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Hassad Australia's Telopea Downs is tipped to have been sold in the largest single farm transaction in Victorian history.
The 47,677ha Telopea Downs Station at Telopea in western Victoria was set to fetch well over $70 million.
The news broke today with Fairfax Media unaware of the details of the buyer.
Telopea Downs was one of the last properties Hassad Australia purchased in 2012.
Hassad purchased the majority of Telopea Downs for more than $35 million and added other land parcels.
Hassad has been selling farms off in the last year, including Kaladbro to the Brinkworth family and more recently Clover Downs to the Zell family for about $27 million.
Last November Hassad Australia announced the sale of 18,000 hectare in three large aggregations — Raby Station in NSW, and Glendale and Ungarra aggregations in South Australia.
Fifteen family operators will be acquiring individual parcels of land from all three aggregations.
Landmark Harcourts agent Phil Rourke, <a href="https://hassad.com.au/raby-stud-nsw/" target="_blank">who sold historic Raby at Warren</a>, confirmed it sold to a consortium of local buyers, who would integrate parts of the 9,782 hectare property into their existing operations.
Hassad Australia also sold a dry land cropping aggregation spanning more than 3,000 hectares in South Australia’s mid-north for $16.2 million. 
Located 29 kilometres north-east of Clare, the Glendale Aggregation is suited to growing wheat, barley, canola, lentils and legumes, as well as grazing livestock. 
 
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Hassad's Telopea Downs offering set for Victorian record

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With subdued and stagnant incomes, more Australians are feeling strapped for cash, and are being forced to dip into their savings to cover the rising cost of living expenses, ME’s latest Household Financial Comfort Report (HFCR) has revealed.
Empty nesters (50 years old and over) reported a record low in financial comfort.
“You may think that empty nesters would have fewer financial worries – most have paid off their mortgage, their kids have flown the coop, the majority are still working and some have voluntarily retired," consulting economist for ME, Jeff Oughton said.
"However, many are still concerned about current finances as well as worried about their life after work, expressing an 8% drop in comfort with their expected standard of living for retirement, as well as a 7% fall in their ‘comfort with savings’.
"Recent changes to superannuation in the past year appear to be significantly impacting this life stage."
The report also pinpointed students reporting a substantial decline in financial comfort of 15% to 4.18 since the last report.
“Students are always among those with the lowest financial comfort in each HFCR due to a lack of comfort with cash savings, investments, net wealth and their reduced ability to manage a financial emergency," Oughton said.
"However, this recording is a major negative spike and can be attributed to falls across most components that make up the Household Financial Comfort Index, in particular ‘level of debt’, ‘comfort with living expenses’ and ‘confidence in the handling a financial emergency’.
Oughton said more households are overspending to cover necessary living expenses and are drawing down on savings, with mortgage and rental stress remaining high.
“Comfort with short-term cash savings was the most notable component of the Household Financial Comfort Index to decline, seeing a 3% decrease to 4.93 out of 10 during the first half of 2018 – its lowest level in a couple of years.”
The report showed that households’ confidence to raise money for an emergency dropped three points below the average since the survey began, and fewer households reported they are saving. The estimated amount that Australians are saving each month decreased by just over 10% during the first half of 2018.
More Australians are also overspending – households who ‘typically spend all of their income and more’ increased 3points to 11% during the six months to June.
“Clearly, this is a potential tipping point. At the moment, Australians generally can dip into their savings to get by. However, some households may get to a point where there’s no more savings to draw from.
"Currently, around a quarter of Australian households have less than $1000 in cash savings,” Oughton said.
“If we see big negative shocks in the coming year, whether they are higher loan rates or an international trade war, then a lot more families will suffer increased financial stress.”
The latest report found that the cost of necessities continues to be the major financial concern for households, with more than half of households reporting it as their ‘biggest financial worry’, up seven points to 53% in June 2018.
Similarly, when asked why their financial situation worsened during 2017– 18, 44% of households said it was due to the cost of everyday items, an increase of four points since the previous report.
Consistent with ABS wage data, the latest HFCR data found nearly half of households (42%) still had the same income as a year ago, while a quarter (24%) reported income cuts and 34% received a raise. Unsurprisingly, ‘comfort with income’ declined in the past year by 2% to 5.61.
Oughton said similar to strengthening in the ABS jobs data, the report revealed increased confidence in people’s ability to find a job; however, high levels of job insecurity and underemployment remain. Around 23% of casual and part-time workers said they would prefer to undertake full-time work if they could.”
In the six months to June 2018, the report’s overall Household Financial Comfort Index went sideways from 5.49 to 5.44, once again indicating that the financial comfort of Australian households is not advancing.
Mortgage and rental stress still high, despite the housing market cooling.
The report revealed housing stress is still prevalent among Australian households.
For those with home loans, a broadly unchanged 45% of households reported to be contributing more than 30% of their disposable income towards mortgages during the past six months – a common indicator of financial stress
"The good news for renters is that financial stress has lessened somewhat during the past six months, thanks to thehousing market cooling and rents falling. While almost three-quarters (72%) of renters were previously contributing over 30% of their disposable income towards rent, this number dropped significantly to two-thirds (67%) in the most recent survey,” Oughton said.
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Empty nesters feeling financial discomfort: ME report

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There's whispers of a $6 million sale off the plan at Mt Buller's Kooroora redevelopment, which snares the Australian snow record away from Thredbo.
The Thredbo record dates back pre-global financial crisis to 2005 when entrepreneur Andrew Roberts paid $3.5 million for the five bedroom chalet, Tussock which was bought from the Melbourne architect Andrew Norbury and his wife Jane Parker, one of the founders of fashion label Country Road.
Norbury had designed the home on Crackenback Ridge, one of Thredbo's highest building blocks.
Set in the heart of the village square, Kooroora is a collection of 21 residences. Five are left in the four storey $35 million Grollo Group project through John Castran.
The site is rich in history having been established in 1953 by brothers Ernest and Aurel Forras in 1953. Their mother and sister came out from Hungry to assist; cooking and serving in the chalet’s dinning room. It burnt down in 1961 and was rebuilt and re-opened for the 1962 winter. 
Kooroora provided the first post war high-end commercial accommodation on the mountain. 
Property mogul Rino Grollo sold his 300 sqm Howqua suite penthouse in the Mount Buller Chalet in 2015 to the Autobarn founder, Garry Dumbrell for $1.7 million.
This article was first published in The Weekend Australian.
 
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$6 million sale off the plan at Mt Buller's Kooroora redevelopment

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Taj on Swan, Perth's notorious building block, has gone under offer following last weekend's auction where the bidding stopped at $15.6 million, with the negotiations apparently getting nearer $17 million.
The abandoned Peppermint Grove home building block of flamboyant billionaire tycoons, Pankaj and Radhika Oswal, listed through Ray White agent Vivien Yap inconjuction with Sotheby's agent Graham Bowie, cost $22.7 million in 2007 when bought from property developer Warren Anderson. 
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<div>Marketed as "the most famous block in Australia" the <a id="LPlnk998012" href="https://www.realestate.com.au/property-residential+land-wa-peppermint+grove-202042586" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">2 Bay View Road site</a> had $30 million hopes two years ago.</div>
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<div>The mansion with Swan River views sat unfinished after the Oswals quit Australia in 2010 amid a dispute with bankers about the wind up and sale of their fertiliser business.</div>
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<div>The Oswal family had controlled WA's $700 million Burrup Fertilisers gas-processing plant</div>
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<div>The Oswals paid $22.7 million in 2007 then starting construction a year later on a "two-storey, Indian-infused luxury residence." </div>
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Taj on Swan sold at Peppermint Grove

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The professional surfer Wade Goodall and wife Jane were among the many vendors who pulled their property from weekend auction, as the auction sales wipeout continues.
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The couple are seeking buyers for their Byron Bay hinterland home having recently secured a larger block just nearby to build a new house.
McGrath Ballina agent Braden Walters had a pre-auction guide of between $1,075,000 to $1.15 million for the modern<a id="x_mcntLPlnk717244" href="https://www.realestate.com.au/property-house-nsw-bangalow-128745214" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable"> Bangalow cottage.</a>
Wade, who is an ambassador with surf fashion label Vans, spent $300,000 in 2014 on the Palm-Lily Crescent building block.
Set some 13 kilometres inland from the coast, their classic Queenslander style home has three bedrooms, two bathrooms and a study nook.
Sydney accounts for the biggest number of withdrawn auction property.
Domain put weekend withdrawals totalling 95 properties on the weekend with 58 in Sydney.
Over the past month, CoreLogic calculate around 20 percent of auction stock has been withdrawn from auction across Sydney, as wave of buyer enthusiasm wanes.
There were 1,316 homes taken to auction across the combined capital cities, returning a preliminary auction clearance rate of 56.2 per cent, according to CoreLogic. 
Auction volumes were down from last week when 1,536 auctions were held, however the preliminary clearance rate edged higher than last week’s final clearance rate which was 55.6 percent. 
Over the same week last year, auction volumes were higher with 1,857 homes returning a clearance rate of 68.2 per cent.
Melbourne's dearest house sale was $3.88 million at Fitzroy North through Jellis Craig. The 1891 home on 584 sqm is known as Moss Vale which last sol in 1977 at $100,000. The <a id="x_mcntLPlnk485410" href="https://www.realestate.com.au/property-house-vic-fitzroy+north-128812842" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">225 McKean Street offering</a> had come with a $3.4 million to $3.7 million price guide, based on the recent $3.8 million sale at 25 McKean Street, an unrenovated home on 600 sqm.
Two families pushed up the bidding to $3.8 million, when the property was declared on the market.
There was a third bidder at the auction, which was over in three minutes
Melbourne's dearest sale was a development site at 71-73 Beddoe Avenue, Clayton which was listed with $3.4 million to $3.74 million hopes. With two original three bedroom houses on an expansive 1483 sqm lot, it fetched $4,258,000.
In Melbourne, a preliminary auction clearance rate of 57.9 per cent was recorded across 628 auctions, down slightly from 58.5 per cent across 802 auctions on the last weekend in July. 
One year ago, the Melbourne clearance rate was a stronger 73.9 per cent across 911 auctions.
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Melbourne had the cheapest sale across the country when a $280,000 pre-auction offer was accepted in Ormond for a one bedroom apartment. Last sold at $112,000 in 1999, <a id="x_mcntLPlnk207438" href="https://www.realestateview.com.au/real-estate/11-50-lillimur-road-ormond-vic/property-details-sold-residential-11981124/" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">11/50 Lillimur Road</a> had recently been a $280 a week rental.
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It had been listed with $250,000 to $270,000 price guidance through Woodards.
There were 456 auctions held in Sydney, the fourth consecutive week where Sydney has been host to less than 500 auctions, returning a preliminary auction clearance rate of 56.1 per cent.
One year ago, 620 auctions had a clearance rate of 66.4 per cent.
Sydney's highest sale was <a id="x_mcntLPlnk169078" href="https://www.realestate.com.au/property-house-nsw-bronte-128797482" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">5 Alfred Street, Bronte</a> at $4,116,000. The deceased estate executors were flexible on their $4.2 million price expectation.
Adelaide had the weekend's best performing clearance rate with a 73.2 per cent success rate across 56 auctions.
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Weekend auction withdrawals signal low buying interest

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Multiplex, a global contractor, has completed the Victoria Racing Club’s (VRC) new $128 million Club Stand at the Flemington Racecourse.
Designed by Bates Smart Architects, the five-level Club Stand (pictured above) is the 10th grandstand to be built at Flemington since 1865.
VRC Chairman Amanda Elliott said the Club is delighted to reach this significant milestone ahead of its hallmark events in the spring racing season.
According to Multiplex, construction of The Club Stand generated an estimated 350 full-time equivalent jobs over the 18-month construction period with a peak workforce of 435 workers on site.
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Approximately 1,500 tonnes of steel were used during construction with one tower crane and up to six mobile cranes on-site each day during the main structural steel construction period.
It offers 360-degree views of the Mounting Yard, race track, Members Lawn, Parade Ring, Betting Ring and Winning Post.
Multiplex recently completed a similar project, the redevelopment of Randwick Racecourse (pictured below) for Australian Turf Club in 2013.
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New Flemington racecourse club stand has been completed

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Designed by architect Eric Trewern, Thongabel, a Coorparoo landmark house recently sold.
Located at <a href="https://www.dixonfamily.net.au/listings/residential_sale-1564302-coorparoo/" target="_blank">4 Welwyn Crescent, Coorparoo</a>, it features a dress circle position atop 860 square metres that captures views of the entire Brisbane City skyline.
The three storey house features multiple living and entertaining spaces that span out to areas with views.
It sold through Dixon Family Estate Agents off market.
The interiors have been renovated with architectural features including Tulip Oak timber floors, Italian tiles and travertine.
There are five bedrooms positioned across two levels of the home, while the parent's retreat opens out to a private balcony.
Other highlights include library, gym, climate controlled wine cellar, formal office, heated lap pool, heated horizon spa and outdoor space for kids to play.
It is only 4 kilometres from the CBD, and within close proximity to state, Catholic and private schools. 
The suburb's median house price sits at<a href="https://www.propertyobserver.com.au/Designed%20by%20architect%20Eric%20Trewern,%20'Thongabel'%20the%20Coorparoo%20landmark%20house%20has%20been%20recently%20sold." target="_blank"> $875,000</a>, according to CoreLogic.
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Landmark Coorparoo trophy house Thongabel sold

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GUEST OBSERVATION
Dick Smith has laid the blame for closing his Australian-made processed food lines squarely at the feet of Aldi Australia.
He accused the German retailer of “extreme capitalism” and warned the CEOs of Woolworths and Coles that “unless your companies move towards [Aldi’s limited range and high proportion of private brands], you will very likely become uncompetitive”.
But this betrays a fundamental misunderstanding of Aldi’s strategy and the limits of its appeal in the Australian market.
An important element of Aldi’s strategy is a severely limited range of “preselected” products, overwhelmingly private brands. The company’s smaller range (some 1,500 store-keeping units as opposed to 20,000 to 30,000 in a large Coles or Woolworths outlet) has several advantages – in terms of store footprints, warehousing infrastructure and supplier discounts, to name a few.
A proportion of these savings are passed on to consumers to ensure their appeal with households wanting to stretch their shopping dollars further.
This strategy and disciplined execution propelled the company’s growth.
From its first two stores in the Sydney suburbs of Marrickville and Bankstown, Aldi gradually expanded across the eastern seaboard. It was not until 2016 that Aldi started opening stores in South Australia and Western Australia.
These new territories promised significant growth opportunities while store openings in the established territories were largely restricted to gap-filling.
By 2018, Aldi was operating more than 500 outlets around Australia and claiming roughly 13% of the Australian supermarket industry. Aldi’s gain in market share has overwhelmingly come at the expense of the smaller, independent supermarkets (IGA-affiliated as well as others).
Coles and Woolworths have chiefly responded to Aldi through price cuts and by boosting their share of private brands. While competition in the Australian supermarket sector has increased, it remains a lucrative oasis in comparison to international markets.
Low-hanging fruit is gone
As its stores now span the entire nation, Aldi’s growth can be expected to slow down. The company is unlikely to “turn on” and overwhelm Coles and Woolworths, as Smith predicts, because of the inherent limitations of the Aldi formula.
Aldi has successfully appealed to a particular segment of the market. It is a segment of shoppers prepared to trade low prices (coupled with sound product quality) for a variety of conveniences offered by traditional supermarkets. These shoppers readily accept Aldi’s highly restrictive range of product, the lack of manufacturers’ brands, and austere stores with minimal service at the cash register or in store.
The company has also been successful in expanding this segment, by convincing a growing number of people to do at least part of their shopping with Aldi and accept the trade-off at the heart of its offering.
But the majority of Australian shoppers prefer to do (the bulk of) their shopping with the two incumbents (Coles and Woolworths who still account for more than two-thirds of the market) as well as a shrinking number of independent supermarkets and a growing set of alternative sources such as farmers’ markets or subscription-based retailers (Costco).
Strategy has limits
Aldi exemplifies strategy scholar Michael Porter’s dictum that the essence of strategy is choosing what not to do. In embracing the “Aldi way”, the company has made hard strategic choices. Its strategy appeals to a sizeable segment of the Australian public.
But it’s turning away shoppers who value things other than what’s on offer at Aldi – larger choice, established brands, more service, plusher stores, in-store bakeries and delis or expanded fresh food sections. As a result, Aldi’s growth in Australia is going to reach its limits.
As far back as 2016, CEO Tom Daunt acknowledged that growth opportunities were slowing in existing territories. He also acknowledged the onset of cannibalisation between existing Aldi stores, a sure-fire indicator that their segment was becoming saturated:
"Increasingly those stores on the eastern seaboard are less often in virgin catchments and more often than not for the majority of those stores there is some impact on other existing Aldi stores."
A recent UBS report also picked up the increase in cannibalisation among Aldi stores. UBS analysts suggested Aldi store cannibalisation in South Australia and Western Australia was reaching levels not far behind the more established territories.
This indicates that saturation might be achieved sooner in new markets, and puts growth objectives in these states in doubt.
Since its arrival in 2001, the company has benefited the Australian public by injecting much-needed competition into the local grocery retail scene, thereby boosting Australian consumers’ spending power. While its success is testimony to the appeal of the Aldi formula, growth will inevitably peter out and the company will not overrun Australia’s existing retail giants.
<img src="https://counter.theconversation.com/content/100671/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">Aldi’s experience in Australia exemplifies the benefits as well as the limitations of clear and focussed strategy.
Tom Osegowitsch, Senior Lecturer, International Business and Strategic Management, University of Melbourne
Angela McCabe, Lecturer, Management, La Trobe University
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/the-secret-to-aldis-success-is-choosing-what-not-to-do-100671" target="_blank">original article</a>.
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The secret to Aldi's success is choosing what not to do

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The first half of 2018 has seen a major shift in Adelaide's retail environment, according to the latest report from Herron Todd White (HTW).
The financial valuers stated that for the first time in 16 years South Australia has a Liberal Government, who have long advocated for extended trading hours.
Currently, shops in the Adelaide CBD or tourist precinct are allowed to trade during public holidays and these factors among others may assist brick and mortar retail to compete with the online space.
Infrastructure spending has also continued in South Australia following the change of Government, noted the report.
The Torrens to Torrens, Darlington Upgrade and Northern Connector, which all form part of the government’s North South Corridor are still undergoing construction and are a combined expenditure of $2.3 billion.
There has also been the approval of the current construction of a new Bunnings Warehouse on South Road in Edwardstown, creating a 17,008 square metre super store.
The $45 million Bunnings outlet will be completed early next year.
The report notes that "a part of the infrastructure spending taking place is a planned $174 million upgrade of the Oaklands Crossing (rail/road grade separation), which surrounds the Westfield Marion Shopping Centre".
"True to form, the bulk of the retail development is occurring in the Adelaide CBD, which has seen a sharp increase in the amount of residential accommodation under construction."
In January, it was announced that the $40 million redevelopment of Rundle Mall Plaza will house the new tenant, H&amp;M, across four storeys, Rundle Plaza was constructed in the 1960’s for David Jones. 
"In respect to Retail growth, the story over the last few years has been heavily weighted toward supermarkets such as Aldi who have opened 23 stores since entering the market in 2015," stated the valuers.
The 23rd was a centre at 209 Port Road, Aldinga, anchored by Aldi which was completed in January 2018.
There are more on the way with Aldi recently securing another site in Adelaide’s South East suburb of Blackwood, with the purchase of the Blackwood Village Shopping Centre for $5.5 million.
The Westfield Tea Tree Plaza Shopping Centre is also being extended and there are upgrades planned for Westfield Marion, which will take place in 2019.
Despite this, research undertaken by numerous outlets is positive and the retail trading environment seems to be improving in South Australia with retail spending being the second highest in the country in February 2018, reaching 3.7% compared to the national average of 2.7%, the report concluded.
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Adelaide's new north-south corridor constructions worth $2.3 billion dollars: HTW 

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The quickest path for first home buyers to purchasing a house in Greater Hobart is Brighton, according to a report released this week by Domain.
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For those looking to buy a home, Greater Hobart is one of the most accessible capital cities in Australia with the lowest entry price for houses.
"However, when LGAs are considered, accessibility is driven by the affordable outskirts," the report said.
The LGA of Hobart takes approximately 6.3 years to save for an entry price home deposit, which is almost on par with the average time to save for a deposit in Greater Sydney (6.7 years).
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Indicative of Brighton's price potential, 23 Andrew Street, Brighton (pictured above) the two bedroom, one bathroom house sold for $230,000 last month.
However even though Greater Hobart requires the shortest time to save of all the capital cities, this has increased by three months for houses and four months for units compared to last year, a result of a strong, growing market outpacing wage growth.
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Brighton ranked the quickest FHB path to house ownership in Greater Hobart: Domain

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.

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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.

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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.

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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.”

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