Sydney developer <a href="https://www.apartments.com.au/developers/odus">ODUS Property Group</a> is continuing to expand its local Gold Coast development pipeline, filing plans for a new 40-storey tower in the Southport CBD.

Odus, which bought two luxury Main Beach projects, now La Mer and Le Reve, to make its move into the booming Gold Coast apartment market, has secured its third site. But it is tweaking the plans for a previously proposed 50-storey skyscraper, now seeking to deliver 40 storeys.

The project, dubbed <a href="https://www.apartments.com.au/new-apartments/80-marine-parade-74-80-marine-parade-southport-qld-4215">80 Marine Parade</a>, sits on a prime&nbsp;2,032 sqm amalgamated corner site at 74–80 Marine Parade and 4 Welch Street, across the road from the Gold Coast Aquatic Centre. It will have unobstructed, never-to-be-built-out views to the east given its position opposite the Broadbwater Parklands.&nbsp;

The plans are for 316 apartments, ground-floor retail, and resort-style resident amenities. The project sits within Precinct 1 (Central Business District) of the Southport Priority Development Area, where high-density residential and commercial development is actively encouraged.

BGD, ran by Bayden Goddard and the architecture firm behind Le Reve, has revised the original concept plans, substantially reworking the built form. Basement parking has been replaced by an expanded podium designed to improve functionality while reducing the tower's overall visual impact.&nbsp;&nbsp;

<img alt="First look: Odus Property Group plots landmark 40-storey tower for Southport's Broadwater gateway" data-entity-type="file" data-entity-uuid="0f13d065-2cf5-45ec-aa17-1a03754d93d8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Southport%20da%202.png?VersionId=.9QS2n7kBc_U3PyaI247uOyNSXIqnXSE" />

The tower rises above the eight-storey landscaped podium with a distinctive architectural language defined by sweeping arches, integrated greenery, bronze-toned glazing, and a sculptural rooftop crown.

The development will comprise 104 one-bedroom apartments, 208 two-bedroom apartments, and four four-bedroom penthouses across levels 9 to 36. Apartments are designed to accommodate both permanent residents and short-term accommodation within the same building.

A double-height lobby and reception will anchor the ground floor alongside a 23 sqm food and drink outlet, activating the Marine Parade frontage.

Parking will be accommodated within the podium, providing 288 vehicle spaces and 74 bicycle spaces, accessed from Welch Street.

<img alt="First look: Odus Property Group plots landmark 40-storey tower for Southport's Broadwater gateway" data-entity-type="file" data-entity-uuid="d7528b91-2c47-4094-98b3-5eecbacc0041" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Southport%20da%20podium.png?VersionId=efF5oWs4T9PDvxJwJEDHu5kSQ5eE3IBy" />

Residents will have access to an extensive suite of amenities spread across multiple levels. A podium recreation deck will include a swimming pool, spas, sauna, steam room, cinema, residents' lounge and children's games room, while a second wellness level near the top of the building will feature a gym, co-working spaces, reading room, dining areas and communal kitchen. Extensive podium landscaping wraps the building to soften the built form and strengthen its interface with the surrounding streetscape.

The planning report notes the project responds directly to Southport's ongoing urban transformation.

"Consistent with much of Southport, the surrounding area is undergoing significant transition, with many older low-rise developments progressively being redeveloped for higher-intensity urban outcomes, as envisaged within Precinct 1."

It also states that the proposal "will contribute to a defined and legible eastern gateway to the Southport CBD, reinforcing the area's high-density urban character while maintaining a strong visual connection to the adjoining public open space network."

<img alt="First look: Odus Property Group plots landmark 40-storey tower for Southport's Broadwater gateway" data-entity-type="file" data-entity-uuid="0b9fdebd-4b35-400b-a287-6bd1cdbcdb1b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Southport%20da.png?VersionId=4LG35XR5mfir7jvG2TShtQx.utMLYBxu" />

Located opposite the Broadwater Parklands, the site enjoys immediate access to the Gold Coast Aquatic Centre, Australia Fair Shopping Centre, TAFE Queensland Southport campus, the G:link light rail corridor and Southport's established commercial precinct. The location places future residents within one of the Gold Coast's fastest-evolving mixed-use centres, where numerous high-rise residential projects are reshaping the CBD skyline.

Odus is headed by development professionals Byron Sakha, Jarrod Younan and Sebastian Younan. The Younans also head family-owned builder Nazero Constructions, established in the 1960s.

They are currently delivering La Mer, 24 luxury apartments on Main Beach Parade, and Le&nbsp;Rêve, on the same street but on the prized beachfront side of the sought-after strip.

Joel Robinson

ODUS plans landmark 40-storey tower for Southport's Broadwater gateway

A boutique collection of just 10 residences could become the catalyst for the next phase of renewal along the southern end of Surfers Paradise Boulevard, with new plans laid for a mixed-use tower designed to transform a long-vacant site.

The proposal for <a href="https://www.apartments.com.au/new-apartments/3098-surfers-paradise-boulevard-surfers-paradise-qld-4217">3098 Surfers Paradise Boulevard</a> has been conceived as more than a standalone residential project. Designed by <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, the development aims to spark the revitalisation of what the design team describes as the "South Boulevard" precinct, creating an active streetscape with retail uses at ground level beneath a collection of full-floor luxury residences.

The application, by PR Property Holdings, an entity directed by the Brisbane-based Ryan and Petrovic families, seeks approval for a 17-storey, 62.2-metre mixed-use development on a compact 427 sqm site between Surfers Paradise Boulevard and Appel Street.

The project will comprise just 10 apartments, including eight full-floor residences and two duplex apartments, positioned above a two-level retail podium. Three podium parking levels will accommodate 26 vehicle spaces, while a recreation deck is proposed on Level 4.

<img alt="First look: PR Property Holdings plans boutique apartment tower to kickstart Surfers Paradise's 'South Boulevard' revival" data-entity-type="file" data-entity-uuid="46cfa37d-5051-4449-8d8e-6724f8ca0d59" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_8.png?VersionId=e7UkeV1eTZAC2lXhdq72E3jpUbwiFD2t" />

Rather than pursuing apartment volume, the proposal focuses on large-format homes with a slender tower form intended to maximise outlooks while limiting visual bulk.

BDA Architecture said the proposal has been designed to become an urban renewal catalyst for the precinct.

"The ambition of 3098 Surfer's Paradise is that it provides the catalyst for incremental infill redevelopment and upgrade of what is coined the 'South Boulevarde' of Surfers Paradise which connects to the beating heart of Cavill Avenue."

The architects added: "An incremental approach to development that provides quality ground plane interface, human scale design, integrated subtropical landscape and semipublic permeable frontage can over time entirely upgrade a precinct."

The architecture adopts soft curves, articulated balconies and a slender tower profile rising from a human-scaled podium. The design report describes the project as delivering "bespoke residences of enduring distinction, sculpted with precision and quiet sophistication," with a focus on timeless coastal architecture.

The application also includes retail tenancies addressing Surfers Paradise Boulevard, reinforcing the site's role as an active mixed-use destination rather than a purely residential address. The planning report states the combination of the podium, landscaping and active frontage is intended to strengthen the pedestrian experience while contributing to the evolving character of the boulevard.

The site occupies a prominent position in the southern section of Surfers Paradise, directly opposite the G:link light rail corridor and within walking distance of Surfers Paradise Beach, Cavill Avenue, the Nerang River and Bruce Bishop Car Park. It is currently vacant, having previously accommodated a single-storey commercial building that was demolished in 2022. The planning report notes the surrounding area is characterised by a mix of commercial buildings and residential towers, with unlimited building height provisions applying under the Centre Zone.

The proposal also replaces an earlier 2022 approval for a restaurant and bar on the site, instead introducing a permanent mixed-use development that combines retail activation with boutique residential living.

Boutique apartment tower to "kickstart" Surfers Paradise's 'South Boulevard' revival

One of Hervey Bay's best-known waterfront landmarks could undergo its biggest transformation in decades, with plans lodged to redevelop the Hervey Bay Hotel &amp; Resort into a four-tower mixed-use precinct combining apartments, retirement living, a new hotel, wellness facilities, retail and an expanded hospitality offering.

The proposal seeks approval to redevelop the 8,981 sqm site at 249 Esplanade, Pialba, transforming much of the existing 1980s-era hotel and resort into a staged masterplanned precinct while retaining the Hervey Bay Hotel as its centrepiece.

Rather than a conventional apartment project, the proposal has been designed as four distinct towers delivered across four stages, each with a different role within the precinct.

<img alt="First look: Four-tower transformation planned for iconic Hervey Bay Hotel site" data-entity-type="file" data-entity-uuid="89db2163-cdf2-484e-90a0-9804ece86a31" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Pialba%20da%201.png?VersionId=JsYhCwLtFk2p72uhjPQBqQ57.vWoIPeB" />

The largest hospitality component sits within Stage Two, which combines a refurbished tavern, sports bar, gaming lounge, bottle shop, lobby café and wellness facilities beneath a new 52-room hotel and 55 apartments, including 30 dual-key residences. The tower rises 14 levels above the Esplanade and includes gym, spa and wellness facilities together with more than 260 car spaces.

Stage One introduces a retirement living component comprising 69 retirement apartments alongside communal facilities, while Stage Three delivers 59 apartments overlooking the Esplanade. Stage Four includes a retail tenancy at ground level with a further 45 apartments above. Collectively, the masterplan provides 228 apartments across the four towers in addition to the new hotel accommodation.

Urban Planet Town Planning Consultants, acting on behalf of Herbay Pty Ltd, says the redevelopment builds on the long-standing role of the hotel within the Fraser Coast community.

"The Hervey Bay Hotel is an iconic use (notwithstanding the current format) and the retention for this facility in the community as an effective and successful business will advance the goals of the Planning Scheme," the town planner noted in its planning documents.

<img alt="First look: Four-tower transformation planned for iconic Hervey Bay Hotel site" data-entity-type="file" data-entity-uuid="cca3617b-693f-40e2-8fa3-f609c2c95d00" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Pialba%20da%202.png?VersionId=8.hhkMuikoiLvoD6ei655Pj9mTKob4xV" />

The planning report argues the redevelopment responds to demand for greater housing diversity, additional tourism accommodation and expanded hospitality offerings within Hervey Bay's established urban area, rather than continued greenfield expansion.

"The delivery of contemporary services in the form of hotels, dining opportunities and short-term accommodation will be the cornerstone of the proposed development and does have a significant community outcome in the retention and expansion of existing services."

The masterplan has been prepared by <a href="https://www.apartments.com.au/architects/oge-group-architects">OGE Group Architects</a> and features three basement parking levels beneath towers rising to around 14 storeys, creating one of the largest integrated mixed-use developments proposed for the Fraser Coast. The design also incorporates gym and wellness facilities, communal recreation areas, retail space and new landscaped public interfaces across the four street frontages.

The site occupies a prominent waterfront block bounded by the Charlton Esplanade, Thomas Street, Watson Street and George Street, immediately opposite the foreshore and within walking distance of Hervey Bay's city centre, Wetside Water Park and surrounding commercial precinct. The existing Hervey Bay Hotel &amp; Resort currently occupies the site, with buildings dating largely from the 1980s.

First look: Four-tower transformation planned for iconic Hervey Bay Hotel site

The transformation of the Gold Coast’s CBD of <a href="https://www.apartments.com.au/developments/southport-qld-4215">Southport</a> is underway with the official commencement of one of the area’s first ‘next generation’ towers, the $200 million Maris residences.

More than 250 onsite and offsite workers will deliver the project being delivered by Malaysian company <a href="https://www.apartments.com.au/developers/mrcb">MRCB International</a> and its build partner, <a href="https://www.apartments.com.au/builders/binah-constructions">Binah</a>.

The start of construction by Binah follows an exceptionally strong sales campaign, with more than 90 per cent of apartments sold since its market launch less than a year ago.

The project has attracted predominantly local buyers and downsizers, many of whom who live and work in the CBD or the nearby Health and Knowledge precinct.

[smartcode_project:default project_id=134403 project_image_fid=372756]

The commencement of construction was marked by an official sod turning ceremony on site today (Friday, August 7).

MRCB International CEO Ravi Krishnan said MRCB was delighted to be playing a part in the transformation of the Southport precinct.

“We’re very aware of the importance of Southport as the CBD hub of the Gold Coast and the need for high-quality residential facilities for locals who live and work in the area,” said Krishnan.

"Across Southeast Queensland, new apartment supply remains constrained, particularly in established precincts with infrastructure and amenity already in place. Projects like Maris are increasingly critical in meeting that demand, especially on the Gold Coast and in the city's CBD precinct."

&nbsp;

[smartcode_project:default project_id=134403 project_image_fid=350661]

Binah's Managing Director Khalil Hafza said the company was delighted to be constructing Maris in its first foray into the Gold Coast market.

“Binah has been in Queensland for some time but we are very pleased to be given the opportunity to construct a project of such magnitude on the Gold Coast,"&nbsp;Hafza said.

“Some 250 on and off-site tradespeople and consultants will work on Maris over the course of the next two years bringing significant economic benefits to the Gold Coast community.”

Maris will deliver 192 residences across 20 levels. The project forms part of an Australian and New Zealand development pipeline by MRCB now exceeding $1.6 billion in gross development value, alongside a growing portfolio of projects globally.

The company also commenced construction on its $600 million 26 Vista residences in Surfers Paradise last year, following strong sales momentum, with over 70% of residences sold.

[smartcode_project:default project_id=134403 project_image_fid=372760]

Positioned next to the Broadwater in the Southport CBD, Maris will sit directly opposite the Broadwater Parklands light rail station and within easy reach of retail, dining and lifestyle precincts, placing residents at the centre of one of the Gold Coast's most connected and rapidly maturing urban centres.

Maris will offer a full suite of resort-style residential amenities, including a pool, gym and sauna, along with a rooftop level featuring decks, lounges and dining and yoga areas that command sweeping views across the Broadwater and out to the ocean.

Construction at Maris is anticipated to be completed in 2029.

[smartcode_project_cta:default project_id=134403]

MRCB and Binah mark start of construction on $200m Maris Residences in Gold Coast CBD

To say Frank Licastro is keen on Wyandra Street, the small 400m strip that straddles Teneriffe and Newstead, would be an understatement.

Licastro, who runs Frank Developments, first jumped onto the street with <a href="https://www.apartments.com.au/new-apartments/ducale-teneriffe-33-wyandra-street-teneriffe-qld-4005">Ducale Teneriffe</a>, just 26 apartments at 33 Wyandra Street.

With those apartments heading towards construction completion later this year, Frank went again just a few doors down with the recent launch of <a href="https://www.apartments.com.au/new-apartments/murano-teneriffe-37-wyandra-street-new-farm-qld-4005">Murano House</a>, a further collection of 41 apartments at 37 Wyandra Street.

Now Licastro is planning his third building on the strip.

Frank Developments has submitted plans to Brisbane City Council for a considerably larger 147-apartment project across an amalgamated 1,928 sqm site at <a href="https://www.apartments.com.au/new-apartments/22-40-wyandra-street-teneriffe-qld-4005">22-40 Wyandra Street</a>, which also runs through to Wyatt Street.

The Cavill Architects-designed proposal, on the opposite side of the street to Ducale and Munro House, will rise to 22 storeys at its tallest point, stepping down towards Wyandra Street as the building transitions between the higher-density Newstead skyline and the lower-scale character of Teneriffe.

<img alt="Frank" data-entity-type="file" data-entity-uuid="fe60dd88-c9f1-495c-b918-ddfd5dbae504" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-17%20at%207.57.08%E2%80%AFAM.png?VersionId=0cxIChr_1aSNoE3K3VbVl8qNyENf4a90" />

The plans comprise just two one-bedroom apartments, with the project overwhelmingly geared towards larger apartments. There will be 80 two-bedroom apartments, 58 three-bedders, six four-bedroom apartments and a single five-bedroom residence.

The apartment mix continues the owner-occupier focus Frank has pursued across its recent inner-Brisbane developments.

There will be 222 resident car spaces and seven visitor spaces across four basement levels, along with 166 bicycle spaces.

Cavill has approached the architecture as a transition between two very different parts of inner Brisbane.

The site effectively sits on the dividing line between Newstead's high-density mixed-use precinct and Teneriffe's medium-density residential area, something that has heavily influenced the massing of the building.

Rather than presenting as a single 22-storey tower, the building steps up from a 13-storey form towards Wyandra Street to its taller 22-storey element towards Wyatt Street and Newstead. The design documents describe the taller component as the "backdrop massing", with the lower form creating the transition towards Teneriffe.

The architecture itself also changes as it rises.

At the lower levels, Cavill has drawn from Teneriffe's heritage buildings and the tuff stone found below ground, before shifting towards a more contemporary Newstead-inspired tower expression with continuous balconies higher up.

<img alt="Frank 2" data-entity-type="file" data-entity-uuid="3c6953c7-f65c-4ca5-bba0-08c1782b72af" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-17%20at%207.56.33%E2%80%AFAM.png?VersionId=NxHPok5FY.omKhxPVqVWIN9ONqfoQV53" />

Frank is also proposing a significant amount of resident amenity throughout the building rather than concentrating everything on one recreation level.

Amenity terraces are proposed at levels 13 and 16, before another major rooftop terrace at the top of the building. The plans show a pool terrace and landscaped outdoor spaces, with shaded outdoor rooms, tree planting and protected "City Rooms" incorporated into the shared areas.

At street level, the project will also seek to open up the connection between Wyandra and Wyatt streets.

A currently constrained pedestrian laneway along the northern boundary would be expanded, while a double-height "City Room" would be created on Wyandra Street. A separate two-storey outdoor arcade would run through the site from Wyandra Street to Wyatt Street.

The ground floor plans also show food and beverage tenancy space alongside the residential lobby, lounge, office and landscaped public areas.

Cavill says the intention is to create a more generous and heavily landscaped Wyandra Street frontage, with weather protection and public spaces designed to encourage people to spend time at street level.

Frank has been busy across Brisbane and the Gold Coast in recent years, with two ultra-luxury projects under construction in Surfers Paradise, as well as several projects in the pipeline across New Farm and Hamilton in Brisbane.

&nbsp;

First look: Frank Developments triples down on Teneriffe's Wyandra Street

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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Since the onset of the global financial crisis, migration between Australia’s states and territories has slowed.  
Demographic data released by the Australian Bureau of Statistics (ABS) shows that overseas migrants arriving in the country’s mining states is easing, with most preferring to settle in New South Wales and Victoria.
Over the 12 months to December 2013, there were 235,797 net overseas migrants to Australia while the rate of natural increase was recorded at 160,357.  At a national level, interstate migration cancels itself however, looking at each state you can see that over recent years there are far fewer people moving between the states and territories.
By way of net migration, New South Wales continues to lose residents at a slower rate, while Victoria is the only state where there is a significant rise in the cross border inflow of residents.  
The mining states of Queensland and Western Australia have each seen a fall in both net interstate and net overseas migration over the year. This is a flow on from the slowdown in mining construction activity where activity on these projects move from construction to production which is resulting in lower worker demand.
New South Wales is still seeing a net outflow of residents from the state with a net 11,219 residents leaving the state in 2013.  Over the past 20 years, the outflow of residents has averaged a much higher 18,391 persons.  While the state is seeing some outflow to other states it is well and truly making up for it via the 71,446 net overseas migrants over the year.
<img src="/images/2014/07/31/kusher-july-31-one.gif" alt=""> 
Victoria has recorded an annual average net loss of citizens to other state and territories of 2,278 residents over the past 20 years. Victoria is now attracting a record number of net interstate migrants, with 7,528 new residents moving from other states last year.  Victoria also attracts a significant 62,337 net overseas migrants.
<img src="/images/2014/07/31/kusher-july-31-two.gif" alt=""> 
In Queensland the net inflow of residents from other states and territories is close to a record low. During 2013, Queensland’s net interstate migration was recorded at 6,897 persons compared to a 20 year average of 22,743 per annum. Although Queensland attracted 37,355 net overseas migrants, it is a sharp fall from the 46,161 at the same time in 2012.
<img src="/images/2014/07/31/kusher-july-31-three.gif" alt="">
South Australia has historically shown a much more stable level of population growth. Over the 2013 calendar year, South Australia lost a net figure of 3,994 residents to other states which was slightly higher than the average net loss of 3,263 residents over the past 20 years. Over the 12 months to December 2013, South Australia recorded net overseas migration of 11,872 residents which was slightly higher than the 11,203 over the same period the previous year.
<img src="/images/2014/07/31/kusher-july-31-four.gif" alt="">
Western Australia has seen a downturn in both net interstate and net overseas migration over the past year. Compared to the 20 year average net interstate migration, WA migration is still above average however; it has fallen by -56% over the year to 4,800 persons in 2013. Net overseas migration has also fallen from 56,580 in December 2012 to 45,401 persons in December 2013. 
<img src="/images/2014/07/31/kusher-july-31-five.gif" alt="">
Historically, residents have migrated from New South Wales and Victoria to Queensland and to a lesser degree Western Australia. Since the onset of the financial crisis the outflow of citizens to Queensland and Western Australia has slowed with fewer residents leaving New South Wales and Victoria.  
The sea change phenomenon was a big driver of this migration before the financial crisis. It now seems that when someone has secure employment, particularly in New South Wales and Victoria, they are less inclined to trade that in and move interstate.
With unemployment rising nationally and demand for workers in the resources sector slowing we would expect this trend to continue over the coming year.  In fact the net loss of residents from New South Wales may reduce further and the net gain of residents in Victoria may increase.
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ckusher-ujnxiKuFQs

Interstate movements remain low, but Victoria attracting a record number of interstate migrants

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One of the joys of my job is listening to people's investment stories - how they've achieved what they have so far and where they are heading.
One of our female clients has six children, is an accountant and owns eleven investment properties after completing two property developments with Property Bloom. To state the obvious, she's time poor, I've written about Rachel in the past...
<a href="/expert-insights/buying/focus-determination-and-drive-are-key-to-property-investment-success-jo-chivers">How does a mother of six come to accumulate eleven investment properties?</a>
Another client is a family man and fellow soccer coach, man does he loves his football! We met years ago as our sons played for the same club, but he didn't know what I did until he read an article in a property magazine that I'd written. Busy with work, soccer and family commitments and with no development experience, he asked me to manage a project for him. Then he embarked on a long-term holiday; we organised the builder to pre-invoice his drawdowns so we could manage the bank payments while he toured Europe.
Another lovely couple recently completed a three villa development with us, she works at a university and he's an engineer, both highly educated. They referred their daughter, a law (and soon to be medicine) graduate to us for her first property investment - a dual occupancy project. She was our youngest ever client. When we completed villas, the parents signed up for another project; they had little spare time and I think most importantly, we'd earned their trust.
We managed one development for a client who we are very proud to say served our country in the Australian Army in Afghanistan. She was there right through the duration of her development. I really cherished the updates we would get from this lady, when she had email access, and was amazed at some of the conditions she had to endure. No running water for days – how is a girl to wash her hair!  Needless to say, she had important things on her mind and could not have managed her own development from an active war zone. I've written about her story before too:
<a href="/expert-insights/investing/don-t-let-a-war-get-in-your-way-when-investing-in-property-jo-chivers">Don't let a war get in the way</a>
All our clients are different - they come from varying backgrounds, cultures and employment and we love working with such diverse clientele.  
But there is a common thread I have noticed.
All of our clients are highly driven and time poor.  They are conscious that there is a limited amount of time available in which to build their wealth.  They've told me, that to outsource the management of their property development to someone more experienced and capable was a no brainer. They openly admit that whilst passionate about property development, there is a knowledge gap and for them to come up to speed would take years.
To handover this responsibility to us lets our clients keep doing what they do well, earn a salary to support their financing and spend precious time with those they love.
<a href="https://www.propertybloom.com.au" target="_blank">www.propertybloom.com.au</a>
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jochivers-wq5Bp59R5a

Even the most time poor people can create a property success story

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The Sydney celebrity chef Manu Feildel has announced his South Yarra French bistro, Le Grand Cirque, is closing four months after opening.
Poor bookings, some ordinary reviews about the <a href="https://www.legrandcirque.com.au/assets/pdf/menu.pdf" target="_blank" style="line-height: 1.3em;">menu</a>, along with family commitments appear contributing to the decision.
The Daly Street restaurant was a partnership between Feildel and landlord George Calombaris’s Made Establishment Group. They are judges on Channel Seven’s reality show, My Kitchen Rules
“Le Grand Cirque was a long held dream come true for me,” Feildel said in a statement.
“I want to thank all who have supported me in this venture, especially my mate George Calombaris and the other Made Establishment directors.”
The premises previously housed George Calombaris’ Greek/Italian Mama Baba, which also failed to secure sufficient clientele after two years operation.
The Made group owns the 21 Daly Street premises.
Feildel's Sydney restaurant, L'etoile, closed in January.
He also had a Spanish-inspired restaurant in Potts Point, Sydney with another ­celebrity chef, Miguel ­Maestre, called Aperitif, which closed late 2011.
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Manu Feildel and George Calombaris closing Le Grand Cirque

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The new Melbourne Markets warehouses have been sold for $77.4 million to the Sydney-based property investment and asset management company, Propertylink.
The markets are a huge infrastructure project led by the Victorian government involving the relocation of the fruit, vegetable and flower markets from Footscray to Epping in Melbourne’s North.
Initial facilities will be open in 2015, with the 15.6-hectare site to be fully developed over the next decade.
The purchase reflected an initial passing yield of 9.6%.
It involves five warehouses over 76,000 square metres with 41 tenants so far, with leases ranging from five to 10 years. 
The Melbourne Markets have been located at Footscray since 1969 and the relocation to Epping, 20 kilometres north of the CBD, is hoped to provide wholesalers and retailers with improved transport access.
It will almost triple the available warehouse space. 
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Melbourne Markets at Epping sold in $77 million deal

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Fear not, today is not the last chance to buy La Forêt Enchantee, the Margaret River, Western Australia property.
<a href="https://www.realestate.com.au/property-house-wa-margaret+river-117093403" target="_blank">The property has been marketed</a> as an exquisite 3.5 hectare forested estate, boasting Margaret River frontage complete with private helipad.
Established in 1995 behind heritage French iron gates, La Forêt Enchantee is an award winning accommodation location comprising two villas and a manager's residence at Burnside.
Channel 9's travel show <a href="https://getaway.ninemsn.com.au/fsaustraliawa/southcoast/16879/la-foret-enchantee" target="_blank">Getaway featured it in 2000</a> and again in <a href="https://au.news.yahoo.com/thewest/entertainment/a/7685667/foodies-feast-on-our-delights/" target="_blank">2010</a>. 
Its entrance comes with Arc de Triomphe detailed in Venetian stucco. But that's not all as beyond this there's an Italianate balustrade staircase that sweeps through the forest, descending down into the river garden alongside bronze lions, replica statues from the Trevi Fountain in Italy, topiary and urns.
Even looks like there's a unicorn, though maybe it's a white horse.
"This prestigious property provides a lucrative opportunity for those seeking to operate a well-established accommodation brand either as a lifestyle business or as a larger, more commercial concern," the marketing by Travis Coleman at Acton Consolidated North Real Estate says.
"The gardens inspire an enchanting landscape for romantic engagements and fairy tale weddings as well as absolute peace and privacy for the discerning client in search of a secluded and extremely well located, residential address."
But be aware:
"This rare and highly coveted address is listed for sale by expressions of interest for a limited period and will be withdrawn from the market on 31 July 2014."
Well not quite, as the ad now says:
"This rare and highly coveted address is listed for sale by expressions of interest for a limited period and will be withdrawn from the market on 31 August 2014."
Fee Menzies Stirton and Michael Whyte<a href="https://laforetenchantee.com.au" target="_blank"> have been there since 1991</a>.
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La Forêt Enchantee, the Margaret River, Western Australia retreat offering remains on the market

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Whenever you consider commercial property, it's important to fully understand what the overall yield is likely to be.
And the simple formula to arrive at an estimated overall figure is: yield = income + capital growth.
And investors often ask me how do average yields vary from one sector of the commercial property market to the other?
The short answer is: "They tend not to vary at all."
Now on the face of it, that might seem a strange response. But remember, you are now talking about the overall Yield from the property — not merely the net return, as far as Income is concerned.
Long-term Expectations
From my experience, investors are anticipating an overall yield from their commercial property (i.e. income and growth) of around 12% per annum.
<img class="aligncenter size-full wp-image-14360 colorbox-14357" src="https://his-best.biz/assets/2014/07/Yields2.jpg" alt="Overall Property Yields" width="556" height="306">
<img class="aligncenter size-large wp-image-14358 colorbox-14357" src="https://his-best.biz/assets/2014/07/Yields.tiff" alt="Anticipated Overall Yields" width="1" height="1">As this table explains, the composition of that yield will vary between the sectors.
And yet when taken together, the total for those components is expected to remain the same, across all three sectors.
In other words, if a retail a property is purchased returning 5% per annum, then that investor is anticipating a 7% capital growth each year.
Alternatively, there may be the odd occasion where you can negotiate a "terrific deal" on an industrial property, at around 11% per annum.
However, you need to realise that your capital growth will then most likely be down around 1% per annum.
And the reason you were able to achieve such a high income return was to provide you compensation for the anticipated meagre growth going forward.
Will there be Anomalies?
Of course, there will always be occasions where a vendor is caught in a tight spot; and that will enable you to sneer a great deal. However, that will generally be the exception.
Also, you may have noticed some of the recent retail sales in strip shopping centres occurring at extraordinary returns, as low as 3% net.
On the face of it, those investors are anticipating capital growth of 9% per annum. Unfortunately, that may turn out to be a fond hope — because of the present fragile nature of retailing.
Bottom line: The table above is intended to provide you with a handy guide for calculating your anticipated overall yield from commercial property.
Furthermore, it also enables you to select your preferred risk profile.
In other words, choosing between a higher income return, or higher growth. Or maybe, you decide upon the office sector, to provide a more balanced portfolio.
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Understanding overall commercial property yields

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After a fire at their Altona premises in early-2014, Dome Garden Supplies, an international hydroponic and horticultural specialist firm, have taken a short-term lease in an industrial Laverton North property.
The temporary relocation will see them move their Melbourne operations to 32-34 Pipe Road for a 12 month period, as the Altona facility undergoes a rebuild.
The deal, negotiated by CBRE’s Todd Grima and Harry Kalaitzis on behalf of lessor AC &amp; K Dibb, comes with an additional one-year option on the 3,000 square metre facility.
It includes a high clearance warehouse with dual container height RSDs.
It has access to Princess Freeway and Western Ring Road.
Their previous premises were at 12 Pinnacle Road, Altona North, that saw a factory fire in February.
Opposite, at 11-21 Pinnacle Road is a container yard leased to ANL from November 2012 for a five year term. The 4.1 hectare site, with a 2,000 square metre warehouse, is leased at $550,000 per annum net - or $13.40 per square metre of improved site area, according to Urbis.
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Dome Garden Supplies take short-term Laverton North lease after fire at Altona premises

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Ray White is set to host a combined commercial property auction in Broadbeach next month.
The August 15 event will see 12 properties up for sale from Ray White Commercial Southport, Ray White Industrial Gold Coast and Ray White Commercial Gold Coast.
Auctioneer Richard Impiombato said there is a diverse mix of properties on offer, from office complexes to development sites and retail assets.
“The listings come from as far south as Burleigh Heads to as far as north as Eagleby in Logan City,” said Impiombato, who expects a strong turnout for the auction.
“We have an impressive line-up of properties including a modern warehouse/showroom complex at 3/2 Breakwater Street, Merrimac, being<a href="https://www.commercialview.com.au/unit-3-2-6-breakwater-street-merrimac/commercial-both-details-6921967" target="_blank"> marketed by Kristoffer Sonter of Ray White Commercial</a> Southport,” he said (pictured above).
“Another standout listing is a standalone headquarter building at 34 Nerang St, Nerang, which has three levels of office space and basement parking for 30 vehicles." <a href="https://www.raywhite.com/qld/southport/1150543/" target="_blank">The office block</a>, marketed by Wayne Devenport of Ray White Commercial Southport, is pictured below.
<img src="/images/2014/07/30/comm2.jpg" alt="">
The auction is scheduled for 11am on Friday, August 15 at the Gold Coast Convention Centre, Broadbeach.
It's planned to be the first of a regular series of combined commercial property auctions, with others scheduled for October, November and December.
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Twelve commercial properties up for grabs at Gold Coast auction event

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A B-Grade Sydney CBD office has been leased to Petrofin International as they grow their Australian operations.
CBRE’s Jamie King leased the 495 square metre 14th level office on behalf of lessor AIHL Properties Australia.
It is located at 189 Kent Street, and Petrofin International has committed to a seven-year term for an initial rate of $485 gross per square metre.
The national property representative for the client, Corporate Relocations, handled the negotiation for Petrofin. Their brief was to have all the staff on one level, and being close to Barangaroo was seen as a benefit.
“Petrofin was attracted to the building's central position in the CBD, as well as the building's recent refurbishment, which included upgrades to the lobby and lifts,” King said.
“Flexibility with the incentive structure also contributed to the successful conclusion of negotiations.”
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Petrofin Inernational leases Sydney CBD office

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Private investors are making themselves heard in Victoria’s industrial market with their market share of purchases jumping from 8% to 26% in just eight years, according to Savills Australia.
In the 12 months to June 2006, private investors’ purchases totaled $78 million, or 8%, while in the 12 months to June 2014 purchases totaled $278 million (of sales over $2 million) to 26%.
A compression in primary and secondary yields, now sitting at 7.25% to 8% and 8.75% to 10% respectively, was also noted.
Behind the surge is strong yields, low interest rates, and growing market confidence, which are driving a rise in private investment in Victorian industrial property.
Savills directors Ben Hegert and Chris Jones pointed to their latest deal where a New South Wales investor paid $5.7 million for a 20,661 square metre office and warehouse complex in Melbourne’s Tottenham as an example.
“From ten years ago when they accounted for less than 10% of the market private investors have matured as an investor class in both their approach to and involvement in a market which had been perhaps wrongly perceived as too complex,” said Jones.
“But that has all changed with the realisation that industrial property possesses some of the strongest property fundamentals, and when compared to residential, can offer better yields and more secure lease profiles, among other things,’’ he said.
The growth in industrial interest has also been due to the shift in e-tailing and subsequent growth of warehousing requirements, as well as SMSF allowances.
Meanwhile, Hegerty said that the industrial market has been tightly held in recent years due to a belief that there are few other assets in which to park cash safely.
“What we are seeing now is the market reaching a point where vendors are happier with economic conditions and what that means for investment generally,’’ Hegerty said.
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