<a href="https://www.apartments.com.au/developers/sunland-group">Sunland Group</a> has officially lodged plans for its first Gold Coast apartment project since the departure of the Abedian family from the company three years ago, unveiling a new high-rise proposal for a prominent Broadbeach corner site on Old Burleigh Road.

The application was submitted by an entity directed by Tom Jamieson, stepson of longtime Sunland leader Soheil Abedian, and Riaz Rezvanipour, brother-in-law of Sahba Abedian, Soheil’s son.

Sunland acquired the 1,283 sqm site on the corner of Old Burleigh Road and Armrick Avenue for $9.5 million late last year and is now seeking approval for a <a href="https://www.apartments.com.au/new-apartments/99-101-old-burleigh-road-broadbeach-qld-4218">42-storey tower with 81 apartments</a>.

<img alt="First look: Sunland Group returns to Broadbeach with new Old Burleigh Road tower plans" data-entity-type="file" data-entity-uuid="fea2946d-90ee-4cfc-babe-2a8ad5db2cb6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers.png?VersionId=BV0fihJw31nDIQ8ozY_h3GbS8mxDyhnm" />

Designed by <a href="https://www.apartments.com.au/architects/contreras-earl-architecture">Contreras Earl Architecture</a>, the proposed tower at 99-101 Old Burleigh Road would deliver a predominantly larger-format apartment mix aimed at the owner-occupier market. Plans include 17 two-bedroom apartments, 55 three-bedroom apartments, and nine four-bedroom residences across 35 residential levels.

The development also incorporates three basement levels, four podium parking levels, two levels of communal recreation facilities, and rooftop plant and equipment. A total of 189 car spaces are proposed, significantly exceeding the 90 spaces required under the planning scheme.

The architecture adopts a sculpted, curvilinear form, with deep wraparound balconies and integrated landscaping intended to soften the tower’s vertical expression. The planning report states the building’s “slender footprint/form provides a complimentary yet varied built form within the local streetscape” and contributes to “a varied, yet ordered skyline.”

Contreras Earl noted in its Architectural Statement that from the early stages, the project addressed a fundamental challenge: how to accommodate the required residential yield while avoiding the conventional model of a tower sitting on a rigid, fully resolved parking podium.

“The most direct response would have been to consolidate parking into a singular, flat podium and extrude a repetitive tower above,” the statement said. “While efficient, this approach would result in a consolidated built form with limited engagement with the surrounding landscape and public realm.”

Instead, the conventional podium model was “deliberately rejected”. The architects described the base of the building as “a landscaped architectural condition where structure, planting and circulation are integrated”.

“Rather than presenting a continuous built mass, the base of the building is articulated through a series of concrete planter elements that organise the podium into a fragmented system,” the statement said. “This approach reduces the perceived bulk of the lower levels while establishing a more permeable interface with the streetscape and adjacent open space.”

<img alt="Sunland" data-entity-type="file" data-entity-uuid="923fad8d-c960-4527-8fbe-975cf1ddf88d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-25%20at%2010.32.03%E2%80%AFAM.png?VersionId=pngwb0hYOIUpq9vDw6F2EsOiVuHF3DiX" />

&nbsp;

The site sits within the High Density Residential Zone and inside the City of Gold Coast’s unrestricted “HX” building height area, where the planning framework anticipates intensified residential development tied to the expanding light rail corridor. The planning report notes the area is undergoing “transition toward more intense development forms” given its proximity to Broadbeach, Surfers Paradise, and high-frequency public transport infrastructure.

Positioned directly opposite Broadbeach Park and within walking distance of Florida Gardens light rail station, the development would sit among a rapidly evolving stretch of Old Burleigh Road that has become one of the Gold Coast’s most active apartment development corridors.

The application joins a growing pipeline of luxury residential projects reshaping Broadbeach, including nearby developments by 5Point Projects, Polycell, and Graya.

The planning report argues the project contributes toward the Gold Coast’s long-term housing targets under the South East Queensland Regional Plan, which forecasts the need for more than 100,000 additional high-rise dwellings across the city by 2046.

<section data-scroll-anchor="false" data-testid="conversation-turn-4" data-turn="assistant" data-turn-id="request-WEB:84a2af5e-d7cf-4ddf-922a-f4d44d6c6caa-1" data-turn-id-container="request-WEB:84a2af5e-d7cf-4ddf-922a-f4d44d6c6caa-1" dir="auto">
The Abedian family departed Sunland Group in late 2023, ending a four-decade association with the company, and subsequently established the private development firm Abedian &amp; Co. The group is currently delivering <a href="https://www.apartments.com.au/new-apartments/greenmount-residences-cnr-hill-street-and-marine-parade-coolangatta-qld-4225">Greenmount Residences</a> at Rainbow Bay and recently launched <a href="https://www.apartments.com.au/new-apartments/18-mary-avenue-14-18-mary-avenue-broadbeach-qld-4218">18 Mary Avenue</a> in Broadbeach.
</section>

Joel Robinson

First look: Sunland Group returns to Broadbeach new apartment market with new Old Burleigh Road tower plans

The Minns Labor Government has established the new Bays West Delivery Authority to lead the development&nbsp;of the Bays West Precinct and Blackwattle Bay Precinct.&nbsp;

The Authority is charged with creating Sydney’s newest precinct, a thriving, connected, sustainable hub with White Bay Power Station as its cultural heart. Its vision is to build on the area’s natural, cultural and industrial history to shape a vibrant new neighbourhood.

The precinct will deliver up to 8,500 well-located homes, including a minimum of 10 per cent affordable and essential worker homes. Combine new housing with public open space, opening public access to the waterfront for the first time in more than 100 years, while retaining important deep-water facilities to support Sydney’s working harbour.

Located just minutes from the Sydney CBD and connected to a world-class metro, ferry, walking and cycling links, the Bays West precinct will rebalance housing growth towards well-serviced inner-city locations and help tackle the state’s housing crisis.

The Bays West Delivery Authority,&nbsp;an agency of the Department of Planning, Housing and Infrastructure, will report to the NSW Minister for Lands and Property who already has oversight of major precinct renewal projects including at Blackwattle Bay and Barangaroo.

As part of the broader Bays West transformation, the Minns Government recently announced that a proposal from Lendlease to redevelop part of the Bays West Precinct has progressed to Stage 2 of the NSW Government’s unsolicited proposals process.

<img alt="Sydney" data-entity-type="file" data-entity-uuid="2ed71eb9-d8e8-4fa7-b9d1-de4531dcf2f3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-25%20at%209.42.31%E2%80%AFAM.png?VersionId=IDryFIbped9SNDg72LEN_EecvhUsOPvp" />

The Minns Labor Government has also confirmed the Bays West precinct will have a new suburb name. This will be the first major suburb built in close proximity to Sydney’s CBD in decades and will encompass the area currently being referred to as Bays West, including Glebe Island and the White Bay Power Station. Served by a new Metro station just five minutes from the CBD, it will become one of the most populous suburbs in the Inner West and one of Sydney’s premier cultural destinations.

An early works program is taking shape, which&nbsp;includes the first stages of an international design competition.&nbsp;

The aim of the Bays West&nbsp;International&nbsp;Design Competition is to&nbsp;ensure design excellence is embedded in the project from the start. The competition will deliver an&nbsp;urban framework that defines the character, ambition and long-term identity of&nbsp;this&nbsp;former industrial precinct as it transitions to a vibrant, inclusive and sustainable residential&nbsp;neighbourhood.

The competition will be led by the Bays West Delivery Authority in partnership with Government Architect NSW.&nbsp;

It will launch with an invitation for a global Expressions of Interest, before moving to an invitation-only stage that will be assessed by a panel that&nbsp;will provide advice to Cabinet who will select a winner.

Premier of NSW, Chris Minns said the establishment of the new Authority is the first step in transforming the Bays West precinct into a vibrant, livable suburb minutes from the Sydney CBD and two stops from Hunter St Station on the Metro West line.

“The Authority will deliver well-located homes close to the heart of the city and integrate the new precinct with Blackwattle Bay and the new Sydney Fish Market.

“This is a generational opportunity to build a new suburb on the city’s edge and open the harbour foreshore to the public for the first time in a century.”&nbsp;

Minister for Lands and Property Steve Kamper said the new Bays West Delivery Authority established by the Minns Government will turbocharge the development of Sydney’s newest suburb.

“The Authority is working at a record pace to deliver an international design competition, planning pathways and a financial model so that this development benefits Sydney with well-designed homes in a central location, close to public transport, jobs, entertainment and essential services.

“If we want Sydney to stay liveable and affordable, we need to be bold about using underutilised government-owned land to deliver homes for the future while making sure essential working harbour functions can be accommodated.”

Bays West Delivery Authority established to "turbocharge" Sydney’s newest suburb

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.

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

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

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

<html><body>
Devine’s second-largest shareholder Lyn Brazil has criticised the national property development company for not taking advantage of Australia’s booming property markets.
Lyn Brazil, who owns 9% of the listed residential developer, voted against Devine’s remuneration report at the company’s annual meeting in Brisbane on Wednesday.
But some of the most pointed criticism was directed at the largest shareholder, the contractor Leighton Holdings.
“As we all know with Leighton as majority shareholder they pull the strings, but they have been asleep at the wheel and let all this happen,” Mr Brazil reportedly said.
The company sells new homes mostly in South East Queensland, but is little known for its Victorian, South Australia and NSW ventures, having only had the one press release highlighting buyer opportunities this year, and three since last May on its website.
The Devine masterplanned communities across Melbourne include Eden Brook at <a href="/news">Pakenham</a>, Parks Edge at <a href="/news">Cranbourne</a>, Stonehill at <a href="/news">Bacchus Marsh</a> and Pennyroyal at <a href="/news">Kurunjang</a>. In Adelaide there is Orleana Waters, at<a href="/news"> Evanston Gardens</a>. 
Founded in 1983, Devine's apartment projects in Brisbane have seen 3,000 apartments valued at more than $1 billion sold since 1993, after its prior ownership and management by David Devine who left Devine Limited, which still bears his name, in 2010.
Sales at the 111-apartment project, DoubleOne3 located in the prestigious riverside suburb of Teneriffe, are due to be settled by in June. 
Devine announced in late 2012 that it would re-enter the NSW market, after securing an option on an 86 dwelling, 5,900 square mete site in <a href="/news">Turramurra</a>, heralded as possibly its first project in NSW for nine years. But it was subsequently sold off as a development site. They have since bobbed up exchanging contracts on a 2.25 hectare site in Parramatta, expected to yield over 350 apartments. 
<div class="page" title="Page 1">
<div class="layoutArea">
<div class="column">
Devine is proposing to build a $180 million staged development with several multi-storey buildings on Morton Street, Parramatta with an existing joint venture party. The project is expected to launch in January 2015 with construction to commence the following year. 
</div>
</div>
</div>
As at 30 June 2013, Devine’s land and apartment development pipeline included the equivalent of 13,700 future dwellings.
Leighton, which owns 50.6%of Devine, had to provide a $50 million partial guarantee of Devine’s debt ­facility last year, after the Brisbane-based developer booked a loss and downgraded guidance.
“If we look at the opposing property development companies they are ­getting good profits,” the Australian Financial Review reported Brazil telling the annual general meeting
He said Devine's results that were “disappointing, dismal and damning”.
“I don’t have any inspiration or any confidence in the team, so from my point of view you should sell the company or sell the assets and give the ­capital back to shareholders,” Mr Brazil said.
Shares in <a href="https://www.devine.com.au" target="_blank">Devine</a> are tracing at 72¢, less than half its net tangible assets.
Devine chairman Peter Dransfield said he understood Mr Brazil’s views.
The company was now on track to deliver a profit before tax of between $7 million and $10 million for the full year ending December 2014.
The company had sold off $110 million in development sites, mostly in Brisbane, the Devine chief executive David Keir said. It sold a parcel of undeveloped land in North Brisbane for $14 million to private developer QM Properties this month. Last December Queensland property developer Sir John Pidgeon acquired Devine Limited’s Camelot site on Albert Street in the Brisbane central business district.
“Some challenges still remain in selected markets, with uncertain job security impacting on consumer confidence, and some regional markets currently enduring cyclical lows,” David Keir explained.
“We are carefully monitoring these areas and continuing investment is based on appropriate levels of pre-sales before construction commitment is made.”
Last year Morningstar’s Tony Sherlock blame the postcodes of Devine's property projects along with the difficulty of clearing backlogs, especially in stubborn pockets of negative equity, for its dire status.
Peter Dransfield has only been on the Devine board since April 2010 having previously held senior positions with Australand, Walker Corporation, Multiplex Group along with being the director of housing for the NSW Government.
Kier joined Devine as chief executive officer in March 2010 and was appointed managing director in April 2010 having previously been CEO of Delfin Lend Lease where he joined in 1994.
Devine’s board includes former Queensland Treasurer Terry Mackenroth who has been on the board since 2005..
The board saw two Leighton directors retire at the annual meeting, after seven years, replaced by another two Leighton directors, Ian Frost and Jeff Cummings.
 
</body></html>

jchancellor-FAypfDUnLy

"Dismal" Devine Limited attacked by shareholder for missing the housing boom

<html><body>
Newly formed company Australian Gaming &amp; Entertainment has collapsed after launching a bid last month to publicly list and buy a $95 million portfolio of Sydney pubs.
AG&amp;E was placed in administration on Monday with Cliff Rocke, John Bumbak and David Winterbottom of KordaMentha appointed as administrators.
It’s a speedy fall from grace for the pub group, which had optioned five pubs from the private Lewis group for $95 million in a bid to become an aggregator in NSW’s fragmented pub industry.
AG&amp;E, which was to be chaired by industry veteran Bill Brown, was planning on an initial public offering.
But Rocke told SmartCompany this morning the IPO didn’t ever get off the ground as the funds could not be raised.
“[AG&amp;E] were going to have a float and get confirmation from the joint lead managers from the float and the proceeds from the float were going to be used to acquire the hotels,” he says.
But despite indications AG&amp;E’s bookbuild was proceeding as planned, “cornerstone” institutional investors did not submit bids as expected and so the group could not exercise its option to purchase.
AG&amp;E described this to Rocke as “devastating news” with “no time to make alternate arrangements”. 
Rocke is still determining who the major creditors are and says at this stage there were no employees.
“The directors have some exposure whether they put in equity or unsecured amounts,” he says.    
The pubs at the centre of AG&amp;E’s plans were the Beverly Hills Hotel, The Canley Hotel, the Croydon Park Hotel in Ashfield, Wentworthville Hotel near Parramatta, along with either the Kogarah Tavern or the Lapstone Hotel.
<a href="https://www.theaustralian.com.au/business/property/new-pub-group-australian-gaming-entertainment-looking-at-listing/story-fnko7zi0-1226887041722">The Australian</a> reported last month investment banks CIMB and Wilson HTM had been drafted in to assist AG&amp;E in raising ­equity, with a roadshow for the Sydney-based company scheduled to kick off after Easter.
The administration follows the collapse last year of pub group <a href="https://www.smartcompany.com.au/growth/economy/31345-receivers-appointed-to-sydney-pub-group-turning-over--23-million-a-year">J&amp;J O'Brien</a> and of pub group <a href="https://www.smartcompany.com.au/growth/economy/22408-20111010-pub-group-in-receivership--blames-onerous-leases-for-collapse">National Leisure &amp; Gaming </a>, which operated 35 pubs in New South Wales and Queensland.
This article first appeared on <a href="https://www.SmartCompany.com.au" target="_blank">SmartCompany</a>.
</body></html>

cwaters-YrtBR88nBe

Pub group collapses after failed attempt at IPO and $95 million hotel buy-up

<html><body>
There is growing uncertainty over the future of Australian retail chain Diva, with reports emerging that the business is in the process of switching at least some of its stores to sister-brand Lovisa.
At the same time, the <a href="https://www.jewellermagazine.com/Article.aspx?id=4107&amp;h=Diva-stores-shutting-down%2c-or-maybe-not" target="_blank">Jeweller Magazine reports</a> numerous Diva stores have recently closed, including a prominent store in Westfield Parramatta in Sydney.
Staff at two Diva stores in Melbourne contacted by SmartCompany this morning said the brand is in the process of switching to the Lovisa name, although one store manager said her store won’t be changing. The same manager confirmed the Diva website has ceased operating.
Another Melbourne store contacted by SmartCompany had switched to the Lovisa brand around 12 months ago. The phone number listed for the Diva store in Rundle Mall, Adelaide, has been disconnected.
SmartCompany contacted the Lovisa head office, and the head office of parent company BB Retail Capital, but is still awaiting a response.
Jeweller Magazine also contacted numerous Diva stores, only to be given confusing explanations as to the future of the business. Some stores told the publication that all Diva stores are closing, while others said all Diva stores are changing to Lovisa.
Others said some Diva stores will continue to operate while others will change to Lovisa, and some stores said they are changing to “a completely new brand”.
Customers have left several messages on the <a href="https://www.facebook.com/divafanpage" target="_blank">Diva Facebook page</a>, asking what is happening to the chain, but their concerns have gone unanswered. The Diva <a href="https://twitter.com/divaaccessories" target="_blank">Twitter</a> and <a href="https://instagram.com/divaaccessories" target="_blank">Instagram</a> accounts have not been updated since December.
Diva was founded in 2003 by Colette and Mark Hayman, who sold the business to <a href="https://www.smartcompany.com.au/growth/17786-20101207-retail-rich-list-veteran-brett-blundy-sells-off-two-retail-chains" target="_blank">millionaire Rich Lister Brett Blundy</a> in 2005, joining Blundy’s other retail interests including Bras ‘N’ Things as part of the BB Retail Capital Group.
According to Jeweller Magazine, at the height of the Diva brand, the company was operating close to 200 stores in Australia and New Zealand and up to another 400 in international markets.
BB Retail Capital launched fellow fashion jewellery brand Lovisa brand in 2010, which is now reported to operate 158 stores in Australia and around 36 internationally.
Brian Walker, chief executive of the Retail Doctor Group, told SmartCompany he has heard anecdotal stories about changes happening at Diva, but says he would be surprised if BB Retail Capital did not continue the Diva brand “in some shape or form”.
“Diva has been a highly successful and highly profitable business and for the past two years has been the mainstay, or cash cow, of Brett Blundy’s retail companies,” says Walker. “These types of businesses operate on 80% plus gross profit.”
<img src="https://www.smartcompany.com.au/images/facebook-542-287.jpg" width="542" height="287">
Walker says it is possible Diva has not been generating the same metrics as Lovisa in recent times, but he expects the chain is “still a very viable business”. And he says the success of the brand leads him to think the closure of the website has been caused by a temporary technical glitch.
However, Walker says the market for inexpensive fashion jewellery is “reaching saturation point for both physical stores and online”.
“The creative force behind Diva really did come from [founders] the Haymans and the brand expanded rapidly,” says Walker. “But it now operates in a sea of competition, which it has partly created itself through the Lovisa brand.”
While Lovisa is pitched at a slightly older audience than Diva, Walker says there is some overlap between the two markets.
This article first appeared on <a href="https://www.SmartCompany.com.au" target="_blank">SmartCompany</a>.
</body></html>

ekeating-PWvazjYE25

What’s happening at Diva? Confusion over future of Australian fashion accessories chain

<html><body>
New research available from today has listed the 10 suburbs that have seen the largest capital growth for the quarter for houses and units nationally.
Sydney, according to the list, has done well across both units and houses – with <a href="/news">Beaumont Hills</a> and <a href="/news">Eastwood</a> topping the houses list, and <a href="/news">Wollstonecraft</a> and <a href="/news">Milsons Point</a> topping the units list.
Houses, however, outperformed unit suburbs, with double digit growth recorded in seven of the top suburbs.
In fact, there was just one offering outside of New South Wales that made it onto the house suburb list – Melbourne’s <a href="/news">Alphington</a>.
On the best unit list, the results were a tad more mixed, and actually included a country Western Australia listing.
Consulting analyst for Onthousehouse, and founder of Residex, John Edwards, said that Sydney growth has continued through 2014.
“Growth in Sydney has continued, with house price growth of 8.15% in the last quarter. We have not seen this high level of quarterly growth since September 1988, when Sydney saw its last large property price boom,” said Edwards.
“While the strong growth rates are good news for property owners, if growth continues on its current upward path there could potentially be some problems in the medium-term as interest rates are likely to increase.
Edwards urges anyone looking to buy to heavily research the area.
“Gathering information on a suburb is crucial before buying. Investors should be able to estimate where a suburb is in its growth cycle if they are considering buying in the area,” he said.
See over page for the top performing suburbs.
<hr class="system-pagebreak">
<img src="/images/2014/05/29/bets-houses-may-29.gif" alt="">
Source: Onthehouse.com.au / Residex
<img src="/images/2014/05/29/bets-untismay-29.gif" alt="">
Source: Onthehouse.com.au / Residex 
</body></html>

jduke-EHk3XBmHkn

The quarter’s 10 outperforming unit and house suburbs, Sydney tops list: Residex

<html><body>
Somehow when we talk about the biggest phenomenon in Inner Melbourne home buying, Chinese nationals, their spending power and the apprehension that is increasing out there among some home buyers when competing against overseas buyers, we get diverted from the main game.
The main game, in our mind, is not the Chinese nationals themselves. It is how they as a group have been changing the face of Melbourne home buying, particularly since 2009, and how you need to deal with the associated price issues that overseas wealth (demand) and reducing housing stock (supply) will have on you and/or your children’s current and future home buying plans.
What has been happening in the market in the last five years (post-GFC) <a href="/expert-insights/investing/chinese-buyers-in-melbourne-a-simple-case-of-supply-and-demand">is more about demand, supply and price than about Chinese nationals</a>. Big picture-wise, the price and supply changes we are seeing would have happened eventually due to organic population growth. However, right now the overseas market, and in particular the wealth and actions of Chinese nationals, are significantly accelerating the price and supply issues through their demand.
<blockquote>
Overseas buyers are not buying every home, everywhere. Their effect is much more like a snowball rolling down a mountain; in some markets this has turned into an avalanche, whereas in others it is still just a small snowball rolling down a mountain.
</blockquote>
As home buyers you need to deal with this, just as you need to deal with agents, auctions and other nuances of the Melbourne market.
Overseas buyers are not buying every home, everywhere. Their effect is much more like a snowball rolling down a mountain; in some markets this has turned into an avalanche, whereas in others it is still just a small snowball rolling down a mountain.
The effect of overseas buyers is best evidenced by the different strengths and bidder depth in the Inner East markets versus the Bayside markets.
The Inner East market is where Chinese national bidding is the most significant.
<ol>
<li>Inner East had a far shorter GFC period in 2008/2009 than Bayside</li>
<li>Inner East had minor price drops compared to Bayside in the GFC and in 2011/12</li>
<li>Inner East has stronger price per square metre land prices across the board (except absolute <a class="st_tag internal_tag" href="/news" title="Posts tagged with Brighton" rel="tag">Brighton</a> waterfront)</li>
<li>Inner East has changed streetscapes in many areas. with new builds specifically aimed at the Chinese national market, e.g. <a href="/news">Balwyn</a> and <a href="/news">North Balwyn</a>.</li>
</ol>
Short-term and understanding the changing market nuances
As buyers you need strategies to compete against wealthy overseas buyers now and to buy well generally now. You also need to understand as buyers that EOIs are set up in a number of cases for Chinese nationals and other overseas buyers. You need to manage that if the home you want to buy is being sold through an expressions of interest campaign.
You need to understand how Chinese nationals and other overseas buyers value land and buildings, so you can compete effectively.
You need to understand how different cultural influences affect private sale and EOI negotiations and you need to know how to prepare and bid at auction when competing against overseas buyers.
If you don’t, or your strategy is to wait, then we think you may have issues, as we have tried to illustrate in the above diagram.
But it’s not just about you buying a home now. What effect will this significant influx of wealth have on your children buying homes?
Longer term solutions and a different strategy
As buyer advocates, a large part of our business has always been buying generational homes for families to live in and pass on. We have acted many times for local and overseas clients, including Chinese nationals, with this as a key desired outcome.
An increasing market segment for us (with a slightly different take, but same desired outcome) is the purchase of smaller, well-located family homes through super funds.
These $1 million plus homes are bought as quasi-investments and sit in super funds with the view they can return some cash and provide some growth in the medium term; but ultimately they are purchased for our client’s children as a hedge against being priced out of the market.
Generational Homes for you and your children
Personally my family lives in a three home estate in Brighton with grandparents and parents and children. This has been set up like this to assist future generations to remain in the area (if they so choose).
It was relatively easy for my generation in the 1970s and 80s to move from Outer Melbourne (Doncaster was then Outer) to Inner Melbourne (Malvern then Brighton).
But how easy will it be for our children to find a home? Our children may well be the first generation that is living in poorer accommodation as adults than they grew up in as children.
Unless our children are rocket scientists with an entrepreneurial bent, or they get parental help, they will be moving further away from Inner Melbourne on affordability grounds. Or they will be living nearby but in apartments.
In moving further away from Inner Melbourne your children will also be moving further away from infrastructure, transport, school choice, the footy, restaurants and you.
We suggest you develop strategies now.
We are not for or against overseas buying, just as we are not for or against first home buying grants or for or against negative gearing. Our job is not to debate. We see our job as raising the issues and helping our clients find solutions. We are buyer agents operating in the Top End marketplace.
We feel this best helps you, the buyer, consider your options now and into the future.
Mal writes weekly auction reports, advice and in-depth market analysis on <a href="https://www.jamesbuyeradvocates.com.au/" target="_blank">James' website</a>.
</body></html>

maljames-vHwm28JUAa

Strategies to compete with overseas buyers

<html><body>
There has been broad agreement among analysts that this will be the year of Brisbane, but it's regional Queensland leading the charge in 2014.
Most commentators, especially the chattering economists, focus exclusively on the capital cities in their "analysis" of real estate in Australia. The regions seldom rate a mention, other than an habitual obsession with bad news areas like the Gold Coast.
Property investors also tend to overlook the regions - and that's to their detriment. Over the years surveys have found most investors believe you have to buy in capital cities to get capital growth. But regional centres offer the potential for a win-win-win situation: cheaper prices, better rental yields and excellent potential for capital growth (assuming you buy wisely).
In Queensland in particular, regional cities must always be considered. Queensland is the most decentralised state and has a line-up of strong regional cities that matter both economically and in a real estate sense: <a href="/news">Townsville</a>, <a href="/news">Toowoomba</a>, <a href="/news">Rockhampton</a>, <a href="/news">Cairns</a>, the Sunshine Coast, <a href="/news">Gladstone</a>, <a href="/news">Mackay</a> ... and, yes, even the Gold Coast, though it's more of a theme park than a city.
The latest figures from the Real Estate Institute of Queensland indicate that Brisbane overall hasn't moved a great deal but many of the regional cities have.
<a href="/news/qld/the-regions-have-queenslands-most-pronounced-rental-price-movements-terry-ryder">Since the middle of last year</a> I have been recommending that investors consider some of Queensland's coastal cities which have been poor performers in recent years but are now moving into growth phases.
These include Cairns, the Sunshine Coast and Hervey Bay. These places have a number of things in common - economies that have struggled in the past through over-reliance on tourism and property markets weighed down by over-supply.
Their recoveries have common features as well - a big increase in infrastructure spending, efforts to diversify their economies, absorption of the previous accommodation surpluses and recovery in tourism markets. These places have been at the forefront of Queensland price growth in the early part of 2014.
I have spoken to investors who own Cairns property and have only negative things to say about the city's market. But that's the past and hotspotting is about perceiving the future. And, in line with our forecasting, Cairns was Queensland's leading performer in the March quarter - it's median house price rose 5.6%.
Hervey Bay rose about 3%, <a href="/expert-insights/investing/rocky-on-the-rise-as-gladstone-stumbles-terry-ryder">as did Rockhampton</a>, while the Sunshine Coast improved 2% in the quarter, as did Townsville.
The Gold Coast rose 4% and is now back on a growth path after five years of decline. There's plenty of infrastructure spending happening there as well and normally I would have such a place on my good list.
But the coast's miserable capital growth history, thanks to continual bouts of over-supply, counts against it - particularly with the level of new supply in the pipeline.
Every week brings new announcements of new skyscrapers. The Gold Coast is gearing up to repeat the mistakes of the past.
I'd rather own real estate in <a href="/expert-insights/buying/regional-hotspot-toowoomba-shows-great-investor-potential">a city of substance like Toowoomba</a> than a place of froth and bubble like the Gold Coast.
You can contact Terry via <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email</a> or on <a href="https://www.twitter.com/hotspotting" target="_blank">Twitter</a>.
Photo of Townsville at night: Creative Commons.
</body></html>

terryryder-YECXbqmri2

Forget the Gold Coast, it's regional Queensland leading the charge

<html><body>
GUEST OBSERVATION
A damaging admission by the Commonwealth Bank will boost concern about the government’s plan to weaken protections for consumers seeking financial advice and throw into doubt its timetable for announcing changes.
The bank’s earlier failure to provide a parliamentary inquiry with full information about its handling of the aftermath of financial advisers' misconduct has forced a last-minute delay to a Senate report into the affair.
The bank now admits not all the relevant clients were contacted and offered the promised $5,000 to help them get fresh advice. More than 4000 cases are now to be dealt with.
Full information was apparently withheld by the bank for some time from the inquiry and from the Australian Securities and Investments Commission.
The government’s proposed changes to Labor’s Future of Financial Advice (FoFA) law would advantage the banks. They would apply the ban that exists on “conflicted renumeration” only to the provision of personal advice - exempting general advice provided by employees of banks and product manufacturing institutions.
The controversial package was put on hold for further inquiry and consultations. Seniors groups have been particularly critical.
Finance Minister Mathias Cormann is anxious to finalise the measures quickly and does not want to revise them substantially.
But what the Senate economics references committee on Wednesday described as “surprise developments” – the production of new information from ASIC and the bank - will increase suspicion.
The committee, investigating the performance of ASIC, had been due on Friday to present a report expected to be very critical of the bank.
One of the committee’s main concerns has been the misconduct of some financial advisers in Commonwealth Financial Planning Ltd (CFP), part of the Commonwealth Bank of Australia Group, and ASIC’s response to allegations of wrongdoing.
The committee said in an interim report on Wednesday that it was particularly interested in the adequacy and integrity of the ASIC-approved compensation arrangements for affected clients.
It had been well advanced in preparing its report when on May 16 ASIC and the CBA advised there were inconsistencies in the way in which the compensation arrangements had been applied.
“This revelation suggested that, for some time, the CBA had not kept either the committee or ASIC full informed about the compensation process for clients affected by serious misconduct within CBA’s businesses,” the interim report said.
Although ASIC and the CBA had attempted to correct the record, the committee said the evidence provided was “sketchy” and many questions were left unanswered.
Committee chairman, Labor’s Mark Bishop, said these included how many affected clients were “kept in the dark by the CFP, for how long, and the number who missed out on the offer of $5000 to help them pay for an expert assessor to assist their claim”.
Concerned it might still not have a full understanding of what had happened, the committee has asked for more information from ASIC and the bank.
Bishop tweeted that he was alarmed that “ASIC says over 4000 clients affected by inconsistent approach CBA applied to compensation measures. Maybe ten of thousands”. The latter number is a reference to possible unidentified clients.
The committee’s final reporting date has been delayed to no later than June 26.
The Senate economics legislation committee, with substantially overlapping membership with the ASIC inquiry, is examining the proposed FoFA changes.
It will report on June 16 and Cormann has planned to announce the government’s position immediately after that.
But the government could expose itself to more criticism if it did not wait until the report dealing with the Commonwealth Bank.
Chairman of the Financial Planning Association Matthew Rowe told The Conversation one would expect the latest development would push out the timetable for the government’s announcement.
His organisation, a professional body representing financial planners, has written to Cormann with its concerns about the reintroduction of commissions. It says the selling of products should be clearly separated from providing professional advice.
“Consumers are becoming increasingly suspicious of the behaviour of some of our major institutions,” Rowe said.
“The government needs to take great care with the arguments of those with significant vested interests where there is a real and significant public interest at stake.”
On FoFA the government is trapped in the triangle of what it wants to do, what politically it should do, and what the Senate will allow it to do.
<img src="https://counter.theconversation.edu.au/content/27285/count.gif" alt="The Conversation" width="1" height="1">Michelle Grattan is one of Australia's most respected and awarded political journalists. Michelle currently has a dual role with an academic position at the University of Canberra and as associate editor (politics) and chief political correspondent at The Conversation.
This article was originally published on <a href="https://theconversation.com" target="_blank">The Conversation</a>. 
</body></html>

jake-cSmGT7VXVf

Commonwealth Bank behaviour sends more warning signals about Liberals' financial advice changes

<html><body><div title="Page 1">
<div>
<div>
Mirvac Group has secured four residential development projects across Sydney, Melbourne and Brisbane totalling $144.2 million, on mostly delayed settlement terms.
“These acquisitions significantly restock our residential development pipeline and will provide long-term earnings benefits from FY16 onwards," Mirvac's managing director, Susan Lloyd-Hurwitz said.
"They sit within our directional mandate to acquire apartments in the inner ring and masterplanned communities in infill ring locations, and highlight our capacity to source and secure off-market opportunities in key locations."
<div>
<div>
There was the purchase of an inner ring residential site in Waterloo, with the potential to deliver 250 residential apartments and 1,000 square metres of retail space. It is subject to FIRB approval.
Then inner ring residential site in Brisbane is located in south Brisbane with city and river views. The development has approved planning for a two staged apartment project of 329 lots across two towers, and will comprise one and two bedroom offerings. The project is expected to contribute to earnings from early 2017.
Settlement of the acquisition will occur in two stages, with stage one expected in mid-2014 and stage two expected in mid-2015.
</div>
</div>
<div title="Page 2">
<div>
<div>
Mirvac has also purchased a property off Raby Road, Catherine Fields, 60 kilometres south-west of Sydney’s CBD within Sydney’s South West Growth Centre region. The 87 hectare site has the potential to deliver up to 600 lots. 
Altona North is the location of the Victorian acquisition. It is an 11.5 hectare infill site in Blackshaws Road, Altona North, with the potential to deliver 260 lots, subject to planning approvals.
Mirvac has appointed Brett Draffen to the newly created position of chief investment officer.
Brett Draffen had previously been the company’s chief executive development and group strategy.
</div>
</div>
</div>
</div>
</div>
</div></body></html>

Mirvac grabs four off-market residential project sites with 1,400 dwelling potential

<html><body>
Four consortia have been shortlisted to develop a six-star multi-billion dollar integrated resort development at Queen’s Wharf Brisbane.
<ul>
<li>Crown Resorts Ltd</li>
<li>Echo Entertainment Group Ltd</li>
<li>Far East Consortium/ Chow Tai Fook Enterprises Ltd</li>
<li>Greenland Investment Pty Ltd.</li>
</ul>
In October last year the Queensland government decided a gaming licence would be available for the under-utilised nine hectare government-owned site adjacent to the north bank of the Brisbane River.
The shortlisted companies will be required to lodge fully-developed proposals with the government in late 2014.
A formal announcement regarding the successful developer and their development scheme is not expected until early 2015.
{qtube vid:=V_Eiiyy8ec4#t=56}
Crown Resorts Ltd
One of Australia’s leading integrated resort and casino operators with international joint-ventures and associated gaming and hospitality interests.
Extensive domestic experience developing, owning and operating integrated resort development (IRD) casinos including:
<ul>
<li>$3.7 billion Crown Melbourne, Southbank urban redevelopment</li>
<li>$850 million Crown Perth refurbishment</li>
<li>$2 billion (planned) Crown Sydney.</li>
</ul>
Echo Entertainment Group Ltd
One of Australia’s leading integrated resort and casino operator with substantial presence in domestic market.
Domestic IRD casinos include:
<ul>
<li>$870 million Star Sydney upgrade (2008-2012)</li>
<li>Treasury Casino and Hotel Brisbane</li>
<li>Jupiters Casinos and Hotels in Townsville and the Gold Coast (planned $345 million refurbishment).</li>
</ul>
Far East Consortium/ Chow Tai Fook Enterprises Ltd
International hospitality and mixed-use property developer/operator with some domestic development experience in Melbourne and Perth.
Notable large scale developments include:
<ul>
<li>$3.3 billion Trump Place, New York City</li>
<li>$1.2 billion Hong Kong Convention and Exhibition Centre</li>
<li>$1.2 billion 250 Spencer St, Melbourne integrated residential, retail, hotel and public realm development.</li>
</ul>
Greenland Investment Pty Ltd 
Fortune 500 Chinese state-owned international large scale mixed-use property developer.
Notable projects include:
<ul>
<li>400 hectare Greenland Nanchang activity centre urban redevelopment</li>
<li>$1 billion 82 hectare Zhengzhou Greenland Central Plaza activity centre and transport hub</li>
<li>$680 million Greenland Centre Sydney residential tower.</li>
</ul>
</body></html>

Crown versus Echo again, with Greenland and Far East also seeking Brisbane Queen's Wharf project

<html><body>
Workplace design and facilities sit just behind salary as key influences on a candidate’s choice of workplace, according to research from design firm HASSELL and Empirica Research.
When you’re expecting someone to spend more than forty hours a week in an office, that office had better be good. If it’s good enough, some workers may even be willing to accept a lower salary. In HASSELL and Empirca Research’s survey, 24% of candidates reported that they would be likely to accept lower pay than they currently received if the new position came with appealing workplace facilities and culture. Appealing technology bumped that proportion up to 37%.
Pay aside, the survey found that providing an appealing workplace doubled the attractiveness of an employer to candidates, all other variables held constant. While providing facilities like gyms, childcare and outdoor spaces were found to be the most effective way of boosting a workplace’s appeal, design was found to count too.  ‘Creative, modern’ workplace design increased an organisation’s attractiveness to the prospective candidates by three times over ‘conservative, corporate’ workplace design.
<img src="/images/2014/05/28/hub%20melbourne.jpg" alt="">
Hub Melbourne. Photograph by Dianna Snape.
Though much of this information will come as no surprise to those in the architecture and design industries, HASSELL principal Steve Coster says that the empirical data will go a long way in convincing employers about the importance of design.
“There are people who are converted to the idea that workplace is worth spending time and money and effort on, and there are people who need more convincing. And one of the challenges is that we often don’t have rigorous substantiation data to make our argument,” he says.
However, he says that employers are starting to realise the benefits of quality workplaces.
“I think that’s definitely a generally higher acceptance now of the opportunity that workplace represents than there was 10 years ago, when I started working in workplace strategy type work,” says Coster.
“The more people see it and the more they experience good workplaces, the more they realise what’s possible. The biggest barrier is people not knowing what they don’t know, and not realising what a workplace can be like, and that it doesn’t have to be awful – it can actually be quite a good place to be if it’s done well.”
Coster often cites SA Water House as an example where workplace design has influenced the organisation’s culture and cut costs. HASSELL designed the over 20,000 square metre building, which included office spaces and laboratories.
 <img src="/images/2014/05/28/sa%20water%201.png" alt="">
SA Water House. Photograph by Matthew Sleeth.
“They had quite a broad cultural agenda to change the kind of organisation that they were,” says Coster.
“One of the symptoms they said would reflect progress was their attractiveness to a new generation of employees. So that was a KPI for the shift they were trying to make. And from a couple of years before they moved into their new workplace until a couple of years after, they went from less than 20 graduate applications a year to getting more than 400 applications a year.”
With mining and engineering companies in Adelaide attracting the majority of engineering graduates, the influx of interest in SA Water from new candidates was a “strategically important issue,” says Coster.
 <img src="/images/2014/05/28/sa%20water%202.png" alt="">
SA Water House. Photograph by Matthew Sleeth.
But there was also an improvement in retention and productivity of the existing workforce.
“They had a reduction in sick days by one day per person per year. With nearly 1000 employees, matter what they do, that’s 1000 days of productivity that they didn’t get before.” Meanwhile, employee turnover reduced from 10% to 8%, and graduate, trainee and apprentice retention increased from 81% to 91%.
Another example of the influence on workplace culture and design on staff retention is Hub Australia. The Hub, working on a membership basis, charges freelancers, entrepreneurs and creative to use their office spaces. Their Australian spaces were designed by HASSELL. Coster says that the Hub’s members’ willingness to pay to work there is in some ways “the ultimate test of attractiveness.”
<img src="/images/2014/05/28/hub%20sydney.jpg" alt="">
Hub Sydney. Photograph by Nathan Dyer.
“How many organisations’ employees would pay for the right to use their work place? What would you provide differently if you had to encourage people to come so much that they would pay for it – because it would have to be different to your usual cubical work station,” he says.
<img src="/images/2014/05/28/hub%20sydney2.jpg" alt="">
Hub Sydney. Photograph by Nathan Dyer.
HASSELL uses the “Walking the talk” model by Caroline Taylor to analyse and describe workplace culture.
“She talks about culture being made up of the systems, symbols and behaviours that are repeated in an organisation over time,” says Coster. The three dimensions make up a business’s system of working.
“They show you what’s valued, they show you what the priorities are,” he says.
 “The physical workplace is an opportunity to affect all three of those channels, in a very underlying, pervasive, almost passive, background sort of way.” Coster notes the classic boss workplace stakeout, in the corner office rather than sitting with the team.
"That’s a highly symbolic message about the kind of culture you want to create. And if you think about what those messages are and what kind of messages you want to enforce or eliminate; what kind of systems you want to build in and which ones you want to get rid of, you can reinforce all of that through your physical environment." 
</body></html>

Latest Investing Insights

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

Editor's Picks

Developments

New apartments

New townhouses

News

Latest Investing Insights

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

Editor's Picks

Receive the latest news stories to your inbox

Developments

New apartments

New townhouses

News