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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Long grass and leftover materials (including on vacant land)
Don’t leave your property unattended, and ensure your tenants know their responsibilities as well.
In many areas, particularly where bushfires may occur, long grass and strewn-about materials – even on your own land – can constitute a hazard.
In Victoria’s Manningham, for instance, a $2,000 fine can be incurred for allowing your property to “remain a fire hazard or unsightly”. If you don’t comply with the notice, they further inform you that they will clear the land and pass on the costs to you, in addition to the fines issued.
This is certainly not contained to Victoria, and warnings regularly make news.
Failing to empty water containers
If you fail to empty water containers in some areas, particularly in summer months, then you might face fines.
Cairns Regional Council, in February, issued warnings about fines up to $22,000 for those who have water build up. This is due to the substantial risk of encouraging the dengue mosquito to breed on your property. The Council noted that this is for situations where the ‘container’ isn’t necessarily aimed for – they point to the example of a tarp covering a caravan that was containing water, children’s sand pits, fallen palm fronds, wheelbarrows and old tyres.
The fine is usually $550 for individuals and up to $2,750 for corporations, but can span up to the higher amount if the matter is taken to court.
Overhanging plants
If any of your trees, plants, shrubs or other matter overhangs from your land onto council land, such as obstructing the footway, then you may face penalties.
Owning a dilapidated building
Fines for not keeping a building repaired, and leaving them to decay for years, can also be seen.
In Tasmania since December, for instance, new rules can see body corporate facing $50,000 fines and individual owners slugged $13,000 for not keeping their buildings up to scratch.
Leaving the bins on the kerb consistently
It’s all well and good to put your bin out a day or so early, but don’t leave it there or you may also face a fine.
In Brisbane, the council is pretty blatant about the aggravation this causes residents, noting “When bins are left out on some of Brisbane's narrower footpaths, they can force pedestrians onto the road.” Bins “continually left on the footpath or kerb” may be investigated and fines may be issued. Those who do not have a reasonable excuse for bringing their bin back in may face an “on the spot” fine.
It’s not clear whether the tenant or the property owner is slugged this fine, but it might be worth reminding your tenants of your council’s rules.
Not keeping up to date with swimming pool standards
Rules around pool fences and associated requirements change regularly and can differ from state to state. Property Observer knows of one property owner fined for not having a resuscitation poster on the wall in Sydney, while many others will face $220 in fines for not registering their pool on the New South Wales pool register.
In some areas, having tall pot plants or chairs around your pool fence – that a child could climb up using – could see you facing fines. In the Hills Shire Council in New South Wales, for instance, 900 millimetres is the suggested minimum distance for any objects around the fence. Specific heights, materials and other considerations are also required to avoid facing a fine for an unsafe swimming pool.
While ‘spa pools’ may not need to be surrounded by a fence, they do need a child-proof cover.
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jduke-EHk3XBmHkn

Six things you can be fined for as a property owner

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I had learnt a little about suburb lifecycles recently  - how a suburb can change over time.
Generally speaking new areas usually attract young couples and families, but also some mature aged people like grandparents wanting to be close to their grandkids and who can help support and care. So it's important that new areas do have a mix of housing available. 
I've recently been researching a new location after finding a good dual occupancy development site there. 
In the past, I have put this suburb aside as the land was expensive and generally lot sizes smaller, however a large enough site came up and as I ran the figures on it, my heart beat increased!
This suburb was experiencing fast growth due to new land estates opening  and there was a fair amount of land to be released in the location. Because of this, the government had allocated money for community services, facilities and infrastructure.
The suburb is also very well located being only 20 minute drive into Newcastle CBD.  In the new estates, it was predominately large four or five bedroom family homes being built and even though the land was expensive reflecting the facilities of the master planned estate, after some research I could see the opportunity for good demand for smaller dwellings.
The area was popular with families building new homes and wanting to be close to good quality schools - there is a well regarded primary and high school within walking distance. Parents could work in Newcastle and be home early for the family.
The estate offers a bushland location with beautiful views over wetlands, quality sporting fields, a community centre and a new shopping village had popped up within five minutes with a shiny new Coles open and Aldi store under construction.
The M1 freeway access to Sydney is just a few minutes drive away. This estate was well placed location wise and also for future growth.
For me, building three bedroom villas in a location that is dominated by four or five bedroom houses makes a lot of sense. There would be several markets for these villas on completion; young people who can't yet afford to build the larger homes, separated people looking for smaller dwellings, single parents and empty nesters looking to downsize. I think if the location and facilities are good, a lower entry point for rent and sale prices - can be a good differentiation for your development.
Also sales of the larger, more expensive dwellings could impact positively on the values of smaller dwellings if there are no direct comparable sales.  There could be good demand from renters wanting all the benefits of the estate for a smaller outlay.
<a href="https://www.propertybloom.com.au" target="_blank">www.propertybloom.com.au</a>
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jochivers-wq5Bp59R5a

A good mix of dwelling size is important

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The federal budget certainly sent shock waves through the economy, but according to the ANZ-Roy Morgan consumer confidence index it appears to be recovering.
Consumer confidence has improved a further 2.4% over the past week, bringing the total improvement in confidence to 6% over the past month.
Also helping investors feel comfortable is the fact ME Bank are still offering a three year fixed rate at 4.69%, which gives investors more confidence about the future.
Property investors have already begun to re-enter the property market, but these two events are only going to add to the momentum. They will begin to change their thinking from ‘if’ they should buy property to ‘what’ they should buy and will be torn between the logic of two radically different investment strategies.
One says it’s always best to buy property that’s positively geared. This means that holding costs like council rates, insurance, maintenance and interest on the loan are less than the rental income received.
The second argument says it’s better to buy property that’s negatively geared, meaning that holding costs are greater than the rental income received. You fund the shortfall from your own pocket, giving you a ‘negative income’ which you then claim as a tax deduction.
In reality, these arguments are doomed to go around in circles. There’s no one right or wrong answer that applies to every investor. Each purchasing strategy has its upside and downside; both of which should be considered before making a decision.
Let’s start by looking at positively geared property. Generally speaking, the high-buy in price of most properties in capital cities means that to buy a positively geared asset, you must purchase in a regional or rural area where prices are lower. This may leave you with a relatively modest mortgage, making it easier to enter the property market, and easier to fund the holding costs from rental income alone.
The downside, however, is that positively geared property may have a lower capital growth rate. Every property’s value is determined by the ratio of two components: the land and the building. Land appreciates, or grows in value; whilst buildings depreciate or fall in value.
In regional and rural areas, land values per square metre tend to be low because there’s plenty of land available compared with the level of buyer demand. This means the building accounts for most of the asset’s value. The building may lose value faster than the land can gain value—hampering long-term capital growth.
Let’s compare this with buying negatively geared property. When the buy-in price is high, the land value probably is. This is the upside of negative gearing; you’re more likely to have purchased in an area with a limited supply of land relative to buyer demand. The land component makes up a higher proportion of the property’s overall value, giving the asset strong capital growth potential.
On the downside, buying a negatively geared asset means that whilst your long-term risk may be lower, your short-term risk may be higher because you have to find a way to fund the difference between holding costs and rental income from your own pocket. This can create cash flow pressure, particularly if you incur an unexpected expense such as an interest rate rise or urgent repair.
In short, it’s a case of short-term gain and possible long-term pain (positively geared property) versus short-term pain for possible long-term gain (negatively geared property). To decide which is right for you, it’s important to assess your financial circumstances.
First, consider your level of disposable income. If you have spare cash to cover the difference between your holding costs and rental income, buying a negatively geared property may be appropriate. On the other hand, if your budget is tight, negative gearing may be too hard an ask, and a positively geared property may be a better way to go. The capital growth won’t be as strong, but at least you’ll be in the market.
Second, consider how long you’ll be earning a good income. To ride out market fluctuations and recoup purchasing costs, property should be viewed as a long-term investment; at least seven to 10 years. If you’re close to retirement and a substantial drop in income isn’t far away, adopting a negatively geared strategy may not be viable. In this case, you should consider investment options that don’t require you to contribute funds from your own pocket. By contrast, if you’re many years away from retirement, you may have enough income over the long-term to fund the shortfall from your wage or salary. 
Whichever gearing strategy you choose, go into it with your eyes open.
Mark Armstrong is a director of <a href="https://ratemyagent.com.au/" target="_blank">ratemyagent.com.au</a>, Australia’s number one real estate agent rating website.
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Positively or negatively geared property: Which strategy will work best for you?

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A Melbourne-based CBD building has been on the market for just 12 hours before being purchased for $5.4 million, or 4.29% yield, by a China-based family. This equates to $18,500 per square metre.
The property, at 355 to 357 Exhibition Street, is a three-level 880 square metre building. It includes ground floor retail and four upper level apartments. The site itself is 291 square metres and is diagonally opposite Carlton Gardens.
The property was sold fully-leased to six tenants, and includes a mix of retail and residential renters. Most are on short-term leases, and it equates to $232,000 per annum.
Savills Australia head of city sales and investments, Clinton Baxter, and Nick Peden, negotiated the sale, and said that a number of highly motivated investors were rushing to make offers.
“This is yet another example of the rush to buy Melbourne property at the moment, rush being the definitive term. The phone literally ran hot resulting in numerous potential purchasers making inspections within hours of hitting the market,” said Baxter.
“This reflects the strong demand for well located smaller freehold properties within the CBD, properties which are increasingly shrinking in number as major development takes over the central city area,” he said.
The building is placed for future highrise development and would have desirable views.
The vendor had held the building for 33 years and was a local private investor.
It appears that the tenants include Tourism Malaysia and a Thailicious.
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Just hours on the market and… sold, to an offshore family for $5.4 million

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The recently floated Arena REIT sold 10 Victorian and NSW childcare centres at Burgess Rawson auction today for a combined $14.2 million reflecting an average 6.9% net yield.
Given 16% projected growth in number of children 0-4 years from 2013-2025, yields were as low as 5.4% at <a href="https://melbourne.burgessrawson.com.au/buying/VIC/East/Templestowe/Retail/3P0820" target="_blank" style="line-height: 1.3em;">Templestowe in Melbourne</a> (pictured above) with a $1.73 million sale. The lease was 15 years to Imagine Applied Education Services Inc with two further terms of five years, each with a five year notice period. There are annual CPI reviews with a 2.5% minimum increase, with the next market review date in 2019, when the rent cannot be reduced as a result of market review and is uncapped.
The tenant is responsible for rates, insurance and repairs and maintenance (including structural), management fees and land tax (where applicable). 
The income was $93,102 per annum.
A 9.2% Tamworth childcare centre on a short term lease sold for $620,000.
Six sales came with leases to Australia’s biggest childcare operator, Goodstart. Goodstart is owned by the charitable organisations The Benevolent Society, Mission Australia, the Brotherhood of St Laurence and Social Ventures Australia.
Arena reported earlier this year that it controlled a $325 million portfolio of childcare and healthcare properties with 177 childcare properties.
Morgan Stanley analysts recently advised there were strong fundamentals in the childcare and healthcare sectors, the Australian Financial Review noted.
The listed property trust sector (A-REITs) gained a new participant with Arena floating with a share price of $1.05 in June 2013, representing a premium to its then net tangible assets of $1 per share.
The joint managing directors of the Melbourne-based fund are James Goodwin and Bryce Mitchelson. It was established as an unlisted trust in 2003 investing into childcare centres. 
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Average 6.9% yields as Arena REIT childcare centres sell

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BIS Shrapnel notes that there will be little change over 2014 for Sydney’s CBD office vacancy, having anticipated that the recovery in net absorption of office space will be slow.
The modest recovery will be underpinned by three factors:
<ol>
<li>Stronger business confidence 
</li>
<li>Robust share market performance 
</li>
<li>Economic growth picking up at state/national level</li>
</ol>
These reasons may make it more likely that companies will lease more office space, but even so it is unlikely to affect the vacancy rate, according to BIS Shrapnel’s Sydney Commercial Property Prospects 2014 to 2024.
By the end of this year, we’re expecting vacancies to have fallen by 0.3%.
Lee Walker, senior project manager and report author, said that the pick up in net absorption would provide a welcome relief for office landlords.
“[Some] market participants expect office stock withdrawals for residential conversion will see the CBD market tighten rapidly as developers look to take advantage of a strengthening residential market. However, the importance of withdrawals for residential conversion in the near term should not be over-stated,” said Walker.
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" alt="">
Not all planned conversions will occur immediately, with existing tenant leases slowing down the process.
This has BIS Shrapnel expecting that over the next three years, 110,000 square metres of office space will be permanently withdrawn from the CBD. Just 20,000 of this is expected over 2014.
“Unfortunately, anyone hoping for a quick turn around in the Sydney CBD office market is likely to be disappointed” concluded Walker.
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The three factors behind Sydney's office market recovery

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Leighton Holdings Limited has sought expression of interests in their 50.6% investment in Devine. 
The process is preliminary and there are no assurances that a sale of the Leighton investment in Devine will be finalised, the ASX has been notified today.
Leighton Holdings is also seeking a quick sale of its $1 billion-plus John Holland and Services businesses.
The company’s stake in listed firm Macmahon Holdings scheduled for likely sale.
John Holland’s aircraft maintenance business is already for sale.
Leighton also owns 45% of the Middle Eastern construction company, Al Habtoor which is being readied for a possible IPO in 2016.
It's all part of Spain’s ACS restructure of the iconic Australian construction company.
Devine shareholders will <a href="/expert-insights/investing/dismal-devine-limited-attacked-by-shareholder-for-missing-the-housing-boom">await the sale process with interest</a>.
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Leighton looks for Devine stake buyer

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Earlier today Scentre Group, Westfield‘s new Australian and New Zealand shopping mall company, started trading on the ASX, with a $3.21 million debut price Wednesday June 25.
Shares were later trading at $3.11 under the ticker SCG.
Opening at $6.70, Westfield Corporation, which will be the international iconic malls company of the Lowy family, was later trading at around $6.78 under the ticker WFD.
The two new groups are trading on a deferred settlement basis set to commence normal trading on Thursday week.
Scentre Group closed at $3.08 on Wednesday. Westfield Corporation closed trading at $7.05.
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Westfield and Scentre Group start trading anew

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A Toorak Village retail property boasting a double height shopfront façade has sold for $1.848 million.
Fitzroys agents Michael Ryan and Charles Emmett undertook auction campaign and noted a significant amount of local and offshore interest.
“The well-attended auction saw two bidders competing, with the property ultimately sold to an offshore investor,” said Ryan.
The 462 Toorak Road property including 123 square metres of building area and is northfacing. It is zoned Commercial 1 and was offered subject to a seven year lease with a further seven year term to Higgovale Fashion Distribution, and Christensen Copenhagen.
It returns $103,415.50 per annum plus GST.
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Toorak Road's $1.848 million retail sale to offshore investor

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A freestanding office building at Braeside, in Melbourne’s south-east, has been purchased by an accounting firm for $1.165 million.
It is a 509 square metre, two-level building with glass paneled façade. At 232 Boundary Road it also includes 21 on-site carparks on a 1,113 square metre site, and is fully-fitted office accommodation.
The firm is expected to occupy the top floor.
The property was sold subject to the ground floor lease returning $45,000 per annum net.
The property was bought at an auction held by Savills Australia Notting Hill.
Selling agents Daniel Kelly and Cameron Stuckey said that it would benefit from infrastructure and amenity redevelopment nearby Moorabbin Airport.
“This was an ideal purchase for a firm which was looking for an attractive, well-located, building which could also offer both capital growth and ongoing rental returns,” Kelly said.
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