<html><body>
<div class="subscribe-truncate">
<div class="assets">
<p>A Hamptons-style property at Shell Cove has set a sale price record for the suburb. </p>
</div>
</div>
<div>
<div class="assets">
<p>The home at <a href="https://m.realestate.com.au/sold/property-house-nsw-shell+cove-130485474" target="_blank">12 Red Sands Avenue</a> sold for $1.9 million.</p>
<div class="teads-adCall">The six-bedroom, three-bathroom house, located opposite parklands, was completed three years ago. </div>
<div class="teads-adCall"><span> </span></div>
<div class="teads-adCall"><span>Designed for a culinary artist, the open-plan gourmet kitchen and separate butlers kitchen with servery boasts stunning Calacatta Nuvo bench tops, ample storage options with soft close draws and integrated Smeg appliances.</span></div>
</div>
</div>
<div>
<div class="assets">
<p>The property had been on the market for more than a year until its purchase by a local buyer. </p>
<p><span>The previous price record was $1,885,000 set in 2019.</span></p>
</div>
</div>
</body></html>

j.ballantyne1990-6AQqhLzZaK

12 Red Sands Avenue, Shell Cove sold for $1.9 million

<html><body>
<p class="_1HzXw">An almond orchard in the New South Wales Riverina has been sold for $98 million to a foreign investment group.</p>
<h2 class="_3mduI _2gTdF _1deB8 jwLlj _1O6ck _1GKnS _2o9MN _1-RZJ" data-component="Heading"><span style="font-family: Tahoma, Helvetica, Arial, sans-serif; font-size: 12.15999984741211px;">The property is 3,841 hectares, which reflects $25,514 per hectare.</span></h2>
<h2 class="_3mduI _2gTdF _1deB8 jwLlj _1O6ck _1GKnS _2o9MN _1-RZJ" data-component="Heading"><span style="font-family: Tahoma, Helvetica, Arial, sans-serif; font-size: 12.15999984741211px;">The sale is conditional on Foreign Investment Review Board approval.</span></h2>
<p><span style="font-family: Tahoma, Helvetica, Arial, sans-serif; font-size: 12.15999984741211px;"><span>Mooral</span><span> is located 25 km south west of Hillston.</span></span></p>
<p class="_1HzXw">Mooral was sold by ASX-listed investment trust Rural Funds Group which told the ASX in a statement that "contracts have been exchange for the sale of the Mooral almond orchard for $98 million (subject to various adjustments and inclusions) with a global agriculture and timberland investment manager as nominee for a special purpose vehicle that will be owned by pension funds and institutional investors."</p>
<p class="_1HzXw">It further stated, "it was conditional on completion of due diligence (within 45 days but subject to possible extension) and Foreign Investment Review Board approval". </p>
<p class="_1HzXw">It is understood the property has been sold to a North American investment group, Hancock Agricultural Investment Group.<span><br></span></p>
<p class="_1HzXw">The 3,841-hectare horticultural property, Mooral, features 808ha of productive almond trees which were planted in 2006 and 2007.</p>
<p class="_1HzXw">It was the water entitlements that boosted the property's value.</p>
<p class="_1HzXw">Mooral has 9 kilometres of frontage to the Lachlan River, and water entitlements including 10,305 megalitres of Lower Lachlan groundwater (of which 3,225ML is subject to a lease), 470ML of Lachlan River regulated high-security water and 1,443ML of Lachlan River regulated general security surface water.</p>
<p class="_1HzXw"><span>The Australian almond industry is now Australia’s most valuable horticultural export industry.  </span></p>
<p class="_1HzXw"><span>The Australian Almond Board reported an increase in export sales of 19% to $740 million over the 2015 marketing year, with Australian almonds sold to 50 countries and India comprising close to $200 million in sales.  </span></p>
<p class="_1HzXw"><span>World almond demand has now surpassed production, and according to the Australian Almond Board, sales volumes are constrained by the availability of almonds.  </span></p>
</body></html>

Hillston almond farm sells for $98m to American investors

<html><body>
<p class="css-3fa3ul-StyledParagraph enqfv0t0">Developer Luke Saraceni has failed in his damages claim against the Commonwealth Bank over the handling of finances for the Raine Square tower.</p>
<p class="css-3fa3ul-StyledParagraph enqfv0t0">Justice Paul Tottle ruled that the bank had acted within the terms of the financial agreement between the parties.</p>
<p>Saraceni’s now-liquidated Westgem Investments and his private investment partner Henri Pourzand, had claimed Bankwest and parent company CBA had engaged in unfair and unconscionable conduct.</p>
<p class="css-3fa3ul-StyledParagraph enqfv0t0">His barrister Robert Newlinds claimed that the conduct led to extra and unnecessary costs.</p>
<p class="css-3fa3ul-StyledParagraph enqfv0t0">Justice Tottle ruled CBA had succeeded in part of its counterclaim, except in relation to a Vasse Newtown development, The West reported.</p>
<p class="css-3fa3ul-StyledParagraph enqfv0t0">The ruling is the latest chapter in a saga that dates back to 2008 regarding the $450 million Raine Square.</p>
<p class="css-3fa3ul-StyledParagraph enqfv0t0">The bank appointed receivers KordaMentha to Westgem in January 2011 after it missed a $50 million payment.</p>
<p class="css-3fa3ul-StyledParagraph enqfv0t0">Bankwest foreclosed on his $16 million Mosman Park mansion and other assets.</p>
<p class="css-3fa3ul-StyledParagraph enqfv0t0">KordaMentha sold the Raine Square property to Charter Hall for $458 million in 2013.</p>
</body></html>

Saraceni loses battle with Bankwest/CBA over Raine Square damages

<html><body>
<div class="css-1dbjc4n">
<div id="tweet-text" class="css-901oao r-hkyrab r-1qd0xha r-a023e6 r-16dba41 r-ad9z0x r-bcqeeo r-bnwqim r-qvutc0" lang="en" dir="auto">
<p>Sarah and George are favourites at $2.50 to win The Block at Brighton in 2020.</p>
<p>George is an electrician while his wife Sarah is a high school teacher.</p>
<p>Western Australian’s Luke and Jasmine are second favourites at $3.25 on sportsbet.</p>
<p>Jimmy and Tam have drifted from $2.75 out to $4. Jimmy was a CrossFit champion for several years and met his wife Tam after training her at the gym.</p>
<p>Daniel and Jade are $6 with Harry and Tash at $7.50. </p>
<p>Over at<em> Ladbrokes the </em> Queensland couple Jimmy and Tam have been installed as the $3.00 favourites to with The Block: Brighton.</p>
<div>The Brisbane-based plumber and bar manager head the betting at $3.00 with Ladbrokes after the opening episodes of the show.</div>
<div> </div>
<div>Sarah and George sit on the second line of betting at $3.25.</div>
<div> </div>
<div>Perth-based married couple Luke and Jasmin, a chippy and teacher, are third favourites at $4.50, ahead of South Australia husband and wife Daniel and Jade ($5.00), who are a farmer and hairdresser by day.</div>
<div> </div>
<div>Melbourne father and daughter Harry and Tash combination are the outsiders with the IT manager and social media project manager sitting on $5.50 odds.</div>
<div> </div>
Jimmy and Tam have the most followers on Instragram at 4500.</div>
<div class="css-901oao r-hkyrab r-1qd0xha r-a023e6 r-16dba41 r-ad9z0x r-bcqeeo r-bnwqim r-qvutc0" lang="en" dir="auto"> </div>
<div class="css-901oao r-hkyrab r-1qd0xha r-a023e6 r-16dba41 r-ad9z0x r-bcqeeo r-bnwqim r-qvutc0" lang="en" dir="auto"><a class="r-1n1174f r-1loqt21 r-1qd0xha r-ad9z0x r-bcqeeo r-qvutc0 css-4rbku5 css-18t94o4 css-901oao css-16my406" href="https://t.co/Fx8uELrLR8?amp=1" target="_blank" title="http://Instagram.com/DanielAndJade" rel=" noopener noreferrer" data-focusable="true"><span class="css-901oao css-16my406 r-1qd0xha r-hiw28u r-ad9z0x r-bcqeeo r-qvutc0">http://</span>Instagram.com/DanielAndJade</a></div>
<div class="css-901oao r-hkyrab r-1qd0xha r-a023e6 r-16dba41 r-ad9z0x r-bcqeeo r-bnwqim r-qvutc0" lang="en" dir="auto"><a class="r-1n1174f r-1loqt21 r-1qd0xha r-ad9z0x r-bcqeeo r-qvutc0 css-4rbku5 css-18t94o4 css-901oao css-16my406" href="https://t.co/uZwct2fTEf?amp=1" target="_blank" title="http://Instagram.com/HarryAndTash" rel=" noopener noreferrer" data-focusable="true"><span class="css-901oao css-16my406 r-1qd0xha r-hiw28u r-ad9z0x r-bcqeeo r-qvutc0">http://</span>Instagram.com/HarryAndTash</a></div>
<div class="css-901oao r-hkyrab r-1qd0xha r-a023e6 r-16dba41 r-ad9z0x r-bcqeeo r-bnwqim r-qvutc0" lang="en" dir="auto"><a class="r-1n1174f r-1loqt21 r-1qd0xha r-ad9z0x r-bcqeeo r-qvutc0 css-4rbku5 css-18t94o4 css-901oao css-16my406" href="https://t.co/nR8R2QY96E?amp=1" target="_blank" title="http://Instagram.com/JimmyAndTam" rel=" noopener noreferrer" data-focusable="true"><span class="css-901oao css-16my406 r-1qd0xha r-hiw28u r-ad9z0x r-bcqeeo r-qvutc0">http://</span>Instagram.com/JimmyAndTam</a></div>
<div class="css-901oao r-hkyrab r-1qd0xha r-a023e6 r-16dba41 r-ad9z0x r-bcqeeo r-bnwqim r-qvutc0" lang="en" dir="auto"><a class="r-1n1174f r-1loqt21 r-1qd0xha r-ad9z0x r-bcqeeo r-qvutc0 css-4rbku5 css-18t94o4 css-901oao css-16my406" href="https://t.co/ejdJJJdEz6?amp=1" target="_blank" title="http://Instagram.com/LukeAndJasmin" rel=" noopener noreferrer" data-focusable="true"><span class="css-901oao css-16my406 r-1qd0xha r-hiw28u r-ad9z0x r-bcqeeo r-qvutc0">http://</span>Instagram.com/LukeAndJasmin</a></div>
<div class="css-901oao r-hkyrab r-1qd0xha r-a023e6 r-16dba41 r-ad9z0x r-bcqeeo r-bnwqim r-qvutc0" lang="en" dir="auto"><a class="r-1n1174f r-1loqt21 r-1qd0xha r-ad9z0x r-bcqeeo r-qvutc0 css-4rbku5 css-18t94o4 css-901oao css-16my406" href="https://t.co/5hKdAviZnX?amp=1" target="_blank" title="http://Instagram.com/SarahAndGeorgeBLOCK" rel=" noopener noreferrer" data-focusable="true"><span class="css-901oao css-16my406 r-1qd0xha r-hiw28u r-ad9z0x r-bcqeeo r-qvutc0">http://</span>Instagram.com/SarahAndGeorge<span class="css-901oao css-16my406 r-1qd0xha r-hiw28u r-ad9z0x r-bcqeeo r-qvutc0">BLOCK</span><span class="css-901oao css-16my406 r-1qd0xha r-ad9z0x r-bcqeeo r-lrvibr r-qvutc0">…</span></a></div>
</div>
<div class="css-1dbjc4n">
<div id="tweet-rich-content-label" class="css-1dbjc4n">
<div class="css-1dbjc4n r-1udh08x">
<div class="css-1dbjc4n r-9x6qib r-1ylenci r-1phboty r-rs99b7 r-156q2ks r-1udh08x">
<div class="css-1dbjc4n">
<div class="css-1dbjc4n r-1adg3ll r-1udh08x"> </div>
</div>
</div>
</div>
</div>
</div>
</body></html>

Sarah and George set to win The Block Brighton 2020

<html><body>
<p><span>The Block</span> has opened casting for 2021.</p>

<p>Couples must be aged between 18-65, energetic and with a sense of humour and available for a 10-12 week shoot period from late February, 2021.</p>

<p>Exact dates and its location are yet to be confirmed.</p>

<p>But first round couples will be reduced to final participants in the first week of filming.</p>

<p>[smartcode_project:default project_id=25281]</p>

<p>The deadline is 27th September 2020. Contestants will not be able to work during the shoot period.</p>

<p>Previous home renovation experience is an asset, but not required from both partners.</p>

<p>Successful participants will be paid a nominal weekly fee during filming of The Block to cover basic living costs and expenses.</p>

<p><span>Out of a 45,000 </span><span>entries</span><span>, ten </span><span>contestants</span><span> were selected for The </span><span>Block</span><span> 2019.</span></p>

<p>It will be the 17th season with <a href="https://www.castasugar.com/casting-now/block2021" target="_blank">applications being taken here</a>.</p>

<p>Filming of the current 16th season was interrupted by the pandemic.</p>

<p>The contestants left the site for their homes across Australia a month into production.</p>

<p>The contestants started production of the 2020 series in late February.</p>

<p><strong>Harry (57) and Tash (32)</strong> — The first father and daughter renovation duo, an IT manager and a social media project manager from Melbourne.</p>

<p><strong>Sarah (27) and George (33)</strong> — Teacher and electrician from Sydney.</p>

<p><strong>Daniel (35) and Jade (34)</strong> — Farmer and hairdresser from Wandearah in South Australia.</p>

<p><strong>Luke (35) and Jasmin (36)</strong> — Chippy and teacher from Perth.</p>

<p><strong>Jimmy (33)</strong> <strong>and Tam (31)</strong> — Plumber and bar manager from Brisbane.</p>

<p>More than a third of the season had been shot.</p>

<p>Nine's production company spent $14.96 million on the 2,770 sqm site of the demolished former Andrina Private Nursing home just off Brighton's Golden Mile. </p>

<p>It was bought from Nick Williams, son of horse trainer Lloyd Williams.</p>

<p>Williams had plans for 13 townhouses on the block.</p>

<p>[smartcode_project:default project_id=3730]</p>

<p>The series' five houses are tipped to fetch $3.5 million plus.</p>

<p>Scott Cam and <span>co-host Shelley Craft returned to the latest series, along with judges Neale Whitaker, Shaynna Blaze and Darren Palmer, foreman Keith Schleiger and his right-hand man (and former Blockhead), Dan Reilly.</span></p>

<p> </p>

<p> </p>

<div class="unruly_in_article_placement" data-unruly-ad-type="horizontal"> </div>

<p> </p>

<p><span> </span></p>
</body></html>

Applications for The Block 2021 are open

<html><body>
<p>Matt and Kim’s apartment on <em>The Block Sky High </em>has resold for $1.9 million.</p>
<p class="sc-qPVvu VgtSJ sc-qQKPx hgnyrg">The apartment was transformed on the Sky High series by Matt and Kim Di Costa.</p>
<p class="sc-qPVvu VgtSJ sc-qQKPx hgnyrg">It hit the market for the second time since the 2013 show wrapped.</p>
<p class="sc-qPVvu VgtSJ sc-qQKPx hgnyrg">The three-bedroom pad at <a href="https://www.realestate.com.au/sold/property-apartment-vic-south+melbourne-133393982" target="_blank">201/142 Park St, South Melbourne</a>, had $2 million to $2.2 million price hopes.</p>
<p class="sc-qPVvu VgtSJ sc-qQKPx hgnyrg">The apartment is the only one in the building that has a walk-in cellar.</p>
<p class="sc-qPVvu VgtSJ sc-qQKPx hgnyrg">It also has the most bathrooms.</p>
<p class="sc-qPVvu VgtSJ sc-qQKPx hgnyrg">The apartment sold for $1.455 million in season 7 of <em>The Block</em>, with the WA couple placing third and pocketing $250,000 profit. </p>
<p class="sc-qPVvu VgtSJ sc-qQKPx hgnyrg">The pad was raking in up to $1600 a week as a rental before it sold for $1.9 million in October 2017.</p>
<p class="sc-qPVvu VgtSJ sc-qQKPx hgnyrg">It was most recently leased for $1450 a week in early 2019. </p>
<p>Matt and Kim listed it on <a href="https://www.realestate.com.au/property-apartment-vic-south+melbourne-114301027" target="_blank">realestate.com.au</a> saying the apartment features “professional craftsmanship, exacting standards and the highest quality of materials, appliances, furniture and finishes together with superlative design to create an opulent home and entertainment paradise.”</p>
</body></html>

Matt and Kim's The Block Sky High South Melbourne apartment resells at disappointing price

<html><body>
<p>BIS Oxford Economics executive chairman Robert Mellor thinks the golden years of property investing may be over.</p>
<p>"I don't think another investor-led housing boom is around the corner and a key reason is investors will be sitting on the sidelines for a while given falling rents and, for now, falling prices," he said.</p>
<p>"For someone who has watched the residential market for 40 years, you know that when building activity drops off, so too does GDP. The relationship is very strong," he told the Australian Financial Review.</p>
<p>He is forecasting a drop in migration of about 60,000 this financial year and another 150,000 next financial year.</p>
<p>With about 2.7 people per household, the forecast drop equates to about 80,000 fewer houses needing to be built.</p>
<p>"These people who are no longer coming impact on the rental market, so it will significantly reduce demand and that will lift vacancy rates and increase risks around residential property," Mr Mellor said.</p>
<p>Mellor says ongoing state border closures will put substantial pressure on apartment demand in the months ahead.</p>
<p>"All our numbers show the apartment sector is moving into significant oversupply because of lower net migration and rising number of people per household," Mr Mellor said.</p>
<p>"Even if migration level stays at around 100,000 over the next couple of years, this is still just half of the normal demand."</p>
<p>Inner-city apartments in particular are likely to be hit, as rentals continue to flood the market even as landlords struggle to find tenants.</p>
</body></html>

Golden years of property investing may be over: Robert Mellor

<html><body>
<p>The supply of new capital city apartments is set to dry up over the next three years as completions plunge.</p>
<p>They are expected to plunge from their present levels in Sydney by 81 per cent and in Melbourne by 75 per cent.</p>
<p>New projects are tipped to be delayed or cancelled because of poor demand following the pandemic slowdown.</p>
<p>The forecasts were made in the <a href="https://charterkc.com.au/research/state-of-the-market/" target="_blank" rel="noopener noreferrer"><em>State of the Market for Residential Apartments</em> report</a> by consultancy firm Charter Keck Cramer.</p>
<p>It also expects a sharp decline in the number of completed apartments in Brisbane, where supply is forecast to slump as much as 90 per cent by 2023.</p>
<p data-gtm-vis-first-on-screen-7770372_137="15827" data-gtm-vis-total-visible-time-7770372_137="1900">Charter Keck Cramer director of residential research and strategy Angie Zigomanis said the expected drop in apartment completions could help stem the slide in apartment prices and rents.</p>
<p>"The apartment market could see a relief from lower supply and starts, which will place upward pressure on rents, yields and prices, and in turn should kick-start off-the-plan demand," Mr Zigomanis said.</p>
<p>"If a quick recovery in net overseas migration to pre-COVID levels occurs, the sharp reduction in new dwelling completions from FY2022 is likely to cause a significant dwelling deficiency to re-emerge.</p>
<div id="endOfArticle" class="_3PsH9">
<p>"However, if net overseas migration inflows and population growth continue to remain weak, then the Melbourne and Sydney apartment markets could be subdued for some time."</p>
<p>The report noted Victoria's recent share of the national total suggested that its net inflow of overseas migrants will fall dramatically from a peak of 91,000 in FY2017, to 11,000 in FY2021.</p>
<p>"On these numbers, the requirement for new dwellings in Melbourne is expected to more than halve from a peak of 57,500 new dwellings in FY2017 to an estimated 27,200 in FY2021."</p>
<p>The supply of new apartments has continued to flow this year through the pandemic, the report noted.</p>
<p>A total of 17,100 apartments were being completed in Melbourne – the third highest on record.</p>
<p>In Sydney, 22,500 apartments were being finished.</p>
<p>It is 5000 in Brisbane.</p>
<p>But the pipeline is diminishing quickly, with project launches and commencement falling sharply.</p>
<p>Only 5300 apartments started marketing in Sydney – an 84 per cent drop from the 2016 high and its lowest level since 2010.</p>
<p>The number of apartments starting construction has tumbled by more than half (57 per cent) to 9200 – the lowest commencements in nine years.</p>
<p>In Melbourne, 12,500 new apartments began construction – a slight increase from a year ago. Only 5600 apartments were being released for sale, which was the lowest number of launches recorded over the past decade.</p>
<p>The time it took to deliver new apartments from launch has blown out as slower sales volumes and more onerous requirements to secure finance has held up projects.</p>
<p>The lag in Sydney has pushed out to an average of 18 months compared to eight months in 2011 and 2016. In Melbourne, the delay widened to an average of 20 months from nine months in 2009.</p>
<p>Historically, larger projects take longer to proceed from launch to construction, however the time frame has converged, highlighting the difficulties in achieving pre-sales and obtaining finance across the board, Mr Zigomanis said.</p>
<p>The report noted the Sydney owner occupier market is holding up, supported by low interest rates, which have improved affordability for those with jobs.</p>
<p>"First home-buyer demand is being encouraged by stamp duty concessions.</p>
<p>"In turn, this is supporting demand for affordable apartments that are suitable for owner occupiers. Both upgraders and downsizes remain active where they are transacting within the same market."</p>
</div>
</body></html>

Price drop to be stemmed as apartment supply set to plunge given COVID-19 pause

<html><body>
<p>The Australian master franchisee for multinational discount retailer Miniso has collapsed into voluntary administration amid the COVID-19 pandemic.</p>
<div>
<div>
<p>Launched in Australia back in 2017, Miniso is headquartered in Guangzhou, China,</p>
<p>It is understood the company suffered from a lockdown decline in foot traffic, and it did not have a very strong e-commerce strategy.</p>
<p>Miniso’s local landlords, including ASX-listed centre owners Scentre Group, GPT Group, Vicinity Centres and Stockland, are not receiving rent payments during the pandemic.</p>
<p>Other creditors, including ANZ Bank, the Australian Taxation Office and parent company Tabata Holdings, are owed more than $6 million combined, with the China-based parent the largest creditor.</p>
<p>Earlier this month an application was granted to the joint and several voluntary administrators of Miniso Master Franchisee Pty Ltd to extend the convening period for its next creditors meeting for a period of six weeks up to and including 21 September 2020.</p>
<p>The first meeting of creditors was held on 23 July 2020.</p>
<p>Miniso operates a hybrid ownership model of business whereby the stores operate through franchisee agreements, joint venture arrangements and stores wholly owned by the Miniso corporate group.</p>
<p>The company purchases and holds stock on behalf of the entities within the Miniso group. The administrators identified 12 group owned stores, 13 franchises, six joint ventures and one wholesale store within the group.</p>
<p>The administrators have, amongst other things, undertaken to continue to trade in order to conserve its value for a potential sale and/or recapitalisation.</p>
The known unsecured creditors of the company, including the landlords, are owed approximately $24.3 million and the secured creditors of the company are owed approximately $132,431.<br><br>A stocktake showed a stock value of $3.8 million.</div>
<div> </div>
<div>The administrators continue to work with a related party that has expressed interest in putting forward a DOCA proposal. </div>
<div>
<p>Miniso Master Franchisee Pty Ltd, the main revenue generating entity associated with its business in Australia, appointed Grant Thornton as administrators in July.</p>
<p>Miniso has 32 trading stores in Australia, however they are not all in administration.</p>
<div>
<div>
<p>“The company entered into voluntary administration generally due to the difficult trading conditions as a result of COVID and consumer trading habits being restrained,” Grant Thornton administrator Philip Campbell-Wilson said in a statement.</p>
</div>
</div>
</div>
</div>
</body></html>

Discount retailer Miniso Australian master franchisee collapses into voluntary administration

<html><body>
<div>
<div>
<div class="standard-header__content">
<div class="nsw-container">
<div class="deck">
<p>The NSW Government has signalled it will ensure there are more transparent fees for retirement village residents through new laws.</p>
<p>They will also seek to ensure that exit entitlements paid more quickly when residents depart their village.</p>
<p>Minister for Better Regulation, Kevin Anderson, said the new reforms will improve access to exit entitlements, create a new mechanism to support residents moving to aged care, and place a 42-day cap on the payment of recurrent charges for general services.</p>
<p>“We promised to make retirement village fees fairer, and these reforms will put residents first, saving them thousands of dollars and giving them access to their exit entitlements sooner when they leave the village,” Mr Anderson said.</p>
</div>
</div>
</div>
</div>
</div>
<div class="nsw-container">
<div class="nsw-grid">
<div class="nsw-col page__main">
<div>
<div class="nsw-wysiwyg-content">
<p>Under the changes, if a unit remains unsold after 6 months in metropolitan areas or 12 months in the regions, residents will be eligible to receive their exit entitlements if the village operator has not taken reasonable steps to facilitate a sale.<br><br>The reforms respond to several key recommendations of the independent report into NSW Retirement Villages conducted by Kathryn Greiner AO, which found residents could wait years for their unit to be sold by the operator before they received their exit entitlements.<br><br>“Waiting extended periods of time to receive your exit entitlement can cause a financial and personal burden. That’s why we’re putting in a safety net that will require operators to buy back the unit from the resident if they don’t use their reasonable endeavours to sell it within the appropriate time period.”<br><br>“We’re also capping recurrent charges, such as office management and gardening fees, at 42 days after a resident moves out.”<br><br>Mr Anderson said the Government is also making it easier for retirement village residents to transition directly into aged care.<br><br>“More than 60 percent of residents transition from villages directly into aged care accommodation. However, under the status quo, many can’t afford these costs if their unit does not sell quickly.”<br><br>“Under the reforms, the operator will need to cover a portion of the estimated exit entitlement directly to the aged care provide, allowing a seamless transfer.”<br><br>Retirement villages currently accommodate over 66,000 retired people, and this number is expected to double by 2033.<br><br>New laws to deliver on the reforms will be introduced into the Parliament later this year.</p>
</div>
</div>
</div>
</div>
</div>
</body></html>

Retirement village residents to get greater fee transparency

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


Joel Robinson

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

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


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

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


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

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


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

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


Staff reporter

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News