<p>Toorak's dress circle St Georges Road, home to some of the city's priciest homes, is set for a rare new apartment development.</p>

<p>Blood Diamond Group, an entity tied to Tina Brandi, wife of David Brandi who has been a prolific bidder on The Block over the years, has filed plans for an ultra-exclusive development across an amalgamated 3,662 sqm site at <a href="https://www.apartments.com.au/new-apartments/104-106-st-georges-road-toorak-vic-3142">104 and 106 St Georges Road</a>.</p>

<p>The proposal would replace two existing homes on the riverfront site with a five-level apartment building cascading down the steeply sloping land toward the Yarra River. Designed by Charles Wright Architects, the development has been carefully shaped around the site’s topography and river environs, with the upper levels stepping back to reduce visual bulk from both St Georges Road and the Yarra corridor.</p>

<p>Planning documents describe the proposal as “a site layout and building typology that is consistent with the emerging character of the area and which provides exceptional amenity for future residents without compromising that of neighbouring properties.”&nbsp;</p>

<p><img alt="First look: Blood Diamond Group unveils riverfront apartment plans for Toorak Pavilion" data-entity-type="file" data-entity-uuid="ea19a17e-7528-4fa8-b727-05f2f7c025e5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Toorak%20pavilion%20a_0.png?VersionId=rZ2IjdoUL_UrRl1sZ4wZHnQXbYUaEmUQ" /></p>

<p>The scheme comprises 12 apartments, including 10 three-bedroom residences, one one-bedroom apartment, and a substantial split-level five-bedroom penthouse. A 624 sqm communal rooftop terrace will crown the building, while three undercroft levels embedded into the hillside will accommodate apartments and basement parking.</p>

<p>The design leverages the site’s dramatic northern outlook across the Yarra River, with living areas and balconies oriented toward the water. A central atrium running the full height of the building is intended to draw natural light deep into the residences and improve internal amenity.</p>

<p>Landscape architecture by <a href="https://www.apartments.com.au/landscape-architect/jack-merlo">Jack Merlo Design &amp; Landscape</a> will play a major role in softening the built form, particularly along the river edge where significant setbacks have been introduced. The proposal includes a minimum 30-metre setback from the Yarra River boundary, preserving a substantial landscaped buffer between the development and the waterway.</p>

<p>While a mature English Oak near the front of the site is proposed for removal, the plans retain a large English Elm closer to the riverfront, alongside other established vegetation in the lower section of the property.</p>

<p><img alt="First look: Blood Diamond Group unveils riverfront apartment plans for Toorak Pavilion" data-entity-type="file" data-entity-uuid="ed3bf19b-5bc7-482f-bde7-41f709a13c3a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Toorak%20pavilion%20b.png?VersionId=SG_kBGu4rOaSPY8FtVcmPJfSCrstuOfg" /></p>

<p>Architecturally, the building adopts strong horizontal forms with expansive glazing and curved balcony edges facing the river. Planning documents note the upper levels “adopt a receding form” to ensure the building responds appropriately to the Yarra River environs overlay controls.&nbsp;</p>

<p>The surrounding streetscape is characterised by large contemporary homes embedded into the hillside, many presenting as modest one or two-storey forms to the street before expanding toward the river frontage below. The planning report notes this established pattern heavily influenced the massing strategy for Toorak Pavilion.&nbsp;</p>

<p>Until the recent sale of the landmark Clendon Road mansion Coonac for around $130 million, St Georges Road held the state's most expensive home, the $80,000,088 derelict "Ghost House" mansion that was bought by crypto king Ed Craven.&nbsp;</p>

<p>Blair House, also on St Georges Road, sold for $74.5 million in 2022.</p>


Joel Robinson

First look: Toorak Pavilions slated for dress circle St Georges Road

<p data-end="205" data-start="54">Six months after a development site on Kangaroo Point’s Shafston Avenue sold for $6.55 million, plans have been lodged for a 23-storey apartment tower.</p>

<p data-end="443" data-start="207">A company named JMT Mega Capital, understood to be interstate investors when the 1,222 sqm double block traded late last year through Patona Property, is proposing an 84-apartment development in place of the existing low-rise buildings.</p>

<p data-end="694" data-start="445">The slender tower at <a href="https://www.apartments.com.au/new-apartments/212-220-shafston-avenue-east-brisbane-qld-4169">212–220 Shafston Avenue</a>, overlooking the Brisbane River, has been designed by <a href="https://www.apartments.com.au/architects/aplus-design-group">Aplus Design Group</a>. It will comprise a mix of one-, two- and three-bedroom apartments above six basement levels, topped by rooftop resident amenities.</p>

<p><img alt="First look: 23-storey Kangaroo Point tower planned for Shafston Avenue riverfront precinct" data-entity-type="file" data-entity-uuid="7e17ba9e-553e-42ef-92b6-22081671521a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/podium_3.png?VersionId=hlVUf99vrOjUs.vhQs0qV0DhOncUy9T8" /></p>

<p>The development has been designed as a vertically articulated tower with recessed balconies, curved façades and planted edges intended to soften its scale within the evolving Shafston Avenue skyline. In the submitted Urban Design Report, Aplus Design Group said the tower had been “shaped with a slender vertical expression, articulated façades, recessed balcony zones, integrated planting and a clearly defined podium relationship, helping to reduce perceived bulk and create a more elegant contribution to the Shafston Avenue streetscape and broader Kangaroo Point skyline.”</p>

<p>The scheme comprises 84 apartments, including 25 one-bedroom units, 34 two-bedroom apartments and 25 three-bedroom residences. A total of 104 car spaces are proposed across six basement levels, including resident, visitor and accessible parking.</p>

<p>Residents will have access to rooftop communal open space and shared amenities, while the development also incorporates deep planting zones and subtropical landscaping throughout the podium and tower levels. The project includes 35 per cent communal space coverage across the site and a 17.5 per cent deep soil zone allocation to support urban greening outcomes.</p>

<p>The application exceeds the mapped building height under the Kangaroo Point Peninsula Neighbourhood Plan and is being assessed under Brisbane City Council’s impact assessment pathway. The design team argues the additional height is supported by the site’s strategic inner-city location, existing high-density zoning, and proximity to transport and employment hubs.</p>

<p>“The design has been developed to make better use of a well-serviced urban site within an established high-density residential setting, while improving the street presentation and overall quality of the public realm interface,” the report states.</p>

<p><img alt="First look: 23-storey Kangaroo Point tower planned for Shafston Avenue riverfront precinct" data-entity-type="file" data-entity-uuid="1ab44b1e-ff45-4bf3-8da8-8aa0cd79db33" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/site_10.png?VersionId=tSxeGekZOqj1e9g3PEn_yFoC3taKDp3U" /></p>

<p>The proposal adds to a growing pipeline of apartment developments reshaping Kangaroo Point ahead of the 2032 Brisbane Olympic Games, with demand continuing to strengthen for new housing supply in well-connected inner-city precincts.</p>

<p>Mosaic has nearly sold out its under-construction <a href="https://www.apartments.com.au/new-apartments/the-bedford-by-mosaic-16-30-prospect-street-kangaroo-point-qld-4169">The Bedford by Mosaic</a>&nbsp;and <a href="https://www.apartments.com.au/new-apartments/the-carter-by-mosaic-77-linton-street-kangaroo-point-qld-4169">The Carter</a>,&nbsp;while Pikos recently completed <a href="https://www.apartments.com.au/buildings/skye-residences-by-pikos-kangaroo-point-8-river-terrace-kangaroo-point-qld-4169">Skye Residences</a> nearby. Pikos is also delivering <a href="https://www.apartments.com.au/new-apartments/gaia-kangaroo-point-108-lambert-street-kangaroo-point-qld-4169">Gaia</a>, over 230 three- and four-bedroom apartments on Lambert Street.</p>


First look: 23-storey Kangaroo Point apartment tower planned for Shafston Avenue riverfront precinct

<p>A new 25-storey apartment tower proposed for Mercer Street would push Geelong’s western gateway skyline higher, with Morphy Birrell Property Group lodging plans for a project directly beside one of the city’s most significant heritage streetscapes.</p>

<p>The <a href="https://www.apartments.com.au/architects/fk-australia">FK</a>-designed development at <a href="https://www.apartments.com.au/new-apartments/65-67-mercer-street-geelong-vic-3220">65-67 Mercer Street</a> has now been referred to Victoria’s Planning Minister. The site sits opposite the Geelong rail corridor and immediately south of the heritage-listed St Peter and Paul’s Catholic Church and Ashby Hall precinct.</p>

<p>Rather than compete with the neighbouring ecclesiastical buildings, the proposal adopts a sculpted podium intended to reference the materiality and scale of the heritage context. Planning documents note the design draws cues from the “dark stone brick” church and surrounding masonry buildings, while the tower above transitions into a softer, curved form oriented toward Corio Bay and the Geelong waterfront.</p>

<p><img alt="First look: Morphy Birrell Property Group targets 25-storey Geelong tower beside landmark church precinct" data-entity-type="file" data-entity-uuid="b797d10c-d4a6-47af-b8df-1aeaa3b382be" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/public%20square.png?VersionId=QGIpcz1x1hKB6lQLl2iobyHqb6PS2Ztc" /></p>

<p>The development forms “Stage 5” of Morphy Birrell Property Group’s broader Mercer Street precinct strategy, following the completion of the 21-storey Miramar tower on Cavendish Street and several additional approved redevelopment stages nearby. Planning consultants Ratio said the proposal “represents an exemplary development outcome” aligned with the strategic ambitions for Central Geelong’s continued urban renewal.</p>

<p>The mixed-use project would replace an existing low-rise commercial building and surface parking area on the 3,320 sqm corner site. FK’s urban context report describes the proposal as a residential development comprising apartments, resident amenities, commercial space, and integrated landscaping positioned to maximise bay views and northern sunlight access.</p>

<p>Renders show a deeply articulated tower with curved balconies stepping above a lower masonry podium that frames a landscaped forecourt facing Mercer Street. The design intentionally preserves sightlines toward the adjacent church buildings, with the podium scaled to reinforce the heritage edge before the tower recedes upward.</p>

<p><img alt="First look: Morphy Birrell Property Group targets 25-storey Geelong tower beside landmark church precinct" data-entity-type="file" data-entity-uuid="2bdca91e-66f7-4ac7-8baa-2f93bd5b564e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/geelong%20site.png?VersionId=QOhbino4ZgzKYw5dW3QE14E.2yq.Sv87" /></p>

<p>The planning report highlights the site’s strategic location within 400 metres of key Geelong destinations including Cunningham Pier, the Geelong Station precinct, Deakin University, and the convention centre. Bus services run directly along Mercer Street, while the Corio Bay foreshore sits around 100 metres north of the site.</p>

<p>The proposal arrives amid accelerating redevelopment across central Geelong, where planning policy continues to encourage higher-density housing close to transport infrastructure and the waterfront. Mercer Street in particular has emerged as a focal point for taller apartment development due to its proximity to Geelong Station, the bay, and major civic infrastructure.</p>


Morphy Birrell Property Group targets 25-storey Geelong tower beside landmark church precinct

<p>Development giant&nbsp;<a href="https://www.apartments.com.au/developers/hamton">Hamton</a> and joint venture partner Hostplus have revealed the next residential stage of their $3 billion Moonee Valley Park masterplan, lodging plans for 512 more apartments within the precinct on surplus racecourse land at 110 Wilson Street, Moonee Ponds.</p>

<p>The proposed development, dubbed&nbsp;<a href="https://www.apartments.com.au/new-apartments/trackside-house-110-wilson-street-moonee-ponds-vic-3039">Trackside Gardens</a>&nbsp;in the planning application, follows the <a href="https://www.apartments.com.au/news/vic/first-look-exclusive-hamton-and-hostplus-reveal-sixth-stage-of-moonee-valley-park-masterplan">recent unveiling of the sixth-stage Cox Place Precinct</a> and continues the long-running transformation of the Moonee Valley Racecourse into one of Melbourne’s largest urban renewal projects.</p>

<p>Positioned on the north-eastern edge of the racecourse adjacent to CityLink, Trackside Gardens will comprise three residential buildings rising between 61.8 metres and 86.4 metres within a heavily landscaped precinct shaped by Hamton’s Nature Based Cities framework.</p>

<p>The project forms part of the broader Moonee Valley Park redevelopment being delivered by Hamton, Hostplus and the Moonee Valley Racing Club, which is reshaping the 40-hectare racecourse site into a mixed-use neighbourhood with housing, retail, commercial space, hotels, parkland and community infrastructure.</p>

<p>Trackside Gardens sits separately to the recently proposed Cox Place Precinct, a five-building stage comprising around 1,100 residences, two build-to-rent buildings, two build-to-sell towers, retail, office space, and a hotel overlooking the racetrack. Together, the projects continue to accelerate housing delivery across the precinct.</p>

<p><img alt="First look: Hamton expands Moonee Valley Park masterplan with 512-home Trackside Gardens precinct" data-entity-type="file" data-entity-uuid="5fc1941e-52d3-41c6-abc4-0f13fe8ae5ea" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/DA%20Edits%20%281%29.png?VersionId=7qwRHq5dcvXWNot2hNOgoQhN2GIWudNK" /></p>

<p>Designed by <a href="https://www.apartments.com.au/architects/dko-architecture">DKO Architecture</a> with landscape architecture by Tract, Trackside Gardens has been conceived as a botanical-style residential precinct prioritising canopy planting, communal green space, and vertical landscaping.</p>

<p>“The architectural vision for the proposed development centres around buildings in a botanical park setting that champions the important role of nature,” the planning submission states.</p>

<p>“The proposal incorporates principles of biophilic design, with landscape and environmentally sustainable development influencing the ultimate design response of the buildings and prioritising the ground plane to ensure a high amenity for both occupants and visitors.”&nbsp;</p>

<p>Trackside Gardens will deliver 512 apartments across the three buildings, alongside 518 basement car spaces and 523 bicycle spaces. Around 20 per cent affordable housing is proposed across the broader North East Precinct, equating to around 158 dwellings.&nbsp;</p>

<p>The affordable housing component will be concentrated within the Wilson East building, while the remaining apartments are expected to be delivered as build-to-sell residences.</p>

<p>Trackside Gardens has been designed around Hamton’s Nature Based Cities initiative, founded by Executive Chair Paul Hameister OAM in partnership with the University of Melbourne, Urbis, Ark Resources and Tract. The initiative promotes integrating higher-density urban development with significant biodiversity, tree canopy and landscape outcomes.</p>

<p><img alt="First look: Hamton expands Moonee Valley Park masterplan with 512-home Trackside Gardens precinct" data-entity-type="file" data-entity-uuid="89353449-7b3c-42fd-8fd8-8bf64a5ef80f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_4.png?VersionId=X8jRt0P2L7fIWjLhfX6gPknXToXIBeLj" /></p>

<p>A comprehensive landscape strategy would introduce deep soil planting, vertical greening, communal gardens, and new pedestrian links throughout the site.</p>

<p>Planning documents state the development is targeting a 5 Star Green Star Buildings rating, a 7.5-star average NatHERS rating, and “Exemplary” Nature Based Cities certification.&nbsp;</p>

<p>The proposal joins an expanding pipeline of approved and proposed buildings within Moonee Valley Park, including the recently launched Eveline apartments and the approved Grandstand North and South towers.</p>

<p>Hamton has increasingly focused on precinct-scale, nature-led communities across Melbourne’s middle-ring suburbs, with projects spanning Hawthorn, Kew, and Moonee Ponds.</p>


Hampton unveils Trackside Gardens, latest stage of $3 billion Moonee Valley Park masterplan

<p>The Paul Gedoun-led <a href="https://www.apartments.com.au/developers/ss-projects">S&amp;S Group</a> has achieved another milestone in its $1 billion transformation of Rainbow Bay on the southern Gold Coast with the completion of the company’s third project in four years, the $160 million <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a> residences.</p>

<p>Delivered by <a href="https://www.apartments.com.au/builders/hutchinson-builders">Hutchinson Builders</a> and designed by <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker Architects</a>, Esprit buyers have now moved into the 94 apartments across two interconnected buildings at 217-227 Boundary Street.</p>

<p>The successful settlement of Esprit marks another astounding chapter in the S&amp;S story, which launched its highly successful Flow apartments three years ago and created its own ultra-luxury branded fingerprint on an area craving new luxury residences.</p>

<p>Most early purchasers have secured gains of well over $1 million since the project launched in 2021.&nbsp;</p>

<p>[smartcode_project:default project_id=102921 project_image_fid=172129]</p>

<p>S&amp;S Projects Founding Director Paul Gedoun said the completion of Esprit reflects sustained demand for premium apartments in tightly held coastal locations.&nbsp;<br />
&nbsp;&nbsp; &nbsp;<br />
“Esprit has attracted buyers seeking a combination of quality design, considered amenity and a location that is becoming increasingly difficult to replicate,” said Gedoun.</p>

<p>“We identified some years ago that Rainbow Bay is a unique market where supply of luxury residences is limited, and we see the settlements in Esprit further underpinning this thinking - that for both owner-occupiers and investors.”&nbsp;</p>

<p>[smartcode_project:default project_id=102921 project_image_fid=172174]</p>

<p>A key feature of the development is ‘Club Esprit’, a 1,000sqm residents-only rooftop level combining wellness and recreation, believed to be a first for the Gold Coast, and which is fast becoming a signature of the S&amp;S brand.</p>

<p>Positioned to capture views across Snapper Rocks, Rainbow Bay and the Tweed River, the rooftop includes a 25-metre lap pool, gym, yoga lawn, sauna and steam facilities, ice bath, private dining spaces, outdoor cinema and landscaped areas for residents.&nbsp;</p>

<p><a href="https://www.apartments.com.au/project-marketer/pezet-matheson">Pezet Matheson</a> Director Jayde Pezet, who led the sales campaign for Esprit and S&amp;S’s Flow and Awaken apartments, said the project’s performance reflects both the strength of the product and the depth of demand for premium apartments on the southern Gold Coast.&nbsp;</p>

<p>“In some cases, we’ve seen values double since launch, which is a clear reflection of how tightly held Rainbow Bay has become and the level of demand for well-executed projects in this market,” said Pezet.&nbsp;</p>

<p>“Buyers recognised early what S&amp;S Projects was delivering here, and that conviction has been rewarded as the project has progressed towards completion.”&nbsp;</p>

<p>[smartcode_project:default project_id=102921 project_image_fid=214819]</p>

<p>Esprit offers a mix of two- three and four-bedroom apartments and sits within walking distance of the beachfront, cafés and local amenities, reinforcing its appeal as both a lifestyle and investment destination.</p>

<p>The project is the third completed by S&amp;S Projects in Rainbow Bay, following Flow Residences and Awaken Residences, which together have contributed to the suburb’s emergence as one of the Gold Coast’s most sought-after coastal pockets. &nbsp;</p>

<p>S&amp;S Projects is continuing its investment in the area with Radia, a $215 million development currently under construction.&nbsp;</p>

<p>[smartcode_project:default project_id=102921 project_image_fid=172175]</p>

<p>Gedoun said the completion of Esprit signals continued confidence in the southern Gold Coast market.&nbsp;</p>

<p>“We’ve seen strong interest in well-located, high-quality apartments, particularly in areas where future development opportunities are limited."</p>

<p>“That’s been a key factor in the performance of Esprit and the broader Rainbow Bay market”.</p>

<p>[smartcode_project_cta:default project_id=102921]</p>


Owners move in as Esprit completes at Rainbow Bay

<p>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.</p>

<p>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;</p>

<p>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.</p>

<p>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.</p>

<p>Even in the low seasons of May and June, occupancy levels reach around 40 per cent.</p>

<p><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" /></p>

<p>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</p>

<p>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.</p>

<p><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" /></p>

<p>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.<span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><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" /></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span><span><span><span><span><span><span>​</span></span></span></span></span></span></p>

<p>The apartments will feature modern amenities and contemporary designs with expansive windows capturing sweeping views of The Remarkables mountain range.&nbsp;</p>

<p>Interiors are equipped with modern finishes, premium appliances, and secure electronic key-locked doors, ensuring a comfortable living experience for residents and guests alike.</p>

<p>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;</p>

<p>Queenstown’s sustained demand for visitor accommodation and rental properties is underpinned by a shortage of housing options, attracting both local and international buyers.</p>


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

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<p>Australia’s property market has extended its winning streak in green buildings by another year, according to a new report by data provider GRESB.</p>
<p>The average score of companies and funds in Australia/NZ improved to 74 in 2016 from 70 in 2015 against a global average of 60, according to the 2016 GRESB.  </p>
<p>GRESB is a leading data provider for environmental, social and governance (ESG) performance of real assets. For the current report, it assessed a record 759 real estate companies and funds, representing more than 66,000 assets and $3.7 trillion in gross asset value, according to a media release.</p>
<p>Australian property companies and funds that stood out were Lendlease, Stockland and DEXUS.</p>
<p>GRESB’s head of Asia Pacific, Ruben Langbroek, said Australia’s leadership reflects a long-term commitment to sustainability and a “pervasive spirit of collaboration and knowledge sharing”.</p>
<p>“Australia’s property industry also regards superior sustainability as a proxy for quality,” said Langbroek.</p>
<p>Australia now has more than 1,320 Green Star-rated buildings, and investors are increasingly demanding reliable data on energy efficiency and sustainability to help guide their decision-making, added Green Building Council of Australia CEO Romilly Madew.</p>
<p>“Sustainability is intimately connected with risk, reward and reputation – and sustainable buildings are not only more efficient and environmentally-friendly, but are also future-proofed assets,” said Madew.</p>
<p>The data also reveals that companies reporting to GRESB for seven consecutive years outperformed their peers in environmental, social and governance (ESG) by an average of 12 points.</p>
<p>The report named four sector leaders for Australia/NZ:</p>
<ul>
<li>Retail: Lend Lease Sub-Regional Retail Fund – Lendlease</li>
<li>Office – Listed: DEXUS Office Trust</li>
<li>Office – Private: Australian Prime Property Fund Commercial – Lendlease </li>
<li>Diversified – Retail/Office: Stockland</li>
</ul>
<p>Lendlease was also named ‘global leader’, coming out top of the 759 companies and funds assessed.</p>
<p>“Lendlease remains steadfast in its commitment to sustainability, and is currently delivering Australia’s first carbon neutral precinct at Barangaroo South. With 74 Green Star ratings under its belt – including apartments, offices, libraries and entire communities – Lendlease continues to set a high watermark for sustainability,” said Madew. </p>
<p>“Stockland has achieved more ratings under the Green Star – Communities ratings than any other developer in Australia, has Green Star ratings for its entire retail portfolio and launched Australia’s first green bond.</p>
<p>“And DEXUS Office Trust now has 87 Green Star ratings, and has delivered some of the nation’s most iconic green buildings, such as 1 Bligh Street and 5 Martin Place in Sydney.</p>
<p>“We applaud these three companies for stellar sustainability leadership.”</p>
<p>GRESB also found that the Australia/NZ region decreased its energy consumption by two per cent over the reporting period. This decrease is the equivalent to the energy required to power 3,037 homes for a year.</p>
<p>The region’s four per cent reduction in carbon emissions equates to saving almost 1.4 million tonnes of greenhouse gases – the same amount generated by almost 286,000 passenger vehicles over an entire year.</p>
<p>“While we can be proud of our achievement, we can’t rest on our laurels. Our challenge is to keep raising the bar as we work towards a zero carbon industry,” said Madew. </p>
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prateek24-ezbwHMbNAk

Australia extends winning streak in sustainable property market

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<p>Property investors are predicted to turn to Western Australia as demand for property in the east coast markets drives increasingly low yields, and correspondingly high prices, according to Savills.</p>
<p>Chris Ireland, State Director Retail Investments/Services, Savills said Perth is primed for a new wave of property investment as investors seek to take advantage of attractive yields in the wake of the end of the mining investment boom, with off-shore investors, particularly Chinese, set to take a more prominent role.</p>
<p>"As demand for property in the east coast markets drives increasingly low yields, and correspondingly high prices, investors will turn to WA, and those who do so first are those who stand to profit most,’’ he said.</p>
<p>"Of course retail, and especially neighbourhood centre retail, is regarded as a defensive investment, the sort of investment that continues to deliver in a downturn and that has been important in the upward sales trend we have seen over the last 12 months.</p>
<p>"But these investors also have an eye to the future in terms of considering location including local population growth and local and state government infrastructure initiatives, which will deliver long after the downturn ends,’’ Mr Ireland said.</p>
<p>Savills have recorded approximately $752.15 million worth of retail  property transactions (&gt;$1m) in the year to June in WA, up from $403.65 million in the previous year, and up on the five year average, of $690 million.</p>
<p>"In relative terms, China remains the sleeping giant but make no mistake its impact on the global economy will be felt for decades as the most significant economic event of a generation.</p>
<p>"We haven’t seen anything like the extent of its force in WA but Chinese overseas direct investment is expected to overtake inbound foreign direct investment in 2016.</p>
<p>"In other words, there will be more investment dollars moving out of China than moving in. This has the ability to significantly impact investment markets worldwide as the Chinese appetite for investment products increases and WA is going to see its fair share of that market."</p>
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jonathanchancellor-7SQnKwU6yx

Perth primed for new wave of property investment: Savills

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<div>Housing activity falls in August were only partially offset by the growth in apartment building, commercial construction and engineering construction accrding to the Australian Industry Group/Housing Industry Association Australian Performance of Construction Index.</div>
<div> </div>
<div>The index noted housing activity fell 13.8 points to 41.1 in August with apartment building up 8.8 points to 56.8, commercial construction up 1.4 points to 53.2 and engineering construction up 6.9 points to 55.5.</div>
<div> </div>
<div><a href="/images/2016/09/07/Screen%20Shot%202016-09-07%20at%2012.14.37%20PM.png" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2016/09/07/Screen%20Shot%202016-09-07%20at%2012.14.37%20PM.png" alt=""></div>
<div> <br>Peter Burn, Ai Group head of policy said very weak conditions in the house building sub-sector overshadowed the positive news for apartment building, commercial construction and engineering construction in August and pulled the broader construction industry down for the month.</div>
<div> </div>
<div>"While mining-related work continues to wind down, in August this trend was offset by a lift in other engineering construction work – including in rail and road infrastructure. </div>
<div> </div>
<div>"A pull-back in employment in August after two months of expansion was the lowest reading for this sub-index in five months. Ominously for the near-term, alongside the fall in employment, both new orders and deliveries were negative for the sector as a whole."</div>
<div> </div>
<div>Harley Dale, HIA chief economist said we are at the peak of the residential construction cycle, but the Australian PCI suggests there is not enough non-residential activity coming along behind.</div>
<div> </div>
<div> </div>
<div>"New home construction has been the kingmaker of the Australian economy in recent years – it’s a shame policy makers have failed to respect its importance," he said.</div>
<div> </div>
<div>"When new home construction inevitably peaks by 2016/17, people will look to a plan for further growth. Right now there seems to be nothing, because housing is the convenient bedrock and nobody has the vision to look beyond the short term."</div>
<div><strong> </strong></div>
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Construction turns down in August 

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<p>A prime three hectare Townsville CBD waterfront development site is being offered for sale again. </p>
<p>It is being marketed again on behalf of receivers Ferrier Hodgson. </p>
<p>The Saltwater, Airlie Beach site is adjacent to The Ville Resort Casino having been one part of the extensive portfolio amassed by former Gold Coast developers Resort Corp. </p>
<p>There are views across the Coral Sea to Magnetic Island from the site at 48 Sir Leslie Theiss Drive.</p>
<p>The site consists of five community title lots, totalling 29,638sqm of land area with 440 metre of water frontage.</p>
<p>The site has a preliminary approval for a mixed residential development that allows for up to an estimated 61,000sqm of Gross Floor Area (GFA) across the site offered to market through Colliers International.</p>
<p>In 2011 the Resort Corp receivers marketed the troubled company's last major asset which was consolidated at a $49.5 million cost in 2007 when bought from Consolidated Properties.</p>
<p>The original project was earmarked to develop 570 apartments.</p>
<p>In 2007, Resort Corp boasted a development portfolio on the northern NSW and Queensland coasts totalling $1.35 billion.</p>
<p>Linked to Paul Brinsmead and Peter Madrers, the group was placed in voluntary administration in March 2009, declaring debts of more than $300 million.</p>
<p>The site also failed to sell after an expressions-of-interest campaign in 2010.</p>
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jchancellor-FAypfDUnLy

Townsville development site listed again

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<p>Bank of China’s investment arm has shelled out $130 million to buy an office tower in Sydney’s Sussex Street with the intention of making it the bank’s headquarters.</p>
<p>Bank of China Global Investors finalised the purchase of 140 Sussex Street from Deutsche Asset Management last week, according to a report in the Australian Financial Review.</p>
<p>The report quoted Deutsche's head of acquisitions for Asia Pacific, Real Estate, Rahul Ghai as saying that Australia remained a key focus.</p>
<p>"We continue to remain committed to Australia.”</p>
<p>“In the last five years we have transacted close to $1 billion in Australia. We will continue to invest and at the right time divest on behalf of our clients,” he added.</p>
<p>CBRE’s Richard Butler, Mark Hansen and Sharon Yang brokered the deal.</p>
<p>Current anchor tenant, ING Australia, is moving out in May 2017. </p>
<p>The site has 14 levels of ­office space and basement parking.</p>
<p>The Bank of China owns its building at 39 York Street but has been looking to expand into a better building. It will occupy around half of the 12,440-square-metre building, the AFR said. </p>
<p>"We know that Bank of China looked for some time for owner-occupier premises. This building was perfect because of its car-parking and views and excellent condition," Butler said.</p>
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Bank of China buys Sydney office tower for $130 million as new headquarters

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<p>Two stylish office suites in Sydney’s inner city suburb of Surry Hills recently exchanged hands, one fetching more than $1.5 million and the other going for nearly $700,000.</p>
<p><a href="https://www.realcommercial.com.au/property-offices-nsw-surry+hills-501949502" target="_blank">Suite 517, 50 Holt Street</a> has a floor area of 142 sqm and fetched $1,565,300. The other, <a href="https://www.realcommercial.com.au/property-offices-nsw-surry+hills-501949514" target="_blank">Suite 512</a>, sold for $660,000. It spans 55 sqm.</p>
<p>Both were sold with vacant possession and are part of 19 suites in the building.</p>
<p>50 Holt Street is the epicentre of the Surry Hills business district with a community of more than 70 businesses, including Cue HQ, ASOS and Guzman &amp; Gomez.</p>
<p>The place is a stone’s throw from Central Station and Prince Alfred Park pool and home to restaurants Porteno, Muum Maam, Di Bella and 121 BC all on the ground floor.</p>
<p>The selling agents are David Brown and Nelson Ferreira of DB Property.</p>
<p>According to the ad listing, there is “a queue of tenants waiting to lease space”, so the suites are expected to be good investment. </p>
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Stylish office suites in Sydney's Surry Hills snapped up by investors

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<p>A quaint hotel in Queensland’s North Rockhampton has just been snapped up for $200,000.</p>
<p>The two-storey hotel at <a href="https://www.realcommercial.com.au/property-hotel+leisure-qld-koongal-501956402" target="_blank">385 Lakes Creek Road, Koongal</a> has a main bar, bistro/function room area and 10 boarding rooms upstairs. There is also the potential for re-opening a drive-through bottle shop.</p>
<p>It has 10 boarding rooms and a large car park.</p>
<p>The corner property, which spans 1,608 sqm, was sold with vacant possession by Andrew Leach of Ray White.</p>
<p>This site has enormous potential for an Owner-Operator Publican or a redevelopment site~ in the future.</p>
<p>The property can be redeveloped subject to council approval.</p>
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Rockhampton hotel with bar changes hands for $200,000

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<p>Neighbourhood shopping centre deals across Australia were recorded at $1.2 billion for the 12 months to June 2016, down from $2.6 billion in the previous year, according to recent research by Savills.</p>
<p>A neighbourhood shopping centre is generally defined in the industry as a local shopping centre comprising a supermarket and up to 35 specialty shops. The total gross lettable area of retail floorspace will typically be less than 10,000 square metres.</p>
<p>The sales figure was also own on the five-year average of $1.4 billion. </p>
<p>In the year to June 2016, 56 neighbourhood shopping centres were sold against 91 the previous year and this is commensurate with the five-year average of 60 sales per annum. </p>
<p><a href="/images/2016/09/06/Screen%20Shot%202016-09-06%20at%201.34.50%20PM.png" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/09/06/Screen%20Shot%202016-09-06%20at%201.34.50%20PM.png" alt=""></p>
<p>There are several factors at work in the capital markets which are having an impact on asset prices. </p>
<p>First, there is an abundance of debt and equity available to purchase prime commercial assets on current metrics; second, the pricing of debt and equity domestically, $500 and especially overseas, continues to fall; third, investment fundamentals are sound with no oversupply, little vacancy and good rental growth; and, finally, catchment area fundamentals remain appealing with strong population growth, low unemployment and stable Australian Retail to rising household incomes. </p>
<p><a href="/images/2016/09/06/Screen%20Shot%202016-09-06%20at%201.35.46%20PM.png" target="_blank">Click to enlarge</a></p>
<p> <img src="/images/2016/09/06/Screen%20Shot%202016-09-06%20at%201.35.46%20PM.png" alt=""></p>
<p>Institutions remained active in the investment market for the 12 months ended June 2016, purchasing 39 percent of all neighbourhood shopping centres sold.</p>
<p>Private investors continue to pursue neighbourhood shopping but are now being outpriced by institutions. Also of particular note is the emergence of foreign investors purchasing 29 percent of neighbourhood shopping centres sold.</p>
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Neighbourhood shopping centre deals down sharply in year to June 2016: Savills

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<p>The number of homes taken to auction this week fell slightly to 1,858, compared to the 2,153 auctions held last week and 2,297 one year ago. </p>
<p>The preliminary clearance rate was higher than the previous week’s result of 74.5 per cent and up from last year, when the clearance rate was recorded at 73.2 per cent. </p>
<p>Preliminary results this week are the highest recorded this year.  The results show that Melbourne and Sydney recorded the highest clearance rates of (79.3 per cent) and (83.9 per cent) respectively, however both cities were host to fewer auctions this week when compared to last week.</p>
<p><a href="/images/2016/09/06/20160905-Capital-city.png" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/09/06/20160905-Capital-city.png" alt=""></p>
<p>Across <strong>Melbourne</strong>, this week’s preliminary clearance was 79.3 per cent, up from last week’s result of 77.4 per cent.  This week’s preliminary clearance rate is the highest preliminary rate Melbourne has recorded this year. </p>
<p>It also marks the ninth week in a row that Melbourne’s clearance rate has been recorded above 70 per cent<strong>.</strong>  The preliminary clearance rate is higher than 75.1 per cent one year ago. </p>
<p>There were 826 auctions held in Melbourne this week, a drop from last week’s 1,060 auctions and lower than the 992 auctions held at the same time last year. </p>
<p>Of the 9 individual sub-regions in Melbourne, this week’s strongest performer in terms of clearance rate was the Mornington Peninsula sub-region, where 93.3 per cent of the 30 reported results were successful.</p>
<p><a href="/images/2016/09/06/20160905-Melbourne.png" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/09/06/20160905-Melbourne.png" alt=""></p>
<p>In <strong>Sydney</strong><strong>,</strong> a preliminary clearance rate of 83.9 per cent was recorded across 715 auctions this week. Last week, Sydney’s final clearance rate was lower at 78.5 per cent across 788 auctions.  Since the final week in April this year, Sydney has consistently recorded weekly clearance rates above the 70 per cent mark.</p>
<p>One year ago, auction activity across Sydney was significantly higher, with 1,023 auctions held and 76.9 per cent clearing. North Sydney and Hornsby was the busiest sub-region of Sydney this week for auctions with 121 homes taken under the hammer. </p>
<p>Based on preliminary results the region recorded a clearance rate of 82.0 per cent. Ryde (95.2 per cent) and Northern Beaches (91.5 per cent) recorded the highest preliminary clearance rates of the sub-regions.</p>
<p>Click to enlarge</p>
<p><img src="/images/2016/09/06/20160905-Sydney.png" alt=""></p>
<p>There were 135 <strong>Brisbane</strong> homes taken to auction this week, with 77 results reported so far.  Brisbane also recorded their highest preliminary clearance rate for the city this year (58.4 per cent), up from 44.3 per cent last weeks and higher than one year ago, when 42.9 per cent of the 130 properties taken to auction were successful.  Across the <strong>Gold</strong><strong>Coast</strong> 35 results have been reported so far, with a success rate of 40.0 per cent.</p>
<p><a href="/images/2016/09/06/20160905-Brisbane.png" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/09/06/20160905-Brisbane.png" alt=""></p>
<p>This week, <strong>Adelaide</strong> saw a preliminary clearance rate of 80.7, across 57 reported auctions; the highest Adelaide has recorded for the year.  In comparison, over the previous week Adelaide’s clearance rate was 63.3 per cent and 69.5 at the same time last year.</p>
<p><a href="/images/2016/09/06/20160905-Adelaide.png" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/09/06/20160905-Adelaide.png" alt=""></p>
<p>In <strong>Perth</strong>, auction numbers fell to 26 this week with a preliminary clearance rate of 16.7 per cent.  So far 6 auctions have been reported.  Last week, the final clearance rate for Perth was 34.8 per cent across 29 auctions.</p>
<p><strong>Canberra’s</strong> preliminary rate was 77.8 per cent this week, compared to 71.4 per cent last week and 71.7 per cent one year ago.  This week’s 77.8 per cent is the highest preliminary clearance rate Canberra has seen since the second week in March this year.  CoreLogic has captured 76 results, rising from 56 last week.</p>
<p>7 auctions took place in <strong>Tasmania</strong> this week, five results have been reported so far, however none of these reported results were successful.</p>
<p> </p>
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smiller-vwPjRHTkST

Spring sees preliminary capital city clearance rate reach a new year to date high 

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<div>In Britain the topical political and media talk is of whether an "Australian-style" points based immigration system should be introduced, without any real clarity about what that would mean in practice.</div>
<div> </div>
<div>Back Down Under it's often said that Australia's population growth must slow if the economy isn't creating enough jobs. This is essentially true for 457 visas, but does overlook the potential underlying demand for other visa classes.</div>
<div> </div>
<div>I previously looked at the newly relaxed international student visa rules which were made effective from 1 July, easing the rules for parents and guardians of primary school age students in Australia.<br><br>The recent election campaign also led to some potentially interesting shifts via proposed policies for...</div>
<div> </div>
<div><strong><span style="text-decoration: underline;"><span>Parent visa rules</span></span></strong></div>
<p><span>In 2016, the percentage of Australians born overseas hit its highest level in 120 years at a massive 28 per cent. </span></p>
<div>
<span>Immigration policies understandably prefer immigrants to be of the young, working (or creating jobs through business), and tax-paying demographic.</span><br><span><br></span><span>Thus over the</span><span> 2015/16 Migration Programme year, parent visa places were capped as follows:</span>
</div>
<ul>
<li><span><strong>1,500 places allocated to Parent (non-contributory) visas </strong></span></li>
<li>
<span><strong>7,175 places allocated to Contributory Parent visas</strong></span> </li>
</ul>
<div><span>This means that your best chance of getting a parent visa in the last financial year was likely <a href="https://www.border.gov.au/Trav/Visa/Fees" target="_blank">to pay</a> the prohibitive A$47,000 for a contributory visa - about A$100,000 for a couple! - while successful sponsorship for standard parent visas was extremely hard to come by. </span></div>
<div><span> </span></div>
<div><span>The unattractive alternative for parents wanting to join their families in Australia was to come in on a one year visitor visa, then leave the country for six months on each occasion. It would be a sore test of anyone's resolve to repeat this process over any meaningful period of time! </span></div>
<div><span> </span></div>
<div>
<span>With some 6.8 million Australians having been born overseas the potential demand for parent visas is massive and growing, particularly from China and India. </span><br><br><span>I wouldn't believe anything a politician told me these days, but Google trends activity shows that </span><span>there has been an explosion of interest in parent visas since the last full Census in 2011.</span>
</div>
<div> </div>
<div>
<a href="/images/2016/09/06/PArents.jpg" target="_blank">Click to enlarge</a><br><br><div class="separator">
<img src="/images/2016/09/06/PArents.jpg" alt=""> </div>
<div class="separator"> </div>
</div>
<div>
<span>It's worth noting that previous rules weren't favourable to Chinese families, due to China's one child policy meaning that most parents naturally had only one child in Australia, which was an obvious mathematical hindrance in proving that the balance of your family lived here. </span><br><span><br></span><span>As at 30 June 2016 due to the caps there were 38,770 persons in the queue for standard parent visas (up 59 percent from last year), and another 5,160 persons for aged parent visas (up 28 percent). </span>
</div>
<div><span> </span></div>
<div><a href="/images/2016/09/06/Parent.jpg" target="_blank"><span>Click to enlarge</span></a></div>
<div><span><img src="/images/2016/09/06/Parent.jpg" alt=""></span></div>
<p> </p>
<div>With standard parent visas presently capped at 1,500 per year, a queue of this size at 30 June equated to a ridiculous 25.8 year average wait time for an application to be processed. </div>
<div> </div>
<div><strong><span style="text-decoration: underline;">Election pledges</span></strong></div>
<div> </div>
<div>During a keenly contested election campaign the Australian Labor Party (ALP) announced plans to extend visitor visas to parents out to a far more palatable three years - with parents only being required to leave the country for four weeks at the end of each visa term and paying a $5,000 bond to ensure cover for medical and social services.<br><br>Surely a potential vote-winner for the ALP in the rapidly growing migrant communities, particularly in an era where so many young families also strive to be dual-income households. </div>
<div> </div>
<div>As tends to be the way of these things, the Coalition's knee-jerk response was to announce a new parent visa plan itself, especially aimed at Chinese and Indian visitors (provided that new arrivals pay for health insurance and don't rely on the welfare state for health care, shamelessly piggybacking from the ALP proposals!) and allowing for continuous <strong>five year</strong> visitor visas. </div>
<div> </div>
<div>Given that the number of overseas born Aussies is soon to pass 7 million, such a policy could potentially lead to hundreds of thousands of applicants for visitor visas from parents sponsored by Australian citizens, largely from ageing, non-English speakers hailing from Asia (which is not really the ideal target demographic for policy makers).<br><br>For this reason the Coalition's proposed policy denotes that parents of Australian citizens and permanent residents who have lodged a permanent parental visa application "may" be issued a five year visa "on a case-by-case basis". </div>
<div> </div>
<div>In other words, this is an 'out'. Minister Dutton has the discretion to limit the number of visas issued and retains the right for policy to change course henceforth. </div>
<div> </div>
<div><strong><span style="text-decoration: underline;">The wrap</span></strong></div>
<div> </div>
<div>At this juncture there appears to be very little clarity surrounding what will happen with respect to parent visas.</div>
<div> </div>
<div>The Coalition probably doesn't know the answer itself, election pledges doubtless being dreamed up on the hoof in response to the ALP's evidently popular proposal. </div>
<div> </div>
<div>A point here relevant to the property markets is that if Australia does end up with an oversupply of thousands of apartments as many have forecast, there are levers that can be pulled to loosen immigration policies.</div>
<div> </div>
<div>After all, a sceptic would say that if there's a policy that's always guaranteed to garner support from governing parties of either persuasion, it's one aimed at propping up ailing capital city housing markets. </div>
<div>
<p><span><em>PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.</em><br></span></p>
<p><em>His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.</em></p>
</div>
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