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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Australand has announced a Thursday morning update on acceptances regarding Frasers bid which have now reached 32%.
Frasers Centrepoint Limited offer to acquire Australand was just over halfway there, with the prior announcement when there was 24 hours to go.
At 6.30 pm Wednesday, offer acceptances received totalled 28.65%. 
<a href="/expert-insights/investing/frasers-australand-takeover-bid-still-short-as-deadline-draws-closer">Acceptances of more than 50% of all Australand securities must be received by 7pm</a> Thursday, or the offer will lapse.
Unofficially Frasers controlled 43% of Australand’s register and should surge over 50% by 4pm on Thursday afternoon, the Australian Financial Review Street Talk column suggested late morning.
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jchancellor-FAypfDUnLy

Frasers' Australand takeover acceptances pass halfway with 24 hours to go

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A second New South Wales UNIQLO store has been announced, this time for the Macquarie Centre. It follows their May announcement that their first Sydney store will be in Pitt Street Mall.
The Macquarie Centre, North Ryde store, which will be 1,514 square metres, looks to take advantage of the current $440 million redevelopment of the centre that will house 130 stores.
UNIQLO’s store will include their apparel, including their spring/summer 2014 collection, including men’s, women’s, children and baby wear.
They have recently announced the opening of their second Victorian store, in Chadstone Shopping Centre. Both this, and the Pitt Street Mall store, will open in late-2014.
Their first Australian store was opened in April at Emporium Melbourne.
Shoichi Miyasaka CEO of UNIQLO Australia said that growing the brand in Australia is important.
UNIQLO opened their first store in Singapore in 2009, Malaysia and Taiwan in 2010, Thailand in 2011, the Philippines in 2012 and Indonesia in 2013.
Most recently, <a href="/expert-insights/investing/h-ms-first-sydney-store-set-for-a-16-october-opening-at-macquarie-centre-north-ryde">H&amp;M also announced that they would be opening their first Sydney store</a> in the Macquarie Centre.
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jduke-EHk3XBmHkn

UNIQLO to open Macquarie Centre store later this year

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GUEST OBSERVATION
What is proposed? 
The proposal is an exemption from unnecessary real estate agent licensing requirements, and other regulation, for agents managing on behalf of ‘large professional commercial property owners’, including those agents managing for ‘related entity’ property owners (e.g. AMP’s shopping centre management arm managing on behalf of AMP-owned shopping centres).
Why shouldn’t these agents hold a real estate agents license? 
The real estate agents license is exclusively oriented to residential real estate and teaches the holder nothing about commercial property work. Large commercial property owners (such as Dexus, AMP Capital Investors and Stockland) understand fully the risks involved in commercial real estate transactions.
They do not need the protection of Parliament in their business affairs. All this does is add unnecessary costs.
Why not have a special license for commercial property? 
There is no need for a licence. Because the present license is irrelevant, large professional commercial property owners have instigated their own intensive on the job, and off the job, training for their staff.
The Property Council Academy also provides specialised professional development courses. The training of commercial property staff in Australia is admired around the world.
Will this have a major impact on commercial property? 
No. This will affect fewer than 1% of commercial property buildings and more than 96% of commercial building sales will be unaffected.
If it has such a limited impact, why bother doing anything? 
This is a major cost for commercial property owners since they have to send staff off to gain an unnecessary qualification and provide staff cover for them while they are doing so.
It also hamstrings them in making efficient staffing arrangements. This also means taxpayers’ money is being spent unnecessarily administering and enforcing this regulation.
What effect will it have on tenants? 
None. Retail tenants are protected by retail tenancy legislation (such as the Retail Leases Act) and this reform is supported by the major retailer associations. It has never previously been claimed that the estate agents legislation was a protection for tenants.
Are any other States doing this?  
Yes. The Queensland has already legislated for these exemptions in its new Property Occupations Act which is expected to begin operation in September.
The government said this was a major initiative to reduce business costs in Queensland. The Victorian government has also announced it will do the same, following a recommendation from its independent Red Tape Commissioner. 
Will this have any implications for home owners and home buyers? 
None. This does not affect residential real estate.
Will this have adverse implications for small and medium sized commercial real estate agencies? 
No. This will only benefit large commercial property owners. These do not use small commercial real estate agencies for their management. Those large commercial property owners who do use large third-party managers (such as JLL, Savills) will still opt to use those agencies because they bring professionalism and experience.
Why did State Governments require regulation and licensing of these large commercial property owners in the first place? 
This was regulation by historical accident. The original legislation was in existence prior to the rise of the professional commercial property industry in Australia and before the founding of companies such as Westfield (now Scentre Group) and Stockland. Because an agency relationship existed between these companies and their managers (even when the manager was a ‘related entity’) they were ‘caught’ by the legislation.
If this removal of regulation so minor, why are the Real Estate Institutes opposing it? 
Not all REIs are opposing. The REI Queensland supported the exemptions, although it specified a minimum threshold for defining a ‘large commercial property owner’. We agree with their minimum.
The attitude of the REINSW and REIV is puzzling since it will have such a limited impact. We have been told privately by some of their officials that they fear this will be the ‘thin end of the wedge’, leading to the removal of all licensing requirements for commercial property agents. They fear this will lead to more competition in the industry. This should not be a consideration for governments.
Is there a precedent for removing a portion of an industry from regulation? 
Yes. It is common for Parliaments to decide that there are entities that are large enough, and commercially sophisticated, to look after themselves in commercial transactions.
For example large retailers (those whose floor space is more than 1,000 square metres or whose rent exceeds a certain threshold) do not get the protection of the Retail Leases Act.
Parliaments decided that retailers such as Coles and Woolworths do not need the protections of this legislation, which was to be confined to ‘small retailers’. This is the same.
Companies as large as AMP and Lend Lease do not need to be protected in business dealings with their managers.
Is this being rushed through? 
No. Debate on this issue has been going on for more than 10 years. The ‘related entity’ exemption has been recommended (twice) by the NSW Independent Pricing and Regulatory Tribunal (IPART) and by the independent Review of the NSW Property Stock and Business Agents Act. 
Both the ‘related entity’ and ‘large property owner’ exemptions were recommended in the Regulatory Impact Statement on the proposed national license for real estate agents. Both exemptions were recommended in Queensland by the Red Tape Reduction Review of the Property Agents and Motor Dealers Act, which led to the exemptions being legislated in Queensland (see Q.6). 
Milton Cockburn is an adviser to Shopping Centre Council of Australia.
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po-LsXgBTHBmX

Why real estate agent licensing requirements for large commerical property owners are unnecessary 

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Prices for corporate car spaces outside of Melbourne CBDs have doubled as supply dwindles, according to Savills.
The Quarter Times Melbourne Office report from Savills Australia recorded that car spaces in the suburbs, notably within the inner east and south-east and CBD fringe, have seen their rent increased by up to 145%.
In some instances, this looks like a $90 per calendar month car space rent in mid-2009 jumping to between $170 to $220.
Meanwhile, the cost of parking in the CBD is up 27%, from $550 as the top monthly rate in mid-2009, to $700 in 2014.
St Kila Road parking remains at the same rate - $240 to $300 per calendar month.
The huge rises in some areas is noted as reflecting the increasing sale and commercial development of smaller infill sites and allotments that had previously been used as cheap car parks, explained Savills Australia Victorian head of research Glenn Lampard.
“Melbourne has some of the fastest growing metropolitan regions in the nation but governments have been slow or unable to provide the necessary public transport infrastructure. That means our roads become clogged with cars looking for a parking space,” Lampard said.
“Consumers that frequent our vibrant inner city retail strips would only be too familiar with this issue over recent years, with a plethora of parking meters going beyond the retail strip, stretching into surrounding streets,” he said.
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Leases jump by up to 145% for car spaces outside Melbourne CBD: Savills

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Industrial property’s total vacancies continues to increase, according to Knight Frank Research, with 2.17 million square metres on the eastern seaboard available.
For perspective, this is 29% higher than Knight Frank recorded 12 months ago in their Industrial Vacancy Analysis.
Much of this vacancy rise has been a result of Melbourne’s market – which has increased by 29%.
Knight Frank national director of Research &amp; Consulting Matt Whitby said that rises have also been seen in Brisbane, and in Sydney, which has stopped an improvement previously being recorded.
“As at July 2014, the Melbourne industrial market continues to account for the highest proportion of east coast industrial vacancies with a 37% share of available space followed by Sydney which accounts for 36% of vacant space and Brisbane accounting for a share of 27%,” said Whitby.
“Although the level of prime grade industrial space across the Australian East Coast market remains marginally lower than secondary accommodation, the gap continues to narrow.”
Whitby also said that firm enquiry is still being seen for sub-2,000 square metre leasing options, and tenants are continuing to upgrade to prime industrial stock.
“This reaffirms the trend, in evidence since late 2013, where companies are increasingly making decisions for the longer term off the back of greater confidence levels, rather than taking short term space within secondary buildings as a hold over measure,” he said.
“With some further speculative supply in addition to several pending vacancies forecast to be added to the vacancy count in the October quarter, the market will be looking to an improvement in leasing absorption to prevent a further increase in the level of available space”.
Total vacancies of prime stock, as of July 2014, is at the highest level since the series began, and accounts for 49% of east coast vacancies, the report explains. This is 34% higher than just two years ago.
However, managing director of industrial Greg Russell said that it’s actually a promising outlook across the east, as tenant requirements begin to pick up.
“Not only is prime available industrial space well above the long term average, but speculative development (both completed and under construction) increased sharply over the past quarter, rising by 56% to total 277,452sqm and now accounts for 13% of all East Coast industrial available space,” said Russell.
Despite this, the pipeline of “speculative development” under construction has almost doubled over the past quarter and is at the highest level since the beginning of the series.
“More options continue to emerge for larger space users in Sydney, with 18 prime opportunities above 10,000sqm (compared to 14 last quarter), while 15 over 10,000sqm exist in Melbourne (down from 16 options), and there are nine prime vacancies above 8,000sqm in Brisbane (compared to eight last quarter),” he said.
In Sydney, CBRE research has suggested that a significant number of new developments will prove a positive for the industrial property market, with their 2014 Industrial MarketView Q2 report suggesting it will be a strong base.
They noted that by the close of 2014, 600,000 square metres of new supply over 5,000 square metres will be added to the market.
CBRE research manager Mark Lafferty has said that the scheduling of the projects would be a positive, but that there is uncertainty around the funding of some projects.
“As a result, the surrounding industrial markets are positioned to benefit from a lift in investor sentiment levels, as well as stronger demand for industrial space,” he said.
“The greatest additions of new supply are in Sydney’s outer west, where 58% of the 2014 supply pipeline is being delivered,” Lafferty said.
“Future supply is being built to best service the growing transport and logistics sector, with a focus on super prime logistics facilities that have sound accessibility to existing and planned transport infrastructure.”
Major projects include the $11.5 billion WestConnex project and the $3 billion FS-M2 tunnel link.
Sydney’s industrial sales activity also saw an uplift, with $395 million selling over the three month period – up 73% from the same quarter in 2013.
See over page for a state-by-state breakdown.
Turn to page three for information about industrial sector yields.
<hr class="system-pagebreak">
KNIGHT FRANK’S BRISBANE, MELBOURNBE, SYDNEY AND PERTH ROUND UP
Brisbane
<ul>
<li>Available space up to new highs over past quarter 
</li>
<li>Above-average take-up of space</li>
</ul>
Knight Frank managing director of industrial Greg Russell:
The take-up indicated that there is been a welcome return to the market of smaller to medium size tenants with ten of the 17 vacancies absorbed over the quarter under 5,000sqm, which is the lifeblood of much of the Brisbane market. At the same time, there is also strong demand at the larger end of the scale, which was dominated by retailing or logistics occupiers who are currently focused on newly built accommodation.
There has been good absorption of both speculatively developed and D&amp;C offerings in recent months, and while this is a positive in terms of demand, the backfill space left by these larger tenants has been a factor in the vacancy increases.
Take-up was strongest in the South and South West markets, as the South saw significant take-up of secondary space and the South West saw solid absorption of prime assets, boosted by speculative construction in the region. Good take-up of speculatively developed space is expected to trigger more commencements in the South West, South and TradeCoast markets.
Sydney
<ul>
<li>Vacant property levels up 12.6% over the past quarter 
</li>
<li>Now at 770,014 square metres total vacant space 
</li>
<li>Increase in available speculative stock</li>
</ul>
Knight Frank managing director of Western Sydney Derek Erwin:
Gross take-up for the quarter to July measured 98,276sqm, which is 17% below the average level since the series began in 2011. Additionally, the absorption figure continues to be boosted by some vacant possession sales to owner occupiers. Absorption of prime stock has outpaced secondary by a factor of two to one over the past 12 months (excluding D&amp;C’s).
Fifty-three per cent of take-up (excluding D&amp;C’s) over the past 12 months has occurred in the Outer West, while additional deal activity in the region has also been achieved in the pre-lease market given land availability. It is noted, however, that land supply is expected to start seeing some of the pre-lease demand move into the North West and South West regions in the short to medium term.
Melbourne
<ul>
<li>Three months to July 2014 saw available industrial space increase by 10% 
</li>
<li>Total of vacant space now at 807,269 square metres 
</li>
<li>This is the highest level in almost five years 
</li>
<li>It’s 38% above the historical average 
</li>
<li>Take up has been stable for the past three quarters 
</li>
<li>Increase in available speculative stock</li>
</ul>
Knight Frank’s state industrial director Gab Pascuzzi:
The second quarter total take-up of 82,107sqm across eight buildings greater than 5,000sqm, remains 41% below the historic average of 138,961sqm. Notably, gross absorption recorded over the quarter was entirely within backfill space.
Speculative space under construction grew by 20,299sqm to reach 61,771sqm, 27% above its long term average. Four out of the seven projects currently under construction are located in the South East, while in contrast there are no speculative developments under construction in the West.
Perth
<ul>
<li>Over the quarter, available industrial space increased by 8% 
</li>
<li>Available space now totals 303,562 square metres 
</li>
<li>An influx of sub-lease space has entered the market, up 42% on last quarter 
</li>
<li>Sub-lease space available totals 69,776 square metres – 23% of the total</li>
</ul>
Knight Frank state industrial director Jarrad Grierson:
A growing number of vacancies has offset relatively strong leasing take-up over the three months to July 2014, as an increasing number of smaller secondary assets become available in the Perth Industrial market.
See over page for information about the leasing environment for the industrial sector.
<hr class="system-pagebreak">
New information from JLL has looked into the currently available yields for investors looking towards industrial property, noting that the stable fundamentals are attractive to many.
According to their quarterly research statistics, transaction volumes are indeed up 35% in the first half of 2014 compared to the same period in 2013, with almost $1.6 billion in industrial sales year-to-date 2014.
Melbourne and Sydney have led the sales activity in the second quarter of 2014. Construction wal also noted to be accelerating, with new supply to get to a record high since 2008 levels, and average rents to remain steady.
JLL head of industrial Michael Fenton said that investment activity is at present very solid, with capital allocation to the industrial sector exceeding available product by five times.
The average sale price in 2014 totals $18.4 million, with a $21 million record per sale set last year.
 “Our expectation is that vendors will increasingly be encouraged by price signals and the depth of capital evident in the market to selectively bring assets to the market to crystalize gains made over recent years or to exit underperforming assets,” said Fenton.
“Buyers remain led by the major and smaller domestic A-REITs and their managed funds, mid-tier boutique funds, syndicators and some high-net worth private investors.”
In the second half of 2014, the expectation is that larger offerings will see offshore interest, and Fenton predicts one or two new entrants without current exposure to Australian property.
Upcoming expectations include the first time that more supply has been completed in Brisbane than Sydney, and the first time since 2006 that Melbourne has overtaken Sydney.
Softer leasing is being experienced in Melbourne and Brisbane for both rental growth and market incentives.
Minimal evidence of rental growth over the past few quarters was recorded, with flat average face rents.
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Industrial property vacancies continue to rise, but overall outlook promising: Knight Frank

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CBD office markets in Australia are still seeing substantial foreign investment interest, with sales to foreign investors recently topping their 10 year record, according to Savills.
Approximately $12.8 billion of office sales, including those outside the CBD, were recorded in the 12 months to June 2014. Foreign buyers were responsible for 39% of the sales - $5 billion, explains Savills national head of research Tony Crabb who compiled the information.
<img src="/images/2014/08/06/savills-aug-6-one.gif" alt="">
During the 12 months, 246 properties were purchased. In the 12 months prior, the total was 199, and the five year average was recorded as 191.
Of $6.8 billion of CBD office transactions nationally, foreign investment totalled 47% of the purchases, or $3.2 billion, with much of the capital coming from Europe and South East Asia, as well as Mainland China.
<img src="/images/2014/08/06/savills-aug-6-two.gif" alt="">
Savills International Investments’ Ben Azar said the results were positive for the market.
“This is a very good sign for the Australian property market and as a result in key markets such as Sydney and Melbourne we anticipate further yield compression particularly in respect to quality long leased landmark assets,” said Azar.
"With such a depth of buying power we expect the off-shore capital to become even more competitive over the balance of 2014," he said.
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Australia’s CBD offices maintain place on foreign investment radar

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The Blue Buddha is a new vegan offering to Melbourne’s café scene.
Officially opened on 27 July, the vegan café is located opposite the Queen Victoria markets.
With a focus on Fairtrade, organic and vegan coffees and food, the store’s fit out also includes recycled materials for their tables, chairs and crockery.
The food includes raw cakes, such as avocado chocolate cake, and a shitake mushroom based vegan bacon.
Located at 30/1 O'Connell Street, North Melbourne, it is a small 44 square metre site now painted with a frontage of a blue Buddha, to match the shop’s title.
<a href="https://sha.com.au/view.php?listing_id=5624" target="_blank">Upstairs is currently available for lease</a> as student accommodation in the Victoria Terrace Apartments development with 15 studio and 12 one-bedroom fully furnished apartments from $280 per week through Student Housing Australia.
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Blue Buddha, vegan café opens in North Melbourne

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A new record land rate for North Melbourne, of $6,358 per square metre, has been set by a Chinese buyer who paid $13.2 million for an office building on the edge of the CBD. This totaled 32% over reserve, according to Savills Australia selling agents Clinton Baxter and Nick Peden.
The property, 13-21 Bedford Street, was owned by Engineers Australia and is currently leased to six tenants totaling 52%.
It is a 2,219 square metre building on 2,079 square metre site. It is zoned mixed use, which has the potential for development of up to 24 metres or approximately eight levels.
It isn’t clear what the buyer intends to do with the site in the long-term, however redevelopment is a clear option. In the short to medium term, the property will be leased.
“The price of $13.2 million reflects a new land value record for North Melbourne of over $6,000 a square metre and is an indication of the immense competition for high quality properties with strong development fundamentals,” said Baxter.
In total, the campaign attracted 125 enquiries and 29 inspections.
There were then 11 expressions of interest, and Peden notes that the top three buyers were off-shore located.
“We have had enormous enquiry from off-shore buyers for similar properties with development potential and so it was no surprise that there was such strong foreign interest in this property,” he said.
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Chinese buyer pays 32% over reserve, a record land rate, for North Melbourne office site

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Investors secured seven NSW offerings of 7-Eleven service stations at auction yesterday, but the average 4.6% yield was tighter than the 6.8% two years ago.
Generating $33.08 million in sales, the top price was $6.01 million for a Lane Cove Road, Macquarie Park, North Ryde property (pictured above), which sold on a net yield of 4.96%.
 The other service stations sold on net yields of between 3.85% in Dee Why and 5.04% in nearby Mona Vale - all with 15-year leases to 7-Eleven.
The 15-year lease terms that commenced between 2010 and 2012, come with three five-year options; guaranteed fixed 4% annual rent increases, with the tenant responsible for all outgoing costs except land tax.
JLL’s John Macree, Leslie Cheng and Dylan McEvoy marketed the properties on behalf of the Withers Barlow Property Trust.
More 7-Eleven service stations, two in South East Queensland and six in Melbourne, will be auctioned this week.
Russell Withers, worth an estimated $665 million according to the recent BRW Rich list, jointly owns the rights to 7-Eleven in Australia with his sister, Beverley Barlow.
Jones Lang LaSalle has been selling the stores in tranches on behalf of 7-Eleven since early 2011.
The stores were purchased as part of 7-Elevens acquisition of 250 retail sites from Mobil Retail in 2010.
In 2011 seven properties in Thomastown, Clifton Hill and Noble Park in Victoria, Blacktown East, West Gosford and Long Jetty in NSW and Robina in Queensland were successfully auctioned by Jones Lang LaSalle with net yields ranging between 7.28% and 7.95%.
The purchasers have been attracted by land rich investment properties in prime locations with secure long-term leases and fixed rental increases.
7-Eleven Stores is the biggest convenience retailer in Australia, operating about 600 stores.
Many of the buyers were self-managed super fund retirees looking for passive cash flow investments, seeing the opportunity as ticking the box for a premium tenant on long-term lease, high underlying land value, rental growth guarantee, and high-profile exposure locations.
The New South Wales 7-Eleven convenience store and service station investments sold:
<ul>
<li>Ashfield, 132 Hume Highway – 1,524 square metres, sold for $4.9 million with a yield of 4.21%</li>
<li>Camperdown, 198 Parramatta Road – 1,107 square metres, sold for $3.65 million with a yield of 4.72%</li>
<li>Dee Why, 940 Pittwater Road – 1,867 square metres, sold for $5.05 million with a yield of 3.85%</li>
<li>Mona Vale, 38 Barrenjoey Road – 1,573 square metres, sold for $4.325 million with a yield of 5.04%</li>
<li>Macquarie Park / North Ryde, 404 Lane Cove Road – 1,716 square metres, sold for $6.01 million with a yield of 4.96%</li>
<li>Sans Souci, 476 Rocky Point Road – 1,538 square metres, sold for $4.55 million with a yield of 4.96%</li>
<li>St Ives, 157 Mona Vale Road – 2,257 square metres, sold for $4.6 million with a yield of 4.94%.</li>
</ul>
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Yields tighten in latest 7-Eleven Sydney service station offering 

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Clothing, jewelry and cruelty-free makeup shop Save Yourself is undergoing a move from the Hardwick Building to a new Brunswick Street address.
Their new address, set to be <a href="https://www.realcommercial.com.au/property-retail-vic-fitzroy-500967639%20%20" target="_blank">284 Brunswick Street, Fitzroy</a>, was up for lease through Fitzroys – Melbourne and has a floor area of 98 square metres. It adjoins the newly opened Stagger Lee’s café, includes rear access and had an advertised rent of $75,000 per annum plus GST and outgoings.
<a href="https://www.saveyourselfboutique.com.au/pages/the-shop" target="_blank">Save Yourself</a>'s opening date is yet to be confirmed, but will retain its focus on local and sustainably made eclectic products.
Formerly known as OKOK, known for hosiery, they officially opened their <a href="https://www.commercialrealestate.com.au/property/2009842498/for-sale/vic/brunswick/retail" target="_blank">Hardwick Building, Sparta Place, 459 Sydney Road store</a> as Save Yourself on 20 September 2012. Their last open day prior to the move was 19 July.
OKOK had held the Shop 16 property on a two year lease, with rent at $18,616 per annum plus GST. The store was 24 square metres plus mezzanine, with outgoings paid by the tenant.
At their Sparta Place residence they’d previously held pop-up bake sales with local Hello You bakery and held The Design Journey exhibition.
Their previous premises are re-let through Red Dot Real Estate.
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