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GUEST OBSERVATION
Australia is, apparently, in the midst of a population “crisis” – just this month, we passed the milestone of 25 million people. The nature of the crisis depends on the day and who you ask. Size and growth have become an increasing public preoccupation, particularly as immigration has held firm over the last 12 years as the major contributor to population growth.
Australia’s workforce is shrinking due to population ageing. This puts more pressure on young people to contribute enough personal income tax to fund the Australia we’ve become accustomed to. Immigration is one way to ensure Australia has the labour force it needs to offset the financial challenges of an ageing population.
But the population and population growth is unequal across Australia. The Turnbull government has signalled it will introduce a population policy (of sorts) by the end of the year. This will reportedly focus on settlement of immigrants in regions outside major cities.
The problem is that many people are conflicted about whether the population should continue to grow at all. A population policy offers a way for the country to be prepared and respond to the current and future needs of Australians. So, what would a good population policy look like?
Well-being, not control
The difficulties of the breadth of population-related matters in policy can be overcome, or at least minimised, by having a minister or agency with oversight over the progress of the population framework. The framework, which would include measurable indicators, would report and monitor success towards population-related well-being. This could provide an opportunity for the public to be involved and remain informed.
Population policies are usually focused on the components of population change: births, deaths and migration. Many people hold the mis-perception population policies are about control, and this isn’t surprising given the restrictive population policies in China.
But contemporary population policies, for countries like Australia, are less about controlling numbers and more about ensuring population well-being. The core tenet of a population policy for Australia should be about the population’s quality of life, now and into the future.
Health and education are central to quality of life. Babies born today or in the future should receive sufficient government investment to have a good start at life, particularly with respect to health and education. This means adequate housing and welfare support for families and children, quality equitable education and accessible and affordable health-care.
Gender inequality – both at home and in the workplace – are important elements to the population policy puzzle. Childcare and family support payments are crucial to population well-being, particularly among working parents.
A contemporary population policy for Australia should also include considerations of the use of land for agriculture, mining, water consumption and sources, and the degradation of natural parklands. Mandated environmental behaviours are overdue, and crucial to food and climate security.
Not the size that matters
Focus on population growth rates and size belies the nuances of the population context. It’s not size or growth that matters, but the characteristics and distribution of the population.
Strategies that seek to attract and retain populations outside the city limits will take the pressure off cities with the highest growth – such as Melbourne, Sydney and Brisbane. And these strategies shouldn’t just consider immigrants are beneficiaries of settlement incentives — Australian locals could participate in such a scheme.
Essential services, such as schools and hospitals, are based around populations. That is, hospitals are built where there is already enough demand. Yet adequate infrastructure must already be present for viable communities in regional areas to attract people to move there.
A settlement strategy could also incorporate investigations and investments in the way Australian towns and associated infrastructure can best support communities. This can include such things as employment opportunities, appropriate housing, transport and telecommunications.
Nhill, a town in the Wimmera region of western Victoria, embarked on a strategic resettlement program for a group of Karen refugees from Myanmar in 2010. A report by Deloitte Access Economics showed an estimated increase of more than A$40 million in Gross Regional Product over five years as a result of this strategy. This serves as a good example for how community and industry can work together to attract people to help bolster local business.
A policy is long overdue
Population ageing means we need to take action now to guarantee Australia’s future social and demographic sustainability.
Australia is long overdue for a sensible strategy for the future. Australia doesn’t need an immigration plebiscite (or even consensus) or another population inquiry to advance a population policy. We need evidence based decision-making which will ensure sustainability and quality of life into the future.
Public consultation and government-commissioned quality research to inform the future needs of the migration program will ensure the parameters of population policy are right for Australia.

A population policy for Australia should provide a blueprint for the future; a framework for what the nation aspires to be, and achievable goals to get there.
Liz Allen, Demographer, ANU Centre for Social Research and Methods, Australian National University
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/heres-what-a-population-policy-for-australia-could-look-like-101458" target="_blank">original article</a>.
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j.ballantyne1990-6AQqhLzZaK

Here’s what a population policy for Australia could look like: Liz Allen

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GUEST OBSERVATION
After the tragedy in the Italian city Genoa, where a highway bridge collapsed killing more than 40 people, nations seem to be taking stock of the maintenance levels of their bridges. There are reports thousands of UK bridges are at risk of collapse, and there are hundreds of similarly damaged bridges in France, Germany and Italy itself.
Australia is no different to other developed countries in this regard, where a lot of bridges are old and deteriorating, and we would be foolish to think we are immune. That said, bridges are generally safe structures, with the risk of fatality from a bridge collapse being around one in 100 million per year. This is roughly 100 times less likely than being killed by lightning.
So yes, our bridges are safe, but they need to be kept up-to-date to maintain these low statistics. So how are bridges in Australia managed, and who is responsible?
The age of Australia’s bridges
Bridges are nominally designed to last for some long period of time, such as 100 years. However, such claims are reasonably arbitrary, since much of the technology used in bridge construction hasn’t even existed for 100 years.
Accelerated deterioration testing in laboratories does help make predictions, but it’s not necessarily a good reflection of field performance. This is because of differences between naturally occurring, and artificially impressed, corrosion.
Both age and traffic volume are significant factors in the rate of deterioration of bridge surfaces. Age is likely a proxy for the combination of weather effects and the natural degradation of the material. To combat these effects, inspections and maintenance – or better yet, live monitoring – of bridges, are the best ways we have to ensure public safety.
In Australia, around 800 organisations are responsible for around 53,000 public road bridges. Some (about 23,000) are managed by state road authorities, who manage the high-capacity arterial roads, and local councils who manage the remaining local roads (about 30,000). Of course, the eight state and territory road authorities are the main road bridge owners.
Bridge safety, as with all structural engineering, is a question of whether the imparted load is less than the structure’s strength. Since loads and material strengths are variable, high estimates of loads are used, and low estimates of strengths are used. These extreme (high) loads and (low) strengths are further factored to achieve an acceptably small probability of failure when checking structural adequacy.
Highway traffic loads are known as “normal” when referring to everyday ordinary loading and “abnormal” in the case of special heavy transport. The high estimate of normal traffic loading represents a once in a 1000-year likelihood of a critical event (known as the return period). Abnormal special vehicles might be 300 or 400 tonne loads. During movements of these vehicles, no other traffic will be permitted on the bridge.
Before 1950 Australia’s road bridges were built to design standards set at state level. Around 15% of our bridges on main roads come from this era.
Considering normal traffic use, from 1950 to 1976 short-to-medium span bridges were designed for the MS18 load model. This is roughly a 33 tonne semi-trailer vehicle, or about 20 cars. These now comprise about 50% of the bridge network. From 1976 to 2004 it was the T44 load model, or roughly a 44-tonne vehicle, and these are about 25% of the network. Today, it is the M1600 load model (roughly a 160-tonne vehicle) and these make up about 10% of the network.
These load models have different weight and other aspects, so it isn’t meaningful to rely on the quoted gross weight – it strongly depends on how that load is distributed, and the other factors involved. Still, the loads bridges are designed for have increased together with legal truck weight limits, which themselves have increased by about 10% per decade since the 1950s.
So, how healthy are Australian bridges?
In Australia there are mostly three levels of bridge examination, but NSW has a fourth level. Level 1 inspections are essentially drive-bys to ensure there are no gross deformities present. This takes place roughly twice a year. Level 2 inspections are an “arms-length” visual inspection of all bridge surfaces and components and should take place around every five years at most. The scope of what is included in Level 2 inspections varies across jurisdictions.
Level 3 inspections are detailed engineering inspections, including material sampling and structural modelling. NSW’s level 4 inspections are typically proof load testing. Level 3 (and 4) inspections take place in special circumstances, such as a natural hazard, or change in legal load limits.
Unfortunately, it’s difficult to give a snapshot of the current state of Australia’s bridges. The state road authorities make public very little information about bridge conditions, or inspection and maintenance budgets. In South Australia, bridge inspection results are not available, even under Freedom of Information it seems. Tasmania, the ACT, and NSW offer no data, at least from their websites.
Queensland data is available via email, but has no inspection information. Western Australia offers a GIS interface, but again no inspection data. Victoria seems to be best, offering a GIS website, which includes condition ratings (using Vicroads’ own Bridge Condition Number).
What could we do better?
An open access national bridge inventory, such as exists in the United States, would be of enormous benefit in the study and management of Australia’s bridges. For this to happen, harmonisation of inspection and maintenance routines would be necessary, along with condition rating schemes.
While the present system reflects environmental, practice, and legislative differences between the states and territories, a reasonably general national system with jurisdiction-level tuning is surely feasible.
Risk assessments should move away from subjective qualitative approaches, and adopt an objective quantitative framework. This should help minimise problems associated with loss of corporate knowledge (which contributes to collapses). Such quantitative safety data would enable budgeting for inspection and maintenance to be done on a needs basis, with clear reference to minimum acceptable levels of safety.
There are no simple answers to the complex problems bridge management throws up. The ideal combination of field inspection, expert technical knowledge, management processes, and political decision-making is hard to find. Nevertheless, the case of the Ponte Morandi in Genoa should serve as sufficient warning to be vigilant.

It might be some comfort to the families of the 43 people who died to know their loss has motivated agencies around the world to ensure foreseeable bridge failures are prevented.
Colin Caprani, Senior Lecturer, Structural Engineering, Monash University
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/are-australian-bridges-safe-and-can-we-do-better-101825" target="_blank">original article</a>.
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Are Australian bridges safe, and can we do better?

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Charter Hall Group (Charter Hall) and Folkestone Limited (Folkestone) have announced that they have entered into a scheme implementation agreement for Charter Hall to acquire Folkestone for consideration of $205 million funded by cash from available investment capacity. Under the terms of the Scheme, Folkestone shareholders will be entitled to receive $1.39 cash per share, comprising a Charter Hall cash consideration of $1.354 per share and a special dividend of $0.036 per share.
This follows what is described as a "strong" FY18 result from Folkestone with normalised net profits after tax of $13.9 million, up 48.1%.
Folkestone had normalised earnings per share of 9.4 cps, also up 48.8%.
Folkestone's NAV per share currently sits at $1.13, up 4.8%, while their total funds under management totals 1.6 billion, up 26.1%
Folkestone’s Managing Director Greg Paramor stated Folkestone delivered a strong FY18 result.
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Charter Hall to acquire Folkestone

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A mixed use commercial building on Darby Street is the first property ever to have sold in Newcastle through an online auction.
There were three registered bidders competing for the property and another four bystanders watching the auction online for the office building at 126 Darby St Cooks Hill.
The holding that comes with retail space sold for $2.25 million, exceeding the vendor’s expectations.
This two storey Darby Street property has an annual return of $144,846 from three tenants including a long-standing dry cleaner, a kebab shop and a beautician on the first floor.
Listing agent, Steven Dick Director of Raine &amp; Horne Commercial Newcastle believed this result proves that online under the hammer sales will turn the auction process on its head in Newcastle.
“Bidders have to download the 'Openn Negotiation' app, pre-register and execute documents in terms suitable to the owner and then place a bid at any time before the final bidding stage,” Mr Dick said.
Buyers anywhere in the world with internet access can start bidding (pictured below is the interface).
<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/2018/8/22/Openn%202.jpg" alt="">
Mr Dick noted, “there’s no more having to attend a stress-filled auction room, no more having the eyes of the audience upon you, no more whispering as secret negotiations take place”
“Openn Negotiation provides an entirely transparent process with the sellers and buyers in total control and fully aware of what everyone else is bidding,” he commented.
Online auctions are the most exciting change to occur in real estate since the mobile phone and internet marketing, according to Mr Dick.
He excitedly said that, “online property auctions take real estate sales into the 21st Century by embracing the technologies that everyone has become accustomed to using.”
Raine &amp; Horne Commercial Newcastle has three auctions set for September, with two to be sold via Openn Negotiation and one in-room.
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Newcastle retail property sold via online auction

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EXPERT OBSERVER
How can cities do better?
It’s a familiar story in Australian cities: a new apartment building is proposed, and debate soon follows about whether the new residents will have enough public transport or coffee shops. Just kidding. Heated discussion is almost invariably about how much car parking will be built and whether it will be enough to stop cars swamping surrounding streets. In Melbourne, <a href="https://www.tandfonline.com/doi/abs/10.1080/14649357.2014.929727" target="_blank">hundreds of planning appeals</a> each year centre on this topic.
Our <a href="https://participate.melbourne.vic.gov.au/transportstrategy/car-parking" target="_blank">latest research</a> for the City of Melbourne estimates 25-41% of apartment parking in the inner city is vacant. Yet many people feel finding on-street parking is a struggle worsened by higher-density housing. How can both be so, and how can parking be done better?
<img src="https://images.theconversation.com/files/228348/original/file-20180719-142423-bs94pa.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="File 20180719 142423 bs94pa.jpg?ixlib=rb 1.1">
How many car parks are out there?
Cities contain <a href="https://whatthestreet.moovellab.com" target="_blank">surprisingly large amounts of parking</a>. In some US cities, car parking takes up as much as <a href="https://www.tandfonline.com/doi/abs/10.1080/17549175.2017.1310743" target="_blank">half of the ground space</a> of central areas. A recent study of five US cities found “car storage has become the primary land use in many city areas”. Des Moines has <a href="https://usa.streetsblog.org/2018/07/12/american-cities-are-drowning-in-car-storage/" target="_blank">18 times as many parking spaces per hectare as households</a>.
We don’t know exactly how many parking spots there are in most Australian cities. However, the City of Melbourne has <a href="https://www.melbourne.vic.gov.au/about-melbourne/research-and-statistics/city-economy/census-land-use-employment/Pages/clue.aspx" target="_blank">unusually good data</a> showing at least 217,090 parking spaces in inner Melbourne. Off-street parking totalled 4.1 million square metres, or 12% of total floor space in the municipality.
It’s harder to come by data on how parking space is used. Comparing 2016 <a href="http://quickstats.censusdata.abs.gov.au/census_services/getproduct/census/2016/quickstat/LGA24600?opendocument" target="_blank">Census data</a> on total car ownership (36,951) in the City of Melbourne to residential parking spaces (49,500) suggests there are 12,549 surplus residential car parking spaces – a 25% vacancy. Another <a href="https://exit.sc/?url=https%3A%2F%2Ftrrjournalonline.trb.org%2Fdoi%2Fabs%2F10.3141%2F2537-14" target="_blank">study surveying</a> eight inner Melbourne apartment buildings found car parks were between 30% and 40% empty.
<a href="https://images.theconversation.com/files/228153/original/file-20180718-142438-f44e41.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/228153/original/file-20180718-142438-f44e41.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Studies estimate around one-third of inner-city apartment parking spaces in Melbourne are unused. 
Why the excess parking?
Apartment parking is the <a href="https://www.melbourne.vic.gov.au/sitecollectiondocuments/clue-2016-summary-report.pdf" target="_blank">only parking type increasing</a> in inner Melbourne. Yet car parking <a href="https://trrjournalonline.trb.org/doi/abs/10.3141/1685-20" target="_blank">adds to housing construction costs</a> and <a href="https://www.tandfonline.com/doi/abs/10.1080/10511482.2016.1205647" target="_blank">reduces affordability</a>.
In Australia, land and construction costs per space are between <a href="https://www.onlinepublications.austroads.com.au/items/AGTM11-17" target="_blank">A$50,000 and $80,000</a>, and bays occupy 21 square metres on average. With <a href="https://www.smh.com.au/business/melbournes-apartment-sizes-face-more-scrutiny-20150414-1mkuj4" target="_blank">apartment sizes around 45 square metres</a>, this is a substantial housing trade-off. So in a dense high-cost area, why would there be more spaces than needed?
One reason is minimum off-street parking policies. In most of Melbourne, minimum parking rates have been <a href="https://theconversation.com/the-elephant-in-the-planning-scheme-how-cities-still-work-around-the-dominance-of-parking-space-87098" target="_blank">standard practice since the 1950s</a>. <a href="http://planningschemes.dpcd.vic.gov.au/schemes/vpps/52_06.pdf" target="_blank">State-wide provisions</a> require each new one-to-two-bedroom dwelling to include one off-street parking space, and each dwelling of three bedrooms or more to include two spaces, plus visitor parking.
Requirements for minimum space don’t reflect differences in demand. Some households will trade off parking for other housing characteristics. When London removed minimum parking policies, residential parking was <a href="https://www.accessmagazine.org/fall-2016/from-parking-minimums-to-parking-maximums-in-london/">built at only around half</a> the rate previous policies required.
But not using a space doesn’t mean it’s not wanted. In Melbourne, parking spaces are <a href="https://www.propertyobserver.com.au/https://www.jstor.org/stable/26211720" target="_blank">typically sold “bundled”</a> with property titles. Even carless households <a href="https://www.propertyobserver.com.au/https://www.tandfonline.com/doi/abs/10.1080/1357480022000012249" target="_blank">prefer to purchase parking</a> for its on-sale value. And when parking is located separately in the building, planning, owners’ corporation and building security rules can make it tricky to lease out or repurpose a space.
So why can’t I find a park?
<a href="https://www.tandfonline.com/doi/abs/10.1080/12265934.2014.927740" target="_blank">Conventional policy approaches</a> combine largely free on-street parking (seen as a public right) with minimum requirements for off-street parking in new developments. Researchers <a href="https://www.youtube.com/watch?v=Akm7ik-H_7U" target="_blank">argue</a> a <a href="http://www.vtpi.org/park_man.pdf" target="_blank">flaw of this approach</a> is that free on-street parking makes off-street requirements an imperfect response.
In Melbourne, 95% of <a href="https://transport.vic.gov.au/data-and-research/vista/">car trips that required parking</a> were free. Such approaches disguise demand and <a href="https://theconversation.com/the-elephant-in-the-planning-scheme-how-cities-still-work-around-the-dominance-of-parking-space-87098">over-supply parking</a> at the expense of other land uses and transport.
A second flaw is the assumption off-street parking is a perfect substitute for street parking. In practice, drivers <a href="https://www.sciencedirect.com/science/article/pii/S0967070X06000424" target="_blank">favour on-street parking</a> over parking garages. They will spend time <a href="https://www.propertyobserver.com.au/https://www.jstor.org/stable/26211763?seq=1#page_scan_tab_contents" target="_blank">cruising in search </a> of a free spot.
At home, households underuse private parking where free on-street parking is available. Household <a href="https://www.sciencedirect.com/science/article/pii/S0967070X13000565" target="_blank">garages are used for cars only around half the time</a>. A study of households in Los Angeles <a href="https://www.huffingtonpost.com.au/entry/life-at-home-in-the-twenty-first-century_n_1659172" target="_blank">found 75% of garages were filled</a> with accumulating household goods – pushing cars into driveways and streets.
<a href="https://images.theconversation.com/files/228154/original/file-20180718-142428-1bobxpi.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/228154/original/file-20180718-142428-1bobxpi.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Garages in houses are increasingly used to store household goods, not to park cars. 
What cities can do
Cities (including inner Melbourne) <a href="https://www.strongtowns.org/parking/" target="_blank">are removing or reducing off-street parking requirements</a>, or replacing these with maximums. Changes to off-street parking requirements should be integrated with market-based or <a href="https://www.reinventingparking.org/2016/07/six-signposts-to-parking-revolution" target="_blank">adaptive</a> on-street parking.
Dynamic pricing refers to parking where hourly fees vary by time and location, based on occupancy targets and usage patterns. Off-street and on-street parking are integrated to minimise both underpriced and overpriced parking. <a href="https://www.tandfonline.com/doi/abs/10.1080/01944363.2013.787307" target="_blank">SF Park in in San Francisco</a> has seen some peak locations increase in price, other meters reduced, and <a href="https://www.sciencedirect.com/science/article/pii/S0965856414000470" target="_blank">50% reductions in cruising</a> using such an approach.
Then there’s “unbundling”, where parking is sold or rented in a separate market to housing. Households can choose to own or rent less or more parking. Parking spaces could either be optional in initial purchase, or building managers (or owners) could rent out spaces separately. Informal and app-based markets are emerging to allow people with excess parking to rent space to those searching for it.
<a href="https://images.theconversation.com/files/228156/original/file-20180718-142432-tkx4z1.jpeg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/228156/original/file-20180718-142432-tkx4z1.jpeg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
In Japan, there is almost no on-street parking. 
Some studies suggest unbundling <a href="https://trrjournalonline.trb.org/doi/abs/10.3141/2319-11" target="_blank">reduces car ownership and use</a>, while others indicate it simply <a href="https://www.sciencedirect.com/science/article/pii/S0264837716304975">improves parking allocation</a>.
Precinct or neighbourhood parking is another approach. This is an off-site parking structure within walking distance used by different buildings in an area. Japan has a diverse market of off-street neighbourhood parking lots. This is fostered by a <a href="https://www.reinventingparking.org/2014/06/japans-proof-of-parking-rule-has" target="_blank">proof-of-parking law, combined with almost no on-street parking</a> and few parking minimums. Those who want a parking space at their house are free to do so, but many opt for a short walk to a small lot in their neighbourhood.
<img src="https://images.theconversation.com/files/228155/original/file-20180718-142414-rl9gaj.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
A residential car parking structure (above)) in the Vauban area in Freiburg, Germany.
Converting and future-proofing parking
Parking space can also be converted to other uses. <a href="https://www.citylab.com/transportation/2012/08/lessons-zurichs-parking-revolution/2874/" target="_blank">Parking numbers in central Zurich were capped</a> in 1996, with surface parking converted mostly to public squares. <a href="https://www.theguardian.com/cities/2017/jun/13/oslo-ban-cars-backlash-parking" target="_blank">Oslo is phasing out central city parking</a> in favour of “greener and more liveable” uses.
Since the 1970s Copenhagen policy has reduced parking spaces by 2% per year by <a href="https://www.trafficinfratech.com/parking-policy-u-turn-in-europe-effective-management-strategies/" target="_blank">“treating street space as a valuable public asset”</a>. <a href="https://metro.co.uk/2017/11/28/london-homes-and-offices-banned-from-car-parking-spaces-to-cut-pollution-7115870/" target="_blank">London</a> recently announced a ban on new parking. There are also <a href="http://pavementtoparks.org/parklets/" target="_blank">pop-up, temporary</a> approaches, parking <a href="https://www.minnpost.com/politics-policy/2017/11/why-future-minneapolis-parking-garages-may-not-include-parking" target="_blank">designed for future re-use</a>, and conversions of <a href="http://scadpad.com/" target="_blank">multistorey structures</a>.
Cities need to respond to changes and uncertainties around parking in ways that make fairer use of public and private space. Japan, for example, offers a more flexible model where parking ownership is easily transferred with changing needs.
<img src="https://counter.theconversation.com/content/99031/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">Some researchers <a href="https://www.tandfonline.com/doi/full/10.1080/14649357.2017.1416776" target="_blank">have recommended</a>, given the uncertainties around transport, that cities focus on parking reform. While not glamorous, it makes sense regardless of future automation scenarios.
Elizabeth Taylor, Vice Chancellor's Post-Doctoral Research Fellow, RMIT University &amp; Rebecca Clements, PhD Candidate, Faculty of Architecture, Building and Planning, University of Melbourne
This article was originally published on The Conversation. 
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Empty car parks everywhere, but nowhere to park

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<div style="text-align: left;" align="center">The Adina Apartment Hotel Mascot has been listed for sale.</div>
<div align="center"> </div>
<div style="text-align: left;" align="center">The serviced apartment/hotel is expected to sell for above $55 million.</div>
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<div style="text-align: left;">Situated in the heart of Mascot, 15-17 Bourke Road property is 2,440 square metres.</div>
<div style="text-align: left;"> </div>
<div style="text-align: left;">It comprises 123 serviced apartments, ranging from studios to two-bedrooms, set across seven levels.</div>
<div style="text-align: left;"> </div>
<div style="text-align: left;">It is currently let until 2027, the Knight Frank listing agency advised.</div>
<div style="text-align: left;"> </div>
<div style="text-align: left;">The Adina Mascot features an approximately 257 square metre café/bar on the ground floor.</div>
<div style="text-align: left;"> </div>
<div style="text-align: left;">It is located Sydney’s airport precinct opposite the Qantas headquarters.</div>
<div style="text-align: left;"> </div>
<div style="text-align: left;">Adina Apartments Hotels is operated by Toga Far East Hotels (TFE Hotels).</div>
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Adina Mascot listed for sale

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Savills Australia has negotiated a lease for Jenson PLUS for a 248 sqm office space in the Adelaide CBD.
Jenson PLUS has committed to a five year lease for the office shortly after the office underwent a refurbishment.
Savills Australia’s Adam Hartley negotiated the deal for 21 Roper Street, Adelaide saying the tenant was drawn to the modern space.
”From their first inspection Jensen Plus were attracted to the unique character of this building, new facilities and high feature ceiling,” Mr Hartley said.
Swan Family Lawyers are the current owners of the building and have been since 2016 when they purchased the property for just shy of $1.5 million 
Jensen Plus will be paying $330 per sqm, $81,840, annually.
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Urban Adelaide building group Jenson PLUS relocate to the CBD through Savills

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Real estate auctions before 1pm on Anzac Day will be banned in Victoria under new laws to bring the property industry in line with other trading restrictions.
The issue arose in 2015 when Anzac Day fell on a Saturday. It is next set for a Saturday in 2020.
Melbourne agents mostly offered afternoon auctions, but Premier Daniel Andrews expressed concerned about reports raised on Neil Mitchell's 3AW that home auctions were held on Saturday morning.
"It may be legal to be having auctions and things of that nature, but I think it's pretty ordinary," Andrews said in 2015.
About 80 were scheduled for Anzac Day, with 18 held before 1pm.
The Real Estate Institute of Victoria says it was disappointing some vendors and agents had ignored their advice about maintaining respect for the day.
In 2015 Amanda Lynch, chief executive of the Real Estate Institute of Australia says there was a need a nationally consistent position on ANZAC Day opening hours.
The Herald Sun reported the legislation had been mooted in recent times with $16,000 penalties.
 
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Real estate auctions before 1pm on Anzac Day to be banned in Victoria

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The Mark Bouris-chaired Yellow Brick Road has received a takeover bid from veteran corporate raider Sir Ron Brierley's Mercantile Investment Company.
Mercantile advised it was offering to buy Yellow Brick Road for 9c a share in cash - a 3.2 per cent discount to where the stock traded before the bid was made.
Bouris said the bid was “opportunistic.”
He advised shareholders to take no action.
Mercantile owns almost 20 per cent of the poorly performing YBR.
"YBR shareholders who accept this offer will no longer be exposed to the risks and uncertainties of remaining a YBR shareholder," the Mercantile statement said.
"Mercantile OFM and its associates are disappointed with the financial performance of YBR. Mercantile OFM and its associates first acquired a relevant interest in YBR in November 2016, paying $0.145 per YBR share. Since then, the YBR share price has declined by 35.9 per cent," the statement said.
After Mercantile, which holds 19.9 per cent of YBR, the next largest shareholders are Bouris' Golden Wealth Holdings, which has an 18 per cent stake, and the Nine Entertainment Group, which holds 17 per cent.
Yellow Brick Road Holdings Limited says it is on track to become the leading non-bank financial services company in Australia by 2020.
Mr Bouris said the bid was "opportunistic in its nature, timing, pricing."
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Takeover bid by Brierley for Yellow Brick Road

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National builder Vaughan Constructions has won the prestigious industry award, the Master Builder of the Year Award at the recent Master Builders Association Victoria Awards.
The awards, which showcase exceptional craftsmanship and standards of excellence in the commercial building sector, also honoured Vaughan with the award for <a href="https://www.mbav.com.au/2018-excellence-construction-awards">Excellence in Construction of Industrial Buildings</a> for its work on the $165 million Dulux Merrifield Coatings Plant at Mickleham.
Vaughan Constructions Director Mark Byrne said superior ECI project methodology works with the client to achieve the best possible outcome.  
He said ECI (Early Contractor Involvement) meant utilising the builder’s expertise as early as possible in the development process to maximise both cost and operational efficiencies in the design and construction of a building.
"There’s no greater disaster for a client than getting the design they want but one they can’t afford or that ultimately doesn’t meet the desired outcome,’’ Byrne said. 
Vaughan Constructions was engaged under an ECI agreement to complete the base build of Dulux Merrifield (pictured above), a task which was expanded as the project’s design and implementation progressed to also take on responsibility for the completion of the production process fitout.
Dulux Group Project Director, Kevin Worrell, said Vaughan Constructions had completed both the base build and integrated fitout of the Dulux facility which is now the largest coatings factory in Australia and New Zealand. 
Master Builders Victoria CEO, Radley de Silva, praised Vaughan for the Dulux building’s complexity and its ability to remain durable in a harsh, chemical-based environment. 
Vaughan Constructions will now compete at the Master Builders Association National Excellence in Building and Construction Awards at the Adelaide Convention Centre in November. 
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Vaughan Constructions named Master Builder of the Year

An entity directed by HSN's Rafi Assouline and Rebel Property's Allen Linz has filed plans for an impressive new precinct in Woolloomooloo.

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.

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.

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.

<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" />

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>.

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.

<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." />

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.

&nbsp;

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.

<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" />

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.

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.

Rebel had secured approval for the concept plans late last year.

Joel Robinson

First look: HSN, Rebel, advances Woolloomooloo precinct plans

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.

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.

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.

<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" />

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.

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.

<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_" />

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.

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.

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.

<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" />

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.

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.

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.

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

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.

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.

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.

[smartcode_project:default project_id=7395 project_image_fid=278194]

<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.

"<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.

"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."

[smartcode_project:default project_id=7395 project_image_fid=278196]

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.

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.

"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;

"Every apartment was to feel considered, timeless, and highly functional."

[smartcode_project:default project_id=7395 project_image_fid=278195]

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.

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.

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.

"Buyers are looking for spacious, house-like apartments that allow them to downsize without feeling like they are sacrificing comfort or functionality," Hyecorp noted.

"They value large kitchens, generous living areas, ample storage, quality finishes, secure parking, lift access, and low-maintenance living."

[smartcode_project:default project_id=7395 project_image_fid=278204]

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.

Juliet is currently more than 75 per cent sold ahead of its anticipated completion in late 2026.

[smartcode_project_cta:default project_id=7395]

Juliet to sit quietly amid Roseville apartment boom

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.

<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.

The project will introduce a new retail and dining precinct at ground level, beneath 286 apartments.

[smartcode_project:default project_id=150017 project_image_fid=370959]

“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.

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.

[smartcode_project:default project_id=150017 project_image_fid=370964]

“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.

“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.”

[smartcode_project:default project_id=150017 project_image_fid=371430]

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.

Flourish Soleira will also feature the most extensive rooftop amenity offering ever delivered in Palm Beach.

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.

LPS Group is expected to start construction later this year.

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.

[smartcode_project_cta:default project_id=150017]

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

Are mortgage holders set to get a reprieve from the RBA in 2026?

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.

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.

“The next move in the cash rate is likely to be down, but the timing is uncertain," Dr Auld said.

"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.

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.

“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.”

Dr Auld said inflation risks and labour market outcomes would be important to watch.

“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.”

She said tighter financial conditions are expected to weigh on housing and activity.

“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.”

Staff reporter

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