<p><a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> has lodged plans for a $750 million, three-tower mixed-use precinct that would complete the long-running redevelopment of Carlton's former Carlton United Breweries site.</p>

<p>The proposal at <a href="https://www.apartments.com.au/new-apartments/185-195-queensberry-street-carlton-vic-3053">46-78 Bouverie Street and 185-195 Queensberry Street</a> spans a 6,468 sqm site, the last remaining undeveloped parcels within the former brewery's 2007 masterplan.</p>

<p>Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the development will comprise two purpose-built student accommodation towers and a third build-to-sell apartment tower above a shared commercial podium and basement.</p>

<p>Across the three towers, SP Setia is proposing 606 build-to-sell apartments and 1,499 student accommodation units containing 2,009 beds.</p>

<p>The apartments will sit in the tallest tower, which will rise nearly 200m and 55 storeys. It will become&nbsp;one of the more substantial new build-to-sell apartment projects at the northern edge of Melbourne's CBD.</p>

<p>The apartment mix is weighted toward smaller inner-city product, with 188 studios, 206 one-bedroom apartments, 192 two-bedroom apartments and 20 three-bedroom apartments</p>

<p><img alt="First look: SP Setia plans three-tower finale for Carlton’s former CUB precinct" data-entity-type="file" data-entity-uuid="8271bc87-1b0a-41b7-ac73-a425ee375261" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/3_2.png?VersionId=G4lw23o90B1boX4k4dj7rdz2ZEajS9wy" /></p>

<p>Part of the precinct will be a large-scale&nbsp;3,684 sqm supermarket and a further 2,198 sqm of speciality retail, creating close to 5,900 sqm of new commercial space within the precinct.</p>

<p>But one of the biggest components of the proposal is what sits between the buildings.</p>

<p>Around 4,650 sqm, or roughly 72 per cent of the site, will be publicly accessible open space, incorporating plazas, pedestrian connections, landscaped laneways and retail spill-out areas.</p>

<p>The ground plane is intended to finally complete pedestrian connections envisaged when the CUB masterplan was first approved nearly two decades ago, stitching together Victoria Street, Queensberry Street, Bouverie Street and Swanston Street through the former brewery precinct.</p>

<p>Urbis said the development would "complete the CUB precinct", with the public realm providing important north-south and east-west connections through what is currently the final undeveloped portion of the masterplanned site.</p>

<p>SP Setia is also exploring a new linear park within the Bouverie Street road reserve, with the concept to be developed further with the City of Melbourne through the planning process.</p>

<p>The proposal is being pursued through the Victorian Government's Development Facilitation Program under Clause 53.23 for significant residential development with affordable housing.</p>

<p>The planning report acknowledges the proposed heights exceed those contemplated under the original Comprehensive Development Plan and masterplan, but argues the built-form context has changed considerably over the past two decades.</p>

<p>Urbis said the three towers would instead create a stepped transition between Carlton and the Hoddle Grid, rising progressively from the 94.1-metre Tower One along the Queensberry Street edge to the 199.44-metre Tower Three closer to the established CBD-scale buildings to the south.</p>

<p><img alt="SP Setia" data-entity-type="file" data-entity-uuid="e885a07a-592c-40fc-bf82-e6dbaf32da54" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.52.24%E2%80%AFAM.png?VersionId=7s_ErUkSKAdY1mAWp3GRZgMNCGtwhk5m" /></p>

<p>SP Setia plans to deliver the development across three stages.</p>

<p>Stage One would deliver the basement, podium and retail areas for the entire precinct alongside the first student tower. Tower Two would follow in Stage Two, before the 606-apartment Tower Three is delivered as the final stage.</p>

<p>If approved and delivered, the project would close out a redevelopment process that has been underway since the former brewery masterplan was approved in 2007, adding more than 2,600 student beds and apartments to a precinct already home to Swanston Central, the Barak Building, RMIT Design Hub and several large student accommodation developments.</p>

<p>&nbsp;</p>

<p>&nbsp;</p>


Joel Robinson

SP Setia plans three-tower finale for Carlton’s former CUB precinct

<p>Melbourne developer Lowe Living is seeking to add to its growing bayside apartment pipeline, filing plans for a boutique eight-residence development in tightly held Middle Park.</p>

<p>Lowe Living, which has built much of its development portfolio across Melbourne's affluent bayside and south-east suburbs, is behind the plans for the 730 sqm site at <a href="https://www.apartments.com.au/new-apartments/123-125-erskine-street-middle-park-vic-3206">123-125 Erskine Street</a>, just off Armstrong Street and within the Armstrong Street Neighbourhood Activity Centre.</p>

<p>The developer is seeking approval for a five-storey residential building above two basement levels, with just eight large-format apartments and 18 car spaces.</p>

<p>“This is a deliberately very different proposition for us,"&nbsp;Tim Lowe, Co-Founder of Lowe Living, said.</p>

<p>"Eight residences is exceptionally boutique, but that's precisely what this site calls for.</p>

<p>“There is a strong community in Middle Park and the surrounding suburbs who have spent decades building a life here. They no longer want the maintenance of a large period home, but they aren't prepared to compromise on space, quality or location. We think there is a real opportunity to capture that hyper local market. A site like this rarely comes to market.”</p>

<p><img alt="Lowe " data-entity-type="file" data-entity-uuid="875fe572-0f14-4d90-9e11-55b28dd07731" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.42.49%E2%80%AFAM.png?VersionId=GDNQRv9BfpR9r1zkZ5UDyUM4ZvpIksut" /></p>

<p>The low-density proposal has been designed by Cera Stribley and is being progressed through the Victorian Government's Great Design Fast Track pathway, having already secured eligibility from the Minister for Planning.</p>

<p>The Office of the Victorian Government Architect supported its eligibility after finding the proposal demonstrated consistency with the program's seven design principles, while the project's financial feasibility has also been independently confirmed by Invest Victoria.</p>

<p>The project is targeting the downsizer market, with the planning documents describing the homes as larger-format residences and noting the two penthouses could otherwise have been configured as four separate apartments.</p>

<p><img alt="Lowe 2" data-entity-type="file" data-entity-uuid="60ab0987-2da6-4175-adac-315dcf6053c6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.43.15%E2%80%AFAM.png?VersionId=bOCPH0B2MFwlmaRW.TTCF9TzyifgVoQI" /></p>

<p>The site has dual frontage to Erskine Street and Canterbury Place and currently comprises a collection of commercial buildings used as offices, including a former heritage bakehouse, a former stable, a later gabled addition and a central courtyard.</p>

<p>It sits within the Commercial 1 Zone and the Armstrong Street Commercial Precinct heritage overlay, with the existing property classified as a contributory heritage place.</p>

<p>Heritage has subsequently played a significant role in Cera Stribley's design.</p>

<p>The front section of the former bakehouse facing Erskine Street will be retained, including its return walls, street-facing hipped roof and chimneys, while the Erskine Street façade and part of the western return wall of the former stable will also be incorporated into the new development.</p>

<p>Levels four and five will be set back five metres from the retained stable façade, while bricks removed through demolition are proposed to be salvaged and reused within the new building where possible.</p>

<p><img alt="Lowe 3" data-entity-type="file" data-entity-uuid="e97927a9-a2de-4a0f-83b6-65451238abfa" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.43.06%E2%80%AFAM.png?VersionId=VR44AChLrX9q1XPB9GvVQV.ALXXbe4gC" /></p>

<p>Rather than presenting as a single five-storey building to Erskine Street, Cera Stribley has broken the development into a series of distinct forms.</p>

<p>A three-storey infill element will sit between the retained bakehouse and stable façades, with the upper levels recessed behind the heritage fabric. Canterbury Place will similarly feature two three-storey podium forms, separated by a central pedestrian accessway, before the upper two levels step back from the street.</p>

<p>A pedestrian through-link will run through the centre of the project between Erskine Street and Canterbury Place, creating entrances from both sides of the site and introducing landscaping and communal areas through the ground plane.</p>

<p>Landscape architect Acre has designed planting across the ground level, private terraces and upper levels, including a feature canopy tree at level three and integrated planting and arbours across the level four terraces. Five existing Erskine Street trees are proposed to be retained.</p>

<p>Sustainability is also a significant component of the Great Design Fast Track application. The apartments are targeting an average eight-star NatHERS rating, with no residence below 6.5 stars, while the project has achieved a 75 per cent BESS score. Seven of the eight apartments are designed for cross-ventilation, with the remaining residence using mechanically assisted natural ventilation.</p>

<p>The plans also incorporate an 8kWp rooftop solar system, a 5,000-litre rainwater tank and infrastructure allowing future electric vehicle charging for every residence.</p>

<p>Lowe has a strong portfolio across Melbourne's blue-chip suburbs. They recently launched <a href="https://www.apartments.com.au/new-apartments/jardin-house-by-lowe-living-camberwell-335-camberwell-road-camberwell-vic-3124">Jardin House by Lowe Living</a> in Camberwell, their first development in the Stonnington LGA.</p>


Lowe Living unveils Middle Park apartment development

<p data-end="288" data-start="269"><strong data-end="288" data-start="269">Article summary</strong></p>

<ul data-end="888" data-start="289">
	<li data-end="442" data-section-id="8tsh6o" data-start="289"><strong data-end="374" data-start="291">DVB Projects is preparing to launch its second Gold Coast apartment development</strong>, with demolition now underway at 137 Old Burleigh Road, Broadbeach.</li>
	<li data-end="573" data-section-id="1nyxl3e" data-start="443"><strong data-end="513" data-start="445">The 34-level tower will comprise just 49 ultra-luxury residences</strong>, including half-floor, full-floor and penthouse apartments.</li>
	<li data-end="717" data-section-id="oiyimj" data-start="574"><strong data-end="646" data-start="576">The launch follows strong demand at DVB's nearby Sea Glass project</strong>, which is more than 50 per cent sold and currently under construction.</li>
	<li data-end="888" data-section-id="epk9o9" data-start="718"><strong data-end="787" data-start="720">The development adds to the transformation of Old Burleigh Road</strong>, with premium beachfront apartment projects continuing to reshape the tightly held Broadbeach strip.</li>
</ul>

<p data-end="1011" data-start="790"><a href="https://www.apartments.com.au/developers/dvb-projects">DVB Projects</a> is preparing to launch its second Gold Coast apartment development, with demolition now underway on the Broadbeach site as the Sydney developer moves closer to bringing the ultra-luxury project to market.</p>

<p data-end="1296" data-start="1013">The 34-level tower at <a href="https://www.apartments.com.au/new-apartments/137-old-burleigh-road-broadbeach-qld-4218">137 Old Burleigh Road</a> will comprise just 49 residences, ranging from half-floor apartments through to full-floor homes and a penthouse. The launch follows the strong sales performance of DVB's nearby Sea Glass development. More than half of the apartments at Sea Glass, on the other side of Broadbeach, have been snapped up, well ahead of its late 2027 completion</p>

<p data-end="1296" data-start="1013"><img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="2944b4be-c84e-4b54-8dc1-c712e76704c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E02_Exterior_Street%20Level%20Entrance.jpg?VersionId=YoNig7pRdrE3HCue7sUj78LzJteeQf3H" /></p>

<p>The start of demolition at 137 Old Burleigh Road signals DVB Projects’ underlying confidence in the Gold Coast’s luxury beachside apartment sector.</p>

<p>“We see the Gold Coast as one of the most compelling lifestyle markets in Australia, particularly at the premium end where demand continues to deepen,” said Dean Brown, Managing Director of DVB.&nbsp;</p>

<p>“This project has been carefully designed to respond to that demand - delivering large-format residences with a level of quality, privacy and amenity that is still relatively rare in the apartment market on the beachside."</p>

<p>Brown says the site itself is "exceptional."</p>

<p>"Old Burleigh Road is one of the most tightly held beachfront strips, and opportunities to deliver a project of this scale and calibre in this location are extremely limited.”</p>

<p><img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="398f377a-c037-455e-9250-0c5e0d84c35b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/I12_FF%20Balcony.jpg?VersionId=NwOiRWGMubR1c8wthuEfggklcja7al9." /></p>

<p>The project will comprise 40 half-floor residences of approximately 260 sqm, alongside eight full-floor residences spanning around 524 sqm.</p>

<p>A single penthouse will crown the building, featuring a private pool, barbecue area, indoor gym and dedicated entertaining spaces.</p>

<p>Residents will have access to a resort-style suite of amenities, including a 20-metre pool with daybeds, a gymnasium, hot and cold plunge pools, a sauna, and private residents’ lounge and dining facilities.</p>

<p><img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="d1642bb0-9a66-4427-a022-dfc0988c6287" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/A02_Pool%20to%20View.jpg?VersionId=c0IXPyn_Gp_Kn3XCwzMrqIVkAdCEwVXP" /></p>

<p>Sales agent Todd Matheson, of <a href="https://www.apartments.com.au/project-marketer/pezet-matheson">Pezet Matheson</a>, which is marketing both 137 Old Burleigh Road and Sea Glass, said 137 Old Burleigh Road would address a clear gap in the market for genuine luxury products.</p>

<p>“There are very few opportunities on the Gold Coast where buyers can secure a residence of this size and quality in a new building,” Matheson said.</p>

<p>“What we’re seeing is a growing cohort of downsizers and interstate buyers who still want space - they’re not willing to compromise on living area, entertaining or finishes.</p>

<p>“This project has been designed with that buyer in mind. It offers the scale of a home, combined with the convenience and security of apartment living, in one of the coast’s most desirable positions.”</p>

<p><img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="59aae0ca-5639-4320-8aca-d0bf60f48e43" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E01_Exterior%20Hero.jpg?VersionId=DS8Zfy2WtgUEtdfe0TEUuf1W1GfcZq8S" /></p>

<p>Located on a 1,156 sqm site one block from the beachfront, the development will replace an ageing walk-up building and is expected to contribute to the ongoing transformation of the Old Burleigh Road strip into one of the Gold Coast’s most prestigious residential corridors.</p>

<p>With the development moving into the delivery phase, 137 Old Burleigh Road is slated to hit the market later this year.</p>

<p>[smartcode_project_cta:default project_id=145141]</p>


DVB Projects to launch second Broadbeach apartment tower as demolition commences

<p><a data-end="327" data-is-only-node="" data-start="250" href="https://www.apartments.com.au/developers/norus-projects" rel="noopener" target="_new">Norus Developments</a> has lodged plans for a new apartment development in Clayton that would add further momentum to the suburb's emerging Green Street corridor.</p>

<p>Plans have been lodged for the consolidated site at <a href="https://www.apartments.com.au/new-apartments/1359-1365-centre-road-clayton-vic-3168">1359-1365 Centre Road</a>, where Norus is seeking approval for 218 apartments across a 12-storey apartment building designed by <a href="https://www.apartments.com.au/architects/life-architecture-and-urban-design">Life Architecture</a>.</p>

<p>The proposal sits within the Clayton Major Activity Centre at the threshold of the planned Green Street corridor, a landscaped pedestrian connection intended to improve links through the precinct towards Clayton Railway Station.</p>

<p>The development would replace the site's existing collection of low-scale residential and commercial buildings with a single consolidated building, introducing significantly greater housing density to this part of Centre Road.</p>

<p>A retail tenancy is proposed at ground level to activate the Centre Road frontage, accompanied by transparent street interfaces and landscaping intended to create a more pedestrian-focused edge to the development.</p>

<p><img alt="First look: Norus Developments plans landscape-led apartment project for Clayton’s emerging Green Street" data-entity-type="file" data-entity-uuid="0a5a763a-d9e9-4253-af2f-88008de27ebf" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Clayton%20a.png?VersionId=S2WJJbat1XVkZwB9SnYtygirXgWHiklX" /></p>

<p>The building has been designed with stepped massing and upper-level setbacks to manage its transition towards surrounding residential properties. The planning report describes the approach as one that integrates the building into the landscape rather than treating landscaping as a secondary element.</p>

<p>"A strong landscape and public realm strategy underpins the proposal," Urbis states in the planning report.</p>

<p>"Public benefits include an affordable housing contribution, a new pocket park, generous landscaped setbacks, deep soil planting and integrated Water Sensitive Urban Design."</p>

<p>The report adds that these elements are intended to create "a permeable, pedestrian-focused ground plane that enhances walkability, supports urban cooling and reinforces the emerging Green Street character."</p>

<p>Biophilic and passive design principles extend through the residential levels, with planting, daylight, natural ventilation and views towards landscaped areas forming part of the amenity strategy.</p>

<p>Parking would be concentrated away from the public realm, with 145 car spaces proposed from the rear laneway rather than dominating the Centre Road frontage.</p>

<p>The proposal follows an extensive pre-application process with the City of Monash. Three formal meetings were held between the project team and Council from December 2025 to March 2026, with the scheme evolving through several concept iterations before the current design was lodged.</p>

<p>The project arrives as Clayton prepares for substantial change around its established activity centre and the wider Suburban Rail Loop precinct. Its position on Centre Road places the development within an existing concentration of shops, services and public transport, while the Green Street connection is intended to strengthen pedestrian access towards Clayton Railway Station.</p>


First look: Norus plans landscape-led apartment project for Clayton’s emerging Green Street

<p><a href="https://www.apartments.com.au/developers/gardner-vaughan-group">Gardner Vaughan Group</a> has officially commenced construction on Bronze on Chevron, celebrating the sod turning of its first-ever Gold Coast development and marking a significant milestone in the company's continued expansion across South East Queensland.&nbsp;</p>

<p>Following the successful delivery of premium residential developments throughout Brisbane and the Sunshine Coast, <a href="https://www.apartments.com.au/new-apartments/bronze-on-chevron-8-mawarra-street-chevron-island-qld-4217">Bronze on Chevron</a> represents Gardner Vaughan Group's entry into the Gold Coast market. Bronze will deliver 119 one, two, three and four-bedroom apartments above two ground-level retail tenancies.</p>

<p>[smartcode_project:default project_id=107520 project_image_fid=367193]</p>

<p>The recent sod turning ceremony was attended by Deputy Mayor Mark Hammel, President of the Surfers Paradise Surf Life Saving Club, Cassandra Sedgman, project consultants, purchasers, project partners and invited guests to celebrate the commencement of construction.&nbsp;</p>

<p>Gardner Vaughan Group Chief Executive Officer Simon Betteridge said Bronze on Chevron represented an exciting new chapter for the business.&nbsp;</p>

<p>"We've spent almost four decades building homes that respond to the way people want to live, and we're excited to bring that experience to <a href="https://www.apartments.com.au/developments/chevron-island-qld-4217">Chevron Island</a>," Betteridge said.</p>

<p>"Bronze on Chevron is particularly significant because it marks Gardner Vaughan Group's first development on the Gold Coast following many successful projects across Brisbane and the Sunshine Coast."</p>

<p>[smartcode_project:default project_id=107520 project_image_fid=367183]</p>

<p>Betteridge said the ground breaking is a proud moment for the&nbsp;team and their purchasers, who can now see their future homes beginning to take shape.&nbsp;</p>

<p>"As both developer and builder, we're able to oversee every aspect of the project from design through to construction, ensuring the quality and attention to detail Gardner Vaughan Group has become renowned for."&nbsp;</p>

<p>Designed by acclaimed architectural practice <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker</a>, Bronze on Chevron has been thoughtfully designed to complement Chevron Island's evolving streetscape while embracing its relaxed coastal lifestyle.</p>

<p>The development will offer generous residences with refined interiors, premium finishes and resort-style amenities, with completion anticipated in early 2029.&nbsp;</p>

<p>[smartcode_project_cta:default project_id=107520]</p>


The development will offer generous residences with refined interiors, premium finishes and resort-style amenities, with completion anticipated in early 2029

Gardner Vaughan Group breaks ground on first Gold Coast development, Bronze on Chevron

<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

<html><body>
<p><span style="line-height: 1.3em;">In case it wasn't already obvious from reading this blog, I absolutely love analysing data flows, and I particularly love it when the numbers "just work"!</span></p>
<p>Immigration and population growth is a great case in point.</p>
<p>There was a huge surge in immigration and population growth to more than 450,000 per annum through the mining boom, which naturally slowed as the peak was passed and unemployment began to rise.</p>
<p>I've been hinting on this blog for a while that population growth probably bottomed out in 2015 and by now is probably rising again, though I haven't had any hard data to back that up just yet.</p>
<p>This is partly because a better performing Australian economy is now attracting more migrants - annual employment growth of about +2.3 per cent has been far outpacing population growth of about +1.3 per cent, helping the unemployment rate to cascade into a 28 month downtrend.</p>
<p>And secondly because, largely unrecognised by commentary, a relaxation of visa rules will see tens of thousands of international students acquire permanent residency through the "back door" of higher education.</p>
<div><strong><span style="text-decoration: underline;">Immigration rises again</span></strong></div>
<div> </div>
<div>There was a significant +14 per cent year-on-year jump in the number of permanent and long term arrivals in February to 91,590, while the number of permanent and long term departues wasn't much changed at +31,700, for a net monthly inflow of just under 60,000.</div>
<div> </div>
<div>I wouldn't read too much into one month of figures, granted, but mapping the data on a rolling annual basis showed a rise in net immigration for the first time in two years. </div>
<div id="post-body-6916561749567946338" class="post-body entry-content">
<br><a href="/images/2016/04/8/A3.jpg" target="_blank">Click to enlarge</a>
</div>
<div class="post-body entry-content">
<img src="/images/2016/04/8/A3.jpg" alt=""><br><br><div>The share of settlers from Asia over the year to February continued to increase to its highest ever level at +58.1 per cent, largely at the expense of arrivals from the United Kingdom and New Zealand. </div>
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<img src="/images/2016/04/8/A4.jpg" alt=""><br><div> </div>
<div><strong><span style="text-decoration: underline;">Record short term arrivals help rebalancing</span></strong></div>
<div> </div>
<div>The lower dollar is very slowly but surely helping the rebalancing of the economy, with a record 7.55 million short term arrivals in the year to February.</div>
<div> </div>
<div>Australia is a wealthy nation when measured in per capita terms, yet provided the dollar stays low enough for long enough evenutally there could even come a time when short term arrivals match the number of our own overseas trips, as more Aussies opt to holiday at home, thereby boosting the economy. In the words of British Rail, "we're getting there".</div>
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<img src="/images/2016/04/8/A5.jpg" alt=""><br><div> </div>
<div>The annual number of short term arrivals from China, Hong Kong &amp; Taiwan (1.44 million) is poised to eclipse those from New Zealand &amp; Oceania imminently (1.49 million). </div>
<br><div class="separator"><a href="/images/2016/04/8/A1.jpg" target="_blank">Click to enlarge</a></div>
<div class="separator"><img src="/images/2016/04/8/A1.jpg" alt=""></div>
<br><strong><span style="text-decoration: underline;">Education arrivals going vert!</span></strong><br><br><div>With the share of overseas born Aussies now at a 120 year high, more than 2 million persons per annum are venturing Down Under to visit friends and relatives, which in turn reinforces the strength in the number of visitors from Asia. </div>
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<img src="/images/2016/04/8/A6.jpg" alt=""><br><div> </div>
<div>The most significant demographic shift of all has been the near-exponential surge in education arrivals, which bolted to another new record high of 95,100 in February, taking the annual total past half a million for the first time on record. </div>
<div> </div>
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<div class="separator"><img src="/images/2016/04/8/A2.jpg" alt=""></div>
<br><div class="separator">This is extremely significant, as in the years ahead tens of thousands of these international students will become permanent residents, largely in the largest capital cities.</div>
<div class="separator"> </div>
<div class="separator"><strong><span style="text-decoration: underline;">The wrap</span></strong></div>
<div> </div>
<div>Well, it has certainly been a while coming, but February saw the first rebound in immigration in a couple of years.</div>
<div> </div>
<div>In truth, population growth never really slowed that much in the largest capital cities anyway - still chugging along at a thunderous 80,000 to 90,000 per annum - the slowdown was more of a resources and a regional thing. </div>
<div> </div>
<div>In any case from observing the ABS data and from mapping out official government forecasts it looks as though population growth probably bottomed out at around 310,000 per annum, and is set to increase to about 340,000 in 2016, and to beyond 400,000 per annum before the end of the decade.</div>
<div> </div>
<div>Perhaps just as relevantly, it is important to note that the population growth is becoming increasingly centralised and focussed on a handful of capital cities, a trend which will only accelerate thanks to Asian and international student migration. </div>
<div> </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>
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Population growth to rebound in 2016: Pete Wargent

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<p><span>Stockland has acquired the remaining 50 percent stake in the shopping centre formerly known as Sugarland Shoppingtown in Bundaberg, completing its 100 per cent acquisition of the centre.</span></p>
<p><span>Stockland acquired the remaining stake in the centre, which will now be rebranded as Stockland Bundaberg, for $61.5 million from a client of AMP Capital.</span></p>
<p><span>Stockland acquired its initial 50 percent stake in the centre from an AMP Capital managed fund for $59.25 million in October 2014.</span></p>
<p><span>John Schroder, Group Executive and CEO Commercial Property at Stockland, said Stockland Bundaberg SAT amongst the most productive shopping centres in their national retail portfolio. </span></p>
<p><span>Stockland Bundaberg is a 22,795 square metre sub-regional shopping centre anchored by Woolworths, Big W and JB Hi Fi, and includes four additional mini-majors and 64 specialty stores. It is the anchor mall at the centre of the rapidly growing West Bundaberg retail precinct.</span></p>
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Stockland takes 100 percent of Sugarland, Bundaberg

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<div>
<span style="line-height: 1.3em;"> </span><span style="line-height: 1.3em;">South Australia has headaches, not least in the form of Whyalla where the town's major employer is suspended from trading on the securities exchange having failed to guide its steelworks back to break even over recent years, despite continually cutting costs and capex, and having unveiled a recapitalisation proposal back in February that has now been rejected.  </span>
</div>
<div> </div>
<div>Steel company Arrium Limited (ASX: ARI), which employees thousands of workers and has an export port facility at Whyalla, has been stuck in a trading halt and has been suspended from official quotation, with the company staring down a possible bankruptcy or a likely voluntary administration and its last traded share price at only 2.2 cents.<br><br><div class="separator"><a href="/images/2016/04/8/ARI.jpg" target="_blank">Click to enlarge</a></div>
<div class="separator"><img src="/images/2016/04/8/ARI.jpg" alt=""></div>
<div class="separator"> </div>
<div class="separator"><em><span style="text-decoration: underline;">Source: ASX</span></em></div>
</div>
<div>It was announced to the ASX this week, in the euphemistically graceful way of these things, that the Chief Financial Officer of the company has resigned "to pursue other interests", while the company attempts to refinance its massive and unsecured $2.8 billion debt burden.<br><br>
</div>
<div>Whyalla already felt the pain of OneSteel shedding jobs last year and further cuts were made by OneSteel this week, with approximately 1,000 jobs lost in Whyalla since the beginning of last year as South Australian unemployment spiked to a 14 year high. </div>
<div> </div>
<div>Given that Arrium employs about 10 per cent of Whyalla's working population, the potential closure of the steelworks could rip the local community apart, having a more devastating impact than the closure of Holden upon South Australia, potentially resulting in related job losses variously estimated at between 3,000 and 4,000 (Arrium has about 10,000 employees in total, and the possible closure of the steelworks itself would directly account for 1,100 jobs). </div>
<div> </div>
<div>These are desperate numbers for a town with a population of only 22,000, and any such closure would inevitably result in an exodus or population outflow from the region. Let's sincerely hope that doesn't happen, though at present the outlook seems bleak.<br><br><strong><span style="text-decoration: underline;">Property market decimated</span></strong>
</div>
<div> </div>
<div>Median house prices have reportedly fallen sharply in Whyalla, while there have been few takers for attached dwellings, resulting in a crushing of unit prices.<br><br>
</div>
<div>It was reported this week that more than a billion dollars has been wiped off the value of Whyalla's property market in recent years - from $2.7 billion to $1.5 billion - as homeowners flood the market with for sale boards (though quite how those figures are derived given that so few dwellings have actually transacted is open to question). </div>
<div> </div>
<div>This may sound like catastrophising, but vacancy rates are threatening to go through the roof, with scores of properties listed for rent in Whyalla and hundreds more in surrounding suburbs.<br><br>
</div>
<div><a href="/images/2016/04/8/SQM.jpg" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2016/04/8/SQM.jpg" alt=""></div>
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<br><div class="separator"><img src="/images/2016/04/8/SQM2.jpg" alt=""></div>
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<div><em><span style="text-decoration: underline;">SQM Research</span></em></div>
<div> </div>
<div>Note that the dynamics described above have transpired while Whyalla's official unemployment rate is still relatively speaking quite low, at 7.2 per cent  as at December 2015.</div>
<div> </div>
<div><strong><span style="text-decoration: underline;">Slow house sales</span></strong></div>
<div> </div>
<div>In truth it is very challenging to get an accurate read on housing market prices, since although there are now hundreds of properties listed for sale, comparatively very few of them have been selling. </div>
<div> </div>
<div>Looking at some specific examples suggests that if outright panic isn't on the cards yet, it may not be that far off if Arrium does shut up shop. As noted above, hopefully this proves not to be the case. </div>
<div> </div>
<div>By way of one example, following a few false starts and 372 days - more than a year - on the market, this house finally sold for $140,000, 36.4 per cent less than it was originally listed for. </div>
<div> </div>
<div class="separator"><a href="/images/2016/04/8/Whyalla1.jpg" target="_blank">Click to enlarge</a></div>
<div class="separator"> </div>
<div class="separator"><img src="/images/2016/04/8/Whyalla1.jpg" alt=""></div>
<p> </p>
<div class="separator"><a href="https://3.bp.blogspot.com/-4kOFesTsRMM/VwTu2Y5IziI/AAAAAAAAcRo/6n9VAIURjoYWNIwL4t2itTiVV4TXNfNXg/s1600/WHyalla2.jpg"><img src="https://3.bp.blogspot.com/-4kOFesTsRMM/VwTu2Y5IziI/AAAAAAAAcRo/6n9VAIURjoYWNIwL4t2itTiVV4TXNfNXg/s640/WHyalla2.jpg" width="640" height="66"></a></div>
<p> </p>
<div class="separator"><a href="https://1.bp.blogspot.com/-fKMid6N-oPE/VwTu2YeCZuI/AAAAAAAAcRw/atIfr41-xY4Ra78ibngGtjrLeb-mtfN6g/s1600/WHyalla3.jpg"><img src="https://1.bp.blogspot.com/-fKMid6N-oPE/VwTu2YeCZuI/AAAAAAAAcRw/atIfr41-xY4Ra78ibngGtjrLeb-mtfN6g/s640/WHyalla3.jpg" width="640" height="82"></a></div>
<p> </p>
<div>Other examples suggest that prices may now be down by about a quarter over the last couple of years, but this statistic is essentially useless to individual prospective sellers, since it really all comes down to the asset in question and whether a willing buyer can be found.</div>
<div> </div>
<div>While Arrium's steelworks fate is not yet decided, unfortunately this is becoming an all too familar story with regards to these small towns and cities that are so heavily reliant on a small number of employers.</div>
<div> </div>
<div>No doubt it's great if you can buy at the beginning of a resources boom and nimbly sell before the peak, but if you miss the precise turning points these markets have the potential to become frightfully thin and illiquid, and there may be nobody to even rent your property to, let alone sell it.</div>
<div> </div>
<div><strong><span style="text-decoration: underline;">Share indices</span></strong></div>
<div> </div>
<div>Another related graphic from the RBA Chart Pack worth looking at is the Australian share price indices chart. Note that the y axis here is presented on a log scale - the swan dive in the resources index since its peak has been nothing short of breathtaking.</div>
<div> </div>
<div><a href="/images/2016/04/8/australian-share-price-indices-small.gif" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2016/04/8/australian-share-price-indices-small.gif" alt=""></div>
<div> </div>
<div>To a certain extent the resources index has been reflected the fortunes of property markets in resources heavy regions, albeit not coterminously.<br><br>Sure, if you got in to the resources penny dreadfuls in 2000 and sold out in 2007 then you'd say that the resources minnows and micro-caps are the best thing since sliced bread, but over the longer term the self-sustaining industrials and financials triumph.<br><br>Yes, I get the counter-arguments, if you bought a house in Whyalla for $150,000 in 2000 today it "could" be worth double what you paid for it, assuming you can find a willing buyer (i.e. a "when to" investment rather than a "how to" investment).<br><br>That said, looking at actual resales of like-for-like properties shows that price performance has not been as smart as suggested by median prices (which are distorted by development).<br><br>Unfortunately many property investors hopped on to the mining boom bandwagon around 2012 egged on by seminar groups and promoters, and are somewhat more precariously placed as voluntary administration looms large for Arrium.<br><br>Don't get me wrong, I hailed from a depressed steel city myself, and the last thing anyone with a heart wants to see is a single job lost. But the steelworks is not viable, and it appears likely to close without government handouts, and as such the housing market is wobbly to say the least.</div>
<div> </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>
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Whyalla wipeout on the brink (redux): Pete Wargent

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<p>The number of homes being taken to auction is continuing to increase with 1,677 capital city homes scheduled to go under the hammer this week.</p>
<p>While Sydney had more auctions than Melbourne over the past two weeks, this week, Melbourne’s auction activity is set to rise, bringing the total number of residential auctions to 730, as opposed to the 624 scheduled for Sydney.</p>
<p>This week, auction volumes are higher than last week in the two major auction markets of Melbourne and Sydney, while they remain relatively steady across the remaining capital cities.</p>
<p><span style="text-decoration: underline;"><strong>Capital </strong></span><span style="text-decoration: underline;"><strong>City Auctions this week:</strong></span></p>
<ul>
<li>
<strong>Sydney</strong><strong>: </strong><strong>624</strong>
</li>
<li>
<strong>Melbourne: </strong><strong>730</strong>
</li>
<li>
<strong>Brisbane: </strong><strong>145</strong>
</li>
<li>
<strong>Adelaide: </strong><strong>70</strong>
</li>
<li>
<strong>Perth: </strong><strong>32</strong>
</li>
<li>
<strong>Canberra</strong><strong>: 65</strong>
</li>
</ul>
<p>The three busiest individual suburbs for auctions this week are all located in Melbourne, with 17 auctions scheduled to take place in Mount Waverley, 16 in Reservoir and 14 in Preston.</p>
<p><span style="text-decoration: underline;"><strong>Summary of last week’s results:</strong></span></p>
<p><a href="/images/2016/04/7/20160407-cc-table.png" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/04/7/20160407-cc-table.png" alt=""></p>
<p>Across the combined capital cities, clearance rates softened last week from 70.9 percent for the previous week to 66.6 percent last week. Much of the fall in clearance rates was driven by Sydney, which was the busiest auction market over the week, host to 664 auctions and recorded a clearance rate of 69.8 percent, far lower than the 77.9 percent over the previous week.</p>
<p>In Melbourne, the auction clearance rate remained relatively steady, down to 69.2 percent from 71.4 percent the previous week.</p>
<p><a href="/images/2016/04/7/20160407-graph.png" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/04/7/20160407-graph.png" alt=""></p>
<p>Despite the fall in Sydney’s auction clearance rate, there were some very strong sub-regions in the city. City and Inner South (91.4 percent) and Eastern Suburbs (90.5 percent) both saw clearance rates in excess of 90 percent, while in Parramatta only one third of auctions were successful.</p>
<p>The strongest clearance rate across Melbourne was 76.3 percent in the Inner East.</p>
<p>Of the other capital city auction markets, Adelaide was the best performer last week with 71.2 percent of auctions clearing, while in all other cities only around half of the properties taken to auction resulted in a sale.</p>
<p><a href="/images/2016/04/7/20160407-sub-region.png" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/04/7/20160407-sub-region.png" alt=""></p>
<p> </p>
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Melbourne auction levels outpacing Sydney: CoreLogic RP Data's Shana Miller

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<p class="Body"><span style="line-height: 1.3em;">The image-makers who groom politicians think we’re simplistic creatures easily led. Primary school mantras like “stop the boats” will get us every time, apparently. Of course, if they were right, no one would ever lose an election.</span><span style="line-height: 1.3em;"> </span></p>
<p class="Body">Queensland’s Premier Anna Palaszczuk, not the sharpest tool in the political shed, clearly thinks the “jobs, jobs, jobs” song sheet is the best one to sing from. She and her ministers are chanting this mantra in front of cameras every day.</p>
<p class="Body">But it doesn’t matter how good the song, if the singer is tone deaf it’s still going to jar with the listener.</p>
<p class="Body">So the Premier’s big pitch to justify a mining lease to Indian corporate villain Adani for a mega-billion coal mine - jobs for Queenslanders, jobs for locals, jobs for everyone north of the NSW border - had a hollow sound. You could see in her delivery at the press conference that she didn’t really believe it herself.<span style="line-height: 1.3em;"> </span></p>
<p class="Body">She is no doubt aware of Adani’s track record of being big on rhetoric and small on delivery. Already the company is pulling back from earlier statements about starting work and there is unlikely to be any action in the next 12 months.</p>
<p class="Body">The company won’t even make the key investment decision until some time in 2017. It has been unable to find a bank willing to lend for the project and there will continue to environmental opposition and court challenges.</p>
<p class="Body"> <span style="line-height: 1.3em;">As one major newspaper commented: “Much is the wailing and gnashing of teeth at the move by the Queensland government to approved the project, but this approval is entirely political. It’s all about the appearance of commitment to jobs – jobs that will never occur unless the coal price doubles.”</span></p>
<p class="Body">If and when the project goes ahead, the modern trend of flying in your workers from distant locations and accommodating them in temporary workers camps will seriously dilute the economic and property market benefits in Central Queensland.</p>
<p class="Body">To recap, this week the Queensland Government issued the mining lease Adani needs to proceed with its Carmichael mega coal mine in the Galilee Basin. I’ve seen many different cost estimates for this project, anywhere between $8 billion and $15 billion.</p>
<p class="Body">Whichever way you look at it, it’s a massive project. The proponent says there will be 4,875 jobs in building and operating the mine, plus 1,520 jobs in building and operating the rail link to Abbot Point. There will be, allegedly, a $4.1 billion boost to the economy.<span style="line-height: 1.3em;"> </span></p>
<p class="Body">But can we believe the numbers about jobs and economic benefits, and will it make any difference to ailing property markets in Central Queensland?</p>
<p class="Body">The mine site is a long way from major population centres. This will be a FIFO operation with temporary accommodation camps set up close to the mine. And we’ve seen what happens to local towns when mining companies bypass the local communities and hire workers from outside the area, flying them in from distant locations.</p>
<p class="Body">Moranbah, Gladstone and Emerald are examples. All attracted major development of new dwellings from builders who expected rising demand for local houses and services, not understanding that most would be flying in and staying in camps. Massive oversupply resulted, causing rents and property values to fall.<span style="line-height: 1.3em;"> </span></p>
<p class="Body">The existence of major resources developments puts pressure on local towns, for example its medical services - but they derive few of the benefits because most of the workers don’t live locally and they don’t spend locally. They take their fat pay packets back home, which might be Brisbane, the Sunshine Coast, Sydney or Perth.</p>
<p class="Body">So the core message is that there will be no property boom, if and when Adani eventually does go ahead with its mega project.</p>
<p class="Body">And, in terms of jobs for locals – there will be few, if any.</p>
<p class="Body"><em>Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a></em></p>
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No property boom from Queensland's latest FIFO mining project: Terry Ryder 

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<p>Childcare centres were much in demand at Burgess Rawson's 103 portfolio auction in Sydney on Tuesday, with all the four on offer being snapped up by investors.</p>
<p>Hubba Bubba Child Care at <a href="https://www.burgessrawson.com.au/buying/NSW/North-Shore-~-Lower/Chatswood/Office/2P1153#.Vv2x_GR946U" target="_blank">204 Mowbray Road</a> in Sydney's Chatswood, which had received 185 enquiries prior as reported by Property Observer, sold for $2.41 million on a record low yield of 3.9 percent to a local investor.</p>
<p><span>The 26-place childcare centre with 100 percent occupancy earns a net of $94,000 pa plus GST. </span></p>
<p><span>The portfolio auction of 19 properties generated more than $35 million in sales, according to the Australian Financial Review.</span></p>
<p><span>Burgess Rawson director Dean Venturato said the Chatswood childcare centre sale was the clear standout result.</span></p>
<p><span>"We've sold over 120 childcare centres over the last two years and it's the first time we've sold one on sub-4 percent yield," he was quoted as telling AFR.</span></p>
<p><span style="line-height: 1.3em;"> </span></p>
<p><span style="line-height: 1.3em;">Another childcare centre, at <a href="https://www.burgessrawson.com.au/buying/NSW/Northern-Beaches/Freshwater/MedicalorConsulting/2P1163#.Vv2042R946U" target="_blank">10/4-8 Waine Street, Freshwater</a>, sold on a 6.1 percent yield. This one has </span><span style="line-height: 1.3em;">80 places with 100 percent vacancy and a waiting list.</span></p>
<div><span> </span></div>
<div><span>The Prairewood centre at <a href="https://www.burgessrawson.com.au/buying/NSW/Western-Sydney/Prairiewood/MedicalorConsulting/3P1258#.Vv2222R946U" target="_blank">6 Pierce Close</a>, in the outer west, sold on a 5.1 percent yield.</span></div>
<p><span> </span></p>
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Childcare centres ripe for Burgess Rawson's 103 portfolio auction

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<p><span>Retail vacancy in Melbourne's</span><span style="line-height: 1.3em;"> CBD Core and Swanston Walk retail precinct was 2.6 percent in March 2016, lower than the 3.8 percent recorded a year ago according to Savills. </span></p>
<p><span style="line-height: 1.3em;">The latest Melbourne retail market update from Savills found vacant space is tight in the arcades and laneways with only three of the 181 shops currently available for lease. It said street front shops had the highest vacancy rate with seven of the 247 shops vacant, followed by Shopping Centres with 19 of the 704 shops available for lease.</span></p>
<p><span style="line-height: 1.3em;">"Vacancy in the Street Front and Shopping Centres was largely driven by shops in secondary locations," the report noted.</span></p>
<p><span style="line-height: 1.3em;">"Prime retail locations are taken-up as soon as they become available. For example, Sketchers will be launching their flagship store at 106 Elizabeth Street, a backfill space vacated by Cotton On."</span></p>
<p><a href="/images/2016/04/5/Screen%20Shot%202016-04-05%20at%204.18.29%20PM.png" target="_blank"><span>Click to enlarge</span></a></p>
<p><span><img src="/images/2016/04/5/Screen%20Shot%202016-04-05%20at%204.18.29%20PM.png" alt=""></span></p>
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March retail vacancy in Melbourne's CBD, Swanston Walk at 2.6 percent

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<p>Swedish fashion giant H&amp;M will open its next Australian store at Broadway Sydney in spring in the revamped Level 2 precinct.</p>
<p>Broadway <span style="line-height: 1.3em;">owners, Mirvac Group and Perron Group today said the redevelopment includes a 3,400 square metre expansion to increase the food and fashion retail offering to approximately 31 retailers.</span></p>
<p><span style="line-height: 1.3em;">Mirvac senior retail development manager Christina Nelson, said by bringing more prestigious retail options to the inner west, we’re giving locals the opportunity to shop for everything they need without having to venture into the city</span></p>
<p><span style="line-height: 1.3em;">“H&amp;M is the perfect addition to our current offering, which includes everything from Apple Store, JB-Hi Fi, Nike, Kmart and Target to Coles, ALDI, Hoyts and Rebel.”</span></p>
<p><span style="line-height: 1.3em;">H&amp;M is known for its collaborations with celebrated designers such as Karl Lagerfield, Stella McCartney, Jimmy Choo and Madonna.  </span></p>
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Swedish fashion giant H&M set for Broadway Sydney

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<p>GUEST OBSERVER</p>
<p>With low interest rates, combined with strong house prices and tighter residential investor lending conditions, lenders are urging investors to consider adding a commercial property to their real estate portfolios<strong>.</strong></p>
<p>If you’re new to commercial real estate, the good news is that you can still rent out the property just like a house or apartment. And better still, you receive a rental income in return. In fact, as a general rule of thumb, the rental yields for commercial property investments may vary between 6 percent and 12 percent.</p>
<p>This wide variation can be attributed to whether it’s a retail, industrial or office space, the build quality and location of the asset, its environmental rating and so on.</p>
<p>Other important differences with residential real estate include the fact the tenant of a commercial property is called a “lessee”<a href="https://www.investopedia.com/terms/l/lessee.asp">,</a> and the leases generally run for longer periods of time – usually several years. The trouble is that when a commercial lessee decides to move on, finding a replacement business to take up the lease can be a little more time-consuming than finding a residential tenant.</p>
<p>Also, Goods and Services Tax (GST) applies to a commercial property. If you buy a commercial premises, such as a shop or factory, you may be eligible to claim a credit for the GST included in the purchase price.</p>
<p>You may also be able to claim GST on other expenses that relate to buying the property – such as the GST included in solicitors’ fees and ongoing running expenses, according to Australian Taxation Office. So be sure to keep your records and paperwork up to date.</p>
<p>In addition, any commercial properties used in the running of a business are subject to capital gains tax (CGT). You’re also generally liable for GST on the sale price and can claim GST credits on related purchases.</p>
<p><em><span>Angus Raine is executive chairman, <a href="https://www.raineandhorne.com.au/" target="_blank">Raine &amp; Horne</a>.</span></em></p>
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What is involved in investing in a commercial property? Angus Raine

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<p>Minister for Family and Community Services and Social Housing Brad Hazzard <span style="line-height: 1.3em;">and the Lord Mayor of Sydney, Clover Moore, officially opened the latest development by </span><span style="line-height: 1.3em;">City West Housing, The Exordium Apartments at Zetland.</span></p>
<p><span style="line-height: 1.3em;">Exordium Apartments at Zetland is a $41m development comprising 104 </span><span style="line-height: 1.3em;">contemporary one, two and three bedroom units geared toward </span>affordability<span style="line-height: 1.3em;"> for city workers.</span></p>
<p>Janelle Goulding, CEO of City West Housing said the vision for the development <span style="line-height: 1.3em;">was to create a high quality and sophisticated contemporary building and </span><span style="line-height: 1.3em;"> provides a mix of residential </span><span style="line-height: 1.3em;">dwellings to help support the ever increasing demand for affordable rental accommodation.</span></p>
<p>It will feature communal gardens and BBQ areas, a small cafe and a single <span style="line-height: 1.3em;">level basement with parking for 40 cars and ample bicycle storage.</span></p>
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