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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A Ritchies Supa IGA Supermarket in Taree sold recently to a Sydney eastern suburbs family for $7.82 million.
It reflected a 7% yield – possibly a record for a regional NSW supermarket, according to the Burgess Rawson selling agency.
It is leased to 2027 with options to 2047 guaranteed by ASX listed Metcash. With a building area of 3,126 square metres, it is adjacent to a council owned car park.
<a href="https://www.realcommercial.com.au/property-retail-nsw-taree-501490027" target="_blank">Its net income </a>is $545,939 per annum plus GST.
The same vendor secured $1.9 million for the adjacent Manning Street retail space rented to the Reject Shop.
It was a building area of 1,000 square metres with a net income of $145,880 per annum plus GST.
The two holding sold at $6 million in 2013 when JRDM Pty Ltd bought from Morgan &amp; Griffin Pty Ltd.
In 2013 fund manager Moss Capital, run by former Macquarie Bank director Bill Moss, acquired the Manning Mall in Taree from Mirvac for $32.6 million.
<a href="/expert-insights/investing/moss-capital-plans-more-shopping-centre-acquisitions-after-32-6m-manning-mall-taree-purchase">The sub-regional shopping centre</a> in the Mid North Coast NSW town has 11,300 square metres of retail space, anchored by Target and Coles.
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jchancellor-FAypfDUnLy

Taree IGA sells at $7.82 million

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How hot will it go?
Fire &amp; Rescue NSW have listed their former fire station, 259 Cabramatta Road, Cabramatta for sale at 2 May auction.
The district's first Fire Brigade was established 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.
There's nothing flash about the firestation, so will be <a href="https://www.realcommercial.com.au/property-land+development-nsw-cabramatta-501513403" target="_blank">a knock down </a><a href="https://www.realcommercial.com.au/property-land+development-nsw-cabramatta-501513403" target="_blank">development</a><a href="https://www.realcommercial.com.au/property-land+development-nsw-cabramatta-501513403" target="_blank"> site </a>opportunity when sold by Colliers agent Harry Bui.
The 613 square metre site is located on the northern (eastbound) side of Cabramatta Road at the junction of Hill Street approximately 500 metres from Cabramatta Train Station and adjacent to the Public Council Car Park at the rear.
It is zoned B4 Mixed Use allowing retail, commercial and residential. There is a floor Space Ratio (FSR) 1.5:1 with maximum height limit of 10 metres.
His locals sales have included the BKK Shopping Centre for $20 million and the Cabramatta City Centre for $18.1 million.
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Former Cabramatta fire station to test development market heat

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The first thing you need to do is come up with some creative ways to address this and still maintain your sanity, at the same time.
But no matter what your approach may be, there are several things you always need to do.
1. Secure (or compile) a Target List of Potential Tenants
<ul>
<li>This may be by geography (ie: businesses located in the surrounding area); or</li>
<li>It may be by business category (ie: types of businesses you feel your property would ideally suit).</li>
</ul>
The geographical approach is best suited to industrial property.
In which case, you simply get in your car and drive around the nearby streets — noting down the firms who occupy premises of roughly the same size as yours.
But what about the list by business category?
No matter how old-fashioned as this may sound, you will find it best to start with a hard copy of Yellow Pages.
Using your category list, you look up those specific business types located in and around where your property is located.
Exactly how many categories (and how far you spread from your property) is up to you. However, I would probably be suggesting eight to 10 business categories; and maybe as far away as 5 kilometres.
In any event, you should be looking to come up with a list of around 300 firms to call. That way (and based upon my 2% success rate), you should then end up with between five or six potential starters.
2. WHO is the Key Person you should speak to?
Interestingly, it's not always the CEO. Sometimes it will be the office manager; other times, maybe the financial controller.
You may need to have someone else call up beforehand, to establish exactly who the decision-maker is so that you can ask to be put through to that person, when you call.
Now you've compiled your list of target firms to contact and identified the key people involved, you may find it helpful to actually role-play a couple of very successful tele-scripts.
Bottom line: Hopefully, this has gives you a few fresh insights into just how easy it is for you to make your cold calls and be successful — whenever you have a vacancy, even in a tough market.
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chrislang-EQKojcgJPV

What can you do when your tenant leaves? Chris Lang

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The internet has become a fascinating tool; it’s revolutionised how we do business today but it has also caught many governments off guard. Not to mention made them more accountable as strange as that may sound. 
For example, I have been for some time now mystified about how Australia’s house market continues to soar with Sydney prices up nearly 15% just in the past 12 months. Our unemployment rate sits at 6.1% which is the highest rate (or thereabouts) for 13 years, where of all developing countries Australia’s is the only rate increasing. And real wage growth is now at the weakest level for two decades.
Deutsche Bank has just released its fourth annual Mapping the World’s Prices report and for the fourth year in a row Australia sits at the top of the list for being the most expensive. Yes Australia is now into its 24th year of uninterrupted growth – a feat no other developed country has been able to replicate. It must have been release week as the International Monetary Fund also produced its World Economic Outlook which has economic growth still on target at 2.8% for 2015. Before we get too excited they also thought that Greece will be the strongest Eurozone economy over the next few years too.
Whilst businesses and individuals have been using and adapting this online phenomenon the same can’t be said for a government, the best case at hand is that they have no idea just who is buying Australian real estate. In 2014, I and others started writing and probing this actual point about foreign investors in Australia. This brought the treasurer Joe Hockey on 19 March 2014 to announce an inquiry and report on ‘Australia’s foreign investment policy as it applies to residential real estate’. 12 months on nothing has actually happened so it would appear that such a debate might be construed as not being politically correct. Treasurer Hockey did announce to all and sundry that he had sought a divestiture order on the $39 million sale of Villa del Mare in Point Piper – although despite claims of more to come no announcements have been made. One might think that the backlash of sentiment coming from Asia may have seen these forensic investigations put on the back-burner?
Let’s face it – Australia is one very popular destination especially when you look back at what Philip Ruddock as Immigration Minister had to say in a speech back in 2000. Back then official projections suggested that Australia’s population would reach 24 million by 2050. Just 15 years later those population targets have almost been met with the latest projections having our population as now likely to be 40 million by 2050.
I read a report recently that the Master Builders of Australia estimated that overseas buyers make up approximately 5 to 6% of Australia’s housing market. The Foreign Investment Review Board (FIRB) figures show for the year from July 2013, $24.8 billion in foreign investment was approved, 44% higher than the previous year.
It’s now common knowledge that the FIRB have failed miserably in their assigned duties. The problem we have is twofold. Firstly, the government has no way of precisely knowing exactly how many properties are being acquired by foreign investors – I would suggest that realistic estimations should be more than double what the FIRB are suggesting. The only way to know for sure would be to extrapolate the stamp duty data and then run that through the Australian Taxation Office data – and we all know that won’t be happening anytime soon.
Secondly the big property market mover in Sydney especially is the rezoning of high – density residential land into new developments. Previously this was a domain dominated by Australian developers who now can’t compete with the Asian developers. Given that it’s legal to buy new off the plan, these developments are then re-sold exclusively in Asia.
So what we are clearly seeing is the Asian property developers paying much more for the sites given the apartments can be sold for much more to overseas buyers – who are using the buying off the plan incentives to buy Australian real estate which is totally legal.
 When we dart back to populations we see that as of 1 January 2015, the population of China was estimated to be 1,370,811,348 people which is a bit more than our 23,790,582 as at 30 September 2014.
Maybe our federal government could lower our unemployment rate by employing some computer programmers’ to extrapolate all the countries’ stamp duty data and then cross pollinate that with Australian Tax Office data and create their (as promised) National Property Register?
<a href="https://www.rwm.com.au/files/2015/04/16-04-2015-12-10-09-PM.jpg"><img class="aligncenter size-full wp-image-466586" src="https://www.rwm.com.au/files/2015/04/16-04-2015-12-10-09-PM.jpg" alt="16-04-2015 12-10-09 PM" width="614" height="324"></a>
<a href="https://www.rwm.com.au/files/2015/04/16-04-2015-12-10-48-PM.jpg"><img class="aligncenter size-full wp-image-466587" src="https://www.rwm.com.au/files/2015/04/16-04-2015-12-10-48-PM.jpg" alt="16-04-2015 12-10-48 PM" width="616" height="324"></a>
Then again I’m probably spending way too much time on my computer and simply imagining what is happening to Australian residential property prices!
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Hold on, what’s going on here? Robert Simeon

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A Melbourne based developer has paid $2.5 million for a prime residential development site at Moonee Ponds in Melbourne’s inner north in a private sale brokered by Savills Australia. 
Located at 21-23 Norwood Crescent, the 841 square metre property is located in a Commercial 1 Zone within the Moonee Ponds Activity Centre, allowing a four level development. 
The property, combining neighbouring residential sites, sold on the very strong rate of $2,973 a square metre for the land through selling agents, Savills’ Julian Heatherich and Jesse Radisich.
Heatherich said the sale was another example of adjoining homeowners successfully combining to create a larger development site and significantly increasing the value of each property.  
"Home owners are increasingly jumping on board this trend towards joining forces to produce fantastic results which individually they would not have been able to achieve,’’ he said.
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Adjoining home owners secure Moonee Ponds development site sale through Savills

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Myer Centre Adelaide, the largest CBD shopping mall in the city, has been sold for $288 million through JLL.
It comprises a retail centre, three office buildings and four basement levels with 467 carpark lots.
It has a total area of 716,000 square feet in the city’s retail area along Rundle Mall, the city’s only retail pedestrian street which attracts 24 million shoppers annually.
The Singaporean REIT, YTL Starhill Global REIT Management Limited, as manager of Starhill Global Real Estate Investment Trust secured the freehold property located at 14- 38 Rundle Mall.
Its net income sits at $19 million.
Ho Sing, chief executive officer of YTL Starhill Global, said the asset fits its investment strategy of building a quality portfolio of properties in prime locations.
"At the purchase price of A$288.0 million, Myer Centre Adelaide provides an attractive yield of 6.6%, is 2.8% accretive to our DPU and is below the current replacement cost," he said.
It was listed two months ago by Novion Retail Partnership with price expectations for close to $270 million through JLL's Head of Retail Investments for Australia, Simon Rooney. 
 
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At 6.6% yield, Myer Centre Adelaide sells at $288 million to YTL Starhill Global

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Blackwater, Moranbah, Karratha, Emerald, Muswellbrook, Gladstone have been dubbed by the Propell advisory group as the six towns have been most affected by the mining boom and bust.
Gladstone is the largest, with 8,900 houses in the port city for the Bowen Basin, within which are also Emerald, Moranbah and Blackwater.
<img src="/images/2015/04/21/blackwater-april-21-bre.jpg" alt="">
Source: Propell 
 
These towns have been the worst affected.
For these six towns, the number of house sales has dropped by half.
There were almost 3,000 sales in 2011, as optimism about mine expansion and the dredging of the harbour to provide new port facilities reached its height.
Three years later in 2014 saw 1,225 sales, as mine expansion plans were reversed, environmental concerns dogged the harbour dredging, and commodity prices fell.
Moranbah saw 260 house sales in 2011 which dropped to 43 in 2014.
Price increases of 10% per anuum, 20% per anuum or more have been replaced by falls in the past two years of up to 38% per annum.
Blackwater has 181 house sales in 2011 which fell to just 12 last year. There are around 200 for sale, with Propell putting the sale time line for vendors out to 20 months.
Muswellbrook made the list as the most affected in NSW with a fall in volume of 13% in 2014 that Propell noted seems almost modest in comparison.
Karratha, at the hub of WA expansion, and with almost 3,400 houses, has seen turnover fall some 45% with prices down -12% in 2013 followed by -26% in 2014.
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House listing backlog at Blackwater mining town will take 200 months to sell: Propell

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NSW leading the way: CommSec's State of the States report

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The national auction clearance rate have hit 79.2 per cent, the second strongest result on record, according to CoreLogic RP Data.
It is the strongest result since September 2009. 
There were 2,541 auctions held across the combined capital cities, in the week ending April 19. 
Last week, the final auction clearance rate was recorded at 77.2 per cent with 1,674 residential properties taken to auction.So far this year, with 12 weeks of auction results having been reported, the combined capitals have seen clearance rates above the 75 per cent mark in eight of these weeks.
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There were 1,252 Melbourne auctions held this week, with a preliminary auction clearance rate of 78.7 per cent. Over the year to date, Melbourne’s clearance rate has been outperforming when compared to the same periods over the past four years, however the number of homes taken to auction so far this year is slightly below last year. The best performing Melbourne sub-region this week was Melbourne’s Outer East where 73 auction results were recorded, with a clearance rate of 93.2 per cent. Auction activity was also solid across the Inner South region (86.8 per cent). 
In what was yet another strong result for Sydney, this week’s preliminary auction clearance was 88.3 per cent, the strongest clearance rate for the city on record. There were 950 auctions held across Sydney this week, up from 671 over the previous week. Since the last week in January this year just shy of 9,890 Sydney homes have been up for auction and the number of transactions is around 8,300. The high success rate shows that vendors and buyers within this market are well aligned, which is also reflected in the short time it is taking to sell a Sydney home by private sale. Much like last week, Sydney’s Eastern Suburbs performed well this week, with 62 auctions held and so far, 95.9 per cent of reported auctions sold. A similar result was obtained across North Sydney and Hornsby (95.0 per cent) and Blacktown (94.7 per cent). 
Brisbane’s preliminary clearance rate this week was 48.3 per cent, down from 54.4 per cent last week, which was the second highest clearance rate for the city this year. There were 139 Brisbane auctions this week, compared to 117 last week. The Gold Coast was host to 103 auctions this week. Based on the results reported to CoreLogic RP Data so far, 65.8 per cent have been sold. 
In Adelaide, the preliminary clearance rate was 70.5 per cent, compared to 68.6 per cent last week. As the year progresses, Adelaide’s clearance rate is becoming increasingly strong. 
There were 37 Perth auctions this week and so far 19 results have been reported, with just 21.1 per cent selling. Last week there was a 57.1 per cent clearance rate for Perth. 
Canberra’s clearance rate was 73.7 per cent this week, compared to 72.7 per cent last week. 
In Tasmania, 6 auctions were reported to CoreLogic RP Data with 2 sales. Last week, 8 auctions were reported with 4 sales. 
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Strongest national clearance rate since Spring 2009

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GUEST OBSERVATION
A quarantining approach was adopted by the Hawke government in 1985 when it effectively abolished negative gearing for rental property investments.
For two years after the announcement of the policy, expenses related to rental property investments could not be claimed against income from other sources such as wages. In return for this restriction on deductions, a depreciation allowance was introduced to encourage investment in new rental housing. Existing investments were not affected.
A mythology has grown around the impact of this policy on rental property investment in the late 1980s. It is claimed that the ‘abolition’ of negative gearing directly led to a rental housing investment ‘strike’ and that this was the reason the policy was reversed. In fact, a major reason for the policy reversal was political: property lobbyists threatened to campaign against the then New South Wales state government in a forthcoming election.
It is possible that this campaign convinced some property investors in Sydney that it was no longer worthwhile investing in housing – a self-fulfilling prophecy.
In reality, the housing investment ‘slump’ was restricted to Sydney and Perth, two property markets that were already ‘over-heated’ at the time that negative gearing was restricted. Nationally, investment in rental property continued to increase with the total value of lending to rental property investors rising by 42% over the period that negative arrangements stopped.
<img src="/images/2015/04/16/chart-april-17-bre.jpg" alt="">
Source: Eslake (2014), “Submission to Senate Economics Committee Affordable Housing inquiry Note: Annual increase in median rents. Shaded area was the period during which negative gearing was not available.
Apart from the effects of the ‘normal’ housing cycle in markets that were overheated, the main causes of the property investment slump in Sydney and Perth were higher interest rates (partly designed to prevent a housing investment ‘bubble’) and the share-market boom of the mid 2000s (which diverted investment from housing).35 After the share-market crash of 1987, and the easing of interest rates in its wake, housing investment boomed.
The ‘restoration’ of negative gearing is likely to have added froth to this speculative boom which inflated house prices and triggered a steep rise in interest rates, which led in turn to the worst recession since the 1930s.
Improving on past policies In retrospect, the main weaknesses of the 1986 ‘quarantining’ policy were that it was introduced at a time when the housing market was about to deflate of its own accord, and that only rental property investment was targeted (when ‘negative gearing’ strategies also apply to investment in other assets yielding capital gains such as shares and agricultural investments).
Otherwise, it was a sensible policy response to a serious flaw in the tax system that distorts the operation of housing and other investment markets. Restricting deductions for negatively geared investments to income from the same asset or class of assets is a more comprehensive solution to the problem than other options considered in the past such as limiting ‘negative gearing’ to investment in the construction of new housing. While these proposals would redirect investment to new housing and ease inflation in home prices, they would not remove the structural flaw in the tax treatment of different investments: the bias in favour of borrowing to invest in assets yielding capital gains, including rental property, shares and agricultural schemes.
There is also a strong case for tackling this problem directly by reducing the inequitable and investment-distorting 50% discount for capital gains. This would best be done as part of a wider realignment of tax rates for different investments - including a reduction in tax rates on rental income as the ‘Henry Report proposes. This could be done in conjunction with ‘quarantining’ rules to remove the ‘timing advantage’ discussed above. These measures should be introduced in conjunction with more efficient tax incentives for investment in new housing, especially affordable housing.
The National Rental Affordability Scheme (NRAS), which provides tax credits for such investment, is being wound down before its impact on affordable housing investment can be properly assessed. This is a mistake. Special emphasis should be placed on incentives for long-term institutional investment in housing.
This policy package would be ‘pro’ not ‘anti’ housing investment. Investment would be redirected from where it is harming housing affordability towards where it is most needed: the construction of new affordable dwellings.
At the state level, the replacement of stamp duties on housing purchases with a broadly based Land Tax (as advocated by the Henry Report) and reforms to Land Tax on rental properties to encourage investment in multiple properties, should be considered. Policies that strengthen housing supply, including direct public investment in social and community housing and reform of planning laws should also be pursued.
These tax and housing reforms would improve housing affordability for tenants on low incomes, ease barriers to first home ownership, and improve the fairness of the tax system as well as the efficiency of investment. It would be good for people struggling to find decent and affordable housing and good for the economy as well.
This is an exerpt from the Australian Council of Social Service (ACOSS) report, ‘Fuel on the fire: Negative gearing, Capital Gains Tax and housing affordability. Read the full report <a href="https://www.acoss.org.au/media/release/new_report_calls_for_action_on_negative_gearing_and_capital_gains_tax" target="_blank">here</a>.
Peter Davidson is senior advisor with ACOSS.
Ro Evans is policy officer with ACOSS.
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