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One of the Gold Coast’s longest serving community developers Rayjon Group, has received council approval for a $45 million apartment development which will be launched soon.
The Rayjon development, destined to become adjacent to the Rayjon-owned Treetops Plaza Shopping Centre, will take the same approach to the nearly completed Vantage Gold Coast located adjacent to Royal Pines in Benowa.
The Burleigh Waters project will have an exclusive selection of 56 spacious two- and three-bedroom apartments, some with additional multi-purpose rooms and all with large private balconies and two car spaces.
The development, set on a 330 sqm site and designed with plenty of open space for residents, takes a low-density approach on a site that could have easily accommodated significantly more apartments.
The podium level will have a large swimming pool accompanied by an outdoor residents’ lounge, barbecue area and dining pavilion and will also feature a gym and sauna.
The development will be targeting owner occupiers and downsizers in the burgeoning Burleigh precinct.
Rayjon General manager Tyneal Dodds said approval by the Gold Coast council would pave the way for a project launch in coming months.
The development, located at 20 Executive Drive, will offer views ranging from Burleigh Heads to the east, the Surfers Paradise skyline to the north and west to the Gold Coast Hinterland.
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RayJon's $45 million Burleigh Waters residential development approved

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A new renovation calculator launched by Suncorp, and powered by CoreLogic, is helping renovators to estimate the cost of home renovations.
The calculator has been launched in parallel with Channel 9’s The Block which kicked off on television screens across Australia on Sunday, 23 August.
Renovators can use the calculator to quickly determine the estimated costs of various home renovations in any particular suburb, with an extensive range of renovation types.
The calculator provides estimates of renovation costs from internal painting, to a complete bathroom redesign, with each renovation project providing a question string that generates a separate estimated cost depending on the user’s answers.
Suncorp Executive General Manager Lending, Glenn Haslam said the renovation calculator is a useful tool for keen renovators to get a better understanding of the costs associated with their home renovation goals.
“Finances are top of mind for most Australians and with people spending more time at home, we know that many Aussies are starting to think about how they can make their house feel more like home,” Mr Haslam said.
“Before starting any renovation it’s important to start with a budget. Suncorp’s renovation calculator helps provide tangible guidance on the likely cost you could face depending on the scale of your renovation."
“Our Suncorp lenders and brokers can also help prospective renovators understand options to finance their renovation while also balancing their financial goals,” Mr Haslam said.
Lisa Claes, CEO of CoreLogic International said, “As a core sponsor of The Block, Suncorp was searching for a meaningful tool that would help people understand the costs of different types of renovations. The renovation tool utilises data which is updated quarterly to estimate the cost of renovations, including trades, services and materials based on the customer’s location and quality of fixtures used. All facets of the build, including labour and materials, are incorporated, which helps to more effectively estimate the total cost.”
The renovation trend in Australia has been steadily increasing, especially in the current climate with people spending more time at home contemplating home improvements.
“Schemes such as the HomeBuilder grant have also meant that more people are inclined towards a renovation over relocation,” Mrs Claes said.
The Suncorp Renovation Calculator powered by CoreLogic can be accessed at <a href="https://renovation-calculator.corelogic.com.au/suncorp">https://renovation-calculator.corelogic.com.au/suncorp</a>.
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Suncorp launches CoreLogic powered renovation calculator

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A mortgagee home in Cannonvale, Queensland has been sold for $395,000.
It was listed for sale with a price guide of $410,000
The three bedroom, two bathroom house is situated at <a href="https://www.realestate.com.au/property-house-qld-cannonvale-119315671" target="_blank">99 Abell Road</a>. 
Set on a 639 sqm block, the home features open plan living area, galley kitchen, in-ground pool and double lock up garage. 
It also features storage cupboards, high ceilings and outdoor entertainment area. 
Lynne Erricker of Ray White Whitsunday has the listing. 
The property was last sold in 2015 for $410,000.
 
 
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Cannonvale, Queensland mortgagee home sold for minor loss

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A Western Australian mortgagee home in the suburb of Bentley went to auction on July 18 unsuccessfully.
The five-bedroom, two-bathroom home which presents an opportunity for a first home buyer or investor has finally sold.
Located at <a href="https://www.realestate.com.au/property-house-wa-bentley-133821094">7a Duke Street</a>, the property offers an open plan living, dining and kitchen space which opens onto a rear courtyard.
Only 10km from the Perth CBD, it is a 254 sqm abode.
Ray White’s Cameron Smart and Kirsty Baker hold the listing.
The property last traded for $475,000 in 2016.
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Bentley, WA mortgagee home sold after unsuccessful auction

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Spacenow has announced that its flexible commercial space marketplace has registered a surge in demand from business owners and individual workers looking for alternatives to long-term commercial space leases.
It is as a result of the Covid-19 pandemic and the pivot to remote working.
Since March 2020, Spacenow has recorded a 290% increase in new customers.
It has recorded a 550% increase in enquiries from both large corporations, SMBs, start-ups and sole traders looking for short term, modulable and Covid-Safe flexible office space options closer to home.
The platform has also surpassed 5,000 listings across Sydney, Melbourne, Brisbane, Perth and Adelaide.
It noted new listings added to the platform every day and customers including Canva, Uber Eats, Merivale, Stan, Allianz, Hoyts, and Woolworths.
Recruiting agency Real Time Australia has ditched its two Sydney &amp; Melbourne offices, now fully reliant on Spacenow for all its commercial space needs.
“The current economic uncertainty and social distancing measures mean that large corporate offices and CBD areas across Australian cities will continue to lay dormant for a while.
"However, working for home every day for months on end isn't a sustainable model for workers both from a workspace set-up and mental health perspective.
"There needs to be another model that supports this shift to remote and hybrid work, one that helps bring work closer to people’s homes, in a safe environment”, explained Daniel Gunning, CEO of Spacenow.
Spacenow has launched Flexible Project Spaces, in partnership with Aussie professional cleaning services marketplace Whizz. It is part of a Covid-19 decontamination service.
With Flexible Project Spaces organisations from all sizes as well as individual professionals and workers can rent any type of space - whether it be a single desk, a meeting room, a full office floor, an event space, an offsite venue or more - by the hour, day, week or month depending on their changing needs.
The Decontamination Service uses a process called antimicrobial fogging which decontaminates touch points and creates a barrier that provides on-going surface protection for up to 28 days.
Gunning added on one end it allows property owners to drive better utilisation and higher revenue from their property assets -
"We’re even seeing hotels transform their rooms into workspaces, while businesses on their end can find affordable solutions to the remote work conundrum, ultimately making consequent leasing savings that they can re-invest in what matters more to their business.”
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Flexible commercial space marketplace Spacenow records 290% growth due to COVID

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Ahead of the full impact of the COVID 19 pandemic, nearly 1 in 10 stores across WA’s 78 largest supermarket based shopping centres is currently vacant, according to a new study by independent commercial property research and information firm, Y Research.
The study physically reviewed the occupancy of metropolitan Perth’s 78 largest supermarket based centres from Butler in the north, Mundaring in the east and Halls Head in the south across June 2020, after relaxation of COVID 19 restrictions.
As of June 2020, the vacancy rate across these centres was 9.4%.
The vacancy rate for WA’s largest centres, Major Regionals which includes centres such as Lakeside Joondalup, Westfield Booragoon and the Galleria, was 7.4%, more than three times higher than their historical average of 1 to 2%. Despite anecdotal evidence that consumers are shopping at local neighbourhood centres, these centres recorded the highest vacancy rate of 13.9%, followed by sub regional centres with 11.5%.
There is a wide disparity across centres reflecting economic conditions across Perth’s suburbs. Claremont Quarter recorded the lowest vacancy rate - 1.7%. Conversely 21 centres across suburban Perth have vacancy rates already over 15%, with 5 centres more than 25% vacant.
There are a range of factors contributing to the current level of vacancy - weak economic conditions post the mining boom, a string of national retailers going into administration and recent centre expansions adding supply.
Y Research Principal Damian Stone said, “So far COVID has had minimal impact on current vacancies. A limited number of retailers, mainly tourism based retailers such as travel agents, have surrendered their tenancies. For a majority of retailers, a combination of rental relief from shopping centre owners, a national code of conduct restricting evictions and Government Assistance (Job Keeper) has seen them return to trading."
"The longer term impact of the pandemic on WA’s shopping centres remains uncertain. Based on discussions with industry stakeholders, the expectation is that across the balance of 2020 we will see a limited number of retailers close, but the new looming cliff is February/March 2021 when Government assistance ends and investment decisions, such as ordering winter stock, are required."
"Retailers will be depending on a strong Christmas/New Year period in order to trade through the worst of the economic pain caused by the pandemic. Going forward, the internet is as much a threat to centres as COVID. The pandemic has driven significant retail sales online with a broader range of consumers happy to shop online through platforms such as Amazon, Uber Eats and retailers’ expanded e-commerce platforms."
"The pandemic has seen the range of products purchased online grow from fashion, food and entertainment (Netflix and books) through to groceries and homewares."
"The continued closure, either full time or on reduced hours, of a number of national chain stores is a likely early indicator of consolidation of store networks adding to existing high vacancies. Further closures will be difficult to fill."
"In response, in the years ahead the tenancy mix across WA centres will evolve with services such as medical centres and gyms becoming a standard feature; lower discretionary spending will drive take up from discount retailers and moves to add density surrounding the centre will be common place."
"For retailers, further discounting will likely be required in order to get consumers to part with limited discretionary spending post Government assistance."
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Nearly 1 in 10 stores across WA shopping centres is vacant: Y Research

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The Byron Bay Holiday Village located at 116-118 Jonson Street, one of the last multi-storey developable sites in the heart of Byron Bay, is to be offered for sale.
The 4,282 sqm Local Centre zoned property will be marketed by John Musca of JLL Hotels &amp; Hospitality in conjunction with Elliott O’Shea of JLL Metropolitan Investments, via a formal expressions of interest campaign.
Owned by the same family for over 37 years the business currently operates as the Byron Bay Holiday Village Backpackers with a capacity of up to 200 guests and was the first purpose-built backpackers in Australia when built in 1983.
Having sold the Beach Hotel in Byron for $104 million Mr Musca noted that the measured approach to new development has assisted in maintaining the areas unique coastal culture, whilst also amplifying the interest in those last remaining sites offering favourable zoning.
Byron’s commercial focus is continuing to extend along Jonson Street where the recently completed Mercato complex will eventually be flanked by a proposed 4-star hotel on the former Woolworths site and a new hospitality and retail complex planned for 90 - 96 Jonson Street. That 5390 sqm property was sold for $29.8 million in January this year, representing $5,528 per sqm.
Mr O’Shea expects that interested groups will appreciate this short-term income strategy however the highest and best use for the site is likely to be development.
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Byron Bay Holiday Village set for sale

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EXPERT OBSERVER
The HIA-Housing Affordability Index for the June quarter 2020 shows housing in Australia remains at its most affordable since 1999.
HIA’s Affordability Index is calculated for each of the eight capital cities and regional areas on a quarterly basis and takes into account the latest dwelling prices, mortgage interest rates and wage developments.
Housing affordability improved in the June quarter across all capital cities.
This improvement in affordability means that it now requires less than 1.2 average incomes to service a mortgage on a median-priced dwelling in Australia’s capitals.
This is a rapid improvement from just three years ago when it required more than 1.4 times the average income to service the same mortgage.
The combination of lower interest rates, slow house price growth and relatively steady wage growth over the past three years have driven this improvement in affordability.
Unfortunately this is cold comfort for many first home buyers.
Repaying a mortgage is no longer the constraint it was over the past two decades. The increase in the number of new homes built over the past five years has kept a lid on house price growth.
The challenge facing first home buyers is no longer their ability to repay a loan, but in obtaining a mortgage in the first place.
A decade of red tape has made it significantly harder for first home buyers to obtain a mortgage for purchasing their first home.
A raft of restrictions imposed by APRA and ASIC since the 2007 Global Financial Crisis has seen the number of home loans issued with a 10 per cent deposit fall from 21 per cent of all loans to just 7 per cent.
As the Governor of the Reserve Bank, Phillip Lowe said, the pendulum has swung too far.
The additional red tape imposed in recent years means that banks are increasingly lending to those that already own a home.
Improving access to finance helped pull the economy out of the 1990’s recession and it can do the same for the COVID-19 recession.
The HIA Housing Affordability Index for the capital cities increased by 5.6%, led by Perth (+7.1%), Melbourne (+6.9%) and Sydney (+6.1%). Brisbane also increased by 5.0%, followed by Canberra (3.3%), Hobart (+3.1%), Adelaide (+3.1%) and Darwin (+1.6%). The Index for regional Australia also increased by 4.9 per cent.
TIM REARDON is the HIA’s Chief Economist
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Housing in Australia at its most affordable since 1999

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GUEST OBSERVATION
A department store employee wheels clothes across Melbourne’s Bourke Street Mall on August 5 2020, as retailers prepared to close their doors to customers.
“This is not a bluff,” <a href="https://www.theaustralian.com.au/business/companies/mosaic-could-shut-between-300-500-stores-amid-rent-disputes-online-switch/news-story/8868980e1be2de4048b93b17b9da3880">Scott Evans</a>, the chief executive of Mosaic Brands, has said of his threat to permanently close 300 to 500 stores in Australia unless landlords reduce rents.
Mosiac’s network of about 1,300 apparel stores includes Katies, Noni B, Rivers, Rockmans, Millers and Crossroads. With stores shuttered temporarily due to COVID-19 restrictions, it posted a <a href="https://www.afr.com/companies/retail/mosaic-brands-to-close-stores-after-170m-loss-20200824-p55ovi">A$170.5 million loss</a> in the year to June.
It and other retailers such as <a href="https://www.premierinvestments.com.au/our-brands/">Premier Investments</a> (owner of Just Jeans, Portmans and Jacqui E brands) <a href="https://www.smh.com.au/business/companies/westfield-locks-retailers-out-of-stores-as-rent-battle-escalates-20200820-p55ns2">have reportedly</a> been paying lower or no rent to landlords, on the basis their rents should reflect revenue and landlords should share the pain.
Last week Mosiac’s stalled rent negotiations with Australia’s biggest shopping centre landlord, Scentre Group, led to a <a href="https://www.afr.com/companies/retail/retailers-landlords-in-open-warfare-over-rents-20200825-p55p5f">lockout of 129 Mosaic stores</a>. Scentre also locked the doors to 38 stores owned by luggage retailer Strandbags.
According to <a href="https://www.theaustralian.com.au/business/companies/mosaic-could-shut-between-300-500-stores-amid-rent-disputes-online-switch/news-story/8868980e1be2de4048b93b17b9da3880">Evans</a>:
The retail rental market in Australia is not paused because of the pandemic. It is fundamentally changed for the future.
A history of growth, conflict and negotiation
Though the coronavirus crisis has brought things to a boil, tensions between shopping centre tenants and landlords have simmered for more than 40 years.
Behind Mosaic’s standoff with Scentre are the underlying power dynamics between tenants and landlords. Mutually dependent on one another, they have always fought over the spoils of shopping centre profits. With the COVID-19 crisis, strained relationships are starting to break down.
Australia’s first American-style <a href="https://australianfoodtimeline.com.au/first-australian-shopping-mall/">shopping centre opened in 1957</a>, in the Brisbane suburb of Chermside. It had space for one department store, one supermarket, 24 specialty stores and parking for 650 cars.
As the rise of the private motor car reshaped cities and suburbs, <a href="https://www.propertyobserver.com.au/https://www.routledge.com/Managing-the-Marketplace-Reinventing-Shopping-Centres-in-Post-War-Australia/Bailey/p/book/9781138323025">shoppers embraced</a> the convenience and comforts and comforts of the mall.
By the late 1970s they were the dominant shopping experience, outstripping many established “high streets”. They became <a href="https://www.propertyobserver.com.au/https://epress.lib.uts.edu.au/index.php/sydney_journal/article/view/2817">social as well as commercial hubs</a>.
They were also protected by planning legislation intended to constrain sprawling development, but which also created geographic monopolies by blocking competition nearby.
This all produced highly sought after and valuable retail space.
Naturally owners were keen to increase their profits by <a href="https://www.google.com.au/books/edition/Managing_the_Marketplace/ZbXjDwAAQBAJ?hl=en&amp;gbpv=0">expanding these spaces</a> to attract even more shoppers.
Calls for government intervention
But as centres got bigger and more and more specialty retailers signed leases, complaints began to emerge about exploitation and steep rent hikes. By the early 1980s tenants’ complaints had become an issue for both sides of politics.
Intense lobbying led to government inquiries around the country, which found sufficient evidence to recommend industry self-regulation and then <a href="https://www.propertyobserver.com.au/https://www.legislation.nsw.gov.au/#/view/act/1994/46">retail tenancy legislation</a>.
But the fundamental power dynamics remain. Landlords still have the most convenient and attractive locations for stores. They have control over entire retail environments, and even collect the sales data of their tenants. Their bargaining position in leasing negotiations is invariably very strong.
Sharing profits and costs
In 2008 a <a href="https://www.pc.gov.au/inquiries/completed/retail-tenancies/report/retail-tenancy-market.pdf">Productivity Commission inquiry</a> noted:
Well-managed shopping centres can unify a large and divergent group of tenants and help centre trade. In return, tenants in centres generally pay higher rents and outgoing expenses than similar tenants in a shopping strip and forego some independence in operating their business.
It has often been a mutually advantageous relationship, but there has always been a contest between tenants and landlords over how they share both benefits and costs.
The retailers’ argument is rent should be based on the value of the customer traffic the shopping centre delivers to their stores, and those customers have evaporated with COVID-19. As analyst <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2020-05-21/shopping-centre-landlords-among-biggest-coronavirus-losers/12271266">Bill Mooney put it</a>:
With a lease agreement there’s an expectation of a certain amount of customers coming through into the shopping mall and if that nexus is broken, then yes, the landlord can insist on his rights, but which retailer is going to continue to pay rent and go broke?
Mosaic’s projection of store closures emphasises this point.
No one will come out of this a winner. The fight to minimise losses will be bitter. The first casualties will be the most vulnerable: the smallest tenants, with the least bargaining power, in the most precarious financial situations. This echoes the broader pattern of the pandemic’s impact.
For landlords there are longer-term questions. Will the current standoff push retailers towards a permanently smaller physical footprint and greater investment in online shopfronts? Has it created even more uncertainty about retail’s future? How deeply has trust been eroded?
Whatever happens, when there is any sort of return to normal, both sides will enter fresh leasing negotiations with an acrid taste from what is rapidly becoming their most vitriolic fight to date.
<hr>
This article has been co-published with <a href="https://lighthouse.mq.edu.au/">The Lighthouse</a>, Macquarie University’s multimedia news platform.<img src="https://counter.theconversation.com/content/145094/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
<a href="https://theconversation.com/profiles/matthew-bailey-414427">Matthew Bailey</a>, Lecturer, Retail History, <a href="https://theconversation.com/institutions/macquarie-university-1174">Macquarie University</a>
This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/trouble-at-the-mall-as-landlords-and-tenants-ponder-mutually-assured-destruction-145094">original article</a>.
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Trouble at the mall as landlords and tenants ponder mutually assured destruction

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Within the inner suburbs of Sydney, buyers with a budget of $700,000 or less are limited to studio, one- or two-bedroom apartments, according to the latest Herron Todd White (HTW) residential report. 
The valuation firm took a look at how a budget of $700,000 could be invested in property markets across the nation. 
However there is still a wide range of factors to consider such as location, size and quality of development, living area size, aspect and natural light, parking and many other fundamental aspects such as nearby infrastructure and potential oversupply issues within the immediate area, the HTW noted. 
"If considering buying within this market segment, it is generally important to purchase something to which you can add value by doing minor renovations and buy within smaller scale, good quality buildings that have some character and are located in convenient positions where people want to live, close to public transport, schools, parks, local shops and cafés, etc," the valuation firm said. 
<a href="https://www.realestate.com.au/sold/property-apartment-nsw-darlinghurst-133362654" target="_blank">6/1 Darley Street, Darlinghurst</a> (pictured below) was advertised for sale throughout April and May with an asking price range of $550,000 to $580,000, and sold for $513,000 on 29 May 2020.
Interestingly, the previous sale was five years ago in July 2015 for the same price of $513,000 when it sold prior to auction, the report noted. 
This is a small, one-bedroom apartment with an approximate living area of 37 square metres and no outdoor areas or parking. 
This style of property is aimed at investors, or to a lesser extent, first home buyers.
 The rental market has been negatively impacted due to COVID-19 which directly affects how much investors are willing to pay for investment properties of this nature. 
Furthermore, the rental history for this property as per RP Data indicates that the asking rent during 2010 was $425 per week and the recent asking rent as at March 2020 was $495 per week, however this appears to have now reduced to approximately $400 per week.
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This is a good example of an entry-level property below $700,000 within a popular inner-east location and approximately two kilometres of the Sydney CBD, the report noted. 
This property also benefits from heritage character and could prove to be a good purchase for a first home buyer, or a steady longer- term investment, provided of course that you could cope with the reduced rental income in the current market.
The report noted other matters to consider for this type of property are some lending policies on properties with a living area of less than 50 square metres requiring a larger deposit.
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<a href="https://www.realestate.com.au/sold/property-apartment-nsw-marrickville-133585994" target="_blank">8/73 Warren Road, Marrickville</a> (pictured below) is another example of an entry-level property in the inner west region of Sydney, the report noted. 
It is located approximately 9 kilometres from the CBD and sold for $655,000 on 13 June 2020.
This is a two-bedroom, one-bathroom apartment situated within a two-level walk-up building constructed circa 1970.
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The unit benefits from updated interiors and a single car space.
The property is positioned in a quiet street and located approximately 500 metres from Marrickville train station and local shops.
Similar two-bedroom units can achieve a rental income of approximately $450 to $500 per week.
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In the east, you are generally looking at studio or one-bedroom units with car accommodation at this price point, which is entry level for first home buyers or local investors, the report noted. 
Slightly further away in the inner south, suburbs such as Botany, Mascot, Rosebery, Zetland and Waterloo, which typically have a large supply of modern units, provide more options for those looking to buy in the area.
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"In the current market, investors should look away from over supplied areas and large unit developments and instead focus on older style walk-up units requiring renovation to add value. 
"The oversupplied areas will always be more volatile due to large supply and many similar style developments. The properties likely to perform the best are those that are unique, with views or proximity to the beach or harbour, or those that can offer value add through renovations," the valuation firm said. 
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What $700,000 can buy in Inner Sydney: HTW residential 

<a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> has lodged plans for a $750 million, three-tower mixed-use precinct that would complete the long-running redevelopment of Carlton's former Carlton United Breweries site.

The proposal at <a href="https://www.apartments.com.au/new-apartments/185-195-queensberry-street-carlton-vic-3053">46-78 Bouverie Street and 185-195 Queensberry Street</a> spans a 6,468 sqm site, the last remaining undeveloped parcels within the former brewery's 2007 masterplan.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the development will comprise two purpose-built student accommodation towers and a third build-to-sell apartment tower above a shared commercial podium and basement.

Across the three towers, SP Setia is proposing 606 build-to-sell apartments and 1,499 student accommodation units containing 2,009 beds.

The apartments will sit in the tallest tower, which will rise nearly 200m and 55 storeys. It will become&nbsp;one of the more substantial new build-to-sell apartment projects at the northern edge of Melbourne's CBD.

The apartment mix is weighted toward smaller inner-city product, with 188 studios, 206 one-bedroom apartments, 192 two-bedroom apartments and 20 three-bedroom apartments

<img alt="First look: SP Setia plans three-tower finale for Carlton’s former CUB precinct" data-entity-type="file" data-entity-uuid="8271bc87-1b0a-41b7-ac73-a425ee375261" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/3_2.png?VersionId=G4lw23o90B1boX4k4dj7rdz2ZEajS9wy" />

Part of the precinct will be a large-scale&nbsp;3,684 sqm supermarket and a further 2,198 sqm of speciality retail, creating close to 5,900 sqm of new commercial space within the precinct.

But one of the biggest components of the proposal is what sits between the buildings.

Around 4,650 sqm, or roughly 72 per cent of the site, will be publicly accessible open space, incorporating plazas, pedestrian connections, landscaped laneways and retail spill-out areas.

The ground plane is intended to finally complete pedestrian connections envisaged when the CUB masterplan was first approved nearly two decades ago, stitching together Victoria Street, Queensberry Street, Bouverie Street and Swanston Street through the former brewery precinct.

Urbis said the development would "complete the CUB precinct", with the public realm providing important north-south and east-west connections through what is currently the final undeveloped portion of the masterplanned site.

SP Setia is also exploring a new linear park within the Bouverie Street road reserve, with the concept to be developed further with the City of Melbourne through the planning process.

The proposal is being pursued through the Victorian Government's Development Facilitation Program under Clause 53.23 for significant residential development with affordable housing.

The planning report acknowledges the proposed heights exceed those contemplated under the original Comprehensive Development Plan and masterplan, but argues the built-form context has changed considerably over the past two decades.

Urbis said the three towers would instead create a stepped transition between Carlton and the Hoddle Grid, rising progressively from the 94.1-metre Tower One along the Queensberry Street edge to the 199.44-metre Tower Three closer to the established CBD-scale buildings to the south.

<img alt="SP Setia" data-entity-type="file" data-entity-uuid="e885a07a-592c-40fc-bf82-e6dbaf32da54" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.52.24%E2%80%AFAM.png?VersionId=7s_ErUkSKAdY1mAWp3GRZgMNCGtwhk5m" />

SP Setia plans to deliver the development across three stages.

Stage One would deliver the basement, podium and retail areas for the entire precinct alongside the first student tower. Tower Two would follow in Stage Two, before the 606-apartment Tower Three is delivered as the final stage.

If approved and delivered, the project would close out a redevelopment process that has been underway since the former brewery masterplan was approved in 2007, adding more than 2,600 student beds and apartments to a precinct already home to Swanston Central, the Barak Building, RMIT Design Hub and several large student accommodation developments.

&nbsp;

&nbsp;

Joel Robinson

SP Setia plans three-tower finale for Carlton’s former CUB precinct

Melbourne developer Lowe Living is seeking to add to its growing bayside apartment pipeline, filing plans for a boutique eight-residence development in tightly held Middle Park.

Lowe Living, which has built much of its development portfolio across Melbourne's affluent bayside and south-east suburbs, is behind the plans for the 730 sqm site at <a href="https://www.apartments.com.au/new-apartments/123-125-erskine-street-middle-park-vic-3206">123-125 Erskine Street</a>, just off Armstrong Street and within the Armstrong Street Neighbourhood Activity Centre.

The developer is seeking approval for a five-storey residential building above two basement levels, with just eight large-format apartments and 18 car spaces.

“This is a deliberately very different proposition for us,"&nbsp;Tim Lowe, Co-Founder of Lowe Living, said.

"Eight residences is exceptionally boutique, but that's precisely what this site calls for.

“There is a strong community in Middle Park and the surrounding suburbs who have spent decades building a life here. They no longer want the maintenance of a large period home, but they aren't prepared to compromise on space, quality or location. We think there is a real opportunity to capture that hyper local market. A site like this rarely comes to market.”

<img alt="Lowe " data-entity-type="file" data-entity-uuid="875fe572-0f14-4d90-9e11-55b28dd07731" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.42.49%E2%80%AFAM.png?VersionId=GDNQRv9BfpR9r1zkZ5UDyUM4ZvpIksut" />

The low-density proposal has been designed by Cera Stribley and is being progressed through the Victorian Government's Great Design Fast Track pathway, having already secured eligibility from the Minister for Planning.

The Office of the Victorian Government Architect supported its eligibility after finding the proposal demonstrated consistency with the program's seven design principles, while the project's financial feasibility has also been independently confirmed by Invest Victoria.

The project is targeting the downsizer market, with the planning documents describing the homes as larger-format residences and noting the two penthouses could otherwise have been configured as four separate apartments.

<img alt="Lowe 2" data-entity-type="file" data-entity-uuid="60ab0987-2da6-4175-adac-315dcf6053c6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.43.15%E2%80%AFAM.png?VersionId=bOCPH0B2MFwlmaRW.TTCF9TzyifgVoQI" />

The site has dual frontage to Erskine Street and Canterbury Place and currently comprises a collection of commercial buildings used as offices, including a former heritage bakehouse, a former stable, a later gabled addition and a central courtyard.

It sits within the Commercial 1 Zone and the Armstrong Street Commercial Precinct heritage overlay, with the existing property classified as a contributory heritage place.

Heritage has subsequently played a significant role in Cera Stribley's design.

The front section of the former bakehouse facing Erskine Street will be retained, including its return walls, street-facing hipped roof and chimneys, while the Erskine Street façade and part of the western return wall of the former stable will also be incorporated into the new development.

Levels four and five will be set back five metres from the retained stable façade, while bricks removed through demolition are proposed to be salvaged and reused within the new building where possible.

<img alt="Lowe 3" data-entity-type="file" data-entity-uuid="e97927a9-a2de-4a0f-83b6-65451238abfa" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.43.06%E2%80%AFAM.png?VersionId=VR44AChLrX9q1XPB9GvVQV.ALXXbe4gC" />

Rather than presenting as a single five-storey building to Erskine Street, Cera Stribley has broken the development into a series of distinct forms.

A three-storey infill element will sit between the retained bakehouse and stable façades, with the upper levels recessed behind the heritage fabric. Canterbury Place will similarly feature two three-storey podium forms, separated by a central pedestrian accessway, before the upper two levels step back from the street.

A pedestrian through-link will run through the centre of the project between Erskine Street and Canterbury Place, creating entrances from both sides of the site and introducing landscaping and communal areas through the ground plane.

Landscape architect Acre has designed planting across the ground level, private terraces and upper levels, including a feature canopy tree at level three and integrated planting and arbours across the level four terraces. Five existing Erskine Street trees are proposed to be retained.

Sustainability is also a significant component of the Great Design Fast Track application. The apartments are targeting an average eight-star NatHERS rating, with no residence below 6.5 stars, while the project has achieved a 75 per cent BESS score. Seven of the eight apartments are designed for cross-ventilation, with the remaining residence using mechanically assisted natural ventilation.

The plans also incorporate an 8kWp rooftop solar system, a 5,000-litre rainwater tank and infrastructure allowing future electric vehicle charging for every residence.

Lowe has a strong portfolio across Melbourne's blue-chip suburbs. They recently launched <a href="https://www.apartments.com.au/new-apartments/jardin-house-by-lowe-living-camberwell-335-camberwell-road-camberwell-vic-3124">Jardin House by Lowe Living</a> in Camberwell, their first development in the Stonnington LGA.

Lowe Living unveils Middle Park apartment development

Article summary

<ul data-end="888" data-start="289">
	<li data-end="442" data-section-id="8tsh6o" data-start="289">DVB Projects is preparing to launch its second Gold Coast apartment development, with demolition now underway at 137 Old Burleigh Road, Broadbeach.</li>
	<li data-end="573" data-section-id="1nyxl3e" data-start="443">The 34-level tower will comprise just 49 ultra-luxury residences, including half-floor, full-floor and penthouse apartments.</li>
	<li data-end="717" data-section-id="oiyimj" data-start="574">The launch follows strong demand at DVB's nearby Sea Glass project, which is more than 50 per cent sold and currently under construction.</li>
	<li data-end="888" data-section-id="epk9o9" data-start="718">The development adds to the transformation of Old Burleigh Road, with premium beachfront apartment projects continuing to reshape the tightly held Broadbeach strip.</li>
</ul>

<a href="https://www.apartments.com.au/developers/dvb-projects">DVB Projects</a> is preparing to launch its second Gold Coast apartment development, with demolition now underway on the Broadbeach site as the Sydney developer moves closer to bringing the ultra-luxury project to market.

The 34-level tower at <a href="https://www.apartments.com.au/new-apartments/137-old-burleigh-road-broadbeach-qld-4218">137 Old Burleigh Road</a> will comprise just 49 residences, ranging from half-floor apartments through to full-floor homes and a penthouse. The launch follows the strong sales performance of DVB's nearby Sea Glass development. More than half of the apartments at Sea Glass, on the other side of Broadbeach, have been snapped up, well ahead of its late 2027 completion

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="2944b4be-c84e-4b54-8dc1-c712e76704c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E02_Exterior_Street%20Level%20Entrance.jpg?VersionId=YoNig7pRdrE3HCue7sUj78LzJteeQf3H" />

The start of demolition at 137 Old Burleigh Road signals DVB Projects’ underlying confidence in the Gold Coast’s luxury beachside apartment sector.

“We see the Gold Coast as one of the most compelling lifestyle markets in Australia, particularly at the premium end where demand continues to deepen,” said Dean Brown, Managing Director of DVB.&nbsp;

“This project has been carefully designed to respond to that demand - delivering large-format residences with a level of quality, privacy and amenity that is still relatively rare in the apartment market on the beachside."

Brown says the site itself is "exceptional."

"Old Burleigh Road is one of the most tightly held beachfront strips, and opportunities to deliver a project of this scale and calibre in this location are extremely limited.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="398f377a-c037-455e-9250-0c5e0d84c35b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/I12_FF%20Balcony.jpg?VersionId=NwOiRWGMubR1c8wthuEfggklcja7al9." />

The project will comprise 40 half-floor residences of approximately 260 sqm, alongside eight full-floor residences spanning around 524 sqm.

A single penthouse will crown the building, featuring a private pool, barbecue area, indoor gym and dedicated entertaining spaces.

Residents will have access to a resort-style suite of amenities, including a 20-metre pool with daybeds, a gymnasium, hot and cold plunge pools, a sauna, and private residents’ lounge and dining facilities.

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="d1642bb0-9a66-4427-a022-dfc0988c6287" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/A02_Pool%20to%20View.jpg?VersionId=c0IXPyn_Gp_Kn3XCwzMrqIVkAdCEwVXP" />

Sales agent Todd Matheson, of <a href="https://www.apartments.com.au/project-marketer/pezet-matheson">Pezet Matheson</a>, which is marketing both 137 Old Burleigh Road and Sea Glass, said 137 Old Burleigh Road would address a clear gap in the market for genuine luxury products.

“There are very few opportunities on the Gold Coast where buyers can secure a residence of this size and quality in a new building,” Matheson said.

“What we’re seeing is a growing cohort of downsizers and interstate buyers who still want space - they’re not willing to compromise on living area, entertaining or finishes.

“This project has been designed with that buyer in mind. It offers the scale of a home, combined with the convenience and security of apartment living, in one of the coast’s most desirable positions.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="59aae0ca-5639-4320-8aca-d0bf60f48e43" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E01_Exterior%20Hero.jpg?VersionId=DS8Zfy2WtgUEtdfe0TEUuf1W1GfcZq8S" />

Located on a 1,156 sqm site one block from the beachfront, the development will replace an ageing walk-up building and is expected to contribute to the ongoing transformation of the Old Burleigh Road strip into one of the Gold Coast’s most prestigious residential corridors.

With the development moving into the delivery phase, 137 Old Burleigh Road is slated to hit the market later this year.

[smartcode_project_cta:default project_id=145141]

DVB Projects to launch second Broadbeach apartment tower as demolition commences

<a data-end="327" data-is-only-node="" data-start="250" href="https://www.apartments.com.au/developers/norus-projects" rel="noopener" target="_new">Norus Developments</a> has lodged plans for a new apartment development in Clayton that would add further momentum to the suburb's emerging Green Street corridor.

Plans have been lodged for the consolidated site at <a href="https://www.apartments.com.au/new-apartments/1359-1365-centre-road-clayton-vic-3168">1359-1365 Centre Road</a>, where Norus is seeking approval for 218 apartments across a 12-storey apartment building designed by <a href="https://www.apartments.com.au/architects/life-architecture-and-urban-design">Life Architecture</a>.

The proposal sits within the Clayton Major Activity Centre at the threshold of the planned Green Street corridor, a landscaped pedestrian connection intended to improve links through the precinct towards Clayton Railway Station.

The development would replace the site's existing collection of low-scale residential and commercial buildings with a single consolidated building, introducing significantly greater housing density to this part of Centre Road.

A retail tenancy is proposed at ground level to activate the Centre Road frontage, accompanied by transparent street interfaces and landscaping intended to create a more pedestrian-focused edge to the development.

<img alt="First look: Norus Developments plans landscape-led apartment project for Clayton’s emerging Green Street" data-entity-type="file" data-entity-uuid="0a5a763a-d9e9-4253-af2f-88008de27ebf" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Clayton%20a.png?VersionId=S2WJJbat1XVkZwB9SnYtygirXgWHiklX" />

The building has been designed with stepped massing and upper-level setbacks to manage its transition towards surrounding residential properties. The planning report describes the approach as one that integrates the building into the landscape rather than treating landscaping as a secondary element.

"A strong landscape and public realm strategy underpins the proposal," Urbis states in the planning report.

"Public benefits include an affordable housing contribution, a new pocket park, generous landscaped setbacks, deep soil planting and integrated Water Sensitive Urban Design."

The report adds that these elements are intended to create "a permeable, pedestrian-focused ground plane that enhances walkability, supports urban cooling and reinforces the emerging Green Street character."

Biophilic and passive design principles extend through the residential levels, with planting, daylight, natural ventilation and views towards landscaped areas forming part of the amenity strategy.

Parking would be concentrated away from the public realm, with 145 car spaces proposed from the rear laneway rather than dominating the Centre Road frontage.

The proposal follows an extensive pre-application process with the City of Monash. Three formal meetings were held between the project team and Council from December 2025 to March 2026, with the scheme evolving through several concept iterations before the current design was lodged.

The project arrives as Clayton prepares for substantial change around its established activity centre and the wider Suburban Rail Loop precinct. Its position on Centre Road places the development within an existing concentration of shops, services and public transport, while the Green Street connection is intended to strengthen pedestrian access towards Clayton Railway Station.

First look: Norus plans landscape-led apartment project for Clayton’s emerging Green Street

<a href="https://www.apartments.com.au/developers/gardner-vaughan-group">Gardner Vaughan Group</a> has officially commenced construction on Bronze on Chevron, celebrating the sod turning of its first-ever Gold Coast development and marking a significant milestone in the company's continued expansion across South East Queensland.&nbsp;

Following the successful delivery of premium residential developments throughout Brisbane and the Sunshine Coast, <a href="https://www.apartments.com.au/new-apartments/bronze-on-chevron-8-mawarra-street-chevron-island-qld-4217">Bronze on Chevron</a> represents Gardner Vaughan Group's entry into the Gold Coast market. Bronze will deliver 119 one, two, three and four-bedroom apartments above two ground-level retail tenancies.

[smartcode_project:default project_id=107520 project_image_fid=367193]

The recent sod turning ceremony was attended by Deputy Mayor Mark Hammel, President of the Surfers Paradise Surf Life Saving Club, Cassandra Sedgman, project consultants, purchasers, project partners and invited guests to celebrate the commencement of construction.&nbsp;

Gardner Vaughan Group Chief Executive Officer Simon Betteridge said Bronze on Chevron represented an exciting new chapter for the business.&nbsp;

"We've spent almost four decades building homes that respond to the way people want to live, and we're excited to bring that experience to <a href="https://www.apartments.com.au/developments/chevron-island-qld-4217">Chevron Island</a>," Betteridge said.

"Bronze on Chevron is particularly significant because it marks Gardner Vaughan Group's first development on the Gold Coast following many successful projects across Brisbane and the Sunshine Coast."

[smartcode_project:default project_id=107520 project_image_fid=367183]

Betteridge said the ground breaking is a proud moment for the&nbsp;team and their purchasers, who can now see their future homes beginning to take shape.&nbsp;

"As both developer and builder, we're able to oversee every aspect of the project from design through to construction, ensuring the quality and attention to detail Gardner Vaughan Group has become renowned for."&nbsp;

Designed by acclaimed architectural practice <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker</a>, Bronze on Chevron has been thoughtfully designed to complement Chevron Island's evolving streetscape while embracing its relaxed coastal lifestyle.

The development will offer generous residences with refined interiors, premium finishes and resort-style amenities, with completion anticipated in early 2029.&nbsp;

[smartcode_project_cta:default project_id=107520]

The development will offer generous residences with refined interiors, premium finishes and resort-style amenities, with completion anticipated in early 2029

Staff reporter

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