Apartment buyers in New South Wales are set to gain a decade of insurance-backed protection against major building defects, after the NSW Parliament passed the Fair Trading and Building Legislation Amendment Bill 2026.&nbsp;

The Bill establishes decennial defect insurance, known in the market as Latent Defects Insurance (LDI), as an alternative to the existing two-year strata building bond. It cleared the Legislative Council with amendments on Tuesday evening (August 4, 2026), with the Legislative Assembly agreeing to those amendments shortly after.

Under the reform, eligible developers can satisfy their statutory bond obligation by taking out an approved decennial-style policy that gives owners 10 years of cover for major structural defects from completion, claimable directly, without first having to pursue developers or builders through costly legal action.&nbsp;

The change forms the final tranche of amendments arising from the 2021 statutory review of the Strata Schemes Management Act 2015 and related legislation.

Resilience Insurance, which originated the cover in Australia and has delivered it in NSW since 2022, welcomed the passage and credited the NSW Government for delivering it.

“This is protection apartment buyers have needed for a long time, and the credit for delivering it belongs to the NSW Government,”&nbsp;said Corey Nugent, CEO of Resilience Insurance.

“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into. Reform like this is what good, evidence-based regulation looks like.”

Resilience has delivered LDI in NSW since 2022, protecting thousands of apartments, giving the State, and now the country, real-world evidence of how decade-long, no-fault protection works in practice.

The reform also places NSW within a wider national shift.

NSW is the third jurisdiction to put decennial cover into law. The ACT legislated for it in 2024, with the scheme taking effect in late 2025, and Victoria passed its own framework on 17 June. Between them, the three cover the majority of Australia's apartment market.

The reform commences once the legislation is proclaimed, which is expected in the coming weeks. From that point, developers of Class 2 residential apartment buildings can meet their statutory obligation with an approved decennial policy in place of the bond.

Buyers who purchased into projects that took out the cover early are among the first in the country to take keys to apartments carrying decade-long structural protection.

“With the legislation passed, the focus now turns to making it work for buyers,”&nbsp;Nugent said.

“There are already thousands of apartments in NSW covered by this insurance, bought by developers who moved early. The question every buyer should be asking in a display suite is a simple one: does this building come with 10-year defect cover, and who stands behind it?&nbsp;

“We look forward to working with the Government and the Building Commission in coming weeks as the framework moves to implementation, and to sharing what we have learned over the past four years so the protection reaches owners as smoothly and quickly as possible.”

Other states are working through their own reform programs. Western Australia has indicated that decennial cover is within consideration a later stage of its reform sequence, and Queensland has been examining the settings as it looks at the development pipeline ahead of the 2032 Olympics.

Resilience Insurance acknowledges the NSW Government’s continued focus on strengthening consumer protection while supporting housing delivery across the State.

Fast Facts: What the reform means

<ul style="color:#222222; font-family:Arial, Helvetica, sans-serif; font-size:small; font-style:normal; font-variant-ligatures:normal; font-weight:400; text-align:start; white-space:normal; background-color:#ffffff; text-decoration-thickness:initial; text-decoration-style:initial; text-decoration-color:initial">
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Proven at scale:&nbsp;Decennial cover has operated in NSW since 2022, protecting thousand of apartments.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">10 years of cover:&nbsp;Protection for major structural defects runs for a decade from completion, claimable directly and with no legal action required.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">An alternative to the bond:&nbsp;Eligible developers can meet their statutory obligation with an approved decennial-style policy in place of the 2% strata building bond.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Part of a national shift:&nbsp;The ACT has had decennial provisions in force since 2025 and Victoria passed its framework in June. NSW now joins them.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">No-fault, first resort:&nbsp;Owners corporations claim directly from the insurer without first having to establish who is liable for the defect.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Cost-competitive:&nbsp;At approximately 1.8% of build cost, LDI is typically priced below the 2% bond while offering broader, longer protection.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Market position:&nbsp;Resilience originated LDI in Australia and has delivered it in NSW since 2022.</li>
</ul>

Fast Facts: What is Resilience LDI?

<ul style="color:#222222; font-family:Arial, Helvetica, sans-serif; font-size:small; font-style:normal; font-variant-ligatures:normal; font-weight:400; text-align:start; white-space:normal; background-color:#ffffff; text-decoration-thickness:initial; text-decoration-style:initial; text-decoration-color:initial">
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Resilience Latent Defects Insurance (LDI):&nbsp;Covers major structural defects for 10 years from completion.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Consumer-first:&nbsp;Direct claim access, no need for lengthy legal action.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Cost advantage:&nbsp;At approximately 1.8% of build cost, LDI is typically priced below the traditional 2% Strata Bond while offering broader protection.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Market leader:&nbsp;&nbsp;Resilience Insurance originated LDI in Australia and is the national market leader.</li>
</ul>

Joel Robinson

NSW parliament passes 10-year defect insurance laws for new apartment buyers

Builder-developer <a href="https://www.apartments.com.au/developers/mcnab-developments">McNab</a> has wasted little time reshaping one of South Brisbane's most significant undeveloped apartment sites after acquiring the property earlier this year.&nbsp;

McNab has lodged plans to scrap an existing approval for two 30-storey towers and instead deliver a single 28-storey residential building, preserving part of the site for a future development opportunity.

The proposal, lodged over <a href="https://www.apartments.com.au/new-apartments/64-peel-street-south-brisbane-qld-4101">64 Peel Street and 9 Cordelia Street</a>, is for a residential-led mixed-use development comprising 124 apartments above a landscaped podium, alongside a boundary realignment that preserves part of the land for a future residential project.

<img alt="First look: McNab resets decade-old South Brisbane approval with 124-apartment tower" data-entity-type="file" data-entity-uuid="743bf564-3f8f-45fc-b8d3-bbf18f5b628f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/mcnab%20Peel%20st%20podium.png?VersionId=EhCxGrVn_VFH3qTbKnI4WppGwaMnOn0t" />

Designed by <a href="https://www.apartments.com.au/architects/hayball">Hayball</a>, the development will deliver 119 two-bedroom and five three-bedroom apartments across 23 residential levels. A five-level podium will accommodate 135 car spaces, while the ground floor will include a 66 sqm commercial tenancy, an activated residential lobby with work-from-home spaces, and a publicly accessible landscaped plaza linking Cordelia and Peel streets.&nbsp;

Communal amenities will span Level 6 and the rooftop, including indoor and outdoor recreation spaces, a swimming pool, barbecue facilities, kitchen and dining areas, lawn space, sauna, steam room and yoga facilities.

The application also proposes a boundary realignment to create a standalone 1,290 sqm development lot while retaining an adjacent parcel for future redevelopment, allowing the balance of the site to contribute additional housing over time.

Hayball said the architecture has been shaped by the site's elevated corner position at the intersection of Peel and Cordelia streets and Brisbane's subtropical climate.

The design incorporates generous landscaped setbacks, a masonry podium wrapped with planting, large north-facing balconies, and a slender tower profile intended to maximise natural light, cross ventilation and long-range views. The rooftop has been conceived as a wellness-focused retreat overlooking Brisbane, with amenities positioned to capture views towards Mount Coot-tha and the CBD.

<img alt="First look: McNab resets decade-old South Brisbane approval with 124-apartment tower" data-entity-type="file" data-entity-uuid="c5f99e84-6ad8-4a87-82d1-869685b754d2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/mcnab%20tower%20perspective.png?VersionId=Gw0IuJaSAlk.tvGBxInhZOcQAdIB..2b" />

The planning submission positions the proposal as a response to both changing market conditions and Brisbane's Kurilpa Sustainable Growth Precinct planning reforms.

McNab acquired the site after the previous approval was granted, with the existing scheme no longer reflecting current residential market demands, economic conditions, construction challenges, construction efficiencies or the quality of development outcome now being pursued, the planning report noted.

McNab continues to expand its residential development pipeline across Brisbane and the Gold Coast. The developer recently launched The Tannery in West End, securing more than 60 per cent of apartments before the project's public release. It is also delivering Elements Budds Beach in Surfers Paradise and Lucia Highgate Hill, an eight-apartment boutique development overlooking the Brisbane River.

McNab resets decade-old South Brisbane approval with 124-apartment tower

A steeply sloping Bellevue Hill site is set to accommodate a new mid-rise apartment development, with plans lodged for 20 homes that respond to the site's dramatic topography.

The proposal for the consolidated land at <a href="https://www.apartments.com.au/new-apartments/138a-140-bellevue-road-bellevue-hill-nsw-2023">138A-140 Bellevue Road</a> has been designed by Sydney architecture practice Common Office, which has used the site’s substantial fall to distribute the building’s scale and unlock 20 apartments without presenting the full height to the street.&nbsp;

“The unique design strategy leverages the site’s substantial topographical fall to facilitate increased density, presenting a seven-storey profile to Bellevue Road while rising to 10 storeys at the rear,” Common Office said in its architectural design report.

The apartment mix spans one, two, three- and four-bedroom residences. Four two-bedroom apartments are designated as affordable housing, while the plans also include two adaptable dwellings. The mix is majority three-beds, with the typical three-bed apartment offering around 144 sqm internally, with balconies of around 15 sqm.

The affordable housing component represents 15 per cent of the residential floor area and allows the project to access additional height and floor space under the NSW Government’s in-fill affordable housing provisions. The site also falls within the inner area of the Low and Mid-Rise Housing Policy because it is within 400 metres walking distance of Double Bay Town Centre.

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="b1230d0f-3bfa-4a11-abaf-0928c66ef345" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20da.png?VersionId=dZeMK3P.OutGjN8ycjsxm8uNsj_QFWQv" />

Common Office has arranged the building around a masonry podium and a lighter upper volume, drawing on two recurring elements of Bellevue Hill’s established architecture: sandstone bases and the vertical proportions of local Inter-war Art Deco apartment buildings.

“The proposal is governed by a holistic design language that reconciles the solid horizontal masonry of the neighbourhood’s podiums with the elegant verticality of its Art Deco heritage,” the architect said.

“The building maintains a consistent rhythmic logic utilising deep recesses and a sophisticated material transition to break down the 10-storey scale into a series of articulated, human-scale volumes.”

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="0147f503-1af1-4d51-97fb-c2f1cba63a9d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20bldg.png?VersionId=GoW7q3NlK67OpnePXhk7zvklrlKb72Qc" />

Large-format sandstone tiles will define the lower levels, establishing a robust base that negotiates the change in elevation from Bellevue Road. Above, red-tinted precast concrete frames, recessed balconies, anodised aluminium screens and expanded metal details will create a more vertically expressed façade. Integrated planter beds will introduce greenery across balcony edges and recessed sections of the building.

The elongated northern façade has been divided into three recessed vertical masses to reduce its perceived length. Triangular window elements and metal privacy screens reference the geometry of nearby Art Deco buildings while controlling overlooking toward surrounding homes. The southern elevation will incorporate further privacy screening, landscaped edges and deep balconies to maintain light and ventilation.

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="e8679cf1-18bc-4447-8a0f-0052b94ab83c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20da%20rooftop.png?VersionId=5SQqQqRFf76rvE2p1TbxJSweMN70AIbc" />

Private and communal landscaping is distributed throughout the development. A landscaped garden apartment is positioned within the lower portion of the site, while a communal terrace on Level 5 will include a central timber deck, barbecue facilities, resident planting plots and areas for outdoor dining and informal gatherings.

Common Office described the terrace as an elevated sanctuary designed to capture district views and sunlight. Its planting strategy incorporates endemic species associated with the Eastern Suburbs Banksia Scrub, extending the landscape vertically through the building and providing habitat for local flora and fauna.

A second communal outdoor area is proposed at roof level, with built-in seating, paved gathering areas and perimeter planting.

Bellevue Hill is enjoying renewed momentum in the new apartment market, with several boutique developments recently launched and currently under construction. Positive Investment Enterprise is delivering the 16-apartment Kew Palm House on Birriga Road, while Chanine Developments is also under construction at Florian, a 36-apartment project on Banksia Road.

&nbsp;

Bellevue Hill is enjoying renewed momentum in the new apartment market, with several boutique developments recently launched and currently under construction.

First Look: Apartment development pitched for Bellevue Hill, Double Bay fringe

South Brisbane's apartment pipeline continues to build momentum, with <a href="https://www.apartments.com.au/developers/trk-property-group">TRK Property Group</a> lodging plans for a 161-apartment tower on Montague Road as developers accelerate investment across the Kurilpa Sustainable Growth Precinct.

The proposal for 176–186 Montague Road would replace an existing office building with a 20-storey residential tower designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, adding to a growing pipeline of high-density projects reshaping one of Brisbane's fastest-evolving inner-city precincts.

The project has been conceived as a "living building", featuring a flowing tower form, extensive vertical landscaping, and generous communal spaces that respond to the evolving Kurilpa Sustainable Growth Precinct.

TRK Property Group Development Director Matt Kan said the project reflected the confidence developers have in South Brisbane's long-term future.

"South Brisbane is entering an incredibly exciting period, and we see Montague Road sitting right at the heart of that evolution," Kan said.

"With the former Visy site directly opposite us and significant investment planned throughout the broader Kurilpa precinct, there is a real sense of momentum around this part of the city and what it will become over the coming years.

"For TRK, this is an opportunity to be part of that next chapter and deliver a project that responds to where the precinct is heading, while contributing to the continued evolution of Brisbane's river edge."

<img alt="First look: TRK Property joins South Brisbane apartment surge with Montague Road tower plans" data-entity-type="file" data-entity-uuid="590fe1ad-f892-4446-a679-80e33a16d029" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/TRK%20tower%20facade.png?VersionId=uOJStrcKpyHFcPE1w6_9SMAFzVMCcZll" />

The scheme includes a mix of one, two, three and four-bedroom apartments, incorporating multi-purpose rooms in selected residences to provide additional flexibility for home offices or expanded living areas. The proposed mix comprises 15 one-bedroom, 13 one-bedroom plus MPR, 73 two-bedroom, 26 two-bedroom plus MPR, 30 three-bedroom, and four four-bedroom apartments.

Rather than adopting a conventional rectilinear tower, COX Architecture has developed a sculpted form inspired by the movement of the Brisbane River.

"The proposal has been designed by COX Architecture as a 'living building' that responds to the site's riverine setting, floodplain history and evolving urban context within the Kurilpa Sustainable Growth Precinct," the planning report states.

"The architectural form draws from the fluid nature of the Brisbane River, with a curved and undulating tower form that creates a varied architectural edge and avoids a conventional rectilinear tower expression."

The podium has also been designed as an architectural feature rather than a conventional parking structure, with cascading planting, screening and natural-toned materials softening its appearance. Resident parking is elevated above ground level to address the site's flood constraints, while habitable apartments sit above flood planning levels. Upper-level communal facilities are designed to accommodate shelter-in-place arrangements during major flood events.

<img alt="First look: TRK Property joins South Brisbane apartment surge with Montague Road tower plans" data-entity-type="file" data-entity-uuid="01fa15d0-90df-46c7-9555-7941fc45373c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/TRK%20podium.png?VersionId=mHyua.w1pHGBt9qEdWzrlsv.leztUCwO" />

Communal amenity is a major focus of the proposal. Around 1,815 sqm of shared resident space is proposed across the ground floor, level 19 and the rooftop, including co-working areas, indoor and outdoor recreation spaces, wellness facilities, dining and gathering areas, lawn spaces, a rooftop pool and spa, and extensive landscaping. At street level, a landscaped forecourt and approximately 345 sqm of publicly accessible open space along Montague Road are intended to improve the pedestrian experience while activating the building's frontage.

The development will provide 163 car spaces, including 152 resident bays and 11 visitor spaces, together with 144 bicycle spaces incorporating resident storage, visitor parking, bicycle maintenance facilities and e-mobility charging infrastructure.

The site sits within one of Brisbane's fastest-changing inner-city precincts, less than two kilometres from the CBD and within easy reach of South Bank, West End, the Queensland Cultural Centre and extensive public transport connections. The Kurilpa Sustainable Growth Precinct planning framework is encouraging higher-density residential development to help meet Brisbane's housing supply targets while supporting walkable, transit-oriented neighbourhoods.

TRK Property joins South Brisbane apartment surge with Montague Road tower plans

Article summary

<ul data-end="785" data-start="311">
	<li data-end="459" data-section-id="5hbcyr" data-start="311">Pikos Group has released the five-penthouse collection at Skye Kangaroo Point, headlined by a two-storey sky home spanning more than 1,000 sqm.</li>
	<li data-end="561" data-section-id="1p7lq8n" data-start="460">Early buyer interest suggests the residences could set a new Queensland apartment price record.</li>
	<li data-end="667" data-section-id="1y70z0l" data-start="562">The collection includes four move-in ready penthouses and the highly customised Skye One residence.</li>
	<li data-end="785" data-section-id="yvm0y1" data-start="668">The release caps one of Bri​sbane's most ambitious luxury apartment developments overlooking the Brisbane River.</li>
</ul>

<hr data-end="790" data-start="787" />
Pikos Group has released the five-penthouse collection at its <a href="https://www.apartments.com.au/buildings/skye-residences-by-pikos-kangaroo-point-8-river-terrace-kangaroo-point-qld-4169">Skye by Pikos</a> development in Kangaroo Point, with early buyer interest indicating the flagship residences could eclipse every apartment sale previously recorded in Queensland.

The collection crowns the luxury riverfront development with five residences, including four completed penthouses and Skye One, a two-level sky home spanning more than 1,000 sqm that will be tailored to its eventual owner.

[smartcode_project:default project_id=90059 project_image_fid=374075]

Wanting to offer a fully customisable home, Pikos is offering Skye One as a blank canvas, allowing the buyer to work alongside the developer's design team to customise the home's layout, finishes and internal spaces.

The residence will feature a 247 sqm private rooftop terrace with its own swimming pool, sauna, steam room, outdoor kitchen and multiple entertaining areas overlooking the Brisbane River and CBD skyline.

The remaining four penthouses have been completed and are ready for immediate occupation, each offering four bedrooms, expansive open-plan living areas, soaring ceilings and private lift access.

[smartcode_project:default project_id=90059 project_image_fid=374059]

One of the defining features throughout the project is its use of Roman Classic Travertine, with more than 20,000 sqm of the natural stone imported from Italy after being personally selected by Pikos Group Founder and Executive Director Pedro Pikos, interior designer Julie Williamson and third-generation stone specialist Mario Caucci.

Pikos said the penthouse collection represented the culmination of the company's long-term vision for Skye.

"True legacy isn't measured by what we build today, but by what endures tomorrow," Pikos said.

"Our ambition is to create places that become more valuable with time, enrich the lives of generations, and stand as timeless landmarks long after we've stepped away."

[smartcode_project:default project_id=90059 project_image_fid=374060]

Williamson said the interiors were inspired by the natural character of Kangaroo Point and the Brisbane River rather than international design trends.

"Materiality tells the story of a place," Williamson said.

"We looked to the movement of the Brisbane River, the texture of the cliff face and the warmth of the surrounding landscape to create interiors that feel understated, enduring and unmistakably Brisbane."

Positioned above the Kangaroo Point cliffs, Skye places residents within walking distance of Howard Smith Wharves, South Bank and James Street while offering uninterrupted river and city views.

[smartcode_project_cta:default project_id=90059]

Brisbane's next apartment price record? Pikos unveils Skye's exclusive penthouse collection

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>
EXPERT OBSERVER
Some economists are concerned about the “wealth effect” of falling property prices. They need not be concerned about that. 
What should concern them is their disturbing lack of knowledge about residential real estate markets. They have misunderstood what’s happening with prices in the many different markets around Australia.
Bill Evans, high-profile economist from Westpac, is one of those who think “falling property prices” will affect consumer spending. He thinks the Reserve Bank will be forced to cut the official interest rate a couple of times this year because of this hypothetical impact of falling property prices.
Mainstream media, as if so often sadly the case, have given great credibility to these forecasts. Journalists have forgotten that Westpac, until last week, was predicting that the cash rate would not change this year and that the next move would be a rise. Now they’ve back-flipped. What does that say about their forecasting?
But the big issue is the lack of understanding about real estate markets. Like most economists, Evans and his cohorts turn their attention to residential property only occasionally, and, when they do, they generalise. They talk about “the Australian property market” and what’s happening with “Australian property prices”. This is a clue that they lack depth of knowledge.
This kind of generalisation is the curse of real estate consumers across the nation. It’s the source of much of the misinformation that permeates mainstream media and which confounds consumers.
Here’s the difference between those Westpac economists and the Hotspotting team: we spend all day, every day, researching residential markets. They do not.
And here’s what I know to be true: locations where property prices have fallen a lot are in the minority. Most markets around the nation have prices that are rising or are holding firm. 
In Hotspotting’s latest location-by-location analysis of sales activity and prices for every suburb and town across the nation, we have identified a number of “danger” markets – those where demand is falling, prices are down and vacancies are rising.
But these danger locations are greatly outnumbered by those where markets are rising. Our national survey finds only 8.5% of locations are negative – what we classify as “declining” or “danger” markets. By comparison, 20.5% of locations are strongly rising. The vast majority – the big lump in the middle – comprises markets where demand is steady and prices solid.
Here's what economists do: they look at a graph or table which describes “Australian property prices”. This is a figure from someone like CoreLogic which provides an average figure for the change in prices for the capital cities. Currently that’s a minus figure because of the weight of Sydney. So they declare that Australian property prices are falling and that this is a national problem.
Apparently, Australians will be so distressed by this that they’ll stop spending in supermarkets and retail stores. It’s a ludicrous proposition.
In Melbourne, only the top end of the market is sharply down. Undoubtedly, the Tooraks of this world have seen prices falling significantly. But Middle Melbourne is remaining very solid price-wise and the cheaper outer-ring suburbs still have rising prices. Most of the suburbs of humble Melton are up by more than 20%.
That’s why most research sources (not including CoreLogic) have Melbourne prices overall down only moderately or, in one case, slightly up.
Meanwhile, Regional Victoria is going ballistic. Geelong, Ballarat, Bendigo, Pakenham, Officer, Warragul and dozens of other regional cities and towns have rising demand and very strong prices.
Hobart prices are still rising and Regional Tasmania is as buoyant as Regional Victoria. Both those regional markets are being supercharged by demand out of Melbourne.
Canberra is rock solid. As I wrote last week, it’s the strongest real estate economy in the nation and it’s doing the opposite to struggling Sydney.
Likewise, Regional NSW. There are growth markets spread right throughout the state. Newcastle and neighbouring LGAs like Lake Macquarie, Port Stephens and the Hunter Region municipalities have formed the strongest market in NSW in the past 12months.
Other important regional centres are rising, including Orange, Tamworth, Byron Bay, Dubbo and many of the smaller towns. Overall it’s a story of growth, in defiance of the Sydney trend.
Those past their best but still solid include Wollongong, Coffs Harbour, Port Macquarie and the towns of the Southern Highlands.
Brisbane overall is not rising strongly with prices, but it’s not falling either – and individual pockets are out-performing. It’s not hard to find suburbs where median prices have risen in double digits in the past year.
The Sunshine Coast is Queensland’s strongest market, with top-end suburbs around Noosa particularly buoyant.
Central Queensland locations are recovering from the previous malaise induced by the mining sector, led by the strategic city of Mackay. Others rising from the previous downturn include Emerald, Rockhampton, Dalby, Chinchilla, Moranbah – and we’re now seeing the first evidence of recovery in Gladstone.
Key regional cities like Toowoomba and Cairns have steady markets. Only time will reveal the real estate impacts from Townsville’s floods.
Adelaide is one of the really solid markets in capital city Australia. Demand is steadily rising and, like Brisbane, the city has individual pockets that are out-performing. There’s no sign of falling values here.
Perth has been in downturn for the past four years, but no longer. All the figures show recovery is under way – vacancies down, rents starting to rise, sales activity trending up and the top-end suburbs showing good price growth.
The only markets of significance where major price decline is prevalent are Sydney and Darwin.
Darwin just can’t escape its malaise because the underlying economy is so weak. The Northern Territory is the only state or territory which failed to deliver population growth last year.
Sydney’s situation is heavily documented but very poorly reported. There are plenty of declining markets and more than a few danger ones. But there are still many markets where demand is solid and prices are resilient.
One situation that media has completely overlooked is the defiant performance of the apartment market. Sydney’s gradual decline, which started back in 2016 long before the royal commission and other distractions that economists think important, was precipitated by the market’s reaction of price levels. Affordability became an issue at all levels of the market. 
So now we have a situation where the cheaper products like apartments are still attracting demand and achieving good prices. Throughout inner and middle ring Sydney, there are many dozens of suburbs where the median house price is sharply down but the median apartment price is strongly up.
So where are all these Australians who are so afflicted by falling property prices that they’re going to hide their money under their beds and not spent. Outside of Sydney (but not all of Sydney) and Darwin, they really don’t exist.
And this is reflected in multiple surveys. The latest Westpac poll shows consumer confidence is up and is specifically not affected by all the negative media about house prices. The ME survey indicated most Australians expect house prices to stay solid or to rise this year and the Momentum Wealth survey found investors are planning to buy, with Perth and Brisbane their No.1 targets.
I think these thoughts from veteran real estate analyst Michael Matusik are also relevant: “It is somewhat sobering to find that the majority aren’t that caught up in all the incessant real estate chat. To most a house is their home and not something that needs a lot of day-to-day analysis or comment. The majority just roll their eyes at the daily house price indices. I am in that crowd.”
I, too, am in that crowd. The media and economists like Bill Evans misinterpret and over-estimate the impact of recent price decline on a relatively small number of Australians.
For most of us, a falling property market is simply not part of our day.
 
Terry Ryder is the founder of hotspotting.com.au
<a href="https://mailto:ryder@hotspotting.com.au">ryder@hotspotting.com.au</a>
twitter.com/hotspotting
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terryryder-YECXbqmri2

Westpac economist Bill Evans has the property market decline wrong: Hotspotting's Terry Ryder

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Hayman Island by InterContinental has opened reservations ahead of the Whitsundays resorts reopening later this year.
The resort was badly damaged in the midst of Tropical Cyclone Debbie in March 2017, but is set to welcome new guests from 1 July.
The 166-room resort on a 400-hectare private island has undergone a multi-million-dollar refurbishment, including new restaurants, bars and a new spa.
Mark Eletr, Resort Manager at Hayman Island by InterContinental, said the resort offers a unique experience.
“Opening our unique paradise in the Whitsundays to the world under InterContinental’s trusted brand is a true privilege,” Eletr said.  
“Hayman Island continues to capture the hearts of domestic and international travellers and we are thrilled to announce that on 1 July our doors will open and a new chapter of immersive luxury awaits.”
The resort also offers corporate meetings and events options, as well as wedding ceremony and reception locations.
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j.ballantyne1990-6AQqhLzZaK

Reservations open at Hayman Island ahead of resort's return

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Burwood Brickworks, on track to open in late 2019, has announced that it will host a six-screen cinema complex.
Reading International has agreed to terms to anchor the new entertainment hub at the mixed-use community, which is 19 kilometres east of Melbourne CBD.
The announcement comes after Whitehorse City Council endorsed an amendment to the development plan, paving the way for the new community to include a cinema.
Designed by Melbourne-based NH Architecture, the 12,900 square metre Burwood Brickworks shopping centre will be the heart of the mixed-use community.
The complex will be positioned on the ground level of Burwood Brickworks shopping centre, on the corner of Middleborough and Boulevard Roads, adjacent to the 4,200 square metre Woolworths supermarket.
Frasers Property is aiming for the shopping centre at Burwood Brickworks to be the first retail development in the world to achieve Living Building Challenge certification, meaning it will generate more energy than it consumes on an annual basis.
North Melbourne-based Russell &amp; George has been appointed to ensure the base building interior design and fitout comply with the sustainability standards. 
A mix of on-site rooftop solar PV and off-site renewable energy, utilising battery storage, will generate 105% of the energy required for the building.
For their electricity needs, tenants may choose to participate in the embedded energy network Frasers Property is integrating, which will offer use of the renewable electricity generated on-site.
Also proposed as part of the centre’s tenant mix is a child care centre and medical centre, as well as health and fitness opportunities.
Peri Macdonald, from Frasers Property Australia says Reading Cinemas will attract visitors.
“We’re creating a destination at Burwood Brickworks, a place drawing people from the immediate catchment and beyond who want to enjoy a memorable entertainment, shopping and dining experience in the most comfortable environment imaginable,” Macdonald says.
“A cinema offering was always a key feature of the super-neighbourhood centre we envisaged at Burwood Brickworks.”
The new complex will be the company’s first cinema in Australia to feature reclining seats in all auditoriums.
Mark Douglas, Reading Cinemas Australia’s managing director, said he looks forward to opening in late 2019.
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Reading Cinemas coming soon to Burwood Brickworks community 

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A corner development site in Melbourne's Ivanhoe has hit the market with price expectations of $6 million plus.
The <a href="https://www.realcommercial.com.au/property-land+development-vic-ivanhoe-503103906" target="_blank">corner block</a> at 20 Lower Heidelberg Road and 95 Waterdale Road offers a chance to create a residential project in a tightly held area.
Savills Australia’s Jesse Radisich, Julian Heatherich and Benson Zhou have been appointed to sell the landholding.
They said they are expecting local and offshore interest. 
Savills sold the adjoining site 24-26 Lower Heidelberg Road for $14.5 million in late 2017.
Radisich said it was an indication of the high demand in the area. 
“We expect strong interest from a wide range of developers,” Radisich said. 
“Ivanhoe is a truly premium and tightly held suburb, with major development opportunities extremely hard to come by, particularly positioned in such close proximity to the elite Ivanhoe Grammar School.”
The site features a combined 142 metre street frontage, including rear laneway access.  
Heatherich suggested the landholding presents developers with the opportunity to deliver a project of significant scale.
"They will have the benefit of favourable planning parameters and a consistently high level of residential demand,” Heatherich added.
The site is within close proximity of shopping centres, elite schools and public transport options. 
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jonathanchancellor-7SQnKwU6yx

Ivanhoe site with development potential listed at $6 million plus

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GUEST OBSERVATION
Total employment lifted a very solid 39.1k in January well clear of the market median of 15k and a market forecast high of 27k. The year has started with a solid trend pace of employment growth with a three month average gain of 31.9k. In the year to December total employment grew 268.5k, or 2.2%yr, with a solid momentum into year end with a six month annualised pace of 2.2%yr. While it is just one month into the year, employment grew 271k in the year to January (2.2%yr) with a very solid 2.9%yr six month annualised pace.
There is, however, an important caveat for the January Labour Force Survey – January is the peak holiday month in Australia as Christmas, New Year and school summer vacation all come together. As such it is the month where little happens in Australia and economic activity stalls. In original terms total employment fell –234.5k in January (an average of –263.9k in the previous three years) so we are always cautious about reading too much into a January print.
The mix of employment gains also painted a very solid picture with a +65.4k gain in full-time employment only partially offset by a –26.3k loss in part-time employment. In the month total hours worked rose 0.4% (total employment rose 0.3%) as hours worked per person gained 0.1%. In the year to January total hours worked has lifted 3.2%yr which is a robust pace compared to the 2.2%yr pace for employment.
Despite the strong gain in employment, the unemployment rate was flat at 5.0% (market median was for 5.0%) as a 0.1ppt lift in the participation rate to 65.7% (65.72% at two decimal places) boosted the gain in the labour force to 45.7k.
 <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/2019/2/21/unemployment%201%20.jpg" alt="">
Source: Westpac
As 2019 starts, NSW picks up the mantle as the state with the strongest labour market. In the month, employment lifted 47.2k (161.6k in the year), unemployment fell to 3.9% (a new record low) and confirming this is a strong print (rather than a soft unemployment rate due to declining participation) NSW employment to population ratio has also hit a new record high of 62.6%.
 <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/2019/2/21/state%20employment%20.jpg" alt="">
Source: Westpac
In January Victoria continued to make gains (2.2k/114.2k in the year) but it was a different story in the other states. Queensland employment pulled back (–19.9k/5.6k in the year) while employment was flat in WA (0.8k/0.9k in the year) and fell in SA (–4.5k/1.6k in the year).
Victorian unemployment did lift in the month (4.5% from 4.2%) allowing NSW to clearly reclaim the mantle of having the lowest unemployment rate.
<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/2019/2/21/unemployment%202.jpg" alt="">
Source: Westpac 
Victoria was the state showing the greatest improvement through 2018 with the unemployment rate down almost 2ppts to 4.2% in December while in NSW unemployment fell just –0.5ppts to 4.3%. The Qld labour market appears to have stalled with the unemployment rate lifting 0.1ppt to 6.1% while it has been flat in SA at 5.9% and lifted in WA from 5.8% to 6.4%.
<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/2019/2/21/unemployment%203.jpg" alt="">
Source: Westpac 
We are closely watching how these trends continue through 2019 – NSW has surprised us by dipping below 4% while Victoria’s improvement looks to have stalled. Will this shift through the first half of 2019? How will these labour markets respond to falling house prices, a contraction in construction activity and weak retail sales. Our expectation is for the unemployment rate to rise in NSW and Victoria. 
It is also worth noting that 2018 produced a –0.2ppt decline in the underemployment rate from Q1 to Q4. In January there was a further improvement in underemployment to 8.2% (from 8.3%) the lowest print in underemployment since March 2015. Again we would caution that this is a January print so would not project that this improvement can be sustained but nevertheless, it is another indicator of just how robust the labour market was at the end of 2018.
For 2019 we are looking for a pause in the pace in employment growth due to the economic uncertainties surrounding the Federal Election at the same time as we expect to see a moderation in momentum in NSW and Victoria on the back of a moderation in housing activity. With reasonable estimates for the participation rate, our weaker jobs growth profile has the unemployment rate lifting to 5.5% in the second half of 2019 and further by end 2020.
Justin Smirk is ‎senior economist, Westpac Group and can be contacted <a href="https://www.westpac.com.au/about-westpac/westpac-group/" target="_blank">here</a>.
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Solid momentum behind Australian employment: Westpac's Justin Smirk

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EXPERT OBSERVER<a href="http://petewargent.blogspot.com/2019/02/vic-closes-in-on-full-employment" style="font-family: Helvetica, Arial, sans-serif; font-size: 13px;"> </a>
<div id="post-body-310214148269562303" class="post-body entry-content">
<div>Wages tick along</div>
<div> </div>
<div>More wages weakness reported in the December 2018 quarter, though I doubt it'll be enough to move the needle for the Reserve Bank's view too much. </div>
<div> </div>
<div>Wages growth was +0.6 per cent for the private sector, and +0.6 per cent for the public sector, seasonally adjusted, decimal point quibbles aside. </div>
<div> </div>
<div>Annual growth in private sector wages of +2.29 per cent was still plenty slower than in the public sector at +2.53 per cent.</div>
<div> </div>
<div>However, this was the 'fastest' annual pace of growth in private sector - if you can justifiably use the word fast in this context - in the four years since December 2014.</div>
<div> </div>
<div>And it's also well ahead of headline inflation, which could feasibly sink to just 1½ per cent next quarter on lower fuel prices. </div>
 <div class="separator"><a href="https://1.bp.blogspot.com/-nBZjMNpaef8/XG0O7o2sr4I/AAAAAAAAulA/VZ8K7fIX80EqIqcd4CJw4MWLe2mV9yFEwCLcBGAs/s1600/A1.jpg" target="_blank"><img src="https://1.bp.blogspot.com/-nBZjMNpaef8/XG0O7o2sr4I/AAAAAAAAulA/VZ8K7fIX80EqIqcd4CJw4MWLe2mV9yFEwCLcBGAs/s640/A1.jpg" width="640" height="352" data-original-height="791" data-original-width="1436"></a></div>
 <div>As noted here previously (h/t Justin Smirk, Westpac) Victoria has been creating a thunderous volume of job openings and is nipping along nicely towards full employment, so wages will almost certainly pick up here. </div>
 <div class="separator"><a href="https://4.bp.blogspot.com/-MkBSZfoxosY/XG0O8haXWeI/AAAAAAAAulI/oH4WaHmCGAAdtoZwbf9GSyZRrOTO1xxdQCLcBGAs/s1600/A4.jpg" target="_blank"><img src="https://4.bp.blogspot.com/-MkBSZfoxosY/XG0O8haXWeI/AAAAAAAAulI/oH4WaHmCGAAdtoZwbf9GSyZRrOTO1xxdQCLcBGAs/s640/A4.jpg" width="640" height="380" data-original-height="801" data-original-width="1348"></a></div>
 <div>Indeed, at the state level for all sectors Victoria (+2.7 per cent) and New South Wales (+2.4 per cent) have accounted for most of the improvement since the nadir, while sprightly Tasmania (+2.6 per cent) is resurgent from a low base. </div>
 <div class="separator"><a href="https://4.bp.blogspot.com/-kOwyXgYwYH8/XG0O7pPxALI/AAAAAAAAulE/FB4OU2W9HY8VVAIUx81m-k742UxlNDErQCLcBGAs/s1600/A2.jpg" target="_blank"><img src="https://4.bp.blogspot.com/-kOwyXgYwYH8/XG0O7pPxALI/AAAAAAAAulE/FB4OU2W9HY8VVAIUx81m-k742UxlNDErQCLcBGAs/s640/A2.jpg" width="640" height="374" data-original-height="815" data-original-width="1393"></a></div>
 <div>Not much joy here in Western Australia, though we should acknowledge that WA has seen by some margin the greatest increase in wages over the past two decades, so a bit of post-boom payback was perhaps due. </div>
 <div class="separator"><a href="https://1.bp.blogspot.com/-OhfQGmdLmDE/XG0O7stD8dI/AAAAAAAAuk8/GXmnh0QeLxgHwBqZiLw-Lg_0WGNeBgGPgCLcBGAs/s1600/A3.jpg" target="_blank"><img src="https://1.bp.blogspot.com/-OhfQGmdLmDE/XG0O7stD8dI/AAAAAAAAuk8/GXmnh0QeLxgHwBqZiLw-Lg_0WGNeBgGPgCLcBGAs/s640/A3.jpg" width="640" height="382" data-original-height="820" data-original-width="1371"></a></div>
 <div>At the industry level the strongest wages growth was seen in healthcare and social assistance (+2.8 per cent), and electricity, gas, water, and waste (+2.8 per cent), while the weakest growth was in IT &amp; Telcos (+1.6 per cent). </div>
<div> </div>
<div>The wrap</div>
<div> </div>
<div>
Still pretty sluggish overall, but skilled job vacancies came in at a near 7-year high today, so there's still probably just enough evidence that the jobs market might pull through, provided credit flows a bit more freely in 2019. 
</div>
<div> </div>
<div>
PETE WARGENT is the co-founder of AllenWargent property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank">blogger</a>. </div>
</div>
<div class="post-footer"> </div>
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pwargent-M4siyDbqQY

More wage weakness but VIC close in on full employment

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EXPERT OBSERVATION 
In the lead up to the NSW election, the NSW residential building industry is being strangled in red tape and taxes.
Some 43% of the cost of a new house and land package is made up of taxes, charges and levies from all three tiers of Government.
Despite this, policies implemented by the State government continue to add to the tax burden for the housing industry.
By way of example, in the past 18 months, the following regulations and taxes have been implemented or proposed, each one having a negative impact on housing affordability and supply.
<ul>
<li>Removing caps on section 94 development contributions adding $20,000 – $40,000 per dwelling; 
</li>
<li>Increasing the BASIX energy efficiency targets adding an average of $10,000 per new dwelling; 
</li>
<li>Delaying the start of the medium density housing code to deal with Sydney’s “missing middle” for terrace and low rise medium density housing projects reacting to unreasonable and simple incorrect claims that the code would promote high-density housing after promoting the savings of around $15,000 in approval costs for these type of dwellings from the implementation of the code; 
</li>
<li>Introducing a 2% defect bond and an additional double barrel inspection regime for strata developments that will be ineffectual and add to the cost of all new strata projects and 
</li>
<li>Proposing a Greater Macarthur state infrastructure contribution (SIC) of $40,000 per dwelling, along with new SIC levies in the Hunter.</li>
</ul>
These changes can easily account for an additional $70-$90,000 per dwelling and once applied, they may be subject to stamp duty.
There are many things our state politicians can consider to help housing supply and affordability that don’t require drastic structural change.
For instance, the NSW Productivity Commissioner should be directed to undertake a detailed review of the regulatory burden and costs to the residential sector with the aim of reducing red tape, increasing productivity and thus improving housing affordability.
All new legislation and regulation impacting the housing sector should be subject to a thorough public regulatory impact assessment.
Adding to the problem of housing affordability and rental affordability with new red tape and taxes is not the solution to ensuring people in NSW can afford to buy or rent a home. More needs to be done now, politicians need to get serious and focus on real changes that will make a real difference to the cost of new homes in NSW.
David Bare is HIA Executive Director NSW.
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Taxes in NSW strangling future housing: HIA'S David Bare

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The developers charged over the illegal demolition of the Corkman, a 160-year-old Melbourne pub have been fined $1.325 million plus costs, after pleading guilty to breaching building and planning laws.
The Corkman Irish Pub in Carlton was illegally demolished in October 2016.
The magistrate Ross Maxted said only a big penalty would deter others.
Last year they were also fined nearly $600,000 by the EPA for illegally dumping asbestos debris from the demolition on a construction site surrounded by homes at Cairnlea, in Melbourne's north-west.
Developer Raman Shaqiri and his company 160 Leicester Pty Ltd pleaded guilty in May last year after knocked down the Corkman without building or planning approval. 
The company's other director, Stefce Kutlesovski, pleaded guilty to charges in January this year. 
Magistrate Ross Maxted fined the company $850,000, while Shaqiri and Kutlesovski were fined $220,000 and $255,000 respectively. 
Magistrate Maxted described the pair's behaviour as "reprehensible." 
The Corkman Irish Pub last sold for $4.76 million, $1.56 million above its 2014 auction reserve.
Located at 154-160 Leicester Street in the inner city fringe suburb of Carlton, the historic two storey pub, formerly the Carlton Inn, is located on a prime 456 square metre corner site.
The pub is directly across the road from the University of Melbourne law school. 
There were five bidders vying to buy the Corkman Irish Pub which is a traditional food and beverage venue with public bar, bistro dining, courtyard and first floor hostel accommodation.
The pub had been with the same owner since it last traded in 1987 for $900,000.
 
"The penalties will be imposed to deter such speculative and base mercantile thinking and behaviour."
 
After the demolition the developer duo committed "unequivocally" to rebuild the pub in a 2016 letter to planning minister Richard Wynne.
 
But the magistrate noted no building application had been lodged. 
 
"The company has not taken steps to honour that," Magistrate Maxted noted.
 
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jchancellor-FAypfDUnLy

Carlton's Corkman Irish Pub owners fined $1.325 million for illegal demolition

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A Woolworths-anchored shopping complex in Munno Para, a northern suburb of Adelaide, has hit the market.
The convenience-based shopping centre at 297 Peachey Road occupies a two hectare site and generates around $1,613,400 per annum. 
The centre presents a gross lettable area of 6,390 sqm, comprising the full-line Woolworths supermarket and associated BWS liquor store, which are operating under a new 12-year lease. 
There is also a mix of 17 speciality tenants, including a Smokemart, newsagency, café, medical centre and Terry White Pharmacy. 
 Savills Australia’s Peter Isaksson, Rino Carpinelli and Steven Lerche have been appointed to conduct the expressions-of-interest campaign.
They anticipate strong interest from investors after limited opportunities came to market last year.
“There is no doubt there is pent-up demand from investors wanting to enter growth areas such as Playford,” Isaksson said. 
“Buyers are looking to capitalise on Adelaide’s northern growth corridor and the large number of dwellings to be constructed within the city’s fastest-growing precinct.” 
Woolworths Playford is part of the $1 billion urban development project, Playford Alive, which is being jointly managed by the City of Playford council and state government.  
The precinct comprises popular suburban-lifestyle facilities, such as healthcare, education, recreation and a new $250million town centre. 
Rino Carpinelli said shopping centres like Woolworths Playford were rarely traded in South Australia.
“This centre serves the everyday needs of the local community and is classed as a defensive asset, driven largely by non-discretional shopping,” he said. 
“The centre offers significant depreciation benefits backed by a secure income stream and long weighted average lease expiry of 9.12 years by area,” Mr Isaksson said.
Carpinelli expects investors to be interested in the new and highly regarded retail precinct. 
He went on to say that the shopping centre’s location within a new and highly regarded retail precinct would be a key selling point for astute investors.
“The centre is strategically positioned to benefit from uplift in local retail spend in the coming years, with the main trade area population estimated to increase from 35,340 people as at June 2018, to 47,890 people by 2031,” he said. 
“Similarly, the current retail trade area expenditure of $397 million is forecast to significantly grow to $720 million by 2031.”
 
 
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jrobinson-rf4aSBido9

Savills list Woolworths anchored Playford shopping complex in Adelaide

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A historic Perth hotel, the Paddington Ale House, is being offered for lease. 
Located at <a href="https://www.commercialrealestate.com.au/property/141-scarborough-beach-road-mount-hawthorn-wa-6016-12925310" target="_blank">141 Scarborough Beach Road, Mt Hawthorn</a>, the Paddington Ale House comprises a trading area of 1,676 sqm.
It is positioned on a corner block.
Built circa 1932, the hotel consists of a restaurant, bar, alfresco dining, and accommodation rooms.
The Paddington Ale House is licensed to hold 520 patrons.
<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/2019/2/20/Ale-House.jpg" alt="">
CBRE’s Ryan McGinnity and Chloe Mason have been appointed to market the long-term lease for the venue via an expressions of interest campaign closing March 12.
Mr McGinnity said The Paddo is a Perth institution, "being one of the city’s most well-frequented hotels over its 87-year existence."
"Not only does it benefit from an established reputation, but The Paddo’s position in a strong growth area will underpin its future success as a highly frequented venue."
“The venue’s location, 4km from the Perth CBD, proximity to Leederville, North Perth and Wembley and the potential to obtain a long lease term, all weigh in favour of the offering," Mr McGinnity concluded.
Ms Mason said with the City of Vincent’s population is expected to increase 33% over the next 17 years, local businesses such as the Paddington Ale House would benefit.
Plican Neil Randall sold The Paddington Ale House to his landlord in November 2018.
Mt Hawthorn Hospitality Co directors Robert and Ben Swanson took over.
Neil had owned the ale house for 31 years.
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