestic water right.
During their ownership the vendors have developed a high capacity and high flow flood irrigation system over about 211 hectares. 
The further land area of 60 hectares is used for dryland grazing and is mostly suitable for cropping.
The holding is subdivided into nineteen paddocks, all electric fenced, with an internal gravel laneway system that facilitates year-round access and enables operational efficiency even in the wettest winters.
The property has a 40 megalitre capacity turkey nest dam which can be gravity filled from the Moira channel system with all runoff from irrigation recycled back to the sumps at the dam m where it can be reused.
The water resources are also used effectively with two-inch poly pipe mains to concrete troughs in every paddock served by an electric pressure pump. 
There are dams in 10 of the paddocks while numerous box trees were retained for stock shelter and to enhance the presentation of the farm.
The property benefits from all-weather access while there are stock handling facilities of a shearing shed, new cattle yards and loading ramp beneath a very large Moreton Bay fig tree.
Buildings include an original unused homestead, with a transportable two bedroom living unit with appropriate services on the holding.
Three phase power is on the property which makes it attractive to intensely irrigated horticultural pursuits such as tomatoes or alternative tree crops.
The property is rectangular in shape with good road frontages on two boundaries.
Prior to outright acquisition in 1998 by the Hehir family the property was owned for many decades by the late Stan Jasper who with his wife lived modestly on the property and conducted a low impact farming regime, principally sheep and later to agist dairy cattle.
<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/2019/1/10/RURALCO%20KINRARA%20MOIRA%20CHANNEL.jpg" alt="">
With an aversion to cultivation or chemical use, this historic approach facilitated the conversion to organic. 
Miller notes that: “strong swards of sub clover and ryegrass have been managed over the last twenty years with a small cropping area, most recently of high yield vetch that was harvested in the 2018 spring. 
“Lucerne has also been established on the irrigated pastures after cropping and grown as summer green feed without irrigation to supply a large flush of autumn feed following the seasonal break or after further irrigation.
“The success of the lucerne is put down to roots beyond three metres reflecting the high value of the soils under the organic regime.”
The Hehir family has typically run 300 to 450 head of dairy cattle on Kinrara over the winter and cut 2,000 bales of clover dominant hay in most years. 
Surveys have established the organic matter of Kinrara’s soils in the range of 3.17 to 4.65% that is approximately double that of district farms. 
<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/2019/1/10/RURALCO%20KINRARA%20PASTURES.jpg" alt="">
Miller adds he has assessed the land value as in the region of $1,350 per acre.
“Nothing like this holding has come on to the market in this district in recent years nor is there anything of similar productivity expected to become available.”
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Organic Echuca-Moama region farm listed for auction

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The WA Government has called for offers on the former Princess Margaret Hospital carpark.
The three-street front West Perth offering encompasses a total 5,666 square metres, one of the inner-city’s largest infill redevelopment sites for some time.
Approval is in place for three titles with offers being sought for purchase as one englobo lot or as one of three individual site lots.
Situated opposite the old hospital, the former medical specialists’ carpark will play a pivotal role in the future rejuvenation of West Perth and complement the adjoining Subi East redevelopment precinct.
LJ Hooker Commercial Perth’s Brian Neo and Vincent Siciliano have been appointed exclusively to the sales campaign.
Neo anticipated the site – located on the eastern side of Thomas Street with almost 50 and 90 metres of frontage to Cook and Murray streets, respectively – would attract interstate and international interest.
He said it would appeal to developers looking for premium infill sites ahead of the next property cycle.
“This is the leading infill development site currently on the market in Perth and one of the best we’ve seen offered in several years,” said Neo.
“The site is earmarked for office and residential development under the City of Perth town planning scheme and, as an elevated site, has the capacity to offer stunning, panoramic views of the city via a future tower development.
“In addition to its large-scale footprint, any redevelopment of the site can leverage the amenity which the State envisions for the future of the Princess Margaret Hospital site, which it is connected to via a pedestrian underpass.”
The double western allotments of the carpark site each offer 1845 square metres of developable land, while the eastern allotment is larger at 1976 square metres.
“The former carpark site will have a great influence in the overall rejuvenation of the inner-city and the State Government is interested in finding a buyer with a vision to complement their intent for the precinct.”
Offers to purchase close February 22 2pm, WA time.
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Former Princess Margaret carpark listed by WA Government as infill redevelopment site

For most new apartment buildings, the Owners Corporation starts life with little more than a bank account and the first quarterly strata levies.

At <a href="https://www.apartments.com.au/buildings/9-gay-street-castle-hill-9-gay-street-castle-hill-nsw-2154">9 Gay Street</a> in <a href="https://www.apartments.com.au/developments/castle-hill-nsw-2154">Castle Hill</a>, it starts with around $7 million in reserve.

It's an unusual legacy of what was once one of Sydney's highest-profile apartment remediation projects. When the development, originally known as Skyview and built by disgraced developer Top Place, came under scrutiny by then NSW Building Commissioner David Chandler, an $11 million remediation bond was negotiated to ensure any building defects could be fully rectified.

The building underwent an 18-month remediation program, during which around $4 million of that bond was spent bringing the building up to the standard it should have been in from the outset.

After extensive inspections, all active rectification orders have been lifted. What's more, around $7.2 million remains secured for the Owners Corporation for the next 15 years.

In a twist few would have predicted, what began as a significant concern for purchasers has left the building with something almost unheard of in the apartment market: a multi-million-dollar financial reserve from day one.

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<a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a> Executive Chairman Greg Huxley said the structure offers buyers a level of certainty that is difficult to replicate.

"The $11 million bond established for the Skyview Castle Hill development represents exceptional value, providing genuine financial security for purchasers," Huxley said.

"Unlike a standard insurance policy, this bond consists of real funds held in trust for the Owners Corporation, offering a tangible layer of protection and added peace of mind."

The apartments themselves have been designed with a focus on practical, contemporary living. Interiors feature Smeg appliances, stone benchtops, tiled living areas, carpeted bedrooms, 2.7-metre ceilings, floor-to-ceiling glazing, and ducted heating and cooling throughout.

Residents also have access to a range of shared amenities, including two rooftop barbecue areas, a swimming pool, children's playgrounds, secure building access, storage cages, and visitor parking.

The location continues to be one of the project's strongest drawcards. Castle Hill Metro Station sits virtually on the doorstep, providing direct connections across Sydney's expanding Metro network, while Castle Towers offers extensive retail, dining, entertainment, and service amenities within walking distance.

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The building, now named after its location at 9 Gay Street, comprises a diverse mix of one-, two-, and three-bedroom apartments starting from just under $600,000.

Equitifund National Sales Director Ben Hamblett said demand in the Hills District continues to be driven by buyers seeking convenience and connectivity.

"Interest from both owner-occupiers and investors in Castle Hill remains exceptionally strong, with buyers consistently prioritising developments in close proximity to the Metro station and Castle Towers Shopping Centre," Hamblett said.

"There is a clear trend in the market, with purchasers seeking convenient access to transport and lifestyle amenities that support a seamless, low-maintenance way of living."

On top of the long-term protection afforded by the remaining $7.2 million bond, Equitifund is offering a limited-time stamp duty rebate on selected apartments.

Eligible purchasers can also secure finance options, including a 3.99 per cent two-year variable rate, loan-to-value ratios of up to 90 per cent, and interest-only lending options through EquitiCredit.

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Joel Robinson

Why this Castle Hill apartment building starts with a $7 million advantage

For much of the past few years, conversations about Australia's property market have centred on the rapid growth seen in Sydney, Brisbane, Gold Coast, and Perth. <a href="https://www.apartments.com.au/developments/melbourne-vic-3004">Melbourne</a> has followed a different trajectory.

That relative underperformance is now encouraging some buyers to reassess the city, particularly those willing to look beyond short-term market movements and focus on quality property in established locations, along with the long-term growth prospects of a city expected to overtake Sydney as Australia’s most populous.

John Bekiaris, Research &amp; Market Insights at <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Projects by Equitifund</a>, said Melbourne's current position is attracting increasingly sophisticated purchasers.

"Melbourne continues to present one of Australia's strongest long-term investment stories," Bekiaris says.

"While other capital cities have experienced stronger recent growth, that relative underperformance is exactly what's attracting sophisticated counter-cyclical investors."

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Equitifund isn't just commenting on Melbourne's property market, it's investing in it.

The Sydney-headquartered capital partner has taken over the remaining apartments at <a href="https://www.apartments.com.au/buildings/victoriana-melbourne-20-queens-road-melbourne-vic-3004">Victoriana</a>, the recently completed glass-encased development opposite Albert Park Lake in Melbourne's tightly held St Kilda Road precinct.

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and built by <a href="https://www.apartments.com.au/builders/hickory">Hickory</a>, Victoriana places residents between one of Melbourne's most recognised parklands and the CBD, offering oversized two and three-bedroom apartments aimed at owner-occupiers seeking a genuine alternative to a traditional family home.

The development comprises 232 completed residences alongside a suite of resident amenities, including a 25-metre indoor swimming pool, gymnasium, landscaped entertaining areas, resident lounges, EV charging, secure basement parking and a concierge-style arrival experience.

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The apartments have been designed with owner-occupiers firmly in mind.&nbsp;Open-plan living and dining areas flow onto generous balconies framing views across Albert Park Lake, Fawkner Park, the Royal Botanic Gardens and the Melbourne skyline.

Kitchens feature Gaggenau appliances, stone benchtops and generous preparation space. Bedrooms include built-in robes, while bathrooms feature full-height textured tiling. Hardwood flooring and ducted air conditioning complete residences designed for long-term living.

Rothelowman's architecture takes its cues from the landscape opposite the site. Sweeping horizontal glazing references the movement of Albert Park Lake, while generous balconies and expansive glazing strengthen the connection between the apartments and the surrounding parklands. The result is a building designed to deliver the scale and amenity expected of luxury apartment living, while offering the larger floorplans increasingly sought by owner-occupiers.

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The location is one of Victoriana's defining characteristics. Positioned on Queens Road, residents are directly opposite Albert Park Lake and within easy reach of Fawkner Park, the Royal Botanic Gardens, South Melbourne, St Kilda Road and the CBD. With few comparable development opportunities remaining in the precinct, buyers are increasingly placing value on outlooks that are unlikely to be interrupted by future construction.

Greg Huxley, Founder of Equitifund, believes those qualities become even more valuable over time.

"Premium real estate has always rewarded buyers who take a long-term view," Huxley said.

"Victoriana represents the kind of asset that's increasingly difficult to recreate today, particularly in an established location like Queens Road."

He said rising construction costs are also changing the way buyers assess completed developments.

"When you combine an irreplaceable location with thoughtful architecture and premium finishes, you create something that becomes increasingly difficult to reproduce as construction costs continue to rise."

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According to National Sales Director Ben Hamblett, enquiry has been driven largely by Melbourne downsizers and buyers upgrading from smaller apartments.

"Interest in Victoriana continues to build, with strong buyer focus on the larger owner-occupier residences within the development," Hamblett says.

"Enquiry is increasingly driven by local buyers who recognise the rarity of what's on offer: park-facing apartments in an established neighbourhood where new development opportunities are becoming increasingly scarce. At Victoriana, the view is not just a feature; it's an appreciating asset in its own right."

He said interstate enquiry has also strengthened as buyers reassess Melbourne's position within the national property cycle.

"Melbourne currently stands as the most compelling entry point of any major Australian capital, and discerning buyers are beginning to recognise what those who move early always understand: the best opportunities are taken before the price rise confirms them."

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Why now is the time to buy in Melbourne's premium apartment market

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.

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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."

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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

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.

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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.

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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>.

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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.

[smartcode_project:default project_id=134951 project_image_fid=368645]

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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Staff reporter

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