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

Joel Robinson

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

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

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

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

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

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

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

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

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

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

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

<html><body>
Quest Serviced Apartments has established an advisory board of high profile business leaders to steer the company’s strategic direction over its next period of growth.
Three members of the newly appointed Quest advisory aboard include:
<ul>
<li>Tony South, former chairman of Tourism Accommodation Australia</li>
<li>Peter Ritchie, former chairman of McDonald’s Australia</li>
<li>John Selak, Ernst &amp; Young partner</li>
</ul>
The advisory Board will provide commercial pragmatic advice to support Quest Chairman, Paul Constantinou and its senior management team.
Quest announced recently a $500-million strategic partnership with one of the world’s largest serviced apartment owner-operators, the Singapore based The Ascott Limited.
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jchancellor-FAypfDUnLy

Quest Serviced Apartments establish advisory board

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Kim Williams has taken a non-executive directorship at the international property media group, Executive Channel.
The former boss of News Corp in Australia has joined the Pyrmont-based company which sells advertising space in offices.
Bill Muirhead, founding partner of advertising agency M&amp;C Saatchi, and Media i managing director Chris Winterburn are other new appointees to the board.
<a href="https://www.executivechannel.com.au/Default.aspx" target="_blank">Executive Channel </a>provides advertising space on high-definition video walls, digital screens in office foyers, in lifts and even corporate car parks.
Its most recent installation was six new 55" digital directory boards at One Farrer Place, Sydney.
It has installations in property held by property trusts including AMP Capital Investors, Brookfield, Charter Hall, Colonial First State, Cromwell, DEXUS, ISPT, GPT, Lend Lease, Investa Property Group, QIC, Stockland, Valad and Westfield.
The Executive Channel Group executive chairman is Bruce Fink. It three founders were Bruce Fink, Charles Parry-Okeden and Craig Cohen.
 
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Kim Williams joins Executive Channel property media group

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The longtime former Trent Nathan chief Shane Barr, now executive chairman at Form Corp Pty Ltd, has sold his Transvaal Avenue holding.
Shane Barr bought the shop with apartment above in 2007 for $3.08 million from the Cosgrove retail family.
There were $4.8 million expectations <a href="https://www.raywhite.com/nsw/double-bay/1206519/" target="_blank">through Ray White</a> on the undisclosed pre-auction sold offering.
Property Observer gleans it sold on a 5% gross yield.
It was custom designed by architect Alexander Tzannes, with 7.9 metre frontage at 18 Transvaal Avenue.
It spans three levels over two separate strata lots.
Lot 1 is 164 square metres and the lot 2 penthouse is 272 square metres.
Barr headed Trent Nathan from the 1980s until 2002.
 
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Transvaal Avenue, Double Bay retail sold on a 5% gross yield

<html><body>
NAME: Tim Maunsell<img src="/images/2014/11/12/Tim-Maunsell-profiel.jpg" alt="" style="float: right;">
POSITION: Chief executive
COMPANY: Shortspace
OFFICE LOCATION: 9 Barrack Street, Sydney
How long have you been in the industry?
30 years.
What’s happening in the area you specialise in?
We're an online portal that gives people – startups, creatives, companies or individuals – access to short-term commerical real estate, whether it be by the hour, month or week. We're creating a solution where people can talk to each other and find an easy solution.
Describe the most interesting commercial property you have worked on?
We did the valuation of the Opera House in the 1980s.
What are the ingredients to being successful in your job?
As far as I'm concerned, you're not working unless you're on the phone.
What aspects of your role do you enjoy the most?
Meeting people and coming up with solutions that they wouldn't have thought of.
Where would you invest a spare $750,000?
A unit on the Gold Coast. I think it's very undervalued at the moment.
Which football team do you support?
North Sydney Bears.
What’s your favourite app or techno gadget?
Shazam.
How do you use social media?
We use it quite effectively for Shortspace. We use a lot of social media - Pinterest, Instagram, <a href="https://www.facebook.com/ShortSpaceAu" target="_blank">Facebook</a> and Twitter. It's a really cheap, cost effective tool.
I'm not personally much of a Twitter user, but Facebook is a big social tool for me. 
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jrichardson-uRX5hFdKfN

In profile: Shortspace's chief executive, Tim Maunsell

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GUEST OBSERVATION
As property development involves significantly more components of risk factors, higher returns are required above rental income generating property returns.
Property investment strategies include: core; core-plus; value-add; opportunistic; and development. Each strategy exhibits different characteristics which have been evaluated and quantified.
The differences in required returns and prospective volatility of returns are demonstrated in Figure 1.
Figure 1: Effect of Increasing Risk
<img src="/images/2014/11/06/nui%20nov%206%20one.jpg" alt="">
Source: Atchison Consultants
Investors in property across the risk spectrum encounter multiple risk factor exposures. Key risk factors include:
<ul>
<li>Property</li>
</ul>
There are risks inherent in direct property investment. They reflect the potential variability of property return due to macroeconomic events, such as rental market changes, economic activity involving demand and supply and change in transaction costs.
<ul>
<li>Planning and zoning</li>
</ul>
In the preliminary stages applying for and obtaining the planning and zoning approvals can be a protracted process. Time taken in the process results in consequential increase in holding costs for outlays during the process. 
<ul>
<li>Construction</li>
</ul>
Construction risks are viewed from a cumulative perspective as each stage cannot commence until the preceding stage has been completed. Activities are grouped by the three key stages of construction comprising in-ground, structure and fit-out and completion with resulting holding costs.
<ul>
<li>Settlement</li>
</ul>
Settlement risk considers the potential for a downturn in financial markets, in particular property markets and the prospective failure of pre-committed contracts for sale or lease to settle.
<ul>
<li>Leasing</li>
</ul>
This represents the prospect that on completion of a property development or expiry of a lease, it cannot be leased or released for an extended time. 
<ul>
<li>Capital works</li>
</ul>
Capital works risk represents the potential extensive time during which rental income is not being generated when capital works are being undertaken.
<ul>
<li>Capital management including gearing</li>
</ul>
Capital management includes structuring equity and debt financing terms which are suitable for specific property acquisition and development.
<ul>
<li>Asset management risks</li>
</ul>
Inefficient asset management would result in delay in successful leasing, which consequentially results in lower rental income.
Risk factors result in the opportunity cost of time when these factors are incurred. Premiums for these risk factors would be measured on the basis of the opportunity cost being core property expected return over the time period when return income is not being received.
Table 1 illustrates the property investment strategies and their prospective required rate of return range.
Table1: Australian property strategies and expected returns
<table style="width: 400px;" border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="bottom" nowrap width="172"> </td>
<td valign="bottom" nowrap width="228">Property Return Range per annum (%) </td>
</tr>
<tr>
<td valign="bottom" nowrap width="172">Core</td>
<td valign="bottom" nowrap width="228">8 – 10%</td>
</tr>
<tr>
<td valign="bottom" nowrap width="172">Core Plus</td>
<td valign="bottom" nowrap width="228">9 – 12%</td>
</tr>
<tr>
<td valign="bottom" nowrap width="172">Value Add</td>
<td valign="bottom" nowrap width="228">12 – 15%</td>
</tr>
<tr>
<td valign="bottom" nowrap width="172">Opportunistic</td>
<td valign="bottom" nowrap width="228">14 – 25%</td>
</tr>
<tr>
<td valign="bottom" nowrap width="172">Development</td>
<td valign="bottom" nowrap width="228">25 - 45%</td>
</tr>
</tbody></table>
Source: Atchison Consultants
Ming Niu is an analyst at <a href="https://atchison.com.au/" target="_blank">Atchison Consultants</a>.
This article has been updated since initial publication.
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The property risk factor spectrum: How it can affect returns

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The Ray White Group set a new all-time record for the company in October, recording $3.5 billion worth of sales across Australia and New Zealand.
The New South Wales branch managed to earn $1.1 billion dollars in sales, while the commercial division was up 90% on this time last year.
Group chairman, Brian White said the results reflect “the best property market in memory”.
“We saw commercial markets producing fabulous results in all sectors. The power of the property market in Sydney stood out more than ever this month,” White said.
Ray White’s<a href="/expert-insights/investing/ray-white-secures-record-3-billion-in-wintery-july-2014-property-sales"> last record sales month</a> was back in May of this year, when they posted a $3.2 billion net return.
The best performing Ray White offices in October included Glen Waverley (VIC), Double Bay (NSW), Remuera and Auckland Central Commercial (NZ) as well as New Farm, Surfers Paradise and Ascot (QLD).  
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owisniewski-RiYLqnXfKH

Ray White achieve new monthly record on the back of soaring commercial returns

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The federal government's desire for a national register of all property purchases by foreign investors, in co-ordination with the states, now appears temporarily out of reach.
"I've virtually given up on that ….now I am going to have to set up our own register," Treasurer Joe Hockey told <a href="https://www.2gb.com/audioplayer/73911#.VGKvNVZK4zU" target="_blank">2GB breakfast broadcaster Alan Jones today</a> (@ 8.30 mins).
Queensland is the only state that maintains a register of all foreign land owners, both urban and agriculture.
Meanwhile the federal government is set to tighten its scrutiny of foreign purchases of Australian agricultural land, according to a Daily Telegraph report by Scott Rochfort.
Federal Agriculture Minister Barnaby Joyce told <a href="https://www.news.com.au/national/nsw-act/tough-new-rules-as-foreigners-gouge-huge-chunk-of-australia/story-fnii5s3x-1227120001045" target="_blank">The Daily Telegraph</a> the new rules, which will lower the threshold of farm purchases examined by the Foreign ­Investment Review Board (FIRB) from $248 million to $15 million, were “imminent”.
“We are entitled to have a proper oversight and in some instances a concern if people believe things are becoming excessive,’’ Joyce said. Any entities owned by a foreign government will have a $1 FIRB threshold.
Since the 1970s, the Foreign Investment Review Board has been required to supervise the purchase of residential and agricultural real estate by foreign buyers, with notification to the FIRB mandatory.
Acquisitions by state owned enterprises or sovereign wealth funds must also be reported to the FIRB for review. 
However the then federal coalition said in opposition the lack of robust data and the absence of foreign land ownership registers had stirred concerns about the extent of foreign land ownership that may (or may not) be occurring throughout Australia.
In response to pressure over the lack of information, the Labor government in November 2010 directed the Australian Bureau of Statistics (ABS) to include questions concerning ownership of agricultural land in a farm survey.
However, the validity and usefulness of the official ABS data has been widely questioned.
The coalition had a policy implementing a database capable of tracking acquisitions of land across Australia to inform public debate or policy. 
In late 2012 the Labor government announced plans to introduce a foreign ownership register for agricultural land, with Prime Minister Julia Gillard saying she wanted to take the politics out of foreign ownership.
Gillard told the National Farmers Federation national congress that the register would provide a more comprehensive picture of the specific size and locations of foreign agricultural land holdings.
The debate has flared in the suburbs regarding urban land given the belief of high rates of Chinese property acquisitions over the past two years.
Kelly O'Dwyer, the Liberal member for Higgins and the Chair of the House of Representatives Standing Committee on Economics, has been charged with finding the solution having said there are a number of buyers who are not going to the Foreign Investment Review Board for screening.
"We need to have better data, better information, which is another reason why one of the key recommendations that our committee will be making is to have a national register where, at the transfer of land, you actually understand who is purchasing that residential property and that that data can be matched against all sorts of other data, including data from the Immigration Department, where you have, for instance, temporary residents who might've left the country and who, under our current existing foreign investment framework, need to sell their property within three months of leaving - some of those people are not doing that and the data isn't being matched, which means those people, at the moment, are not being caught," she told the ABC Lateline program in late September.
It was expected the move to electronic conveyancing would expedite the process.
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States no help on united FIRB land register, so federal government to go it alone

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An interesting picture emerges from the list of top yielding suburbs across Western Australia and Queensland.
With a total of 33 suburbs at 7.00% or above, or 17 in Queensland and 16 in Western Australia according to RP Data, Property Observer decided to look at which areas are influenced by mining.
Using a combination of 2011 Census Data employment statistics, and local government details to notify when a mine is nearby, each town in the list below has been tagged with ‘resources influence’ if mining or associated industries affect the area in a significant way. That’s not to say, of course, that mining is the only driver in some of these towns, nor that those without this tag have not been affected at all by the mining boom.
In total, 23 of the locations on our list were given a ‘resources influence’ tag. Their rental yields range from 11.7% to 7.00%.
Interestingly, some of the much discussed and atypical mining towns did not make the top yielding house list. Moranbah’s average gross rental yield for a house sits at 6.30%. However, when yields for units area strong 8.32%.
23 suburbs emerge with unit yields recorded at or above 7.00%, some doubling up on the list below. For instance, South Hedland units recorded 7.77% average gross rental yield.
One mining area that also managed to get onto the unit list was Queensland’s North Mackay, with units offering a 7.25% yield. Western Australia’s Kalgoorlie also made the list, offering 7.00%.
With mining town rental yields in the past pushing into low double figures, it's interesting to note that just two of those on this list surpassed the 10% mark. When looking at units just one suburb managed to attain this same strength, with the Sunshine Coast's Peregian Springs boasting a 10.53% gross rental yield.
Click over the page to see the full list of suburbs.
<hr class="system-pagebreak">
These statistics are based on the latest available house information from RP Data:
<ul>
<li><a href="/news">Miles</a>, Qld</li>
</ul>
11.7%
Resources influence
<ul>
<li><a href="/news">Mount Morgan</a>, Qld</li>
</ul>
10.35%
Resources influence
<ul>
<li><a href="/news">Kambalda West</a>, WA</li>
</ul>
9.84%
Resources influence
<ul>
<li><a href="/news">Port Hedland</a>, WA</li>
</ul>
9.00%
Resources influence
<ul>
<li><a href="/news">South Hedland</a>, WA</li>
</ul>
8.89%
Resources influence
<ul>
<li><a href="/news">Charleville</a>, Qld</li>
</ul>
8.79%
<ul>
<li><a href="/news">Dysart</a>, Qld</li>
</ul>
8.67%
Resources influence
<ul>
<li><a href="/news">Cloncurry</a>, Qld</li>
</ul>
8.45%
<ul>
<li><a href="/news">Nickol</a>, WA</li>
</ul>
8.40%
Resources influence
<ul>
<li><a href="/news">Newman</a>, WA</li>
</ul>
8.32%
Resources influence
<ul>
<li><a href="/news">Depot Hill</a>, Qld</li>
</ul>
8.25%
<ul>
<li><a href="/news">Soldiers Hill</a>, Qld</li>
</ul>
8.14%
Resources influence
<ul>
<li><a href="/news">Clermont</a>, Qld</li>
</ul>
8.13%
Resources influence
<ul>
<li><a href="/news">Yarloop</a>, WA</li>
</ul>
8.13%
<ul>
<li><a href="/news">South Boulder</a>, WA</li>
</ul>
8.03%
Resources influence
<ul>
<li><a href="/news">Pegs Creek</a>, WA</li>
</ul>
8.00%
Resources influence
<ul>
<li><a href="/news">Sunset</a>, Qld</li>
</ul>
7.73%
Resources influence
<ul>
<li><a href="/news">Mornington</a>, Qld</li>
</ul>
7.72%
Resources influence
<ul>
<li><a href="/news">Baynton</a>, WA</li>
</ul>
7.70%
Resources influence
<ul>
<li><a href="/news">Coolgardie</a>, WA</li>
</ul>
7.65%
Resources influence
<ul>
<li><a href="/news">Dinmore</a>, Qld</li>
</ul>
7.58%
<ul>
<li><a href="/news">Victory Heights</a>, WA</li>
</ul>
7.55%
<ul>
<li><a href="/news">Kambalda East</a>, WA</li>
</ul>
7.48%
Resources influence
<ul>
<li><a href="/news">Parkside</a>, Qld</li>
</ul>
7.31%
Resources influence
<ul>
<li><a href="/news">Healy</a>, Qld</li>
</ul>
7.23%
Resources influence
<ul>
<li><a href="/news">Jandowae</a>, Qld</li>
</ul>
7.21%
<ul>
<li><a href="/news">Derby</a>, WA</li>
</ul>
7.18%
Resources influence
<ul>
<li><a href="/news">Murgon</a>, Qld</li>
</ul>
7.17%
<ul>
<li><a href="/news">Roma</a>, Qld</li>
</ul>
7.09%
Resources influence
<ul>
<li><a href="/news">Bulgarra</a>, WA</li>
</ul>
7.06%
Resources influence
<ul>
<li><a href="/news">Bundaberg South</a>, Qld</li>
</ul>
7.03%
<a href="/news">Narrogin</a>, WA
7.02
<ul>
<li><a href="/news">Brockman</a>, WA</li>
</ul>
7.00%
Resources influence
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jduke-EHk3XBmHkn

Mining a clear winner for top yielding Queensland, Western Australia areas

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Victorian politicians' $136 million of property: What hope is there of housing policy reform?

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Australian retailers are preparing for their best Christmas in five years, according to data released this month by the Australian Retailers Association and Roy Morgan Research.
With consumer confidence <a href="https://www.smartcompany.com.au/growth/economy/42695-retail-sector-finishes-financial-year-on-a-high-spend-recovers-after-budget-slump">rebounding from a mid-year slump</a>, the ARA predicts Australian shoppers will shell out $45 billion between 15 November and 24 December, an increase of 4.3% on the $43 billion spent during the same period in 2013.
ARA executive director Russell Zimmerman said retail figures have been in positive territory for most of the past 12 months and this steady level of trading has influenced the Christmas projections.
“Christmas remains an important aspect of the yearly retail calendar,” Zimmerman says.
“Over the last five years we have seen a year-on-year increase [in Christmas sales] but this year is the largest without a doubt.”
The ARA is predicting Christmas sales growth for all Australian states and territories except the Australian Capital Territory where sales are expected to decline by 0.4% compared to 2013.
New South Wales tops the list with projected growth of 6.1% for the period, followed closely by Tasmania at 5.9%, although Zimmerman says it is important to remember that Tasmanian retail sales will be “coming off a low base”.
Victorian retailers can expect to see growth of 4.4% this festive season, while those in Queensland and the Northern Territory are looking at a 3.9% and 3.2% boost, respectively. Retail sales are expected to grow by 2.9% in South Australia and 1.2% in Western Australia.
Hospitality, food and household goods are driving the projected growth, with the ARA and Roy Morgan forecasting a 6.8% increase in spending on hospitality this Christmas, followed by a 4.9% jump in spending on food and 4.4% on household products.
Spending on apparel is projected to come in at 0.2% less than last year, although the ARA says clothing, footwear and personal accessories retailers do usually see a last-minute bump in sales.
Despite the apparent optimism, Zimmerman says there is a general sense retailers have been cautious in their approach to buying Christmas stock this year and recommends shoppers get started on their Christmas buying early.
“There may be some shortage of stock this Christmas … so people should get out early,” he says.
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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