Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

Joel Robinson

First look: Harridan plans Burke Street transformation beside Boggo Road transport hub

IN BRIEF

<ul>
	<li>
	Just three double-storey Sky Homes sit at the top of The Waterline, each with its own private marina berth and rooftop terrace.
	</li>
	<li>
	Construction on The Waterline is complete, with the first residents expected to move in from mid-October.
	</li>
	<li>
	Sky Homes range from 282 sqm to 367 sqm and are priced from $3.65 million.
	</li>
</ul>

<hr />
Lewis Land has opened the first completed sky home for inspection at Harbour Shores, giving buyers their first opportunity to step inside one of just three double-storey residences crowning The Waterline.

Each sky home comes with its own private marina berth, rooftop terrace and Broadwater views, combining the scale of a larger home with direct access to the boating lifestyle that underpins the wider <a href="https://www.apartments.com.au/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters-qld-4216">Harbour Shores</a> masterplan.

[smartcode_project:default project_id=113271 project_image_fid=366708]

Lewis Land Head of Development Michael Long said the inclusion of a berth with every Sky Home had become increasingly valuable as marina access across the Gold Coast tightened.

“Marina berths are becoming increasingly difficult to secure across the Gold Coast, so including one with every Sky Home makes this a genuinely rare offering,” Long said.

“The private 70-berth marina will accommodate boats up to 12 metres in length and is positioned just 2.5 kilometres from the Broadwater, placing the open ocean only 15 minutes away.

“Being able to step out of your home onto your boat is a rare luxury, and it’s something residents here can look forward to when it opens later this year.”

[smartcode_project:default project_id=113271 project_image_fid=366709]

The display opening comes as construction completes on The Waterline, with the first residents expected to move in from mid-October.

The three Sky Homes range from 282 sqm to 367 sqm and each feature three bedrooms, three bathrooms, multiple living zones, expansive kitchens with butler's pantries and large balconies taking in the Broadwater outlook.

Each residence also has three secure basement car spaces and additional storage.

“This is the first opportunity the Gold Coast has had to step into Harbour Shores and see, touch and feel what we’re bringing to life here,” Long said.

“There are only three Sky Homes within The Waterline, ranging in size from 282sqm to 367sqm, with each residence featuring three large bedrooms, three bathrooms, multiple living zones, expansive custom-built kitchens with butler’s pantry, and large balconies capturing Broadwater views.”

<img alt="Harbour Shores" data-entity-type="file" data-entity-uuid="bab65e10-4fab-45e1-92d8-fc56e2ab98ff" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%202.00.16%E2%80%AFPM.png?VersionId=XT8q76LsPkw3cYTsvN3JfFDaPLud90PN" />

Residents of The Waterline will have access to a private pool, along with Harbour Shores' wider collection of amenity including a lagoon pool, social clubhouse, tennis court, gym, yoga facilities and sauna.

Lewis Land partnered with Studio Collective to furnish the completed display, with the interiors designed to demonstrate how the residences could function as permanent homes rather than simply as show apartments.

Studio Collective Director Melissa Park said the surrounding waterways informed the interiors, but in a more restrained way than a traditional coastal scheme.

“We drew inspiration from the canals and coastal surrounds, but our approach was to interpret that subtly through layered materials and a grounded palette of earthy tones, rather than literal coastal references,” Park said.

“We introduced hero moments of green and teal to reference the surrounding waterways, while mirrored elements help reflect natural light.

“The result is a residence that feels elevated yet comfortable, somewhere buyers can genuinely imagine themselves living, entertaining and unwinding.”

Sky Homes are priced from $3.65 million.

Lewis Land is also offering private marina berths with The Residences, its limited collection of three and four-bedroom villas positioned directly along the Harbour Shores waterfront boardwalk.

Three-bedroom villas are priced from $2.99 million, while four-bedroom residences start from $3.19 million.

Harbour Shores is being marketed by Colliers International.

[smartcode_project_cta:default project_id=113271]

Lewis Land opens sky home display as The Waterline completes at Harbour Shores

St Vincent de Paul Society Housing Australia has filed plans for a major mixed-use housing precinct on the southern edge of the North Sydney CBD, adding another significant proposal to a pocket around North Sydn​ey Station that is quickly becoming one of the LGA's busiest development zones.

The State Significant Development Application covers a 5,990 sqm site at <a href="https://www.apartments.com.au/new-apartments/1-19-mackenzie-street-lavender-bay-nsw-2060">1-19 MacKenzie Street and 211 Blues Point Road in Lavender Bay</a>, immediately south of Nor​th Sydney Station and between the commercial core and the lower-rise Lavender Bay Heritage Conservation Area.

Designed by Wardle, the proposal would deliver a new residential tower comprising 88 build-to-sell apartments and 19 affordable apartments, alongside a separate co-living building with 57 rooms and a building manager's studio.

It would also see the significant restoration and upgrade of St Francis Xavier Catholic Church, the adaptive reuse of the former school building, new parish facilities, retail, a new public square and around 1,000 sqm of publicly accessible open space.

<img alt="Vinnies North Sydney" data-entity-type="file" data-entity-uuid="d5dd7f87-a617-463e-b577-17541e01f0e9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.13%E2%80%AFAM.png?VersionId=4R8TsFN3P_LrrXO2HswTOIrx2blil8lh" />

The project is seeking a concurrent rezoning of the site to R4 High Density Residential and an increase in the maximum building height to allow a tower reaching RL120, or up to 20 storeys. The proposal was progressed through the NSW Government's Housing Delivery Authority pathway.

The build-to-sell component will be weighted toward larger apartments, with just six one-bedroom apartments compared with 31 two-beds, 43 three-beds and eight four-bedroom residences.

The 19 affordable apartments will comprise two studios, 15 one-bedroom apartments and two two-bedroom apartments, taking the total apartment component to 107 residences before the 58 co-living rooms are included.

<img alt="Vnnies" data-entity-type="file" data-entity-uuid="7d568ca5-cb90-4e18-96c6-d9795dba0c56" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.05%E2%80%AFAM.png?VersionId=GY2R5M9VtQh0EKy1vajaea19PSLOPuRD" />

Wardle's design for the Vinnies site has sought to negotiate that emerging high-rise context while retaining the lower-scale character of MacKenzie Street and the adjoining heritage conservation area.

The main building adopts a three-storey podium and tower arrangement, with the podium aligned to the ridgeline and front setback of St Francis Xavier Church.&nbsp;Wardle has designed the podium with colonnades, seating, recessed entries and active ground-floor frontages, with sandstone-toned precast concrete and face brick referencing the materiality of the existing church.

The tower then steps back eight metres to the south and six metres to the north before rising in a sculpted form comprising four interlocking quadrants. Wardle has also introduced rounded forms and chamfered corners to reduce the tower's perceived bulk and improve view sharing with neighbouring development sites.

Resident facilities and outdoor areas are planned at the separation between the podium and tower at Level 3, oriented toward Sydney Harbour and the CBD skyline.

The tower itself will feature a glass reinforced concrete facade, with recessed balconies and deep reveals used both to provide shading and privacy and frame views toward the harbour and city. The lower levels take a different architectural approach, using brick and sandstone-toned finishes intended to establish a stronger relationship with St Francis Xavier Church. The Church itself will be conserved and upgraded for its continued use, while the former school building will be adaptively reused as part of the co-living component.

<img alt="Lavendar Bay" data-entity-type="file" data-entity-uuid="2d4418ad-90aa-4d49-af93-c80b140aea80" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.09.47%E2%80%AFAM.png?VersionId=Kv4gzbsACaGvZSRuaqcfGC54jEJRXIDJ" />

&nbsp;

The proposal adds to an increasingly concentrated pipeline of residential development around Blue Street, MacKenzie Street and Lavender Bay.

Just west of the site, Central Element lodged plans earlier this year for one of the most significant residential developments proposed in Lavender Bay in recent years.

Central Element's SJB-designed scheme at 64-66 Lavender Street and 3-7 Middlemiss Street would deliver 163 apartments across two towers rising 23 and 32 storeys, replacing five existing apartment buildings containing 32 homes. The project also forms part of the Housing Delivery Authority pathway.

<a href="https://www.apartments.com.au/news/nsw/first-look-central-element-reveals-lavender-bay-apartment-plans?utm_source=chatgpt.com" rel="noopener" target="_blank">First look: Central Element reveals Lavender Bay apartment plans</a>

Immediately around North Sy​dney Station, another two significant proposals have emerged at 5 and 15 Blue Street.

Zurich Australian Insurance Properties is seeking to adaptively reuse its longstanding commercial building at 5 Blue Street, directly above North Sydney Station, rather than demolishing the structure.

Its SSDA proposes converting the building into a 14-storey mixed-use development with 62 apartments and 86 co-living rooms, together with ground-floor retail and a major refurbishment of Blue Street Plaza. The application is currently at the Response to Submissions stage.

<a href="https://www.apartments.com.au/news/nsw/first-look-zurich-targets-north-sydney-office-conversion-with-148-unit-proposal-above-metro-station">First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station</a>

&nbsp;

First look: Vinnies files for 20-storey Lavender Bay apartment tower as North Sydney housing pocket heats up

When the opportunity arose for South Australian developer Palumbo to return to Kent Town, where it had previously delivered East Park Apartments and the East 
Rundle Apartments, it wasn't one the longstanding developer-builder was going to pass up.

The decision was quickly vindicated, with more than 30 apartments sold within the first month of launching <a href="https://www.apartments.com.au/new-apartments/royal-apartments-kent-town-2-8-north-terrace-kent-town-sa-5067">Royal Apartments</a> to the market.

The 206-apartment development, which will bring significant new supply to Adelaide's tightly held eastern city fringe, also gives <a href="https://www.apartments.com.au/developers/palumbo">Palumbo</a> the opportunity to bring new life to one of Kent Town's most recognisable watering holes.

[smartcode_project:default project_id=6109 project_image_fid=376073]

Royal Apartments incorporates the historic Royal Hotel, a venue Palumbo Managing Director Daniel Palumbo said has a longstanding connection with the local community.

"Everyone in the area has history with the Royal Hotel," Palumbo told Apartments.com.au.

"It was quite an active pub and social gathering place for locals. We want to bring it back to its former glory."

[smartcode_project:default project_id=6109 project_image_fid=376072]

The wider development will comprise two residential towers alongside the restored hotel, sitting on North Terrace opposite the Adelaide Park Lands.

For Palumbo, the project also marks a return to familiar territory.

The developer completed East Park Apartments next door more than a decade ago and jumped at the opportunity to develop in Kent Town again when the Royal Hotel site became available.

"The opportunity emerged, and we moved to secure the site," Palumbo said.

"We were approached by the previous landowner, who said they had extensive commitments in Sydney and weren't in a position to deliver the project.

"We took over the site and within six months recut the design scheme to be more in keeping with the type of development we want to bring to Adelaide.

"Now we're on the market and those changes have really resonated with local buyers."

That has translated into a strong start to sales, with 33 apartments transacting in the project's first 35 days.

Palumbo said the early purchaser profile had been consistent with the group's traditional focus on owner-occupiers rather than investor-led apartment stock.

"Local owner-occupiers have always been our market," he said.

"There are always some investors, but we've never developed what would be called traditional development stock. Owner-occupiers are very much our market."

[smartcode_project:default project_id=6109 project_image_fid=376068]

The buyer mix has been diverse so far, with downsizers and younger professionals both accounting for a significant portion of early sales.

South Australia's current stamp duty settings, which allow&nbsp;eligible homeowners in South Australia aged 60 savings of up to $103,830 on stamp duty when they downsize to a new property valued at up to $2 million,&nbsp;have helped encourage downsizer activity, while younger buyers in their late 20s and early 30s have been attracted to the opportunity to live immediately outside the CBD while still being able to walk into the city.



Location has been a major part of the proposition for both buyer cohorts.

[smartcode_project:default project_id=6109 project_image_fid=376075]

Royal Apartments sits on North Terrace directly opposite the Adelaide Park Lands, with residents able to walk through the parklands toward the East End, Rundle Street and Rundle Mall.

Apartments have been positioned to capture views across the parklands, Adelaide skyline, Botanic Gardens and Adelaide Hills.

Palumbo believes the scarcity of developable land along this section of the Park Lands makes the site particularly difficult to replicate.

"There's very few allotments on that side that can be developed," he said.

"If this location was in New York and you were sitting on Central Park, you'd be talking about a $60 million apartments."

Royal Apartments will offer a broad mix of residences, ranging from one-bedroom apartments through to four-bedroom sub-penthouses and penthouses.

Current listings include one-bedroom apartments from $680,000, while larger three and four-bedroom residences are priced around $2.5 million.

Residents will have access to a swimming pool, gym, barbecue and recreation areas, residents' lounge and dining space, and a communal deck.

[smartcode_project:default project_id=6109 project_image_fid=376067]

The apartments will feature generous balconies, while secure parking, bicycle storage and storage cages will also be provided.

A porte-cochère-style arrival and drop-off area has also resonated with buyers, particularly those attracted to being able to walk into the CBD during the day while retaining secure vehicle access at home.

Palumbo is acting as developer, architect and builder on Royal Apartments, continuing the vertically integrated model it has used across its South Australian portfolio.

The group was also behind the $150 million Sofitel Adelaide, the 251-room five-star hotel and residential tower which opened in 2021.

Palumbo said Royal's launch had come at an interesting time for the broader Adelaide apartment market.

Buyer confidence had initially been impacted by uncertainty surrounding the Federal Budget and broader economic conditions, but Palumbo believes sentiment is beginning to improve against a backdrop of significant investment flowing into South Australia.

He pointed to increased activity across defence and resources, including Olympic Dam, as potential long-term drivers of the state's economy and housing market.

"Money is starting to flow into Adeliade, significant amounts as Adelaide bucks the trend of the rest of the country.," Palumbo said.

"There's a lot of activity in the economy over the next decade. I think more investment will come into this market."

Early works on Royal Apartments are expected to commence this year, with major construction activity and cranes anticipated on site from early next year.

[smartcode_project_cta:default project_id=6109]

Palumbo's return to Kent Town strikes early chord with buyers

Go-to builder-developer <a href="https://www.apartments.com.au/developers/graya">GRAYA</a> is continuing to bulk out its already impressive and diverse apartment portfolio across South East Queensland. Their latest milestone is securing development approval for Silk, its boutique riverfront apartment development in St Lucia.

The approval clears&nbsp;the way for the team to begin construction planning for the 22-residence project.

<a href="https://www.apartments.com.au/new-apartments/silk-st-lucia-16-18-sandford-street-st-lucia-qld-4067">Silk</a> will rise 15 levels from an 810 sqm site at 16-18 Sandford Street, occupying a prominent bend of the Brisbane River with a prized northern aspect across Orleigh Park toward the Brisbane CBD.

The approved scheme will comprise 16 split-floor and six full-floor residences, continuing GRAYA's move into larger-format apartment developments targeting Brisbane's prestige owner-occupier market.

The project has been designed around the site's broad river frontage and dual-direction views, with GRAYA prioritising larger residences, privacy and outlook over apartment yield.

<img alt="Silk St Lucia" data-entity-type="file" data-entity-uuid="aa5c2349-f96c-4914-a812-1f2cd6827af8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%208.25.44%E2%80%AFAM.png?VersionId=WY0vEU_7vYjeRJKQHiCwFdMxu8PvFh52" />

GRAYA Co-founder and Chief Executive Officer Rob Gray said the project had been shaped around local homeowners wanting to remain in St Lucia without maintaining a traditional family home.

"St Lucia is one of those suburbs people do not want to leave," Gray said.

"They know the river, the trees, UQ, the golf course, Toowong and Indooroopilly, and that familiarity is hard to replace.

"True riverfront opportunities here are exceptionally scarce. What we have designed at Silk is a way to stay in the suburb people love, with the scale and privacy of a private home and far less to maintain.

"This is not typical apartment product. It is a proper home on the river, and that is exactly what this market has been missing."

The approval comes as new apartment development continues to increase across the St Lucia and neighbouring Toowong corridor, although direct riverfront sites remain considerably more tightly held.

GRAYA Co-founder and Managing Director Andrew Gray said securing the approval had removed a significant element of development risk from Silk.

"Genuine riverfront sites of this quality in St Lucia are not something that comes up regularly," Gray said.

"The approval removes a substantial layer of execution risk, and the location underwrites demand in a way very few inner-city sites can.

"The fundamentals here are as strong as anything we have assessed in Brisbane."

<img alt="Silk St Lucia" data-entity-type="file" data-entity-uuid="d0f3d734-65e1-48e8-8ed3-2e0715ffcdd9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%208.25.56%E2%80%AFAM.png?VersionId=sOLSs_jdHkXLWbBKzRyayf5BfTb2vPsD" />

Silk will see GRAYA return to a stretch of the Brisbane River where it already has recent construction experience. The vertically integrated group recently completed ARC in neighbouring Toowong as builder for developer Spyre, delivering the riverfront project on a constrained site.

GRAYA will take a different role at Silk, controlling the project from design and development through construction and aftercare under its vertically integrated model.

The development will include a gym and resident leisure areas at ground level, integrated with the river's edge.

Silk joins a growing pipeline for GRAYA across Brisbane and the Gold Coast, which includes Enclave, The Gallery, Coral and Ripple.

The developer-builder has also recently lodged plans for its largest project to date, <a href="https://www.apartments.com.au/new-apartments/the-silo-19-chester-street-newstead-qld-4006">The Silo</a>, a proposed <a href="https://www.apartments.com.au/news/qld/graya-buys-frasers-newstead-site-plans-the-silo-between-james-street-and-gasworks-precincts">$700 million mixed-use development</a> in Brisbane's James Street precinct.

Silk is expected to predominantly target local owner-occupiers and prestige buyers seeking a permanent riverfront home in Brisbane's inner west.

Registrations of interest are now open, with further details on the project and construction program to be released as it progresses.

<hr />
<h2>SILK PROJECT FACTS</h2>

Developer-builder: GRAYA

Project: Silk

Location: 16-18 Sandford Street, St Lucia

Apartments: 22

Built form: 15 levels

Site: 810 sqm riverfront holding

Mix: 16 split-floor and six full-floor residences

Status: Development approved

Next step: Construction planning underway

[smartcode_project_cta:default project_id=152168]

GRAYA greenlit for riverfront St Lucia apartment development, Silk

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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Rooming house operators in Victoria will have to comply with a brand new licensing scheme, which will determine whether each applicant is deemed to be a “fit and proper person”, as defined in the Rooming House Operators Act 2016.
Current registered operators have until 24 August 2017 to apply to the Business Licensing Authority for a licence in order to continue to legally operate.
Only housing associations and housing providers registered under the Housing Act 1983 will be exempt from this requirement.
After submitting a licence application, operators can continue to run their rooming house until the BLA makes its decision about their application. Those who are uncertain about their eligibility for a licence have been advised to seek independent legal advice.
The licensing requirement is in addition to existing legal obligations, including to register a rooming house with the local council and to comply with minimum standards for rooming houses.
Meanwhile, individual rooming house managers will not need to be licensed, but will be assessed as part of the operator’s licence application. Managers will need to meet the same ‘fit and proper person’ requirements as operators.
Operators and managers will also be considered ‘relevant persons’ under the Rooming House Operators Act, in addition to any officers of the body corporate, or real estate agency directly engaged to manage their rooming house.
There is a fee for each ‘relevant person’ nominated in a licence application. Because of this, operators have been advised to ensure their estate agent limits the number of people who take part in management of their rooming house. All relevant persons will be required to provide certified copies of identity documents and a signed consent form, authorising Consumer Affairs Victoria to conduct the required checks to enable the BLA to assess whether the applicant is a ‘fit and proper’ person to hold a licence.
More information about licence eligibility and the disqualification criteria is available on the Rooming house operators section of the <a href="https://www.consumer.vic.gov.au/roominghouseoperators" target="_blank">Consumer Affairs Victoria website</a>.
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j.ballantyne1990-6AQqhLzZaK

Victorian rooming house operators licensing scheme commences  

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Significant land banking and value are set to be unlocked due to the major changes to Sydney's public transport and road network system.
Opportunities are likely to be added along major arterials across the city.
CBRE's Victor Sheu told SMH that the new WestConnex tunnel project would divert traffic flow and commuters from the M4, unlocking greater commercial opportunities in the city’s Inner West.
“Service stations are already among the most sought after commercial assets, with properties secured by five – ten year leases achieving record tight yields," Sheu said.
"This is further exemplified by the severe shortage of commercial investment properties readily available to satisfy the growing investment mandate across Sydney at present."
“With 16 service stations located along Parramatta Road, the current changes to the city’s infrastructure network present attractive investment and land banking opportunities – with these properties underpinned by strong underlying land values as well as long term leases for immediate income.”
Sheu said changes in the city’s transport network – coupled with the rise of sustainable energy – could prompt further changes in the service station sector.
“With more leading vehicle manufacturers taking a step towards alternate energy sources, introducing both hybrid and fuel-free models, there is likely to be decreased demand on petrol – and subsequently the stations that service them."
“Given service stations are currently trading at a market peak, we expect owners to look at reassessing the use of these assets – either looking at alternative commercial uses or expanding the service station model to incorporate more of a food and beverage element.”
Caltex has already expanded its service beyond the traditional service station offering, having recently partnered with breakfast cafe ‘The Foodary’.
“With service stations traditionally located on high exposure sites, there is a huge opportunity to expand the service station model to capitalise on the shifting business environment with a food and beverage component,” Sheu said.
“We’re likely to see more service stations adopt this strategy, in addition to some owners looking at re-evaluating their assets all together to maximize value.”
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Sydney’s changing road network fuels major changes to service station market

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Three key concerns among shopping centre managers that continue to impact on their sentiment are competition, online retailing and fuel prices, according to a national JLL Retail Survey.
The main concerns being highlighted by centre managers as impacting their future turnover performance were ‘competition from other centres’ (with a net balance of -40), ‘online retailing’ (-29) and fuel prices (-23). 
Major fluctuations of fuel prices in recent months have created the issue of shopping centre managers.
JLL’s 16th Retail Centre Managers’ Survey was undertaken in February across 109 JLL-managed retail shopping centres nationally.  
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The most positive factors continue to be ‘changes to tenancy profile’, ‘growth expectations within the trade area’ and ‘planned refurbishment activity’.
Head of Property &amp; Asset Management – Australia, Richard Fennell said that the key strategy for many centre managers is to provide a strong food retailing mix. 
Overall tenant enquiry remains subdued, according to Fennell, however enquiry from fresh food and food catering tenants is buoyant. 
He said quality food offering including cafes gives customers a reason to stay longer in centres.
JLL retail figures are showing positive signs of vacancy improving for both sub-regional and neighbourhood centres. 
Neighbourhood centre vacancies improved from 3.7% in June 2016 to 2.6% in December, well below the long-term average of 4.6%  
Sub-regional vacancies improved from 3.5% to 3.0% but remains above the long-term average of 2.2%.
Fennel said that with strong competition from new centres impacting some centres across the JLL portfolio, the reduced vacancy rate reported across neighbourhood and sub-regional centres was a positive outcome.”
The JLL Survey Report identified speciality fashion as being a challenging sector, particularly in larger sub-regional centres where apparel has traditionally been a significant category. 
In part, the decline of this sector has been offset by a stronger focus on non-retail services such as medical centres, financial services and travel agencies.
Completions in 2017 in the major capital city markets are forecast at 416,000 square metres and this is expected to heighten competition in the retail sector.
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Competition remains the key theme impacting sentiment of shopping centre managers

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A freehold seaside investment opportunity anchored by a fish and chip shop tenant with redevelopment upside at Seaford in Melbourne’s south-east has been sold at auction by Ray White Commercial Oakleigh.
The 110 sqm building at <a href="https://www.commercialrealestate.com.au/property/111-railway-parade-seaford-vic-3198-2013462910" target="_blank">111 Railway Parade, Seaford</a>, was sold under the hammer to a local investor for $552,500 by Ray White Commercial Oakleigh’s Ryan Amler on behalf of a private investor for a yield of 3.4 per cent.
Mr Amler said the property with approved plans and permits for a three-storey development comprising four, two bedroom apartments and one retail shop attracted more than 100 enquiries.
“We had tremendous interest in this investment opportunity with approvals in place for a mixed-use redevelopment,” he said.
“There were four bidders at the onsite auction and some keen bidding for the property achieved a sale price of $552,500.”
Mr Amler said the offering is in a growth corridor of south-east Melbourne and is approximately 500m from the beach.
“The property is on a land area of approximately 222 sqm and is within approximately 2km of both Seaford and Carrum train stations,” he said.
“This single level freehold building is currently leased as an established fish and chip shop of which the tenant has exercised their final three year term which will commence in June, 2017.
Rental is due to increase to $19,701 per annum.
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Seaside fish shop investment sold at auction

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A Moorabbin office and warehouse facility has been sold pre-auction to an owner-occupier for $2.5 million.
The private sale was negotiated through Savills directors Gareth Jackson and Lynton Williams, in conjunction with Just Commercial.
According to Jackson, the former Shannon’s Classic Car auctions property was well suited to the purchaser’s requirements.
"The purchaser jumped on this property because it was so well suited to its requirements that it did not wish to let it go to auction and risk losing it,’’ Jackson said in a statement. 
He said the location on busy Warrigal Road also provided the purchaser with excellent exposure and ease of access for clients and staff.
The <a href="https://www.realcommercial.com.au/property-industrial+warehouse-vic-cheltenham-502261450" target="_blank">321 Warrigal Road</a> property comprises a modern, 1481 square metre building including a  two level office component with a quality kitchen and fit-out, and a clear span warehouse on an 1820 square metre site.
Explaining the pre-auction exchange, Jackson said the purchaser, who is also currently a tenant, had taken advantage of low interest rates to buy in what was a favorable market for owner-occupiers.
"Owner-occupation is a hot market at the moment across the south-east and particularly in the Moorabbin/Cheltenham region and we’re likely to see more such sales as opportunities arise,’’ Jackson added. 
The property was sold with vacant possession by a private Melbourne-based investor.
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Owner-occupier pays $2.5 million for former Moorabbin Shannon’s Classic Car auctions space

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Portfolio sales of Victorian industrial property have dominated a record year for the year to March, seeing a near $600 million increase on the long term average, according to Savills research.
The industrial property sales, which totalled more than $2.145 billion, was heavily up on the long term average with the $970 million worth of national portfolio sales.
Savills Associate Director Research, Monica Mondkar cited the likes of Altis, Blackstone, Charter Hall, Duestche Australia, Mapletree and Propertylink were some of the major sales.
44 percent of reported stock sold went to funds, while owner-occupiers record the most transactions with 28 purchases.
Owner-occupiers were also the most active vendors with 35 per cent of stock reported sold.
The North West region had the most transactions by value with around $845 million in sales or 18 per cent more than the five year average of $715 million.
In the South East sales of $657 million were also up with a 21 per cent rise on the five year average of $517 million.
Two of the biggest transactions came from Charter Hall, who spent $215 million on the Woolworths’ Distribution Centre at Portlink Industrial Estate and a further $102.5 million of Coles Distribution Centre in Truganina.
Lynton Williams, Victorian Industrial Director, said he expected the industrial investment market to continue to provide strong results over the next 12 months and that sustained competition would continue to put downward pressure on yields.
"The industrial investment market is very much a story about yield.
"Why would you not consider a prime industrial asset which is going to deliver you a six to seven per cent plus yield?"
 
 
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Portfolios dominate record Victoria industrial sales: Savills Research

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The Tootgarook house of House Rules contestants Claire and Hagan passed in at recent auction for $580,000.
Their home hair salon studio at <a href="https://www.realestate.com.au/property-house-vic-tootgarook-124966286" target="_blank">15 Guest Street</a> is close to sale.
The Mornington Peninsula house was renovated on reality TV by the House Rules runners-up Claire and Hagan Rice.
The house features a shopfront from which Claire runs a hair salon.
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The recently married couple hoped to upsize.
They’ve bought a bigger salon in Blairgowrie, at which Hagan plans to open a coffee window that also serves raw food.
Listing agent Anastasia Howard, director of O’Brien Real Estate Rye, said the house would suit buyers who worked from home.
House Rules will return to Channel 7 this year.
 
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Tootgarook House Rules home and studio passed in at auction

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The office property market in April has none at the peak of market, implying the top of the commercial property clock by valuation firm Herron Todd White is empty.
But several regions/cities are approaching the peak of the market, namely Coffs Harbour (above), Gold Coast, NSW Far North Coast and Newcastle, which joined Melbourne at the position.
Apart from that, there wasn’t much movement in the rest of the property clock, according to HTW’s latest update. Sydney remains a rising market, while Perth is approaching the bottom.
While the top of market is empty, there are quite a few places at the bottom of market position, including three capital cities — Adelaide, Darwin and Hobart.  The new entrant to the list of 9 is Wide Bay.
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jonathanchancellor-7SQnKwU6yx

No region at peak of office market, but several approaching the top: HTW April clock 

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Data recently released by the ABS shows that household net worth has increased substantially over recent years however, household debt is also climbing to new record highs.
The ABS’ recent release on finance and wealth for the December 2016 quarter showed that the net worth of Australian households was $9.405 trillion. 
This comprised $11.710 trillion in assets minus $2.306 trillion in liabilities (including share capital). 
Over the 12 months to December 2016, net worth has increased by 8.3% with asset values increasing by 7.9% and liabilities increasing by 6.4%. 
The data breaks out the value of residential land and dwellings which as at the end of 2016 was valued at $6.114 trillion having increased by 8.3% over the year. 
Residential land and dwellings accounts for 52.2% of total household assets.
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Using the data that the ABS publishes on wealth, the Reserve Bank (RBA) publishes a number of finance ratios for households comparing debt and assets to disposable incomes.
At the end of 2016, the ratio of household debt to disposable income was recorded at 188.7%, the highest on record and rising by 1.6 percentage points over the quarter and 3.1 percentage points over the year. 
The ratio of housing debt to disposable income was recorded at 133.8% which was also a record high. 
Based on this data, 70.9% of total household debt was housing debt. 
Over the quarter, housing debt increased by 1.5 percentage points and was 4.5 percentage points higher over the year.
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While the ratios of household and housing debt to disposable incomes is at record-high levels, so too are the ratios of household and housing assets to disposable incomes. 
The ratio of housing assets to disposable incomes sits at 910.6% having increased by 23.2 basis points over the quarter and 42.2 basis points over the year. 
Meanwhile, the ratio of housing assets to disposable income sits at 500.4% having increased by 18.2 basis points over the quarter and 23.8 basis points over the year. 
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Comparing household debt to assets results in a ratio of 20.7% while the figure for housing debt to housing assets is 26.7%. 
This indicates that although household and housing debt is at an historic high level, the value of the assets that this debt is held against is also higher than it has ever been. 
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The data within this report should be viewed with some caution because it is not a granular analysis; so while the national figures may show a strong financial position, at smaller geographies, particularly where dwelling values are falling, the position is likely to be dramatically different. 
With regard to debt, the figure is measured as a national measure and includes those households that are renting and those that own a home but carry no housing debt.
Some households have held their homes for many years and paid down a substantial amount of the debt on the home. 
For those that have either recently purchased, bought at the peak of a market which has since declined or those using interest-only mortgages they are unlikely to be in such a strong position as the national figures indicate. 
Those that don’t own a property asset are also likely to have substantially less household assets than those that do own a home.
Overall household debt is higher than it has ever been and although asset values are also at a record high, there remains concerns about how healthy it is to have such high levels of private debt. 
Furthermore, high debt, particularly for recent purchasers of residential properties, creates risks in the event of a housing market downturn which could see home owners enter into a period of negative equity. 
Especially with the heightened level of investor purchasing recently, investors have demonstrated a greater willingness to sell at a loss because that loss can be offset against future gains. 
Those that own owner occupied property do not enjoy a similar ability to offset these losses and are potentially much more financially vulnerable in the event of a housing market downturn. 
The high level of household debt is also expected to limit the ability for the RBA to lift interest rates suggesting that a neutral cash rate setting will be lower than it has been in the past.
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ckusher-ujnxiKuFQs

Household net worth sits at $9.406 trillion: Cameron Kusher 

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Melbourne’s Zagame Corporation is looking to cash in the chips on its Vanuatu-based Grand Hotel &amp; Casino at Port Vila.
Situated 10km from the airport at the heart of Port Vila’s business and entertainment precinct, the eight-level waterfront hotel offers a variety of income streams from its casino, accommodation and food &amp; beverage facilities.
Rob Cross and Andrew Jackson of CBRE Hotels have been appointed to steer the sales campaign, which closes 30 May 2017.
Cross explained that long time owners Zagame Corporation were selling the hotel and casino complex to focus on their extensive pub and accommodation interests in Australia.
“We’re expecting considerable interest, predominantly from Australian and New Zealand investors,” Cross said.
“The campaign provides an opportunity to acquire the best hotel and casino in Vanuatu, which is currently owner operated but is being offered with vacant possession. 
“While the hotel and casino has enjoyed trading growth in recent years, the introduction of a professional management company with a strong brand reputation could lead to further trading upside.”
Constructed in 2003, the four-star hotel overlooks Port Vila Harbour and offers views towards Iririki Island. The casino features 15 gaming tables and 136 slot machine, with a VIP top floor gaming room.
The hotel also contains a restaurant, conference rooms, four bars and pool and spa facilities.
Jackson added that investors were increasingly targeting leisure-oriented investment opportunities, given the tightly held nature of Australia’s CBD hotel markets.
“In the case of the Grand Hotel &amp; Casino, the property is poised to benefit from the Vanuatu Tourism and Infrastructure Project, which is funded by the New Zealand Aid Program,” Jackson noted.
“The project will concentrate on the rehabilitation of Port Vila’s seafront and the main wharf areas, providing a central pier observation platform, sea steps, a water taxi jetty, seawall promenade and walkways, markets buildings and playgrounds.” 
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