<section data-scroll-anchor="false" data-testid="conversation-turn-5" data-turn="user" data-turn-id="e65dbe94-e3b6-47f7-b62a-9cbb30c9bf79" data-turn-id-container="e65dbe94-e3b6-47f7-b62a-9cbb30c9bf79" dir="auto">Time &amp; Place’s plans to transform the former David Jones factory building in Surry Hills into a mixed-use residential precinct have gone on exhibition through the NSW Government’s In-fill Affordable Housing pathway.</section>

<section data-scroll-anchor="false" data-testid="conversation-turn-6" data-turn="assistant" data-turn-id="request-WEB:f4d533b7-64a5-413d-86fd-5c99649c2b73-2" data-turn-id-container="request-WEB:f4d533b7-64a5-413d-86fd-5c99649c2b73-2" dir="auto">
The Marlborough House proposal, lodged for the <a href="https://www.apartments.com.au/new-apartments/marlborough-house-47-97-marlborough-street-surry-hills-nsw-2010">47-97 Marlborough Street</a> site, would see the adaptive reuse of the heritage-listed warehouse building alongside the construction of new residential additions and a separate apartment building on the northern portion of the site.

The proposal seeks approval for 172 apartments across three buildings, including 15 per cent affordable housing managed by a community housing provider for at least 15 years from occupation.

<img alt="Marlborough" data-entity-type="file" data-entity-uuid="5d1d3c2a-bf13-47d6-a335-7c01102cdee1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.29.36%E2%80%AFAM.png?VersionId=cjMYrbR.BLUlWH4dar0RVDDo0bG.u2YT" />

Interior view from the Northern Building Penthouse overlooking the park

&nbsp;

The redevelopment is planned for the prominent 3,413 sqm site bounded by Marlborough Street, Goodlet Street and Lansdowne Street, directly opposite Eddie Ward Park and around 200 metres from the Surry Hills light rail stop.

Time &amp; Place acquired the former David Jones building in 2024, marking the first time the property had changed hands in around 50 years.

Designed by Wardle, the proposal centres around the adaptive reuse of the former David Jones factory, originally constructed between 1913 and 1935 in the Inter-War Chicagoesque architectural style.

Wardle noted in its Architectural Design Report that the building “occupies a significant place in the industrial and cultural history of Surry Hills” and at its peak was “the largest department store manufacturing facility in Australia, employing over 800 people and fuelling the growth of Sydney’s fashion and retail industries.”

The practice said the project positions itself “not as an isolated intervention, but as a contributor to the civic, social, and architectural grain of the precinct.”

The proposal would deliver 75 apartments within the retained southern heritage building, 59 apartments within the central addition, and a further 38 apartments within the new northern building fronting Lansdowne Street.

Planning documents show the scheme would comprise a mix of heritage apartments, new-build apartments, townhouses and penthouses.

<img alt="Marlborough" data-entity-type="file" data-entity-uuid="57758518-40a3-4b83-958c-d06e96a2cffa" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.29.42%E2%80%AFAM.png?VersionId=VerlX9ST5xgBi8.1_YRsqdWTJeT6ygjs" />Interior View of the Heritage Building Apartment

The development would also include a ground-floor retail tenancy on the corner of Marlborough and Lansdowne streets, rooftop communal open space, a landscaped pedestrian link along the western edge of the site, and basement parking accessed from Lansdowne Street via a car stacker system.

&nbsp;

The scheme emerged from a competitive design process run by Urbis, with Wardle ultimately selected as the winning architect ahead of FJC Studio, TZG, Architectus and Wilkinson Eyre.

The Design Integrity Panel later described several aspects of the Wardle scheme as fundamental to the project, including “the stepped character of the new addition to the north of the site”, the landscaped western pedestrian link, and the “garden arrival” experience separating the original Marlborough House from the heritage addition.

Wardle’s design heavily references the site’s industrial and heritage history, while also responding to the surrounding Surry Hills streetscape.

The Architectural Design Report describes Surry Hills as “a finely grained neighbourhood with beautiful and expressive brickworks throughout the suburb,” with the proposal introducing a material palette intended to sit comfortably alongside the existing warehouse fabric and neighbouring terraces.

The report also outlines the project’s relationship with Eddie Ward Park and the broader landscape context of the area.

“Marlborough House occupies a site of deep cultural memory and the neighbouring Eddie Ward Park is of local ecological significance, where natural systems, topography, and stories have long shaped human experience,” Wardle noted in the report.

The architects said the proposal sought to “rebind built form to Country” through landscape, materiality and the adaptive reuse of the heritage structure.

<img alt="Marlborough House" data-entity-type="file" data-entity-uuid="9ae3f2f9-c85f-477a-a6f8-b43f6cb97c41" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.29.53%E2%80%AFAM.png?VersionId=B.qUCLqRvJOR.n9CvYcTpaknIX9LuqKZ" />

The project is also being progressed under the NSW Government’s in-fill affordable housing provisions, allowing developments that include affordable housing to access additional height and floor space incentives.

Under the plans, 2,593 sqm of the project’s floor space would be dedicated to affordable housing, slightly exceeding the required 15 per cent threshold.

In its Design Excellence Strategy, Urbis said the project aimed to “sensitively adapt and enhance the heritage-listed building on site through alterations and additions that preserve its historical significance” while delivering “high-quality market and infill affordable housing development in Surry Hills.”

Time &amp; Place has been one of the most active developers nationally in the last 12 to 24 months. Late last year they completed&nbsp;The Queensbridge in&nbsp;<a href="https://www.apartments.com.au/developments/southbank-vic-3006">Southbank</a>, a mixed-use tower with 353 apartments and a hotel. They are currently selling Park Modern, 246 apartments near the famous Botanic Gardens in&nbsp;<a href="https://www.apartments.com.au/developments/south-melbourne-vic-3205">South Melbourne</a>, and have future projects, <a href="https://www.apartments.com.au/new-apartments/the-wilmot-173-burke-road-28-hope-street-glen-iris-vic-3146">The Wilmot</a>&nbsp;in&nbsp;<a href="https://www.apartments.com.au/new-apartments/glen-iris-vic-3146">Glen Iris</a>, the redevelopment of the Northcote Plaza, and another tower in South Melbourne.

The developer broke into Sydney just a few years ago with Two Tides in Manly. They have another project nearby, which is at the ultra-luxury end of the market on&nbsp;<a href="https://www.apartments.com.au/buildings/shoreline-manly-beach-89-90-north-steyne-manly">North Steyne</a>, fronting the beach.

It is also continuing to work through the <a href="https://www.apartments.com.au/news/nsw/first-look-time-place-settles-on-design-for-the-chimes-potts-point-redevelopment">redevelopment of The Chimes building</a> on Macleay Street in&nbsp;<a href="https://www.apartments.com.au/developments/potts-point-nsw-2011">Potts Point</a>, as well as a project on <a href="https://www.apartments.com.au/news/nsw/time-place-to-take-on-mosman-apartment-market">Mosman's Redan Street</a>.
</section>

Joel Robinson

First look: Time & Place unveils Marlborough House redevelopment designs for former David Jones warehouse in Surry Hills

The residential transformation of St Kilda Road is set to continue into with more new apartment plans for the sought-after boulevard.

Wing Tai Asia has lodged plans for a major residential tower at 464-466 St Kilda Road, replacing the former VACC House with an 18-storey mixed-use development designed around a retained heritage podium and a sculpted contemporary tower.

The proposal, prepared under Victoria’s Significant Residential Development with Affordable Housing pathway, would deliver 325 apartments and ground-floor retail across the prominent 4,653 sqm boulevard site in Melbourne’s St Kilda Road North Precinct.

The project centres on the adaptive reuse of the site’s heritage-listed VACC Building, an eight-storey office designed by Bernard Evans that has occupied the address for decades. Planning documents state the development would involve “carefully dismantling and conserving off-site the original metal fabric of the podium visible from St Kilda Road,” before reinstating it as the defining frontage of the new scheme.

Above the restored podium, Wing Tai is proposing a curvilinear residential tower. The scheme includes 172 one-bedroom apartments, 63 two-bedroom apartments, 66 three-bedroom apartments, and 24 four-bedroom apartments, alongside two ground-floor food and beverage tenancies fronting St Kilda Road.

The tower has been designed with substantial articulation and variable setbacks to minimise perceived bulk and maintain view corridors along the boulevard. Urbis, which prepared the planning report, said the design “has been significantly articulated through a curvilinear design” with “an interplay with materials, façade expression and depth” to create visual separation and visual interest.

The proposal also includes 254 basement car spaces, landscaped pedestrian links connecting St Kilda Road and Queens Lane, and a biophilic landscape strategy featuring canopy trees, raised planters, cascading greenery and a glass oculus pool overlooking the eastern frontage.

Planning documents confirm the $270.1 million development will contribute 3 per cent of project costs to the Social Housing Growth Fund as part of the application process.

Wing Tai acquired the St Kilda Road property in 2018 alongside Abacus Property Group for $95.38 million, before later consolidating ownership of the site. The property previously served as the Victorian Automobile Chamber of Commerce headquarters for around 60 years.

The transformation of the St Kilda Rd boulevard is already beginning to materialise, with a number of high-profile projects recently completed, launched, or approaching launch as developers continue to back the long-term appeal of the precinct.

Among the most notable recent completions is Louise by Samuel Property Group, just off the strip on Queens Lane, the same pocket Hirsch &amp; Faigen recently launched The Queensbury. Mirvac is too on the same street with The Albertine, which is approaching completion.

Dexus recently secured approval for its slice of St Kilda Road, while Gurner also has approved plans for the precinct.

Wing Tai unveils 325-apartment St Kilda Road tower on former VACC House site

Malaysian developer <a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> is the latest to jump into St Leonards booming Transport Oriented Development precinct.

The developer, which has previously delivered Sapphire by the Gardens apartment development in Melbourne, identified the Atchison Street site in 2023. It filed a Scoping Report around 12 months ago, and now has revealed the designs for the new&nbsp;40-storey mixed-use tower.

The State Significant Development Application covers <a href="https://next-portal.urban.com.au/projects/14650/summary">20-22 Atchison Street</a>, a 1,374 sqm site positioned between St Leonards Station and the new Crows Nest Metro station.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the project would deliver 181 apartments, above a four-storey commercial podium, five basement levels, and new public domain works along Mitchell Street. The apartment mix comprises 35 one-bedroom apartments, 39 one-bedroom-plus-study apartments, 85 two-bedroom apartments, and 22 three-bedroom residences.

The proposal has been lodged as a shop-top housing development under the NSW Government’s TOD planning pathway, which allows increased density around key transport infrastructure. The site sits within the recently rezoned Crows Nest Accelerated TOD Precinct.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b799673d-48e2-46b0-801a-0e33a9330100" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20site.png?VersionId=dPh0UfwfaHpbFL1R7H1cbZNbIW0CHbCC" />

SP Setia acquired the Atchison Street site as part of its continued expansion into the Australian apartment market. In comments made to City &amp; Country (The Edge Malaysia) in 2023, SP Setia President and CEO Datuk Choong Kai Wai described the acquisition as “a strategic move” aligned with the group’s post-pandemic market recovery strategy.

“Our target for this exceptional development is local and overseas buyers, including first-home buyers, downsizers and investors,” Choong said.

The tower has been designed as a slender vertical form rising from a mixed-use podium, with COX Architecture positioning the development as a response to the evolving St Leonards and Crows Nest skyline.

“The purpose of the project is to facilitate the delivery of high-quality housing at a strategically located site and deliver a built tower outcome that is consistent with the desired future character of St Leonards and aligns with the TOD controls,” the design report stated.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b1a85eee-76f7-436c-a6da-73ba827b9b13" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20entry.png?VersionId=dA9jHGPMcm.dDbwk4QfxqWiY5bfh3UVt" />

The podium would incorporate retail uses fronting Atchison Street, commercial tenancies, landscaped communal areas, and pedestrian improvements along Mitchell Street. Vehicle access and loading would be consolidated via Atchison Lane.

Residents would have access to more than 665 sqm of communal indoor and outdoor spaces, while the development proposes 96 parking spaces across five basement levels.

The proposal also includes a commitment for 10 per cent of residential floor space to be allocated toward affordable housing through a monetary contribution.

COX said the tower form responds directly to the emerging high-density character of the precinct while seeking to maximise solar access, cross ventilation, and outlook from apartments.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="2163f85c-f63b-4be3-aafa-f8763976cec5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_5.png?VersionId=WiAmtIKJ6.ZQ41EtYEQ1fol7AeorKBlL" />

“The building is orientated towards north,” the Apartment Design Guide compliance report noted, adding that the tower’s slim form was driven by the constrained inner-urban site dimensions.

The design also incorporates landscaped setbacks and communal open space at podium level, intended to soften the interface with surrounding streets and improve pedestrian amenity.

The project adds to a growing wave of redevelopment proposals reshaping St Leonards and Crows Nest following the opening of the Sydney Metro City line and the NSW Government’s push for higher-density housing around major transport nodes.

Last week Stockland filed plans just down the road. They want to build a <a href="https://www.apartments.com.au/new-apartments/601-pacific-highway-st-leonards-nsw-2065">52-storey tower on Pacific Highway</a>.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">First look: Stockland plans 52-storey, 538-apartment St Leonards tower&nbsp;</a>

First look: SP Setia targets St Leonards skyline with 40-storey TOD tower

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has revealed plans for a new mixed-use tower at 10 Dangar Street, Wickham, advancing a proposal that would reshape the southern gateway to Newcastle’s city centre with one of the city’s tallest residential buildings.

The State Significant Development proposal, now on exhibition, seeks approval for a <a href="https://www.apartments.com.au/new-apartments/bowline-10-dangar-street-wickham-nsw-2293">43-storey tower</a> immediately adjacent to the Newcastle Interchange. The project would deliver around 200 apartments, including 42 affordable housing dwellings, alongside 99 co-living units, a 171-room hotel, retail space, and new public domain integrated through the site.

The scheme marks a significant escalation of plans previously approved for the site. Urban Property Group took over the prominent 2,904 sqm parcel, where excavation and demolition had already commenced under an earlier consent for a 14-storey mixed-use development.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="58a96dd9-407f-4d20-86b4-94e4bfeef74b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20podium.png?VersionId=LGlf08pdFGAZDzvx_CXC4XakHNZRuEE0" />

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, the tower has been conceived as a landmark transit-oriented development anchored to the Newcastle Interchange precinct. The proposal includes 245 build-to-sell apartments across a mix of one, two, and three-bedroom residences, as well as two penthouses. Fifteen apartments and one operational unit are earmarked for NDIS housing. The co-living component would add a further 99 units, while the podium would accommodate retail uses and hotel facilities.

SJB said the site presents “a valuable opportunity to anchor the precinct by setting the standard for design, active ground planes and character at the key southern gateway.”

The architecture responds directly to the site’s position beside major transport infrastructure and within one of Newcastle’s fastest-evolving urban renewal precincts. The tower form sits above a sculpted podium designed to frame new public spaces, including a through-site pedestrian link connecting Station Street to Hannell Street, landscaped plazas, and activated retail edges.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="a7bd6ff0-f7db-4ce8-a6dc-ea56e72c6149" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20lanne.png?VersionId=xzf39VADyhj7zBQY2I9fx9vI62u2tuSb" />

The design report describes the project as part of the broader transition of Wickham into “a vibrant, high-quality mixed-use urban precinct” that leverages proximity to the station, open space, and regional connectivity.

A detailed public art strategy has also been prepared for the development. The strategy positions the project as “a transit-oriented development of state significance at the gateway to Newcastle’s city centre” and outlines a series of integrated artworks responding to Newcastle’s industrial and transport heritage.

Creative Road’s curatorial framework for the project, titled Unveil, draws on “stratified surfaces, carved volumes, and light-filled apertures” while referencing Newcastle’s transformation from an industrial city into a contemporary education and technology hub.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="77a882bb-14b1-4d28-99ff-9438e39508c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20site.png?VersionId=cevgo_vN0eKPK78P8YcEu3mKPLkpFqE7" />

The proposal is being advanced through the NSW Housing Delivery Authority pathway after being declared State Significant Development in June 2025. The accompanying scoping report states the development aims to “maximise the site’s proximity to the Newcastle Interchange by delivering transit-oriented development” while increasing housing supply and affordable housing provision within the Newcastle LGA.

Urban Property Group’s plans align with the long-term strategic vision established under the Wickham Master Plan, which identified the interchange precinct as suitable for substantial uplift in height and density. The current proposal would significantly intensify that vision, positioning the tower among the tallest developments proposed for Newcastle.

The site sits immediately north of the Newcastle Interchange, bounded by Dangar Street, Hannell Street, and Charles Street. It is surrounded by a rapidly growing cluster of residential towers and mixed-use projects that have emerged following the completion of the light rail and transport interchange.

First look: Urban Property Group unveils Newcastle’s latest tower at Wickham interchange

Bottega House has completed settlement of a landmark riverfront site in Macquarie Street, St Lucia, representing its first major Brisbane development.&nbsp;

Positioned on the banks of the Brisbane River, the <a href="https://www.apartments.com.au/new-apartments/180-macquarie-street-st-lucia-qld-4067">premium site at 180 Macquarie Street</a> features uninterrupted river frontage in one of Brisbane’s most tightly held residential precincts.&nbsp;

The proposed development, currently under assessment with Brisbane City Council, has been designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and will deliver a boutique collection of premium residences positioned specifically for owner occupiers and downsizers.&nbsp;

The residences are set to redefine luxury apartment living in the area, with a focus on architectural quality, refined finishes, landscape integration and elevated amenities including curated wellness facilities, resort-style pools and recreation spaces rarely seen in the local market.&nbsp;

Exclusive sales for the project will be led by Keenan &amp; Byrne, ahead of an anticipated launch later this year.&nbsp;

Bottega House Managing Director Nick Malloch said the project reflects the group’s ambition to deliver a highly curated residential offering within one of Brisbane’s most tightly held precincts.&nbsp;

“This is an incredibly rare riverfront opportunity and one we have approached with a long-term perspective,” Malloch said.&nbsp;

“Our vision from the outset was to create a boutique collection of residences that feel more like private homes than traditional apartments, with generous proportions, refined finishes and exceptional amenity throughout."

Malloch says there is a&nbsp;lack of premium owner-occupier stock of this quality in the market, particularly for downsizers wanting space, privacy and a true lifestyle offering without compromise.&nbsp;

"Demand is expected to be strong given the scarcity of premium riverfront opportunities of this nature within Brisbane’s inner-west."&nbsp;

Bottega House secures landmark riverfront site in St Lucia 

Roberts Co has entered a new phase of growth following its acquisition by Arada, one of the world’s fastest-growing property developers in Australia.

The acquisition is supported by a $50 million capital injection into Roberts Co’s Australian balance sheet, consisting of the previously announced $25 million recapitalisation and an additional $25 million in new funding from Arada.

This investment strengthens Roberts Co’s financial position, stabilises operations, and provides the foundation for strategic expansion beyond its New South Wales base, with a focus on new opportunities in Queensland, including the Brisbane and Gold Coast regions.

With Arada’s international resources and financial backing, Roberts Co will broaden its portfolio across residential, commercial, and infrastructure sectors, reinforcing its strong market position in New South Wales and setting itself to capture growth in one of Australia’s most dynamic construction markets.

Ahmed Alkhoshaibi, Group CEO of Arada, said Roberts Co has a proud Australian heritage, an outstanding delivery record, and a strong reputation for collaboration with clients and partners.

"By combining this expertise with Arada’s global scale and financial capacity, we are creating a platform for sustained growth in the Australian market,"&nbsp;Alkhoshaibi said.

“Our $50 million capital injection, including new funds from Arada, underlines our commitment to both stabilise and expand Roberts Co’s operations, particularly into the fast-growing Queensland market. We see significant potential in South-East Queensland’s pipeline and are confident Roberts Co is well placed to deliver lasting value for clients and communities.”

George Kostas, CEO of Roberts Co, said Queensland, and particularly South-East Queensland, is one of the most active and opportunity-rich regions in Australia right now.

"The lead-up to the Brisbane 2032 Olympic Games will bring unprecedented investment across housing, transport, and infrastructure. Roberts Co is eager to play a major role in that transformation and secure a meaningful share of this fast-growing market.”

Arada pours more funds into Roberts Co, flags expansion into South East Queensland construction market

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The second episode of the latest Grand Designs Australia airs tonight with a Californian bungalow being replaced by a sculptural, Japanese style all-timber house.
Hosted by Peter Maddison, <a href="https://www.lifestyle.com.au/granddesigns/series-3/episode-2-hampton-timber.aspx" target="_blank">Grand Designs Australia l</a>ooks at the residential project in the Melbourne suburb of <a href="/news">Hampton</a>.
The elaborate design project is undertaken by self-builders Jenny and Brett. The four-bedroom home gets a wrap-around lap pool with decking that hugs the back of house.
Its master bedroom is located on the second floor.
The origami-influenced structure is clad in spotted gum. 
Their dedication ensures the challenging rebuild triumphs despite the challenges.
In last week's episode showed a couple in Victoria’s <a href="/news">Mansfield</a> turn their vision of an indoor/outdoor lifestyle into a home.
Grand Designs Australia airs on the Lifestyle channel at 8:30pm.
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Hampton Californian bungalow feeling Japanese on tonight's Grand Designs

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Melbourne house and-land-developers should focus on offering land at its true value surrounded by the right mix of community amenities and drop their rebates and incentives, says Australand’s head of residential developments in Victoria.
The developer has set up a new website – <a target="_blank" href="https://www.righttimetobuy.com.au">www.righttimetobuy.com.au</a> – to inform prospective buyers that rebates and incentives do not add any real value and while they appear to lower the price, buyers need to “understand that banks and financial institutions factor all of this into their valuation which could ultimately jeopardise your loan application”.
Rob Pradolin, Australand general manager for residential in Victoria, says everyone who buys land that comes with an incentive is paying an inflated face price, meaning they are paying too much in stamp duty.
“As an example someone buying a block of land for $200,000 plus receives a free car worth approximately $30,000 should be paying stamp duty on only $170,000,” he says.
In addition, the unsuspecting buyer might go to the bank, having bought land for $200,000 to seek financing and run into difficulties.
“The bank will see that the buyer has a received a free gift or offer, and the buyer may need to find money to make up the difference between the valuation and the list price,” he says.
Pradolin says people should buy "on value".
He says developers need to acknowledge that the “market price of land has changed”.
“There has been a re-adjustment in Melbourne land prices. Even if there is a spike in demand there will be no dramatic increase in pricing.
“Let’s make it simple for the consumer and start selling value again not who has the biggest discount.
“The legitimate use of the rebate from a business perspective has been lost,” he says.
Pradolin says all developers have used rebates in the past, but when the market was operating normally and with a different purpose in mind such as “when you need to achieve a certain volume target that’s over and above what a normal market would deliver".
“We have use rebates to provide an incentive to a buyer to buy earlier than they would normally. Rebates allow you to adjust the net price and not affect underlying value of the property,” he says.
But he says now he says <a href="https://www.propertyobserver.com.au/land/flashy-developer-incentives-push-up-cost-%E2%80%93-and-attendant-stamp-duty-%E2%80%93-of-melbourne-land-packages-australand/2012101657196" target="_blank">“everyone” is offering rebates</a>, and “all the time” as a marketing tool, to attract buyers based on “how much incentive you can offer”.
“You lose what should be the real fundamental reason for buying – location, location, location – and the amenity and surroundings you offer in the development."
Pradolin says Australand has found that people have a degree of confidence when land is priced under $200,000.
A recent Colliers International report found the median Melbourne land prices fell by 9% from $215,000 to $205,000 over the first six months of 2012. Sales of land on Melbourne’s fringes have been in decline since the second half of 2009, falling from 16,000 sales in 2010 to just 6,000 for the first six months of 2012. Colliers International forecasts only modest growth ahead for the Melbourne residential land market.
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lschlesinger-FZcF9M3vE6

Price Melbourne land at its true value and buyers will come: Australand

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The banks have come under attack for their unwillingness to finance the development of new residential projects in Sydney and are potentially holding back the recovery of the new housing market, says BIS Shrapnel managing director Robert Mellor.
Speaking at the recent QBE LMI Housing Outlook breakfast, Mellor said developers had been telling BIS Shrapnel that a more favourable planning attitude had been adopted by the O’Farrell state government, ahead of changes to the planning regime next year.
“We are hearing from developers that the state government has changed its attitude significantly.
“The sorts of comments I am hearing is that the government is far more accommodative even without the new regime in place and that’s a favourable thing for new construction,” said Mellor.
But he said the most important thing needed to stimulate a recovery was “the banks freeing up their attitude to lending practices”.
“My personal view is that banks are being very tough on developers and very tough on individual borrowers.
“There is this perception [among the banks] that housing could still fall through the floor like it has done in other parts of the world
“They need to realise that everything has been thrown at this sector over the last three to four years – it will be nine years since the boom ended coming up this Christmas.
“You can’t talk about prices being massively overvalued when we have seen significant correction in prices, and in real terms they have declined around 12%.”
Mellor says while it is more still relatively more expensive to build in Sydney, there will be a recovery in construction on Sydney fringes.
However, he says the substantial recovery will need to come in medium density and high density construction because the old days of relying on owner occupiers building new houses are over
“You need investors.
“We have a favourable regime, but the problem is if banks take a negative attitude on that, then it will be held back
“If that’s the case there is the risk of asset price inflation – you need more supply.
“The banks have a part to play in that, whether it's funding fringe development or supporting high-rise development.
“People need to realise there is no oversupply risk and no collapse about to come.”
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Banks refusing to play ball on residential projects holding back Sydney new home construction: BIS Shrapnel

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Two current auction listings in Sydney’s inner east are amongst the smallest for their suburbs.
Agents are selling a 45-square-metre house in Paddington and a Darlinghurst house on about 40 square metres.
The smallest Sydney house that Property Observer is aware of is in Rozelle.
A tiny six-metre-wide terrace in Paddington has been listed for sale at more than half a million dollars.
The 45-square-metre property at <a target="_blank" href="https://www.realestate.com.au/property-house-nsw-paddington-111902647">4 Mary Place</a> (pictured below) maximises space with a charming rustic rooftop entertaining terrace.
<img src="/images/stories/2012/10/mary.jpg">
It has been listed through BresicWhitney agents William Phillips and Maclay Longhurst with $525,000-plus hopes for its November 17 auction.
<img width="470" src="/images/stories/2012/10/mary2.jpg">
Potential buyers enter the property through its Mary Place entry into the open-plan living and dining room. One door leads into the galley-style kitchen while the other leads into a 3.2-metre by 2.4-metre bedroom and an ensuite. A hatch leads onto the rooftop storage and entertaining area.
Marketing for the property describes it as a “sundrenched” look with weathered timber floors.
Property Observer understands the house belongs to Full Square architect Dodie McMenamin.
McMenamin bought the property in 2006 for $410,000 after it was listed for two months at $435,000. Prior to that it sold for $390,000 in 2005.
The property is close to Glenmore Road and Oxford Street.
Also listed by BresicWhitney is a cosy house on about 40 square metres in Darlinghurst.
The property at <a target="_blank" href="https://www.bresicwhitney.com.au/real-estate/id/property/10066/darlinghurst/3-sims-street/#top">3 Sims Street, Darlinghurst</a> (pictured below) is listed by agents Dominic Kuneman and Brigitte Blackman for $675,000.
<img src="/images/stories/2012/10/sims.jpg">
It has a total interior area of around 60 square metres.
<img src="/images/stories/2012/10/sims2.jpg">The two-storey home comes with a tiny courtyard decorated with a wall garden of dangling plants.
It comes with a mix of polished timber floors and tiles throughout and a gas fireplace in the loungeroom.
Potential buyers enter into the living room via Sims Street. A door at the back leads onto the dining room and kitchen, which opens out to the small courtyard at the back. A staircase in the living room leads up to the two bedrooms and one bathroom on the upper floor.
According to RP Data, it last sold in 1996 for $225,000.
Sydney’s smallest home is believed to be at <a target="_blank" href="https://goo.gl/maps/Bi4Z3">180A Evans Street, Rozelle</a> (pictured below), on 27 square metres built in a former alleyway.
<img src="/images/stories/2012/10/small.jpg">It’s pictured on Google Streetview with what looks like a Red Aston Martin with a parking ticket on it.
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Pocket-sized Paddington and Darlinghurst property listings among Sydney's smallest houses

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The Sunshine Coast is the most expensive regional market to buy residential land, according to the latest HIA-RP Data Residential Land Report.
The median lot price on the Sunshine Coast is just under $250,000, around $25,000 more expensive than buying it on the Gold Coast.
Overall, sales of residential land picked over the June Quarter.
“The June 2012 quarter saw residential land sales rise by 23.3% to be up by 29.7% when compared to the same period in 2011,” said HIA chief economist, Harley Dale.
“Growth is from a low base and the result is exaggerated by a policy-induced pull-forward in land sales in New South Wales and Victoria. Nevertheless, land sales did rise in all six state capitals and in a majority of regional areas and that is an encouraging result.”
<img src="/images/stories/2012/10/exxyland.gif">
 
 
 
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Sunshine Coast most expensive regional market to buy land: HIA-RP Data

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This week I went to an eye specialist. I’ve decided it was time to consider laser surgery as I’m short-sighted and need glasses for driving and now I also need glasses to read (yes, I know, a sign of ageing!).  I spent about an hour peering into various machines while my eyes were scanned, measured and flashed at.  At one point I thought I was in a disco with strobe lighting, but unfortunately no John Travolta materialised.

Afterwards the specialist reviewed the enlarged computer images taken of my eyes; I asked him if the measurements were showing the contours of my eyes. He looked at me and said yes and was a little curious to know how I knew this, apparently not many people ask.  I told him I was a property developer and it reminded me of the contour survey that we need before we start developing our sites (pardon the pun... get it sight / site?!).

So eyes and land both need surveying before any work can be done. It makes sense, really.  The surgeon needs detail such as the height of my cornea, and the builder needs to know the fall of the land.

[smartcode_project:default project_id=27783]

This made me reflect on how important it is to understand the contours of land. I find that many of our clients do not understand what a contour survey is and why it’s necessary, so I thought I’d focus on this today.

In the property world, a contour is an outline of a mass of land. A contour or detailed survey is done by a surveyor and required before you can start on the design of your buildings. Contour lines will be marked on the survey.  Below are some tips* that can help explain the marking you’ll see:

<ul>
<li>All points on a contour line are of the same elevation.</li>
	<li>No two contour lines can meet or cross each other except in the rare case of an overhanging vertical cliff or wall</li>
	<li>Closely spaced contour lines indicate steep slope</li>
	<li>Widely spaced contour lines indicate gentle slope</li>
	<li>Equally spaced contour lines indicate uniform slope</li>
	<li>Closed contour lines with higher elevation towards the centre indicate hills</li>
	<li>Closed contour lines with reducing levels towards the centre indicate pond or other depression.</li>
	<li>All contour lines must close either within the map boundary or outside.</li>
</ul>
*Reference: engineeringcivil.com and Ramasesh Iyer 

Once the architect or draftsperson has a contour survey then they can begin work on the plans, and the survey will indicate how much site works may be required.  For example, a sloping site will need to be levelled if you are using a slab construction and therefore the approximate height of retaining walls and volume of spoil to be removed need to be calculated.  These costs need to be allowed for by the builder and he depends on the measurements on the contour survey for this data.

[smartcode_project:default project_id=7633]

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Click to enlarge

<a href="/images/stories/2012/10/survey.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/10/surveythumb.gif"></a>

On this survey above, if you look at the first number on the top right-hand side of the survey it reads 1.06.0 then the next number down reads 105.5, this tells us there is a half metre fall from the rear boundary to this contour line. The surveyor has used 500mm intervals to the next contour line.  The last measurement at the front boundary reads 99.0.  So this tells me the site has about a seven-metre fall, so it’s a steep site. The interesting thing showing on this survey is the area in the middle of the survey where there is a break in contour lines. The surveyor has marked the survey with broken lines to indicate a change in grade. Why would this be?

I can tell you why. There was an old house built right in the middle but it had been demolished, so this part of the land had been levelled. This site, while steep, was purchased for a pier, bearers and joist style project, and the view from the top of the site is spectacular out over the valley. So it’s certainly not an ideal development site, but we made it work nicely as a dual-occupancy project.

[smartcode_project:default project_id=8082]

Accuracy of a survey is extremely important. On one site we found the surveyor (not mine, as this was a development application-approved site purchased) had taken a measurement from one metre in from the rear boundary instead of right on the rear boundary. This was not picked up until after site preparations started and the site was cut. As the site sloped from rear to front, the retaining required on this rear boundary was much more than the builder had allowed for based on the plans. So it is important if you are buying DA-approved sites, to have your own surveyor double-check the plans and proposed levels that are based on the original contour survey.

I’ll keep you updated on whether I have my sight fixed but in the meantime, set your sights on the contour survey before you start developing property.

Jo Chivers is director of <a href="https://www.propertybloom.com.au/">Property Bloom</a>, which manages property development.
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What you need to know about contours on a property development site

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The Mallee region in northern Victoria is the cheapest place in Australia to buy a block of residential land, according to the latest HIA-RP Data Residential Land Report
The median lot price in Mallee was $73,500 over the June quarter.
The Mallee municipality incorporates the rural towns of <a target="_blank" href="/news">Mildura </a>and <a target="_blank" href="/news">Swan Hill</a> as well as the Shire of Gannawarra and the Shire of Buloke.
Nationally, in the June 2012 quarter the weighted median residential land value in Australia eased by 0.3% to $192,828.
Sales were up 23.3% to 15,255, the highest number of sales recorded since the June quarter of 2010.
<img src="/images/stories/2012/10/hiaoct18.gif">
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Victoria’s Mallee tops list of 10 cheapest municipalities to buy land: HIA-RP Data

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Grand Designs Australia will return tonight for a third season on Foxtel’s The LifeStyle Channel.
Architect Peter Maddison will be looking at the Mansfield home of farmer couple Pamela and Stuart.
The couple hope to incorporate an “indoor-outdoor lifestyle” to their new home, which leaves Maddison worried they are trying to bring Melbourne to Mansfield.
The couple formerly lived in a one-bedroom home requiring visitors to sleep under the stars, a tradition they wish to continue in some fashion.
In <a href="https://www.lifestyle.com.au/granddesigns/" target="_blank">another upcoming episode</a> the spotlight will be on the construction of another couple’s Balnarring home on a rural block.
The couple plan to build a grand home complete with a swimming pool and a wine cellar but run into difficulty with poor ground conditions.
Maddison notes the packing sand has effectively turned into quicksand, as foundation works set the project behind two months.
Shot over the past 12 months with 160 shooting days for Maddison, the Australian program charts the projects undertaken by self-builders – from the initial blueprints to the long and predictably arduous building of the property and the final moving in.
“Grand Designs Australia season three sees some incredible designs built with exotic materials, proving there is no one answer when it comes to selection or style,” says Maddison.
“All the brave home owners are searching for the right answer, and I've enjoyed trying to find the truth in each.”
The fourth episode looks at a couple in Warburton who bought a former water reservoir. They had planned on building a house cantilevered over the water until their feng shui expert advised against it. They have the site blessed by a Buddhist monk.
Over the course of the episode the couple start to doubt the veracity of the feng shui consultant's level of expertise.
Most of the episodes focus on rural constructions with other episodes in Byron Bay, Barossa Valley and Ocean View. There is one episode in Hampton and one episode in Annandale.
The show is based on the successful British series hosted by Kevin McCloud. His show is currently screening its 12th season.
<a target="_blank" href="http://propertyobserver.com.au/ebooks/free-ebook-lessons-from-the-block-and-other-property-reality-television-shows">For lessons property investors can learn from property reality TV shows, download our free eBook.</a>
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Grand Designs Australia returns for a third season

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Sydney Open offers the opportunity to go behind the scenes of some of Sydney’s best-loved buildings during the first weekend of November.
Organised by the Historic Houses Trust of New South Wales as part of the Sydney Architecture Festival, Sydney Open has three feature events: Sydney Open Night, Focus Tours and City Pass.
Sydney Open night is a free event held on Friday November 2 at 6pm with inspections of five sites, including the Chief Secretary’s building designed by architect James Barnet, Hyde Park Barracks Museum designed by Francis Greenway, On Seven at David Jones, Parliament house and St James’ Church.
Focus Tours will be led by the buildings' architects and owners and will run all day Saturday, November 3, with prices starting from $30.
Some of the buildings that can be viewed include two Sydney offices BVN Studio and Challenger workplace.
Challenger won the 2012 RAIA NSW interior architecture award and made it onto the 2009 World Architecture interiors short list.
Other buildings in the Focus Tours include the newly completed Cranbrook Junior School at Rose Bay, The Jack House at Wahroonga, the Kharkov House at Bellevue Hill  – and even tour of platforms and tunnels at Central Station, but that's been already sold out.
 The last opportunity to participate in Sydney Open is the City Pass on Sunday November 4.
City passes for the general public start from $40 and $30 for concession and members.
Participants are provided with a map and a City Pass wristband that gives them access to 50 of Sydney’s CBD buildings.
One of the 50 buildings is the $667 million development 1 Bligh Street, Sydney’s first six-star green star office tower.
Other buildings that can be viewed include Government House, Deutsche Bank Place, Challenger Workplace and the Central Local court.
A full list of the buildings available for viewing for Focus Tours and City Pass can be viewed on the <a target="_blank" href="https://sydneyopen.hht.net.au">Sydney Open website</a>. 
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Sydney Open sneak peeks at city's best-loved buildings starting to sell out

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Stockland shareholders have been warned that profits will fall further in the next financial year with the Victorian residential market the standout weak spot.
Delivering his final address as managing director before he steps down in February, Matthew Quinn provided an update on residential deposits taken over the first quarter of the 2013 financial year.
Over the three months to September, net deposits taken declined from 1,127 to 1,082, with deposits on Victorian residential developments declining from 289 in the final quarter of the 2012 financial year to just 161 in the first quarter of the 2012-2013 financial year.
A smaller decline in deposits was recorded in NSW (170 to 142), with an improvement noted for Queensland (deposits up from 334 to 386) and Western Australia (334 to 393).
“Our residential business faces a high degree of uncertainty given current buyer caution,” Quinn told shareholders in Sydney today.
“There have been some signs of improvement in the housing market, particularly in Perth and we have recently been bolstered by first-home buyer stimulus targeted at the new housing market in Queensland and NSW.
“The reality, though, is that conditions are very tough in Victoria where the company’s most profitable projects are located.”
Stockland has eight residential community projects on the Melbourne fringes, including Highlands in Craigieburn and Selandra Rise in Clyde North.
Quinn reminded shareholders that at Stockland’s full-year results presentation in August, he said Australia was experiencing “the worst new housing market I had seen in more than 20 years in the industry”.
“This is not only because sales are at a cyclical low, but because this has persisted despite conditions that would normally stimulate activity – low unemployment, low interest rates, undersupply of housing and low rental vacancy rate.”
Quinn says that in every state where Stockland operates housing approvals are tracking well below the long-term average, and nationally the market is 18% below historical averages.
“Housing approvals is a lag indicator and these figures don’t yet reflect the recent downturn in Victoria which we expect to show through sharply in coming months.
“The good news is that population growth remains strong and this cycle will turn, but the question is ‘when’.
“We need to see a trigger for improvement – a sense that the market is moving, so cautious consumers become more concerned about acting too late than acting too soon.
“Interest rates are normally a driver of this, but in this cycle home owners are just paying off their mortgages more quickly rather than taking on more debt. In the long term this is a good thing, but it’s painful while we go through this process.”
 
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Quinn also reminded shareholders that while there is always a big focus on Stockland’s residential business, the majority of its assets are “investment properties where the profits are very predictable from secure, rental backed contracts”.
He said Stockland’s $5 billion shopping centre portfolio continued to perform well in the challenging environment and is expected to achieve 2% to 3% comparable net income growth in the 2013 financial year.
However, overall profit from Stockland's commercial property investments will be lower than last year. 
In addition, while Stockland’s retirement living business continues to see strong demand for products, "settlements are being impacted by the soft residential market conditions, particularly in Victoria".
In his address to shareholders, Stockland chairman Graham Bradley said a “combination of factors including low consumer and business confidence, anxiety about global economic conditions and fear of unemployment” have combined to produce headwinds, which have impacted on Stockland’s profit performance in the 2011-12 financial year. He said these headwinds “will continue to do so in the current 2013 financial year when, I regret to report, we expect our profit to decline further”.
Stockland profits fell 7% to $676 million in the 2012 financial year, with profit from its residential business falling 15%.
Bradley said the Stockland board is confident of delivering improved returns from the 2014 financial year, “as our three major retail developments come on line and as we launch new residential projects”.
He also thanked Quinn and said Stockland had grown significantly under Quinn’s leadership, who also steered the company through the 2008 financial crisis.
Bradley said the search for Stockland’s next managing director was progressing well.
“We look forward to announcing the appointment of our new managing director in due course.
“In terms of day to day operations, we are pleased to have a strong management team in place who will ensure that our business maintains momentum and achieves a smooth leadership transition.”
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