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

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Forget about the folks - asset wealthy part pensioners - passing down the holiday home. 
Treasurer Joe Hockey's 2015 proposed pension change will ensure that elderly parents will have to liquidate the longtime family holiday home to afford to live under any new asset test regime targeted at existing pensioners facing the end of their entitlement.
However couples approaching retirement - and aware of the rules in advance - will possibly compromise on their superannuation voluntary contributions - or sell one of the two $400,000 investment properties - and instead push the funds towards buying an untaxed, un-counted bigger, better home that can be beneficially sold later in retirement.
Without the pension, the immediate likelihood after any January 2017 implementation is that it will be no longer feasible for the grandparents to hold onto the beach house - perhaps initially at least putting it in the 2017 Christmas holiday rental pool to raise some funds to pay the rates and put food on the table.
Social Services Minister Scott Morrison has flagged proposed changes to the pension assets test saying that 91,000 current part pensioners will no longer qualify for the pension and a further 235,000 will have their part pension reduced.
If the legislation is passed, the government will reduce the maximum value of assets to qualify for a part pension, which for couples is currently up to $1.15 million plus the family home.
For couples who own their own home, the asset threshold will be reduced to $823,000.
For single home-owners, the assets test cut-out will be $547,000, down from $775,500.
It is currently suggested people who lose their pension are set to keep the Commonwealth Seniors Health Card which provides access to concessional medicines, but lose their Pensioner Concession Card which secures discounts at the state level on rates, transport and utilities.
Over-55s hold 58% per cent of Australia’s wealth. But the majority is locked up in the family home.
News Ltd papers reported Scott Morrison had only kind words for those retirees who will lose access to the pension.
"My first word to the 91,000 is to thank them for providing for their own retirement," he told reporters in Sydney on Thursday.
"Those affected by these changes have assets, and by drawing down on those assets to those modest amounts they will be in a position to maintain their incomes."
The proposal presents anxiety for the over-50s population, currently 7 million and expected to double by 2050.
Through paid employment, volunteering and care-giving roles, older Australians are estimated to contribute $90 billion a year to the economy and community, the National Seniors Australia recently reported.
The family home, often the most valuable asset Australians own, both materially and emotionally, will remain outside the age pension means test under the proposal.
But the 2015 budget has yet to emerge as providing any solution for older Australians who require age-appropriate housing, which can be secured by rightsizing.
Infact quite the reverse is now the logical prospect in the lead up to the 2017 implementation given the principle place of residence remains sacrosanct in government policy.
"An innovative approach is required to enable seniors to access their equity wealth and downsize without the additional risks and disincentives of reverse mortgages, and without the fear of a negative impact on their Age Pension," National Seniors Australia seek.
The former Labor government’s Housing Help for Seniors pilot scheme, announced in the 2013-14 budget, was deemed a step in the right direction, however, the restrictions on the use of the excess sale funds and requirement to have lived in the home for 25 years, restricted its usefulness to older Australians. 
“A significant number of older Australians will be adversely impacted, so it is critical that clear information and access to advice are a priority so they can consider their position and the adjustments they may need to undertake,” the National Seniors Australia chief executive Michael O’Neill said.=
“These changes will cause anxiety, particularly for those older Australians who have been in receipt of a part pension.”
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jchancellor-FAypfDUnLy

Upsizing homes before retirement - and forget passing down the holiday shack: Joe Hockey's 2015 budget pension implications

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Mother's Day always makes me reflect not just on my beautiful family but also on where I'm at on my property investment and business journey.
You see I started investing when I was pregnant with my first son and launched Property Bloom, my development project management business just after he was born.
He's turning fourteen this year and my youngest will be eight soon. setting up an investment portfolio, running a family and a business has been my labour of love during this time and I've had a good time with it. 
Slowly over time I've been teaching my sons little things about saving and investing. My goal is for them to each buy their first property when they turn eighteen. I've set up a savings account for them both that will hopefully contain enough for a deposit by then. I guess I'll probably have to guarantee their loan but I'm looking forward to helping them choose their first property very carefully as it will need to have high cash flow as I assume they won't be earning too much at eighteen - but they will be earning. The part time jobs I had as a kid gave me some great experience and good foundations of responsibility.
Planning for this first investment will be one of the legacies that I leave them. Can you imagine buying your first property at eighteen?  I wish I had of, imagine its value now?  I can almost hear them say when they turn thirty..."I'm so glad mum taught us to start our property portfolio at such a young age."  Well that's what I'm hoping they'll say anyway.
Out of interest, I asked my eldest son to write down five things he thought about me as a mother; I said it can be good, bad or ugly. This is what he wrote: "reliable, loyal, loving, funny and smart (in that order)"
I notice he left out anything to do with cooking (there's a good reason)!  I'm pretty pleased with that list I think.  He elaborated a little by saying "mum you are all these things because I see you work hard and you do so much for us. Also, you have to be reliable as you are looking after your client's property developments!"  well that's true.  I asked him if I really was funny? and he said ''yes but only sometimes".
That pretty much does me for a Mother's Day present then, those five words make my heart sing.
Happy Mother's Day to all the mums out there, I hope you get showered with loving words too (the odd bunch of flowers won't go astray either!).
<a href="https://www.propertybloom.com.au" target="_blank">www.propertybloom.com.au</a>
 
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jochivers-wq5Bp59R5a

Five words that made my Mother's Day: Jo Chivers

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It appears media reports that billionaire Tony Fung has purchased the Sheraton Mirage Gold Coast for $160 million are premature.
“Pearls Australasia, owner of Sheraton Mirage Resort and Spa Gold Coast, has not confirmed the sale of the resort and continues to consider perspective owners via sales agency, McVay Real Estate, as reported today in the media,” came the ensuing media statement.
“An announcement will be made by the owning company once a sale agreement has been settled in full."
“The recently refurbished Sheraton Mirage Resort and Spa has been managed as a Sheraton branded resort for 27 years, and a long term management contract is in place with Starwood Hotels and Resorts Asia Pacific Pty Ltd to operate the resort as a Sheraton into the future,” <a href="https://www.hotelmanagement.com.au/2015/05/06/exclusive-owner-denies-sheraton-mirage-gold-coast-sale/" target="_blank">the statement to website hotelmanagement.com.au said</a>.
The Australian said Fung revealed to the publication “his vision to develop the five-star beachfront Sheraton Mirage and Marina Mirage into an integrated casino resort precinct”.
Fung is also busy proposing to develop the Aquis Great Barrier Reef casino resort near Cairns.
Pearls Australasia had been expected to fetch around double the $62.5 million the company paid for the property in 2009.
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Sheraton Mirage Gold Coast sale mystery

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Sydney’s property market is continuing along a stellar growth path, with auction clearance results surpassing 90% and dwelling values increasing 13.9% since March last year*. With the growth rate not showing signs of slowing, experts are warning of another property bubble. Is this the case?  
Sydney’s market is certainly very bullish. Capital growth is strong and buying and selling activity has exceeded expectations. While most commentators expected the market to ease to steadier levels in 2015, to around 5-7% growth, the market is continuing to defy our predictions. We are now in unchartered territory but this is nowhere near a bubble. Instead, Sydney is evolving into a new market where conditions are unpredictable, competition is high, and the pool of affordable housing is drying up.
Despite strong sales, a worrying trend in this new market is a lack of owner-occupier housing. The vast majority of buyers are now investors and fewer buyers are moving into a new home. Property purchases are not following a linear path as they did in previous generations and the new generation of buyers are struggling to compete. Investors are also buying with a long-term view, with many planning on leasing their property for 10 to 15 years or more.
Sydney is also facing a serious housing undersupply. By 2031, Sydney’s metropolitan population is expected to grow to almost 6 million people; the total number of homes needed to meet this projected demand is 2,338,100**. While building up has been one solution, foreign investors are snapping up Sydney developments in droves and in bulk, reducing stock for local buyers. Many of these properties, are also ideal for first home buyers.
Is now the time to buy, or should you wait for prices to cool? Here are 7 tips.
1. Don’t second-guess the market
In an unpredictable market, trying to pinpoint the ideal time to buy where the odds are in your favour is a difficult game. You may never know. I see buyers stall on their decisions by trying to second-guess. If you find a property you can afford that fits your needs, deciding to wait for a better option or a drop in price means you may miss out on a good opportunity.
2. First impressions aren’t always the last 
Don’t disregard a property because it doesn’t fit the aesthetic you had in mind. While properties built in the past 15 years may require less maintenance, older properties often feature double-brick walls and more spacious living and sleeping areas compared to properties built more recently. If the property you admire does require renovation, scale up the costs as a buffer to cover you when planning your budget.
3. Broaden your search 
To enter the market, you may need to consider suburbs that might not be your first or second preference. Sydney has a number of suburbs on the cusp of regeneration that offer great value such as Roseberry, Botany, Mascot, Rockdale, Baulkham Hills, and Penrith. By keeping your suburb search pool too slim, you risk cutting yourself off from other opportunities. Your ideal home might be a few suburbs away from your ideal suburb.
4. Focus on the bigger picture
Base your decisions on your property goals. Are you looking to climb the property ladder? If so, your first or second purchase is unlikely to be your last. Use your purchase as an opportunity to earn capital gains and release the equity to put toward your next purchase. The new market is not linear, so be prepared to go on a journey as you progress. I also recommend buying with a business rather than emotional mindset.
5. Get on the list 
If you’re looking to buy within a new development, I recommend doing your homework to stay a step ahead. Call local councils in areas where you would consider buying to identify any new residential plans. Ask to be on their mailing list for any updates and news. Many real estate agencies also have relationships with developers, so use them as a source of information to stay on the pulse.
6. Avoid stretching your budget 
Sydney’s market is significantly competitive and this is pushing up prices. Know your limit. Property is an expensive life investment. If you find yourself going beyond your limit to afford an increase in the asking price, knowing where to draw the line is an important life skill. Be responsible, make wise choices and seek guidance from a financial advisor.
7. Keep the faith 
If the search has been arduous and you’ve given up hope, you may find yourself developing a resentful attitude towards the market. Don’t succumb. Many buyers go through this phase at some stage in the property life cycle. If things aren’t working out, consider taking a step back to reassess and readjust your strategy. Taking some time away from the market may help you gather perspective before you make your next move.
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douglasdriscoll-EkfdEjJSsC

Sydney battles along strong: Douglas Driscoll

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International retailer Muji has announced it will open its first flagship store in Sydney on May 14.
<a href="https://www.facebook.com/muji.au" target="_blank">The homewares store </a>will be at The Galeries.
The Japanese emporium has more than 600 outlets worldwide, plus two stores in Melbourne, including Chadstone Shopping Centre. 
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Muji to open flagship Sydney store

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Federation Centres (FDC) announced its update for the quarter ended 31 March 2015 delivering net operating income up 3.6% for the nine months to March 2015 compared to the prior corresponding period. 
The leasing spread was maintained at 3.2%, in line with the half year result, with 585 transactions completed for the nine month period. 
Annual sales growth for the year to 31 March 2015 was 1.0%, with specialty retailers recording annual sales growth of 2.3%. 
The occupancy rate was 99.4%.
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Federation Centres chief Steven Sewell noted ongoing strength in the specialties category. 
 
<img src="/images/2015/05/06/Picture%2020.png" alt="">
Source: FDC 
There was also an improvement in the Discount Department Stores and Department Stores categories, compared with their December 2014 annual sales performance. 
Mini Majors performed well, although sales moderated as new entrants in this category saw sales stabilise after buoyant initial trading.
Redevelopments at Warriewood Square in New South Wales and Halls Head in Western Australia are progressing well and initial works have commenced for the second stage of the redevelopment at Colonnades in South Australia. 
Approval for redevelopment plans for Mandurah Forum was also recently received. 
<img src="/images/2015/05/06/Picture%2021.png" alt="">
Source: FDC 
The first stage of the Cranbourne Park redevelopment opened on time and fully leased during the quarter.
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The previously announced sales of Woodlands in Queensland and Mildura and Warrnambool in Victoria all settled during the quarter.
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Specialities retail strength reported by Federation Centres 

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The former site of the Cabramatta Fire Station has sold at auction for $2.1 million to a local Asian investor, the Lu Group.  
The 613 square metre site sits on Cabramatta Road West attracted strong interest from developers and investors.
It was sold by Colliers agent Harry Bui with a floor Space Ratio (FSR) of  1.5:1 with maximum height limit of 10 metres. 
Harry Bui advised 15 buyers attended the auction for Fire and Rescue NSW.
With a B4 Mixed Use zoning under the Fairfield LEP 2013, the site may be developed for retail, commercial and residential use.
The district's first Fire Brigade was established elsewhere at Cabramatta in January 1928 as Brigade Number 49 on Railway Parade.
The station was also known as Cabramatta-Canley Vale with the first permanent staff were appointed to the station in 1955. 
Cabramatta Fire Station was incorporated into the Sydney Fire Department in 1959. 
A new station was established in 1969 on West Cabramatta Road.
In 2000, Cabramatta Fire Station was located at 259 Cabramatta Road in West Cabramatta.
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 Former Cabramatta fire station sells for $2.1 million

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The latest research from Norwest Cityscope shows a substantial decrease in the total value of sales over the last quarter.
For the three months to April 2015, there were 35 sales at a total value of $64.6 million, compared to 38 sales at a total value of $148.1 million for the three months to January 2015.
However, the most recent quarter shows an appreciable increase to the quarter ending October 2014, when there were 35 sales at a total value of $15.2 million.
The figures for the year ending April 2015, of 146 sales at a total value of $247.6 million, represent a considerable increase on those for the year ending April 2014, when there was a total of 142 sales at a total value of $128.3 million.
Significant properties for sale in the April 2015 update of Norwest Cityscope include:
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<li>Part of Hills Corporate Centre, 15 Brookhollow Avenue, Baulkham Hills, a two-storey office building with warehouse space, available through Coutts Industrial Real Estate; and</li>
<li>An office/warehouse unit of 1,384 sqm with parking for 32 vehicles at 18 Lexington Drive, Bella Vista, at an asking price of $3.65 million through Norwest Commercial and Industrial.</li>
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Significant leasing opportunities in Norwest Cityscope include:
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<li>Century Estate, a group of commercial and industrial buildings on a 54,390-sqm site with parking for over 500 vehicles at 2 Solent Circuit, Baulkham Hills, which has up to 3,120 sqm of office space available through Norwest Commercial and Industrial;</li>
<li>The aforementioned Norwest Quay, which has up to 2,640 sqm of office space available through Colliers International Sydney West and Norwest Commercial and Industrial; and</li>
<li>Norwest C3, a group of three four-storey office buildings with a net lettable area of 15,099 sqm and parking for 682 cars at 3 Columbia Court, Baulkham Hills, which has office space of 450 to 2,200 sqm available through Norwest Commercial and Industrial and CastleCorp Real Estate (pictured above).</li>
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Notable sales recorded in the April 2015 update of Norwest Cityscope include:
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<li>Norwest Quay, a four-storey office building with a net lettable area of 10,836 sqm and basement parking for 427 vehicles at 21 Solent Circuit, Baulkham Hills, which sold for $38,915,306;</li>
<li>A 16,000-sqm site of vacant land at 26 – 28 Norbrik Drive, Bella Vista, which sold for $5,202,344; and</li>
<li>The 8,170-sqm site of the Quest Serviced Apartments development at 24 Norbrik Drive, Bella Vista, which sold for $3,550,000.</li>
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Norwest, Sydney commercial property insights: CoreLogic RP Data Citiscope

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The Salvo Property Group has paid $6.28 million for a Southbank residential development site.
The<a href="https://www.realcommercial.com.au/property-land+development-vic-southbank-501442827"> 39-51 Hancock Street</a> property is a vacant 632 square metre block on the corner of Clarendon and Hancock Streets abutting the Westgate Freeway.  
Savills’ Nick Peden and Clinton Baxter, who brokered the deal, said the property was originally acquired by VicRoads in the 1970s for construction of the Westgate Freeway.
It was positioned within the Capital City Zone which permits and promotes higher density development up to 100 metres (or 33 levels) in height. 
The Salvo Property Group has a reputation of creating affordable luxury.
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Salvo buy Southbank site through Savills

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The Torrens Building, one of Adelaide's most notable surviving purpose-built Government office buildings, has been listed for sale.
Completed in 1881, it was the largest public building of its period and one of the largest buildings in the city.
It was used continuously for Government Offices for over a century, with notable occupants including the Registrar-General.
The building is regarded as the best remaining example of Renaissance Palladian style architecture in Adelaide, set on the eastern side of Victoria Square.
It is among a raft of buildings the State Government has signalled will be put up for sale.
The InDaily website noted others included “the State Administration Centre, Education Building, Wakefield House, Torrens Building, 12 Victoria Place, vacant land known as Hemmings Place and 24 Flinders Street”.
A boom in land speculation and a haphazard grant system resulted in the loss of over 75% of the 40,000 land grants issued in the colony of South Australia in the early 1800s so to resolve the deficiencies of the common law and deeds registration system, Robert Torrens, a member of the colony's House of Assembly, proposed a new title system in 1858, and it was quickly adopted.
The Torrens title system was based on a central registry of all the land in the jurisdiction of South Australia, embodied in the Real Property Act 1886 (SA). 
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