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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.
<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/Sea3.jpg" alt="">
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

A mix of Gold Coast locals, fly-in, fly-out purchasers from Sydney and Melbourne, and Brisbane-based families has driven early sales success at Broadbeach's newest apartment tower, Lumara.

The 26-level project, a joint venture between builder-developer 5Point Projects and Bourke Projects, comprises just 37 luxury residences and is attracting a buyer profile that is looking for exclusivity, above the most amenity-rich suburb on the Gold Coast.

[smartcode_project:default project_id=150454 project_image_fid=364156]

Jamie Bourke, Director of Bourke Projects, says every buyer secured so far intends to use Lumara as a lock-up-and-leave residence, combining holiday use with the ability to work remotely when required.

“The size of the apartments, both half- and full-floor options, and the different zones within the floorplans, lends itself perfectly to dedicated home office setups and multi-generational family holidays,” Bourke says.

That flexibility has become a key drawcard for affluent buyers seeking a second residence on the Gold Coast without sacrificing the ability to conduct business away from their primary home base.

The absence of holiday letting within the building has also resonated strongly with purchasers.

“This type of buyer doesn't need to generate holiday rental income,” Bourke says. “They're paying for exclusivity, privacy and certainty around who their neighbours are.”

[smartcode_project:default project_id=150454 project_image_fid=366491]

The strong demand comes amid broader shifts in the high-end apartment market following the Federal Budget announcements in May.

“We were already seeing strong enquiry from high-net-worth buyers, but that has only accelerated since the policy changes,” Bourke says.

“A lot of those buyers are looking to place more capital into premium lifestyle assets rather than investment-grade stock that has been targeted by the Federal Government.”

[smartcode_project:default project_id=150454 project_image_fid=366486]

Designed by Cottee Parker, Lumara adopts a slender, sculpted form with an emphasis on natural materials suited to its beachfront setting. The architectural approach draws on coastal influences, with a palette of stone, timber and concrete selected for durability and the ability to weather over time.

Apartments are limited to three and four-bedroom configurations, with a maximum of two residences per floor through the mid-levels and a selection of full-floor and dual-level homes in the upper levels. All apartments are oriented to the north to maximise natural light, cross-ventilation and views across the ocean, city skyline and hinterland.

A two-level amenity offering is positioned high within the building on levels 20 and 21, conceived as a sky wellness retreat. Facilities include a magnesium pool, spa, sauna and steam rooms, alongside more social spaces such as a private dining room, resident lounge, workspaces and outdoor barbecue areas integrated with landscaped greenery.

The uppermost levels are reserved for larger-format residences, including several full-floor homes and a dual-level penthouse with its own private wellness features and recreational spaces.

&nbsp;

To give buyers confidence, 5Point and Bourke commenced construction ahead of the apartments launching to the market, a sure-fire way to prove they mean business, and the building will be delivered. They are targeting a 2028 completion date.

[smartcode_project_cta:default project_id=150454]

Joel Robinson

Locals, interstate holiday makers, drive early sales at Lumara, Broadbeach's newest luxury apartment tower

Often when it comes to purchasing property, the biggest barrier to entry is the deposit. Buyers of established homes typically aim for a 20 per cent deposit to avoid the added cost of Lenders Mortgage Insurance, while most property transactions require around a 10 per cent deposit when contracts are exchanged.

The off-the-plan market works differently, with buyers typically paying a deposit during construction and settling the balance upon completion. As completion approaches at <a href="https://www.apartments.com.au/new-apartments/fabbrica-fitzroy-369-gore-street-fitzroy-vic-3065">Fabbrica Fitzroy</a>, developer <a href="https://www.apartments.com.au/developers/pace-development-group">Pace</a> is making it easier for buyers to secure a residence through a deposit-matching incentive. Purchasers need only contribute a five per cent deposit*, with Pace matching the remaining five per cent.

The offer comes as Pace unveils a completed display apartment and townhouse, now available for inspection by appointment ahead of the project's Spring completion.

[smartcode_project:default project_id=139552 project_image_fid=371009]

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/winwood-mckenzie-architecture">Winwood Mckenzie</a> and landscaping by <a href="https://www.apartments.com.au/landscape-architect/acre">Acre</a>, Fabbrica draws on Fitzroy’s industrial and manufacturing history, incorporating references to the former Argyle Shirt Factory and Life Savers Confectionery Company that once occupied the site.

The development comprises 85 residences, spanning low-maintenance apartments through to larger-format townhouses with private street access and double lock-up garages, a relatively uncommon offering in Fitzroy’s higher-density apartment market.

Pace says the project has been designed to appeal to buyers seeking inner-city convenience without sacrificing space, flexibility, or amenity.

[smartcode_project:default project_id=139552 project_image_fid=371016]

Inside the residences, Winwood Mckenzie has focused on adaptable layouts and integrated detailing, with features including custom joinery, and concealed storage solutions. The material palette leans into warm, tactile finishes intended to complement the building’s industrial architectural language.

Fabbrica’s rooftop amenity is a key part of the project offering. Spanning around 800 sqm, the communal rooftop includes a private dining room, communal kitchen, lounge spaces, work-from-home zones, and outdoor dining areas overlooking the Melbourne CBD skyline.

[smartcode_project:default project_id=139552 project_image_fid=371017]

Landscape architecture studio Acre has introduced a layered rooftop garden designed to soften the urban setting while creating a more communal environment for residents.

The Fitzroy location also positions residents within walking distance of Brunswick Street, Smith Street, parks, cafés, galleries, and public transport, while remaining only minutes from Melbourne’s CBD. The project has an enviable Walk Score of 96.

[smartcode_project:default project_id=139552 project_image_fid=371025]

Pace, which is also delivering the project as builder, has developed more than 100 projects across Melbourne over the past three decades. The vertically integrated approach has become increasingly common among developers seeking greater control over construction delivery amid broader market pressures affecting the apartment sector.

The strikingly contemporary Gore Street development is now around 70 per cent complete, with purchasers expected to move into their new homes in Spring 2026. A limited number of residences remain available under the current deposit match offer.

*Conditions apply in relation to the deposit match offer.

[smartcode_project_cta:default project_id=139552]

Pace offers five per cent deposit match at Fabbrica Fitzroy ahead of Spring completion

Sydney developer Hyecorp's roots on the Lower North Shore stretch back three generations, and that deep understanding of the market continues to shape where and how it develops today.

From high-rise towers to boutique apartment projects, the family-run developer has built its reputation by focusing on a part of Sydney it knows intimately. Founded by Michael Abolakian in the early 1990s, Hyecorp is now led by his sons Stephen, Troy and Patrick.

Stephen Abolakian, joint managing director alongside Troy, has spent more than two decades in the business, overseeing development, planning, finance, marketing and sales.

Abolakian says the developer's disciplined focus on where it chooses to operate has been, and continues to be, one of Hyecorp's greatest strengths.

“We know the buyer profile exceptionally well,” Abolakian says.

“The demographics between places like Willoughby, Chatswood, St Leonards and Roseville are very similar. There are nuances between suburbs and projects, but culturally and from a buyer perspective, there’s a strong overlap.”

That buyer has historically been overwhelmingly owner-occupier driven.

Unlike many Sydney apartment developers that have traditionally relied heavily on investor demand, Hyecorp’s projects have typically attracted downsizers, upsizers, rightsizers and family owner-occupiers seeking long-term homes rather than short-term investments.

“Historically, investors have been a much smaller portion of our demand profile,” Abolakian says.

“We design for owner-occupiers. We don’t design for yield, we design for comfort, amenity, family living and long-term usability.”

That philosophy extends well beyond apartment layouts.

From landscaping and communal gardens to shared amenities and circulation spaces, Hyecorp’s developments are designed around how people actually live, something Abolakian believes has become increasingly important in Sydney’s apartment market.

“There was probably a period where having an approved project in market was enough,” he says.

“There wasn’t as much competition and if you built it, buyers would come. That’s no longer the case.”

“There’s more supply in the pipeline now, particularly with TOD precincts and low and mid-rise reforms opening up opportunities across Sydney. Buyers have more choice, so if you get the product wrong, they’ll simply go elsewhere.”

[smartcode_project:default project_id=110379 project_image_fid=311393]

The shift has forced developers to become more sophisticated in how they approach apartment design, particularly as owner-occupier expectations continue to rise.

For Hyecorp, that means thinking beyond who the buyer is today and designing for who they may become in five or 10 years' time.

“People buying now often aren’t moving in for several years,” Abolakian says.

“You might have a young couple buying today, but by the time they move in they may have children, older children, or changing lifestyle needs. You’ve got to think about how families evolve.”

That thinking also shapes Hyecorp’s approach to amenity, which positions wellness at the forefront.

[smartcode_project:default project_id=149594 project_image_fid=362634]

While resort-style facilities have become increasingly common marketing tools across Sydney apartment developments, Abolakian says the challenge is ensuring amenities are genuinely usable and appropriate for the scale of the project.

“If amenities are done right, they can materially improve the living experience,” he says, adding however that if you&nbsp;overdo it or get it wrong, you can end up with facilities nobody uses that simply create ongoing strata costs.”

That balance is something Hyecorp is aiming to strike with projects like Roseville Avenue, one of the group's upcoming Lower North Shore developments, which Abolakian describes as bringing a resort-style living experience into a metropolitan setting.

“It’s about creating something that feels special without being excessive,” he says.

“Good gardens, quality apartments, thoughtful amenity. Creating that resort feeling in a metro location.”

<img alt="Hyecorp" data-entity-type="file" data-entity-uuid="13c4c0f3-b1b7-44cf-9344-0b3d1d07797a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-02%20at%2012.14.57%E2%80%AFPM.png?VersionId=9OLWjyj2bYkDV35F78WJnyMSPfc2bJ2z" />

The focus on owner-occupier product comes as Sydney’s apartment market continues to navigate a difficult development environment.&nbsp;For Hyecorp, maintaining an in-house operating model across construction, sales, marketing and development management has become increasingly important in navigating that environment.

“We’ve always believed in keeping a lot of the process in-house,” Abolakian says.

“It creates efficiencies, but it also creates quality control. You can make faster decisions and ensure the end product stays aligned with the original vision.”

Despite the challenges, Abolakian believes demand for quality owner-occupier apartments across Sydney remains strong beneath the surface, particularly across established Lower North Shore suburbs where downsizers continue to seek new housing options close to existing communities.

“There are definitely people waiting,” he says.

“Once some of the broader uncertainty settles, whether that’s the global environment or some of the local economic noise, I think the right projects will perform very strongly.”

Hyecorp currently has three residential developments on the market across Sydney’s Lower North Shore.&nbsp;Audrey, St Leonards, positioned opposite Newlands Park, is nearing completion and preparing to welcome its first residents, with the project now almost sold out.

Hyecorp has also recently launched&nbsp;<a href="https://www.apartments.com.au/new-apartments/celine-chatswood-37-archer-street-chatswood-nsw-2067">Celine Chatswood</a>, an architectural tower, while continuing to deliver&nbsp;<a href="https://www.apartments.com.au/new-apartments/juliet-roseville-64-pacific-highway-roseville-nsw-2069">Juliet Roseville</a>, a more boutique scale of development with just 34 apartments.

Why Hyecorp continues to back Sydney's Lower North Shore apartment market

South East Queensland’s apartment market is entering a new phase defined by rising prices, constrained affordability, and mounting pressure on the construction pipeline, according to RPM Group’s latest SEQ Apartments &amp; Townhomes Market Report.

The May 2026 report highlights a widening divide between what buyers can afford and what developers can viably deliver, with detached house prices continuing to push more buyers toward apartments across Brisbane, the Gold Coast, and the Sunshine Coast.

RPM says Brisbane’s median house price has reached around $1.5 million, accelerating the shift toward higher-density housing as buyers are increasingly priced out of the detached market.

[smartcode_project:default project_id=135094 project_image_fid=356540]

Median unit prices rose across all three major SEQ markets in the March quarter. Brisbane City recorded the strongest annual growth, with median unit prices climbing 21 per cent to $862,000, while the Gold Coast reached the highest overall median at $950,000, up 17 per cent year-on-year. The Sunshine Coast followed at $870,000, representing annual growth of nine per cent.

RPM noted the affordability gap between houses and units remains significant, with detached homes commanding premiums of 67 per cent in Brisbane and 68 per cent on the Gold Coast relative to apartments.

The report suggests this price disparity is increasingly consolidating buyer demand within the apartment market, particularly among downsizers and owner-occupiers.

“Demand is real. Supply is moving. But they’re operating on different timelines and the gap between what’s being built and what buyers can afford is the defining tension in this market right now,” RPM Queensland and NSW Managing Directors Peter Neale and Clinton Trezise said in the report.

[smartcode_project:default project_id=150787 project_image_fid=366230]

While approvals and commencements are strengthening, RPM argues the delivery pipeline remains constrained by construction costs, labour shortages, and extended build timelines.

Apartment approvals across Queensland increased 86 per cent over the year to February 2026, reaching 12,682 approvals, the highest level recorded since 2016. Brisbane overtook the Gold Coast as the state’s most active apartment approval market, with nearly 5,000 apartments approved over the past 12 months.

Unit commencements also strengthened considerably, rising 48 per cent year-on-year to 5,453 commencements in the December 2025 quarter, the highest level since 2018.

However, RPM’s research found apartment delivery timeframes have expanded sharply compared to the previous cycle. Projects are now averaging around 30 months from approval to completion, compared to roughly 20 months a decade ago.

[smartcode_project:default project_id=143932 project_image_fid=367515]

The number of units under construction has climbed to approximately 31,530 dwellings, nearing the previous 2016 peak, though projects are remaining in the pipeline for considerably longer.

Construction costs continue to weigh heavily on feasibility. RPM found the average apartment construction cost in Greater Brisbane reached $630,000 per dwelling in 2025, exceeding both Sydney and Melbourne. Coastal Queensland markets, including the Gold Coast and Sunshine Coast, were even higher at an average of $817,418 per apartment due to the prevalence of larger premium product.

The report also points to increasing pressure from Olympic-related infrastructure spending ahead of Brisbane 2032, with labour competition expected to intensify over the next several years.

[smartcode_project:default project_id=150017 project_image_fid=370960]

ANZ Associate Director of Property Daniel Gradwell said the underlying demand drivers across South East Queensland remain strong, supported by interstate migration, downsizers, and population growth.

“The challenge is bringing enough supply to market to meet that demand, and nothing on the horizon makes that straightforward,” Gradwell said.

RPM’s analysis found the affordability challenge is becoming more pronounced in the new apartment market itself, with only three per cent of surveyed new apartments priced below $1 million.

Instead, the market is increasingly concentrated in higher price brackets, with the most common new apartment price band across SEQ sitting between $1.5 million and $1.75 million. Around half of all new apartment stock surveyed is priced below $2 million.

The report suggests developers are not necessarily avoiding lower price points by choice, but because current construction economics make delivering affordable apartments increasingly difficult at scale.

Rental conditions also remain tight across the region. Median rents for one-bedroom apartments rose 12 per cent in Brisbane over the past year to $580 per week, while Gold Coast one-bedroom rents increased nine per cent to $630.

Despite rising rents, RPM noted bond lodgements have generally trended downward over the past five years, indicating more apartments are being absorbed by owner-occupiers rather than retained as investor-held rental stock.

Looking ahead, RPM expects projects targeting the mid-market owner-occupier segment between $1.25 million and $2 million to remain the most viable part of the market, while premium projects in highly constrained coastal or riverfront locations continue to attract demand.

“Construction costs are rewriting the feasibility rulebook across Greater Brisbane, and with little relief in sight, only projects in the right price band, right location, and with presales secured early will make it through,” the report concludes.

SEQ apartment demand outpacing affordable supply as construction timelines stretch: RPM

Camberwell Junction has long been the epicentre of amenity in Melbourne’s Boroondara region.

For nearly a century, it has drawn both locals and visitors, anchored by the Camberwell Sunday Market, which first operated in 1929 and quickly became a fixture of the suburb’s identity. Over time, the Junction evolved into one of Melbourne’s most established retail and lifestyle precincts, now comprising more than 400 stores and over 300 commercial businesses.

Despite that depth of amenity, one thing has remained notably limited: the supply of new apartments.

In a suburb defined by its heritage streetscapes and tightly held residential stock, new development opportunities have been scarce, particularly within the core of the Junction itself. That lack of supply has left a gap in the market for larger, design-led apartments suited to downsizers and owner-occupiers wanting to remain in the area.

Boutique developer Above Zero identified that gap when it secured a prime site on Burke Road, in the heart of Camberwell Junction.

[smartcode_project:default project_id=4896 project_image_fid=368543]

The site has a long planning history. Various proposals have been put forward over more than a decade, many of which were knocked back by the City of Boroondara, with initial applications dating back to 2015. Above Zero acquired the site in 2022 and returned with a revised scheme, refining both the building’s height and its ground-level interface to better align with Council expectations.

That process has culminated in approval for Camberwell House.

The Cera Stribley-designed development will deliver 57 residences on a 1,950 sqm site within the Camberwell Activity Centre, placing it directly within one of Melbourne’s most established retail and transport hubs.

It is expected to be one of the only new apartment developments to launch in the Junction in recent years, reinforcing the rarity of new supply in the precinct. Currently, there are just a handful of projects on the market in Camberwell, underscoring the significance of a development of this scale and positioning.

[smartcode_project:default project_id=4896 project_image_fid=368544]

Camberwell House has been conceived with a clear focus on larger-format apartments. The project will offer a mix of two-, three- and four-bedroom residences, alongside a limited number of penthouses, targeting owner-occupiers seeking scale rather than volume-driven product.

The building’s vertical presence will also set it apart.

Positioned on Burke Road, the development is set to become one of the taller buildings in its immediate context, allowing for elevated outlooks across Melbourne’s CBD skyline and toward the Dandenong Ranges. In a precinct characterised by lower-scale built form, that height provides a point of differentiation, particularly for buyers seeking outlook and natural light.

[smartcode_project:default project_id=4896 project_image_fid=368568]

Architecture has been led by Cera Stribley, with interiors by GOLDEN and landscape design by Florian Wild. The design approach centres on material consistency and restraint, with residences oriented to maximise light, ventilation and connection to outdoor spaces.

Full-height glazing and generous terraces form a key part of that strategy, allowing apartments to extend beyond their internal footprint and engage with the surrounding environment.

Beyond the private residences, a significant component of the project is its amenity offering.

Above Zero has positioned Camberwell House as a “complete living environment”, incorporating a full floor dedicated to resident facilities. At the centre of that is a wellness zone, including a 12.5-metre lap pool, spa, sauna and treatment spaces, alongside a gym and recovery-focused amenities.

This level of amenity is more commonly associated with inner-city developments, rather than established middle-ring suburbs like Camberwell.

[smartcode_project:default project_id=4896 project_image_fid=368588]

Additional shared spaces include a private library lounge, dining and entertaining areas, and an indoor golf simulator. A self-contained guest suite has also been incorporated, allowing residents to accommodate visiting family or friends without impacting their primary living space.

The inclusion of these facilities reflects a broader shift in buyer expectations.

As more downsizers look to transition from larger family homes into apartments, there is increasing demand for developments that offer not just a residence, but a lifestyle. That includes access to wellness, social and entertaining spaces within the building itself, reducing the reliance on external amenity while still maintaining proximity to established precincts.

Camberwell House is positioned to benefit from both.

Its location places it within immediate walking distance of Camberwell Junction’s retail and dining offering, as well as public transport connections, including tram and train services. That combination of internal amenity and external convenience is central to its appeal.

<section data-scroll-anchor="false" data-testid="conversation-turn-150" data-turn="assistant" data-turn-id="request-WEB:55d7c6ac-8e6d-4881-ad49-0ed9bf66d1cc-74" dir="auto">
Jellis Craig Projects Director Stephen Bowtell is handling sales for the project and says Camberwell House offers a rare entry point into one of Melbourne’s most tightly held markets.

“Buyers are recognising that Camberwell House offers something they simply haven’t seen before in Boroondara,”&nbsp;Bowtell&nbsp;says.

“It combines a level of resident amenity and service typically associated with Melbourne’s premium inner-city developments, while being positioned right in the heart of Camberwell Junction.

“The response to the concierge offering has been particularly strong. Buyers appreciate not only the convenience, but also the sense of security and peace of mind that comes from having a dedicated presence in the building every day.

“When you combine that with the wellness facilities, the exceptional arrival experience, and panoramic views across both the CBD skyline and the Dandenong Ranges, it creates a lifestyle proposition that is genuinely unique within the local market.”
</section>

[smartcode_project_cta:default project_id=4896]

Staff reporter

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