Longstanding Gold Coast and Canberra developer <a href="https://www.apartments.com.au/developers/morris-property-group">Morris Property Group</a> is continuing to roll on with its Glitter Strip apartment pipeline, seeking to return to Mermaid Beach with a new 68-apartment development.

Morris, founded by Barry Morris in 1978 and one of the Gold Coast’s most prolific apartment developers over the past two decades, has filed plans for a 12-storey mixed-use building at <a href="https://www.apartments.com.au/new-apartments/36-seabeach-avenue-mermaid-beach-qld-4218">34-36 Seabeach Avenue</a>, on the prized eastern side of the Gold Coast Highway.

The 1,227 sqm site occupies a prominent corner position at Seabeach Avenue and the Gold Coast Highway, opposite the Mermaid Plaza retail and office precinct and around 140 metres walking distance from the future Mermaid Beach South light rail station.

<a href="https://www.apartments.com.au/architects/fraser-partners-0">Fraser &amp; Partners</a> has designed the project, which will comprise 68 apartments across a mix of 48 two-bedroom and 20 three-bedroom residences.

The building will rise 12 storeys, reaching a maximum height of 36 metres, with the apartments accounting for a total of 156 bedrooms. The development application also seeks approval for short-term accommodation across the 68 apartments, while two office tenancies are proposed at ground level.

The plans show 108 car spaces across the development, with parking accommodated at ground level and within a three-level basement accessed from Seabeach Avenue.

<img alt="Seabeach Avenue and the Gold Coast Highway" data-entity-type="file" data-entity-uuid="c2175c99-12fd-4a3c-9be1-89bbf258a90d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-20%20at%202.59.41%E2%80%AFPM_0.png?VersionId=iNLzWcE6gaAE76rafhEXfHve.4g4Se0p" />

Resident amenity will be concentrated on level two, where Fraser &amp; Partners has designed a recreation deck with a swimming pool, 90 sqm pool terrace, outdoor barbecue area and gym.

The broader communal offering will also incorporate landscaped spaces, with the planning documents noting the amenity has been designed to provide areas for recreation, social interaction and outdoor living.

The proposal would continue the transformation of the Gold Coast Highway corridor through Mermaid Beach ahead of the arrival of the light rail.

The site is zoned Neighbourhood Centre and sits within the Mermaid Beach/Broadbeach Light Rail Corridor neighbourhood plan. While the prescribed building height is 24 metres, the site is identified within an Urban Neighbourhood context providing for a 50 per cent height uplift to 36 metres.

Planning documents describe the stretch of the Gold Coast Highway between Broadbeach and Nobby Beach as increasingly characterised by medium and high-rise development, with the proposed Morris tower joining projects including Ventura, The Alfred, Oceans and Otto.

<img alt="Seabeach Avenue and the Gold Coast Highway" data-entity-type="file" data-entity-uuid="911f193f-e381-4a55-be08-58be87fcf978" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-20%20at%202.59.48%E2%80%AFPM.png?VersionId=oxVvLJaY.SOXEdXrIcogfyEXDfvCmmpM" />

The development would mark Morris Property Group's latest investment in Mermaid Beach, where it has already delivered two apartment projects.

Otto, at 1 Bondi Avenue on the western side of the Gold Coast Highway, comprises 70 apartments across nine storeys. The project was completed in 2019 and includes a residents' gym, recreation deck and swimming pool.

Morris also developed Oceans at 46 Ocean Street, a nine-storey, 70-apartment build-to-rent development completed in 2019. Oceans was the group's first build-to-rent project and incorporates commercial space at ground level.

The two existing Morris projects sit further north along the same Gold Coast Highway corridor as the proposed Seabeach Avenue development. Fraser &amp; Partners' planning analysis specifically identifies both Otto and Oceans among the established built-form precedents surrounding the site.

<img alt="Seabeach Avenue and the Gold Coast Highway" data-entity-type="file" data-entity-uuid="14925119-7b71-4812-8149-340317512c7c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-20%20at%203.00.15%E2%80%AFPM.png?VersionId=aEJqYuw_nTCjcin17BSD0piB1EFotTlj" />

Mermaid Beach represents only part of Morris' considerable Gold Coast footprint.

The family-owned developer has been particularly active in neighbouring Broadbeach, delivering projects including Sierra Grand, Eclipse, Synergy, Qube, Koko, Opus and Malo, while its current pipeline includes Maison and the two-tower Crest development.

Further south, Morris has also developed a string of projects in Burleigh Heads, including Element, Boardwalk and Sandbar, while Essentia expanded its footprint north into Surfers Paradise.

The Seabeach Avenue application has been lodged by PMM Broadbeach Pty Ltd and seeks a development permit for a Material Change of Use for multiple dwellings, short-term accommodation and office uses. Zone Planning Group prepared the planning application, with Fraser &amp; Partners commissioned as architect.

The project comes as the developer continues to expand its Gold Coast pipeline while retaining a significant presence in Canberra. Morris now has more than $2.5 billion of development in its national pipeline and has delivered more than 7,000 homes during its near five-decade history

Joel Robinson

First look: Morris Property Group returns to Mermaid Beach with new Seabeach Avenue apartment development

<a data-saferedirecturl="https://www.google.com/url?q=https://www.apartments.com.au/developers/fortis&amp;source=gmail&amp;ust=1787272340808000&amp;usg=AOvVaw3hvFB2uWTRfEyEcpTSnnK9" href="https://www.apartments.com.au/developers/fortis" target="_blank">Fortis</a>&nbsp;is continuing its stronghold on Sydn​ey’s eastern suburbs apartment market, launching&nbsp;in September&nbsp;its latest boutique&nbsp;<a data-saferedirecturl="https://www.google.com/url?q=https://www.apartments.com.au/developments/double-bay-nsw-2028&amp;source=gmail&amp;ust=1787272340808000&amp;usg=AOvVaw0GI5S9-wNeiLUnM-d1uYkw" href="https://www.apartments.com.au/developments/double-bay-nsw-2028" target="_blank">Double Bay</a>&nbsp;development,&nbsp;<a data-saferedirecturl="https://www.google.com/url?q=https://www.apartments.com.au/new-apartments/55-william-double-bay-55-william-street-double-bay-nsw-2028&amp;source=gmail&amp;ust=1787272340808000&amp;usg=AOvVaw2YNouJQcFjiTTgVHbgDLA-" href="https://www.apartments.com.au/new-apartments/55-william-double-bay-55-william-street-double-bay-nsw-2028" target="_blank">55 William</a>.

55 William presents&nbsp;just eight north-facing&nbsp;two-bedroom, three-bedroom and full-floor&nbsp;residences to the market, priced from $4.5 million.

The upcoming launch comes just weeks after Fortis secured approval for the $80 million development, its third eastern suburbs approval in two months. Construction is already underway, with completion targeted for 2028.

[smartcode_project:default project_id=152579 project_image_fid=376250]

55 William adds to a growing concentration of Fortis projects in and around Double Bay, a market the developer has become increasingly active in over recent years.

Fortis previously completed the nine-residence Marmont on New South Head Road, while it is currently developing a mixed-use residential and retail project at 12 Cross Street. Its wider Double Bay footprint also extends into commercial and retail development.

The developer's broader Sydney residential pipeline is particularly concentrated across the eastern suburbs, with projects spanning Doub​le Bay, Ro​se Bay, Wo​ollahra, Dar​ling Point, Poi​nt Piper and Eli​zabeth Bay.

[smartcode_project:default project_id=152579 project_image_fid=376253]

At 55 William, Fortis has again turned to MHN Design Union, the architecture practice behind several of its eastern suburbs projects, while London-based 1508 London has been appointed to handle the interiors and Wyer &amp; Co the landscaping.

The six-level building will comprise a combination of two and three-bedroom apartments, including a garden residence, full-floor apartments, a sub-penthouse and penthouse. Each residence will have secure basement parking and private outdoor space.

A rooftop terrace for all residents, along with select apartments, enjoys views across Double Bay Harbour and toward the Sydney skyline.

Ceiling heights will reach up to three metres&nbsp;in select residences, while the kitchens will feature natural stone and integrated Gaggenau appliances.

&nbsp;

&nbsp;

The boutique nature of the project reflects the type of stock Fortis has increasingly targeted across Sydney's eastern suburbs, where larger apartments and smaller buildings are being pitched primarily toward local owner-occupiers and downsizers.

Fortis Group General Manager Ed Eve said the developer continues to see demand from buyers wanting to remain in the eastern suburbs but move into newer, lower-maintenance housing.

“We're seeing continued demand from local owner-occupiers and downsizers looking for high-quality homes that allow them to remain in the eastern suburbs, close to the lifestyle and community they know,” Eve said.

55 William is also one of the early projects to respond directly to the NSW Government's Low and Mid-Rise Housing reforms. Fortis had previously secured approval for just two townhouses on the 599 sqm site before revising the scheme to eight apartments following the planning changes.

Situated one street back from Double Bay's water's edge, the project enjoys an enviable harbourside setting within walking distance of Double Bay Village and the ferry wharf.

[smartcode_project:default project_id=152579 project_image_fid=376252]

Fortis has increasingly made the eastern suburbs a major focus of its Sydney pipeline. Beyond Double Bay, it recently completed the 14-residence Piper in Point Piper and has projects underway or planned across Rose Bay, Woollahra and Darling Point.

The developer recently secured approval for Verano in Rose Bay, a six-level development comprising 21 two, three and four-bedroom apartments, also designed by MHNDU.

55 William&nbsp;is soon to be release to the market with VIP appointments commencing early September,&nbsp;with residences priced from $4.5 million.

[smartcode_project_cta:default project_id=152579]

Fortis continues eastern suburbs push with 55 William launch

UAE-based developer Arada has unveiled plans for a $2 billion twin-tower apartment development in Broadbeach, marking its first move into Queensland as it continues its rapid expansion across Australia.

Arada will develop 952 apartments across two towers on a prominent site opposite the Gold Coast Convention and Exhibition Centre, with the project targeted for completion ahead of the Brisbane 2032 Olympic and Paralympic Games.

The project represents Arada's largest commitment to the Australian market since arriving in the country in 2024 and significantly expands a local pipeline that has now grown to eight projects and more than 5,000 homes.

It will also be the first major Queensland project delivered by Roberts Co since the tier-one contractor was acquired by Arada Group in 2025.

Plus Studio has designed the Broadbeach development, which will comprise one, two and three-bedroom apartments across two towers connected by a landscaped podium.

A significant resident amenity offering will include lagoon and lap pools, a gym, sauna and steam room, alongside a mist room, infrared room and salt scrub facilities. Communal terraces, private dining areas, a library, residents' lounge and work-from-home spaces are also planned. Around 1,200 sqm of retail and hospitality space will occupy the ground floor.

The site puts Arada in one of the Gold Coast's most active apartment markets, directly opposite the convention centre and within walking distance of Pacific Fair, The Star Gold Coast and Broadbeach's dining and retail precinct.

It also has immediate access to the Gold Coast light rail network and sits just a few blocks from the beach.

Arada Group Chief Executive Ahmed Alkhoshaibi said Broadbeach represented an opportunity for the developer to expand beyond its initial NSW pipeline.

“Broadbeach is a world-class address that gives us the canvas to create a community of exceptional design and lifestyle quality that genuinely enriches the daily lives of the people who call it home,” Alkhoshaibi said.

“This is our first development outside New South Wales, and it reflects our growing ambition to grow in key urban markets around the country.”

Alkhoshaibi said bringing Roberts Co into the project would give Arada greater control over the development and construction process.

“Delivering this project through Roberts Co, our own tier-one construction business, means we can bring the quality, pace and accountability that our buyers expect.”

The move into Broadbeach comes as Arada accelerates its Australian expansion following its entry into the market two years ago. The developer has assembled a pipeline of eight projects comprising more than 5,000 homes, while the acquisition of Roberts Co last year gave the group its own Australian construction capability.

Globally, Arada has a development portfolio valued at $50 billion comprising more than 55,000 homes across the UAE, United Kingdom and Australia.

The Gold Coast is emerging as the next major market for the developer, with strong population growth and infrastructure spending ahead of the 2032 Games continuing to underpin significant apartment development across the coastal strip.

Arada plots $2 billion Broadbeach towers in major Queensland move

Sydney’s downsizer market is changing, with a growing cohort of buyers prioritising the right home over simply finding a smaller one.

Coronation Property Head of Sales Cam Porter says the traditional idea of downsizing does not necessarily reflect what many buyers are now looking for, particularly those moving from established family homes across Sydney.

Instead, he says they are increasingly becoming “right-sizers”, seeking lower-maintenance homes without sacrificing the space, amenity or quality they have become accustomed to.

“We are increasingly seeing buyers who are not motivated by the idea of simply moving into a smaller property,” Porter says.

“They are right-sizers. They want a home that is easier to manage and better connected, but they still expect generosity, quality and a floorplan that supports the way they live.”

It is a subtle but important distinction in a market where apartment developers are increasingly targeting established owner-occupiers.

[smartcode_project:default project_id=135149 project_image_fid=377495]

For many of these buyers, moving from a house to an apartment is not driven by a desire to dramatically reduce their living space. Instead, the appeal is in removing some of the maintenance associated with a larger home while retaining generous living areas, storage and enough flexibility to accommodate family and friends.

Coronation’s sales team is seeing buyers place particular importance on natural light, practical storage and additional rooms that can be used as guest bedrooms, home offices or secondary living spaces.

Kitchens and dining areas are also playing an increasingly important role, particularly for buyers who regularly entertain or have children and grandchildren visit.

[smartcode_project:default project_id=135149 project_image_fid=377494]

“These buyers still want their home to feel generous,” Porter says.

“They may want less maintenance, but they are not looking for less life.”

The challenge for the broader housing market is providing enough of the right stock to encourage that move.

While much of the discussion around Sydney’s housing shortage has centred on the number of homes being delivered, Porter says the diversity of those homes is equally important.

Older homeowners can remain in large family houses for longer when they cannot find an appropriate alternative in the neighbourhoods where they have built their lives.

“The decision is rarely as simple as wanting fewer bedrooms,” Porter says.

“People are weighing up their connection to a neighbourhood, the space they need for family, the quality of the home and whether it will continue to work for them over the long term.”

It also has implications beyond the downsizer market. Providing suitable apartments for smaller households can free up established houses for families who need the additional bedrooms and land, creating greater movement through the housing market.

<h2>Lillian targets the next stage of apartment buyer</h2>

It is a buyer Coronation is targeting at <a href="https://www.apartments.com.au/new-apartments/lillian-erskineville-9-metters-street-erskineville-nsw-2043">Lillian</a>, its new collection of apartments, terraces and penthouses at Erskineville Village.

Designed by Silvester Fuller, Lillian has been shaped around larger living spaces, natural light and flexible floorplans, alongside landscaped areas, wellness amenity and communal spaces for residents.

The development will form part of Coronation’s broader Erskineville Village precinct, which will combine new homes with green space, retail, hospitality and new pedestrian connections.

[smartcode_project:default project_id=135149 project_image_fid=377688]

McPherson Park will sit at the centre of the precinct, creating a significant new green space alongside the project’s retail and hospitality offering.

For Porter, the opportunity is to give buyers another housing option without forcing them to leave the part of Sydney they already know.

“People should be able to change the type of home they live in without having to change their entire life,” he says.

“For many buyers, Lillian offers the opportunity to remain connected to the Inner West and the city, while gaining access to a more convenient, walkable and considered way of living.”

[smartcode_project:default project_id=135149 project_image_fid=377687]

Coronation will explore the changing <a href="https://lillianresidences.com.au/news/lillian-x-space-x-downsizers-event-27-august/">right-sizer market at an event on August 27</a>, bringing together experts across property, design and lifestyle.

Held in partnership with SPACE, Poliform and Downsizer.com.au, the event will include a property market outlook from economist Michael Blythe alongside discussion around the considerations facing buyers planning their next move.

Attendees will also be able to learn more about the residences and amenity planned at Lillian Erskineville.

[smartcode_project_cta:default project_id=135149]

From downsizing to right-sizing: What Sydney buyers want from their next home

Family-owned builder and developer <a href="https://www.apartments.com.au/developers/omaya">Omaya</a> is bringing its 27-storey The Maybelle development to market, with the 229-apartment tower rising alongside Ismay Reserve near North Strathfield.

<a href="https://www.apartments.com.au/new-apartments/the-maybelle-21-parramatta-road-homebush-nsw-2140">The Maybelle</a> will comprise one, two and three-bedroom apartments, with its height providing elevated outlooks towards the Sydney skyline and Harbour Bridge, while other residences will look across neighbouring Ismay Reserve.

Designed by <a href="https://www.apartments.com.au/architects/squillace-architects">Squillace Architects</a>, the tower combines its parkside setting with proximity to the established retail, dining and transport amenity around North Strathfield.

[smartcode_project:default project_id=134873 project_image_fid=376196]

Residences will feature open-plan living spaces and a choice of two interior schemes, while communal amenity is spread across two elevated levels of the building.

Level 8 will be home to the Garden Pavilion, a full-floor resident space incorporating communal entertaining and breakout areas, seating and recreation spaces. Further up the tower, a landscaped Sky Terrace on Level 14 will provide another communal area with panoramic views towards the Harbour Bridge and Sydney skyline.

At ground level, the development sits directly alongside Ismay Reserve, where lawns, walking paths, children's play areas, picnic spaces and recreational facilities extend the green space available immediately around the project.

[smartcode_project:default project_id=134873 project_image_fid=376194]

The Maybelle is also within walking distance of North Strathfield and the Bakehouse Quarter, which provides a mix of cafés, restaurants, shops and everyday services.

Existing rail and bus services provide connections across Sydney, while the future North Strathfield Metro and access to the M4 will add to the transport options available around the precinct. Walking and cycling routes also extend via Powells Creek towards Sydney Olympic Park and its sporting, entertainment and parkland precincts.

Families are also well positioned for access to a broad selection of established schools and education options across Strathfield and the surrounding Inner West.

[smartcode_project:default project_id=134873 project_image_fid=376181]

Omaya has operated in Sydney for more than 35 years, managing projects from acquisition and design through to construction and delivery. The family-owned company is both developer and builder of The Maybelle.

Apartments start from $560,000, with the development protected by 10-year Latent Defects Insurance.

Construction is well underway, with completion expected by the end of 2026 and move-in anticipated from Q1 2027.

[smartcode_project_cta:default project_id=134873]

The Maybelle brings 27-storey parkside tower to market near North Strathfield

Prominent New Zealand apartment and hotel operator, <a href="/developers/safari-group">Safari Group</a>, is offering up a prime investment opportunity for Australians to purchase off the plan in one of the world’s most popular ski destinations.

They recently took to market Mountain Oak Queenstown Apartments, in the growing precinct of Remarkables Park in Frankton, near the airport and at the foot of The Remarkables - the mountain range the locals like to call “The Remarks”.&nbsp;

Sydney investors have shown interest in the one, two and three-bedroom apartments that secure high-season occupancy six months over the year, primarily over summer and winter months.

They average 90 per cent occupancy across their portfolio over January, February, March, August, November and December, while shoulder season months of April, July, September and October are still occupied 70 per cent of the time, with the growing appeal of Queenstown becoming not just a hotspot for the snow, but a lifestyle destination.

Even in the low seasons of May and June, occupancy levels reach around 40 per cent.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Ext_Cam15_Sunny.jpg?VersionId=SJAROUM_1s.Tr5ciMk4EEj5oAt_Vewmv" />

Safari’s Safari Hotels arm can also manage the holiday letting for an investor, from the listing on holiday accommodation websites such as Airbnb and Booking.com to the cleaning and maintenance of the investment. They’ve been in the short stay management business for 15 years and offer 24/7 support for investors, an important convenience benefit for any overseas investor

Another major drawcard for Australians is that New Zealand doesn’t have a stamp duty policy - so the entry price of NZ$639,000 (AU$586,000), is all that is payable on completion.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/313_Livingv2_WEB.jpg?VersionId=nV229fM0ZeYpoxOrX372HyGjfwY_LR8c" />

Safari is starting construction of the 141 apartments in Q2 this year, with a two-year build estimated to complete in mid-to-late 2027.<img alt="" data-entity-type="" data-entity-uuid="" height="15" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXczFpFAb7WuA6f4f9TtKWcqXyNwR8qqtakWv352ERkpqNlP3KwIo8YKxw67jZNHfpjEGIZGv5MQTbnvLZwNt8iu9IVdOrswOjCvBZ4zhSoOOLrpt6etVEZTN1gkBho0r_R72zdHNA?key=yq3daOanqHSb88QFd8jGYKdb" title="Click and drag to move" width="15" />​

The apartments will feature modern amenities and contemporary designs with expansive windows capturing sweeping views of The Remarkables mountain range.&nbsp;

Interiors are equipped with modern finishes, premium appliances, and secure electronic key-locked doors, ensuring a comfortable living experience for residents and guests alike.

With its strategic location near Coronet Peak and Cardrona Alpine Resort, as well as key retail and dining precincts such as Market Street, Five Mile Shopping Centre, and Remarkables Market, Mountain Oak offers a strong proposition for investors seeking high rental yields and capital appreciation in one of New Zealand’s most sought-after locations.&nbsp;

Queenstown’s sustained demand for visitor accommodation and rental properties is underpinned by a shortage of housing options, attracting both local and international buyers.

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

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Despite a falling auction clearance rate, the volume of auctions being held across the combined capital cities and in particular, Melbourne, is rising.
Last week, the final auction clearance rate fell to 67.4% across 2,858 capital city auctions, while this week CoreLogic RP Data is expecting there to be just over 3,000 auctions held across the combined capital cities.
Melbourne will be the busiest city by far this week, with 1,710 auctions expected, indicating the busiest week for the city this year, but the auction market won’t be as busy as it was at the same time last year, when over the week 1,837 Melbourne homes were taken under the hammer. Last week, Melbourne was the strongest performing capital city market with both the highest volume of auctions (1,398) and the highest clearance rate (72.7%).
Notably, Melbourne’s auction performance last week was much stronger than Sydney, with the city recording its lowest clearance rate since early 2013 at 63.7%, representing a substantial fall from the previous week (69.6%). This week, Sydney is expecting 996 auctions to be held, relatively similar to last year when 961 Sydney homes were auctioned.
Auction markets will be busier in Brisbane (213), Adelaide (109) and Perth (35) this week compared to last week when 145, 93 and 16 auctions were held respectively. Canberra’s auction market activity will slow down this week, with 60 auctions expected, compared to 86 the previous week.
This week, the busiest individual suburbs for auctions are all in Victoria:
– Glen Waverley (30 auctions)
– Reservoir (23 auctions)
– Mount Waverley (22 auctions)
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Clearance rate falling, auction activity rising: CoreLogic RP Data's Shana Miller

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A private developer from Beijing has purchased an approved site for a 12-level mixed use building for $15.5 million from Sen Yuan Development.
The building at 139-145 Parramatta Road, Homebush can house 80 residential apartments and six ground floor shops.  
It is a high-density mixed use development site spanning 2,330 square metres with 118 car spaces. 
There is development application approval for 6,874 square metres of total gross floor area. The holding has a two-storey brick showroom, a single-storey car workshop and shed structures. 
The property was sold through Dominic Ong of Knight Frank.
“The offshore developer saw this as a prime investment for Sydney's growing population and chose this site in part due to the currently strong residential market and also because the site is DA approved; so there is no planning risk and pre-sales can commence immediately,” said Dominic Ong, Knight Frank’s senior director, head of Asian markets, capital markets.
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Chinese developer buys mixed use Homebush site for $15.5 million

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A $325 million project comprising a five-star hotel and an apartment tower has received approval from Brisbane City Council.
Christened Mary Lane, the project will be developed by Mary 111 Pty Ltd - associated with local businessman Sam Chong.
Set at 111 Mary Street in Brisbane's CBD, the project has been designed by <a href="https://www.woodsbagot.com" target="_blank">Woods Bagot</a>.
“The combination of a five-star hotel, luxury residences and dining precinct is popular in cities such as Singapore, Hong Kong and New York but until now has not been seen in Australia on this scale,” said Ian Pert, development manager of GMP Management.
The approval is for 286 hotel rooms and 167 residences, however, the developer has since lodged an amendment which will retain the current building form but increase the residences to 184. 
Mary Lane will comprise a mix of one-, two- and three- bedroom units as well as some penthouses.
The developer will retain the building’s 400 square metre retail space which will include a café, restaurants and bar.
Construction of the tower is set to begin in early 2016 and an agreement with a international hotel operator is in its final stages.
The residences will be marketed by Colliers International.
Brisbane-based Chong also owns the neighbouring Four Points by Sheraton.
 
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Brisbane council approves $325 million inner city tower and hotel 

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It's pretty much a given that if you are developing property, then you will encounter problems.
Over time, I've learnt how to deal with these fun little things that crop up. They used to stress me out and ruin my day, I found myself naturally wanting to jump into action to solve the problem as quickly as possible.
But I've learnt over time to sit with it.
Mulling the problem over from different angles allows other options to come up. This process doesn't need too much time, but sometime it needs a different perspective.
One problem-solving technique you should master as a property developer  is changing perspectives to redefine the problem.
Here's an example.
We received our builder's quote on a multi unit development project and it came in a bit higher than we estimated.
Our client had requested some specific detail in the exterior design that had an impact on the cost that posed risk of over capitalising.
Rather than do the obvious which would be to pare back the design and remove the expensive items, I sat with the issue for a day. We were looking at it from two clear perspectives; cost and design. But were there other perspectives to consider? Yes.
Another perspective I looked at was yield or return. Was the design items going to impact on the end use? Who was the end user?
In this case, it was a tenant because our client was building to hold and lease. One of our goals was to optimise the rental return. Would the upgrade bring in more rent? To be honest, no. The upgrade may make the dwelling a little more appealing but the bottom line was it wouldn't increase the yield.
Another important perspective for Property Bloom was to make our client happy. Whilst our job is to ensure the most efficient outcome, we also want our clients to feel they've participated in the process, if that is important to them - it may not be to some clients but it is to others.
 Our solution was to look at other areas of the development that we could save costs on. We were able to simplify the roof design without any considerable difference in appearance and no difference in function. So the cost savings in the roof trusses and materials allowed us to spend on the upgrades our client really wanted.
Our solution to the problem didn't compromise the project but in fact, enhanced it.
A little perspective can go a long way. 
 
Jo Chivers is chief executive officer of property development project managers <a href="https://www.propertybloom.com.au/about" target="_blank">Property Bloom</a>.
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Solving a property development problem using perspective: Jo Chivers

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Media coverage of the Westpac decision to lift mortgage rates 0.2 percentage points has been typically sub-standard.
Many articles, inspired by economists suffering from limelight deficit syndrome, have portrayed this as a death knell for property markets.
As someone who has studied the relationship between interest rates and price movements, I can tell you that this is a not a reasonable conclusion.
Economists and journalists, with their simplistic thought processes, tend to believe that low interest rates = property boom, and rising interest rates = property decline. This contradicts both common sense and historical precedent.
Falling interest rates usually coincide with subdued property markets. The RBA cuts interest rates when the economy is struggling, consumer confidence is low and unemployment is rising – i.e. conditions which are least likely to produce property booms.
This is why most of Australia does not have booming property markets. Only Sydney, which is the centre of the one economy (NSW) that is really pumping, has had a boom. Melbourne, the capital of a state with an okay economy, has displayed some buoyancy but nothing approaching the dizzy heights of Sydney. 
Most of the state and territories have struggling economies and their capital city property markets – Perth, Hobart, Canberra, Darwin, Adelaide – have been stuck in neutral or reverse. Years of very low interest rates have been utterly irrelevant in all of these places.
Regional Australia is dotted with markets that have dropped sharply and others that have gone nowhere in terms of price movements. The exceptions are relatively few and most of them are located amid that one strong state economy, New South Wales. 
The bottom line is that interest rates usually are irrelevant. Economists appear to think they’re the only thing that matters and the sole determinant of outcomes in real estate. In truth, they have little or no bearing. 
Other factors have much greater influence. Sydney had its boom because a change of State Government in 2011 returned sanity and competence to governance, the economy started pumping again and infrastructure spending was revitalised. Money started circulating, businesses started spending, consumers started feeling good about things and the property market, which had been largely dormant for a decade, burst to life.
It would have happened whether the official interest rate was 2%, 4% or 6%.
Conversely, interest rates are most likely to be rising when the national economy is strong, with lots of jobs being created, confidence high and businesses spending big. These are the conditions that drive property booms – and the RBA will lift interest rates to dampen things down. 
Often it requires a long period of multiple rises to quell the buoyancy. Therefore, genuine national property booms – unlike what we have at the moment - usually coincide with periods of high or rising rates.
In the late 1980s, interest rates were lifted repeatedly without dampening the boom - and mortgage rates went as high as 17% before the bull run ended.
To suggest that a 0.2 percentage point rise by one lender will kill the (Sydney) boom shows a low level of understanding.
The reality is that the one major boom in the nation, Sydney’s, has been slowly deflating since the start of the year. APRA didn’t need to take action because the market was taking care of the situation without any interference from self-important bureaucrats.
And Westpac’s tiny nudge to interest rates will have no bearing on the situation.
 
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>
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Interest rates usually are irrelevant: Terry Ryder

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It has been interesting to track economic data over the past few years, watching the Sydney economy outperform across most metrics.
Small wonder that the Sydney housing market has also forged ahead so strongly since 2008.
The New South Wales economy is powering Australia's economic growth, with ANZ's stateometer now showing the Premier State both above trend and accelerating across a range of economic indicators, from labour market conditions to house prices.
<a href="/images/2015/10/22/NSW.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/10/22/NSW.jpg" alt="">
 
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>. 
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>.
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NSW above trend and accelerating: Pete Wargent

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GUEST OBSERVER
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Changing occupier requirements are the main driver behind the growing sophistication of industrial property. Warehousing has historically been one of the more passive property types however growth in eCommerce and the globalisation of logistics have driven innovative changes to internal fit out requirements. This is leading to greater complexities for occupiers and developers. 
Distribution centres are now far more dynamic – goods are moving faster, higher clearances are required and there is greater demand for natural light and better performing slabs. Occupiers are changing with third party logistics (3PL) experiencing enormous growth and supermarket groups becoming more sophisticated in how they move goods through their distribution channels. Ecommerce providers frequently require specialist internal design and fit out of their warehouses. 
While change is occurring, there is still a wide variation in how occupiers are utilising their space. From highly automated picking systems requiring very little human interaction to boxes on the floor with paper based systems tracking stock levels, the evolution depends on the rate of change in the industry in which the occupier operates. 
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Change 1: eCommerce 
Growth in eCommerce 
More retail trade is moving to eCommerce, although it still remains relatively small compared to traditional bricks and mortar retailing. Although in recent months the weakening of the Australian dollar and the implementation of Goods and Services Tax (GST) on goods bought online from overseas has led to a slowing of eCommerce, it is forecast that for some product types, there will continue to be erosion of spending in traditional bricks and mortar retailing. 
The biggest challenge for eCommerce in Australia is the cost of getting goods from the warehouse to consumers. The vast distances that need to be covered and the insatiable demand from consumers to get goods quickly can make delivering goods particularly expensive. For many operators, rent on a warehouse is a secondary consideration compared to the cost of logistics. 
For traditional retailers with an eCommerce presence, the majority of purchases are still filled out of store. There are generally no specialist online warehouses or special systems developed within existing warehouses to fulfil orders. An exception to this is for particularly large items (e.g. fridges) that are delivered directly from a warehouse to customer rather than from a store when an online order is made. 
This is starting to change for larger retailers. Major supermarket chains previously filled online orders from a store hub but are now starting to use “dark supermarkets”; basically a supermarket in a warehouse, inaccessible to consumers, where staff fulfil online orders. The perishable nature of grocery items means that it is likely that these dark supermarkets will need to be located in each capital city, as opposed to just one location. 
For pure eCommerce groups, the way that they warehouse their goods and handle delivery depends on the type of product they sell, the size of the business and where they source their goods. For most groups, a 3PL service is utilised. The extent to which they use 3PL differs with some using them for delivery only, with others using them for the full end to end service. At its most complete level, 3PL can be used for an eCommerce provider to provide a service from when a consumer presses “buy” on an online site to delivery or even return if the item.
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For large groups selling non-perishable goods that can be delivered in a small parcel, having only one warehouse in Australia makes the most sense. The cost of delivering goods in Australia is generally not dependent on distance and the nature of eCommerce means that it is difficult to predict where the next order will come from. Most products are produced offshore and hence close proximity to a major port is also generally a requirement for occupiers. 
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Change 2: Globalisation of logistics 
Logistics has gone global and is becoming more complex and sophisticated in how it operates. There have been some major changes to ownership in the logistics industry. Toll Group has now become part of Japan Post, Australia Post is now the sole shareholder in Startrack and has been rapidly reinventing itself as a logistics service provider, while global giant Brookfield has made a takeover bid for Australian freight logistics company Asciano. 
These changes to ownership structure, as well as increased usage of 3PL services in Australia has meant enormous growth in the amount of industrial floor space these groups occupy, as well as significant investment in more sophisticated and automated warehousing facilities. The forecast growth these groups expect is also aggressive. Many of them are now looking to partner with developers of industrial facilities, particularly those with significant land holdings, to ensure that they are able to access a pipeline of development. 
A new term for very large warehouses has also emerged. Campus Style Distribution Centres are now a requirement for major groups such as DHL and CEVA, both of which are looking at distribution centres now in excess of 75,000sqm. This trend to larger facilities, able to handle greater quantities, is expected to continue to be a trend in global warehousing. In Asia, most cutting edge facilities are now at least 150,000sqm with the Interlink in Hong Kong comprising 213,000sqm and Logistic Republic – Taipei Park in Taipei expected to comprise 264,000sqm on completion. 
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Change 3: Design 
Who are the leaders in warehousing design? 
Historically warehouses have been relatively simple buildings and there was very little focus put on the internal fit out. This has changed and the most sophisticated warehouses now have slabs that can handle greater loads, larger cubic capacity and high bays. To enable the best use of this space, greater use of robotics and high-tech picking systems are being implemented. 
There is however still significant divergence from these highly advanced warehouses with more simplistic designs still commonly in use. At a broad level, it is primarily the large 3PL groups, as well as large supermarkets and fast moving consumer goods (FMCG) groups that are the most advanced. The scale required by these groups, as well as the speed required to move goods, makes significant investment in fit out worthwhile. They are looking to create improved efficiencies in better designed buildings. 
Another driver of greater cubic capacity, as well as high bays, is the location of the warehouse. In a market such as Melbourne where land availability remains abundant, it is unlikely there will be as much demand. This contrasts to Sydney where land costs are significantly higher. 
There is a greater focus on the indoor working environment of warehouses. This is to allow better working conditions for staff, but also better conditions for storing goods. Better ventilation, constant temperature and high security are a greater focus. The ability to operate the warehouse 24 hours a day is also frequently a greater consideration. 
Sustainability continues to play a role and more facilities are moving to a 6 Star Green Star rating. The focus is however less on committing to minimum targets but looking to achieve demonstrable cost efficiencies. Developers are looking to add value to occupiers and this can include offering such inclusions as power off facilities, advanced monitoring and geothermal generation. 
High tech retrieval systems start to make a mark 
There are still only a few occupiers that are using high tech retrieval systems. The capital costs are so high and hence this restricts investment for many occupiers. Spending on research and development of these systems is however continuing to increase and costs are expected to come down significantly over the next decade, to the extent that there will continue to be less people required to operate a warehouse. 
There is a range of how sophisticated occupiers are being in the use if retrieval systems. At the most advanced level, automated robotics have the ability to completely do away with forklifts however these are too expensive for most occupiers. Mobile automation appears to be having quicker take up. An example of this is mini forklifts that are able to operate on any surface. These forklifts are highly mobile, allow for higher stacking and provide the ability to pick one item, instead of taking a whole pallet. 
Nerida Conisbee is national director of research for Colliers International and can be contacted <a href="https://www.colliers.com/nerida.conisbee" target="_blank">here</a>.
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The rise of the robots? Colliers' Nerida Conisbee

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New research from Savills on the Adelaide office market has indicated premium CBD space is going for between $500sqm and $560sqm for gross face rent.
The South Australia Quarter Times, covering Q3 2015, also noted the typical lease term of such property was between seven and ten years.
<a href="/images/2015/10/21/Screen%20Shot%202015-10-21%20at%202.32.50%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/10/21/Screen%20Shot%202015-10-21%20at%202.32.50%20PM.png" alt="" width="808" height="531">
For more information, click <a href="https://www.savills.com.au" target="_blank">here</a>.
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Premium Adelaide CBD office space rentals fetch nearly $560sqm gross: Savills

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The Swan Brewery Industrial Estate in Perth's Canning Vale has achieved sales worth $70 million, with Stage 1 and 2 settlements now finalised.
Starting from August 2014, <a href="https://www.realcommercial.com.au/property-land+development-wa-canning+vale-501312419" target="_blank">55 lots totalling 14.7 hectares have been sold</a> through Raine &amp; Horne Commercial.
“The sale rates of Stages 1 and 2 reflect the strong demand for reasonably priced, well-located industrial land within Perth’s core 20 km inner transport ring,” said Raine &amp; Horne Commercial WA director and selling agent Anthony Vulinovich.
Buyers included industrial developers, owner-occupiers and investors, he added.
Canning Vale is one of Perth’s most desired industrial precincts to the city’s south and has excellent transport infrastructure.
The estate has been developed by Linc Property, Perth’s largest private developer of industrial lots.
Following the success of Stages 1 and 2, they are now going ahead with the release of Stage 3 into the market.
The 12 smaller lots range from 1,100 square metres to 4,000 square metres, while three range from 1.1 to 2.1 hectares." 
“We have already secured a number of sales off-market," Ben Lisle, director of Linc Property. “We expect strong interest from both developers and larger owner-occupiers looking to achieve a long-term position.”
Stage 3 civil works have started with titles expected at the start of 2016.
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Raine & Horne Commercial selling Perth industrial land on Swan Brewery estate

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Restauranteur Paul Mathis and business partner George Incretolli will open a new Supercharger Wholefood outlet at Prahran in Melbourne's inner eastern suburbs in a deal brokered by Savills Australia.
The 102-square metre outlet is on the ground floor of the Peregrine's Luxton Apartments at 22 Chatham Street within the Prahran Retail Hub.
Supercharger will take the tenancy on an eight-year lease from Peregrine Projects.
Listing agents Michael Di Carlo, Jeremy Marmur and Jock Thomson did not reveal the rental, but rates in the neighbourhood have been circa $850 per square metre.
Di Carlo said the new store, Supercharger's second Melbourne store, followed the opening of its first, in CFS Retail Trust's Emporium Melbourne on Lonsdale Street in the CBD.
“This new lease follows what a very successful debut for Supercharger at Emporium.
"Paul Mathis' vegan menu is also likely to be very welcome in Prahran, which boasts an eclectic mix of dining experiences and a population well attuned to the vegetarian offering,” Di Carlo said.
The new store is due to open soon.
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