<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

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Stockland has upped its Australand offer to $4.35 per security.
<a href="/expert-insights/investing/australand-dismiss-stocklands-takeover-attempt-as-incomplete">Stockland’s first $2.4 billion offer in April</a> for the diversified property developer equated to around $4.20 a security, or around $2.5 billion. It was rejected by Australand. 
Stockland <a href="/expert-insights/investing/stockland-swoops-on-australand-stake-in-possible-takeover-precursor">purchased a 19.9% stake in Australand</a> in March.
“This compelling final offer represents a substantial premium against a range of measures and would bring together two high calibre companies with complementary assets and cultures," the Stockland managing director, Mark Steinert, suggested.
"The combined group would be the leading residential developer in Australia, including medium density, the leading owner and manager of shopping centres in regional locations and a top two logistics and business park owner/developer.”
The latest proposal to Australand security holders reflects:
<ul>
<li>22.2% premium to Australand's NTA;</li>
<li>18.0% premium to the price at which CapitaLand sold (and institutional investors purchased) 20% of the outstanding securities on issue on 21 November 2013;</li>
<li>16.9% premium to the price at which CapitaLand sold (and institutional investors purchased) 23.4% of the outstanding securities on issue on 19 March 2014; and</li>
<li>A 12.1% premium to the volume weighted average price ('VWAP') of $3.88 for the three month period up to and including 18 March 2014, the day prior to Stockland acquiring an interest in 19.9% of Australand.</li>
</ul>
As an alternative form of consideration, Stockland is prepared to offer a reduced scrip ratio, together with a cash component up to an aggregate of $250 million, with the structure to be agreed with the Australand Board.
"We have made this final offer following dialogue with Australand," Mark Steinert said.
Stockland reconfirmed its <a href="/expert-insights/investing/stockland-well-placed-to-deliver-earning-growth">guidance of 6% EPS growth in FY14</a>, assuming there is no material decline in market conditions and targeted 5% annual average EPS growth through the cycle. 
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jchancellor-FAypfDUnLy

Stockland finally ups Australand offer to $4.35 per security

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A cold storage freestanding warehouse facility in Brisbane's south-east has been sold by Ray White Commercial, bringing in $1.35 million.
The Tingalpa property, at 67 Proprietary Street, sold as vacant possession to processed food distributors PFD Foods.
The deal was negotiated by Ray White Trade Coast's Jared Doyle who said that solid interest had been seen in the facility, with a number of offers before the accepted $1.35 million.
On approximately 2,126 square metres, of which the warehouse covers 960 square metres, the facility will be an addition to PFD Food's existing premises in Lytton. “PFD Foods was looking for another food preparation facility and offices to accommodate its growing business catering for a new contract with Costco,” said Doyle. “This facility has approximately 312 square metres of mezzanine office level.  There’s approximately 521 sqaure metres of food preparation and cold storage areas and a goods receiving ability from the hardstand area.”
It caters for parking of 12 cars, and is fully fenced. Doyle noted that another bonus is the location of the property to the Gateway Motorway, Brisbane Airport and the Port of Brisbane.
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jduke-EHk3XBmHkn

Brisbane cold storage warehouse brings in $1.35 million

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The celebrity chef Bill Granger - who retains two restaurants in Sydney, along with four in Japan, and in London's Notting Hill and Clerkenwell - has opened Bills Sydney in Hawaii. And his next outlet opening will be Seoul in June.
<a href="https://www.billshawaii.com" target="_blank">It is a rustic-chic beach house in Waikiki</a> that opened last month.
The trademark creamy scrambled eggs that put him on the culinary map are available at 280 Beachwalk Avenue.
It's between the Hilton and Westin in low-level contemporary <a href="https://www.thebeallcorporation.com/projects/280_beach_walk/BW_1_DSC_1495" target="_blank" style="line-height: 1.3em;">building</a> (pictured above) that also houses the Hard Rock Cafe in the two-story 30,519 square foot retail building.
Located at Waikiki’s west side, Honu Group’s retail development is close to the Fort DeRussy Reservation.
<a href="https://www.thebeallcorporation.com/pdfs/280_beach_walk-brochure.pdf" target="_blank">2006 stats showed a daily US$202 expenditure by Oceania visitors</a> which Bills will be seeking some of the spend especially from those who know of his fare.
"I only open where I’m inspired; something about the place and lifestyle needs to speak to me," he recently said.
"Honolulu is my favourite type of beach town - urban.
"I had no idea how vibrant the food scene was; I’ve been inspired by the tropical produce and fusion of Vietnamese, Japanese and indigenous cuisines (with a bit of Brooklyn thrown in).
"The menu includes nods to these local dishes, plus all the bills classics and pizzas piled with fresh healthy toppings," he says.
He is not the only Australian in the complex as CBRE's Andrew Starn secured <a href="https://www.bizjournals.com/pacific/news/2013/06/12/pacific/search/results?q=Andrew%20Starn" style="line-height: 1.3em;"></a>tenants including Le Blanc Art with the Australian-born artist Shane Bowden. The other tenants include Akakura, a high-end shoe store, 24 Karat, a Japanese surf shop and the Rome-based women’s clothing and accessories boutique Brandy Melville.
Title Tattle recalls Bill Granger got his training at the iconic La Passion du Fruit on Paddington's Oxford Street after hailing from Melbourne.
Granger opened the original bills in the Sydney suburb of Darlinghurst in 1993, when he was 22.
His Queens Court, Woollahra restaurant recently closed, replaced by the vibrant Luxe.
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Bills of Sydney rides wave of international success to Waikiki, Hawaii

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Smaller suites in secondary building assets are seeing solid demand, according to Ray White Commercial.
Noting the Sydney CBD strata market has been a strong performer in the total CBD office rental market, head of research for Ray White Commercial Vanessa Rader, said that Sydney CBD’s strata market is approximately 10% of the total market.
Gross face rents achieved for smaller office suites across the CBD averaged $579 per square metre as of March 2014. This is 2.65% up on 2013’s face rent achieved.
“This is a better result than the prime office market which currently averages $778 per square metre, a 1.89% increase on the previous 12 months,” said Rader.
The prime CBD office market has dramatically different incentive levels from the secondary market.
“The secondary market has a far more variable incentive structure which varies depending on lease size, term, quality and lease type,” she said.
THREE MUST KNOW FIGURES – VACANCY RATES
<ol>
<li>D-Grade stock: 6.7% 
</li>
<li>C-Grade stock: 7.8% 
</li>
<li>Average: 9.0%</li>
</ol>
Source: Ray White
“Incentives can range from as low as 5% to as high as more than 35% (for sublease space), shown as a combination of fit out and rent free periods,” she said.
“Quality small suites in attractive, modern assets continue to the highly sought after by small businesses and can be somewhat sheltered from high incentive levels offered in the prime market and achieve strong effective rental rates.”
Currently, D grade office assets are the best performing for occupancy in the CBD – with the vacancy rate at just 6.7%. The C grade assets are recorded a 7.8% vacancy rate. 
“This result when compared to the total Sydney CBD vacancy rate of 9.0% demonstrates the ongoing, solid demand for smaller suites in these secondary assets,” she said.
“These assets also showed the greatest six monthly absorption rate of all quality grades, with a total absorption of 10,873 square metre.”
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 Secondary office market shows Sydney strength: The three numbers to know

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The Green Building Council of Australia’s 6 Star Green Star rating has been awarded to Barangaroo South’s Tower 2 commercial building. The Office Design c3 certified rating identifies sustainable building practices.
The 42-storey Tower 2 is the largest building to receive this rating, and it is currently under construction.
New South Wales Environment Minister Rob Stokes said that supporting the sustainability in the commercial office sector is something the state government is behind.
“It is great to see sustainability made a priority in this project, reinforcing NSW as a leader in the area of environmental innovation,” said Stokes.
Tower 2 is one of three buildings that collectively create the International Towers Sydney, and it includes Westpac and Gilbert + Tobin as anchor tenants.
Lend Lease chief executive officer, property, Australia, Tarun Gupta, said that the internationally-recognised rating helps benefit corporate tenants, residents, retailers and visitors, with a sustainable view across the entirety of Barangaroo.
“Lend Lease's aim is to make the precinct Australia's first carbon neutral community,” said Gupta.
“Energy-efficient design, on and offsite low carbon and renewable energy teamed with zero carbon waste treatment and commuter carbon emission offsets, will result in a net carbon neutral outcome for the precinct's operational energy use.”
An on-site blackwater treatment plant, which has the capacity to supply a million litres of recycled water to the precinct and local suburbs, is an initiative of the precinct.
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Green star certification awarded to Barangaroo South Tower 2

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Shell Australia have extended their lease by another 5,487 square metres at KS2, Kings Square, Perth, bringing their total leasing arrangement to 19,300 square metres of space, according to Leighton Properties and DEXUS Property Group. This covers the entire building.
The second office tower in masterplanned Kings Square Precinct, KS2 now has Shell across 11 floors of the building. The precinct is under construction in the $5.2 billion Perth City Link development, and is said to be one of the most significant commercial and retail projects nationally.
Leighton Properties national head of commercial Andrew Borger said that there is increasing confidence within the resources sector.
“We now have 100 per cent of the commercial space leased at KS2 - and with this we will see an increased occupancy at Kings Square and enormous flow on benefits for the precinct, particularly for its retail,” said Borger.
Shell Australia general manager – production Michael Schoch said that this move to Kings Square to occupy the entire KS2 building provides the flexibility required for growth and staff facilities.
“With our staff numbers doubling to 1,000 in support of Prelude FLNG, this investment in our new corporate headquarters reflects our commitment to Western Australia and Australia,” Schoch said.
Towers KS1, KS2 and KS3 are jointly owned, 50/50, by DEXUS Property Group and DEXUS Wholesale Property Fund. In total, the towers cover 52,033 square metres of office and retail.
DEXUS executive general manager, office and industrial Kevin George said that the total commitment across all three towers is now 55%.
“This is further evidence that quality, affordable stock is in demand in the Perth CBD and we expect to see continued interest from other potential high calibre tenants in the Kings Square precinct,” said George.
The precinct will include a childcare centre, 24 hour gym, retail and restaurants. The first four towers are currently being built, gearing up for a mid-2015 completion date.
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Shell Australia expands floor space in Perth’s KS2

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Hotel Saville, in South Yarra, and its Punt Road vacant block used as parking, have hit the market as two separate purchasing opportunities.
The hotel site, 1-5 Commercial Road, South Yarra, has been trading since the early-1970s and is said to be “synonymous” with the South Yarra skyline. It has an octagonal-shaped façade and currently operates as a 3.5 star motel facility.
It has 34 rooms and 360 degree views.
The parking opportunity is at 270 Punt Road. Combined, the sites are expected to fetch circa $7 million.
There is the suggestion that the hotel could be redeveloped into a multi-storey site, and both are zoned Residential 1.
The <a href="https://www.realcommercial.com.au/property-land+development-vic-south+yarra-501125927" target="_blank">1- </a><a href="https://www.realcommercial.com.au/property-land+development-vic-south+yarra-501125927" target="_blank">5 Commercial Road</a> site is 940 square metres, while 270 Punt Road is 450 square metres.
 Colliers International selling agent Ben Baines said that it has a significant upside potential.
“We expect the properties to attract interest from residential developers as well as hotel/motel developers,” said Baines.
“There is also the flexibility for a purchaser to acquire the two sites and keep running them as a Hotel in the short to medium term while they obtain planning permits,” he said.
It has multiple street frontages, and is offered as a freehold and going concern.
Meanwhile, Ted Dwyer who is co-appointed to sell the offering, said that the apartment market in South Yarra is booming, which may be another attraction.
“The properties have great access to popular attractions and amenities such as the Prahran Market, Chapel Street, Fawkner Park, the Botanical Gardens and Albert Park Lake,” he said. “St Kilda Road, the Monash Freeway and public transport are all nearby, while The Alfred Hospital is just down the road,” he said.
Currently, standard Queen beds are from $105 per night with a minimum seven night stay, according to online booking details. It is also called the “affordable alternative” for accommodation in the area.
Expressions of interest for the site close on 12 June at 3pm.
Currently, an<a href="https://www.longreachaustralia.com.au/sentry/monument-pinnacle/Monument-Investment-Report.pdf" target="_blank"> investment report from Longreach Property</a> is available about the site, which suggested that an 84-apartment, 82-carpark development was the plan for the site, with a potential for 320 square metres of retail on the ground floor, with an entrance from Affleck Street. The DA was put before the City of Stonnington in 2010.
The development would have been known as <a href="https://www.longreachaustralia.com.au/sentry/monument-pinnacle/Monument-Investment-Report.pdf" target="_blank">Monument South Yarra</a>, designed with Bruce Henderson Architects. Other information from <a href="https://www.pinnacle-props.com/downloads/investorbrief/Monument%20-%20Investor%20Brochure.pdf" target="_blank">Pinnacle Property Investments</a> suggests that it may have been a plan for 90 apartments over 10 levels. Vogue on Chapel Street is identified as the closest example, bringing pricing of Monument to $503,500 for a level four two-bedroom apartment with parking and $453,750 for a one-bedroom level four apartment. This was several years ago.
The City of Stonnington received the application in late-2010 according to their date stamp on <a href="https://www.google.com.au/url?sa=t&amp;rct=j&amp;q=&amp;esrc=s&amp;source=web&amp;cd=7&amp;ved=0CFMQFjAG&amp;url=http%3A%2F%2Fwww.stonnington.vic.gov.au%2FDownloadDocument.ashx%3FDocumentID%3D4716&amp;ei=7FKFU9LDC8vNlAWxoID4Bg&amp;usg=AFQjCNHJ4SDmG5LOzcAvazYUwlAKaNlFLA&amp;sig2=hbtylruplw3YLXkX3ihP_Q&amp;bvm=bv.67720277,d.dGI" target="_blank">Urbis’ Planning and Urban Context Report (note: link is a PDF download of the report)</a>.  
Clearly, this never went ahead, leaving an opportunity for the next purchaser.
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On the market: Hotel Saville, a piece of the South Yarra skyline

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Caravan parks appear to be attracting a lot of attention in New South Wales’ far north coast area of Tweed Head.
Ray White Commercial notes that Tweet Heritage Caravan Park at Chinderah (pictured above) sold for $6.08 million.
Sam Johnson of Ray White Commercial said that it was a once in a lifetime option to acquire the fully operational business set up on a substantial parcel of land.
“We had 76 enquiries during the marketing campaign and 15 offers to purchase were received. Caravan parks and manufactured housing estates are playing an increasingly important role in meeting the housing requirements of the ageing population in Australia,” he said.
Institutional investors and “cashed up private investors” are looking at this sector of the market, he said.
This most recent sale followed two other similar sales totaling more than $12 million. One of these sales was the adjoining Chinderah Lakes Caravan Park at 182-184 Chinderah Bay Drive, Chinderah. This site cost just under $4 million and sold to the same Sydney-based private fund.
The Royal Pacific Tourist Retreat and Caravan Park in Chinderah was also recently bought for $2.5 million.
THE PROPERTY
<ul>
<li>Vendor: Tweed Heritage Park Pty Ltd</li>
<li>Type: Caravan park</li>
<li>Details: 147 caravan sites, two large four-bedroom residences, manager’s office.</li>
<li>Income potential (gross): $1 million</li>
<li>Offers: 76 enquiries, 15 offers to purchase</li>
<li>Size: 40,100 square metres</li>
<li>Address: 186-202 Chinderah Bay Drive, Chinderah</li>
<li>Bought by: Sydney-based private fund</li>
</ul>
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Three caravan parks sold in Tweed Heads region

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Australian fashion label Gorman has taken up a nine year deal for leasing 135 Swanston Street, at the corner of Little Collins Street in Melbourne.
Fitzroys City Retail Team’s Charles Emmett and Michael Rainey were those behind the deal in the CBD.
The shop, covering 100 square metres, has a suggested rent from $3,500 to $5,000 per square metre based on similar sized opportunities along the strip.
Leasing executive for Fitzroys, Michael Rainey, said that it’s a watershed deal for Swanston Street, and expects it will attract quality fashion on this side of Melbourne.
However, the suggestion is that this isn't a standalone for the street.
“The deal follows Platypus opening nearby a month ago and there are now a number of quality fashion tenants circling 123 Swanston Street, which Fitzroys is currently leasing,” he said.
The new leasing opportunity is on the Western side of the street, and is near Politix, Virgin Mobile, Tesltra, Footlover, Uniglo, Quicksilver and Optus. It likely expects more rent, at 111 square metres and with a 96 square metre basement.
Last week Property Observer reported on <a href="/expert-insights/investing/fashion-houses-look-to-secure-base-level-spaces-in-melbourne-offices">a surge in fashion houses looking to rent spaces at the base of CBD office towers</a>.
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Aussie fashion label Gorman snaps up Swanston Street lease

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An off the market sale from Barney Dear of Ray White Commercial Perth saw a warehouse/showroom snapped up in the industrial suburb of Bayswater for $875,000.
At 10 Durham Street, Bayswater, the warehouse is 565 square metres, made of brick and concrete panel, on 1,214 square metres of land.
“We were engaged to sell the property in April of this year. Prior to taking the property to the market we identified a number of possible buyers on our database and notified them that we were listing the property for sale," said Dear.
“Following an inspection with one of the buyers, an offer was received and after a period of negotiation was accepted by the owners."
The sale occurred within five days of the property being listed for sale and saw the contract go unconditional a week later.
It will settle in July - the seller's preference.
Interested parties can look to lease the warehouse from early-July 2014, for $60,000 per annum plus GST and outgoings.
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