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Centuria has settled on its 80 Grenfell Street, Adelaide purchase with half of the property to be held in a single asset fixed-term unlisted fund.
 Demand for the fund was unprecedented with the offer closing 200% oversubscribed in only four and a half days. 
Centuria raised $57.1 million, with 30% coming from major overseas investors. 
Jason Huljich, head of real estate and funds management for Centuria, said Adelaide offers some of the best value in the country right now.
"The infrastructure pipeline for South Australia will drive economic and job growth…the $90 billion submarine and frigate contract is forecast to create up to 8,000 direct and 25,000 direct roles," Huljich said.
He added as of 1 July stamp duty was zero in South Australia, "which means transaction costs are significantly lower than in other states”.
It is one of the Adelaide CBD’s most high tech buildings added to its $4.7 billion portfolio.
The ASX listed Centuria Capital Group has exchanged unconditional contracts for the purchase of a 50% stake in the Bendigo and Adelaide Bank headquarters at 80 Grenfell Street for $92.3 million. 
Acquisition of the $184.6 million office tower was made in partnership the Lederer Group, which will take up the remaining 50% stake.
80 Grenfell Street is a A-grade office building, that is 96% let to Bendigo and Adelaide Bank.
The weighted average lease expiry (WALE) is long, at 7.3 years and rental increases are fixed at 3.75% annually.
Huljich said the Adelaide market has become increasingly attractive to property investors.
“The SA government’s decision to reduce stamp duty has been a positive strategic move to help drive investment into the state,” he said. 
“Compared with other states, where stamp duty averages 5.5%, SA’s is zero from July 1. 
“When transaction costs are lower, yields are higher, which means better returns for investors.”
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j.ballantyne1990-6AQqhLzZaK

Zero stamp duty benefits Centuria's purchase of Bendigo and Adelaide Bank HQ in South Australia

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The Hilton Surfers Paradise, comprising the Hilton Hotel and the management rights for the Hilton Residences, is being marketed for sale with a price tag of about $80 million after its Chinese based investors decided to sell.
The privately owned company Ji Feng bought the five star hotel from Brookfield in 2011 for about $37 million.
It is reported the vendor has no other commercial property interests in Australia.
The hotel, once part of the failed Raptis company, comprises 169 guest rooms, four food and beverage outlets, conference facilities, pool deck, two gyms, a day spa and 89 undercover car parks.
<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/2018/7/24/HILTON%202.jpg" alt="">
A strong rebound in tourism and hotel occupancy sees the Gold Coast market recording revenue growth per available room in the year to date up 15.6% on the same comparative period last year.
The listing agent Sam McVay said the new owners had the opportunity to replace Hilton as the manager.
The hotel spreads across two towers and is offered with the associated management rights for the Hilton Residences.
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Hilton Surfers Paradise listed with $80 million price tag

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Temple &amp; Webster, which suggests it was becoming "the next Harvey Norman" has reported its inaugural profit.
It claims to be Australia’s largest e‐commerce company in the furniture and homewares market.
Temple &amp; Webster has over 130,000 products on sale from over 700 suppliers.
Temple &amp; Webster earned $300,000 before interest, tax, amortisation and depreciation in the June-half following a 24% rise in revenues.
The company finished the year with a cash balance of $9.9 million and had net cash flows of $600,000 in the June quarter.
"[Two] years ago we promised our shareholders we would reach profitability during calendar year 2018 without having to raise additional capital, and I am proud to say that we achieved this goal," Coulter said in a statement on Monday.
He expected Temple &amp; Webster to be EBITDA positive in 2019, eight years after its launch in 2011 and two year after being floated in 2016 with its management team, including Mike Henriques (former Wayfair Australia GM) and Sven Lindell (ex Bras N’ Things, Woolworths and Rebel).
Temple &amp; Webster shares rose 7% to 76¢, compared with their issue price of $1.10.
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E-commerce furniture and homewares store Temple & Webster makes its inaugural profit

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Lendlease has reached structural completion of the world’s tallest and largest engineered timber office building, 25 King, at Brisbane Showgrounds.
Designed and manufactured by Lendlease and owned by Impact Investment Group (IIG), the ground floor plus nine-storey timber commercial tower features open and flexible office space.
Lendlease is targeting a 6 Star Green Star rating, 5 Star NABERS Energy rating and WELL Core &amp; Shell rating for the 25 King Street tower.
Global engineering firm, Aurecon, will occupy 43.5% of the net lettable area, with IIG working within Lendlease to secure new tenants for the remaining office space.
<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/2018/7/25/25%20King%20Street.jpg" alt="" style="font-size: 12.16px;">
25 King (pictured above) is on track for completion later this year.
"The topping out of 25 King represents another significant milestone in the completion of what will be the world’s tallest and largest engineered timber office building by gross floor area," said Tony Orazio, General Manager QLD &amp; NT, Lendlease Building.
“With each new milestone, we get more and more excited about this brilliant building. 25 King is the definition of a connected, collaborative workspace for high-performance teams,” stated Darren Brusnahan, Head of Funds Management – Real Estate, Impact Investment Group.
JLL has been appointed to manage 25 King Street, the world’s largest engineered timber office building. 
It is a Queensland first and the world's largest by gross floor area.
The management role will be led by JLL Director and Head of Commercial Management, Lydia King. 
At a height of almost 45 metres, the ground plus nine-storey tower designed by architect Bates Smart will become the future home of global engineering firm Aurecon, which is also the project’s lead engineer. 
Aurecon has committed to 6,500 square metres on a 10-year lease. 
Aurecon was advised by JLL's Michael Greene, while Lendlease was represented by JLL’s Adam Barrett and Sam Barr. 
The tower includes three bespoke ground level retail tenancies built using a revolutionary building timber technology called cross laminated timber (CLT) and glulum (glue laminated timber) which has a structural strength akin to traditional concrete and steel.
Constructed with wood, CLT has a far lower carbon footprint than other building materials, the production process produces zero waste, and timbers are sourced from certified sustainably managed forests.
King said 25 King Street represented the next generation of workplace design. 
“25 King is targeting a 6 Star Green Star Design and As Built v1.1 and a NABERS Energy 5 Star rating," she said.
The building will be LendLease’s fifth engineered timber building in Australia.
JLL also manages Kingsgate, the first tower developed by LendLease at the RNA precinct. 
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World's tallest timber tower reaches structural completion in Brisbane

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A jail term has been suspended for a real estate leasing agent in Sydney after he pleaded guilty to stealing more than $210,000 worth of rental bonds refunds while the tenants were still in occupation.
Matthew Thomas Williams was sentenced to two 15-month jail terms for dishonestly claiming the refunds of 42 rental bonds from the NSW Rental Bond Board. 
The jail term was suspended on the condition that the 36-year-old enter a good behaviour bond.
He was disqualified from holding a real estate licence for a period of 10 years.
As a real estate licence holder, Williams had access to the Rental Bonds Online system that enabled him to lodge rental bonds on behalf of his agency’s tenants, which he later refunded into his own account during ongoing leases.
Williams fraudulently accessed the bonds while working at different real estate agencies based initially in Glebe and then Double Bay.
The Minister for Better Regulation Matt Kean told Fairfax Media that Williams had used his position of trust to claim the rental bonds of tenants, and used the money primarily for gambling.
His deception was uncovered and reported to Fair Trading by his employer after a tenant requested a bond refund.
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Jail term suspended for Sydney inner west leasing agent after rental bond fraud

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Thousands of Australian mortgage holders are likely ‘trapped’ with their current lender, due to tighter lending restrictions, the comparison site Mozo has found.
It leaves them unable to negotiate or refinance their home loans. 
“A mortgage prisoner is a homeowner who is unable to move to a more competitive mortgage deal, even if they’ve met every repayment, because they would not pass new affordability tests applied by the banks,” says Steve Jovcevski, Mozo property expert.
"Typically, this is because they took out the loan before stricter lending rules applied. 
“Stricter lending criteria was introduced for good reason, with skyrocketing household debt, poor income growth and historically low interest rates. 
"The flow on effect is 30% of owner occupier borrowers are now finding themselves facing mortgage stress – and many are also falling into the mortgage prisoner’ category.
"The sad reality is borrowers who need competitive mortgage rates to stay financially afloat are most likely to be mortgage prisoners.”
He noted there had been generous lending standards in the past, that was now up against rising cost of living and stagnant wages.
"With an increase in interest rates likely to grow over the next few years this group is predicted to grow, meaning a large group of banking customers will be effectively 'stuck' with their bank. 
“When a customer is essentially tied to a provider, they are at the mercy of whatever rate rise or conditions the bank chooses to impose,” says Jovcevski who gave an example of how  mortgage prisoner arose.
He nominated a couple with one dependent and a dual income of $120,000 who purchase a home in 2013, borrowing a total of $800,000.
Their monthly repayments are $4,295 which leaves them $3,680 to manage their other expenses.
Fast forward five years, the couple now has a combined salary of $129,000 and they've had another child.
They're still paying the same amount each month, have $734,600 left to pay off, and would like to refinance to another bank that’s offering a rate of 3.8% rather than staying with their current uncompetitive home loan rate of 5%.
When they first applied for their loan the bank used a poverty line index to estimate their costs ($3,276 per month) with a buffer of 1.5% to ensure the couple could meet their repayments if rates increase.
The bank now uses their actual monthly expenses which they’ve assessed as being $4000 per month, and applies a 2% buffer to safeguard themselves against rate rises.
With the new criteria the couple could only borrow $680,000, so do not have the ability to refinance their loan, leaving them at the mercy of any rate hikes from their bank. 
"If this family was able to refinance to a competitive rate of 3.8%, they could potentially save $149,272 over the course of their loan.
"Due to the loan assessment changes they are unable to refinance to their desired lender,” says Jovcevski noting the banks used to assess potential homebuyers seeking a loan using a ‘house expenditure measure’.
It now looks at the applicant's income and annual expenses - this is everything from utility bills to Netflix subscriptions to monthly beauty treatments.
"Previously, a ‘one size fits all’ approach was applied, with modest expen ses estimated regardless of income, resulting in inflated amounts being lent to hopeful homebuyers." 
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Tighter lending means 'mortgage prisoners' on the rise

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Dyldam, the apartment builder, has partnered with Kohab to enable more buyers to get into the property market.
Kohab is a digital platform and market place for co-ownership.
The initiative centres on the development Opera Merrylands at 288 Pitt Street. 
The partnership with Kohab will see buyers offered a $10,000 discount on apartment prices, with one-bedroom apartments starting at $520,000. 
Kohab’s digital platform encourages co-owners to purchase a property as tenants in common, splitting the title and obtaining the right co-ownership agreement, mortgage and insurances to become property owners alongside like-minded individuals. 
Remon Fayad, the chief operating officer of Dyldam, says partnering with Kohab continues its commitment to helping Australians access the property market.  
David Dawson, CEO and co-founder of Kohab said Kohab was founded through our desire to get more Australians into more homes.
"We have partnered with Dyldam to enable more Australians to get onto the property ladder by facilitating their co-ownership journey,” Dawson says.
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Dyldam partners with Kohab to encourage co-ownership at Opera Merrylands

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GUEST OBSERVATION
Recent Australian migrants are buying into the Great Australian Dream of home ownership. But rates of home ownership among recent migrants are falling, as they are among all Australians. Unless we build enough housing to match Australia’s growing population, all Australians, including migrants, will pay the price.
A recent data release by the Australian Bureau of Statistics (ABS) shows 54% of permanent migrants aged 15 and over own their home, compared to 67% of Australians overall. Since migrants tend to be younger than native-born Australians, and younger people are less likely to own their home, migrants have broadly similar rates of home ownership to native-born Australians of the same age.
And the facts do not support the idea that substantial numbers of migrants to Australia are relying upon on public housing. Just 2% of all permanent migrants arriving since 2000 are living in public housing, compared to around 4% of the overall Australian population.
<img src="https://images.theconversation.com/files/228732/original/file-20180723-142420-vp84e5.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
Home ownership is highest among migrants granted permanent residency under the skilled (57%) and family (58%) visa streams, compared to just 31% among those on humanitarian visas. Comparatively high rates of home ownership among permanent migrants is unsurprising: skilled migrants in particular tend to earn higher incomes than native-born Australians.
Permanent migrants also appear to be relatively well housed. Just 13% of permanent migrants have too few bedrooms in their home, compared to 22% of all Australians. But one-third of humanitarian migrants granted permanent residency need more bedrooms.
But recent migrants are becoming less likely to own their homes. Only one-third of arrivals over the past five years own their home today. That’s down from 41% in the period before the 2011 Census.
The fall in home ownership has been highest among skilled migrants: just 31% of recent skilled migrants owned their homes, compared to 41% of recent skilled migrants at the time of the 2011 Census. In part this may be because migrants over the past ten years have been younger than migrants in the past. But it also shows that migrants are not immune to the housing affordability woes affecting all Australians.
<img src="https://images.theconversation.com/files/228733/original/file-20180723-142408-18jfbnu.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
Newly arrived migrants have always been less likely to own their own homes. Only one-third of migrants arriving since 2012 own their home, compared to almost two-thirds of permanent migrants who arrived in Australia before 2012.
But it’s clear that worsening affordability is a major culprit. The prices of cheaper homes have grown much faster than for more expensive homes over the past decade. This has made it much harder for first home buyers to buy a home.
While record low interest rates make mortgage repayments affordable today, these are likely to rise. And it now takes around ten years to save a 20% deposit for an average dwelling, up from around six years in the early 1990s.
We haven’t built enough homes
While interest rates are the largest driver of rising house prices in recent years, a lack of new homes hasn’t helped. Over the last decade, home building did not keep pace with increases in demand from rising population, let alone rising incomes.
Migration increased substantially from about 2006. Australia’s population started to grow by around 350,000 per year, rather than the 220,000 per year that was typical in the preceding decade.
Dwelling construction fell behind population growth, only picking up from 2013. According to Census data, population growth outstripped growth in the number of homes across Australia between 2006 and 2016, and especially in New South Wales, Victoria and Queensland.
<img src="https://images.theconversation.com/files/228734/original/file-20180723-142432-1mdb6cn.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
Recent analysis claiming that housing construction outstripped population growth over the period 2005-06 to 2014-15 uses building approvals without accounting for the demolition of existing homes. It also ignores how rising prices and worsening affordability have prevented many younger Australians from moving out of the family home to form households of their own.
The imbalance between demand and supply has consequences. Younger and poorer households are paying more for housing. Owning a home depends more on who your parents are, a big change from the early 1980s.
Only in the past couple of years has housing construction got close to matching population growth; the backlog of a decade of undersupply remains. Development at today’s record rates is the bare minimum needed to meet record population growth built into Sydney’s and Melbourne’s housing supply targets over the next 40 years.
What should we do?
In post-war Australia, record rates of home building matched rapid population growth. House prices barely moved.
Building more housing will improve affordability the most – but slowly. Even at current record construction rates, new housing increases the stock of dwellings by only 2% each year. But building an extra 50,000 homes a year nationwide for a decade would lead to national house prices being around 10-15% lower than otherwise, and by more if most homes were built in our major cities.
State governments need to fix planning rules to allow more housing to be built in inner and middle-ring suburbs. More small-scale urban infill projects should be allowed without council planning approval. And state governments should allow denser development “as of right” along key transport corridors – that is, without requiring approval in designated zones.
The Commonwealth can help by providing financial incentives for these reforms.
<img src="https://counter.theconversation.com/content/100246/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">Migrants are often blamed for Australia’s housing woes, and there’s a clear link between strong migration, constrained housing supply and rising prices. But the new data show that recent migrants are also suffering from worsening housing affordability. And housing demand from immigration shouldn’t lead to higher prices if enough dwellings are built to match Australia’s growing population.
Brendan Coates, Fellow, Grattan Institute
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>.
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Migrants are still buying into the home ownership dream, but it's more elusive

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GUEST OBSERVATION
The National Broadband Network (NBN) should be built and fully operational by 2022, having cost about A$50 billion. The question will then be whether the government should retain the NBN or sell it off.
The current government has laid the groundwork for NBN to be broken up and sold off. But this could end the NBN’s positive disruption of the telecommunications market, which includes lower prices, increased competition, improved access for consumers and more services being offered.
In a recent paper I outlined four options for the NBN:
<ul>
<li>government retains the NBN</li>
<li>sell NBN as a single entity</li>
<li>disaggregate NBN technologies and sell them separately</li>
<li>disaggregate NBN technologies, excluding satellite and fixed wireless, and sell off separately.</li>
</ul>
Breaking up the NBN could result in the creation of geographic monopolies, hurting rural and regional consumers especially.
Telstra’s recent decision to hive off its infrastructure into separate companies gives Australia the opportunity to do what New Zealand has done: create a new, publicly listed company that contains the NBN and parts of Telstra’s infrastructure.
But there is a valid argument for the government to retain NBN Co. as a government enterprise beyond the NBN rollout.
The NBN has brought about an unprecedented period of positive change in the telecommunications market. But there is more to be done, including a further reduction in the digital divide between urban and regional and remote areas, and upgrading from fibre to the node to fibre to the curb or fibre to the premises.
By retaining ownership of the NBN for the next decade, the government could provide a stable level playing field upon which the telecommunications market can thrive.
For the major carriers, the focus over the next decade will be to build competing 5G networks. The sale of the NBN during this time could return the industry to the chaos that existed before the NBN.
Who would buy the NBN?
The first major concern for anyone buying part of the NBN is the A$15 per customer per month paid to Telstra for a majority of the fixed connections to the NBN.
This is a payment for the use of Telstra’s existing infrastructure, such as the ducts that run along streets and the telephone exchanges where NBN systems are now located.
This payment is a major impediment to the NBN having a successful business model. There is some doubt whether Optus, Vodafone or TPG would bid for part of the NBN knowing that they would be required to make a monthly payment to Telstra for most of the customers they connect.
Telecommunications networks are a “natural monopoly”, similar to roads, rail, gas and electricity. This is because of the high startup costs of building the networks, especially for the segments closest to homes and businesses (also known as the last mile).
In high-value urban areas it is possible to build financially viable infrastructure that competes with incumbents. But this does not solve the problem of competition in lower-value outer urban, regional and remote areas.
No solution to this problem has been forthcoming. This is one of the reasons the NBN came into being in the first place.
How do you break up the NBN?
Outside of the high-value urban areas there is no guarantee of infrastructure-based competition, so regulation is required to ensure broadband in those areas keeps up with what is offered in the high-value urban areas.
The government has already introduced a levy to subsidise the cost of providing broadband in regional and remote areas. But more needs to be done to ensure regional and remote telecommunications is improved continuously.
Breaking up the NBN will also likely result in smaller geographic monopolies, with different technologies used in each network – fixed wireless, satellite and transit etc.
So rather than have one infrastructure monopoly (NBN Co.) wholesaling products and services, we could end up with the bigger telcos becoming monopoly providers by purchasing one or more of the technology footprints.
Consumers, especially those in regional and remote areas, will likely be hit with steep price rises with the end of uniform national wholesale pricing.
The New Zealand option
Telstra has announced that it is creating a standalone company called InfraCo, that will be:
"accountable for our copper and HFC networks; all our fibre network that is not dedicated to supporting mobiles; all ducts, pits and pipes; property including exchange buildings and data centres; and international and domestic subsea cables. These assets will be combined with Telstra Wholesale and the teams in Telstra Operations that provide services to NBN Co."
This provides Telstra with the opportunity to participate in the future sale of the NBN. Telstra could spin off InfraCo as a separate ASX-listed company, take on infrastructure investors for a future purchase of the NBN, or part of the NBN, and effectively follow what happened in New Zealand with Telecom New Zealand becoming Spark (retail/mobile) and Chorus (wholesale).
If Telstra splits into two ASX-listed companies so that InfraCo can purchase the NBN, the result would be a company with about A$10 billion in revenue and A$30 billion in infrastructure assets. This would be a viable company that is able to service the government debt repayments while making a reasonable return to shareholders.
It is likely this outcome would be more palatable to the rest of the telecommunications industry because the positive disruption to the market caused by the NBN would continue.
If the NBN is sold off, the focus must shift to the telecommunications legislation and regulations, setting a minimum broadband connection speed and capacity that infrastructure wholesalers are to provide without penalty, and focusing on how to further reduce the digital divide between urban and regional and remote areas.
The key for a future government decision on what to do with the NBN is that it should not be considered in isolation. There are a number of linked issues, including the universal service obligation, universal access, foreign ownership restrictions and wholesale competition.
Mark A Gregory, Associate professor, RMIT University
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/what-should-be-done-with-the-nbn-in-the-long-run-99294" target="_blank">original article</a>.
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What should be done with the NBN in the long run?

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EXPERT OBSERVER
How did imaginative planners past envision the future?
<img src="https://images.theconversation.com/files/222918/original/file-20180613-153645-1muyq2a.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="File 20180613 153645 1muyq2a.jpg?ixlib=rb 1.1">
Some fanciful plans were imagined for Melbourne back in the day – some included jet cars.
Imagine for a moment a vast underground rail network that stretches as far as Melbourne’s suburban fringes. Trains arrive and depart every five to ten minutes, a station entrance is never further than a 15-minute walk away, and you don’t need to catch a train into the CBD and out again to travel between east and west, or north and south.
Trams are separated from road traffic. Cyclists are separated too, by reorganising lanes so parking spaces and bike lanes switch sides. That’s the dream, right?
There have been many dreams for Melbourne since European occupation. Plans for an immense extension to the grid of streets making up the CBD, a significant expansion of railways, and <a href="https://participate.melbourne.vic.gov.au/future/history-future-imagining-melbourne" target="_blank">daily jet-car</a> commutes were just some of ideas past planners presented to feed our imaginations.
Looking back at Melbourne’s planning history, we might be able to find some inspiration to deal with rapid growth by thinking outside the box.
Extending the CBD
The Melbourne CBD square bordered by Flinders Street, Spring Street, La Trobe Street and Spencer Street is known as the Hoddle Grid. This <a href="http://www.emelbourne.net.au/biogs/EM00677b.htm" target="_blank">grid was laid out</a> when there were fewer than 200 settlers, but is now the centre for a city of nearly 5 million people.
<a href="https://images.theconversation.com/files/226414/original/file-20180706-122280-10r8150.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/226414/original/file-20180706-122280-10r8150.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" alt=""></a>
The Melbourne swamp was a large saltwater lagoon located to the immediate west of the present CBD.<a href="https://upload.wikimedia.org/wikipedia/commons/9/95/Before_1880.PNG"> </a>
Numerous proposals in the late 19th century aimed to extend the Hoddle Grid. These often focused on repurposing the West Melbourne swamp (a large saltwater lagoon to the immediate west of the city which was fully drained in 1890) to join the Yarra River to accommodate a network of shipping canals.
Engineer <a href="https://participate.melbourne.vic.gov.au/future/history-future-imagining-melbourne" target="_blank">John Millar proposed</a>, in 1860, to extend the grid westward into Port Melbourne (then called Sandridge). Most famously this proposal is remembered for Millar’s idea to redevelop the swamp (which had already been partially drained) into a botanical garden to resemble the British Isles. The intention was to preserve and cultivate plants native to England, Scotland and Ireland.
He made provisions for large ships to have docking areas, and for parks, gardens and ornamental grounds. This plan was lost in the flux of the times. Had it been realised, it would have drastically reshaped the young city and provided a still lacking interconnectedness with the western parts of the inner city.
<a href="https://images.theconversation.com/files/224340/original/file-20180622-137725-5t6f6c.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/224340/original/file-20180622-137725-5t6f6c.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a> J
John Millar wanted to extend the city westward and drain the swamp. <a href="http://digital.slv.vic.gov.au/view/action/singleViewer.do?dvs=1531107422136~354&amp;locale=en_US&amp;metadata_object_ratio=10&amp;show_metadata=true&amp;VIEWER_URL=/view/action/singleViewer.do?&amp;preferred_usage_type=VIEW_MAIN&amp;DELIVERY_RULE_ID=10&amp;frameId=1&amp;usePid1=true&amp;usePid2=true"> </a>
An 1875 proposal for a shipping canal and docks west of the Hoddle Grid set out to achieve a similar outcome. A large canal would have cut past Sandridge to the west across the Yarra River, where a smaller canal would have connected the Moonee Ponds Creek near present-day South Kensington railway station. A familiar grid pattern would have filled the area, complete with intersecting railways.
<a href="https://images.theconversation.com/files/223994/original/file-20180620-137750-1m4nt7n.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/223994/original/file-20180620-137750-1m4nt7n.jpeg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
The outskirts of Melbourne’s CBD were peppered with docks and shipping canals in past proposals. <a href="https://www.propertyobserver.com.au/http://handle.slv.vic.gov.au/10381/114194"> </a>
Extension of railways
Melbourne’s railways have been imagined and re-imagined many times over since the first train departed in 1854. Observed to <a href="https://grattan.edu.au/wp-content/uploads/2014/04/180_mares_urban_rail_essay_cities.pdf" target="_blank">resemble a hand</a>, the suburban lines all converge at the CBD.
Throughout the 1900s, the Tramways Board was responsible for Melbourne’s tram network. In the 1920s, the board proposed a <a href="http://www.hawthorntramdepot.org.au/papers/ecohist/ecohist3.htm" target="_blank">significant expansion of the suburban tram network</a>. One of the proposals was to introduce services across Bell Street, Moreland Road and Dawson Streets in the northern suburbs to not only have radial routes (which converge in the city) but also allow <a href="https://www.propertyobserver.com.au/http://handle.slv.vic.gov.au/10381/115243" target="_blank">orbital</a> routes (which can intersect radial lines, without having to go into the city and back out again).
<a href="https://images.theconversation.com/files/224158/original/file-20180621-137728-aez4t.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/224158/original/file-20180621-137728-aez4t.jpeg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
The Tramway Board proposed orbital and radial tram routes across the northern suburbs in the 1920s. <a href="https://www.propertyobserver.com.au/http://handle.slv.vic.gov.au/10381/115347"> </a>
Throughout the 1920s the then Metropolitan Town Planning Commission compiled the <a href="https://www.planning.vic.gov.au/policy-and-strategy/planning-for-melbourne/plan-for-general-development-1929" target="_blank">Plan for General Development</a>, which identified urgent works and improvements to correct haphazard land boom development. One such proposal was the northern city underground to connect the Jolimont rail yards to North Melbourne railway station beneath Victoria Parade.
This was intended to distribute pedestrian traffic between Flinders Street, Prince’s Bridge and the new northern stations, as well as reduce walking times to stations from 15 minutes in some areas to within five and ten minutes anywhere in the grid. This scheme was abandoned partially due to the onset of the Great Depression.
<a href="https://images.theconversation.com/files/224168/original/file-20180621-137717-1g9p44r.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/224168/original/file-20180621-137717-1g9p44r.jpeg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
The 1929 plan for an underground railway in the north was partly abandoned due to the Great Depression.
Imagining for the future
Everybody involved in the planning process should spare a thought for yesterday’s Melbournes of tomorrow. Like those before us, we are yet to tackle one of the biggest challenges of getting many people places quickly.
We should continue questioning our dependence on motorcars, which are neither practical nor efficient for achieving the <a href="https://theconversation.com/the-30-minute-city-how-do-we-put-the-political-rhetoric-into-practice-56136" target="_blank">30-minute city</a>. If we can seriously consider <a href="https://blogs.crikey.com.au/theurbanist/2017/05/17/melbourne-subway-map-rail-fantasy/" target="_blank">orbital railways</a> that can move people across suburbs without having to go into the city, we can prevent unnecessary congestion in the CBD.
Planners should continue to encourage walking and cycling (which includes making the streets safe), while also separating trams from other forms of traffic. This would attract more people to public transport, leaving the roads for those who truly need them.
Together with the <a href="https://transport.vic.gov.au/about/planning/transport-strategies-and-plans/" target="_blank">government’s focus on mass transit</a>, Melbourne <a href="https://www.theage.com.au/politics/victoria/andrews-guy-give-thumbs-down-to-capp-s-ridiculous-cbd-traffic-plan-20180621-p4zmtr" target="_blank">Mayor Sally Kapp’s</a> provocative proposal to reduce road congestion in the CBD – by making some streets one-way and giving priority to pedestrians – is a step in the right direction.
Imagination is an important part of the planning and design process as it allows us to see infinite potential in the urban environment. Unfortunately, these dreams are often dismissed early due to increasing sensitivity to economic feasibility and immediate return on investment.
<img src="https://counter.theconversation.com/content/97609/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">While budgets are important, we must remember that planning and design should be about improving the lives of the people in our cities and towns, even if projects come at a higher cost and take longer to deliver.
Aaron Magro is a PhD Candidate at the Melbourne School of Design, University of Melbourne
This article was originally published on <a href="https://theconversation.com/au" target="_blank">The Conversation</a>.
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How city planning is inspired by previous visions of the future

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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