Builder-developer&nbsp;<a href="https://www.apartments.com.au/developers/graya">Graya</a> has secured a prime Newstead site from fellow developer Fraser, subsequently lodging plans for The Silo, a major mixed-use residential project in Newstead designed around a new public laneway linking the James Street precinct with the wider Gasworks and Newstead neighbourhood.

Proposed for the corner of Chester and Morse streets, the <a href="https://www.apartments.com.au/architects/bureauproberts">Bureau^Proberts</a>-designed project places its strongest emphasis at ground level, where retail, landscaping and a new cobblestone pedestrian connection would open the site to the surrounding neighbourhood. The design team describes The Silo as “more than a residential building”, positioning the development as an extension of Newstead’s public realm rather than a standalone apartment tower.

“A new cobblestone laneway and landscaped connection between James Street and Gasworks unlock a missing pedestrian link, improving walkability and stitching together two of Brisbane’s significant urban destinations,” Bureau Proberts said in its Urban Design Report.

<img alt="First look: Graya plans The Silo as new pedestrian link between James Street and Gasworks" data-entity-type="file" data-entity-uuid="0ea1b06a-75f5-40a5-b2c5-33c97bc86052" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/silo%20bldg.png?VersionId=KmjsAtNePu57_B31EM_DJ5T6KPJHtcmo" />

The Silo is planned as a mixed-use development incorporating apartments alongside a bar and centre activities including food and drink outlets, indoor sport and recreation, office and retail uses.

Architecturally, Bureau Proberts has conceived the building as a collection of vertically expressed, stepping forms rather than a single uniform tower. The composition rises from an articulated podium before being broken by a triple-height landscaped recreation level, with the upper section becoming more compact before terminating in a landscaped rooftop garden.

The project's name and architectural language draw directly from Newstead's industrial history. Patterned off-form concrete is proposed as the principal façade material, complemented by slender metal rod balustrades and extensive planting. The cylindrical and vertically ribbed elements give the building its silo-like expression, while curved balconies and planted edges introduce a softer subtropical layer.

“The Silo reinterprets its robust forms, scale and materiality through a contemporary subtropical architectural expression, creating a building that acknowledges its industrial legacy, while responding to the way the precinct is occupied today,” Bureau^Proberts said.

The recreation level is one of the defining breaks in the tower. Plans include a lap pool, mature subtropical planting and shared resident facilities within an elevated communal garden. Landscaping continues through the podium and onto the rooftop, where a further garden forms what the architects describe as a “subtropical crown” to the building.

<img alt="First look: Graya plans The Silo as new pedestrian link between James Street and Gasworks" data-entity-type="file" data-entity-uuid="f8451036-35a4-49a9-8d88-2ef4438eba3d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Silo%20Lane.png?VersionId=h8N31_rYmCEqoNrpt4kbYVQhJGZn60LH" />

At street level, the development has been designed to establish a more permeable block. Retail and hospitality tenancies address the public realm, while landscaped pedestrian spaces lead into the new laneway connection. Renders in the design report show the proposed “Silo Lane” as a substantial opening through the podium, framed by cylindrical concrete forms with cascading planting above.

The Silo continues Graya's move into larger apartment developments after building its reputation across high-end residential projects in Brisbane and the Gold Coast.

Joel Robinson

Graya buys Frasers Newstead site, plans The Silo between James Street and Gasworks precincts

<a href="https://www.apartments.com.au/developers/wickton">Wickton</a>’s completed Linacre Rise development in Hampton is giving Bayside downsizers the opportunity to move into a spacious apartment near the beach, with the developer covering stamp duty for a limited time.

The 27-residence development has been designed for buyers who want to simplify their living arrangements without giving up the space, warmth and quality associated with a long-term family home. Most apartments have already been secured by Bayside locals, leaving a select collection of two and three-bedroom residences and penthouses available.

Two-bedroom apartments are priced from $1.275 million, three-bedroom residences from $2.25 million and penthouses from $3.375 million, with the completed homes available to inspect and move into now.

[smartcode_project:default project_id=95289 project_image_fid=366760]

<a href="https://www.apartments.com.au/buildings/linacre-rise-hampton-8-10-linacre-road-hampton-vic-3188">Linacre Rise</a> occupies an elevated position on one of <a href="https://www.apartments.com.au/developments/hampton-vic-3188">Hampton</a>’s quiet, tree-lined streets, around 250 metres from the bay and 500 metres from Hampton’s village centre. Its setting gives residents access to the beach, local cafés, shops and Hampton Train Station while retaining the feel of an established residential neighbourhood.

Architecture and interiors by <a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a> draw on the warmth and permanence of traditional brickwork, with the building integrated into terraced landscaping by <a href="https://www.apartments.com.au/landscape-architect/john-patrick-landscape-architects">John Patrick</a>. Ground-floor apartments are elevated above the street and include private garden courtyards, while several upper-level residences have generous balconies and outlooks toward the bay.

Inside, the residences favour natural materials and generous proportions. Herringbone-pattern European oak flooring, natural stone benchtops, premium joinery and Swiss V-ZUG appliances are among the key inclusions, while integrated storage has been incorporated across kitchens, bathrooms, studies and living areas.

The kitchens have been planned as practical spaces for both everyday use and entertaining, with substantial island benches, detailed cabinetry and adjoining dining and living zones. Full-height wardrobes, plush bedroom carpeting and carefully considered lighting reinforce the residential character Wickton sought to retain for buyers moving from larger homes.

[smartcode_project:default project_id=95289 project_image_fid=366769]

A Linacre Rise purchaser said the completed apartment had delivered the space, outlook and construction quality they had been seeking.

“The unit is very light, has views to die for over the bay, all construction materials and fittings are premium quality, we have secure parking for three cars, EV charging at very competitive rates, the neighbours are friendly and there is just a lovely ambiance about the place,” the purchaser said.

Environmental features include solar panels, shared electric vehicle charging stations, rainwater harvesting for toilet flushing and landscape irrigation, double-glazed windows and water-efficient fixtures and appliances.

[smartcode_project:default project_id=95289 project_image_fid=366762]

The development was built by Balmain &amp; Co, with Wickton managing the broader development process through its in-house team.

For downsizers, the project’s completed status removes much of the uncertainty associated with buying off the plan. Purchasers can inspect the finished apartments, understand their outlook and proportions, and move in without waiting for construction to conclude.

The remaining selection includes north-oriented balconies, corner configurations and penthouses with elevated bay views. The developer-paid stamp duty initiative is available for a limited time, with potential savings of up to $200,000 depending on the residence purchased.

[smartcode_project_cta:default project_id=95289]

Limited-time stamp duty offer at completed Linacre Rise apartments in Hampton

Luxury apartment buyers have long prioritised design, space and finishes, but increasingly they're placing equal importance on something less tangible: how easily they can live without relying on a car.

At <a>Richmond Square</a>, <a href="https://www.apartments.com.au/developers/fortis">Fortis</a> believes that convenience begins beyond the apartment itself, with the mixed-use precinct earning a near-perfect Walk Score of 99.

The development has been planned around the idea that some of the most valuable amenities aren't contained within a building, they're the restaurants, cafés, parks, transport connections and daily conveniences that can all be reached on foot.

Located just behind Swan Street and Church Street, <a href="https://www.apartments.com.au/new-apartments/richmond-square-1-wiltshire-street-richmond-vic-3121">Richmond Square</a> places residents within one of Melbo​u​rne's most established lifestyle precincts while offering a quieter residential setting removed from the busiest thoroughfares. East Richmond Station is moments away, trams run along both Swan and Church Streets, and the MCG, Melb​​ourne Park, Yarra River trails and the CBD are all within walking distance. At the same time, the precinct itself will introduce a curated mix of dining, retail, hospitality and wellness offerings, creating a destination that extends well beyond its residential buildings.

[smartcode_project:default project_id=13181 project_image_fid=348530]

For Fortis, that combination of location and scale was what made the site unique.

"<a href="https://www.apartments.com.au/developments/richmond-vic-3121">Richmond</a> is one of Melb​o​urne's most established and distinctive inner-city neighbourhoods, with a rare combination of dining, culture, recreation, public transport and proximity to the CBD," the developer said.

"The opportunity at Wiltshire Street was particularly compelling because the site sits slightly removed from the activity of Swan and Church Streets while remaining only moments from everything that makes the area desirable."

Rather than developing a standalone apartment building, Fortis consolidated 15 individual properties to create one of the larger development parcels assembled on Mel​b​ourne's city fringe in recent years. That allowed the team to deliver a genuine mixed-use precinct comprising 107 residences across Wiltshire House and Carmine House, premium office space, hospitality venues, retail, wellness offerings and a future 57-room hotel.

"The scale of the site allowed Fortis to think beyond a standalone apartment building," the developer said.

"Richmond Square could be planned as a complete lifestyle precinct, bringing homes, workplaces, dining, retail, hospitality and wellness together around a series of activated public spaces. The aim was to create a destination that feels connected to Richmond rather than separate from it."

[smartcode_project:default project_id=13181 project_image_fid=348533]

The emphasis on walkability has also resonated with buyers.

Interest has been strongest from established owner-occupiers, particularly downsizers from Richmond and Melb​ourne's inner east who want to remain close to familiar restaurants, workplaces, family and social networks while moving into a more secure, lower-maintenance home. The project is also attracting Mornington Peninsula and interstate buyers seeking a Melb​ourne residence they can lock up and leave between visits.

Many are looking for generous living spaces, room to entertain, quality finishes and confidence in the project team, but location remains one of the biggest deciding factors.

"For many buyers, Richmond Square provides a way to simplify the practical side of home ownership without reducing the quality of their lifestyle," the sales team said.

"Location is also a major driver of interest. Buyers can remain connected to the CBD, major sporting events, the arts centres, local restaurants, cafes and bars and their family while living in a private and secure residence that is easy to lock up and leave for weekends or longer periods away."

[smartcode_project:default project_id=13181 project_image_fid=348549]

The residences themselves have been designed with that buyer in mind. Award-winning architecture practice SJB and interior designers Hecker Guthrie have created spacious two and three-bedroom apartments and penthouses that prioritise generous living areas, natural light, bespoke joinery and private terraces. Above, a rooftop sanctuary by Acre includes landscaped lawns, bookable dining rooms, barbecue facilities, wellness spaces and panoramic views across the CBD, the MCG and Port Phillip Bay.

Fortis believes Richmond Square reflects a broader evolution in apartment living, where the surrounding neighbourhood becomes just as important as the residence itself.

"Richmond Square introduces a different proposition: generously proportioned residences within a genuinely mixed-use, hospitality-led destination," the developer said.

"The project's location and Walk Score of 99 further support a lifestyle where residents can complete many everyday journeys without relying on a car."

Fortis has assembled an experienced team that includes <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, <a href="https://www.apartments.com.au/interior-designers/hecker-guthrie">Hecker Guthrie</a>, <a href="https://www.apartments.com.au/landscape-architect/acre">Acre</a> and builder <a href="https://www.apartments.com.au/builders/hacer-group">Hacer Group</a>, reflecting the developer's commitment to creating projects with enduring design quality and meaningful connections to the communities in which they sit.&nbsp;

Richmond Square is an expression of that philosophy, bringing together homes, workplaces, hospitality and wellness within one of Me​lb​ourne's most walkable neighbourhoods.&nbsp;

Construction is now almost complete, providing purchasers with growing confidence ahead of its expected September 2026 completion.

[smartcode_project_cta:default project_id=13181]

Walk Score of 99 places Richmond Square at the heart of Melbourne's most connected lifestyle

<h3 data-end="19" data-section-id="1dvgwoe" data-start="0">Summary</h3>

<ul data-end="634" data-start="21">
	<li data-end="170" data-section-id="1o77v31" data-start="21">Walker Corporation has lodged plans for a second major residential development in the Maroochydore City Centre, a 29-storey tower known as Celeste.</li>
	<li data-end="327" data-section-id="1lb0y6t" data-start="171">The Plus Studio-designed proposal at Lot 30 Sunshine Coast Parade would deliver 208 apartments, including four four-bedroom sub-penthouses and penthouses.</li>
	<li data-end="487" data-section-id="za720" data-start="328">The application comes as Walker doubles down on Maroochydore following the strong sales campaign at SOL by Walker, where the first tower is nearing sell-out.</li>
	<li data-end="634" data-section-id="5sovec" data-start="488">Walker is a key partner in the transformation of the Maroochydore City Centre, which is expected to ultimately deliver at least 4,000 new homes.</li>
</ul>

Walker Corporation is doubling down on Maroochydore following the successful sales campaign at its first residential project in the emerging CBD.

The national developer has filed plans for <a href="https://www.apartments.com.au/new-apartments/celeste-30-sunshine-coast-parade-maroochydore-qld-4558">Celeste</a>, a new 29-storey apartment tower at Lot 30 Sunshine Coast Parade, just metres from its under-construction SOL by Walker development.

The plans, prepared by Plus Studio, would see 208 apartments delivered across a 100-metre tower on the 2,376 sqm site, which fronts Sunshine Coast Parade, First Avenue and Future Way within the Maroochydore Priority Development Area.

<img alt="Walker" data-entity-type="file" data-entity-uuid="17038209-6fea-4ed2-855d-fd4df65b3d02" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-10%20at%2010.24.16%E2%80%AFAM.png?VersionId=iZD.oVXcQn.aLpUytDAW.CWjxP4puWMy" />

The proposed apartment mix comprises 36 one-bedroom apartments, 48 two-bedroom apartments, 72 two-bedroom apartments with an additional multipurpose space, and 48 three-bedroom apartments.

The upper levels would be capped by two four-bedroom sub-penthouses and two four-bedroom penthouses, taking the total apartment count to 208. The preliminary yield study also provides 262 car spaces, 114 resident bicycle spaces and storage for each apartment.

It represents Walker's next major residential move in the new Maroochydore CBD after the success of SOL by Walker, its $220 million two-tower project nearby.

SOL launched to market in early 2025 and has since seen strong demand, particularly from local owner-occupiers. By February this year, Walker said the first SOL tower was nearing sell-out, with a strong waitlist also emerging for its recently released penthouse collection.

Construction is already underway on SOL, with the first tower expected to be completed in late 2027 and the second to follow in early 2028.

[smartcode_project:default project_id=147777 project_image_fid=319846]

<h2 data-end="2518" data-section-id="1b2dyo5" data-start="2459">Celeste to rise 100 metres over Maroochydore City Centre</h2>

Celeste would take a different form to the twin 19-storey buildings at SOL.

Plus Studio has designed a single 100-metre tower above an activated podium, with the architecture responding to the site's prominent position and three street frontages.

The podium would incorporate commercial tenancies and public art, with sweeping façade elements wrapping the street edges. The scalloped concrete podium has been inspired by the patterns created in sand at low tide, while extensive landscaping would continue vertically through the tower.

The ground level plans show three commercial tenancies addressing Sunshine Coast Parade alongside the residential lobby and landscaped public realm. The podium would then accommodate several levels of car parking before the residential tower rises above.

<img alt="Celeste" data-entity-type="file" data-entity-uuid="121f77b1-71c5-46d7-9b36-0a7d474211ca" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-10%20at%2010.24.47%E2%80%AFAM.png?VersionId=MGrg9Hb7HgzLN0Lelq_xrXNAruVl77ia" />

Plus Studio said the tower had been designed to maximise views from each apartment, taking in the Maroochy River, Sunshine Coast hinterland, Cotton Tree and Maroochydore Beach and ocean.

Those views have also shaped one of the project's key features, with Walker proposing to put the primary resident amenity on Level 29 rather than lower within the building.

The rooftop would feature a 284.9 sqm pool area with an infinity edge, along with a cold pool, spa, sauna, 93.2 sqm gym, sunset lounge, BBQ and dining areas, pool deck and private dining space. Cabanas and day beds are also shown across the recreation level.

The two penthouses would extend across the upper levels and each feature private terraces and plunge pools.

<h2 data-end="4202" data-section-id="v5f4ix" data-start="4160">Walker's growing Maroochydore footprint</h2>

Celeste further reinforces Walker's commitment to the transformation of Maroochydore City Centre.

Walker is one of the key partners delivering the new CBD alongside Sunshine Coast Council and SunCentral Maroochydore, with the broader 62-hectare Priority Development Area occupying the former Horton Park Golf Course and surrounding land.

The precinct is ultimately expected to accommodate at least 4,000 new homes as Maroochydore evolves into the Sunshine Coast's principal commercial and residential centre.

When SOL secured approval in February 2025, Walker Managing Director and CEO David Gallant described it as the "first of many residential projects" the company planned for the Maroochydore City Centre.

Celeste now provides the clearest indication yet of what comes next.

The site sits immediately within the new CBD, with the design report identifying Sunshine Plaza and surrounding parkland within walking distance and Maroochydore Beach around a five-minute drive away.

For Walker, the timing of the application comes as its first residential bet on the new CBD appears to have been vindicated.

SOL has progressed from planning approval to construction while its first release has approached sell-out, giving Walker confidence to push ahead with another 208 apartments and take its residential pipeline in the Maroochydore City Centre to around 450 dwellings across the two projects.

Celeste remains subject to planning approval, with the architectural material describing the scheme as a preliminary yield study that may change through the assessment process.

Walker doubles down on Maroochydore with 29-storey Celeste apartment tower

For most Australians, buying an apartment is one of the biggest financial decisions they'll ever make

The location, floorplan and price are often the first considerations, but in recent years another question has become increasingly important: who is actually delivering the project?

A series of high-profile builder collapses, construction delays and defect concerns have fundamentally changed how many Victorians approach buying off the plan. The collapse of Porter Davis in 2023, which reportedly left around 1,700 homes unfinished, became one of the most visible examples of the risks that can emerge when a construction company fails. <a href="https://www.equifax.com.au/sites/default/files/lpassets/pdf/Final-Business-Market-Pulse-June-Sector-Deep-Dive-Report-2.pdf">Similar challenges across the broader construction sector</a> have left buyers asking more questions before signing a contract.

As Victoria continues encouraging higher-density housing to address supply shortages, transparency is becoming just as important as location or price.

One tool increasingly entering the conversation is the <a href="https://icirt.com/">Independent Construction Industry Rating Tool (iCIRT)</a>, an independent assessment framework designed to help buyers better understand the developer or builder behind a project. Originally developed by Equifax in consultation with government and industry as part of NSW's Construct NSW reforms, the system has since expanded nationally.

<h2 data-end="1519" data-section-id="7nmx3" data-start="1492">What is an iCIRT rating?</h2>

Most Australians are familiar with independent ratings in everyday life.

We compare ANCAP safety ratings before buying a car. We look at Health Star Ratings in supermarkets. Banks rely on credit assessments when lending money.

Until recently, however, there has been very little independent information available to help apartment buyers assess the business responsible for delivering a residential project.

That gap is what iCIRT was designed to address.

Builders, developers and other construction professionals with an iCIRT rating have demonstrated high-trust characteristics through an independent, evidence-based assessment across six criteria: Character, Capability, Conduct, Capacity, Capital and Counterparties. This involves a rigorous review of financial health, past project track record, and ethical conduct. Crucially, an iCIRT rating could help provide property buyers with confidence that they are working with a professional who has demonstrated the capability, capacity, and willingness to return and rectify issues.

Importantly, iCIRT is not a recommendation to purchase a particular property, nor is it a traditional credit rating. It is an independent assessment framework designed to provide objective information about a construction business using a <a href="https://icirt.com/sites/default/files/2025-08/iCIRT-Methodology-Issue1-May-2021.pdf">published methodology</a>.

The system has been widely adopted in New South Wales, where more than one-third of medium and large residential builders and developers now hold an iCIRT rating, representing over two-thirds of the state's residential building market by value as of 2025/26.

<h2 data-end="3126" data-section-id="h6ohtj" data-start="3084">Why buyers are doing more due diligence</h2>

For many buyers, particularly those purchasing off the plan, the biggest risk isn't whether they'll like the kitchen finishes.

It's whether the project will be delivered on time, to the expected quality, and by a company capable of completing the development.

<a href="https://icirt.com/sites/default/files/2026-07/iCIRT%202025%20Consumer%20Survey%20Report%20v05.pdf">Consumer research commissioned by iCIRT</a> found more than half of respondents believed current protections do not adequately safeguard buyers from builder insolvencies or defective projects. Other research found 88 per cent of prospective buyers would seek independent ratings or due diligence before purchasing, while 90 per cent said trust in construction professionals is essential.

That doesn't mean buyers should rely on a single rating alone.

Independent legal advice, understanding the contract, and seeking financial advice all remain important parts of the due diligence process.

However, an independent assessment can provide another source of information alongside those traditional checks.

<h2 data-end="4138" data-section-id="pquzxc" data-start="4094">Trust is becoming a competitive advantage</h2>

The conversation isn't only changing for buyers.

Developers are also recognising that trust has become an increasingly important part of the sales process.

Five years ago, purchasers typically asked about floorplans, finishes and settlement dates.

Today, sales teams are increasingly being asked about the developer's experience, financial stability, previous projects and construction partners.

For companies with strong governance and established delivery records, an independent iCIRT rating provides another way to demonstrate those credentials before buyers even visit a display suite.

According to Equifax, the assessment can also help businesses drive sales and <a href="https://icirt.com/resources-for-business/icirt-rating-helps-scion-secure-high-value-projects">secure high-value projects</a>, as well as identify operational improvements and <a href="https://icirt.com/resources-for-business/mirvac-reinforces-brand-trust-and-quality-independent-icirt-rating">attract top talent</a>.

<h2 data-end="4962" data-section-id="1j54ng5" data-start="4912">Beyond buyers: lenders are paying attention too</h2>

The influence of independent construction ratings is also extending beyond consumers.

According to Stamford Capital's Real Estate Debt Capital Markets Survey, an increasing number of lenders now incorporate iCIRT ratings into their due diligence processes when assessing residential development finance applications.

The survey found lender adoption has continued to rise, with many respondents saying independent assessments provide additional insight into governance, counterparties and delivery capability beyond traditional financial analysis. Some lenders also reported declining funding applications where businesses had poor or no ratings.

As construction costs remain elevated and access to development finance becomes more selective, demonstrating credibility is becoming increasingly valuable.

<h2 data-end="5801" data-section-id="1qazuxs" data-start="5772">What it means for Victoria</h2>

Victoria's apartment market is entering a new phase.

The state is seeking to accelerate higher-density housing while simultaneously introducing reforms aimed at improving confidence in residential construction.

For buyers, that means there are more tools available than ever before to research the businesses behind a project.

For developers, it signals that transparency is becoming another point of differentiation in an increasingly competitive market.

Buyers are asking more questions than ever before and increasingly expecting independent information, not just marketing material, before making one of the biggest financial commitments of their lives.

Find out how to get iCIRT rated <a href="https://www.icirt.com/sites/default/files/2025-08/iCIRT-Infographic-Assessment-Process-Final.pdf">here</a>.

<hr data-end="6469" data-start="6466" />
The information contained in this article is general in nature and does not constitute personal, financial, legal or tax advice. It does not take into account your personal objectives, financial situation or needs. Therefore, you should consider whether the information is appropriate to your circumstances before acting on it and, where appropriate, seek independent professional advice.

This article contains links to third-party websites. These links are provided for convenience only. Equifax Australia does not control and is not responsible for the content, accuracy or privacy practices of external sites.

Copyright © 2026 Equifax Australia Information Services and Solutions Pty Ltd. All rights reserved.

Buying off-the-plan in Melbourne? How independent iCIRT ratings are set to change Victorian property

Prominent New Zealand apartment and hotel operator, <a href="/developers/safari-group">Safari Group</a>, is offering up a prime investment opportunity for Australians to purchase off the plan in one of the world’s most popular ski destinations.

They recently took to market Mountain Oak Queenstown Apartments, in the growing precinct of Remarkables Park in Frankton, near the airport and at the foot of The Remarkables - the mountain range the locals like to call “The Remarks”.&nbsp;

Sydney investors have shown interest in the one, two and three-bedroom apartments that secure high-season occupancy six months over the year, primarily over summer and winter months.

They average 90 per cent occupancy across their portfolio over January, February, March, August, November and December, while shoulder season months of April, July, September and October are still occupied 70 per cent of the time, with the growing appeal of Queenstown becoming not just a hotspot for the snow, but a lifestyle destination.

Even in the low seasons of May and June, occupancy levels reach around 40 per cent.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Ext_Cam15_Sunny.jpg?VersionId=SJAROUM_1s.Tr5ciMk4EEj5oAt_Vewmv" />

Safari’s Safari Hotels arm can also manage the holiday letting for an investor, from the listing on holiday accommodation websites such as Airbnb and Booking.com to the cleaning and maintenance of the investment. They’ve been in the short stay management business for 15 years and offer 24/7 support for investors, an important convenience benefit for any overseas investor

Another major drawcard for Australians is that New Zealand doesn’t have a stamp duty policy - so the entry price of NZ$639,000 (AU$586,000), is all that is payable on completion.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/313_Livingv2_WEB.jpg?VersionId=nV229fM0ZeYpoxOrX372HyGjfwY_LR8c" />

Safari is starting construction of the 141 apartments in Q2 this year, with a two-year build estimated to complete in mid-to-late 2027.<img alt="" data-entity-type="" data-entity-uuid="" height="15" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXczFpFAb7WuA6f4f9TtKWcqXyNwR8qqtakWv352ERkpqNlP3KwIo8YKxw67jZNHfpjEGIZGv5MQTbnvLZwNt8iu9IVdOrswOjCvBZ4zhSoOOLrpt6etVEZTN1gkBho0r_R72zdHNA?key=yq3daOanqHSb88QFd8jGYKdb" title="Click and drag to move" width="15" />​

The apartments will feature modern amenities and contemporary designs with expansive windows capturing sweeping views of The Remarkables mountain range.&nbsp;

Interiors are equipped with modern finishes, premium appliances, and secure electronic key-locked doors, ensuring a comfortable living experience for residents and guests alike.

With its strategic location near Coronet Peak and Cardrona Alpine Resort, as well as key retail and dining precincts such as Market Street, Five Mile Shopping Centre, and Remarkables Market, Mountain Oak offers a strong proposition for investors seeking high rental yields and capital appreciation in one of New Zealand’s most sought-after locations.&nbsp;

Queenstown’s sustained demand for visitor accommodation and rental properties is underpinned by a shortage of housing options, attracting both local and international buyers.

Safari Group offers low-touch investment proposition in Queenstown’s popular ski fields district

<html><body>
Beer, food and beverage maker Lion will relocate its WA headquarters to the redeveloped historic Old Swan Brewery mixed use development on Mount Bay Road, south of the Perth CBD.
Originally established in 1857, the former grand Edwardian brewery building was fully restored and refurbished by Multiplex in 2001. 
It is a coming home in a sense for Lion given that the original occupier of the historic building was Swan Breweries – a company that was purchased by the since renamed Lion Nathan between 1990 and 1992.
Lion will occupy the entire first level of the redeveloped brewery, which is located at 171 Mounts Bay Road. 
CBRE Office services director Luke Bray negotiated the five-year lease over the 1,243 square metres office floor.
The lease commences this month. 
Bray says the building’s high profile, city fringe location and the unique nature of the space had been major draw cards for Lion, which was moving its offices from Canning Vale ahead of relocating its brewing operations interstate.
“Old Swan Brewery is one of Perth’s most identifiable buildings, combining three levels of office accommodation with restaurants and luxury apartments,” Bray says.
“All areas boast panoramic views of the Swan River, with the site also benefitting from its prestige location next to Kings Park, close proximity to the CBD, ease of access to the Mitchell and Kwinana freeways and abundance of on-site car parking.”
Upon completion of the refurbishment, Multiplex (now Brookfield Multiplex) moved into levels 1 – 3 of the building and today the company still occupies two floors in the building.
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Lion comes full circle as it relocates offices to Perth's Old Swan Brewery

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The latest HIA new home sales report suggests further woes for the outer Melbourne fringe land market with new detached house sales falling 13.7% in Victoria over February.
The state led a 5.3% seasonally adjusted national decline in new home sales over February reflecting a 4% reduction in detached house sales and an 11% drop in multi-unit sales.
Sales of new detached houses fell 2.8% in New South Sales and 6.7% in South Australia.
Increases in detached house sales occurred in both Western Australia (+1.9%) and Queensland (+0.8%) during February.
The results are based on a survey of Australia's largest volume builders
“These data are disappointing in the context of the growth in sales over previous months,” says HIA senior economist, Shane Garrett.
“The broadly based decline in activity during February is a reminder of how delicate the nascent recovery in the housing industry really is. 

“If we take a broader view of the situation, the overall direction of activity is still quite encouraging.
“New home sales are up strongly over the last three months in almost all states, in terms of both houses and multi-units. 

“Nonetheless, February’s data emphasise how far housing market activity has fallen from the levels of just three years ago. The industry is struggling in the current economic environment and strong policy measures will be required to bring market activity back up to levels consistent with Australia’s long term requirements."

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New home sales "stumble" in February led by 13.7% drop in Victoria: HIA

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New South Wales leads Australian states in new residential listings activity, up 14.6% (seasonally adjusted) in the month to March 31, according to the latest information from RP Data.
<img src="/images/stories/2013/04/rpdataapril3onethumb.gif" width="470" height="262" alt="rpdataapril3onethumb">
<img src="/images/stories/2013/04/rpdataapril3twothumb.gif" width="470" height="210" alt="rpdataapril3twothumb">
The RP Data Property Index provides a lead indicator for the number of residential dwellings that are being prepared for sale across the Australian housing market. The index, which tracks the flow of metadata across RP Data’s real estate data platform, shows a 75% correlation with the number of new listings about to enter the market.
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NSW leads new residential listings activity: RP Data

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Westfield newest mall, Westfield Sydney and one of its older malls, Westfield Liverpool, were the top performing shopping centres in the Westfield Retail Trust over 2012, the trust's annual review has revealed.

The trust comprises 47 malls, 38 in Australia and nine in New Zealand and generated $20.9 billion in sales for the 12 months to December 31 last year with a <a href="/news">2% rise in earnings.</a>

Without any major new international brands to tempt shoppers, Westfield Liverpool on the outer western outskirts of Sydney managed 7.8% growth in annual sales, which reached $470 million over 2012.

The centre, built in 1971, has been extended and redeveloped three times in its life, firstly in 1991, again in 1993, and more recently in 2006, offering 85,000 square metres of retail space and 342 stores.

[smartcode_project:default project_id=6201]

At the glitzy end of town, Westfield Sydney on Pitt Street Mall, which was completed in April last year, generated 5.7% growth in sales, which reached $837 million in 2012, helped by its mix of international retailers including Gap and <a href="companies/zara" target="_blank">Zara</a>.

Westfield Sydney is the jewel in the Westfield crown standing on Australia’s most expensive retail strip and one of its biggest stores with 167,000 square metres of retail space built at a cost of $1.34 billion.

By comparison, Fountain Gate mall in Melbourne, the biggest in the group at 175,000 square metres, generated just 0.4% growth in sales. Sales may have been impacted by a $170 million face lift, which was only completed in September last year.

Sales at Westfield Bondi Junction in Sydney's eastern suburbs fell 0.6% to $961 million.

[smartcode_project:default project_id=7758]

Westfield’s top 10 performing Australian malls by sales growth in 2012

<table border="1" cellpadding="0" cellspacing="0"><tbody>
<tr>
<td valign="top" width="130">
			Store
			</td>
			<td valign="top" width="73">
			State
			</td>
			<td valign="top" width="103">
			Retail space

			(sqms)
			</td>
			<td valign="top" width="97">
			Sales growth in 2012
			</td>
			<td valign="top" width="110">
			Total sales
			</td>
			<td valign="top" width="79">
			Yield
			</td>
		</tr>
<tr>
<td valign="top" width="130">
			Liverpool
			</td>
			<td valign="top" width="73">
			NSW
			</td>
			<td valign="top" width="103">
			85,000
			</td>
			<td valign="top" width="97">
			7.8%
			</td>
			<td valign="top" width="110">
			$470 m
			</td>
			<td valign="top" width="79">
			6.25%
			</td>
		</tr>
<tr>
<td valign="top" width="130">
			North Lakes
			</td>
			<td valign="top" width="73">
			QLD
			</td>
			<td valign="top" width="103">
			61,000
			</td>
			<td valign="top" width="97">
			5.9%
			</td>
			<td valign="top" width="110">
			$390 m
			</td>
			<td valign="top" width="79">
			6.25%
			</td>
		</tr>
<tr>
<td valign="top" width="130">
			Westfield Sydney
			</td>
			<td valign="top" width="73">
			NSW
			</td>
			<td valign="top" width="103">
			167,000
			</td>
			<td valign="top" width="97">
			5.7%
			</td>
			<td valign="top" width="110">
			$837 m
			</td>
			<td valign="top" width="79">
			5.29%
			</td>
		</tr>
<tr>
<td valign="top" width="130">
			Plenty Valley
			</td>
			<td valign="top" width="73">
			VIC
			</td>
			<td valign="top" width="103">
			54,000
			</td>
			<td valign="top" width="97">
			5.4%
			</td>
			<td valign="top" width="110">
			$312 m
			</td>
			<td valign="top" width="79">
			6.50%
			</td>
		</tr>
<tr>
<td valign="top" width="130">
			Innaloo
			</td>
			<td valign="top" width="73">
			WA
			</td>
			<td valign="top" width="103">
			47,000
			</td>
			<td valign="top" width="97">
			5.3%
			</td>
			<td valign="top" width="110">
			$294 m
			</td>
			<td valign="top" width="79">
			7.00%
			</td>
		</tr>
<tr>
<td valign="top" width="130">
			Carousel
			</td>
			<td valign="top" width="73">
			WA
			</td>
			<td valign="top" width="103">
			82,000
			</td>
			<td valign="top" width="97">
			4.7%
			</td>
			<td valign="top" width="110">
			$569 m
			</td>
			<td valign="top" width="79">
			5.75%
			</td>
		</tr>
<tr>
<td valign="top" width="130">
			Figtree
			</td>
			<td valign="top" width="73">
			NSW
			</td>
			<td valign="top" width="103">
			22,000
			</td>
			<td valign="top" width="97">
			4.1%
			</td>
			<td valign="top" width="110">
			$175 m
			</td>
			<td valign="top" width="79">
			7.50%
			</td>
		</tr>
<tr>
<td valign="top" width="130">
			Doncaster
			</td>
			<td valign="top" width="73">
			VIC
			</td>
			<td valign="top" width="103">
			123,000
			</td>
			<td valign="top" width="97">
			3.8%
			</td>
			<td valign="top" width="110">
			$339 m
			</td>
			<td valign="top" width="79">
			6.50%
			</td>
		</tr>
<tr>
<td valign="top" width="130">
			Whitford City
			</td>
			<td valign="top" width="73">
			WA
			</td>
			<td valign="top" width="103">
			78,000
			</td>
			<td valign="top" width="97">
			3.0%
			</td>
			<td valign="top" width="110">
			$456 m
			</td>
			<td valign="top" width="79">
			6.75%
			</td>
		</tr>
<tr>
<td valign="top" width="130">
			Helensvale
			</td>
			<td valign="top" width="73">
			QLD
			</td>
			<td valign="top" width="103">
			45,000
			</td>
			<td valign="top" width="97">
			2.5%
			</td>
			<td valign="top" width="110">
			$339 m
			</td>
			<td valign="top" width="79">
			6.50%
			</td>
		</tr>
</tbody></table>
Source: Westfield Retail Trust Annual Review 

Westfield Retail Trust reported $20.9 billion in annual retails sales last year from its portfolio of Australian and New Zealand malls as part of annual results recently released.

It reported speciality retail sales of $9,852 per square metre from its 38 Australian malls and NZ$8,520 in speciality sales from its nine New Zealand malls.

The 47 malls are valued at $12.6 billion.

In total the portfolio offers 3.7 million square metres of gross lettable retail space with a 99.5% occupancy rate and 12,342 retail outlets.

The return on its portfolio is 5.9% in Australia and 7.5% in New Zealand with a total average yield of 6%.
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Westfield top 10 malls: Westfield Sydney shines but Bondi Junction disappoints

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Improving market sentiment, low interest rates and appealing yields were some of the factors that propelled Centuria to set up a listed property trust under the leadership of former Mirvac boss Nick Collishaw, says Centuria chief executive John McBain.
Collishaw was appointed to head up the new business division earlier this month and will <a href="https://www.propertyobserver.com.au/industry-news/former-mirvac-boss-nick-collishaw-to-establish-listed-property-funds-business-at-centuria/2013031259838" target="_blank">begin with Centuria on May 1.</a>
McBain says Centuria is currently working very hard sounding out institutional investors and has offers out in the market for a “few hundred million dollars of real estate” which will form the core of the new listed trust.
While it’s too early to say what the exact composition of the trust will be, McBain says it will be diversified to some extent but with a very clearly defined strategy.
“It won’t be a blancmange,” he tells Property Observer with a launch date pencilled in for later this year.
McBain says the ASX-listed business, which already has a $1 billion plus unlisted property funds arm led by Jason Huljich and an Asian wholesale investment division led by Chong Woon Pin in Singapore, was always looked at adding a third arm to its strategy - when the listed property trust sector became a good value proposition.
He says the availability of assets at appealing yields compared to interest rates, the recovery of net tangible asset values and the availability of equity for new transactions motivated Centuria to set up its A-REIT, led by Collishaw.
“We have raised $170 million this year and are one of the more active and larger property fund managers,” says McBain.
Its most recent syndicate investment, the 175 Castlereagh Street fund, closed over-subscribed with initial distributions starting at 9%.
Centuria Property Funds acquired the CBD office building for $56 million in January.
“We felt there was plenty of scope for other things. We have one of the larger property teams on eastern seaboard, and we rate them highly," says McBain.
“The general popularity of A-REITS has recovered and we believe there is space for one more in the sector.
“That’s not just my opinion, but the market opinion regarding the sector.
“We are taking advantage of the conditions, but then it’s down to property skills.”
McBain said getting Collishaw on board was a natural fit.
“He is a friend and someone we can work with. He was very easy to approach.”
“The listed property trust will be Nick’s show.”
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New Centuria listed property trust to take advantage of improving A-REIT conditions: CEO John McBain

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There are still plenty of full office floors available for lease in the Melbourne CBD according to the latest figures compiled by Savills.
The real estate group counts 76 full office floors available for lease in February, unchanged from January.
At the same time last year, there were 61 floors available for lease.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2013/04/chartoftheweekapril3.gif"><img src="/images/stories/2013/04/chartoftheweekapril3thumb.gif"></a>
Savills says new office developments and government staff cuts in the central Melbourne precinct are behind the high number of prime full floors currently available for lease.
However, the group says the increased availability has sparked a recent spike in enquiry for full floors as tenants look to "take advantage and secure prime opportunities in a tenant’s market". 
Savills’ divisional director o office leasing, Phillip Cullity, says tenants are now increasingly aware that opportunities to secure the best space in the best location occurred in a market where total vacancy levels were on the rise.
"And tenants who have done their research will also realize that a rising total vacancy rate doesn’t necessarily mean a consequent rise in the number of full floors available. For example we now have vacancy at around 7% and 76 vacant floors but when full floors peaked at 88 in July last year the vacancy rate was just 5.6%.
"At the same time they realise that regardless of market phases there will always be competition for quality space and that’s why we are now seeing this upturn in interest from larger tenants.
 "Why wouldn’t you consider your options when you have historically high number of options at a time when there are very competitive rents and the likelihood of equally attractive incentives," he says.
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Still plenty of full office floors available for lease in Melbourne CBD: Chart of the week

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Most investors believe keeping an eye on the daily media will provide you with the best opportunities.
Others will mainly focus upon distressed sales like "Mortgagees' Auctions".
However, by doing that, you are effectively pitting yourself against considerable competition.
And while the property itself may be first-class, you are unlikely to end up with a "top deal".
How to make it work for you
That's not to say you shouldn't consider commercial properties being auctioned or put to tender.
However, your best interests will not be served by actually participating, as part of that advertising campaign.
You see, as the market improves, vendors will start to become "a little high in the stirrups" as far as the price expectations are concerned.
As such, the auction/tender campaign can often serve as an education process where vendors discover what the market considers their property is really worth.
However, once the sale date passes without achieving a result, the general buying public loses interest and tends to move on to the next approaching auction or tender.
This is when you swing into action!
If that particular property remains unsold after three or four weeks, you need to understand two things:
<ol>
<li>There is nothing necessarily wrong with the property itself; and</li>
<li>The vendor is most likely now ready to meet the market on price.</li>
</ol>
Therefore, what the daily media provides you is an upcoming inventory of potential opportunities — which you then need to monitor.
But you should only begin spending time investigating these properties a week after the sale date has passed. And then, only the properties which fit your <a target="_blank" href="https://www.propertyobserver.com.au/commercial/australia-to-continue-as-commercial-property-investment-hotspot-in-2013-jones-lang-lasalle/2013032760094">investment</a> objectives.
Avoiding the competition
Wouldn't you prefer to investigate a buying opportunity without the added pressure of competition?
Developers and investors often want to sell their properties as soon as a tenant has committed to a new lease or exercised option.
But in the current economic climate, it can take anywhere from three to five weeks before the formal lease is actually signed after reaching agreement on the commercial terms.
Therefore, what I've done to help my clients is build up a close-knit group of agents who will keep me abreast of any such opportunities.
You see, until the lease is actually executed, those agents cannot offer the property to the open market. However, an offer to lease has been signed; and the first month's rental paid.
As such, the deal does exist, but it still needs to be formally documented.
Bottom line: With these opportunities, my clients are able to reach an agreement to purchase the property, subject to the lease being executed on the agreed commercial terms.
But the real bonus is the saving in advertising expenses (now the vendors can make a quick sale, without any advertising costs) because it ultimately translates into a reduction in the purchase price.
And that means a win-win outcome for both parties.
Chris Lang is an advisor to commercial property investors, sell-out author and regular speaker on how to invest in commercial property. You can visit his website <a target="_blank" href="https://property-edge.com.au/" rel="nofollow">Property Edge Australia</a> to help you get the most out of your commercial property investing.
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chrislang-EQKojcgJPV

Keep an eye on commercial properties that fail to sell: Chris Lang

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The Redcape Hotel Group has earned around $10 million following the sale at auction of six Coles-leased hotels and stand-alone Liquorland bottle shops in Queensland.
All sold at prices above book value at yields starting from 7.38%.
All of the properties are backed by long team leases to Liquorland Queensland, a wholly owned subsidiary of Coles.
The highest price was achieved for the Mansfield Hotel and First Choice Liquor in Townsville, which sold for just over $4 million at a yield of 8.21%. 
Also sold was the Ant Hill Hotel and Liquorland at Mareeba in the Atherton Tablelands ($1.75 million at 7.7% above book value) as well as the Commonwealth Hotel and Liquorland at Innisfail south of Cairns for $1.75 million. 
The three bottleshops are all located in and around Cairns -Liquorland Woree (just over $600,000), Liquorland Southside at Woree ($620,000 – 6.9% above book value) and Liqorland Coastwatchers at Trinity Beach ($890,000).
The campaign was steered by CBRE Hotels director Joel Fisher and Billy Holderhead of Burgess Rawson.
<a target="_blank" href="/news">Trevor O’Hoy</a>, the former CEO of brewing giant Foster’s, is the non-executive chairman of Redcape.
 
 
 
Mr Fisher said three of the buyers had come from the Melbourne bidding room with the other three buyers from the Sydney bidding room. However, there was active bidding from all locations.
 
He added that the strength of the Coles tenancy covenant combined with the improving sentiment in the hotel investment sector had underpinned significant interest in the sales campaign.
 
“Coles is Australia’s second largest hotel operator with around 100 hotel venues across the country,” Mr Fisher said.
 
“Given the security of the lease covenant we fielded strong interest from passive investors, not just from Queensland but from right across the country, with all of the properties offering long lease terms and guaranteed future rental growth, well above inflation.”
 
All of the properties are backed by initial long term leases (most of which commenced in 2006) with options. Mr Fisher said the lease terms included very favourable rent increases of 4% annually and all properties boasted good underlying property values.
 
One of the leading assets in the portfolio was the Mansfield Hotel and First Choice Liquor in Townsville, which sold for just over $4 million at a yield of 8.21%.
 
 
Also sold was the Ant Hill Hotel and Liquorland at Mareeba in the Atherton Tablelands ($1.75 million at 7.7% above book value) as well as the Commonwealth Hotel and Liquorland at Innisfail south of Cairns for $1.75 million.
 
The three bottleshops are all located in and around Cairns -Liquorland Woree (just over $600,000), Liquorland Southside at Woree ($620,000 – 6.9% above book value) and Liqorland Coastwatchers at Trinity Beach ($890,000).
 
Mr Holderhead added; “The long term leases and the blue chip tenancy covenants set these assets apart from other recent hotel offerings, with the opportunity to purchase a long term cash flow with fixed increases of 4% per annum, backed by one of Australia’s largest companies, not often seen in the investment market.”
 
“In this instance, investors were given the opportunity to buy well established, highly successful hotels and bottle shops which provide long term, fixed rental cash flows above inflation backed by Australia’s 2nd largest hotel operator.
 
“There is a flight to quality in the current market and we are fielding strong demand for assets in this price range of $1m - $6m which offer highly secure income streams and quality lease covenants such as these.”
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Redcape nets $10 million from sale of portfolio of Queensland pubs and liquor stores

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The inner Brisbane strata office market is gaining momentum according to Colliers International, which recently negotiating $1.8 million in sales over three strata titled properties in and around the Brisbane CBD.
Colliers International agents Hunter Higgins and Jock Murray, who negotiated the sales, said due to low interest rates, many businesses appeared to be looking at purchasing a premise rather than renting. 
Higgins believes that the three strata properties - all purchased by owner-occupiers - indicates that the level of affordability in the Brisbane strata market is encouraging small businesses with imminent lease expiries to consider entering the owner-occupier market. 
“The level of affordability at the moment is clearly providing the impetus for these buyers to take the plunge now and buy an asset,” says Higgins. 
“From an affordability point of view, it is the ideal time for small businesses to make a move and buy their own strata unit.” 
A series of redevelopments currently happening throughout the Brisbane CBD, notably ISPT's <a href="https://www.propertyobserver.com.au/retail/ispt-proposes-new-queen-street-brisbane-retail-to-lure-zara-and-topshop/2013032159978" target="_blank">$100 million Regent Tower Windergarden</a> complex, is expected to continue to drive the growing confidence in the owner-occupier market. 
A number of strata-titled office properties within the Brisbane CBD are currently available for puchase
This include a 188 square metre <a href="https://www.realcommercial.com.au/property-offices-qld-brisbane+city-500628411" target="_blank">Edward Street</a> office asking $1.25 million, a 243 metre square office space at <a href="https://www.realcommercial.com.au/property-offices-qld-brisbane+city-5792102" target="_blank">Queen Street</a> with an asking price of $1.4 million and a 140 square metre space at <a href="https://www.realcommercial.com.au/property-offices-qld-brisbane+city-500655003" target="_blank">Adelaide Street</a> with an asking price starting at $1.1million.

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gdwyer-vyxhMDDW5L

Owner occupiers see value in Brisbane strata office market

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The <a href="https://www.realcommercial.com.au/property-retail-vic-malvern-500617179" target="_blank">225-square-metre corner retail building</a> that currently houses the chef's hat awarded Livingroom Restaurant in Malvern is on the market for around $1.5 million. 
Located at 12 to 18 Claremont Avenue, the building originally comprised of four retail shops that were combined to create an expansive space.
The building has an annual return of $76,350, which offers a potential rental yield of 5.09%.
Boasting two extensive street frontages and a rear laneway access, Livingroom was awarded a chef’s hat in last years Good Food Guide.
Colliers International has appointed Jeremy Gruzewski and Ben Baines to coordinate the sale.
“With approximately six years operation from this locaton, Livingroom is frequently featured among the best restaurants in metropolitan Melbourne with a large and loyal following of customers," says Gruzewski.
“This represents an exceptional passive investment opportunity with a secure tenant, with the locational benefits of being in one of Melbourne’s most desirable suburbs.”
The Livingroom currently has three years left on its lease and the property is being sold as one title.
 Baines says any future subdivision plans are subject to approval.
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