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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New Zealand celebrity chef Martin Bosley will take on a role of executive head chef at a Melbourne CBD restaurant, following agreed terms on a new lease in Little Collins Street.
Bosely will head the new Imagine Lounge Bar &amp; Dining seafood speciality enterprise at the 450 square metre former Sotto Restaurant lease, located in the basement of the Causeway Hotel at 353 Little Collins Street, on a 10 year term. 
According to Savills Australia Victorian retail director, Michael Di Carl, CBD basement rents are in the order of $300 to $400 a square metre net.
Di Carlo said Bosley’s deputy of 11 years Shawn (Shamis) Roper would take the role as head chef.
He said Image Lounge represented a new venture for lessor, restaurateur Nindy Singh.
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jchancellor-FAypfDUnLy

Melbourne CBD basement rents at $300 a square metre plus

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RBA board members have warned that risks had been beginning to build in commercial property markets, including developers of residential as well as non-residential property. 
Prices in several market segments had been rising, even as vacancy rates remained high and leasing conditions weakened.
It was a second warning coming a year after it warned of office market oversupply risks.
 
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RBA again sees emerging commercial property market risks

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St Joseph's Refuge in Adelaide's Fullarton is up for sale.
The handcrafted sandstone building, on a 4,350 square metre plot, is over 100 years old, constructed circa 1900.
Currently used as a Christian church, the two storey building has around 20 separate rooms for meetings, offices or event spaces, plus bathrooms and kitchen areas, one approaching commercial size. The church congregation owns the estate.
Marketing agents Peter McMillan and Eloise McMillan of Toop &amp; Toop Hyde Park note in the property's listing that the property could be used for student or aged care accommodation, or as an educational, healthcare or religious institution, or as a particularly large family home.
They are accepting expressions of interest for the property at <a href="https://www.realestate.com.au/property-house-sa-fullarton-119235755" target="_blank">82 Wattle Street in Fullarton</a> until 8 April.
The building was established as two 30 bed dormitories with a large hall and community room, with construction beginning in late 1900. Architect E J Woods designed the premises on the plot, which previously held a jam factory. Lady Tennyson opened the facility in September of 1901.
According to a 1900 issue of Adelaide's <a href="https://www.propertyobserver.com.au/https://trove.nla.gov.au/ndp/del/article/36979270" target="_blank">The Advertiser</a>, the Catholic refuge was originally intended to shelter young expectant mothers or recent mothers who were unmarried, no matter their religion or denomination.
The <a href="https://www.samemory.sa.gov.au/site/page.cfm?u=1461&amp;c=1554" target="_blank">Adelaide Observer </a>in 1901 noted, however, that the Sisters of St Joseph's refuge also provided accommodation and care for women with criminal backgrounds and new migrants. The organisation, founded by Mother Mary MacKillop in 1963, was funded by a combination of public donations, church collections and earnings from the women themselves, some of whom worked in the laundry.
The refuge moved into the Fullarton premises after becoming too large for their previous Norwood premises. The Fullarton refuge provided room for "80 inmates and 30 babies", as well as the 10 or so sisters, according to the Adelaide Observer.
In 1963, the Daughters of Charity took over the institution, and it later became known as Louise Place.
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jrichardson-uRX5hFdKfN

Fullarton, Adelaide's St Joseph's Refuge on the market

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GUEST OBSERVATION
It’s a tough environment in Australian retailing at the moment. The fact that two CEOs have left their roles mid-way through their contracts is clear evidence that our publicly quoted, traditional, Australian domiciled and single market retailers are struggling.
Australia’s high unemployment rate, more cautious shoppers who have greater choice with global and new physical entrants, is taking its toll. Not in any dramatic way, just in a grindingly constant loss of a few more shoppers and a few more dollars per store per day.
Lower prices, more choice, increasing labour and energy costs always play havoc with large, very high volume, very low profit margin companies. Retailers, airlines and courier companies all face the same issues. Lose a few customers, increase key large cost areas by a little and hey presto we’re trading dollars or making a loss.
For the avoidance of doubt, Tjeerd Jegen and <a href="https://www.smartcompany.com.au/leadership/45889-bernie-brookes-steps-down-as-myer-ceo">Bernie Brookes</a> are both very accomplished retailers. They’ve both had successful careers over a long period of time.
However, when you run a retailer that has exposure to only one country, and you are competing with larger, global store based, omni-channel and pure online retailers, you have very little wriggle room. You can’t draw on your expertise in the US or Europe, or your global buying power. You can’t balance off a poor month’s quarter in Brazil with a pleasing strong month in Spain. Your market dynamics are Australia, and that’s it. Have three poor quarters back to back and it hurts your business, your suppliers, employees and shareholders. And that’s what’s happening in Australian retail right now.
So what? Well as with our car factories, so with our retailers. We can’t compete all on our lonesome in Australia with global retailers. There will be more change in our major retailers over the coming 24 months. Changes in ownership, collaboration, sourcing and cost.
Oh and a lot of money invested in specialist retail technology in three key areas:  to lower labour costs, to improve shopper engagement and to improve online capabilities. 
I don’t know where and I don’t know when. But it is coming. Why? Because it’s already happening in Europe and the US. And that’s where our Australian retailers’ new competitors, and potential acquirers, are based.
Might be worth buying some real shares again. And being patient.
Kevin A Moore is a retail expert and the chairman of <a href="https://crossmark.com.au/">Crossmark Asia Pacific Holdings</a> and <a href="https://www.mirador.com.au/">Mirador Retail Technology</a>. He is also the founder of <a href="https://www.theroadtoretail.com/">TheRoadToRetail</a>.
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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KevinMoore-qqnNLh5v7N

Retail challenges on a small continent: Kevin Moore

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Unit owners in Queensland will have to wait until the second half of 2015 to learn the recommendations of a contentious review into strata by-laws, debt recovery and scheme termination.
Before the Queensland state election in January, <a href="https://www.goldcoastbulletin.com.au/news/queensland-state-election-2015/pollies-face-barrage-of-questions-on-body-corp-laws-as-angry-unit-owners-demand-answers/story-fnr8vz6s-1227200299598" target="_blank">unit owners vented their frustration that the timing of the review</a> – which closed for consultation on 30 January, the day before the election – meant its contents could not be made into an election issue.
The options paper called for comments on by-laws such as parking, pets in apartments, smoking on balconies and overcrowding, as well as how bodies corporate should be allowed to recover debt and terminate their schemes.
The Unit Owners Association of Queensland criticised the review for failing to consider 25-year management rights contracts awarded by developers.
Strata Community Australia president Simon Barnard warned against any knee-jerk reactions to proposals put forward in the options paper to ban unit owners from smoking on their balconies.
Over 300 submissions were received in response to the paper, a spokesperson for the Queensland Office of Fair Trading told Property Observer.
Queensland University of Technology’s Commercial and Property Law Research Centre, which was engaged by the Newman government in 2013 to conduct the review, is now considering the submissions.
It will release a report based on its analysis in the second half of 2015. The submissions will also be made public at that time, provided the submitter has not specifically requested confidentiality, the spokesperson said.
The review aims to cut red tape, regulation and property law duplication to help streamline the way Queenslanders buy, sell and manage property.
Two additional consultation papers into Queensland’s body corporate laws are under development and due for release later in the year.
The second paper will examine administrative and procedural issues including general meetings, the body corporate committee, and dispute resolution.
A third paper will consider the possibility of bringing community title schemes, which are now regulated separately from strata schemes, under the Body Corporate and Community Management Act 1997.
The body corporate review is part of a larger examination of Queensland’s property laws that QUT is conducting. In early 2014, the broader review investigated seller disclosures in Queensland and setting and adjusting lot entitlements for community title schemes. 
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zfielding-GvX3Uq9KTa

Queensland strata law review recommendations due later this year

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The future of Clive Palmer’s Sunshine Coast dinosaur park is in doubt, with the mining magnate turned billionaire closing the doors to the Palmer Coolum Resort yesterday.
Palmer purchased the former Hyatt Regency Coolum in 2011, promising to invest $2 billion into the resort to boost tourism on the Sunshine Coast. The resort includes a golf course, an auto museum, the Palmer Grill restaurant and the infamous Palmersaurus Dinosaur Park.
The <a href="https://www.couriermail.com.au/travel/australia/clive-palmer-closes-coolum-resort-for-multimillion-dollar-refurbishment/story-fnjjv0r9-1227264985584" target="_blank">Courier Mail reports</a> the resort’s accommodation has closed, with general manager Simon Stodart announcing “an extensive overhaul” of the property will now begin.
The resort’s golf course is still open, as is the dinosaur theme park, the museum and the restaurant.
<a href="https://www.theaustralian.com.au/business/clive-palmers-dinosaur-dream-now-extinct/story-e6frg8zx-1227265344799" target="_blank">According to the Australian</a>, 40 full-time employees have lost their jobs as a result of the accommodation section of the resort closing.
The Australian also reports the resort’s former general manager, Bill Schoch, is suing Palmer in the Queensland Supreme Court after he was sacked last year.
A former employee of the resort, Peter Yates, launched a separate <a href="https://www.smartcompany.com.au/finance/43653-clive-palmer-faces-unfair-dismissal-claim-over-fat-c-taunt-ebay-and-vend-accept-bitcoins-midday-roundup" target="_blank">unfair dismissal claim against Palmer</a> in September last year.
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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ekeating-PWvazjYE25

Clive Palmer’s Coolum Resort closes

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Dear Margaret,
I was considering buying a two bedroom, two bathroom apartment off the plan in Newstand, Brisbane for about $650,000.  
However, there are mixed opinions about supply and demand there. Some says it is already oversupply, while others say say there is a shortage.
Do you think this is a worthwhile investment?
Regards, 
Ming
Hi Ming,
It would seem that at the moment most property investors want someone to simply tell them if they should buy a property they have seen, or not, or even just tell them where and what to buy. In asking such a question, it assumes that all investment properties are right for all investors, and nothing could be further from the truth.
Property investing is actually a very personalised thing, and what is right for one investor, may not be right for another.  While some properties simply should not be purchased at all, and some areas will never deliver anything in terms of growth, when it comes to buying property in what is thought to be an area which may have potential, there are a number of things to consider:
<ul>
<li>Risk</li>
</ul>
All property types will carry different levels of risk to each other and each investor should consider whether their own risk profile matches the level of risk each property type presents to them. 
For example, a serviced apartment in a tourist destination would be considered to carry a lot more risk than a three bed house in the Brisbane suburbs. Further, that serviced apartment would present a lower risk to a person with a large portfolio of properties, and plenty of personal cash flow than it would to the one who has a tight personal budget, and a complete reliance on that property delivering weekly income, and growing. 
The investor with the large portfolio can afford for it not to work out, while the other investor might have their entire financial future changed by just this one property if it works out badly.
<ul>
<li>Cash Flow</li>
</ul>
Some properties deliver better cash flow than others, and some investors can withstand higher levels of negative cash flow than others can.
The cash flow of any property you buy must be one which you have established you can manage – and you must build in a margin for lower than expected cash flows to cover times when vacancies may be higher than anticipated.
<ul>
<li>Capital Growth</li>
</ul>
The investor with the large portfolio can afford it if one or two properties stagnate and do not grow, while the newer investor, particularly if they have low equity in their own home, must have a property with more assurance of growth.  While there are no guarantees of growth anywhere, it’s commonly known that some areas have characteristics which assure at least some growth over time (like suburbs of a capital city) while others may experience fabulous growth, or none at all (or even a loss, such as in some mining towns).
And so, in direct answer to your question, while Newstead definitely possesses characteristics which demonstrate that it has what it takes to grow and deliver a decent cash flow, there are concerns over the short term supply factor.
In the event that the developments keep being approved, the supply will grow faster than the demand, and, in the short-term at least, prices may stagnate.  Given the strong fundamentals of the area, this oversupply will eventually work its way out, but no one can tell you with any certainty when this will happen – and so you must determine the level of risk that this presents, to you.
Kind regards,
Margaret
Have a property question? <a href="mailto:askmargaret@propertyobserver.com.au" target="_blank">Ask Margaret!</a>
Please not that due to the number of requests, Margaret may not be able to answer every question.
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mlomas-KC9MUPZ6Ca

Ask Margaret: Will buying off the plan in Brisbane be a worthwhile investment?

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The wealth merits of moving from pricey Sydney to regional NSW was evident in a recent Onthehouse.com.au survey.
The survery looked at the number of million dollar properties in each state or territory’s metro and regional areas.
The findings showed that NSW was the wealthiest state when it comes to residential property, with 23.4% of dwellings in the metropolitian suburbs valued at over $1 million in 2014.
However, the number of million dollar properties in the state’s regional market was only 0.6%, meaning NSW had the highest disparity between metro and regional districts.
<img src="https://static.console.com.au.s3.amazonaws.com/Invstor%20Centre/Million-Dollar%20Properties%20Table%201.jpg" alt="" width="250" height="429">
Source: Onthehouse.com.au
John Edwards noted Victoria ranked as the second wealthiest state, with 12.4% of its metro properties being valued over $1 million, with a higher 0.7% in regional Victoria.
This was followed by metro WA (9.9%) and the ACT (4.9%).
The wealthiest regional market was the NT, where 1.4% of properties were found to be valued over the $1 million mark.
This compares to its metro market where 3.7% of properties were valued at $1 million or more.
John Edwards, the consulting analyst for Onthehouse.com.au, said SA was the least expensive state overall in Australia, with 2.0% and 0.1% of properties in the metro and regional markets respectively valued above $1 million.
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NSW the highest disparity between city and regional $1 million properties: Onthehouse

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I recently <a href="https://petewargent.blogspot.com.au/2015/02/australia-23750000" target="_blank">looked here</a> at how Australia's population increased from just 15 million in 1981 to more than 23.75 million today.
If you look closely you will see that the rate of population growth began to accelerate through the mining boom.
<img src="https://2.bp.blogspot.com/-jsW8asScJ4s/VOL4RMMnsHI/AAAAAAAATKc/MZxB5ny-jcY/s640/ABS%2BPOPULATION.jpg">
Last week saw the Treasury release of the fourth <a href="https://petewargent.blogspot.com.au/2015/03/aussie-investing-until-2055" target="_blank">Intergenerational Report</a> ("IGR") which showed Australia's population as being projected to increase to just shy of 40 million over the next four decades.
<img src="https://3.bp.blogspot.com/-ORinnuJ7Hb0/VPjv5nNgWKI/AAAAAAAATls/9jzrEwmTBqc/s1600/Population%2Bto%2B39.7%2Bmillion.jpg">
However, as <a href="https://petewargent.blogspot.com.au/2015/03/aussie-investing-until-2055" target="_blank">I wrote in this blog post last week</a>, the report seemed to be based upon a number of dubious assumptions and the projections in my opinion seemed far too low.
Why these projections are too low
In the absence of immigration, as life expectancies increases Australia would be set to be characterised by a problematic ageing population.
By 2055, life expectancy at birth is projected to be more than 95 years for men and more than 96 years for women, while there are projected to be approximately 40,000 people aged over 100, which is a huge increase.
A greater proportion of the population will also be aged 65 and over and the number of Aussies in this age group is projected to more than double by 2055 compared with today.
Given this it seems most unusual that the projections used in the IGR were based upon net overseas migration gently sliding all the way back down to just 0.5% per annum as a%age of the population over time.
<img src="https://2.bp.blogspot.com/-EClWzBrl3Y0/VPjv4nvcz0I/AAAAAAAATlU/ZMeLvqgctv4/s1600/Net%2B%2Boverseas%2Bmigration%2Bto%2Bfall.jpg">
Trend is up 
Successive IGRs have seen assumptions around net overseas migration increase.
In the 2002 report, the long-term net overseas migration assumption was just 90,000 persons per, by the 2007 report the assumption was 110,000, and by the 2010 report, the assumption was up to 180,000.
For the central scenario presented in the 2015 Intergenerational Report net overseas migration has been assumed to be 215,000 per annum from FY2019.
This takes the population projections for 2050 to be some 1.9 million higher than the 35 million figure which prompted the original "<a href="https://petewargent.blogspot.com.au/2015/03/the-debate-is-over-big-australia-won" target="_blank">Big Australia</a>" debate.
And this figure for net overseas migration is expected to stay at a constant 215,000 for the full 40 years considered by the IGR, which is unrealistically low.
There is also a case to be made for the forecast fertility rates being stunted too with birth rates declining as parenthood was potentially postponed by some during the financial crisis, but let's assume here that these projections prove to be accurate.
Well below forecasts
It is my contention that the Treasury and government know full well that its net overseas migration estimates are far too low.
After all the Department of Immigration's <a href="https://www.immi.gov.au/media/publications/statistics/immigration-update/nom-sep-2014.pdf" target="_blank">own forecasts as at Q3 2014</a> showed net overseas migration accelerating to 256,900 by as soon as 2018!
So much for a constant figure of 215,000 then!
On that basis it appears extremely unlikely that net overseas migration will be capped at 215,000 in perpetuity from FY2019 onwards.
This is particularly so in light of the remainder of the IGR, which effectively tells us that:
<ul>
<li>lower immigration would lead to slower economic growth</li>
<li>lower immigration would lead to an ageing population</li>
<li>lower immigration would lead to lower participation rates and adverse consequences on the tax take</li>
</ul>
With these viewpoints so deeply entrenched in the IGR, it seems highly illogical for net overseas migration to be capped or steadily reduced over time in%age terms as assumed in the report.
 Softly softly...
Why then wouldn't the Treasury document include more realistic forecasts in the IGR?
Presumably because no government would be keen to release a report showing an explosion in the Australian population lest this be unpopular.
It is rather a classic case of politicians saying one thing while doing another.
Towards 143 million
You'll note that I didn't make any projections or estimates of my own. For one thing, forecasting population is a fool's errand given the number of parameters involved and unknown variables.
However, models and simulations can be built be demographers - for example, see <a href="https://theconversation.com/population-growth-could-go-far-beyond-igr-projections-38490" target="_blank">this article here</a> at The Conversation which discusses many of these same points in a more intelligent fashion.
Of course, Australia can't continue to import immigrants forever and continue to reap the same benefits, for the younger immigrants won't stay young forever.
The demographic <a href="https://www.demographic-research.org/volumes/vol26/14/26-14.pdf" target="_blank">research</a> suggests that after 43 years the benefits of immigration would begin to diminish and the employment-to-population ratio would fall into decline.
But 43 years is a long time in the future.
Forecasts could be wildly low
The research also shows that if net immigration and fertility were to continue indefinitely at the IGR's assumed annual levels of 215,000 and 1.9 births per woman respectively - and the current life expectancy were to prevail - then over the very long run Australia’s population would grow over the very long run to an enormous 143 million.
While looking so far into the future is pure conjecture, it seems overwhelmingly likely that the forecast population of just under 40 million by 2055 is much too low.
Immigration will continue rising simply because the economic benefits will prove irresistible to successive governments of the future, just as has been the case over the past 15 years.
It is of course incredibly difficult to model given the variables in fertility rates, life expectancies, age of immigrants and so on, if the rate over net overseas migration in Australia remains close to 1% per annum (instead of declining back to 0.5% per annum as per the IGR). then the 40 year population projections will miss wildly on the low side.
PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.
His book '<a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>' is out now.
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pwargent-M4siyDbqQY

Big Australia to give way to Huge Australia: Pete Wargent

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The NSW Treasurer Andrew Constance says the Labor Opposition's home buyers stamp duty relief policy was merely reheating a failed Labor government stamp duty policy.
“The Stamp Duty Deferral Scheme is just that – a deferral – which will have to be paid back as a $561 first home buyer tax every month,” Constance said.
“Under Labor’s plan, new home buyers who purchase a $750,000 home and defer paying $29,240 in stamp duty will then be slugged every month, when they can least afford it.”
Labor’s Stamp Duty Deferral Scheme was originally introduced in the mid-1990s, then scrapped by former NSW Labor Treasurer Michael Egan because it was becoming a financial burden on those entering the housing market.
Egan told Parliament in his 1998 Budget Speech: ”The current option of deferring stamp duty… is not working. Only 25 per cent of first-time buyers are taking it, it is more costly to them than the discount option, and many who do take it find that they are creating a later financial trap, with almost 48 per cent of them in arrears.”
“Those who fail to learn from history are bound to re-live it,” Constance said.
“Under Labor’s plan, first home buyers will pay two mortgages instead of one."
The Baird government has first time buyers has receiving a $15,000 grant on new homes worth up to $750,000, with stamp duty exemptions and discounts available for new builds valued between $550,000 and $650,000,” Mr Constance said.
NSW Labor leader Luke Foley told 2GB broadcaster Alan Jones that Sydney needs more land release.
"Part of the answer is supply," said Foley.
"Sydney will have 5.9 million people by 2031, so we need greenfield and infill housing supply."
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