High-profile apartment defect cases have changed the way many NSW buyers approach purchasing, putting greater scrutiny on building quality, strata records and the parties behind a development before a contract is signed.

The industry buyers are assessing today, however, is also different from the one in which cases such as Opal Tower and Mascot Towers emerged.

NSW has introduced a series of regulatory measures aimed at strengthening oversight of apartment construction, including Building Commission NSW, the Residential Apartment Buildings Act 2020 and the Strata Building Bond and Inspections Scheme. Under the latter, developers are required to lodge a bond, with independent inspections forming part of the process for identifying defects in new strata developments.

Those changes provide another layer of protection, but they haven't removed the importance of buyer due diligence.

[smartcode_project:default project_id=5743 project_image_fid=372394]

For purchasers considering an apartment, that means looking beyond the residence itself. Building and strata history, strata reports, the track record of the builder and developer, the condition of common property and any known or planned expenditure by the owners corporation can all form part of assessing a building before purchase.

Whether the development is already complete can also materially change what can be assessed.

An off-the-plan purchaser is necessarily buying before the finished product exists. A completed apartment, by comparison, can be walked through before contracts are signed, allowing the purchaser to see the finishes, common areas and broader building as they have actually been delivered rather than relying solely on plans and renders.

It also removes exposure to some of the uncertainties that exist between an off-the-plan purchase and completion, including construction delays, cost pressures and builder insolvency during the delivery period.

[smartcode_project:default project_id=5743 project_image_fid=927]

<a href="https://www.apartments.com.au/project-marketer/equitifund-group">Projects by Equitifund</a> National Sales Director Ben Hamblett said that greater focus on tangible evidence is increasingly evident among apartment purchasers.

“The biggest shift we're seeing is buyers wanting proof, not promises,” Hamblett said.

“That's exactly why we deal in completed stock - you can inspect the building before you commit - and why we've backed every purchase with a cash bond against special levies.”

At <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> in Parramatta, that emphasis on a completed, inspectable product is already in place.

The 413-apartment, 46-level tower at 12 Phillip Street is being marketed by Projects by Equitifund, allowing prospective purchasers to inspect the residences, common areas and resident facilities before committing.

[smartcode_project:default project_id=5743 project_image_fid=375255]

The Lennox also introduces another layer to the due-diligence conversation through Strata Surety.

The vendor-funded arrangement provides purchasers with a cash-backed bond held in their own solicitor's trust account from settlement. According to Equitifund, the bond covers any special levy raised during the applicable cover period and is provided at no cost to the purchaser.

Special levies can create an unexpected cost for apartment owners where an owners corporation needs funding beyond its existing strata contributions. Under NSW strata law, a special levy requires approval by owners at a general meeting.

Equitifund Executive Chairman Greg Huxley said Strata Surety was designed to provide something more concrete than reassurance about that potential exposure.

“Buyers have every right to ask hard questions about strata risk - the industry has given them plenty of reasons to,” Huxley said.

“Our answer isn't a reassurance, it's a bond. Strata Surety puts real money behind that confidence, held by the buyer's own solicitor, not by us.”

[smartcode_project:default project_id=5743 project_image_fid=375281]

For The Lennox, its completed status also means purchasers can assess not only the apartment itself, but a building that has already been occupied and operating for several years.

Completed in 2021, the $300 million development, designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, comprises one, two, three and four-bedroom apartments, with open-plan living areas extending to private balconies. Interiors incorporate engineered timber flooring, stone benchtops and integrated appliances, while many upper-level residences have views across the river and surrounding district.

Its established amenity can similarly be inspected in operation. Resident facilities include the Watermark precinct with a 20-metre pool, outdoor terrace, barbecue areas, gym, fitness studio and conference room, while ground-floor retail addresses the river walk and surrounding public space.

The Lennox is also home to the Southern Hemisphere's first fully robotic residential car park, which has now operated for several years. Its nine-level basement combines three conventional parking levels with six automated levels, accommodating 327 vehicles using technology from German firm Lödige Industries.

[smartcode_project:default project_id=5743 project_image_fid=925]

The riverfront address puts The Lennox close to much of central <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a>'s existing infrastructure, including Parramatta Station, Westfield Parramatta, Parramatta Park, and the Church Street dining precinct.

The remaining apartments form part of a limited release secured by Equitifund, following the sale of the majority of residences before and shortly after completion.

The regulatory environment around NSW apartment construction has changed considerably since the defect cases that reshaped public discussion around the sector. For purchasers, however, regulation is only one part of the equation. The ability to investigate a building's history, review its strata position and, where possible, inspect what has actually been delivered remains central to making an informed apartment purchase.

At The Lennox, its completed status provides that opportunity before contracts are signed, while Strata Surety adds a financial backstop against special levies beyond the protections already provided under NSW strata law.

[smartcode_project_cta:default project_id=5743]

Joel Robinson

Buying with confidence: What NSW apartment buyers should check beyond the defect headlines

Too often, heritage buildings become the podium for a contemporary tower. At <a href="https://www.apartments.com.au/new-apartments/623-collins-607-623-collins-street-melbourne-vic-3000">623 Collins</a>, <a>Sterling Global</a> challenged its design team to reverse that process.

The brief to <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> was deliberately simple: "Don't design around the heritage. Design from it." It became the philosophy behind a project that draws inspiration not only from two landmark heritage buildings, but from Collins Street itself, a street layered with architectural history and civic significance.

That philosophy has shaped one of <a href="https://www.apartments.com.au/developments/melbourne-vic-3000">Melbourne</a> CBD's most considered residential projects, where the 1924 State Savings Bank and neighbouring Batman's Hill Hotel have become the architectural foundation for 623 Collins rather than remnants preserved beneath a new development.

[smartcode_project:default project_id=145324 project_image_fid=372749]

Rather than approaching the site as a blank canvas, <a href="https://www.apartments.com.au/developers/sterling-global">Sterling Global</a> saw the existing buildings as the beginning of the story.

"Sites like this rarely become available," the developer said.

"623 Collins wasn't simply an opportunity to develop a prominent CBD site. It was an opportunity to restore and reimagine one of Melbourne's important heritage landmarks while contributing to the continued evolution of Collins Street. For us, the existing buildings weren't constraints. They were the beginning of the story."

Instead of mimicking the ornate heritage architecture, Plus Studio studied the proportions, rhythm and craftsmanship of the original buildings before translating those characteristics into a contemporary 42-storey tower.

[smartcode_project:default project_id=145324 project_image_fid=372748]

"The brief challenged us to create a contemporary landmark that respected Melbourne's architectural history without becoming nostalgic," Plus Studio said.

"Rather than mimicking heritage, we sought to understand its proportions, rhythm and material language before translating those qualities into a distinctly contemporary architectural expression."

The practice says the State Savings Bank and Batman's Hill Hotel became the project's primary source of inspiration, allowing the heritage buildings and contemporary architecture to exist "in conversation rather than contrast." Generous planted terraces further soften the transition between old and new, creating elevated green spaces while reinforcing the dialogue between the restored podium and the contemporary tower.

That dialogue continues throughout the interiors, where Melbourne designer Fiona Lynch developed a material palette inspired by the idea of alchemy, balancing contrasting materials that reference both the Neo-Grec detailing of the original bank and contemporary urban living. The result is a series of spaces that feel timeless rather than trend-driven.

[smartcode_project:default project_id=145324 project_image_fid=354343]

The project will deliver 316 residences across four collections, Heirloom, Signature, Reserve and the Penthouse Collection, with each responding differently to its position within the building, from the restored heritage podium through to the upper levels of the tower. The Heirloom Residences retain defining heritage elements including original heritage windows, generous proportions and high ceilings, while the tower introduces contemporary homes with expansive layouts and elevated views.

Amenities have likewise been designed to support long-term city living rather than short-stay convenience. Residents will have access to concierge services, wellness facilities including a pool, cold plunge, sauna, steam room and gym, alongside private lounges, entertaining spaces and dedicated resident clubs.

Sterling Global says that approach is resonating with buyers seeking permanence rather than novelty.

[smartcode_project:default project_id=145324 project_image_fid=354347]

According to the sales team, purchasers are looking for enduring architecture, generous floorplans, heritage character and long-term value, with many commenting that 623 Collins "doesn't feel like another apartment development" because of the way the architecture has been curated around the site's history.

Situated on the prominent corner of Collins and Spencer streets, the project occupies one of Melbourne's most recognisable gateway sites, marking the western entrance to the city's best-known street. For Sterling Global, it also reflects a broader shift in city-making.

"Rather than maximising development yield, the project embraces adaptive reuse as a design philosophy, allowing heritage to inform architecture, interiors and the overall resident experience," the developer said.

"The result is a building that feels uniquely connected to Melbourne."

[smartcode_project_cta:default project_id=145324]

How Sterling Global designed 623 Collins from Melbourne's history

Avant Townhomes is adding to Ivanhoe’s family-sized housing options with <a href="https://www.apartments.com.au/new-townhouses/three-82-ivanhoe-382-upper-heidelberg-road-ivanhoe-vic-3079">Three 82</a>, a collection of just 16 four-bedroom townhomes on Upper Heidelberg Road.

The <a href="https://www.apartments.com.au/developers/intrapac-property">Intrapac Property</a> townhome division has taken a contemporary approach to the traditional family home, pairing larger floorplans with the lower-maintenance format of a townhouse.

[smartcode_project:default project_id=152069 project_image_fid=374394]

Designed by <a href="https://www.apartments.com.au/architects/arcadia-studio">Arcadia</a>, with landscaping by Landsite, the homes feature generous open-plan living and dining areas that connect directly to outdoor spaces, with layouts also designed to maximise natural light and privacy.

Natural stone is used throughout the interiors, including in kitchens that pair stone surfaces with bespoke cabinetry, considered storage and SMEG appliances.

The four-bedroom layouts include built-in wardrobes and a main bedroom with its own ensuite, while family bathrooms service the additional bedrooms. Each home also includes a lock-up double garage and intercom entry.

[smartcode_project:default project_id=152069 project_image_fid=374399]

Energy efficiency has been incorporated into the design through solar panels, double glazing and reverse-cycle heating and cooling, with the homes targeting 7-star energy ratings.

Rather than incorporating extensive communal facilities, Three 82 has been conceived around private residential amenity, with the 16-home scale keeping the focus on individual homes and their own indoor and outdoor spaces.

The development is located at 382 Upper Heidelberg Road, around one kilometre from Ivanhoe Village's cafés and retail and a short drive from Eaglemont Station and Ivanhoe Station.

[smartcode_project:default project_id=152069 project_image_fid=374393]

Several of Ivanhoe's established schools are also nearby, including Ivanhoe Girls' Grammar and Ivanhoe Grammar School. The address also provides access to the suburb's parklands and the wider Yarra River corridor.

<a href="https://www.apartments.com.au/project-marketer/nelson-alexander">Nelson Alexander</a> has been appointed to handle sales.

Construction is underway and progressing well, with Three 82 currently tracking toward completion in Q2 2027.

[smartcode_project_cta:default project_id=152069]

Three 82 brings boutique four-bedroom townhome collection to Ivanhoe

Builder-developer&nbsp;<a href="https://www.apartments.com.au/developers/graya">Graya</a> has secured a prime Newstead site from fellow developer Fraser, subsequently lodging plans for The Silo, a major mixed-use residential project in Newstead designed around a new public laneway linking the James Street precinct with the wider Gasworks and Newstead neighbourhood.

Proposed for the corner of Chester and Morse streets, the <a href="https://www.apartments.com.au/architects/bureauproberts">Bureau^Proberts</a>-designed project places its strongest emphasis at ground level, where retail, landscaping and a new cobblestone pedestrian connection would open the site to the surrounding neighbourhood. The design team describes The Silo as “more than a residential building”, positioning the development as an extension of Newstead’s public realm rather than a standalone apartment tower.

“A new cobblestone laneway and landscaped connection between James Street and Gasworks unlock a missing pedestrian link, improving walkability and stitching together two of Brisbane’s significant urban destinations,” Bureau Proberts said in its Urban Design Report.

<img alt="First look: Graya plans The Silo as new pedestrian link between James Street and Gasworks" data-entity-type="file" data-entity-uuid="0ea1b06a-75f5-40a5-b2c5-33c97bc86052" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/silo%20bldg.png?VersionId=KmjsAtNePu57_B31EM_DJ5T6KPJHtcmo" />

The Silo is planned as a mixed-use development incorporating apartments alongside a bar and centre activities including food and drink outlets, indoor sport and recreation, office and retail uses.

Architecturally, Bureau Proberts has conceived the building as a collection of vertically expressed, stepping forms rather than a single uniform tower. The composition rises from an articulated podium before being broken by a triple-height landscaped recreation level, with the upper section becoming more compact before terminating in a landscaped rooftop garden.

The project's name and architectural language draw directly from Newstead's industrial history. Patterned off-form concrete is proposed as the principal façade material, complemented by slender metal rod balustrades and extensive planting. The cylindrical and vertically ribbed elements give the building its silo-like expression, while curved balconies and planted edges introduce a softer subtropical layer.

“The Silo reinterprets its robust forms, scale and materiality through a contemporary subtropical architectural expression, creating a building that acknowledges its industrial legacy, while responding to the way the precinct is occupied today,” Bureau^Proberts said.

The recreation level is one of the defining breaks in the tower. Plans include a lap pool, mature subtropical planting and shared resident facilities within an elevated communal garden. Landscaping continues through the podium and onto the rooftop, where a further garden forms what the architects describe as a “subtropical crown” to the building.

<img alt="First look: Graya plans The Silo as new pedestrian link between James Street and Gasworks" data-entity-type="file" data-entity-uuid="f8451036-35a4-49a9-8d88-2ef4438eba3d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Silo%20Lane.png?VersionId=h8N31_rYmCEqoNrpt4kbYVQhJGZn60LH" />

At street level, the development has been designed to establish a more permeable block. Retail and hospitality tenancies address the public realm, while landscaped pedestrian spaces lead into the new laneway connection. Renders in the design report show the proposed “Silo Lane” as a substantial opening through the podium, framed by cylindrical concrete forms with cascading planting above.

The Silo continues Graya's move into larger apartment developments after building its reputation across high-end residential projects in Brisbane and the Gold Coast.

Graya buys Frasers Newstead site, plans The Silo between James Street and Gasworks precincts

<a href="https://www.apartments.com.au/developers/wickton">Wickton</a>’s completed Linacre Rise development in Hampton is giving Bayside downsizers the opportunity to move into a spacious apartment near the beach, with the developer covering stamp duty for a limited time.

The 27-residence development has been designed for buyers who want to simplify their living arrangements without giving up the space, warmth and quality associated with a long-term family home. Most apartments have already been secured by Bayside locals, leaving a select collection of two and three-bedroom residences and penthouses available.

Two-bedroom apartments are priced from $1.275 million, three-bedroom residences from $2.25 million and penthouses from $3.375 million, with the completed homes available to inspect and move into now.

[smartcode_project:default project_id=95289 project_image_fid=366760]

<a href="https://www.apartments.com.au/buildings/linacre-rise-hampton-8-10-linacre-road-hampton-vic-3188">Linacre Rise</a> occupies an elevated position on one of <a href="https://www.apartments.com.au/developments/hampton-vic-3188">Hampton</a>’s quiet, tree-lined streets, around 250 metres from the bay and 500 metres from Hampton’s village centre. Its setting gives residents access to the beach, local cafés, shops and Hampton Train Station while retaining the feel of an established residential neighbourhood.

Architecture and interiors by <a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a> draw on the warmth and permanence of traditional brickwork, with the building integrated into terraced landscaping by <a href="https://www.apartments.com.au/landscape-architect/john-patrick-landscape-architects">John Patrick</a>. Ground-floor apartments are elevated above the street and include private garden courtyards, while several upper-level residences have generous balconies and outlooks toward the bay.

Inside, the residences favour natural materials and generous proportions. Herringbone-pattern European oak flooring, natural stone benchtops, premium joinery and Swiss V-ZUG appliances are among the key inclusions, while integrated storage has been incorporated across kitchens, bathrooms, studies and living areas.

The kitchens have been planned as practical spaces for both everyday use and entertaining, with substantial island benches, detailed cabinetry and adjoining dining and living zones. Full-height wardrobes, plush bedroom carpeting and carefully considered lighting reinforce the residential character Wickton sought to retain for buyers moving from larger homes.

[smartcode_project:default project_id=95289 project_image_fid=366769]

A Linacre Rise purchaser said the completed apartment had delivered the space, outlook and construction quality they had been seeking.

“The unit is very light, has views to die for over the bay, all construction materials and fittings are premium quality, we have secure parking for three cars, EV charging at very competitive rates, the neighbours are friendly and there is just a lovely ambiance about the place,” the purchaser said.

Environmental features include solar panels, shared electric vehicle charging stations, rainwater harvesting for toilet flushing and landscape irrigation, double-glazed windows and water-efficient fixtures and appliances.

[smartcode_project:default project_id=95289 project_image_fid=366762]

The development was built by Balmain &amp; Co, with Wickton managing the broader development process through its in-house team.

For downsizers, the project’s completed status removes much of the uncertainty associated with buying off the plan. Purchasers can inspect the finished apartments, understand their outlook and proportions, and move in without waiting for construction to conclude.

The remaining selection includes north-oriented balconies, corner configurations and penthouses with elevated bay views. The developer-paid stamp duty initiative is available for a limited time, with potential savings of up to $200,000 depending on the residence purchased.

[smartcode_project_cta:default project_id=95289]

Limited-time stamp duty offer at completed Linacre Rise apartments in Hampton

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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Frasers Centrepoint has secured Australian Foreign Investment Review Board approval for its $2.6 billion bid for Australand.
<h2>FCL advised last night it has received a "statement of no objections" from the FIRB in relation to its proposed acquisition.</h2>
The Singapore-listed property giant recently trumped a competing offer from Stockland Corp for Australand.
FCL, whose main shareholder is Thai billionaire Charoen Sirivadhanabhakdi, is one of the Singapore's biggest property companies.
Australand, which was once majority owned by CapitaLand, has residential, commercial and industrial property projects.
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jchancellor-FAypfDUnLy

Frasers Centrepoint gets foreign investment review board approval for Australand bid

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Mirvac, Cedar Woods and WA-based Satterley Property Group have been pinpointed as short-listed prospects to develop the Kingswood Golf Course site in Dingley Village in Melbourne’s south-east.
The 53.4-hectare site <a href="/expert-insights/investing/mirvac-keen-to-buy-dingleys-kingswood-golf-course">has a capacity for about 700 dwellings</a>.
The Australian Financial Review puts its likely sale price as close to $100 million.
The sale is being handled by Ernst &amp; Young.
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Kingswood Golf Course sale edges closer to the pin

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The media tycoon and occasional property developer Kerry Stokes has secured approval to develop one of Australia’s largest industrial estates, some 240 hectares near Newcastle.
Approval has been granted to Stokes's private company, Australian Capital Equity to proceed with its expansion of Northbank by the NSW Department of Planning &amp; Environment.
It is the former Austeel site.
The Northbank Enterprise Hub site was purchased from the NSW government in 2010.
The long-term project first stage of development at Northbank started with the $160 million WesTrac NSW and ACT operational headquarters.
WesTrac, one of the biggest dealers of Caterpillar machinery in the world and part of Seven Group Holdings, is chaired by Kerry Stokes.
The Tomago property will be marketed through Colliers International targeting logistics, distribution companies, warehousing and manufacturing companies. 
It is expected the lots will range from 5,000 square metres to 50 hectares.
He faces competition as the local paper reports the Hunter Corporate Park, a 300 hectare site in the buffer zone of the Tomago Aluminium Smelter on the other side of Tomago Road, is also in the early planning stages.
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Kerry Stokes's Northbank Enterprise Hub at Newcastle gets expansionary approval

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Melbourne’s vegan bakery offering, Mister Nice Guy, is closing down their Prahran stall this month – though it may only be a temporary decision.
Noting that their Ascot Vale store is “bursting at the seams” forcing them to close up at Prahran, it also says business will continue at Ascot Vale as they expand the store.
They opened up shop in November 2012, giving out 1,000 free cupcakes at launch. Prior to this time, the store was florist Tony’s Flowers On Ascot.
The Prahran outlet, previously Stall 98B, will be closed from 19 July.
Wholesale and deliveries are also still available from the Ascot Vale store at 151 Union Rd, Ascot Vale.
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jduke-EHk3XBmHkn

Mister Nice Guy Prahran stall closes, but Ascot Vale to expand

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A 4,047 square metre Queensland industrial property has been purchased for $1.3 million plus GST.
The site, at 67 Radley Street, Virginia, was purchased by Corbsmoothy Investments Pty Ltd from S &amp; B Carew Pty Ltd.
It is a vacant industrial land site, with general industry zoning, of regular shape and providing 40 metres of frontage to Radley Street.
JLL’s Brendan Delahunty and Chris Davis negotiated the sale.
“The property presents one of the last remaining land parcels within the tightly-held Northern Industrial precinct of Virginia,” according to Delahunty and Davis.
“It has been purchased by a local owner and developer with the intention to speculatively build a circa 2,200 square metre industrial facility.”
It was noted that there is a very limited supply of prime grade buildings in the 1,000 to 3,000 square metre size range on the north side of Brisbane, so strong interest was received for the listing.
Back in 2012, the property was sold for $1.15 million plus GST to an owner occupier with apparent plans to develop a cold storage facility for dairy products.
Raine &amp; Horne Commercial, who organized the previous sale, noted that it had been occupied by Arrow Caravans since 2002, when they expanded from 38 Radley Street, which had been their premises since 1988. In 2012 they sold due to a Sandgate Road relocation opportunity.
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Queensland industrial site snapped up for $1.3 million

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Two new Woolworths supermarkets will be built at Meriton developments, one in Sydney and one on the Gold Coast, under a newly signed deal.
The Mascot Central Woolworths will be 3,200 square metres and will service 1,200 residential and serviced apartments alongside Woolworths. There will also be 16 supporting shops.
The Southport, Queensland development will include a 1,200 square metre supermarket at 55-storey Sundale, providing for 551 residential and serviced apartments. There will be 12 supporting shops.
They are both expecting completion in 2016.
Meriton national leasing and asset manager Omri Zelunzuk said that they’re looking forward to welcoming the iconic Australian brand.
“Woolworths will be an integral part of our retail offering in both locations, creating a neighbourhood shopping centre that will act as a meeting hub for our residential community. We’re looking forward to seeing Australia’s largest supermarket chain open at Mascot and Southport,” he said.
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Meriton and Woolworths sign deal for stores at Sydney and Gold Coast developments

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A vacant development site in Caloundra’s CBD is going to auction this month, through Ray White Commercial Caloundra’s Alan Gray and Len Greedy.
The 22 Omuz Avenue site was formerly the Tesch brothers’ timber and hardware business.
Greedy said that it is a slice of Caloundra’s history, and the owner is selling due to changed circumstances of Pipi Holdings Pty Ltd.
“For around 50 years the Tesch family enterprise supplied timber and associated hardwares from their Ormuz Avenue and Bulcock Street lands for a majority of homes being built in the Caloundra area,” he said.
“The Tesch enterprise through its outlets in Ormuz Avenue and Bulcock Street made an enormous contribution in a practical sense to the establishment of Caloundra, Golden Beach and the environs of Caloundra.”
The buildings that were previously on the site were damaged by vandals in the 1980s and subsequently levelled.
The 2,588 square metre site is one of the last remaining vacant blocks in the area, said Gray.
“The land is being offered in one line or alternatively in two portions of approximately 1,340 sqm and 1,248 sqm,” he said.
It has 72 metres of frontage of Omuz Avenue and is zoned to Caloundra Regional Business Centre with general zoning commercial.
“This is an opportunity to enter a thriving commercial area in one of Australia’s fastest growing cities,” he said.
The auction takes place at 11am on 19 July at the Caloundra Events Centre.
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Piece of Caloundra history for sale as development site

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Glenn Coleman, the former Cronulla rugby league player and Sharks club chairman, is selling a development site with approval for a residential apartment building.
The Canterbury development site at 2 Broughton Street is adjacent to the Canterbury railway station, and will be going to auction through Ray White.
Ray White Commercial NSW managing director Jeff Moxham, and project directors Marcello Bo and Peter Apostolou, are marketing the site.
The 1,405 square metre site has development approval for 42 residential apartments over seven levels, said Moxham. It would include 35 two-bedroom apartments, seven one-bedroom apartments and a ground floor retail area of 115 square metres.
“The unit sizes are also generous with the two bedrooms up to 78.5 square metres and the one bedroom units over 50 square metres,” said Moxham.
“We have already had strong interest in this property which is coming onto the market at an ideal time,” he said.
He expects strong interest both on and offshore.
The auction will take place on 12 August at 10.30am at Auctionworks.
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Former NRL star Glenn Coleman's Canterbury, Sydney development site to go under the hammer

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The sixth-generation wool grower Charlie ­Coventry has teamed with Ermenegildo Zegna in a wool production enterprise in NSW’s New England region.
The Italian luxury fashion label has bought into Achill, a 175-year-old sheep farm taking a 60% stake.
Achill is 2,564 ­hectares with 12,500 sheep in production of super fine wool.
Coventry was reportedly opposed to an outright sale to the Zegna Group as he loved his farm which was "in his blood."
He and Mr Zegna are setting up the venture with a wool buyer, Don Belgre, joining the company as the third ­member of the board.
“This joint venture is a clever move and one step towards invigorating the marketing of wool,” chairman of ­Australian Wool Innovation, Walter Merriman said.
Mr Zegna said Ermenegildo Zegna is not planning any further expansion into wool production, the AAP report noted.
Coventry says his 70-year-old father Tyrll can hang up his work boots, while his wife Dorianne, reckons she'll soon get a trip to Italy.
There was a Charles George Achill Coventry in the family history.
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Ermenegildo Zegna gets into NSW wool production for the first time

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The Uniting Church has nominated Leighton Properties as the preferred developer for the restoration of their Wesley Upper Lonsdale Street property, noting their ideal to keep the site reflecting God’s concern for the environment.
Now in documentation and approval stage, the final plans are expected for September this year for the property, which sits in the most tightly held precinct of Melbourne’s CBD.
The plan for the site is to revitalise but retain its history and cultural significance, said Leighton Properties national head of commercial Andrew Borger.
The development is to include an A-Grade commercial office tower, a Town Square and courtyard/garden spaces.
Currently, the Wesley Church is located centrally on the site. It will be retained and restored, in addition to the Parsonage/Manse, School House and Caretaker’s Cottage.
“Leighton Properties' capabilities and experience in providing innovative solutions for large-scale projects positions us well to deliver on what will become a quality, landmark development for The Uniting Church,” said Borger.
“This development offers the opportunity to positively address the underlying demand for space in Melbourne's CBD. We are looking forward to working in partnership with all key stakeholders to create a green, active, connected and welcoming urban environment that retains the best aspects of a calm sanctuary in the urban realm,” he said.
Meanwhile, Wesley Church minister Alistair Macrae, who was also a member of the Project Control Group, said that the Church’s mission was at the centre of Leighton Properties’ proposal.
“We want to ensure that the developed spaces enable relationships between people, that its uses are consistent with the values of the Uniting Church and reflect God's concern for the environment,” said Macrae.
“The transformation of this historic site as an important social, commercial and missional space places the church at its centre, opening up opportunities for the Wesley congregation to be in mission with the changing demographic of the inner-city,” he said.
Wesley Mission Victoria chief executive officer Rob Evers said Wesley was committed to the project and would return to Lonsdale St when the development is completed.
Head of property for The Uniting Church in Australia, Paul Walec, said that the transaction structure with Leighton Properties looks to balance their mission with risk and commercial outcomes.
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