Around 400 additional homes could be built at Southwark Grounds on Port Road, lifting total site capacity from 1300 to around 1700 dwellings.

A recently approved code amendment would allow apartment towers of up to 14 storeys in some areas of Renewal SA’s redevelopment of the former West End Brewery.

Renewal SA Acting Chief Executive Shane Wingard said he welcomed the code amendment, with the increase in heights and homes making a positive impact on the supply of high-quality, well-connected housing close to the city.

“By going higher across some parts of Southwark Grounds, we are adding a substantial number of very well-located homes with little impact on project delivery time or planned open space,” Mr Wingard said.

Since the project officially launched in 2025, Mr Wingard said more than 12,000 enquiries had been received about living at Southwark Grounds.

“The very strong early interest we’ve seen since homes were first released in the precinct reinforces our plans to create more housing opportunities,” he said.

The Southwark Grounds code amendment was launched in December last year, with community engagement undertaken over five weeks from January.

It proposed increasing maximum building heights from eight to 14 storeys on the eastern section of Southwark Grounds, and to 12 storeys across the remainder of the site, with minimum building heights ranging from two to four storeys.

The code amendment was implemented through an Early Commencement policy in late January, allowing developers to quickly explore the viability of increased height and housing yield while other planning processes continue.

One of the first developers delivering apartment sites have already finalised redesigns to increase the number of apartments following the code amendment.

Samaras’ development adjacent to the future Colonel Light Park is now planning to deliver 125 apartments across 11 storeys, significantly greater than original plans of around 50 apartments across four storeys.

The developer is also exploring the potential for additional affordable housing outcomes.

Most of the apartments at Southwark Grounds will be delivered within a master-planned precinct on a large parcel of land on the eastern portion of the site, covering around two-thirds of its 8.4 hectares.

Wingard said detailed precinct planning over the coming months may identify further opportunities to increase yield further that could see total apartment numbers at Southwark Grounds, exceed this number.

Affordable homes at Southwark Grounds will also see a net increase, with Renewal SA maintaining its commitment to a minimum of 20 per cent affordable housing across the development.

&nbsp;

&nbsp;

Civil works have begun across the site, with construction under way on the first new roads surrounding a townhouse precinct in the south‑west corner of Southwark Grounds. This includes Renewal SA’s 17 Founder’s Row homes, which are on track for completion by Christmas.

“We expect to have people living at Southwark Grounds by the end of the year, so delivering roads and public spaces for those residents is among our highest priorities.”

Construction of 40 townhouses off Anderson Street, known as West Village and being delivered by Contour, is forecast to begin in mid‑2026. Kolabb’s Anderson Lane development will follow shortly after, delivering a further 26 townhouses.

Southwark Grounds is a state government‑led urban renewal project now set to deliver around 1,700 homes over the next decade.

Homes will be supported by a supermarket, a range of retail and hospitality offerings anchored by a revitalised Walkerville Brew Tower, a childcare centre, car parking and well‑connected public spaces.

Joel Robinson

400 new homes planned for Adelaide's former West End Brewery site

Brisbane developer&nbsp;<a href="https://www.apartments.com.au/developers/cavcorp">Cavcorp</a> has lodged plans for a new mixed-use residential development at <a href="https://www.apartments.com.au/new-apartments/55-wyandra-street-teneriffe-qld-4005">55 Wyandra Street</a>, Teneriffe, anchored by an 85-metre public laneway designed to reconnect the suburb’s riverfront with the Gasworks precinct.

The buildings, known as Teneriffe House and Teneriffe Lane, would replace the existing Queensland Cotton head office site with a 15-storey residential tower transitioning to eight storeys toward Helen Street. The project has been designed by Plazibat Architects and lodged as a code assessable development application for 93 apartments across a 3,401 sqm mixed-use site within the Newstead and Teneriffe Waterfront neighbourhood plan.

Central to the scheme is the transformation of an existing service easement into a publicly accessible cross-block connection linking Wyandra and Helen Streets. Cavcorp says the new laneway will act as both a pedestrian shortcut and a landscaped civic space between the Teneriffe Riverwalk, ferry terminal, and Gasworks precinct.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="26e7f058-b065-4de8-b13d-a2b8cb64dfcc" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/bldg.png?VersionId=sELS0ZKYi361oYipUa1BIKfe_.DLZoFV" />

“The revised proposal delivers a legacy public-realm cross-block link, permanently secured for community use, transforming an existing private easement into a safe, high-quality pedestrian connection between the Teneriffe heritage riverwalk and the Gasworks–Long Island precinct,” the planning report states.

The laneway will sit beneath a large subtropical loggia integrated into the podium levels of the development. The design incorporates deep landscaping, water gardens, lobby spaces, business lounges, and ground-floor apartments to create what Cavcorp describes as a climate-responsive “urban verandah.”

The tower itself has been designed as a slender form with recessed floorplates and curved translucent corners inspired by contemporary Japanese architecture. The building height aligns with the Commercial Road precinct controls, which permit towers up to 15 storeys within proximity to Longland Street.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="a8a17d40-43b6-4718-b3fd-67676fcbb485" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers%202_1.png?VersionId=i3VwDtp5AmL_8InW7w4qRbDFEpb744Jt" />

The project will comprise a mix of larger-format apartments aimed at owner-occupiers, downsizers, and families. The proposed apartment mix includes 11 loggia apartments across the lower levels, 50 four-bedroom Sky-Terrace apartments from levels three to seven, and 32 Sky-Pool Homes occupying the upper tower levels. The Sky-Pool Homes will feature private thermal plunge pools integrated into oversized balconies.

According to the application, the apartments are intended to reinterpret the scale and character of Teneriffe’s woolstore conversions and Queensland homes within a vertical residential format.

“The sky-pool homes build on Cavcorp’s previous projects and introduce a distinct apartment typology to Teneriffe, informed by both local and international precedent and responding to an identified market demand for enhanced safety, space and amenity,” the planning submission notes.

A major focus of the proposal is its five-level wellness and lifestyle offering, extending from the basement through to the rooftop.

Amenities proposed include a rooftop Swim &amp; Racquet Club with a 25-metre Olympic lap pool and tennis court, coworking spaces and libraries, golf simulators, wine storage, concierge facilities, business lounges, pet wash areas, and rooftop longevity-focused wellness spaces with spas, outdoor fitness zones, and landscaped terraces.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="944b352c-49b9-4247-a4c6-5967b4b69fda" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/amenity.png?VersionId=Ed_qKjAtMwFT.5gfl3jiA9QwdWxSMsaX" />

All parking will be concealed within basement levels accessed from Wyandra and Helen Streets. Cavcorp says the deep-basement engineering approach allows the entire ground plane to prioritise landscaping, pedestrian movement, and active frontage rather than vehicle infrastructure.

The development continues Cavcorp’s concentration in Newstead and Teneriffe, where the Brisbane developer has delivered a number of apartment projects including Lucent, Le Bain, and Luminare, as well as the Long Island Wellness Precinct nearby. Several of those projects have received national design and architecture awards, including recognition under Brisbane’s “Buildings that Breathe” program.

Cavcorp unveils wellness-focused Teneriffe House and Teneriffe Lane apartment buildings

Focus Group Investments has lodged plans for a new apartment development at <a href="https://www.apartments.com.au/new-apartments/64-70-hanover-street-fitzroy-vic-3065">64–70 Hanover Street</a> in Fitzroy, seeking to utilise the Victorian Government’s recently introduced Great Design Fast Track pathway to accelerate approvals for the project.

The proposal is among the latest developments to emerge through the state-led initiative, which was established to fast-track well-designed residential projects in activity centres and transport-connected inner-city locations. The pathway allows qualifying developments that meet elevated design and housing benchmarks to bypass traditional council planning timeframes and instead be assessed directly by the Department of Transport and Planning.

Designed by SJB, the development will comprise a mix of apartments above activated lower levels, with a strong focus on architectural articulation, landscaping, and communal amenity. The design response seeks to balance the industrial character of Richmond’s former warehouse precincts with a more contemporary residential form.

<img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="abea51cc-d85b-479e-9aef-a589f3b37ca7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/ground.png?VersionId=e1Kf8EyPWwyiVumtqQ4rM5S4GpOR3CCz" />

Proposed are 63 new dwellings, a wide ranging mix of studio, one-, two-, and three-bedroom apartments, and townhouses and duplexes. They will be spread across a part-three, part-eight storey building.

The Planning and Urban Context Report by Tract says the development is of an "exemplary architectural standard" and has been carefully crafted by SJB Architects.

"Dwellings&nbsp;will benefit from excellent access to natural light, cross-ventilation opportunities and extensive communal space," the report noted.

The architectural material highlights the project’s integration of landscaped elements and communal spaces throughout the building. The proposal also incorporates sustainability initiatives aligned with the Victorian Government’s push for higher-performing apartment developments under the fast-track program.

The Great Design Fast Track was unveiled by the Victorian Government in 2024 as part of a broader housing supply strategy aimed at accelerating the delivery of new homes. Projects assessed through the pathway must demonstrate high-quality architecture, sustainability outcomes, and housing diversity while being located close to public transport and existing infrastructure.

<img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="afdbe834-8dc4-4a77-a943-ba07bc927348" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/site_11.png?VersionId=0J657j.TaChAZfp93wqJYBTqSsnREJx2" />

Focus Group, founder and led by Paul De Lutiis, is increasingly active across Melbourne’s inner suburbs, targeting well-connected urban renewal locations suited to medium and higher-density residential development. The Fitzroy proposal continues that strategy, leveraging the area’s strong transport links, established retail amenity, and proximity to the CBD.

Fitzroy has been one of the most popular spots for developers and buyers in recent years. The likes of PACE Development Group, SMA Projects, Crema Group and Chapter Group, currently selling projects in the suburb.

First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Fitzroy apartments

The Gold Coast Planning Committee has supported the preliminary approval for the Benowa Gardens Urban Village project following an extensive community consultation and assessment process.

The proposal will now proceed to a full council vote on June 2.

The application sought approval for a masterplanned urban village on the existing Benowa Gardens Shopping Centre site, combining new housing, retail, dining, health and lifestyle amenities within a walkable, integrated precinct.&nbsp;

The proposed redevelopment includes around 413 apartments integrated above a revitalised mixed-use centre featuring a full-line supermarket of 4,000 sqm, 6,000 sqm of specialty retail and dining space across around 30 retailers, a 7,000 sqm health and wellness precinct, and roughly 9,630 sqm of office and medical suites.&nbsp;

<img alt="$1b Benowa Gardens Urban Village moves to Full Council following Planning Committee support" data-entity-type="file" data-entity-uuid="fb36ae47-80bc-45f0-9914-31b0c7b6007d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/PR26576%20Ashmore%20Road%20C4%201121%20FI.jpg?VersionId=6mRKk2uU4r67TmTt39DKGUlvFRbTVqWa" />

The broader masterplan also includes very significant traffic and transport improvements, wide pedestrian walkways, upgraded pedestrian and cycle connections, and enhanced public areas designed to create a more connected and walkable community environment.&nbsp;

Centre owner Patrick Lu said the milestone reflected months of detailed planning, technical assessment and ongoing communication with local residents, businesses, schools and stakeholders.

“We appreciate the time, consideration and care Council officers and the Planning Committee have given this proposal throughout the assessment process,” Lu said.

“We also sincerely thank the local community for engaging with us, sharing feedback and participating in the consultation process over many months.

<img alt="$1b Benowa Gardens Urban Village moves to Full Council following Planning Committee support" data-entity-type="file" data-entity-uuid="32fd1fc3-d0e6-485f-ac57-9916c9bcb818" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/PR26576%20Ashmore%20Road%20C5%201121%20FI_2.jpg?VersionId=fz8qQKDBLQ7MyFRc856Zccfbh9nFwLOe" />

“We understand projects of this scale bring questions and concerns, which is why we have worked hard to listen carefully, provide information transparently and continue refining elements of the proposal where possible.

“Our vision has always been to create a well-designed, community-focused urban village that responds to the changing needs of the Gold Coast, while delivering improved amenity, housing diversity, healthcare access and local lifestyle benefits.

“This proposal is about creating a genuine live-work-play environment where residents can access everyday services, schools, healthcare, dining, shopping and green space within walking distance, while also supporting local jobs and economic activity.”

<img alt="$1b Benowa Gardens Urban Village moves to Full Council following Planning Committee support" data-entity-type="file" data-entity-uuid="50dfbd04-590e-4fc6-983b-766880947867" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Dining%20Day%20Time%20-%20High%20Resolution.jpg?VersionId=BP7ZoKJ0DdL_8iRkkC8VVx99moICV6kg" />

Lu said the proposal had evolved significantly through consultation and technical review, particularly around traffic, pedestrian and student safety and neighbourhood connectivity.&nbsp;

Melissa Griffin, Director at Urbis, said the recommendation recognised the strategic importance of delivering more housing and services within established urban areas already supported by infrastructure.

“This proposal represents the type of thoughtful, integrated growth that planning frameworks across South-East Queensland are encouraging,” Ms Griffin said.

“The project seeks to place housing, retail, healthcare and employment opportunities together in a highly accessible location close to schools, transport and existing services.

“Importantly, the process has involved significant technical assessment and community engagement to ensure local issues and feedback were properly considered throughout the planning pathway.”

$1 billion Benowa Gardens Urban Village heads to council vote following Planning Committee support

Surfers Paradise is officially set for its first new residential development with a 45-storey skybridge connecting the two towers.

John Camilleri’s Celestino Developments has been given the green light by the Gold Coast City Council to develop its major beachfront precinct across its huge 4,000 sqm oceanfront site at <a href="https://www.apartments.com.au/new-apartments/63-79-garfield-terrace-surfers-paradise-qld-4217">63–79 Garfield Terrace</a>, just five months after its <a href="https://www.apartments.com.au/news/qld/first-look-exclusive-billionaire-winx-breeder-s-bold-two-tower-surfers-paradise-play-with-45th-storey-skybridge">submission in late 2025</a>.

The approved scheme will deliver two towers rising 55 and 48 storeys, connected by a skybridge positioned on level 45 that will house a range of resident-only wellness and entertainment spaces.

In its notice of approval, the Gold Coast City Council said the&nbsp;proposed overall built form has been designed to complement the scale, intensity and protect the adjacent amenity and surrounding streets through the use of varied setbacks, site cover and architectural elements.

<img alt="First look exclusive: Billionaire Winx breeder’s bold two-tower Surfers Paradise play with 45th-storey skybridge" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-30%20at%209.53.48%E2%80%AFAM.png?VersionId=ADyPJ_TFbJvSU9wZFOiCBnlPtgF7VWqW" />

Designed by <a href="https://www.apartments.com.au/architects/dbi">DBI</a>, the development will comprise 275 apartments across the two towers, including a mix of two-, three-, and four-bedroom residences, as well as several penthouses. The apartments will sit above a landscaped podium featuring more than 90 metres of beachfront pool frontage, private resident lawns, lounges, and wellness spaces.

DBI said the design draws heavily from the movement and form of the coastal environment, with curving balcony lines and sculpted façades intended to soften the scale of the towers while maximising ocean outlooks and passive shading outcomes.

“The project occupies a rare, uninterrupted oceanfront site and has been shaped by a design philosophy that merges architectural elegance with environmental responsiveness and a carefully curated lifestyle experience,” DBI said in planning documents submitted to the Gold Coast City Council.

The most distinctive element of the approved project is the skybridge linking the two towers at level 45. The elevated communal space is planned to include executive lounges, formal dining areas, wellness facilities, and panoramic ocean-facing outlooks.

“The skybridge enhances the identity of the development, promotes social interaction, and delivers a lifestyle experience not found elsewhere on the Gold Coast,” DBI said.

At podium level, residents will have access to a suite of resort-style amenities, including resident lounges, private dining rooms, a yoga lawn, gymnasium, plunge pools, and treatment spaces. The beachfront pool has been designed with separate lap, lounge, and children’s areas extending across the width of the site.

The project will also introduce new food and beverage offerings along the Enderley Avenue and Oceanway frontages, contributing additional activation to the beachfront precinct.

First look: Winx billionaire’s beachfront Surfers Paradise apartment development greenlit

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

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

<html><body>
Back in my distant and naive past, I regarded Time Magazine as a quality publication. It had the aura of authority and integrity in the presentation of global news. Until one day it published an article on a subject I knew well. I was appalled at the inaccuracies and the sensationalism.
It was the worst kind of tabloid journalism in a publication with pretensions to quality. I could never again see the magazine in the same light, because I began to wonder about the authenticity of its information on other subjects.
I’ve just had a similar experience with GetUp. I’ve admired the achievements of the GetUp movement as an expression of people power and I’ve supported many of its campaigns, particularly those related to environment. My support of some of these campaigns was based on the assumption that the arguments they presented were anchored in facts.
That all changed this week when GetUp launched a campaign against negative gearing. I received the GetUp email letter asking for my support and could scarcely believe what I was reading. It was a dishonest and emotive rant littered with falsehoods and unsubstantiated claims.
Sadly, it was based on the kind of misinformation that is rife in real estate media. The people who wrote it are either unethical or incompetent - probably a mix of both.
Everything the organisers of this movement tell me on any subject henceforth will be tainted by the suspicion the information has been distorted or fabricated.
Because that is certainly the case with the “information” presented on negative gearing.
The people who wrote the GetUp statement smelled the blood of Joe Hockey following his alleged gaffe about housing affordability. I say “alleged” because there is nothing in Hockey’s statements (that the key to affording a home is a good job that pays well and enhances your chances of getting a loan) that justifies the media hysteria that followed. Further proof that a rational debate on any subject is beyond the scope of Australian media.
The GetUp statement began with the claim that there are “millions of frustrated first home buyers priced out of a skyrocketing housing market”.
This is plain wrong and easy to disprove. Australia has 8.6 million households, of which 6 million are home-owners and much of the rest (according to the research) are renters by choice. The research shows that 25% of all current residential sales are to first-time buyers, which means around 120,000 households bought their first property in the past 12 months. The two affordability indexes published quarterly indicate affordability overall is strong and, if you remove Sydney from the equation, the best it’s been in 12 years.
It’s impossible on those numbers to substantiate the claim that there are “millions of frustrated first-home buyers” across Australia.
The claim about “a skyrocketing housing market” is patently absurd, given that only one of the eight capital cities has a boom market. Of 16 major markets (eight cities, each with a house market and a unit market), based on the latest annual price data, six are going backwards (prices decreasing), seven have price growth below 3.5% and only one has double-digit growth. One big growth market out of 16 does not, by any definition, constitute a skyrocketing property market.
This suggests the campaign is based on two false premises: that we have a skyrocketing market and that there are millions trying to buy who can’t.
And the GetUp argument goes downhill from there.
It takes a further leap of imagination in claiming that negative gearing is “one of the root causes” of the alleged affordability problem. This, like all the sweeping statements in the GetUp letter, is not supported by any factual evidence.
An 18-month federal parliamentary inquiry was unable to produce any evidence that negative gearing had any bearing on the cost of housing for first-home buyers. The final report said they suspected it might, but couldn’t provide any definitive evidence that it did. After 18 months of inquiry, which included four time extensions.
Then there’s this statement: “Negative gearing forces everyday Aussie home buyers to compete with investors armed with generous tax breaks looking to buy their second or third property. It reduces home ownership and locks many out of the housing market, increasing the gap between the haves and have-nots.”
The claim that investors are commonly buying second or third investment properties is contradicted by ATO data showing that three-quarters of investors own only one property. The statement also assumes that all property investors are negatively-geared, whereas the ATO evidence shows that 640,000 Australians own investment property but don’t claim negative-gearing deductions. I’m one of them.
It further claims: “A massive $4.2B in negative gearing tax breaks per year go to the top 10% of income earners.” That is another lie. There are many different figures bandied about in terms of how much is claimed in negative gearing benefits - the Green have quoted two different figures this week, $2.9 billion and $4.2 billion, but to suggest it all goes to the biggest income earners is, once again, clearly false. The ATO data shows that most Australians who own an investment property earn less than $100,000.
The GetUp statement also lies when it claims: “There's consensus among housing experts and economists that negative gearing is one policy area driving unaffordable housing in Australia.” No such consensus exists, nor anything remotely like it. In my reading of media, those who see a link between negative gearing and housing affordability are very much in the minority, albeit a very noisy one populated by people from the lunatic fringe, like dodgy forecaster Saul Eslake.
Beyond the inaccuracies and sweeping political statements, the GetUp campaign is based on the notion that eliminating negative gearing will somehow make housing cheaper. The process by which that would occur is not explained - possibly because it makes no sense.
There is also the furphy that increasing housing supply will somehow, again miraculously, bring down the cost of housing. There’s evidence that a massive oversupply will cause prices to fall but how we convince large numbers of developers and builders to be willing to lose money to create such a scenario is not explained. There’s no evidence that an orderly increase in supply, which is what we’ve had in Australia for three years now, will lower prices.
There’s also this statement: “The thing about bubbles is that they eventually burst. If we don't take some heat out of the property market now, we could see a crash that would devastate homeowners and investors alike – with dire implications for the Australian economy.” 
Well, actually, no. Media has been writing about alleged bubbles in our property markets – constantly - for the past 15 years but there has been no property crash - which suggests those bubble claims were false. What we have seen throughout history is that boom markets eventually stop growing and prices level out. But we have never seen a crash, not in the history of this nation.
Finally we have this statement: “It’s high time we saw Government leadership to make housing more affordable for all Australians.” But eliminating negative gearing simply won’t achieve it. The tax benefits of a small number of people are not the problem, if indeed there is one.
GetUp has been an interesting experiment in ordinary people using modern media resources to lobby for worthy causes. But they’ve crossed the line with this dishonest and misguided anti-investor campaign and I wonder how many people, like me, will withdraw their support.
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> 
Terry is presenting a free webinar with Property Observer editor at large Jonathan Chancellor on Tuesday June 16 at 12.30pm titled on why research is the key to successful property investing in 2015. Sign up here.
</body></html>

terryryder-YECXbqmri2

Present arguments anchored in facts: Terry Ryder

<html><body>
A week after Treasury boss John Fraser said the Sydney housing market was unequivocally in a housing bubble, the Reserve Bank boss Glenn Stevens suggested some house prices were “crazy”.
“Yes, I am very concerned about Sydney. I think some of what’s happening is crazy,” he told a business lunch in Brisbane yesterday.
"But we have a national focus to manage as well, that just increases the complexity," he advised.
He said the steep rises in property prices in Australia’s biggest city were “acutely concerning” and that the issue was a social problem.
"Do you want me to comment on the housing market?" he jested before embarking on his startling insight.
The Reserve Bank governor Glenn Stevens left open the possibility of a further interest rate cut but warned against expecting monetary policy to do too much of the work in boosting economic growth.
The craziest price Property Observer has spotted was at <a href="/news/spot-the-460-000-two-year-price-difference-in-maroubra-sale">33 Parer Street, Maroubra</a> which fetched $1.46 million at April auction through N G Farah agent Cameron Airlie.
The two bedroom semi on 310 square metres had previously sold at $1 million in March 2013, so unchanged barring a coat of paint over the two year gap.
<div id="tt-wrapper1edaf36" class="tt-wrapper inread ">We asked readers: Could you spot the $460,000 difference? 
</div>
</body></html>

jchancellor-FAypfDUnLy

Crazy, complex and concerning, RBA Glenn Stevens' frank views on house prices

<html><body><div class="page" title="Page 3">
<div class="layoutArea">
<div class="column">
The initial report card for the Australian and NSW governments’ $3.6 billion, 10 year Western Sydney Infrastructure Plan has been released.
<div class="page" title="Page 6">
<div class="section">
<div class="layoutArea">
<div class="column">
It advises significant progress had occurred in delivering the Western Sydney Infrastructure Plan in the past three months. 
Roads and Maritime have commenced construction on 7.7km of the 57km of Western Sydney Infrastructure Plan roads between January and March 2015 on the Werrington Arterial Road and Bringelly Road upgrade Stage 1 sites.
</div>
<div class="column">
About 75 intersections will be built or upgraded for the Western Sydney Infrastructure Plan projects in the next 10 years. 14 of these intersections are now under construction. 
</div>
<div class="column">
Ten kilometres of the 63km of shared pedestrian and cyclist paths were being built between January and March 2015.
<div class="page" title="Page 7">
<div class="section">
<div class="layoutArea">
<div class="column">
Of the $3.6 billion Western Sydney Infrastructure Plan the Australian Government will fund $2.9 billion by the end of this quarter.
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
<a href="https://www.rms.nsw.gov.au/documents/projects/sydney-west/infrastructure-plan/wsip-report-card-2015-jan-mar.pdf" target="_blank">The report</a> said the Australian and NSW governments were delivering road projects to "support an integrated transport solution for the western Sydney region which will capitalise on the economic gains of building an airport for western Sydney."
</div>
<div class="column">
Western Sydney is expected to undergo unprecedented growth with about one million additional people living in the region by 2031.
The plan upgrades major corridors including Bringelly Road (construction underway) and The Northern Road, and upgrades existing roads between the M4 Motorway and the Great Western Highway to form the Werrington Arterial Road (construction underway). 
It will also deliver a new $1.2 billion M12 Motorway providing direct airport access.
 
<img src="/images/2015/06/10/700_Chart.jpg" alt="">
</div>
</div>
</div></body></html>

Western Sydney infrastructure report card

<html><body>
Prime Sydney harbourside retail space becomes available in July with the former site of restauranteur 'Peter Doyle's at the Quay' offered up for lease by tender. 
Situated within the Overseas Passenger Terminal, Circular Quay at Tenancy 5, under the existing Quay restaurant, the lease includes 1,000 sqm of internal space and 400 sqm of external dining.
Manager of Colliers Retail Leasing, Matt Hudson, said demand is expected to be strong.
"We’ve already spoken to several well-known restaurateurs and other retailers who have shown interest in this location,” Mr Hudson said.
Expressions of Interest close noon, July 10.
</body></html>

mick.cee-iDmgDDAmu8

Prime Sydney Harbour restaurant site up for lease

<html><body><div class="cq-article-content-paras section">
The Reserve Bank of Australia governor Glenn Stevens has given a speech calling for extra infrastructure spending by governments.
The speech noted the economy has followed a different track from the one expected a couple of years ago.
"That is partly because conditions in the world economy were different from what had been expected and partly because several domestic factors were different," he said.
"As things stand, the economy could do with some more demand growth over the next couple of years.
"As often remarked, infrastructure spending has a role to play in sustaining growth and also in generating confidence.
"I am doubtful of our capacity to deploy this sort of spending as a short-term countercyclical device.
"The evidence of history is that it takes too long to start and then too long to stop.
"But it would be confidence-enhancing if there was an agreed story about a long-term pipeline of infrastructure projects, surrounded by appropriate governance on project selection, risk-sharing between public and private sectors at varying stages of production and ownership, and appropriate pricing for use of the finished product.
"The suppliers would feel it was worth their while to improve their offering if projects were not just one-offs.
"The financial sector would be attracted to the opportunities for financing and asset ownership.
"The real economy would benefit from the steady pipeline of construction work – as opposed to a boom and bust. It would also benefit from confidence about improved efficiency of logistics over time resulting from the better infrastructure.
"Amenity would be improved for millions of ordinary citizens in their daily lives.
"We could unleash large potential benefits that at present are not available because of congestion in our transportation networks.
He said the impediments to this outcome were not financial.
"The funding would be available, with long term interest rates the lowest we have ever seen or are likely to.
"And it is perfectly sensible for some public debt to be used to fund infrastructure that will earn a return.
"That is not the same as borrowing to pay pensions or public servants.
"The impediments are in our decision-making processes and, it seems, in our inability to find political agreement on how to proceed.
"Physical infrastructure is, of course, only part of what we need.
"The confidence-enhancing narrative needs to extend to skills, education, technology, the ability and freedom to respond to incentives, the ability to adapt and the willingness to take on risk.
"It is in these areas too, where there are various initiatives in place or planned, but which often do not get enough attention, that we need to create a positive dynamic of confidence, innovation and investment."
While he left open the door to further official interest rate cuts, Glenn Stevens said policy makers expected too much from monetary policy, warning that it could lead to "much bigger problems".
He told an audience of economists in Brisbane today that economic growth was likely for the year to June to be "a bit below" than what the central bank's forecast two years ago for growth of between 2.5% and 4%.
</div></body></html>

RBA Governor says government needs to address transportation congestion

<html><body>
GUEST OBSERVER
Leasing commercial office space can be a tricky business. You need to find office space that will suit the needs of your business and match the projected vision for your business growth, at the right price.
Leasing an office or commercial space is likely to be one of the most costly overheads for your business, so it’s crucial to secure the right property, and know what you’re doing in the process. This is, after all, a business transaction, so take your time and get to know some of the ‘lease speak’. Here are our 7 top tips for tenants when negotiating a commercial lease.
Tip 1
Never agree to an upwards only market review – this is known as a ‘ratchet review’ and it moves in one direction only - upwards.
Tip 2
Always ensure that you have flexibility in your market reviews. You can achieve this through a ‘Cap and Collar’ review whereby the rent can go up by a fixed amount, as much as it can go down by a fixed amount.
Tip 3
Never agree to a ‘make good clause’ in your lease until you know all of the details. A ‘make good cause’ refers to a tenant’s obligations at the end of a lease such as removing their fit-out and reinstating back to “Base Building.”
Always request a ‘make good scope’ from the landlord and ensure that your independent tenant rep has reviewed the scope so that you know the extent of your liabilities before you sign your lease.
Tip 4
Don’t sign your lease until you have had it independently reviewed by an independent tenant rep which may result in greater savings.
Tip 5
Always ensure that your tenant rep is independent, not a property company who could have business relationships with landlords. 
Tip 6
Don’t run out of time in your lease negotiations – some landlords play slowly on purpose to corner you. Start early and leave enough time so that you can walk away from the deal and leverage off other options.
Here are some timeframes
●     200Sqm to 500Sqm (9 Months before lease expiry)
●     1,000Sqm to 2,000Sqm (18 months before lease expiry)
●     Over 3,000Sqm (18 to 24 months before lease expiry)
Tip 7
Understand the real estate and financial needs of your landlord. A landlord will want to keep their Face Rent at market to maintain or increase the value of the property.
It makes sense to negotiate harder on incentives, annual increments, fit out etc, and a rent abatement to reduce the overall annual rent despite the market Face Rent – this keeps both parties happy.
 
Mark McGrath is Principal of Tenant Representation Services. He can be contacted <a href="https://tenantrep.com.au" target="_blank">here</a>.
</body></html>

Seven leasing tips for potential tenants

<html><body>
The listed developer Payce Consolidated, and its Japanese partner Sekisui House, have sold their Wentworth Point site on Sydney's Parramatta River for around $100 million. 
Payce advised on Friday that a put and call option had been executed with a non-refundable call option fee.
It is suggested the buyer is Piety Investments, the boutique developer and asset manager.
The site has concept plan approval for 678 units. 
<div class="cq-article-content-paras section">
The Piety deal was brokered by James Bellew of Colliers International, according to the Australian Financial Review.
Piety managing director Bilal El-Cheikh owns and manages WK Quantum Quartz, the wholesale and distribution company in Australia specialising in marble and granite products. 
Piety, backed by a Malaysian-based partner, has a $210 million development at Lane Cove, due for completion in December, will comprise 270 apartments.
There is also a $200 million mixed-use project at Hurstville, known as Imperial.
</div>
</body></html>

Payce and Sekisui sell Wentworth Point site to Piety Invesments

<html><body>
A Melbourne private investor has paid $4.85 million for a modern distribution centre at Cheltenham in Melbourne’s south-east.
The former Grays Online premises, located at 19 Hewitt Street, was sold with vacant possession in a deal brokered by Savills Australia.
It comprised a 3785 square metre quality office and high clearance warehouse on a large 12,300 square metre site with significant concrete and bitumen hardstand areas. 
Savills’ Senior Industrial Executive, Chris Telley said the quality of the building, the extensive hardstand, the location, and the potential to add value were key considerations. 
There was currently only 30% site coverage.
The Moorabbin/Cheltenham industrial precinct is viewed as one of the most tightly held precincts in the south-east due to easy access to both the CBD, Melbourne’s bayside suburbs, freeway network and a skilled workforce. 
</body></html>

Former Grays Online premises sold at $4.85 million at Cheltenham

<html><body>
China’s largest developer Greenland Group has bought a Parramatta development site.
It was the second property with development potential bought from Sam Arnaout’s hospitality and development group Iris Capital.
Greenland is buying the Crown Hotel, which has the potential to be developed into apartments.
Combined with the Crest Hotel, Kings Cross acquisition the purchase cost an unconfirmed $170 million.
</body></html>

Greenland buys Crown Hotel, Parramatta site from Iris Capital

<html><body>
Australand has secured CEVA Logistics at its West Park Industrial Estate, recently commencing construction of a new 90,000 sqm campus-style warehouse and office facility for the world leading supply chain company. 
The Ceva Logistics deal – one of the largest in Australia in years – takes the total industrial space transacted by Australand in Melbourne over the last six months to around 200,000 sqm, equating to approximately $200 million in value.
The new facility will be the centrepiece of CEVA’s growth plans in Australia and New Zealand once completed in mid 2016. It will have an end value of over $80 million and CEVA has committed to an initial 10 year lease over the site.
Anthony Maugeri, Australand General Manager – Southern Region, said the CEVA deal caps a period of intense industrial activity in Australand’s Melbourne estates.
“We have secured a number of significant deals with some of Australia’s largest industrial occupiers in Melbourne recently, at a time when there’s a relative shortage of good quality industrial space readily available,” Mr Maugeri said.
“It is encouraging to see demand remain resilient given the current economic environment and the shortage of quality industrial facilities available at short notice, particularly in west Melbourne, has supported strong activity in our estates.
“The strategic location of West Park, our capacity to deliver and our longstanding strong relationship with CEVA were the core ingredients in converting this project.”
As the largest CEVA facility in Australia, the new office and warehouse will enable CEVA customers to benefit from excellent access to Melbourne’s road and rail network, the Port of Melbourne and Melbourne International Airport.
<div class="page" title="Page 2">
<div class="layoutArea">
<div class="column">
CEVA’s commitment represents the culmination of an active few months for Australand and the West Park estate, where Australand has just converted a 14,330 sqm speculative facility for long term customer Schenker in a deal valued at $14.3 million. 
“We will continue to employ our speculative strategy where it makes sense to do so, as we have the unique benefit of an industrial land bank focused in Melbourne’s key industrial sub-markets,” Mr Maugeri said. 
“However we have noticed the pre-lease market beginning to unlock again, which is positive news. There are signs that leasing activity is picking up and occupiers are willing and able to forecast their accommodation needs out a bit further. 
“Evidence of this is securing major pre-leases to Miele, Austrans and MaxiPARTS in recent times.” 
The 15,000 sqm Miele pre-lease at The Key was secured in a deal valued at $17 million, based on the facility’s estimated end value. At West Park, the Austrans pre- lease was for 14,570 sqm ($14.6 million) and the MaxiPARTS facility covers 12,505 sqm ($12 million). 
Other recent deals include the Ive Group Australia’s commitment to a 6,789 sqm facility developed speculatively at The Key. 
Australand has also recently completed the development of its Access Altona estate in Melbourne, having executed deals with Godfreys for 12,333 sqm and Cosmic for 9,077 sqm. The facilities for Godfreys and Cosmic, valued at $12.4 million and $8.5 million respectively, were further examples of Australand’s speculative development strategy paying dividends. 
Sean McMahon, Australand's Executive General Manager - Commercial &amp; Industrial, said the Melbourne industrial market remains the most affordable market in Australia, 20-30% cheaper than the other capital cities. 
“The relative affordability of quality industrial space in Melbourne continues to attract a broad array of international logistics and domestic industrial occupiers alike,” Mr McMahon said. 
“Incentives do remain elevated, as is the case with most markets, however they should stabilise over time as economic and demand conditions gradually improve. 
“We have a strong market position in Melbourne particularly focused in the west and south east, and we are well positioned with our land banks to convert new demand as it emerges. We are currently servicing a further 40 hectares in these key markets to ensure we provide speed to market for new transactions. 
“We are very focused on our market leadership position in the sustainability space and we have committed to a 6 star Green Star rating for the new campus-style facility for CEVA."  
</div>
</div>
</div>
</body></html>

Latest Investing Insights

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

Editor's Picks

Developments

New apartments

New townhouses

News

Latest Investing Insights

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

Editor's Picks

Receive the latest news stories to your inbox

Developments

New apartments

New townhouses

News