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<p>An elevated Edwardian home in Armadale  has sold for $1,682,000. </p>
<p><a href="https://www.realestate.com.au/sold/property-house-vic-armadale-128240014" target="_blank">Located at 25 Clarendon Street</a>, the home on a north-facing block comes with two bedrooms, separate dining, and secure parking.</p>
<p><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/2018/9/28/39045e41bc93489a8d461ab637e5742e.jpg" alt=""></p>
<p>A current offering is a 1910 Edwardian three bedroom house with the indicative selling price between $1.15 million to $1.25 million.</p>
<p>The house at<a href="https://www.realestate.com.au/property-house-vic-armadale-129351614" target="_blank"> 7 Union Street</a>, Armadale (pictured below) comprises of three bedrooms, living with open fireplace, bright kitchen, and sun room.</p>
<p><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/2018/9/17/armadale%202.jpg" alt=""></p>
<p>Other features include the courtyard garden, secure carport parking and high ceilings. </p>
<p>It is close to Armadale Station, Glenferrie Road shops and cafes, and Armadale Reserve. </p>
<p>The suburb's current median house value sits at $2.02 million, some 23% down over 12 months given the stock on offer has not included the typical prestige listings. </p>
<p>There have been 90 or so sales in the past 12 months which is around 20% fewer than in recent years.</p>
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j.ballantyne1990-6AQqhLzZaK

Edwardian home in Armadale sells for $1,682,000

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<p>Melbourne’s newest, masterplanned residential development by EIG Developments, Opalia, was last launched last Saturday.</p>
<p>The debut release, <a href="http://www.opalia.com.au" target="_blank">Eaglevale</a>, had 31 lots ranging in size from 231 square metres to 670 square metres.</p>
<p>EIG Developments’ CEO George Georgiou said that as of four days after release, 95% of lots has sold and that affordability is critical for families.</p>
<p>In launching the development, the City of Melton Mayor, Bob Turner, said that Melton is one of the fastest growing municipalities in Australia.</p>
<p>He said the the area combined urban and rural lifestyles within a comfortable commuting distance of Melbourne.</p>
<p>"Melton Council embraces the opportunity to work collaboratively with developers and, across all levels of government to deliver quality infrastructure and services for our growing community," Turner said.</p>
<p>"Opalia is truly a community where residents can come together, to gain a real sense of belonging and feel they are part of something special."</p>
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Opalia's first release 95% sold out after four days

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<p>EXPERT OBSERVER</p>
<p>Engineering construction work done rose by 2.2 per cent in the June quarter, down by 5.2 per cent from a year ago. A month ago, it was estimated that engineering construction was up by 0.4 per cent in the quarter, but down 7.2 per cent over the year. </p>
<p>Infrastructure boom: Engineering work done for the public sector rose by 2.7 per cent in the June quarter. Over the year to June, a record $37.4 billion of work was done for the public sector. </p>
<p>Work yet to be done: Excluding resources, engineering work yet to be done stands at $43.1 billion, below record highs. But outstanding road and railway work were both just below record highs. And electricity generation, transmission and distribution work was at five-year highs. The data on engineering construction work is important for builders, building material companies, professional services, developers, government businesses and other dependent sectors and industries.</p>
<p><img src="https://www.urban.com.au/images/2018/9/26/CommSec%201.JPG" alt=""></p>
<p><strong>What does it all mean? </strong></p>
<p>The infrastructure boom continues on Australia’s eastern seaboard. Strong population growth and government spending are supporting a gargantuan pipeline of building activity in Victoria, New South Wales and Queensland. </p>
<p>In fact, construction work done in Victoria is at record highs, the highest in New South Wales in five years and at the strongest level since December 2015 in Queensland. While activity is largely concentrated on public transportrelated rail, road and airport projects, work done on much-needed electricity generation, transmission and distribution infrastructure is at five-year highs. </p>
<p>And it appears that the surge in construction activity and public transport-related infrastructure spending are generating price pressures. Over the year to June, construction costs were up 3.3 per cent - just below nine-year highs. And engineering costs rose by 4.2 per cent - a seven-year high. </p>
<p>Quantity surveyor WT Partnership’s recently released Australian Construction Market Conditions report says that infrastructure tender price growth will increase by up to seven per cent next year. Big-ticket projects, such as Badgerys Creek Airport in Western Sydney and the Melbourne Metro Rail Tunnel, will boost demand for building materials, plant, equipment and scarce labour – especially engineers, project managers and construction trades.</p>
<p>Wage pressures are building in the construction sector.</p>
<p>In fact, skilled vacancies for construction managers are around the highest level in seven years.</p>
<p><strong>What do the figures show? </strong></p>
<p>Engineering construction work done rose by 2.2 per cent in real (inflation-adjusted) terms in the June quarter – the fifth gain in six quarters. But work done is down 5.2 per cent on a year ago. Previously, engineering work was reported as rising by 0.4 per cent in the June quarter to be down 7.2 per cent over the year. </p>
<p>Value of work completed for the public sector rose by 2.7 per cent in the quarter while private sector activity rose by 1.8 per cent. </p>
<p>Over the year to June a record $37.4 billion of infrastructure work was completed (engineering work for the public sector.)</p>
<p><img src="https://www.urban.com.au/images/2018/9/26/CommSec%203.JPG" alt=""></p>
<p> </p>
<p>Construction work rose in four of the states and territories in the June quarter: NSW (up 3.3 per cent); Victoria (down 4.7 per cent); Queensland (up 3.4 per cent); South Australia (up 9.6 per cent); Western Australia (up 2.7 per cent); Tasmania (down 1.0 per cent); Northern Territory (down 16.2 per cent); ACT (down 16.5 per cent). </p>
<p>Work yet to be done: There was $64.4 billion of engineering work yet to be done as at June 2018, up from $59.8 billion in the previous quarter. Excluding the resource sector (coal, oil, pipelines etc.) work to be done stands at $43.1 billion, below the record high of $45.3 billion in March 2012. </p>
<p>As at June 2018, $18.3 billion of work was to be completed on roads and highways and $11.7 billion on railways. And work to be completed on electricity generation, transmission and distribution was the highest in five years at $6.8 billion. </p>
<p><img src="https://www.urban.com.au/images/2018/9/26/CommSec%202.JPG" alt=""></p>
<p>In original terms, engineering work commenced in the June quarter was $29.0 billion, down by 2.0 per cent in the quarter. Almost $90.1 billion of engineering work was started in the past year. What is the importance of the economic data? </p>
<p>The Bureau of Statistics releases quarterly estimates of Engineering construction activity. The estimates include value of engineering construction work done, commenced and yet to be done, classified by state or territory, commodity (roads, bridges, pipelines etc.), sector (public/private) undertaking the work, and sector for whom the work is being done. The data is a comprehensive assessment of the infrastructure pipeline. What are the implications for interest rates and investors? </p>
<p>According to surveyor Rider, Levett and Bucknall, a record 735 cranes were hoisted above our major cities in the September quarter, reflecting the continuing strength of the construction sector within the Australian economy. Around 321 cranes are located in Sydney, followed by 192 in Melbourne and 112 in South-East Queensland.</p>
<p>Construction companies such as Lend Lease, Thiess, Brookfield Multiplex, BGC and Leighton have cranes and advertising scattered all over our major cities. They have plenty of work and are hoovering up highly skilled engineers, project managers and construction workers. </p>
<p><img src="https://www.urban.com.au/images/2018/9/26/CommSec%204.JPG" alt=""></p>
<p>Demand for labour and materials in infrastructure and construction-related sectors will increase over the coming year, pressuring contractors and sub-contractors. </p>
<p>According to WT Partnership, tender prices will grow by 3- 7 per cent in New South Wales, Victoria, South-East Queensland, Tasmania, South Australia and the ACT in 2018-2019. </p>
<p>Major projects under construction include the Sydney and Melbourne Metros. And projects that will enter the pipeline include the East Coast Inland rail line, Melbourne Airport rail, Brisbane Cross River Rail and Badgerys Creek rail. </p>
<p>CommSec expects official interest rates to remain stable until late 2019.</p>
<p><em>Ryan Felsman is a Senior Economist for CommSec</em></p>
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Record annual infrastructure building: Ryan Felsman

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<p>The ABC expects between $45 million and $50 million from the sale of its Ripponlea studio, in Melbourne's Elsternwick.</p>
<p>The 8 Gordon Street offering (pictured above) has been anticipated since the ABC moved staff to its revamped Southbank headquarters.</p>
<p>The ABC has already sold its nearby Selwyn Street facility to Woolworths for about $45 million.</p>
<p>Savills expect interest from residential and commercial developers, along with education, aged-care and healthcare operators.</p>
<p>The Gordon Street studios, built between 1956 and 1965, have been home to television shows including Bellbird, Power Without Glory, The Gillies Report, Kath and Kim and more recently, Mad as Hell.</p>
<p>The studios, closed last November, were home to the first purpose-built television studio in Victoria in with a Post-War International style building.</p>
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ABC Ripponlea studio listed for sale through Savills

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<p>EXPERT OBSERVER</p>
<p>Residential aged care facilities should be more like a home and less like a hospital.</p>
<p>Most older people <a href="http://www.who.int/mental_health/publications/dementia_report_2012/en/" target="_blank">want to stay at home</a> as long as they can. When this is no longer possible, they move into residential aged care facilities, which become their home. But Australia’s care facilities for the aged are growing in size and becoming less home-like.</p>
<p>In 2010–11, 54% of residential aged care facilities in major Australian cities had <a href="https://www.aihw.gov.au/reports/aged-care/residential-aged-care-in-australia-2010-11/contents/table-of-contents" target="_blank">more than 60 places</a>, and the <a href="https://www.pc.gov.au/inquiries/completed/aged-care/report/aged-care-overview-booklet.pdf" target="_blank">size of the average facility</a> is growing.</p>
<p>Today, more than 200,000 Australians live or stay in residential aged care on any given day. There are <a href="https://www.gen-agedcaredata.gov.au/Topics/Services-and-places-in-aged-care" target="_blank">around 2,672 such facilities</a> in Australia. This equates to an average of around 75 beds per facility.</p>
<p>Large institutions for people with disability and mental illness, as well as orphaned children, were once commonplace. But now – influenced by the 1960s <a href="https://psychcentral.com/encyclopedia/deinstitutionalization/" target="_blank">deinstitutionalisation</a> movement – these have been closed down and replaced with smaller community-based services. In the case of aged care, Australia has gone the opposite way.</p>
<p><strong>Why is smaller better?</strong></p>
<p>Evidence shows that aged care residents have better well-being when given opportunities for self-determination and independence. Internationally, there has been a <a href="https://www.sciencedirect.com/science/article/pii/S1525861016300482" target="_blank">move towards</a> smaller living units where the design encourages this. These facilities feel <a href="https://www.propertyobserver.com.au/https://www.ncbi.nlm.nih.gov/pubmed/26743545" target="_blank">more like a home</a> than a hospital.</p>
<p>The <a href="http://apps.who.int/iris/bitstream/handle/10665/186463/9789240694811_eng.pdf;jsessionid=731A680E51575BBDBEC07AFC9C449F23?sequence=1" target="_blank">World Health Organisation</a> has indicated that such models of care, where residents are also involved in running the facility, have advantages for older people, families, volunteers and care workers, and improve the quality of care.</p>
<p>In the US, the <a href="https://www.thegreenhouseproject.org/resources/research" target="_blank">Green House Project</a> has built more than 185 homes with around 10-12 residents in each. Studies show Green House residents’ enhanced quality of life doesn’t compromise <a href="https://www.propertyobserver.com.au/https://www.ncbi.nlm.nih.gov/pubmed/26743545" target="_blank">clinical care</a> or <a href="https://www.propertyobserver.com.au/https://www.ncbi.nlm.nih.gov/pubmed/21158746" target="_blank">running costs</a>.</p>
<p>Older people have a better quality of life if they can be involved in outdoor activities.</p>
<p>Around 50% of residents living in <a href="https://www.gen-agedcaredata.gov.au/Resources/Factsheets-and-infographics/Care-needs-factsheet.pdf?ext=" target="_blank">aged care facilities</a> have dementia. And <a href="https://www.propertyobserver.com.au/http://journals.sagepub.com/doi/abs/10.1177/1471301214532460" target="_blank">research has shown</a> that a higher quality of life for those with dementia is associated with buildings that help them engage with a variety of activities both inside and outside, are familiar, provide a variety of private and community spaces and the amenities and opportunities to take part in domestic activities.</p>
<p>In June 2018, an <a href="https://theconversation.com/caring-for-elderly-australians-in-a-home-like-setting-can-reduce-hospital-visits-97451" target="_blank">Australian study</a> found residents with dementia in aged-care facilities that provided a home-like model of care had far better quality of life and fewer hospitalisations than those in more standard facilities. The home-like facilities had up to 15 residents.</p>
<p>The study also found the cost of caring for older people in the smaller facilities was no higher, and in some cases lower, than in institutionalised facilities.</p>
<p>There are some moves in Australia towards smaller aged care services. For example, aged care provider <a href="https://www.wintringham.org.au/" target="_blank">Wintringham</a> has developed services with smaller facilities for older people who are homeless. Wintringham received the <a href="https://www.wintringham.org.au/built_environment" target="_blank">Building and Social Housing Foundation World Habitat Award 1997</a> for Wintringham Port Melbourne Hostel. Its innovative design actively worked against the institutional model.</p>
<p><strong>Bigger and less home-like</strong></p>
<p>Historically, nursing homes in Australia were small facilities, with <a href="https://www.anu.edu.au/fellows/jbraithwaite/_documents/Articles/The%20Nursing%20Home%20Industry.pdf" target="_blank">around 30 beds</a> each, often run as family businesses or provided by not-for-profit organisations. Between <a href="https://www.parliament.nsw.gov.au/lcdocs/other/9768/Aged%20care%20industry%20facts.pdf" target="_blank">2002 and 2013</a> the proportion of facilities with more than 60 beds doubled to 48.6%. <a href="http://www.stewartbrown.com.au/images/documents/StewartBrown---ACFPS-Residential-Care-Report-March-2017.pdf" target="_blank">Financial viability</a> rather than quality of care drove the increase in size.</p>
<p>Today, around 45% of facilities are operated by the private for-profit sector, 40% by religious and charitable organisations, 13% by community-based organisations, 3% by state and territory governments, and less than 1% by local governments.</p>
<p>In 2016, the Australian Institute of Health and Welfare (AIHW) reported that residential care services run by government organisations were more likely to be in small facilities. One-fifth (22%) of <a href="https://www.gen-agedcaredata.gov.au/www_aihwgen/media/2017-Factsheets/Services-and-Places-Factsheet-2016%E2%80%9317_2.pdf?ext=.pdf" target="_blank">places in these facilities</a> are in services with 20 or fewer places. Almost half (49%) of privately-run residential places are found in services with more than 100 places.</p>
<p>All of this means that more older Australians are living out their last days in an institutional environment.</p>
<p>Once larger facilities become the norm, it will be difficult to undo. Capital infrastructure is built to have an <a href="https://agedcare.health.gov.au/sites/g/files/net1426/f/documents/09_2016/2016_report_on_the_funding_and_financing_of_the_aged_care_industry_2.pdf" target="_blank">average 40-year life</a>, which will lock in the institutional model of aged care.</p>
<p>The built environment matters. The royal commission provides an opportunity to fundamentally critique the institutional model.<img src="https://counter.theconversation.com/content/103521/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1"></p>
<p><a href="https://theconversation.com/profiles/ralph-hampson-161263" target="_blank">Ralph Hampson</a> is the Senior Lecturer, Health and Ageing, University of Melbourne</p>
<p>This article is republished from The Conversation under a Creative Commons license.</p>
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Australia's residential aged are getting bigger and less home-like: Ralph Hampson

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<div>Moody's Investors Service says that its outlook for the Australian real estate investment trust (A-REIT) industry is stable, except for the retail segment, which faces a challenging operating environment.</div>
<div> </div>
<div>The growth in operating income will remain strong, and they expect aggregate comparable net operating income growth of 3% to 4% for their 16 rated A-REITs during the next 12-18 months</div>
<div> </div>
<div>Moody's Investors Service expect the office segment will see the strongest income growth, followed by industrial and retail.</div>
<div> </div>
<div>Low office vacancy rates in Sydney and Melbourne make these cities "a landlord's market."</div>
<div> </div>
<div>Moody's forecast for operating income growth of 3%-4% will be driven by low vacancy rates and strong demand on the back of favourable economic conditions.</div>
<div> </div>
<div>GPT Group, Mirvac Group and Dexus have the highest exposure in this segment and will likely record the highest growth over the next 12-18 months.</div>
<div> </div>
<div>Strong demand underpins solid growth in the industrial segment, and Moody's expects operating income growth of about 3%, with Sydney being the strongest market.</div>
<div> </div>
<div>Dexus, Goodman Group, Mirvac, Goodman Australia Industrial Partnership and Stockland Group will be the main beneficiaries according to Moody's analysis.</div>
<div> </div>
<div>Moody's Investors Service stated the retail segment is facing structural challenges on sluggish consumption and online sales growth.</div>
<div> </div>
<div>"Nevertheless, higher quality retail space remains resilient, and Moody's expects operating income growth of 2.0%-2.5%," it noted.</div>
<div> </div>
<div><img src="https://www.urban.com.au/images/2018/9/26/Moodys%20chart.JPG" alt=""></div>
<div> </div>
<div>"Well-located shopping centers that attract a deep pool of potential tenants and are underpinned by non-discretionary spending, or that are destination hubs, will continue to perform well," they added.</div>
<div> </div>
<div>Scentre Group, GPT, Mirvac and Vicinity Centres will benefit from these factors, while other centers, with a high level of discretionary spending exposure, will underperform, based on their latest data.</div>
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Moody's suggest outlook for A-REITs is stable, but retail face challenges

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<div>The Shakespeare Property Group has settled the $100 million purchase of the Novotel Twin Waters Resort on Queensland’s Sunshine Coast from the Abacus Property Group.</div>
<div> </div>
<div>
<div>This is Shakespeare's fifth major hotel acquisition bringing their total room stock to more than 1,200 rooms, this includes two other hotels managed by AccorHotels – Pullman Cairns International and Novotel Oasis Resort Cairns.</div>
</div>
<div> </div>
<div>Located between the Maroochy River and Mudjimba Beach, the Novotel Twin Waters Resort site (pictured above) is set on a 36 hectare holding comprised of the low-rise resort with 361 hotel rooms.</div>
<div> </div>
<div>Shakespeare have stated that their current aim is to improve the current facilities to position the resort as a "leading" business events venue and leisure resort in Queensland. </div>
<div> </div>
<div><img src="https://www.urban.com.au/images/2018/9/26/Novotel%202.JPG" alt=""></div>
<div> </div>
<div>Matt Young, Vice President of Operations for AccorHotels in Queensland and Northern Territory said that AccorHotels is proud to strengthen its business partnership with Shakespeare Group.</div>
<div> </div>
<div>The $100 million purchase of the resort comes right as construction of tourism infrastructure on the Sunshine Coast has picked up including the new runway and terminal facilities being developed for Sunshine Coast Airport and two new 5-star hotels approved over the past six months.</div>
<div> </div>
<div><img src="https://www.urban.com.au/images/2018/9/26/Sunshine%20Coast%20Airport.JPG" alt=""></div>
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Shakespeare Property Group has purchased the Novotel Twin Waters Resort

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<p>The Campbellfield Plaza shopping centre in Melbourne’s northern suburbs will be offered for sale via an Expression of Interest campaign handled by JLL’s Simon Rooney, Stuart Taylor and Tom Noonan.</p>
<p>The Campbellfield Plaza is only 14km from Melbournes's CBD and was first built in 1983 before being redeveloped in 2004.</p>
<p>The 18,000 sqm shopping centre is anchored by Coles, Kmart, Aldi and Officeworks.</p>
<p>The centre is added to by 19 mainly non-discretionary specialty stores and a Kmart Tyre &amp; Auto.</p>
<p>Positioned on Hume Highway and Mahoneys Road.</p>
<p>The centre provides a total land area of 5.863 hectares, coupled with a WALE of approximately 8.87 years (by area) and Net Income of approximately $4.6 million p.a.</p>
<p>The Campbellfield Plaza offering is provides the only 24 hour Kmart in the northern suburbs of Melbourne, in addition to primarily food &amp; grocery based tenants and 822 car parking for customers.</p>
<p>Head of Retail Investments, Australasia Simon Rooney added “Small sub-regional shopping centres which are largely food, service and convenience-based remain highly sought after given the limited reliance on discretionary sales”.</p>
<p>“Campbellfield Plaza is also unique in that it offers a higher than average majors to specialty ratio when compared to sub-regionals that have come to market in recent years.” </p>
<p>"We have seen $644.0 million transact in the year to date including the recent JLL sale of Sturt Mall to SCA for $73 m, Gateway Plaza Leopold to Charter Hall for $117.0 m, Toormina Gardens to Fort Street Real Estate Capital Fund III for $83.3 m, Grand Plaza Shopping Centre (50%) to Invesco Real Estate for $215.0 m, Brandon Park Shopping Centre to Newmark Capital for $135.0 m,” he noted.</p>
<p>Unlisted funds and offshore investors have driven acquisitions in the retail sector since 2013, having jointly accounted for 65% of activity.</p>
<p>Unlisted funds have acquired $4.1 billion of sub-regional assets since the surge in activity began five years ago, followed by offshore investors at $2.5 billion and REITs at $1.7 billion over the same period.”</p>
<p>He suggested that, “Victoria in particular, provides sound investment fundamentals with the economy underpinned by broad-based growth driven by strong growth in household consumption, tourism, infrastructure spending and business investment.”</p>
<p>Mr Rooney concluded by stating, "we’re expecting strong interest in Campbellfield Plaza due to its metropolitan Melbourne location only 14km from the Melbourne CBD, and strong investment fundamentals”</p>
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Campbellfield Plaza shopping centre offered by JLL

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<p class="null">ASIC has applied to the Federal Court of Australia for the appointment of provisional liquidators to Aviation 3030 Pty Ltd (Aviation) related to that company’s operation of a property investment scheme involving 98 hectares of land at Point Cook, Victoria.</p>
<p class="null">ASIC’s application has been listed for hearing in the Federal Court of Australia in Melbourne on 27 September 2018.</p>
<p class="null">ASIC is seeking:</p>
<ul>
<li>the appointment of George Georges and John Lindholm of Ferrier Hodgson as provisional liquidators of Aviation; and</li>
<li>orders requiring the provisional liquidators to provide a report to the court which sets out, among other things, the identity of Aviation investors (which includes shareholders and unitholders), the financial position of Aviation, and an opinion as to the validity of the issue of 63% of shares in Aviation to a director and former director.</li>
</ul>
<p class="null">The grounds of ASIC’s application include that:</p>
<ul>
<li>there is a justifiable lack of confidence in Aviation’s management;</li>
<li>Aviation issued shares without a prospectus when one was required; and</li>
<li>the Aviation scheme is an unregistered managed investment scheme which was required to be registered with ASIC.</li>
</ul>
<p class="null">Once the provisional liquidators’ report has been provided to the Court, ASIC will consider whether it should seek orders from the Court for the winding up of Aviation and the managed investment scheme it operates through five separate trusts (the Aviation scheme). ASIC will also consider whether to seek orders to wind up all of the trustee companies involved in the Aviation scheme, each of which are controlled by Aviation directors, as follows:</p>
<p>1.      Aviation3030 Investment Pty Ltd</p>
<p>2.      Aviation3030 Holdings Pty Ltd</p>
<p>3.      Aviation 3030 Heng Ly Pty Ltd</p>
<p>4.      Point Cook Aviation3030 Pty Ltd</p>
<p>5.      Aviation 3030 HL Pty Ltd.</p>
<p class="null">Aviation purchased property at Point Cook for $7.8 million in 2011 with a view to rezoning the property to increase the value of 756 Aviation Road. <span style="font-family: Arial, Helvetica, sans-serif; font-size: 14px;">To f</span><span>acilitate the purchase and rezoning of the property, Aviation raised around $10.59 million from approximately 73 shareholders and unitholders. On 13 September 2012 the Aviation property was rezoned from Green Wedge Zone to Farming and appears to have significantly increased in value.</span></p>
<p class="null">On 6 July 2018 Aviation entered into a contract for the sale of the land at Point Cook. This contract was formally terminated on 17 August 2018 and ASIC is not aware of there being any current sale contract.</p>
<p class="null">ASIC has previously, in 2016, issued court proceedings against Aviation to limit the ability of Aviation to deal with the proceeds of the sale of the Aviation property, pending further disclosures being made to investors about a share issue in 2016 to companies owned by a director and former director, and an opportunity to obtain independent advice concerning their investments.</p>
<p class="null">By agreement with ASIC, Aviation provided corrective disclosure to investors in September 2016 about the 2016 share issue to companies owned by a director and former director. The freezing order was vacated when it became apparent that the sale would not then proceed.</p>
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ASIC moves on Aviation 3030's Point Cook rezoned property play

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<p>Properties in Melbourne’s south-west are being snapped up much faster than the same time last year, new data shows.</p>
<p>The latest Real Estate Institute of Victoria (REIV) report showed properties in Williams Landing sold 41 days faster this August (64 compared with 105 in 2017), while properties in the neighbouring suburb of Seabrook were on the market for 35 fewer days (down to 49 from 84).</p>
<p>Point Cook listings sold 19 days quicker (52 compared to 71) and the days on market for Altona shrunk 16 days down to just 32 from 48.</p>
<p>REIV President Richard Simpson said there is a clear trend in this region of Melbourne.</p>
<p>“Melbourne’s south west is becoming increasingly popular with buyers, especially young families, who are attracted by access to public transport, proximity to the CBD, plenty of green open space, shopping centres and community facilities,” Simpson said.</p>
<p>Tithe median house price for Point Cook and Williams Landing are both below the $840,000 median house price for metropolitan Melbourne and below the $750,000 cut off for first home buyer incentives.</p>
<p>The median in Point Cook increased 13.4% in the 12 months to 30 June 2018 to $706,000 while Williams Landing’s median went up by 10.6% to $685,000.</p>
<p>Days on market increased four days from 32 days in August 2017 to 36 days in August 2018 for metropolitan Melbourne but decreased four days, from 47 to 43, for regional Victoria.</p>
<p>The South Gippsland town of Lang Lang had the most significant shrinkage of days on market between August 2017 and August 2018, losing 63 days from 82 to 19.</p>
<p>Other strong performers were Skye, Narre Warren South, Doreen, Cranbourne East and Cranbourne West where properties lasted just 20 days on market, Simpson said.</p>
<p>“Private property listings do not last long in the Yarra Valley with the REIV’s Days on Market data showing that homes are snapped up within 10 days in Millgrove, 13 days in Upwey, 14 days in Woori Yallock, 15 days in Yarra Junction and Launching Place and 17 days in Warburton."</p>
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Time on market shrinking in Melbourne's south-west: REIV

<p>An entity directed by HSN's Rafi Assouline and Rebel Property's Allen Linz has filed plans for an impressive new precinct in Woolloomooloo.</p>

<p>The major mixed-use development would transform a prominent William Street site into a new residential village anchored by affordable housing and a large public park.</p>

<p>The proposal, submitted as a State Significant Development Application, covers 164-172 and 174-194 William Street, a 6,398 sqm site between Forbes Street and Dowling Street on the southern edge of Woolloomooloo.</p>

<p>Designed by fjcstudio in collaboration with Bangawarra, Studio Bright and Tribe Studio Architects, the scheme would deliver 227 apartments across four residential buildings ranging in height up to 18 storeys, alongside retail space, public domain improvements and a new publicly accessible park.</p>

<p><img alt="Rebel" data-entity-type="file" data-entity-uuid="0eb59b7c-914a-4a5c-b849-3a56749f5e93" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.18.51%E2%80%AFAM.png?VersionId=mxM6EEqeoLjrCiTlCzTKTvzpKuh6kSkH" /></p>

<p>It's another design scheme for Rebel, who took <a href="https://www.apartments.com.au/news/nsw/first-look-rebel-property-group-takes-woolloomooloo-precinct-to-nsw-government">concept plans to the NSW Gov late last year</a>.</p>

<p>The latest plans will be a mix of 167 build-to-sell apartments and 60 affordable apartments, with the affordable housing component representing 15 per cent of the project's gross floor area. The apartment mix includes 12 one-bedroom, 53 two-bedroom, 89 three-bedroom apartments and 13 penthouses, while the affordable housing component would comprise 42 one-bedroom and 18 two-bedroom apartments.</p>

<p><img alt="Rebel" data-entity-type="file" data-entity-uuid="3b3d4553-8a8c-4af5-aa8c-519ffb1e28c6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.20.12%E2%80%AFAM.png?VersionId=_Yb6ibN7eDnOtQjCNDK2eviORa4qzgv." /></p>

<p>Rebel Property is seeking to take advantage of the NSW Government's infill affordable housing bonus provisions under the Housing SEPP, which provide additional floor space and height in exchange for the delivery of affordable housing for a minimum of 15 years. The planning pathway allows a 30 per cent increase in floor space ratio and building height where 15 per cent of the development is dedicated to affordable housing.</p>

<p>&nbsp;</p>

<p>At the centre of the development is a 1,356 sqm sunlit public park designed to become a new community gathering space at the gateway to Woolloomooloo. The park would be complemented by a network of pedestrian laneways connecting William Street with the surrounding streets, improving permeability through what is currently a largely impermeable block.</p>

<p><img alt="Rebel" data-entity-type="file" data-entity-uuid="257af931-a393-4007-8c6d-7219796df58d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.20.51%E2%80%AFAM.png?VersionId=KAHy94GrhaReFsWTGDKfy39EDJ8gEEv4" /></p>

<p>The design team says the public domain has been heavily influenced by the site's topography and Aboriginal cultural heritage, drawing on the escarpments, gullies and landscape characteristics that historically defined the area before urbanisation. The landscape design has been developed in partnership with First Nations consultancy Bangawarra.</p>

<p>The project would be delivered across four separate buildings. The William Street East and William Street West buildings, designed by fjcstudio, would contain the majority of the apartments. Melbourne-based Studio Bright has designed the Forbes Street building, while Tribe Studio Architects is responsible for the Dowling Street building.</p>

<p>Rebel had secured approval for the concept plans late last year.</p>


Joel Robinson

First look: HSN, Rebel, advances Woolloomooloo precinct plans

<p>A locally heritage-listed furniture showroom on Water Street is set to become the centrepiece of a new mixed-use residential development as local developer&nbsp;<a href="https://www.apartments.com.au/developers/keylin-group">Keylin</a> seeks approval for <a href="https://www.apartments.com.au/new-apartments/lotus-on-water-street-290-water-street-fortitude-valley-qld-4006">Lotus on Water Street</a>, a 15-storey project on the Fortitude Valley side of Spring Hill.</p>

<p>The proposal spans 290 Water Street and 137-141 Warry Street, combining several properties into a 2,869 sqm site that sits between Fortitude Valley, Spring Hill and the rapidly evolving Victoria Park precinct. Keylin's plans would deliver 132 apartments alongside new retail, hospitality and commercial space, while retaining and repurposing the historic Brunswick Home Furnishers Showroom that fronts Water Street.</p>

<p>Designed by <a href="https://www.apartments.com.au/architects/jackson-teece">Jackson Teece</a>, Lotus on Water Street comprises a 12-storey residential tower rising above a three-storey podium and communal rooftop terrace. The development includes 76 apartments classified as multiple dwellings and a further 56 units proposed as short-term accommodation, designed to be flexibly used as either accommodation or permanent residences. The apartment mix comprises six one-bedroom, 54 two-bedroom and 16 three-bedroom homes.</p>

<p><img alt="First look: Keylin unveils heritage-led Lotus on Water Street tower in Fortitude Valley" data-entity-type="file" data-entity-uuid="9822bb79-6c49-49c9-95ba-319e8c8d81c3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/fortitude%20valley%20front.png?VersionId=ioW8zbN4UVebbLetTFuv92t.HkdgfR5e" /></p>

<p>Residents would have access to an extensive rooftop recreation level spanning more than 1,200 sqm of communal open space. Plans include a pool, gym, sauna, infrared sauna, yoga area, library, private dining room, barbecue facilities and landscaped entertainment spaces, making the rooftop the project's largest shared amenity offering.</p>

<p>At street level, the proposal focuses on the adaptive reuse of the heritage buildings along Water Street, where 518 sqm of retail and commercial space is planned across shop, office and food and drink outlet uses. A permeable residential lobby would be positioned between the retained heritage buildings, creating a pedestrian connection between the historic streetscape and the new tower behind.</p>

<p><img alt="First look: Keylin unveils heritage-led Lotus on Water Street tower in Fortitude Valley" data-entity-type="file" data-entity-uuid="269cf3e0-7d13-48bf-a318-05a00deb5c10" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/fortitude%20valley%20podium.png?VersionId=DLXmTCLsp6GOcLpQ0h.0z7wKCw59EhN_" /></p>

<p>The heritage retention strategy is central to the scheme. The development application notes that the Brunswick Home Furnishers Showroom and adjoining heritage buildings will remain, with only non-significant structures on the site earmarked for removal under a previously issued Heritage Exemption Certificate. Levels one and two of the new podium are recessed behind the heritage façades to maintain their prominence within the streetscape.</p>

<p>Jackson Teece has drawn inspiration from the site's manufacturing history when designing the podium. The planning documents state that the façade incorporates perforated metal screening that references the woven and rattan furniture historically produced on the site. Cascading and climbing plants are integrated throughout the podium to soften the building's presentation and screen parking levels behind. The landscape strategy also informs the project's name, Lotus on Water Street, drawing on the historic Spring Hollow waterholes that once ran through Spring Hill and the blue water lilies associated with Meeanjin, Brisbane's traditional name.</p>

<p>The proposal also incorporates the neighbouring property at 141 Warry Street, currently occupied by a healthcare service. The existing building would remain, with nine dedicated parking spaces allocated within the new development to support its ongoing operation. In total, Lotus on Water Street proposes 117 car spaces, including 110 resident spaces and seven visitor bays, alongside 100 bicycle spaces.</p>

<p><img alt="First look: Keylin unveils heritage-led Lotus on Water Street tower in Fortitude Valley" data-entity-type="file" data-entity-uuid="70cf07bc-4fd8-4e70-92dd-be8b21c4e4f0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/fortitude%20valley%20site.png?VersionId=txlxrJImM0Sm_vTzHVKh5DDUkyL_CiiA" /></p>

<p>The site sits within the Spring Hill East Precinct of the Spring Hill Neighbourhood Plan and is positioned around 650 metres from both Fortitude Valley Station and Exhibition Station. It is also within walking distance of the King Street precinct, Royal Brisbane and Women's Hospital, Herston Quarter and Victoria Park, which is earmarked to become a major venue precinct ahead of the Brisbane 2032 Olympic and Paralympic Games.</p>

<p>Planning documents describe the location as a key gateway between Spring Hill and Fortitude Valley and highlight the area's increasing importance as new transport infrastructure and Olympic-related investment reshape Brisbane's inner north. The development team argues the project will contribute additional housing supply while activating a section of Water Street that has historically received less investment than other parts of the Valley.</p>

<p>Keylin has become increasingly active across Brisbane and southeast Queensland, assembling sites in strategic inner-city locations. They are currently selling and delivering <a href="https://www.apartments.com.au/new-apartments/oria-spring-hill-447-gregory-terrace-spring-hill-qld-4000">Oria Spring Hill</a>, just over 140 apartments due for completion in 2027.</p>


Keylin plans heritage-led Lotus on Water Street apartment development in Fortitude Valley

<p>Roseville is poised for a wave of new apartment development following the NSW Government's rezoning of land around Roseville Station under its Transport Oriented Development program.</p>

<p>The new planning controls have unlocked significant development potential within walking distance of the station, with a number of sites expected to be amalgamated and redeveloped in the coming years as developers seek to take advantage of the increased density allowances.</p>

<p>One of the more restrained developments in the precinct, and set among the first to be delivered having commenced well before the recent changes, is Hyecorp's Juliet. The boutique apartment project is already well under construction and remains on track to welcome residents by the end of the year, offering a markedly different proposition to many of the larger-scale developments now likely to emerge across the suburb.</p>

<p>[smartcode_project:default project_id=7395 project_image_fid=278194]</p>

<p><a href="https://www.apartments.com.au/new-apartments/juliet-roseville-64-pacific-highway-roseville-nsw-2069">Juliet</a> will comprise just&nbsp;34 one-, two-, and three-bedroom apartments opposite Roseville Station. For Hyecorp, which has delivered projects across Sydney's Lower North Shore for more than three decades, Roseville presented a rare opportunity to address a growing gap in the market.</p>

<p>"<a href="https://www.apartments.com.au/developments/roseville-nsw-2069">Roseville</a> has long been one of the North Shore's most tightly held and desirable suburbs, offering a unique combination of village charm, established greenery, excellent transport connections, and proximity to some of Sydney's best schools and lifestyle amenities," Hyecorp said.</p>

<p>"We recognised a growing demand from local homeowners seeking to downsize without leaving the community they have built their lives around. The location presented a rare opportunity to create homes that cater specifically to that buyer profile."</p>

<p>[smartcode_project:default project_id=7395 project_image_fid=278196]</p>

<p>The six-level development has been designed by <a href="https://www.apartments.com.au/architects/pbd-architects">PBD Architects</a> as a collection of residences that feel more like homes than apartments. The brief centred generous floorplans, abundant natural light, quality finishes, and strong connections to outdoor space.</p>

<p>PBD Architects drew inspiration from Roseville's established garden suburb character, creating a building that sits comfortably within its surroundings rather than dominating them. The architecture incorporates natural materials, soft forms, layered landscaping, expansive balconies, and generous setbacks to strengthen the connection between residents and the suburb's leafy environment.</p>

<p>"The focus was on designing spacious, house-like residences for discerning owner-occupiers and downsizers who wanted to remain on the North Shore without compromising on comfort, privacy, or design," PBD said.&nbsp;</p>

<p>"Every apartment was to feel considered, timeless, and highly functional."</p>

<p>[smartcode_project:default project_id=7395 project_image_fid=278195]</p>

<p>Inside, residences feature engineered timber flooring, stone kitchen benchtops and splashbacks, integrated Fisher &amp; Paykel appliances, ducted air conditioning, and large outdoor entertaining areas designed to take advantage of district and treetop views.</p>

<p>Residents will also have access to a rooftop barbecue and lounge area, alongside practical amenities including parcel lockers, EV charging capability, bicycle storage, a dog wash bay, and a basement car wash facility.</p>

<p>The majority of purchasers so far have been local owner-occupiers from Roseville, Lindfield, Chatswood, Killara, and the broader Upper North Shore, many of whom are transitioning from larger family homes.</p>

<p>"Buyers are looking for spacious, house-like apartments that allow them to downsize without feeling like they are sacrificing comfort or functionality," Hyecorp noted.</p>

<p>"They value large kitchens, generous living areas, ample storage, quality finishes, secure parking, lift access, and low-maintenance living."</p>

<p>[smartcode_project:default project_id=7395 project_image_fid=278204]</p>

<p>Juliet sits directly opposite Roseville Train Station and within walking distance of Roseville Village, while Chatswood's retail and dining precinct is only minutes away. The development is also surrounded by some of Sydney's most established schools, including Roseville College, Ravenswood, Pymble Ladies' College, and Knox Grammar, as well as nearby parklands and golf courses.</p>

<p>Juliet is currently more than 75 per cent sold ahead of its anticipated completion in late 2026.</p>

<p>[smartcode_project_cta:default project_id=7395]</p>


Juliet to sit quietly amid Roseville apartment boom

<p>Sherpa Property Group has unveiled the third instalment of its Flourish series, securing full approval for the two-tower, $500 million Flourish Soleira development in Palm Beach.</p>

<p><a href="https://www.apartments.com.au/new-apartments/flourish-soleira-1150-1154-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> will rise from a prominent site in the commercial heart of Palm Beach, the long-time home of Cash Converters and a range of local retailers.</p>

<p>The project will introduce a new retail and dining precinct at ground level, beneath 286 apartments.</p>

<p>[smartcode_project:default project_id=150017 project_image_fid=370959]</p>

<p>“We’re very committed to not only providing affordable residential offerings that are much needed in Palm Beach, but also delivering a vibrant new commercial heart that complements the extraordinary growth of the southern Gold Coast,” Sherpa Property Group founder Christie Leet said.</p>

<p>The development will sit under Sherpa's Flourish brand, which is aimed at providing a pathway into the beachside suburb for locals, first-home buyers and downsizers. In a move designed to assist first-home buyers entering the market, Sherpa has reserved all one and two-bedroom, one-bathroom apartments exclusively for eligible first-home buyers.</p>

<p>[smartcode_project:default project_id=150017 project_image_fid=370964]</p>

<p>“Our vision through Flourish is to create a vibrant retail and lifestyle focal point within the Palm Beach centre zone, delivering thriving communities underpinned by lifestyle-rich locations,” Leet said.</p>

<p>“So far, Flourish has been an incredible success, and we hope to carry this momentum as we progress the next two Flourish projects in Palm Beach.”</p>

<p>[smartcode_project:default project_id=150017 project_image_fid=371430]</p>

<p>Located across 1150-1164 Gold Coast Highway and 3 Sixth Avenue, the development will comprise two towers. The northern tower will deliver 154 apartments, while the southern tower will add a further 132 residences, helping address ongoing demand for new apartments in the tightly held coastal suburb.</p>

<p>Flourish Soleira will also feature the most extensive rooftop amenity offering ever delivered in Palm Beach.</p>

<p>The two towers will be connected by a skybridge, with residents gaining access to a rooftop recreation deck featuring a full-width swimming pool, hot and cold plunge pools, wellness spaces, a gymnasium, private dining facilities, massage treatment rooms, barbecue areas, a basketball court, golf simulator, indoor and outdoor dining spaces, sun lounges and extensive landscaping.</p>

<p>LPS Group is expected to start construction later this year.</p>

<p>Sherpa is already well advanced on construction of its debut Flourish project, Flourish Amargo, located just around the corner from Soleira. Meanwhile, Flourish Oasis, positioned opposite Amargo, recently commenced construction and has nearly sold out its collection of 47 apartments.</p>

<p>[smartcode_project_cta:default project_id=150017]</p>


Sherpa unveils $500m mixed-use Palm Beach precinct, Flourish Soleira

<p>Are mortgage holders set to get a reprieve from the RBA in 2026?</p>

<p>Big Four bank NAB believes so. They are now expecting the next move from the RBA to be a cut, rather than a hike, which they had pencilled in for August. They are unsure of the timing of the cut however, they note in their latest&nbsp;NAB Economics RBA Watch.</p>

<p>NAB Chief Economist, Dr Sally Auld, said recent data suggests the economy has lost momentum and the outlook for rates has shifted, noting that the broader economic backdrop has changed since earlier in the year.</p>

<p>“The next move in the cash rate is likely to be down, but the timing is uncertain," Dr Auld said.</p>

<p>"In February, growth was above trend, the economy was operating above capacity and there was uncertainty over the restrictiveness of rates. None of these conditions exist today,” she outlined.</p>

<p>Dr Auld said recent data pointed to softer momentum across the economy while acknowledging that at the same time, uncertainty remains a key feature of the outlook.</p>

<p>“Both Q1 GDP data and the NAB business survey suggest momentum in the economy has slowed, meaning that growth has likely peaked for the cycle. That said, we are cognisant there is still considerable uncertainty around the outlook, both with respect to activity and inflation.”</p>

<p>Dr Auld said inflation risks and labour market outcomes would be important to watch.</p>

<p>“On the prices side, we are still forecasting above target core inflation through to mid-2027. Margins will compress and weaker labour market outcomes are a risk.”</p>

<p>She said tighter financial conditions are expected to weigh on housing and activity.</p>

<p>“Tighter financial conditions will be reflected in a slowing in house price growth and housing credit growth. In summary, we have greater conviction that the next move in rates is down, but less conviction on the timing.”</p>


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