j.ballantyne1990-6AQqhLzZaK

Low inflation keeps the Reserve Bank sidelined: Ryan Felsman

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EXPERT OBSERVER
For the seventh quarter in a row inflation has underperformed market expectations with the headline CPI lifting 0.4% in the quarter compared to an median expectation of 0.5% qtr.
Westpac’s forecast was for 0.4% qtr.
Interestingly the mix of sectors prices was broadly as we had expected with some small downside and upside surprises but the overall print was slightly to the downside of our expectations.
At two decimal places the CPI rose 0.36% in the quarter while our forecast was 0.42%.
Following the December quarter CPI Westpac argued that searching for inflation in the Australian economy has been a fruitless as Vladimir and Estragon’s wait for Godot.
We are now looking at the play having a record run with the ABS for while there may be some anecdotal hints that inflation is around, the ABS is yet to report its appearance in any solid form in the CPI Survey.
Core inflation came in as expected rising 0.5% qtr (0.46% at two decimal places so a soft 0.5%) suggesting that Australian forecasters, as a group, are broadly getting the core inflation pulse corrected but continue to underestimate the deflationary pulse that is hitting certain sectors leading to greater than usual discounting (or less than usual post sales repricing) in those sectors.
The six month annualised pace of headline inflation printed 1.6%yr, down from 2.2%yr in Q1 and the recent peak of 2.5%yr in Q4 2017.
For core inflation, the six month annualised pace is now 2.0%yr from 2.0%yr in Q1, 1.7%yr in Q4 2017and 2.0%yr in Q3.
With core inflation just at the bottom of the RBA’s target band, inflation remains well contained at a very modest pace. This would leave the RBA quite comfortable with the current stance of monetary policy.
Without a doubt the Australian economy remains locked in a low inflation environment. Sectors that are experiencing some inflation –particularly tobacco and auto fuel then to a lesser extent, housing, health and education – are mostly being offset by the disinflationary pressure of the competitive squeeze in consumer goods. There are no signs we are about to experience a broader upswing in prices that you would normally expect to see at this late stage of an economic recovery.
Breaking it down a bit further prices came in broadly as expected with a mix of upside and downside surprises. However, given that the two decimal place print from the CPI was just 0.36%, compared to our forecast for 0.42%, then overall there was a very modest downside surprise in the survey.
Food prices were a touch softer than expected falling 0.4% vs our –0.2% forecast with a larger than expected fall in fruit &amp; vegetables (–2.7% vs –0.5%). Alcohol &amp; tobacco was stronger than expected (1.6% vs 0.6% expected) with a robust 2.8% rise in tobacco prices.
Clothing &amp; footwear came in as expected with a 1.3% seasonal re-pricing while housing costs were close to expectations rising 0.2% vs 0.1% expected. However the mix was very interesting with rents flat (0.2% expected), dwelling purchase rose 0.8% (vs. 0.5% expected) while the fall in utilities was great than expected (–1.2% vs –0.9% expected).
An area where the downside pressure appear to be significant was the smaller than expected seasonal re-pricing for household contents &amp; services (0.3% vs 0.8% expected) while health rose just 1.9% vs. the 2.6% expected this is despite a smaller than expected fall in pharmaceutical (–1.0% vs –1.6%)
Tradables rose 0.5% in the June quarter. Tradables goods rose 0.4% mainly due to automotive fuel (+6.9%qtr), audio, visual &amp; computing media and services (+3.0%qtr), garments for women (+2.2%qtr), and glassware, tableware &amp; household utensils (+3.5%qtr). The tradable services component rose 1.3%qtr due to international holiday travel and accommodation (+1.3%qtr) in response to peak period pricing for Europe and America. Tradables represent approximately 35% of the CPI.
Non-tradables rose 0.3% in the June quarter. Non-tradables goods rose 0.7%, mainly due to tobacco (+2.8%qtr), new dwelling purchases by owner occupiers (+0.8%qtr) and takeaway and fast foods (+0.8%qtr). The non-tradable services component rose 0.2%, mainly due to medical and hospital services (+3.1%qtr) and child care (+1.0%qtr). Non-tradables represent approximately 65% of the CPI.
Low inflation remains embedded in the economy.
We have seen inflationary expectations drift a little higher (we suspect rising fuel prices and until this year, rising power bills are responsible for this) but despite this the ABS CPI Survey again revealed little to suggest that the Australian economy is about to break out of its low inflation trap.
Through 2017, the big story was the rise in energy bills, particularly for electricity but also gas. However, in late 2018 there was a significant change in the wholesale electricity market as the expansion of renewable generation exceeded expectations, and power storage facilities enter commercial application, driving down wholesale prices. Some modest discounting of power bills has been reported and we are expecting this to continue through the remainder of 2018 and into 2019 which was a key reason for the recent downgrade to our inflation profile, for both headline and core, out to the end of 2019.
We will provide a full update on our forecasts in the CPI Economic Bulletin but at this stage, given that the run of soft updates that point to the Australian economy being in a low inflation trap, the risks to these forecasts still lie to the downside.
Justin Smirk is a commodity analyst for Westpac
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CPI inflation is below expectations for the seventh quarter running: Justin Smirk

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A three bedroom house in Spalding, a northeastern suburb of Geraldton, Western Australia, has been offered by mortgagees for $89,000.
It has been listed by Debbie Brittain from Ray White.
It was previously sold in 2008 for $255,000.
It was listed for $260,000 for 540 days in 2015-2017 but failed to sell.
<a href="https://www.realestate.com.au/property-house-wa-spalding-128834538" target="_blank">Positioned at 14 Robinson St</a>, the house comes with three bedrooms, good size lounge room, and fully enclosed back verandah with direct access to lock up garage..
Set on an 809sqm block, other features of the house include paved patio and large backyard with plenty of room for a shed.
The home has returned to 1990's levels of value where it also previously sold for a small loss in 1997 for $85,000 after being sold for $86,000 in 1992.
It is close to schools and shops.
The suburb's median house price sits at <a href="/developments/spalding-wa-6530">$130,000</a>, according to CoreLogic. 
 
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Mortgagee's substantial loss on three bedroom Spalding home

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Situated in the sought-after area of Emu Heights, at the foot of the Blue Mountains, a four bedroom house has been sold for $602,500 by mortgagees.
It was sold by Geoffrey Blaauw from Response Real Estate.
It last sold for $620,000 in 2016.
<a href="https://www.realestate.com.au/sold/property-house-nsw-emu+heights-128168390" target="_blank">Positioned at 27 Matthews St</a>, it features four bedrooms, multiple living areas, and garage space.
The home last sold for $620,000 in 2016 and is only 550 metres from Emu Heights Public School, 270 metres from a park, 2.7 kilometres to Lennox Village shopping centre and 3 kilometres to the Great Western Highway.
The suburb's median house price sits on <a href="/developments/emu-heights-nsw-2750">$710,000</a>, according to CoreLogic. 
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Price dip as mortgagee sells Emu Heights home

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Sydney’s "cult" chicken and burger eatery Chargrill Charlie’s has chosen Camberwell for its Melbourne debut.
Fitzroys' agent Chris James negotiated the long-term 10-year lease for <a href="https://www.realcommercial.com.au/property-retail-vic-camberwell-502644570" target="_blank">10 Prospect Hill Road</a> (pictured above) at $228,000 per annum net.
The building has a 365 sqm ground floor area and sizeable 58 metres of frontage, positioned near Woolworths, Target and Aldi.
Chargrill Charlie’s has operated for nearly 30 years and has 10 locations across Sydney including Woollahra, Mosman and Rose Bay.
James said the long-term lease secured for the prime Camberwell retail space shows the confidence in the area’s revitalisation held by experienced and established operators, spurred by a strong residential development pipeline.
“This large, flexible space, located close to Woolworths supermarket and with frontage to the Market Place car park, attracted strong enquiry from a range of operators, particularly from the hospitality industry,” he said.
James said there has been growing enquiry in the inner-east as developments such as Camberwell Village, Hawthorn Park and others nearby come online.
He also recently negotiated the lease of <a href="https://www.realcommercial.com.au/property-retail-vic-camberwell-502538406" target="_blank">670 Burke Road</a>, just metres away on the corner of Burke Road and Prospect Hill Road, to optometry group EyeQ.
Similarly, the lease was a long-term deal at 7+5+5 years for the 87 sqm ground floor space, at $85,000 per annum net.
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Chargrill Charlie’s to open in Melbourne

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<div>The Queensland rental market has tightened over the year to June 2018.</div>
<div> </div>
<div>The latest quarter reported 24 tight markets, up from 19 tight markets in the March quarter according to the latest report from REIQ.</div>
<div> </div>
<div>Brisbane LGA ’s rental market moved from the healthy range, with vacancies of 3.1 per cent in March, to the tight range, with 2.3 per cent in June 2018.  However, this market is being described by local agents as patchy, with tenants favouring certain pockets over others.</div>
<div>
 The rental markets in Greater Brisbane, including the outer Brisbane regions of Ipswich, Logan, Moreton Bay and Redland, are tight with vacancies in the range of 1.2 per cent to 2.5 per cent.</div>
<div>
 The historically tight markets of the Sunshine and Gold coasts have loosened this quarter, however, they have for the most part remained within the tight range.</div>
<div>
 The Fraser Coast rental market tightened more than 1 percentage point, from 1.9 per cent to 0.8 per cent.  Regional Queensland continued strengthening this quarter, with Toowoomba, Mackay, Bundaberg, and Rockhampton operating within the tight or healthy range.</div>
<div> </div>
<div>Greater Brisbane’s vacancy rates tightened to 2.2 per cent, sitting within the tight range for the first time in nearly three years.</div>
<div>
 The tightest of all markets in Queensland is South Burnett, where vacancies were recorded at 0.5 per cent.</div>
<div> </div>
<div>The tightest major centre rental market is Maryborough, with 0.7 per cent vacancy rate (a tightening of 1.8 per cent) from 2.5 per cent in the March quarter.</div>
<div> </div>
<div>Cassowary Coast is the weakest rental market in Queensland. This market is historically weak but 5.9 per cent is an improvement on recent levels which included 11.5 per cent in December 2017.</div>
<div> </div>
<div>The second weakest major centre market is Townsville at 4 per cent vacancy rate however in March 2017 the Townsville vacancy rate was 6.2 per cent.</div>
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Brisbane patchy, as REIQ reports the increasing tightness of rental markets

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Paper giant Visy Australia has signed a 20-year lease with Frasers Property Australia.
The new $46 million purpose built cardboard manufacturing and distribution centre is situated in West Park Industrial Estate in Melbourne’s western suburb of Truganina.
The state of the art facility will sit on 7.843 hectares of land located at 27 Doriemus Drive.
The facility will be 42,770 square metres.
It includes a 1,025 square metre office and 124 car spaces. 
The facility is now under construction by Frasers Property’s in-house construction division in two stages.
Stage 1 is expected to be completed by September 2018, while Stage 2’s completion date is December 2018.
The industrial park boasts access to the Western Ring Road, Deer Park Bypass and Melbourne’s ports and airport. 
Visy Australia will join several significant groups in the estate including Ceva Logistics, Toll, DB Schenker and National Tiles.
The transaction was brokered by Ben Fahey from Frasers Property, Stuart Duncan from Visy and Michael Green from Cushman Wakefield.
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Visy signs new lease for manufacturing and distribution centre in Truganina 

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Tewantin's Caltex has been sold.
The auction for 44 Doonella Street, Tewantin fetched $3,120,000 with a new 15 year lease.
It last sold at $1.1 million in 1991.
It was listed by Michael Collins and Aaron Dahl from Cushman &amp; Wakefield Brisbane.
<a href="https://www.realcommercial.com.au/property-retail-qld-tewantin-502864998" target="_blank">The property on a 1,199 square metre corner site </a>features 70 metre of frontage, on site parking, and 15 year lease to 2033 plus options to 2053.
The tenant pays all usual outgoings, including Land Tax.
It is close to Tewantin Noosa RSL, Woolworths, BWS, Liquorland, Westpac, CBA, ANZ, and Medical Centre.
Tewantin is a tourist location supported by strong local economic administrative centre including the Noosa Shire Council Chambers and professional services.
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Caltex petrol station in Tewantin sold under the hammer

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One of Australia’s largest hotel portfolios will soon be placed on the market by AccorInvest.
The AccorInvest hotel portfolio is made up of 23 real estate assets and lease interests located across Sydney, Melbourne, Canberra, Brisbane and Perth, together with several major regional cities.
JLL Hotels &amp; Hospitality Group’s Craig Collins and Peter Harper are handling the sale.
The AccorInvest Australian Hotel Portfolio encompasses 17 real estate assets comprising 1,797 rooms of which four are branded as ibis hotels and the other 13 ibis Budget hotels. Notable assets include the ibis Hotel &amp; Apartments Melbourne, ibis Sydney Airport, ibis Budget Sydney Olympic Park and ibis Newcastle. 
The six lease interests include The COMO Mgallery by Sofitel in Melbourne, the Novotel, Mercure and ibis hotels in Brisbane and the Mercure and ibis hotels in Perth. A full overview of the Portfolio is provided overleaf.
All hotels within the Portfolio are currently operated by AccorHotels, Australia’s largest hotel management company, under hotel management agreements. 
“Never before has an offering of this nature been presented to the open market in Australia," Craig Collins, CEO Australasia, JLL Hotels &amp; Hospitality Group, said.
"The pure scale of this portfolio and its diversity – in terms of location, market positioning and income profile - presents investors with an opportunity to immediately establish an unparalleled foothold in one of Asia Pacific’s most highly sought after hotel investment destinations.
“Economy hotels are a highly proven and successful hotel model in the Australian market.
"Their typically low operating costs and high level of profitability make them very attractive investments,” Collins added.
Peter Harper, Executive Vice President, JLL Hotels &amp; Hospitality Group said the portfolio occupy a combined 54,500 square metres of land.
AccorInvest Australian Hotel Portfolio: 
<table border="0" cellspacing="0" cellpadding="0" align="left"><tbody>
<tr>
<td valign="top" nowrap width="142">
Property
</td>
<td valign="top" width="198">
Location
</td>
<td valign="top" nowrap width="40">
State
</td>
<td valign="top" width="53">
Tenure
</td>
<td valign="top" nowrap width="49">
Rooms
</td>
</tr>
<tr>
<td valign="top" nowrap width="142">
Ibis Budget Canberra
</td>
<td valign="top" width="198">
15 Tay Street, Watson (pictured top)
</td>
<td valign="top" nowrap width="40">
ACT
</td>
<td valign="top" width="53">
Ground Lease
</td>
<td valign="top" nowrap width="49">
75
</td>
</tr>
<tr>
<td valign="top" nowrap width="142">
Ibis Budget Campbelltown
</td>
<td valign="top" width="198">
3 Rennie Road, Campbelltown
</td>
<td valign="top" nowrap width="40">
NSW
</td>
<td valign="top" width="53">
Freehold
</td>
<td valign="top" nowrap width="49">
72
</td>
</tr>
<tr>
<td valign="top" nowrap width="142">
Ibis Budget Casula Liverpool
</td>
<td valign="top" width="198">
437 Hume Highway, Casula
</td>
<td valign="top" nowrap width="40">
NSW
</td>
<td valign="top" width="53">
Freehold
</td>
<td valign="top" nowrap width="49">
74
</td>
</tr>
<tr>
<td valign="top" nowrap width="142">
Ibis Budget Coffs Harbour
</td>
<td valign="top" width="198">
1A Mclean Street, Coffs Harbour
</td>
<td valign="top" nowrap width="40">
NSW
</td>
<td valign="top" width="53">
Freehold
</td>
<td valign="top" nowrap width="49">
70
</td>
</tr>
<tr>
<td valign="top" nowrap width="142">
Ibis Budget Dubbo
</td>
<td valign="top" width="198">
Victoria Street &amp; Newell Hwy, Dubbo
</td>
<td valign="top" nowrap width="40">
NSW
</td>
<td valign="top" width="53">
Freehold
</td>
<td valign="top" nowrap width="49">
65
</td>
</tr>
<tr>
<td valign="top" nowrap width="142">
Ibis Budget Enfield
</td>
<td valign="top" width="198">
626-628 Liverpool Road, Strathfield South
</td>
<td valign="top" nowrap width="40">
NSW
</td>
<td valign="top" width="53">
Freehold
</td>
<td valign="top" nowrap width="49">
80
</td>
</tr>
<tr>
<td valign="top" nowrap width="142">
Ibis Budget Newcastle
</td>
<td valign="top" width="198">
3-5 Thomas Street, Wallsend
</td>
<td valign="top" nowrap width="40">
NSW
</td>
<td valign="top" width="53">
Freehold
</td>
<td valign="top" nowrap width="49">
79
</td>
</tr>
<tr>
<td valign="top" nowrap width="142">
Ibis Budget St Peters
</td>
<td valign="top" width="198">
178 Princes Highway, St Peters
</td>
<td valign="top" nowrap width="40">
NSW
</td>
<td valign="top" width="53">
Freehold
</td>
<td valign="top" nowrap width="49">
105
</td>
</tr>
<tr>
<td valign="top" nowrap width="142">
Ibis Budget Sydney Olympic Park
</td>
<td valign="top" width="198">
8 Edwin Flack Avenue, Sydney Olympic Park
</td>
<td valign="top" nowrap width="40">
NSW
</td>
<td valign="top" width="53">
Ground Lease
</td>
<td valign="top" nowrap width="49">
156
</td>
</tr>
<tr>
<td valign="top" nowrap width="142">
Ibis Budget Wentworthville
</td>
<td valign="top" width="198">
377-383 Great Western Highway, Wentworthville
</td>
<td valign="top" nowrap width="40">
NSW
</td>
<td valign="top" width="53">
Freehold
</td>
<td valign="top" nowrap width="49">
102
</td>
</tr>
<tr>
<td valign="top" nowrap width="142">
ibis Newcastle
</td>
<td valign="top" width="198">
700 Hunter Street Newcastle West
</td>
<td valign="top" nowrap width="40">
NSW
</td>
<td valign="top" width="53">
Freehold
</td>
<td valign="top" nowrap width="49">
97
</td>
</tr>
<tr>
<td valign="top" nowrap width="142">
Ibis Sydney Airport Hotel
</td>
<td valign="top" width="198">
205 O'Riordan Street, Mascot
</td>
<td valign="top" nowrap width="40">
NSW
</td>
<td valign="top" width="53">
Freehold
</td>
<td valign="top" nowrap width="49">
200
</td>
</tr>
<tr>
<td valign="top" nowrap width="142">
Ibis Thornleigh
</td>
<td valign="top" width="198">
208-212 Pennant Hills Rd, Thornleigh
</td>
<td valign="top" nowrap width="40">
NSW
</td>
<td valign="top" width="53">
Freehold
</td>
<td valign="top" nowrap width="49">
105
</td>
</tr>
<tr>
<td valign="top" nowrap width="142">
Ibis Budget Brisbane Airport
</td>
<td valign="top" width="198">
18 Navigator Place, Hendra
</td>
<td valign="top" nowrap width="40">
QLD
</td>
<td valign="top" width="53">
Freehold
</td>
<td valign="top" nowrap width="49">
93
</td>
</tr>
<tr>
<td valign="top" nowrap width="142">
Ibis Budget Dandenong
</td>
<td valign="top" width="198">
185-193 Princes Highway, Dandenong
</td>
<td valign="top" nowrap width="40">
VIC
</td>
<td valign="top" width="53">
Freehold
</td>
<td valign="top" nowrap width="49">
71
</td>
</tr>
<tr>
<td valign="top" nowrap width="142">
Ibis Budget Fawkner
</td>
<td valign="top" width="198">
1399 Sydney Road, Fawkner, Victoria
</td>
<td valign="top" nowrap width="40">
VIC
</td>
<td valign="top" width="53">
Freehold
</td>
<td valign="top" nowrap width="49">
103
</td>
</tr>
<tr>
<td valign="top" nowrap width="142">
Ibis Melbourne Hotel &amp; Apartments
</td>
<td valign="top" width="198">
15-21 Therry Street, Melbourne
</td>
<td valign="top" nowrap width="40">
VIC
</td>
<td valign="top" width="53">
Freehold
</td>
<td valign="top" nowrap width="49">
250
</td>
</tr>
<tr>
<td valign="top" nowrap width="142">
The COMO Melbourne - Mgallery
</td>
<td valign="top" width="198">
630 Chapel Street, South Yarra
</td>
<td valign="top" nowrap width="40">
VIC
</td>
<td valign="top" width="53">
Leased
</td>
<td valign="top" nowrap width="49">
110
</td>
</tr>
<tr>
<td valign="top" nowrap width="142">
Mercure Perth
</td>
<td valign="top" width="198">
10 Irwin Street, Perth
</td>
<td valign="top" nowrap width="40">
WA
</td>
<td valign="top" width="53">
Leased
</td>
<td valign="top" nowrap width="49">
239
</td>
</tr>
<tr>
<td valign="top" nowrap width="142">
Ibis Perth
</td>
<td valign="top" width="198">
334 Murray Street, Perth
</td>
<td valign="top" nowrap width="40">
WA
</td>
<td valign="top" width="53">
Leased
</td>
<td valign="top" nowrap width="49">
192
</td>
</tr>
<tr>
<td valign="top" nowrap width="142">
Novotel Brisbane
</td>
<td valign="top" width="198">
200 Creek Street Brisbane City
</td>
<td valign="top" nowrap width="40">
QLD
</td>
<td valign="top" width="53">
Leased
</td>
<td valign="top" nowrap width="49">
296
</td>
</tr>
<tr>
<td valign="top" nowrap width="142">
Ibis Brisbane and Mercure Brisbane
</td>
<td valign="top" width="198">
16 Ann Street, Brisbane City
</td>
<td valign="top" nowrap width="40">
QLD
</td>
<td valign="top" width="53">
Leased
</td>
<td valign="top" nowrap width="49">
412
</td>
</tr>
</tbody></table>
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AccorInvest to sell Australian hotel portfolio

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A newly renovated 100 square metre commercial space at South Coogee has been sold for $800,000.
Built in 1915, it was marketed as suitable for many uses including as medical consulting/physio or wellbeing centre.
It was listed for sale with the price of $950,000 last year.
It was sold earlier this month by Mark Fragias from Ray White Randwick &amp; Bondi Junction.
Situated at 374-376 Arden Street, the internal comes with polished floors.
<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/2018/7/25/south%20coogee%201.jpg" alt="">
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South Coogee premises sold with medical consulting potential

Brisbane-based developer <a href="https://www.apartments.com.au/developers/azure">Azure</a> is has been greenlit for its $115 million residential project within the Gold Coast Health and Knowledge Precinct in Southport

Following the acquisition of the site at <a href="https://www.apartments.com.au/new-townhouses/1-clarke-street-southport-qld-4215">1 Clarke Street</a> in October 2025 with development application Lodgement in January 2026, Azure has been granted approval for the 114 terraces which will form the final stage of the wider Lumina development.

“It’s a fantastic milestone for us to receive the green light on our second Gold Coast project,” said Trent Keirnan, Founder of Azure.

“The Gold Coast continues to evolve, with demand for considered, high-quality residences at an all-time high. This project has been thoughtfully shaped to respond to that demand.

“We’ve worked closely with Economic Development Queensland to bring this project forward, and the collaboration has been both proactive and highly considered. Their shared commitment to quality housing outcomes has enabled a streamlined approvals process and a strong result for the precinct.”&nbsp;

Appealing to a wide demographic, the project will deliver a range of two- and three-storey designs comprising a collection of three-bedroom terrace homes as well as one- and two-bedroom apartment-style residences. The designs by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a>&nbsp;focus on&nbsp;“urban coastalism”.

Residents will have access to an array of lifestyle amenities, including a resort-style pool with multiple lounging zones and landscaped gardens.

The residential offering will support the thriving Health and Knowledge Precinct, which includes Griffith University, Gold Coast University Hospital, Gold Coast Private Hospital and the new RDX Lumina and Proxima Towers, which are home to a range of health, education and research tenancies, including a 200-place childcare centre.

Azure aims for an off-market release for the project in the third quarter of this year, at the same time as construction is anticipated to start.

Joel Robinson

Azure approved for new townhouse development in Southport

Fortis has secured approval for a 57-room hotel at Richmond Square, marking another milestone in the delivery of the $330 million mixed-use precinct in Melbourne's inner east.

The hotel will occupy Levels 1 and 2 of Carmine House and forms part of Fortis' vision for Richmond Square, a precinct that will bring together apartments, hospitality, wellness and lifestyle offerings between Richmond and Cremorne.

Once complete, <a href="https://www.apartments.com.au/new-apartments/richmond-square-1-wiltshire-street-richmond-vic-3121">Richmond Square</a> will comprise 107 residences across Wiltshire House and Carmine House, alongside the hotel, hospitality venues, wellness facilities and a range of services aimed at both residents and visitors.

[smartcode_project:default project_id=13181 project_image_fid=348529]

The approval adds another layer to what Fortis is creating at Richmond Square, as developers increasingly look beyond standalone apartment buildings and towards mixed-use precincts that provide amenity and activation beyond the front door.

Jordan Winada, Head of Acquisitions (Commercial) Victoria at Fortis, said the approval was an important step in delivering the broader vision for the project.

"Richmond Square has always been about creating a destination rather than simply delivering residential apartments," Winada said.

"As buyer expectations continue to evolve, we're seeing increasing demand for developments that offer convenience, connection and access to high-quality experiences and amenity as part of everyday life.

"The hotel approval allows us to further realise that vision and create a precinct where residential living is complemented by hospitality, services and amenity in a way that is rarely seen in Melbourne's CBD and city fringe."

[smartcode_project:default project_id=13181 project_image_fid=348530]

The hotel will also support a range of optional services for residents of Carmine House, including housekeeping and linen refresh programs, laundry and dry-cleaning services, in-residence food and beverage delivery, grocery and pantry stocking services, and concierge assistance.

The approval comes as owner-occupiers continue to dominate Australia's new apartment market, with buyers increasingly seeking developments that offer convenience, flexibility and lifestyle amenity alongside their homes.

Winada said buyers are now placing greater emphasis on the broader precinct and surrounding amenity when making purchasing decisions.

"Residential amenity is no longer limited to what sits within an apartment building. Buyers are increasingly assessing the broader lifestyle ecosystem surrounding their home and the ways in which a precinct can support their day-to-day needs.

"Richmond Square has been designed to provide that experience through a carefully curated mix of residential, hospitality and lifestyle offerings that work together to create a more connected way of living."

[smartcode_project:default project_id=13181 project_image_fid=348534]

The hotel is expected to open in early 2027, with the operator to be announced later this year.

Further hospitality, retail and lifestyle tenants are also expected to be revealed in the coming months as Fortis continues to shape the offering at Richmond Square.

[smartcode_project_cta:default project_id=13181]

Fortis approved for hotel component of Richmond Square precinct

Having successfully expanded into a new region with its Caloundra apartment development, Sunset by Dusk Group, growing South East Queensland developer Dusk Group is again venturing into new territory.

The developer has lodged plans for a 70-apartment project in the Moreton Bay region, to be known as <a href="https://www.apartments.com.au/new-apartments/sunrise-on-sutton-25-sutton-street-redcliffe-qld-4020">Sunrise on Sutton</a>, named after its prime Sutton Street location, just one street back from Suttons Beach.

<img alt="Sutton" data-entity-type="file" data-entity-uuid="88a9f9ee-6ace-47f5-a0c6-8fb134b27e98" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-15%20at%209.20.42%E2%80%AFAM.png?VersionId=iMXmJ7_BNZAmCt.jjupMSLdV_Qa9zJAK" />

Dusk Group Directors Huw Feeney and Anthony Short seized the opportunity to acquire the near-1,800 sqm amalgamated corner site at Sutton and Ella Streets for their first project in the area.

They have again enlisted MAS Architecture Studio, the architects behind Sunset by Dusk, to design the new eight-storey development.

The building will comprise a mix of one, two and three-bedroom apartments and has been designed to maximise views towards Suttons Beach, Margate Beach and Moreton Bay.

Pending approvals, the project could launch before the end of the year.

<img alt="Dusk" data-entity-type="file" data-entity-uuid="90c0c26c-096c-4ceb-8c58-f8303aea542f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-15%20at%209.20.49%E2%80%AFAM.png?VersionId=nw8bqQtpOrf5nA95tuYhtqdB59YUzmO0" />

The development will provide 111 car parking spaces and 40 bicycle spaces.

Positioned within walking distance of Suttons Beach, Bluewater Square, Redcliffe Hospital and the Redcliffe Paceway, the development will sit within one of the peninsula's increasingly urbanised coastal pockets.

Redcliffe's new apartment market remains exceptionally tight, with Gardner Vaughan Group's One Redcliffe currently the only new apartment development actively being marketed in the beachside suburb.

It's another beach-focused development for Dusk Group, who has seen considerable success at its Caloundra apartment development, <a href="https://www.apartments.com.au/new-apartments/sunset-by-dusk-group-caloundra-5-7-bombala-terrace-caloundra-qld-4551">Sunset by Dusk Group</a>.

Over 80 per cent of the 36 apartments have sold ahead of its early 2027 completion.

&nbsp;

First look: Dusk Group targets Suttons Beach precinct with 70-apartment Redcliffe proposal

Leading Brisbane developer <a href="https://www.apartments.com.au/developers/consolidated-properties">Consolidated Properties Group (CPG)</a> has completed and settled $450 million worth of apartments at Monarch Residences in Toowong, marking one of Brisbane’s most significant and prestigious riverfront residential completions in recent years.

The final apartment at Monarch sold at auction on the 30th May for $4.1m.&nbsp;

The milestone has been marked at a ribbon-cutting ceremony at <a href="https://www.apartments.com.au/buildings/monarch-residences-toowong-600-coronation-drive-toowong-qld-4066">Monarch Residences</a>, with Cr Penny Wolff highlighting the importance of completing major residential projects to boost the city’s much-needed housing supply.

The 224 apartments, delivered across two 15-level towers, are now officially in the hands of owners, including Brisbane downsizers, families and professionals who have traded traditional houses for apartment living. The completion underscores sustained demand for absolute riverfront living in Brisbane’s inner west.

<img alt="$450M Monarch Residences sells out as Brisbane riverfront demand surges" data-entity-type="file" data-entity-uuid="56ae05e9-092f-41f0-98a1-a10984fdd171" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/ROBNN_MONARCHLAUNCHEVENT-131.jpg?VersionId=p76J6weGZqseNrE6aOAjmAHUah.y65Gd" />

Monarch Residences was planned and delivered over four years on a 1.2-hectare parcel with more than 130 metres of direct frontage to the Brisbane River, occupying one of the last remaining true riverfront sites of its scale and orientation within close proximity to the CBD. The site has been transformed from an underutilised, derelict block of land, into a thriving residential precinct with Middenbury House at its centre.&nbsp;

Consolidated Properties Group CEO and Chairman Don O’Rorke says the project’s completion represents the culmination of years of careful planning, design collaboration, market conviction and outstanding team delivery.

“We announced Monarch Residences in late 2021 and it’s been one of the most strongly received residential projects in our 45-year history,” Mr O’Rorke said.

"We are incredibly grateful to the outstanding team who helped bring Monarch Residences to life. A special thank you to Hutchinson Builders and their hardworking labour force for delivering a development of exceptional quality that our residents will be proud to call home for many years to come.

“Brisbane City Council and Titles Queensland also played a huge role in getting residents into their homes early through the pilot programs they ran to speed up the approval processes. They understand the challenges of the housing industry and are doing something about it.”&nbsp;

[smartcode_project:default project_id=113455 project_image_fid=211466]

Consolidated Properties Group Head of Residential, James MacGinley said Monarch Residences showed what could be achieved when private industry and government worked together to deliver new housing for Brisbane.

“Monarch Residences has delivered more than 200 new apartments in Brisbane’s inner-west at a time when additional housing supply is critically important,” MacGinley said.

“It’s fantastic to see residents now moving into this landmark riverfront development, which reflects the strength of collaboration between Council and the project team throughout delivery.

“All government agencies played a significant hand in achieving a fast-tracked outcome for Monarch Residences with Brisbane City Council, Urban Utilities, Energex and Titles Queensland assisted to remove hurdles to achieve settlements.”

[smartcode_project:default project_id=113455 project_image_fid=302326]

With Monarch Residences now complete, CPG has launched River Living, a bespoke on-site property management service designed to enhance the resident experience. The service will support all future CPG residential projects, including the recently announced <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> in Yeerongpilly and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a> in Newstead.

The completion also marks the opening of a prized leasing opportunity at the heritage-listed Middenbury House, built in 1865 and which has been carefully restored and integrated into the broader masterplan.&nbsp;

CPG said the adaptive reuse of the landmark riverfront residence presents an opportunity to introduce a complementary boutique tenancy that respects the site’s historic significance while activating the riverfront frontage.

[smartcode_project:default project_id=113455 project_image_fid=211495]

Colliers Director of Residential Andrew Scriven said the move-in phase highlights continued demand for completed premium riverfront apartments in Brisbane.

“Residents are now experiencing firsthand the scale, craftsmanship and irreplaceable riverfront position that Monarch offers,” Scriven said.

“Opportunities to secure a brand-new, completed residence on Brisbane’s absolute riverfront are exceptionally rare. Combined with the proven track record of Consolidated Properties Group and Hutchinson Builders, combined with a design vision brought to life by some of Australia’s leading architects and designers, Monarch represents a unique opportunity to purchase a home of enduring quality and prestige.”

Monarch Residences was designed in collaboration with Melbourne-based architect Wardle Studio, alongside leading national practice Cottee Parker, with construction delivered by Hutchinson Builders.

[smartcode_project_cta:default project_id=113455]

Consolidated Properties Group sells out Monarch Residences as Brisbane riverfront demand surges

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.

Staff reporter

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