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]

Joel Robinson

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

Melbourne developer <a href="https://www.apartments.com.au/developers/pdg-corporation">PDG</a> has unveiled its vision for the former Water Tank Site in Ivanhoe, which would see it transformed into a thriving residential neighbourhood, complete with a 2000 sqm public park.&nbsp;

Delivered in partnership with <a href="https://www.apartments.com.au/developers/development-victoria">Development Victoria</a>, the proposal would transform the prominent corner of Bell Street and Upper Heidelberg Road into a connected community comprising two residential buildings, generous public open space and shared amenities.&nbsp;

The vision includes 287 one, two and three-bedroom apartments, with a minimum of 10 per cent allocated to affordable housing, alongside a 2,000-square-metre publicly accessible park featuring a children's playground, activity lawn, indigenous planting, timber climbing logs, seating areas and a rock gathering circle.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/dko-architecture">DKO Architecture</a>, the proposal draws on the site's industrial heritage, using a robust architectural language that references the former water tank through expressive structural elements and durable, self-finished materials.&nbsp;

Extensive landscaping has been woven throughout the development, creating a living landscape that strengthens connections to nature while responding sensitively to the surrounding neighbourhood. Two residential buildings ranging from three to 12 storeys are linked by a landscaped forecourt, creating a welcoming arrival experience and improving pedestrian connections through the site.&nbsp;

Residents would also enjoy more than 1,000 square metres of communal open space, including barbecue and dining facilities, vegetable gardens, landscaped seating pavilions and a dedicated coworking space.&nbsp;

PDG Founder and Managing Director Vince Giuliano said the vision reflected an opportunity to transform one of Ivanhoe's most recognisable sites into a place that balanced housing, community and landscape.&nbsp;

"This is an opportunity to reimagine an important site and create a neighbourhood that delivers lasting benefits for Ivanhoe," Giuliano said.&nbsp;

"We're creating much more than new homes. The vision brings together affordable housing, quality architecture, meaningful public open space and shared places that encourage people to connect, while respecting the site's history and its place within the local community."&nbsp;

Development Victoria’s Executive General Manager Precincts, Niall Cunningham, said the application is an important step for the government-owned site.&nbsp;

“This is about delivering more homes in a well-connected location, along with public open space that the Ivanhoe community will benefit from for years to come,” Cunningham said.&nbsp;

PDG was selected as development partner in late 2025 following a competitive tender process.&nbsp;

A planning submission for the project is currently being progressed through the Victorian Government's Development Facilitation Program, with positive early engagement from both Banyule Council and the Department of Transport and Planning.

PDG unveils plans to transform landmark Ivanhoe Water Tank Site

Shane Wilkinson's <a href="https://www.apartments.com.au/developers/pace-development-group">Pace Development Group</a> has lodged plans for a major residential precinct on the former Presentation College site in Windsor, with an eight-building masterplan ultimately rising to 10 storeys.

The proposal at <a href="https://www.apartments.com.au/new-apartments/167-dandenong-road-windsor-vic-3181">167–187 Dandenong Road</a> spans a substantial 19,027 sqm site and is being progressed across six stages, with the first residential stages comprising 170 homes across four buildings designed by <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a>.

Stage Two will deliver the bulk of the initial housing, with Building A comprising 81 apartments and Building B 49 apartments, both rising to six storeys.

Stage Three will deliver a further 40 homes. The heritage Nagel Building, identified as Building C, will be converted to 12 dwellings, while a new five-storey Building D will comprise 28 apartments at the Hornby Street and Dandenong Road corner.

The 170 homes across Stages Two and Three will include a mix of one, two and three-bedroom apartments, including townhouse-style dwellings.<img alt="First look: Pace plans landscaped housing precinct on former Windsor school site" data-entity-type="file" data-entity-uuid="83c56e3e-dfb9-4e12-b172-c3f18513ec32" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_9.png?VersionId=xRcRpSZsxX.UX_NDDGcRZktw7HVrzx7u" />

&nbsp;

The longer-term masterplan points to considerably greater density across the site.

Indicative plans show Building E accommodating around 80 dwellings across up to 10 storeys, while Building F is earmarked for around 120 dwellings and also up to 10 storeys. Building G is planned to range between four and 10 storeys, however its apartment yield is yet to be determined. That means the masterplan currently identifies at least 370 dwellings across Buildings A to F before any apartments within Building G are counted.

Across the 1.9-hectare site, that represents an indicative density of at least 194 dwellings per hectare, with the final figure to increase once the yield of Building G is established.

Pace is pursuing the project through the Victorian Government's Development Facilitation Program, with Urbis lodging a combined Section 96A planning scheme amendment and planning application on behalf of the developer, which secured the site earlier this year.

The application seeks detailed approval for Stages One, Two and Three, alongside approval of the broader masterplan framework that will guide the later residential stages. Stage One will see an existing heritage building adaptively reused for a wellness and fitness-related facility, while the broader precinct will retain several significant heritage buildings and established trees as part of the redevelopment.

A minimum 10 per cent affordable housing contribution is proposed across both the initial residential stages and the later masterplan stages, delivered through a discounted rental model.

The project comes immediately after a major change to the site's planning controls.

The site was rezoned to the Housing Choice and Transport Zone through Planning Scheme Amendment GC285, gazetted on July 22, 2026, and now sits within the inner catchment of the Windsor Station precinct under the State Government's Train and Tram Zone Activity Centres Program.

While the new controls identify large sites within the inner catchment for buildings of up to six storeys, Pace's masterplan pushes height to 10 storeys in parts of the site, with the taller buildings concentrated toward the centre and along the Sandringham railway corridor.

Lower-scale built form is proposed toward the site's more sensitive residential and heritage edges, with Buildings A and B generally stepping from three storeys at their interfaces to six storeys at upper levels.

Cera Stribley's masterplan breaks the development into a collection of separate buildings rather than a continuous built form, with landscaped spaces, new pedestrian links and a new publicly accessible road forming part of the precinct.

The planning report says the development will create new pedestrian connections to Elm Place and along the railway corridor, as well as a new publicly accessible road linking Elm Place with Dandenong Road. The proposed buildings will occupy around 54 per cent of the site, leaving a substantial portion available for landscaping, communal areas and permeable surfaces.

Urbis said the scale of the project reflected the site's strategic location close to Windsor Station, tram services and the Chapel Street Activity Centre, with the former school campus identified as a significant opportunity to increase housing supply on an underutilised inner-Melbourne site.

&nbsp;

First look: Pace plans landscaped housing precinct on former Windsor school site

<a href="https://www.apartments.com.au/developers/jl-place">JL PLACE</a>'s Veil Brighton is approaching its final months of construction, with the nine-townhouse development at 17 Rooding Street expected to complete in December 2026.

The milestone is bringing the boutique project closer to becoming a finished part of the <a href="https://www.apartments.com.au/developments/brighton-vic-3186">Brighton</a> streetscape, with much of Brighton's everyday amenity within a short walk.

Palace Cinema, Coles Supermarket and North Brighton Station are all around five minutes on foot from <a href="https://www.apartments.com.au/new-townhouses/veil-brighton-17-rooding-street-brighton-vic-3186">Veil</a>, alongside numerous cafés, restaurants and bars. The station provides a direct rail connection toward Melbourne's CBD, while Bay Street and the wider Brighton retail and dining network add to the range of services accessible without relying on a car for every trip.

"The location was fundamental to the project. Brighton is an established suburb where many buyers already have strong connections to the area and want to remain close to the people, places and amenities that form part of their everyday life," the developer said.

"Veil sits in a highly walkable part of Brighton, with a Walk Score of 90/100."

For buyers looking to right-size within Bayside, that level of walkability adds to the appeal of a more manageable way of living. Everyday shopping, dining, entertainment and public transport can be accessed without relying on the car for every trip, while residents remain connected to the places and routines that make Brighton familiar. It allows buyers to simplify day-to-day life without giving up the convenience, amenity and connections they already value.

[smartcode_project:default project_id=7877 project_image_fid=355754]

As completion approaches, the architecture, landscaping and material palette are progressively becoming visible on site, giving prospective purchasers a clearer view of the finished development beyond its plans and renders.

Veil comprises nine townhouses, predominantly three-bedroom homes with between 2.5 and 3.5 bathrooms, two car spaces and, depending on the residence, study areas and private outdoor space. Selected homes include a bedroom on the ground floor.

Veil occupies a middle ground between detached housing and apartment living, retaining private gardens, storage and secure parking within a more manageable residential format.

<a href="https://www.apartments.com.au/architects/schmidt-pang-architects">Schmidt &amp; Pang</a> designed the architecture around natural light, ventilation, privacy and practical use of space. From Rooding Street, the façade has been composed to read as a cohesive residential building rather than nine individual townhouses, with landscaping by <a href="https://www.apartments.com.au/landscape-architect/john-patrick-landscape-architects">John Patrick Landscape Architects</a> integrated throughout the site.

Inside, natural stone, oak flooring, integrated joinery and brushed nickel finishes establish a restrained material palette, while kitchens include Miele appliances and substantial storage such as pantries. Walk-in robes and dedicated study spaces have also been incorporated across the collection.

[smartcode_project:default project_id=7877 project_image_fid=355852]

The project team said the planning of the homes has been informed by how the spaces function for both daily routines and larger gatherings.

"Our new homes owners at Veil have enjoyed the attention to detail in creating efficient layouts that use every space well. Hosting Christmas lunch and large family gatherings is an ease when care is taken to consider how people really live and entertain."

Private landscaped gardens extend the living spaces outdoors, while secure basement parking and bicycle parking are provided below. The homes have also been designed to achieve a 7-star energy rating, supported by double glazing, high-quality insulation, natural ventilation, LED lighting, water tanks and water-efficient fittings. Each residence is backed by a 10-year building guarantee.

Veil is being built by <a href="https://www.apartments.com.au/builders/jeniton">Jeniton</a>.&nbsp;Limited-time stamp duty savings are also currently available on selected purchases at Veil, adding another consideration as the project moves toward completion.

[smartcode_project_cta:default project_id=7877]

Veil Brighton nears completion in one of the suburb's most walkable pockets

<a href="https://www.apartments.com.au/developers/mosaic-property-group">Mosaic Property Group</a> has recorded 134 sales worth just over $400 million in two months of pre-release activity at The Riversdale, as the developer brings its $750 million South Brisbane riverfront project to the broader market.

The sales represent more than 60 per cent of the project's 213 apartments, with Mosaic reporting the majority of purchasers have been local owner-occupiers and downsizers.

<a href="https://www.apartments.com.au/new-apartments/the-riversdale-by-mosaic-south-brisbane-91-montague-road-south-brisbane-qld-4101">The Riversdale</a> will rise 39 storeys from its north-facing site at 91 Montague Road, delivering a mix of two, three and four-bedroom apartments alongside a collection of Mosaic's premium Masterpiece Series Sky Homes.

[smartcode_project:default project_id=151614 project_image_fid=371872]

The early buyer response comes ahead of the wider evolution of the northern end of Montague Road, where The Riversdale will be one of the first major residential projects delivered within an emerging riverfront precinct.

Directly adjoining the development is a planned 7.1-hectare mixed-use precinct, set to introduce new residences, parkland and public realm along the river's edge. The Riversdale's position directly on the Brisbane River gives it a relationship with the waterfront that Mosaic says cannot be replicated by future buildings within the precinct.

The site is also the result of a years-long pursuit by Mosaic. The developer first earmarked the <a href="https://www.apartments.com.au/developments/south-brisbane-qld-4101">South Brisbane</a> property in 2018, reflecting what Founder and Managing Director Brook Monahan has described as a deliberately patient approach to acquiring development sites.

[smartcode_project:default project_id=151614 project_image_fid=372083]

"We aren't opportunistic," Monahan previously told Apartments.com.au.

"Every site purchase is carefully considered. As seen with Kangaroo Point and South Brisbane, it can take years to eventuate. There are sites we're looking at now that we may not secure for several years."

Designed in collaboration with <a href="https://www.apartments.com.au/architects/bureauproberts">Bureau Proberts</a>, The Riversdale has been shaped around the qualities of the riverfront site, with apartments oriented to capture northern light and uninterrupted Brisbane River views.

Generous floorplans and expansive balconies extend the living spaces towards the river, while natural materials and a restrained interior palette have been selected with longevity in mind.

[smartcode_project:default project_id=151614 project_image_fid=371890]

Residents will have access to a level of amenity more commonly associated with world-class hotels and private members' clubs, with almost 3,000 sqm dedicated to wellness, connection, recreation and everyday convenience.

At ground level is a business lounge, private meeting rooms and dedicated workspaces. Mid-tower is a wellness sanctuary featuring magnesium hot and cold plunge pools, sauna, steam room, infrared therapy facilities, a Pilates and yoga studio, and a commercial-grade gymnasium.

Crowning The Riversdale is a rooftop featuring a 35-metre swimming pool with lap lane and spa, outdoor dining and seating terraces, firepit lounges and views of the city, river and Mount Coot-tha.

A private members' club-inspired retreat offers private dining rooms, a whisky lounge, media rooms and immersive entertainment experiences. Completing the amenity offering are two hotel-style guest suites and a resident-exclusive electric vehicle fleet and car-share program.

[smartcode_project:default project_id=151614 project_image_fid=371877]

The Riversdale sits at the northern end of Montague Road between South Bank and West End, around 1.3 kilometres from the Brisbane CBD, providing access to the city's major cultural, dining and recreation precincts.

It becomes Mosaic's largest Brisbane project to date and adds to a pipeline already under construction across the city.

In Brisbane, the developer is currently delivering The Bedford and The Carter at Kangaroo Point, both of which are approaching sell-out, with a further four projects being delivered on the Gold Coast. Mosaic has completed more than $2 billion in projects since 2012 and has a further development pipeline exceeding $2 billion across South East Queensland.

Early works are underway at The Riversdale, which will be delivered by Mosaic's in-house construction division. Completion is anticipated in late 2029, with remaining apartments priced from $1.98 million.

[smartcode_project_cta:default project_id=151614]

Mosaic records more than $400m in two months at South Brisbane's The Riversdale

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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A rare stage 1 DA approved site in Chatswood has hit the market.
Knight Frank has listed the 2,608sqm site that offers three street frontages across 654 – 666 Pacific Highway, 1 Freeman Road and 2A Oliver Road, Chatswood.
With an overall Gross Floor Area of 7,944sqm, the site can accommodate development of two residential towers of eleven and eight levels.
The site is being offered to the market with short term tenancies allowing developers flexibility.
According to Tim Holtsbaum, Knight Frank’s Director, Residential Site Sales, Chatswood is a tightly held market which continues to attract substantial interest from active developers.  
The property is being offered for sale with offers due July 1.
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jchancellor-FAypfDUnLy

Chatswood two tower development site on offer

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Developers from Asia and Melbourne have splashed out more than $25 million in a frenzied residential development site buying spree over the last 12 months as local planning laws open up new multi-unit development opportunities in the Melbourne bayside suburb of Bentleigh.
The demand for the sites has sparked a corresponding flurry of negotiations between neighboring home owners in Bentleigh to present larger development sites for sale at a premium to individual site values.  
In the latest off-market deal a Chinese developer is believed to have paid more than $4 million for a 1692 square metre site at 11-13 Bent Street, Bentleigh, after just two weeks on the market.
According to selling agents, Savills’ Julian Heatherich and Jesse Radisich, the site was a consolidation of four neighboring properties, whose owners came together seeking to maximize their returns.   
"This is another example of the extraordinary market that has emerged over the last 12 months driven by a change in planning laws which has coincided with a booming housing market," Mr Heatherich said.
"Developers are purchasing sites that are well located with favorable zoning while home owners are walking away with sale results well in excess of what individual sales would have realized. It‘s a real win-win situation.
Previous sales in Bentleigh in last 12 months have included
<ul>
<li>
     261 Centre Road – sold for $2.735 million to a local developer with a permit to develop 28 apartments;
</li>
<li>
     23 Bent Street - sold to a Chinese developer for $3.4 million with a permit for 27 apartments;
</li>
<li>
     14,16, and 18 Bent Street - sold to a Chinese developer for $5.76 million; 
</li>
<li>
     674 Centre Road - sold to a local developer for $1.32 million with a permit for eight apartments;
</li>
<li>
     15 Bent Street – sold to a local developer for $2.2 million with a permit for 17 apartments; 
</li>
<li>
     24-26 Vickery St – sold to local developer for $3.6 million.
</li>
</ul>
Mr Heatherich said the sales had generated hundreds of enquiries with a significant number from local and off-shore Asian buyers as well as local developers.
He said following State Government zoning changes, the local municipality, the City of Glen Eira, implemented the changes with the new `Urban Village Policy’ allowing for multi-storey development of up to four levels, 
"Glen Eira was the first municipality to implement the zoning changes and with Bentleigh one of the main high density areas in Glen Eira, it was subsequently re-classified as Bentleigh Urban Village," Mr Heatherich said.
Mr Radisich said Savills’ exceptional ties with off-shore based developers in Asia through its Asian office network had been the key to identifying potential purchasers. Savills has 21,000 staff in Asian cities including Beijing, Hong Kong, and Singapore.
"One of our advantages is Savills’ high profile in Asia. We have offices in China and several other Asian capitals established over more than 30 years. Asians know Savills.’’
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Bentleigh development sites Savills

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The Chevron Renaissance shopping centre at Surfers Paradise has sold to private investment company Precision Group for $73.2 million.
The centre has 13,127 square metres gross lettable space with car parking for 299 vehicles.
The centre features a Coles supermarket.
Max Brenner and Liquorland are among the 57 specialty tenants.
There are 20 commercial office suites.
Simon Rooney and Chris Key at JLL were appointed by Arena to sell the Chevron Renaissance.
Colliers recently noted, with the completion of the light rail mid-way through last year came renewed interest in Surfers Paradise with a swag of recent leasing deals for both retail and office space.
The EG Funds owned buildings, The Forum and Paradise Avenue have generated a flurry of recent deals totalling 1,098sqm of retail and 500sqm of office space leased.
Colliers agent Jason Martin (left in pic) said rates in the centre range from $600 to $800 per sqm.
Colliers agent Ed Howard said in the last six weeks, approximately 500 square metre of office space has been taken in three deals in the Forum including a 314 square metre full floor lease on Level 4 to marketing group XL Marketing. 
"The promotional rate for both the Forum and Paradise Avenue is asking only $280 + GST gross (including outgoings) per sqm per annum, PLUS rent free incentives making this space some of the best value for money offices available in the city."
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Surfers Paradise Chevron Renaissance sold for $73.2 million

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Melbourne based educational provider Impact English College is making their first move into the Brisbane market after signing a seven year lease through Colliers.
It is for 1,240sqm of space across three levels at 110 Eagle Street, with the lease commencement date of 1 June 2015.
Impact English College was established in Melbourne in January 2008, and since then has grown to become one of the largest and most respected English Language Colleges in Australia.
Its entire floor-space at 110 Eagle Street will contain 14 classrooms.
The college campus in Brisbane will eventually offer the same range of English language programs as the Melbourne College and possibly some new courses devised especially for the Brisbane market.
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Brisbane expansion for Melbourne English students college

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Popular South Korean restaurant chain Menya Sandaime will open its first restaurant in Australia in the Melbourne CBD following a lease deal negotiated by Savills Australia Victorian retail director, Michael Di Carlo.
Menya has taken a 10 year lease at 225 Russell Street, a 93 square metre shop.
Rents in the street have been in the vicinity of $2000 a square metre.
Michael Di Carlo said Menya Sandaime, which specialises in Japanese ramen dishes, chose Melbourne for its reputation as a multicultural community with a well developed appreciation of foreign foods.
The business is <a href="https://www.menyasandaime.com" target="_blank">third generation</a>. Its South Korean restaurant is open 24 hours a day.
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Korean restaurant leases on Russell Street, Melbourne 

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If politicians wish to stall on a difficult issue, they hold an inquiry.
If the issue is really thorny and they’re reluctant to confront it, they’ll hold two inquiries, with the second to begin after the first has ended.
This is what federal politicians have done with housing issues. 
All the core problems with housing could be solved if government stopped taxing it to within an inch of its life. Politicians won’t face that hard reality, because they’re addicted to the revenue they rip out of real estate. So they hold inquiries.
They spent all of last year and part of this one conducting an inquiry into housing affordability. Recently, having just handed down their findings from this long and expensive exercise, they announced another inquiry.
I have commented many times on the similarities between real-life government processes and the 1980s television series Yes Minister. Those who thought Yes Minister was a comedy were mistaken. It was a documentary.
According to the Yes Minister philosophy, the best way to do nothing on an issue, while giving the appearance of action, is to hold an inquiry. The longer it lasts and the less it achieves, the better.
This means you can hold press conferences, issue media releases, express lots of moral outrage, point the finger of blame in various random directions but ultimately change nothing. 
The perfect outcome of a smokescreen inquiry is to identify an unpopular minority and make them the scapegoat for all the perceived problems. 
If you think I’m being a tad cynical, consider this chain of events. On 12 December 2013, the Senate referred an inquiry into affordable housing to the Senate Economics References Committee and asked it to report by 26 June 2014. On 17 June 2014, the Senate granted an extension to the committee to report by 27 November 2014. On 2 October 2014, the committee was granted a further extension to report by the first sitting day in March 2015. On 2 March 2015, the committee was given yet another extension and was scheduled to report by 14 April 2015. On 13 April 2015, the committee presented an interim report, with the intention of tabling its final report in May 2015.
This long-winded and bumbling inquiry, which was almost a year late in delivering its findings, produced nothing of value. One example was its conclusions on negative gearing, one of the fundamental issues it sought to examine. The Senate Economics References Committee’s final report found that negative gearing “probably” had “a detrimental effect” on housing affordability, but they weren’t sure. The committee said that it was also unable to clearly determine what effect negative gearing had on rental affordability.
In a word, pathetic. They were given 11 extra months but they came up empty.
But the inquiry served its primary political purpose. It identified a scapegoat. Foreign investors, despite their small numbers and minimal impact on housing markets, were deemed the culprits for rising prices and poor affordability. 
This allowed the Federal Government to look tough while threatening all kinds of consequences (including jail) if foreign investors broke the rules. This was justified, the Prime Minister said, because it would help first-home buyers. He was unable to explain how. And that was because it was bullshit.
Within days of the committee delivering its tardy report, federal politicians compounded their failure by announcing, don’t laugh, another inquiry.
The new inquiry, by the House of Representatives Standing Committee on Economics, will allegedly examine rates of home ownership, supply-demand drivers in the housing market, the proportion of investment housing relative to owner-occupied housing and the impact of current tax policy at all levels. 
I almost fell off my chair when I read this, because the answers to all of those questions are well known. Anyone who doesn’t know the answers could discover them with 10 minutes on the Internet. Our 17-year-old could write a quick assignment on it because they’ve been studying real estate at school.
But of course the objective is not to find answers and make changes. The goal is to achieve further delays, distractions and diversions.
No one has the political will to take action on the fundamental problems, especially the taxation component in the cost of new dwellings. Lots of research has been done on this already. The facts are well known.
The committee chairman John Alexander set the tone for another drawn-out waste of money and lots of people’s time with a series of motherhood statements including this classic: “Home ownership is an issue that lies at the core of the Australian dream and represents the largest investment that most taxpayers will make during their lifetime.” 
Stunning stuff. With any luck, Alexander and his mates should be able to drag the process out until at least 2017, before recommending a royal commission.
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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Stall tactics and the great inquiry: Terry Ryder

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John Fraser, the Commonwealth Treasury secretary, says Sydney was in a housing bubble.
The senate hearing this morning, reported by the ABC, noted he said that there is no doubt in his mind there is a Sydney housing price bubble.
"When you look at the housing price bubble evidence, it's unequivocally the case in Sydney. Unequivocally," he said.
"Frankly, whatever the data says, just casual observation can tell you it's the case."
The latest CoreLogic RP Data statistics actually show that <a href="/expert-insights/buying/apartment-price-decline-mays-most-marked-trend-corelogic-rp-data">home prices went backwards last month</a>, everywhere except Darwin and Canberra.
John Fraser, who sits on the Reserve Bank of Australia board, advised there was little sign of a housing bubble outside Sydney and the higher-priced end of the Melbourne market.
But he expressed concerned about the size of investment in property buying and even restoration projects.
"It does worry me that the historically low level of interest rates are encouraging people to perhaps over invest in housing," John Fraser said.
<div class="cq-article-content-paras section">
"I"m not just [talking] about buying housing, but I'm talking about investing in housing."
</div>
<div class="related-quotes section">"You just have to see these renovation shows … to realise something is amiss."</div>
<div class="cq-article-content-paras section">
Mr Fraser said the house price problem was particularly confined to certain markets.
"It does seem a little bit like a feeding frenzy, but when you get out of those suburbs into the outer suburbs it's less the case."
<a href="https://www.finder.com.au/rba-cash-rate" target="_blank" style="line-height: 1.3em;">Australia's biggest Reserve Bank survey</a> conducted by finder.com.au found that although the cash rate was expected to remain on hold tomorrow, Tuesday June 2, there could be another cut this year. 
</div>
<div>But with high property prices and interest rate hikes forecast for next year, more borrowers are expected to start fixing their home loans.</div>
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Sydney's unequivocal housing bubble: Commonwealth Treasury secretary John Fraser

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There were 2,727 homes taken to auction this week, up from 2,599 over the previous week. The preliminary clearance rate was recorded at 78.9%, down slightly from 79.1% last week, making it the tenth week in a row where the combined capital city clearance rate has been above the 77% mark. Although auction volumes were higher at the same time last year (3,072), the auction clearance rate was lower, at 66.4%.
<img src="/images/2015/06/01/shana1.jpg" alt="" width="905" height="687">
 
In Melbourne, Australia’s largest auction market, there were 1,221 auctions held across the city. Of the 1,053 results reported so far, the preliminary clearance rate is 78.3%. In comparison, last week, Melbourne recorded a final clearance rate of 82.1% across 1,162 auctions. One year ago, Melbourne’s clearance rate was recorded at 65.4% across 1,356 auctions. Across Melbourne’s sub-regions, the Inner region had the highest number of auctions this week (296), with a preliminary clearance rate of 73.8%, while the Outer East region of Melbourne had the strongest result, with 88.8% of reported auctions selling.
 
<img src="/images/2015/06/01/shana2.jpg" alt="" width="842" height="573">
 
Across Sydney, 1,120 homes were taken to auction this week with a preliminary clearance rate of 86.5% across 882 reported results. Last week, 1,018 Sydney properties were taken to auction with a clearance rate of 86.2%. At the same time last year, Sydney’s auction clearance rate was 73.0% across 1,316 auctions. This week, across Sydney’s individual sub-regions, Baulkham Hills and Hawkesbury (94.7%), City and Inner South (92.5%), Inner West (92.3%) and Sutherland (91.2%) regions all recorded strong preliminary clearance rates.
 
<img src="/images/2015/06/01/20150531-Sydney.jpg" alt="" width="863" height="582">
 
This week, Brisbane’s preliminary clearance rate was recorded at 52.1%, up from 46.2% last week and 42.5% at the same time last year. There were 209 Brisbane auctions this week, compared to 159 last week and 219 last year. The GoldCoast’s preliminary clearance rate was 40.3% across 62 results this week.
 
<img src="/images/2015/06/01/20150531-Brisbane.jpg" alt="" width="869" height="585">
 
 SHANA MILLER is a research analyst at <a href="https://www.myrp.com.au/" target="_blank" rel="nofollow">RP Data</a>.
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Combined capital clearance rate above 77%: Shana Miller

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Now more than ever I’m totally convinced that the vast majority of property commentators subscribe to the theory of inductive reasoning when they want to get their points across pertaining to the Australian residential property markets.  
Wikipedia describes “inductive reasoning (as opposed to deductive reasoning or abductive reasoning) is reasoning in which the premises seek to supply strong evidence for (not absolute proof of) the truth of the conclusion. While the conclusion of a deductive argument is certain, the truth of the conclusion of an inductive argument is probable, based upon the evidence given.”
Now here is the dilemma that the prime minister faces with the Australian property markets and whilst nobody talks about this I’d be letting you down if I didn’t tackle this highly controversial topic of conversation.
Now the problem was created by Kevin Rudd when he was prime minister and for some strange reason (and I mean strange) his actions have not been corrected given these actions lie at the heart of Australia’s ongoing property boom – in my opinion this is disastrous policy.
In December 2008 property developers were restricted where only 50% of a new development could be sold off the plan to foreign investors. Kevin Rudd then changed the ratio to 100% and that figure is still in place today. Just as strange is that nobody is debating this figure where given the strength of the real estate markets today I would be happier to see these developments restricted to say 25% or even lower.
Even stranger was when in 2008 – 09 Kevin Rudd removed all foreign ownership rules meaning that foreign buyers could acquire pre – existing property which was shut down again in late 2010. I would argue that this opened the door to foreigners buying pre – existing properties and this still continues today given that everyone is only too well aware that the federal government does not track real estate transactions.
The sad reality is that today nobody knows just how many properties have been illegally acquired given the government is doing absolutely nothing about this. They will say that they are using inductive reasoning to solve this almighty mess. The question that really needs to be asked is why does the Australian government still allow 100% of off – the – plan sales to go offshore which is driving the prices up, given foreign buyers will always pay a premium price to secure Australian residential real estate?
An obvious response from property developers would be that they would stop developing given overseas buyers are the strongest peak market for new residential properties. No doubt they would be in all probability active in political donations too. Property developers are posting record profits thanks to 100% of off the plan sales being allowed by the Australian government to be sent offshore. This also explains why Chinese developers are now buying up the majority of development sites given an entire development can be sold in just a matter of hours. This of course is the major ingredient that is driving property prices for new properties to record highs – yet the federal government is saying and more importantly doing nothing to correct this 2008 – 09 horrific property policy.
Recently I touched on Lots of positives from discussing negative policies although nothing happens in Canberra. The NSW government is in the process of merging councils, given they stand in the way of new developments when today we have a massive housing shortage. The Mike Baird government has embarked on a plan that will see 664,000 new homes built by 2031 – developers know full well that the vast majority will be sold offshore given the absurd 100% rule permits this.
Making matters worse is that the Abbott government constantly dismisses the need for their government to have a housing minister.
The Property Council of Australia announced this week that the property sector now contributes more to Australian gross domestic product than mining. The property sector is estimated to generate 11.5% of GDP, employs 1.1 million Australians and pays $72.1 billion in state, federal and local real estate taxes each year.
Of course the inductive reasoning argument from Canberra will be along the lines of Infrastructure Australia predicts Sydney’s population will reach 6.1 million in 2031. In 2015 the population estimates come in at around the 4.9 million which is an extra 1.2 million people which works out at 80,000 per year. 
Maybe we should add to that statistic that all the landlords will be foreign buyers living overseas – or is that inductive reasoning? Whatever the reasoning the question needs to be asked just why the 100% ratio has not been wound back? 
We all know that this is disastrous policy unless you’re a property developer (and real estate agent of course.)
 
 MOSMAN – 2088
• Number of houses on the market this time last year – 85
• Number of houses on the market last week – 65
• Number of houses on the market this week – 68
• Number of apartments on the market this time last year – 64
• Number of apartments on the market last week – 47
• Number of apartments on the market this week – 46
 
CREMORNE – 2090
• Number of houses on the market this time last year – 8
• Number of houses on the market last week – 5
• Number of houses on the market this week – 8
• Number of apartments on the market this time last year – 16
• Number of apartments on the market last week – 10
• Number of apartments on the market this week – 13
 
NEUTRAL BAY – 2089
* Number of houses on the market this time last year – 4
• Number of houses on the market last week – 6
• Number of houses on the market this week – 7
• Number of apartments on the market this time last year– 44
• Number of apartments on the market last week – 29
• Number of apartments on the market this week – 26
Robert Simeon is a director of <a href="https://www.rwm.com.au/" target="_blank" title="RWM" rel="nofollow">Richardson Wrench Mosman and Neutral Bay</a> and has been selling residential real estate in Sydney since 1985.  He has also been writing real estate blog <a href="https://www.rwm.com.au/news/" target="_blank" title="Virtual Realty News" rel="nofollow">Virtual Realty News</a> since 2000. 
<a href="https://www.rwm.com.au/2015/05/29/burning-property-question-tony-abbott-must-answer/" target="_blank"> </a>
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The burning property question Tony Abbott must answer: Robert Simeon

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I was watching a news program recently when on came Sir Richard Branson. I find him such an inspiring entrepreneur and so my ears pricked up. 
Sir Branson was talking about how he suffers from dyslexia and has trouble understanding some information. He went on to tell the story of at the age of 50 after building up Europe's largest group of companies, he was sitting in a board meeting when results were being discussed and he looked up from the spreadsheet and asked if that was good or bad result? 
The director said to him, 'Richard, I don't think you know the difference between net and gross?'
He owned up and admitted that was the case. The director then pulled out a piece of paper, and drew a picture of a sea full of fish and then he drew a fishing net with some fish inside it. He explained, 'Well, the fish that are in the net, that's your (net) profit at the end of the year, and what's outside is your (gross) turnover.'
The interesting point about this little story is that here is a multi billionaire who openly and happily admits that he didn't understand one of the more basic accounting terms. He went on to say.."...that is it doesn't matter too much. I mean, it's useful to be able to add up and subtract and maybe multiply. And apart from that, you can create an empire with 60,000 employees and find other people to add up the numbers at the end of the year."
How true. His strength is his creativeness and he looks to hire his weaknesses.
There is no difference when you apply Sir Branson's philosophy to property investing and developing. When there is so much to know why not hire what you don't?
When developing property you'll need to start with knowing the difference between a good development site and a bad one.
Then knowing all the costs involved so you can run your feasibility. You'll need a good understanding of the local council's policies so your Development Application will be approved. Then you'll need to know how to choose a good builder and understand their contract. A good understanding of the building process is essential and finally knowing the people you'll work with, having relationships in place so that your development runs smoothly.
But the main thing you'll need is actually nothing you need to know, it's something more important. Time.
Whether it's your first property development of fifth, every development is different and having time to run the development is essential.   
Like Sir Richard Branson, if you make the most of your strengths and hire out your weaknesses then you are sure to move forward at a faster pace.
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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