<a href="https://www.urban.com.au/developers/far-east-consortium">Far East Consortium</a>’s 640 Bourke Street stands as a testament to&nbsp;<a href="https://www.urban.com.au/developments/melbourne-vic-3000">Melbourne</a>’s ability to bridge its storied past with a bold vision for the future.&nbsp;

Rising above the heritage-listed Eliza Tinsley building, the development reflects a broader shift toward adaptive reuse in the city, where historical assets are retained and reinterpreted as part of new residential development.

Designed by <a href="https://www.urban.com.au/architects/rothelowman">Rothelowman</a>, <a href="https://www.apartments.com.au/new-apartments/640-bourke-street-melbourne-640-bourke-street-melbourne-vic-3000">640 Bourke Street</a> incorporates the Eliza Tinsley building as its foundation, housing a grand gallery and lobby space that serve as both a functional and symbolic centrepiece. The heritage façade informs the tower’s design, creating a connection between Melbourne’s past and its contemporary skyline.

"It's a significant asset and wants to be celebrated and experienced by all residents every single time they go in and out of the building," Rothelowman Principal Stuart Marsland said.

[smartcode_project:default project_id=509 project_image_fid=365684]

Above this historic base, the 68-storey tower will deliver just over 600 residences, a notable reduction from earlier schemes, reflecting a deliberate move toward larger-format apartments and a stronger owner-occupier focus.

Unlike traditional CBD developments that prioritised investor stock, 640 Bourke Street has been repositioned to respond to changing buyer expectations.

"The discussion was all around making 640 Bourke Street the best residence to live in, to be much more focused on the people in the building rather than people looking at the building," Marsland explained.&nbsp;

This shift is evident in the development’s interiors, which emphasise practical luxury with spacious layouts, high ceilings, and floor-to-ceiling windows framing sweeping views of Melbourne and Port Phillip Bay.&nbsp;

“What it's meant for 640 Bourke is we've actually reduced the number of apartments. We've increased the overall size of the apartments. We don't have any studios in here, and what that does for a project is it elevates it," Lauren Sheldon, Far East Consortium’s Director of Sales and Marketing, said.&nbsp;

[smartcode_project:default project_id=509 project_image_fid=365687]

Rothelowman Associate Jun Chang added, "We were given the opportunity to be more generous. The apartments became bigger and squarer than any other apartments which had been designed in the CBD before that."&nbsp;

Amenities spanning more than 3,000 sqm across multiple levels further reinforce this focus on resident experience. These include a pool, gym, co-working areas, and a range of hospitality-inspired spaces such as a whisky lounge, library, and private dining rooms, many drawing reference from traditional bathhouses and Melbourne’s laneway culture.

"We wanted to make both the pool and the gym area to be absolutely destinational, and when you traverse across to these spaces, there is a gentle familiarity to the beautiful notions of the hammams and the Roman baths, a gentle nod to history," Chang noted.

At street level, the project contributes to the ongoing transformation of the western CBD, with upgrades to Langs Lane and the introduction of retail, hospitality, and gallery spaces designed to activate the precinct and strengthen its connection to the surrounding city fabric.

[smartcode_project:default project_id=509 project_image_fid=365689]

The location places residents within walking distance of Southern Cross Station, Flagstaff Gardens, Queen Victoria Market, and the Docklands waterfront, positioning the development within a rapidly evolving inner-city neighbourhood.

"We believe it's the best site left in the city of Melbourne," Craig Williams, Executive Director at Far East Consortium, said.&nbsp;

640 Bourke Street is Far East Consortium’s 14th building in Melbourne’s western CBD.

"A very elegant designed building. It's going to be a Melbourne statement for many, many years to come."

One-bedroom apartments are priced from around $640,000, with 640 Bourke Street targeting completion in 2029.

Renders shown are Artist's Impressions correct as of May 2026.

[smartcode_project_cta:default project_id=509]

Joel Robinson

Heritage-led design anchors Far East Consortium’s 640 Bourke St, Melbourne

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD Group</a> has set a new residential price record in Queensland with the $30 million sale of the penthouse at its <a href="https://www.apartments.com.au/new-apartments/one-burleigh-88-the-esplanade-burleigh-heads-qld-4220">ONE Burleigh</a> development in Burleigh Heads.

The sale equates to around $37,500 per sqm.

The two-level, 800 sqm penthouse, featuring five bedrooms, five bathrooms, five car spaces, and a private infinity pool overlooking the Pacific Ocean, was acquired by a Gold Coast-based entrepreneur, highlighting continued demand for ultra-premium beachfront product.

Selling agent Freddie Tehle of PRD Burleigh Heads said the result reflects tightening supply of high-quality, large-format apartments in Burleigh.

“There’s very limited opportunity to secure this level of scale and absolute beachfront position in <a href="https://www.apartments.com.au/developments/burleigh-heads-qld-4220">Burleigh Heads</a>,” Tehle said.

“Buyers are increasingly seeking apartments that genuinely replace a standalone home, and this penthouse delivers that with its size, privacy, and direct ocean frontage.”

[smartcode_project:default project_id=146358 project_image_fid=323057]

The sale comes as construction progresses on ONE Burleigh, a boutique development of 17 full-floor residences at 88 The Esplanade, scheduled for completion in early 2027.

Developed by MAYD Group and designed by <a href="https://www.apartments.com.au/architects/mas-architecture-studio">MAS Architecture</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/sici-design">Sici Design</a>, the project has been positioned as a collection of house-sized beachfront apartments, each occupying an entire floor with around 381 sqm of internal and external living space.

When construction commenced, MAYD director Todd Mould pointed to the long-term resilience of premium coastal real estate as a key driver behind the project.

“Real estate, particularly at the premium end, remains one of the most resilient and proven long-term investment avenues,” Mould said.

“Our ambition is that anyone who buys a MAYD-built product can genuinely feel the care, craftsmanship and commitment we bring to every detail.”

[smartcode_project:default project_id=146358 project_image_fid=323055]

Each residence has been configured with four bedrooms, multiple living zones, a private office, and expansive ocean-facing terraces. Interiors draw on a restrained material palette, including travertine stone, timber joinery, and integrated premium appliances.

Interior designer Sici Design said the approach was to reflect the project’s coastal setting through both materiality and spatial planning.

“ONE Burleigh is our vision of luxury living, designed to bring the essence of Burleigh Heads' vibrant coastal beauty into an unparalleled residential experience.”

Residents will have access to a suite of wellness-focused amenities, including pools, sauna facilities, and dedicated relaxation spaces, reflecting a broader shift toward lifestyle-driven apartment design on the Gold Coast.

[smartcode_project:default project_id=146358 project_image_fid=323052]

The project occupies a southern Esplanade site with uninterrupted beachfront frontage, an increasingly rare offering in Burleigh Heads, free from the Norfolk Pines that line much of the coastline and often limit direct ocean outlook.

Mould said the design intent was to balance that outlook with a sense of retreat.

“Living at ONE Burleigh is about how your day naturally unfolds, morning light across the ocean, coffee on the balcony, and being in Burleigh but elevated above the noise.”

The result further reinforces Burleigh Heads’ emergence as one of the Gold Coast’s most tightly held and supply-constrained beachfront markets, where boutique, owner-occupier-focused developments are increasingly setting new price benchmarks.

[smartcode_project_cta:default project_id=146358]

MAYD Group sets Queensland record with $30 million penthouse sale at ONE Burleigh in Burleigh Heads

Apartment developers in the Gold Coast are finding new, creative ways to differentiate themselves from competing projects, as new supply starts to flow through up and down the Coast.

Developer BIG Projects brought in the renowned Sydney-based design studio YSG Studio to craft the interiors for The Frederick, BIG Projects' new Mermaid Beach project and YSG Studio's first move into the multi-residential development space.

[smartcode_project:default project_id=110588 project_image_fid=5346]

It was a strategic move for BIG Projects to bring in a Sydney eye to the development.

“Our role is to give our design partners the space and freedom to explore,” says Matt Barrett, Director of BIG Projects.

“We wanted YSG Studio to capture the essence of Nobby’s, to design a building that embraces life, light and connection, while creating a genuine sense of place.”

There are only 39 apartments in The Frederick, including a striking beach house, just 100 metres from the booming Nobby Beach precinct.&nbsp;

[smartcode_project:default project_id=110588 project_image_fid=5347]

Yasmine Ghoniem, Director of YSG Studio, says their vision&nbsp;for The Frederick "reinvents coastal living."

“Nobby’s has such an iconic energy, it’s one of those rare pockets of the Gold Coast where the community, the beach, and the streets all feel connected,” Ghoniem says.

"Responding to the neighbouring coastline, soothing curves add a relaxing regional overlay, while unique detailing really sets it apart. It’s a place that feels lived in from the moment you step inside.”

A standout feature of The Frederick is its rooftop terrace, an uncommon inclusion for a boutique, low-rise building, where amenity is typically concentrated at ground level.

[smartcode_project:default project_id=110588 project_image_fid=5360]

Positioned to capture panoramic views from the hinterland to the ocean, the rooftop has been designed as a series of intimate zones. It includes a pool, sauna, sun decks, workspaces and dedicated entertaining areas.

“The rooftop was conceived as a collection of spaces where residents can unwind and connect, an extension of the Nobby’s lifestyle,” Barrett says.

Architecture for the project was led by Plus Studio, with landscape design by LDG Landscape Architecture.

SRQ Projects Director Nick Clydsdale, who is handling sales at The Frederick, says the majority of enquiry is coming from South East QLD and Victorian buyers who have been actively searching between Broadbeach and Mermaid Beach for some time.

"They’ve reviewed a number of projects, however this one has stood out for its unique detailing and compelling design,"&nbsp;Clydsdale says.

Site demolition is slated for this month, with construction commencing soon after. BIG Projects is targeting a late 2027 completion.

[smartcode_project_cta:default project_id=110588]

Sydney’s YSG Studio makes Gold Coast multi-residential debut with BIG Projects at The Frederick

Melbourne-based property developer ALTA Property has this week achieved planning approval for the adaptive re-use of a former commercial tower into a $200 million, 169-apartment project at 10 Queens Road, one of the last developable sites along the Albert Park Lake-fronting boulevard.&nbsp;

Set within one of Melbourne’s most sought-after precincts and designed by <a href="https://www.apartments.com.au/architects/fraser-partners-0">Fraser and Partners</a>, the illustrious building will offer unparalleled views across Albert Park Lake, Port Phillip Bay and Melbourne CBD.&nbsp;

The mix of 1, 2 and 3-bedroom residences will be complemented by a ground-floor amenity featuring private dining, a lounge bar, gym and wellness spaces, co-working, outdoor communal gardens, and retail.&nbsp;

The 17-storey building is a masterclass in adaptive re-use, with the existing commercial building’s façade, shell and internal structure to be retained, before high-end residences are built from the ground up in a newly built Albert Park facing addition to the building.&nbsp;

Sitting atop the building will be two 320+sqm penthouses with private rooftop terraces, which are expected to be priced between $9 - $11 million.&nbsp;

<img alt="ALTA Property achieves permit approval for $200 million Queens Road tower" data-entity-type="file" data-entity-uuid="aa11211b-5581-43f9-940c-fc84d30a0e61" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/C_04.png?VersionId=Yhf5p_1EgGDu_zOIMFgvA8Ug8j3sTFQs" />

Architecturally, the building will feature a curved, geometric façade that celebrates and elevates the existing structure, with warm, muted tones which were selected to extend the materiality of the existing building rather than contrast it.&nbsp;

Interiors will bring together three metre high ceilings with waffle concrete in some spaces, natural timber, granite and Australian materials, culminating in crafted, generous and considered spaces that are defined by authenticity.&nbsp;

The adaptive re-use means that the Queens Road project will be a sustainability led, high-quality finished product, with a 62% saving in carbon emissions by re-using the existing structure rather than knocking it down and rebuilding.&nbsp;

ALTA Property was launched by Nigel Givoni in 2023, bringing over 25 years of experience in multi level residential delivery.&nbsp;

Melbourne’s property market growth is currently led by apartments. According to RPM VIC Apartments &amp; Townhomes Market Report (April 2026), units are outpacing houses, especially in the middle ring suburbs where median prices hit $757,500 – a four-year high that represents 2.9 percent growth quarter-on-quarter.&nbsp;

<img alt="ALTA Property achieves permit approval for $200 million Queens Road tower" data-entity-type="file" data-entity-uuid="647e13d7-b4bc-433a-9bc9-fe3c3dd4f2ec" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/V_06.png?VersionId=ou4NUCWUgA3NAy.6CQJlEdKX50j3dOk6" />

For ALTA Property Founder Nigel Givoni, this performance speaks to the confidence he has in the Melbourne market.&nbsp;

“Queens Road represents a rare opportunity to continue to shape our presence in the Melbourne market.,"&nbsp;Givoni says.

"With a considered project team and a premier site along one of the city’s most sought-after boulevards, we look forward to contributing to the fabric of this established address.

“Other Australian markets are getting a lot of attention, but I believe the depth of value in Melbourne is being overlooked. The fundamentals are strong, population growth is steady and, based on our preliminary conversations with a leading builder, construction costs are beginning to normalise, creating further opportunity."

Givoni says the project is a&nbsp;highly considered example of adaptive re-use, delivering quality, high-end residences, premium hotel-inspired amenities and an architecturally striking façade, all achieved without the need to remove the existing structure.

"We are really looking forward to the market’s response,” he said.&nbsp;

ALTA Property to deliver $200 million Queens Road apartment tower

Construction is set to begin at <a href="https://www.apartments.com.au/new-townhouses/orchard-mews-glen-iris-18-scott-grove-glen-iris-vic-3146">Orchard Mews</a> in Glen Iris, with&nbsp;PC Whitehall &amp; Sons&nbsp;now appointed as the townhome development moves into its next phase.

The development by&nbsp;<a href="https://www.apartments.com.au/developers/montcoeur">MontCoeur</a>,&nbsp;located at 18 Scott Grove, is now around 30 per cent sold, with completion targeted for late-2027.

Orchard Mews comprises a curated collection of three- and four-bedroom customisable townhomes, positioned within one of <a href="https://www.apartments.com.au/developments/glen-iris-vic-3146">Glen Iris</a>’ more tightly held residential streets. The low-density project has been designed by <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a>, with landscape architecture by <a href="https://www.apartments.com.au/landscape-architect/jack-merlo">Jack Merlo</a>, bringing together a team known for high-end residential projects across Melbourne.

[smartcode_project:default project_id=150128 project_image_fid=366285]

The development is defined by its focus on flexible living and long-term usability. Each residence includes multiple living zones and a customisable multipurpose room, allowing buyers to tailor spaces to suit changing needs, whether as a home office, additional bedroom, wellness area or entertainment space.

Architecturally, the townhomes emphasise natural light and spatial volume, with dual-aspect layouts and double-height living areas incorporated into the design. Interiors feature natural stone benchtops, premium appliances, and a neutral material palette intended to support everyday functionality rather than statement-driven finishes.

All residences are all-electric and include private lifts and secure double garages, reflecting a broader shift toward sustainability and future-focused housing in Melbourne’s established suburbs.

[smartcode_project:default project_id=150128 project_image_fid=366277]

Outdoor connections are also central to the offering, with a mix of private courtyards and terraces extending internal living spaces and integrating with the landscaped surrounds.

The Scott Grove address places Orchard Mews within close proximity to some of Melbourne’s key lifestyle and education amenities, including Scotch College, Sacré Cœur, Cabrini Hospital and the retail hub of Chadstone. Public transport access is also nearby, with trams and Gardiner Station providing connectivity to the CBD and surrounding suburbs.

[smartcode_project_cta:default project_id=150128]

Construction to commence at luxury Glen Iris townhome project, Orchard Mews

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

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GUEST OBSERVATION
Attorney-General Christian Porter added a little more flesh to the bones of the long-awaited Commonwealth Integrity Commission this week. In a National Press Club address, Porter argued there must be a balance between having a powerful investigative body and fairness to individuals investigated by the commission.
Yet commentators have roundly criticised <a href="https://www.pm.gov.au/media/commonwealth-government-establish-new-integrity-commission" target="_blank">the government’s model</a> for being <a href="https://theconversation.com/the-proposed-national-integrity-commission-is-a-watered-down-version-of-a-federal-icac-108753" target="_blank">watered down</a> and a <a href="https://www.smh.com.au/national/coalition-s-anti-corruption-body-a-sham-retired-judge-says-20190512-p51mk2?fbclid=IwAR1khmMDTdzhxlszyEKZDnUYS_D5OPxtaWHR6CO8l4_eqv6dzd0xjcMVV4M" target="_blank">sham</a>.
Queensland LNP MP Llew O’Brien has <a href="https://www.theguardian.com/australia-news/2019/nov/21/lnp-mp-may-cross-floor-over-federal-integrity-commission-legislation" target="_blank">warned</a> he may cross the floor and vote against the government on this issue. O'Brien believes politicians and their staff should be held to the same standards as law enforcers.
Crossbench MPs have also <a href="http://www.rebekhasharkie.com.au/crossbench_calls_for_national_integrity_commission_with_teeth" target="_blank">called on</a> the government to establish a national integrity commission “with teeth”.
The government intends to release a draft bill this year.
So, what is the government’s model? And why has it been criticised?
The government’s model
The government’s proposed CIC has two parts: the law enforcement division and the public sector division.
The law enforcement division applies only to law enforcement agencies and those with coercive powers. The public sector integrity division covers the rest of the public sector, federal service providers, subcontractors, as well as MPs and their staff. The commission will have the power to conduct public hearings only through its law enforcement division.
By contrast, the public sector division will not have the power to hold public hearings or make public findings of corruption. Instead, it will investigate and refer potential criminal conduct to the director of public prosecutions.
This is a far more limited jurisdiction compared to its equivalent state counterparts, such as the New South Wales Independent Commission Against Corruption (ICAC), which can conduct public hearings and make findings of corruption in the public sector.
All states now have an anti-corruption commission and the federal government is lagging behind.
Why not everyone is happy with the government’s model
The government’s model has been criticised for a few reasons.
The first is that it would fail to achieve its main aim of exposing corruption in the public sector.
The bar for investigation is too high, requiring a reasonable suspicion of corruption amounting to a criminal offence before an investigation can even begin. This is a difficult hurdle to clear.
Lessons from the state anti-corruption commissions show evidence of corruption has been unveiled through investigations based on allegations, rather than before an investigation begins.
Another major criticism is that the proposed CIC will not have the power to hold public hearings.
Public hearings ensure proceedings are not cloaked in secrecy and will increase public trust. Notable inquiries in Australia have exposed major corruption through public hearings. This includes the <a href="https://www.ccc.qld.gov.au/about-us/our-history/fitzgerald-inquiry" target="_blank">Fitzgerald inquiry</a> that revealed widespread corruption in the Queensland police force, leading to the resignations and imprisonments of various former ministers and officials.
But the attorney-general has raised legitimate issues about damage to individual reputations where a person subject to a public hearing has their reputation tarnished in the media, but is ultimately found not guilty by the courts.
This can be ameliorated by having the option of public and private hearings. Public hearings should be used only when it is in the public interest, balanced with considerations of individual reputation.
Critics have also complained about the CIC’s inability to initiate investigations itself and to receive complaints directly from the public. It can only investigate after a referral from the public sector, or if the CIC is conducting an investigation and discovers additional corrupt conduct in a different department. This is a significant limitation.
Other comparable investigative bodies have “own motion” powers to investigate issues based on public complaints.
There is no principled reason why we should keep MPs, their staff and public servants to a lower standard than law enforcement agencies. Corruption can manifest equally within the ranks of MPs, the public sector and law enforcement agencies.
The need for a national integrity commission
The public is <a href="https://news.griffith.edu.au/2018/08/20/griffith-research-shows-trust-in-government-slides/" target="_blank">calling out</a> for a national integrity commission, with two-thirds (67%) of Australians in favour of one.
A group of judges have <a href="https://www.theguardian.com/australia-news/2019/jan/23/federal-anti-corruption-body-must-have-power-to-make-arrests-and-conduct-searches-judges-say" target="_blank">signed</a> a letter calling for a national integrity commission with strong powers and the ability to hold public hearings.
Australians want a robust and well-resourced national integrity commission that has strong powers to achieve its mandate. The government should reconsider its model in light of public criticism.<img src="https://counter.theconversation.com/content/127502/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
Yee-Fui Ng, Senior Lecturer, Faculty of Law, Monash University.
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/governments-commonwealth-integrity-commission-will-not-stamp-out-public-sector-corruption-heres-why-127502" target="_blank">original article</a>.
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j.ballantyne1990-6AQqhLzZaK

Government’s Commonwealth Integrity Commission will not stamp out public sector corruption — here’s why

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EXPERT OBSERVER
When it comes to their golden years, there are three essential factors retirees should take into account when choosing property.
Lifestyle, relative affordability and building equity should all be considered by those leaving the workforce behind for the easy life.
Our analysis has identified 10 suburbs which offer a combination of all three.
Lifestyle varies from person to person. Some are looking for a seachange, others a treechange and there are many who want to be within easy distance of family.
When it comes to ‘relative affordability’, that too can depend on the individual purchaser. For example, Bryon Bay is relatively affordable for a well-off downsizer from Sydney and Melbourne, but not necessarily for those moving from other areas.
There has certainly been an increase in the number of residents leaving Sydney for other destinations, with the latest ABS figures showing 27,300 people left the Greater Sydney area through 2017-18.
And, of course, building wealth or equity over time is just as important as the two other factors. In other words, they offer good lifestyle options, value for money and solid long-term capital growth projections.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/11/27/Top%20suburbs%20for%20Retirees.jpg" alt="">
We have identified three suburbs in Queensland, five in NSW, one in Victoria and one in Tasmania. There is no particular order, as each retiree must make their own decisions based on personal preference and budget. However, it should be noted, that this list relates only to houses, and not units.
Despite the recent downturn in the property market, these areas had either shown resilience or had already experienced good recovery and that strong long-term projections were “very clear”. And, in fact, some of these areas now presented even better opportunities thanks to the recent price reductions.
For example, the Mornington Peninsula, which has a median price of $691,200, experienced a price reduction of 10.2% in the past 12 months. This is compared to Greater Melbourne which delivered a price reduction of 11% in the past 12 months. Now, with the strong recovery of the market, the increasingly popular area of the Mornington Peninsula is able to provide good buying opportunities.
These areas will most likely reach a new peak or price level in about 12 months and will have fully recovered from the downturn.
Top places to retire for lifestyle, relative affordability and capital gains:
<ul>
<li>1) Sunshine Coast, QLD</li>
</ul>
Both Peregian and Coolum beaches are based in this popular retiree area, drawn by its year-round idyllic climate, beautiful sandy beaches and lush hinterland subtropical forests. The region is only 100 kilometres from Brisbane, meaning they can enjoy the quiet life while still being only an hour’s drive from the hustle and bustle of a big city and all it has to offer. The Sunshine Coast offers a variety of housing styles and price ranges from the multimillion-dollar mansions to two-bedroom cottages depending on budget.
<ul>
<li>2) Gold Coast, QLD</li>
</ul>
Miami on the Gold Coast has a median price of $722,570 which makes it relatively affordable for those migrating from higher priced areas such as Sydney or Melbourne. The Gold Coast is popular with retirees thanks to its beautiful beachside and waterside suburbs, unrivalled lifestyle and good infrastructure. An hour’s drive from the state capital Brisbane, Australia’s sixth largest city is appealing to active mature-aged people, who can enjoy walking on the beach or in the bush, fishing, boating and cultural pursuits with an appealing climate year-round.
<ul>
<li>3) Central Coast, NSW</li>
</ul>
North Avoca, Terrigal and Wamberal on the Central Coast all offer superb lifestyle properties significantly more affordable than the beachside suburbs of Sydney and which still offer reasonable access to NSW’s capital. The area is popular with retirees and is characterised by rugged coastlines, sandy beaches, national parks, bays, inlets, waterfalls and lakes.
<ul>
<li>4) Mornington Peninsula, VIC</li>
</ul>
The suburb, Mornington, is one of the most popular on the Mornington Peninsula and is about 80 kilometres southeast of Melbourne. It is a popular tourist and retiree destination thanks to its numerous attractions which include beaches, wineries, national parks, heritage sites and a plethora of golf courses.
<ul>
<li>5) Byron Bay, NSW</li>
</ul>
This popular suburb is part of the northern region of NSW which is often referred to as ‘the Grey Coast’. Of all the suburbs on the Top 10 list, Byron Bay received the highest capital gains over the past five years of 83.1%. While its median house price was also the highest at $1.5 million, compared to Sydney and Melbourne prices, this is relatively affordable for those moving from these capital cities.
<ul>
<li>6) Hobart, TAS</li>
</ul>
Thanks to its greater affordability when compared to Melbourne, Hobart has increasingly become a popular destination for retirees despite its colder climate. Originally a penal colony founded in 1804, the city is steeped in history and heritage. It is also a major drawcard for boaties, given its harbour is the second-deepest natural port in the world. The city is known for its arts and culture, its majestic scenery such as Mt Wellington, picturesque waterways including the Derwent River and rich café and restaurant scene.
<ul>
<li>7) Hunter Valley, NSW</li>
</ul>
Louth Park in the Hunter Valley is about 120 kilometres north of Sydney. The region is one of Australia's major wine growing areas and is an attractive destination for retirees who enjoy its relative proximity to NSW’s capital city. As a popular tourist area, regular events and festivals are held throughout the Hunter Valley each year while World Heritage-listed parks provide tranquil areas to take in nature.
DORON PELEG is the CEO of RiskWise.
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The top 10 suburbs to retire and build equity: RiskWise's Doron Peleg

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An industrial investment property in Sunshine West has sold for $1,610,000.
This represents a building rate of $1,389.13, and a yield of 5.46%.
Comprising a total building area of 1,159 square metres, with a 220 square metre ground and first floor office component, this corner property benefits from a large front hardstand area ideal for loading and unloading capabilities and a fully secure and gated entrance.
The building is situated on 1,948 square metres of industrial 3 zoned land.
Positioned on the corner of Vella Drive and Grace Court, the holding provides access to the Western Ring Road, Somerville Road, Boundary Road, Fairbairn Road and is only 15kms to the Melbourne CBD.
It is currently leased to Empire Red Event Solutions, who are returning $87,975 per annum net on a 3-year lease.
The property was listed by Daniel Philip and Leo Mancino of CVA.
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Sunshine West industrial property sells for $1.6 million

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Strathpine Centre has received the go-ahead to begin a complete redevelopment after receiving DA approval.
The upgrade will aims to enhance retail and community opportunities.
The centre has appointed Mainbrace Constructions for the redevelopment.
Mainbrace Queensland’s State Manager Duncan McAndrew says the focus of the redevelopment will be centred around engaging local trades and suppliers to deliver the project.
“Strathpine Centre is a vital piece of the retail infrastructure in the area and we’re expected to see approximately 50 new jobs for the community”.
The development is due to be completed by late 2020 with work commencing in the new year.
Strathpine Centre Manager Chris Gibbons says the upgrade will improve the shopping and dining experience for customers.
“The addition of six new retailers to the centre will greatly improve customer convenience and experience, better servicing the everyday needs of locals,” Chris said.
“This redevelopment will secure the long-term future of the centre and allow us to better service the community. It will improve the centre’s street presence and offer a combination of leisure, dining and shopping options to cater for the entire family,” Chris said.
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Strathpine Centre redevelopment received DA approval

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A heritage investment neighbouring St Vincent’s hospital has successfully transacted for $5,100,000 to a local developer in Melbourne’s city fringe. 
The property located at 11 Brunswick Street, Fitzroy, borders St Vincent’s Hospital – which is set to undergo a $60 million redevelopment – and was transacted by CBRE’s Healthcare &amp; Social Infrastructure and City Sales &amp; Development Sites teams. 
Being offered with vacant possession, the site is currently occupied by Alcaston Gallery – one of Melbourne’s leading contemporary art galleries. 
CBRE’s Josh Twelftree, David Minty, Jimmy Tat, Sandro Peluso and Dylan Kylner steered thecampaign, which garnered interest and multiple offers from both developers and healthcare owner-occupiers. 
“11 Brunswick Street attracted significant interest from a range of buyer profiles, however, most notable were owner-occupiers in the healthcare sector and residential developers,” said Mr Twelftree. 
“Given the 11-level redevelopment of St Vincent’s, the property offers strong incentive for ancillary usages.” 
Mr Minty added that the property was one of the most attractive in the CBD, featuring a standout heritage façade. 
“Given the flexibility of the seven-level Development Approval behind the façade, the opportunity resonated with a variety of end users,” Mr Minty said.   
Established in 1989, the Gallery features a national and international exhibition schedule and represents contemporary artists from Australia and the Asia Pacific Region.
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Fitzroy's Alcaston Gallery sold for $5.1 million

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An industrial property in Brisbane, put on the market for the first time in 30 years, has been snapped up before it had a chance to go to auction. 
The multi-tenanted investment at 7 Shettleston Street in Rocklea, 10 kilometres from the CBD, was sold two days prior to a scheduled auction for $3.325 million.
The deal was negotiated by joint agents Lachlan Hateley and David Knox of Knight Frank and Paul Flego of Raine and Horne Commercial Brisbane Southside. 
The 4,248 square metre property, which has a net lettable area of 2,576 square metres, is fully tenanted.
The anchor tenant is GPC Asia Pacific (owners of Repco), backed by a Fortune 500 company, Genuine Parts Company (NYSE:GPC). Other tenants include Gleemans Truck Parts and Superior Wheels. 
The sale reflected a yield of 7.95%. 
Mr Hateley said the vendor had held the property since 1988 due to the strength of the investment, and prior to the property hitting the market, buyer demand was expected to be strong. 
“Going into the campaign we expected significant interest, and this came to fruition, with 35 enquiries received and 15 parties inspecting the property before the deal was done,” he added. 
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Industrial property in Brisbane Rocklea snapped up pre-auction

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My Muscle Chef will move into a new headquarters at Quarry Industrial Estate in Greystanes in Sydney’s central west.
The meal-delivery service has signed a long-term lease with Dexus for the 1,709 square metre site at 4 Bellevue Circuit, Greystanes.
CBRE’s Matthew Alessi, John Micallef, Janet Joljian and Moshe Greengarten assisted in introducing My Muscle Chef.
“The strategic location and building’s premium features provided strong corporate appeal in attracting My Muscle Chef to the estate,” Mr Alessi said.
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My Muscle Chef moves to new Greystanes headquarters

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A freehold warehouse with office space in Brisbane has been snapped up by an investor after successful post-auction negotiations for $4,000,000.
Situated at 78 Pritchard Road in Brisbane’s Virginia, the property, that came with a 3,000 square metre building area on a 6,222 square metre allotment, was zoned as ‘General Industry’. 
The asset was marketed and sold by Ray White Commercial Northern Corridor Group Principal Chris Massie and Ray White Commercial Bayside Director Nathan Moore. 
Mr Massie said six registered bidders battled it out on auction day with the price climbing all the way from $2,6000,000 to $3,950,000. 
“Some prospective purchasers were owner occupiers but the majority were investors and the campaign generated enough interest that agents and surrounding property owners attended on auction day,” Mr Massie added. 
This warehouse features a power supply, multiple office fit-out across two levels, large climate-controlled data room, large boardroom, two executive offices and 34 car parking spaces.
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Virginia warehouse site sold post-auction for $4 million

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The home of the Fratelle hair salon, has sold for $2.4 million under the hammer.
It transacted at a tight 5.2% yield on behalf of a local family who owned the asset for almost 30 years.
Chris Kombi and Chris James, of Fitzroys real estate, sold the property.
Kombi said the fierce competition between five investors at auction pushed the sale price well beyond reserve, while the building rate of $11,428 per square metre was remarkably high for a strata-titled retail property in the area.
A local investor purchased the property for their self-manager super fund.
The 210 square metre fully self-contained premises is securely leased to Rokk Ebony Properties Pty Ltd on a 10+5+5-year deal with a return of $125,200 per annum.
The triple-fronted property is positioned at the front of Wheelers Hill Shopping Centre, with 38 metres of corner frontage to the car park and Jells Road, plus an additional 9-metre frontage inside the shopping centre.
The hair salon trading as Fratelle has operated within Wheelers Hill Shopping Centre for over 26 years.
Wheelers Hill Shopping Centre comprises 40 retail operators and is anchored by Woolworths Supermarket, with other tenants including Bakers Delight, National Pharmacy, BWS, Bottle-O, Nando’s, Domino’s, Tatts and Australia Post.
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Wheelers Hill hair salon sold at weekend auction

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A new Shell service station in Noosaville has been offered for sale. 
The service station, at 140-142 Eumundi Noosa Road, is passed by more than 17,000 vehicles each day and in excess of six million annually. 
The 2,428 square metre site includes a 40m frontage to one of the region’s busiest roads, the main thoroughfare linking Noosa Heads with the Bruce Highway at Eumundi. 
Viva Energy, the Australian distributor of Shell fuel and lubricants, has a 15-year lease on the property, which generates annual net income of $426,921. 
Shell is accompanied by a NightOwl convenience store and the family-owned Rick’s Artisan Pies and Sourdough at the site, which opened in 2017. 
The CBRE Queensland Retail Investments team of Darren Collins, Michael Hedger and Joe Tynan together with CBRE Sunshine Coast Managing Director Rem Rafter have been appointed to manage the sale campaign. 
Expressions of interest are sought before December 5.
The property is near the Noosa Civic shopping centre, which recently sold for $250 million, the Noosaville Auto Park and a host of major retailers, led by Bunnings. 
It features seven covered fuelling bays and a total of 15 customer car parks. 
“The site is exceptionally well located,” Mr Collins said. 
“It is only five kilometres from Hastings Street in Noosa Heads and 25 kilometres from Sunshine Coast Airport, the country’s fastest-growing airport.
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