<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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Darwin’s median house price sat at $585,000 for the quarter to April, according to RP Data. 
Sitting just above the median price for all eight capital cities, the Northern Territory's capital was up 0.9% on RP Data-Rismark's Daily Home Value Index, and up 11.7% on a year to year basis. 
Property Observer looks at Darwin sales for the April quarter to see just what $585,000 will buy you in the city.
<ol>
<li>
<a href="https://www.realestate.com.au/property-house-nt-moil-115444931" target="_blank">3 TERMANSEN STREET, MOIL</a>  <img src="/images/2014/05/26/main%207.jpg" alt=""> Marketed as an “entertainer’s paradise” by Active Reality, this three bedroom home sold for $575,000 earlier this month. The 1977 build is tiled throughout. Set on 742 square metres, the property features multiple outdoor entertaining areas including a large veranda and undercover spa. The buyers can expect to pay $350 per year in council rates. Price: $575,000 Bedrooms: Three Drive to CBD: 16 minutes
</li>
<li>
<a href="https://www.realestate.com.au/property-house-nt-anula-115343803" target="_blank">12 DRIFFIELD STREET, ANULA <img src="/images/2014/05/26/2.jpg" alt=""> </a>
This four bedroom home was sold for $560,000, after the former owner went bankrupt. The property is located in the Northern Territory suburb of Anula, about 13 kilometres out from the CBD. The air conditioned home has floating timber boards through most of the house and a renovated bathroom. Council rates will set the new owners back $1,380 a year. 
Price: $560,000 Bedrooms: Four Drive to CBD: 15 minutes<a href="https://www.realestate.com.au/property-house-nt-anula-115343803" target="_blank" style="line-height: 1.3em;"> </a>
</li>
<li>
<a href="https://www.realestate.com.au/property-house-nt-malak-115938615" target="_blank">5 NEATE COURT, MALAK <img src="/images/2014/05/26/3.jpg" alt=""></a> A house with a downstairs granny flat in Malak sold for $580,000 after a little over three months on the market. Situated on the end of a cul-de-sac, the two level house includes a granny flat on the lower level, with its own separate split level living space. The 819 square metres of land also includes an in ground swimming pool. Price: $580,000 Bedrooms: Four Drive to CBD: 17 minutes
</li>
<li>
<a href="https://www.realestate.com.au/property-house-nt-leanyer-116036127" target="_blank">11 DOTTEREL COURT, LEANYER <img src="/images/2014/05/26/4.jpg" alt=""> </a>
This brick three bedder sold for $580,000. Set on 802 square metres, there is an in ground pool and covered outdoor entertaining area. Inside, the house is tiled throughout. Vendors purchased the home for $540,000 in 2010.
Price: $580,000 Bedrooms: Three Drive to CBD: 20 minutes
</li>
<li>
<a href="https://www.realestate.com.au/property-house-nt-jingili-115875451" target="_blank">4 SANDERS STREET, JINGILI  <img src="/images/2014/05/26/5.jpg" alt=""></a> 
Going for $575,000, this home was sold by Simon Watts of Central Real Estate Darwin, who also sold 11 Dotterrel Court. This raised home is unrenovated, with original tiles, carpeted floorings and light fittings throughout. The three bedroom house was built in 1977 and held by the vendors for almost 30 years. Set on an 817 square metre block, buyers will be paying approximately $1,600 per year in council rates.
Price: $575,000 Bedrooms: Three Drive to CBD: 15 minutes
</li>
</ol>
</body></html>

jrichardson-uRX5hFdKfN

What can you buy for Darwin’s median house price?

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The global financial crisis (GFC) caused many investors to re-think their strategies and while property investors managed to protect themselves more than others, property funds require specific attention.
AMP Capital’s Mark Ferguson head of Australian listed real estate and Christopher Davitt fund manager, wholesale Australian property fund, recently identified their three post-GFC lessons that all investors considering parking their money into a property fund can consider.
The hunt for income is as relentless as ever, they noted, recently evidenced by <a href="/expert-insights/finance/number-of-investment-property-loans-jumps-by-37-since-2010-roy-morgan">Roy Morgan’s stunning statistic of a recorded 37% uptick in investment property loans since 2010</a>, the current low interest rate environment and low bond yields, which contrasted with strong forecasts for Australian property, may cause this number to surge even higher.
<blockquote>
“Strong capital into the sector should translate into further price increases, which should support capital appreciation and grow future earnings over the long-term."
</blockquote>
In fact, they noted that they expect Australian property to continue providing strong, reliable income streams for investors, particularly as the appeal of property is based on the stability of income despite rises and falls in capital values.
The strength of rental agreements in maintaining yield is a very positive factor. "These are generally signed on a long-term basis, so the cash flow of rental income is 'locked in' for a predetermined period,” they explained.
"The housing story keeps improving on the back of lower interest rates and foreign investment,” they said, with <a href="/news/urban-taskforce-warns-against-xenophobic-review-of-chinese-investment-by-federal-government">foreign investment so strong it has now attracted official scrutiny</a>.
"Housing approval rates are up and capital-city auction clearance rates remain elevated despite high-profile company closures and job losses.
“Strong capital into the sector should translate into further price increases, which should support capital appreciation and grow future earnings over the long term."
They provided three investing tips, re-enforcing the concept that property requires a long-term investment outcome focus.
<ol>
<li>
Ensure you conduct research. Look into a property fund's track record and "stick to fund managers with an established reputation and sound history". 
</li>
<li>
Check that the gearing levels are not too high. As some property funds look to borrowing capital as a necessity to boost their potential investment returns, which is a technique known as gearing, it's worth remembering that it magnifies the potential for both gains and losses. Everyone's comfort with this differs, so ensure that the gearing levels are not too high for your risk profile. 
</li>
<li>
Understand underlying risks. Each fund holds different investments that contain a different amount of risk, and you must be aware of the underlying risks of the fund you are considering. Be "mindful that funds investing in a single asset carry more risk than those that invest in a portfolio of properties". They also suggested that investors be wary of properties with complex business models where there is a cross-collateralisation of debt.</li>
</ol>
In the long-term future, AMP Capital predicts direct property and Australian listed property to deliver robust income returns.
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jduke-EHk3XBmHkn

AMP Capital's three post-GFC property fund lessons

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Fearing that the property market will be used as a ‘rescue’ in the upcoming New South Wales state budget, the Real Estate Institute of New South Wales are warning the government to avoid the pressure of the federal budget to do so.
REINSW president Malcolm Gunning has urged Premier Mike Baird not to “follow the lead of previous governments who [have] used the property market to raise additional revenue” in a period where the market has shown recovery. He said that property shouldn’t be treated as a “cash cow” by the government.
“The property market is just showing signs of recovery and not all areas are enjoying growth. Property consumers and in particular first home buyers should not sit back and let this happen,” said Gunning.
He urged the state government not to increase land tax or stamp duty to plug budget holes.
In fact, some of his points closely match the <a href="/expert-insights/investing/the-reias-10-point-wishlist-for-the-federal-budget">10 point budget wish list submitted by the Real Estate Institute of Australia for the federal budget</a>.
Instead, a broadening of the GST tax base was suggested by Gunning.
“This should replace the revenue losses from the abolition of the discriminatory and inefficient state taxes,” he said.
<blockquote>
The REINSW urged the state government not to increase land tax or stamp duty to plug budget holes.
</blockquote>
“We have called on other state property institutes, associations and franchisors to voice their support for tax reform and we have already received backing,” he said.
“For too long the property market has been the state government’s cash cow and property consumers are now saying enough is enough.
New South Wales is expected to be $548 million over budget in transfer stamp duty collections for 2013/2014.
“Furthermore stamp duty rates have not been reviewed for 40 years. Bracket creep works in favour of government revenue and that is the reason it has not been reviewed. As a result of the failure to amend stamp duty rates, and the subsequent increase in property values over time, the average home is being taxed beyond that of which parliament initially intended,” he said.
“Change is long overdue and now is the time for Mr Baird to show he is a different sort of premier and remove these barriers to the property market and in particular provide support to first home buyers."
While Gunning suggested that pressure from the federal budget may encourage Baird to treat property in the manner of an additional revenue raiser, it may not indeed be the case that the federal budget has a significant effect on the property market’s strength.
Wakelin Property Advisory’s Richard Wakelin said that while the federal budget is a "horror budget", it’s unlikely to hinder the market.
“Although it may sound counter-intuitive, the sustainability of the property recovery will actually be helped by the response of consumers to the federal government’s austerity measures. It greatly reduces the likelihood of over-exuberance in the property market – which is already performing very strongly – and this subsequently transmitting into price inflation,” said Wakelin.
“It was the real threat of a resurgence in price inflation that was the greatest threat to the continuation of the property market’s recovery. Inflation had been stirring in recent months. Indeed it reached 2.9% in the March quarter, up from 2.2% six months earlier. If this trend persists it will inevitably force the Reserve Bank to raise the cash rate, possibly more than once.”
See over page for more 
 
<hr class="system-pagebreak">
Wakelin noted that it appears the RBA is confident in easing inflationary pressures, with wage restraint and the view that the property market is easing, and it has extended a period of stable interest rates.
“But observers of monetary policy will know that the Reserve Bank’s attitude can change in a relatively short time.  For instance, were the Australian Bureau of Statistics to report a spike in recorded inflation in July, when they next publish, then the pressure to raise interest rates could mount,” he said.
He noted that the treasurer’s efforts may have “done enough” to temper exuberant behaviour and shops and at auctions, but not to the extent of losing positive sentiment completely.
“So despite the broad criticism of the Treasurer’s first budget, ultimately, it is much less damaging to the economy – and the property market – that inflation is reined in by an austere fiscal policy rather than the Reserve Bank raising the cash rate – which is a very blunt instrument that often takes months to exert the desired effect,” he said.
Recently, <a href="/expert-insights/investing/how-does-the-budget-affect-property-investors">Josh Atherton answered the question ‘how will the budget affect property investors?’</a>, saying that there are some changes (or changes that didn’t appear) that many investors should be thankful for.
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Don’t treat property as a cash cow in state budget: REINSW

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By now it should be overwhelmingly clear - the government has no interest in housing affordability and they will not take any measure to lower land values. If the budget didn’t paint the picture, no doubt the forthcoming Senate inquiry into housing will.
‘The age of entitlement’ is not over – it has been protected at the expense of ‘the age of opportunity’.
The current administration has surgically set about reducing living standards of the poor, making cuts to heath, education, and employing harsh means testing measures which will fall most heavily on the old, young, unemployed  and a broad sector of low to middle income families with dependant children.  
They have done this to studiously protect the interests of the wealthy, refusing to lay a finger on the licensed resource monopolies, the mineral wealth of which increased more than $55 billion in 2012-13 alone.
Clawing back just a fraction of the tax exemptions granted on capital gains, or placing a levy per ton of exported minerals, would not only have gone a long way to covering the budget short fall, but would also have lifted the burden from the poorest onto the richest.  But in a political system where major parties sell themselves to the highest bidder (which as current ICAC investigations suggest happen to be property developers and large land holders), their failure to do so should come as no surprise.
It walks hand-in-hand with the diabolical decision by “Australia's premier real estate industry education and training provider”, AREC, to employ an <a href="/news/the-wolf-of-wall-street-jordan-belforts-upcoming-arec-2014-attendance-a-huge-backward-step">ex convict</a> who defrauded clients out of more than $200 million to educate real estate agents at the biggest industry training event of the year.  Despite <a href="/news/wolf-of-wall-streets-gold-coast-arec-2014-attendance-continues-to-provoke-debate">protests from various participants</a>, the event has <a href="https://www.rebonline.com.au/breaking-news/7652-arec-expected-to-sell-out" target="_blank">sold out</a> and clearly not prickled the conscience of the other speakers who are happy to stand alongside ‘The Wolf of Wall Street’, Jordan Belfort.
The above measures, along with Tony Abbott’s desire to be knighted the ‘infrastructure Prime Minister’ will drive investment into housing – albeit, of the speculative kind.
Infrastructure intensifies the use and demand for residential land as the population grows and no doubt, we need more of it. However, it also has the effect of rising land values, which taken alone, should be a ‘good’ thing for our country (or at least it would be, <a href="/expert-insights/investing/who-is-really-benefiting-from-the-property-cycle-and-at-what-cost">if those gains truly benefitted the community</a>).
Instead those gains will be pocketed, leaving the government to scrape future funding from elsewhere.
Land cannot be reproduced because it cannot be moved; it’s fixed in supply, dependent on the employment sectors and community facilities that surround it.
All of the above raises cost of accommodation yet does little to address the needs of future generations, who, if they’re not lucky enough to inherit the goods, must take on an ever greater proportion of private debt to join in.
This widens the wealth gap between the land owning rich and income poor as the government leans back and lectures welfare recipients that “the world doesn’t owe them a living”.
The government has it within their power to move toward an economy that rewards productivity, reduces unwanted speculation, increases wages, encourages timely construction and the effective utilisation of land, promotes decentralisation into regional areas, keeps the cost of shelter affordable for young buyers, lowers rents for tenants, and levels the playing field between non-owners and owners.
Yet they won’t because their agenda is to protect their own private interests and that of the wealthy, above that of the community.
This means land will only developed for profit, timed to capture the upward wave of a cycle, rather than developed to meet the immediate needs of the home buyer and does little to deter <a href="/expert-insights/building/residential-developers-landbanking-denial">the wasteful process of land banking</a>.
The government, however, is not interested in genuine reform. Instead, they favour laws that give certain classes of people artificial advantages over others whilst having the conceited arrogance to advise it’s all in the ‘national interest’.
What does this mean for the property investor?  Well for the time being, the system will fall in their favour.  Interest rates will remain low, they will not rise, and the government will not intervene.
Over the long-term however, we will not escape the consequences of the government’s actions. Wage growth only increased 2.6% in the past year, a rate below the consumer price index and the weakest since records began. We are in effect going backwards, not forwards – and the economy will suffer as a result.
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catherinecashmore-6LXia3pPQj

The government's protection of the wealthy is bad news for the average property investor

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On Saturday arvo, in a small but significant landmark for Australia, with the population increasing by one person approximately every 77 seconds, the <a href="https://www.abs.gov.au/ausstats/abs@.nsf/0/1647509ef7e25faaca2568a900154b63?OpenDocument" target="_blank">Aussie population clock</a> will quietly tick past 23,500,000.
Property investors tend to keep an eye on this kind of stuff because population growth and demographic shifts are vitally important to how we are developing as a nation.
While there may be no direct link between the growth in a population and property prices per se, over the long run it is crucial to understand how demographics are shifting.
And, more than that, whether the population is growing or not makes all the difference to city housing markets. 
Where populations are static or falling, this comes with an inherent risk of protracted declines in price, such <a href="https://petewargent.blogspot.com.au/2014/03/population" target="_blank">as experienced in certain other parts</a> of the world. 
Australia is growing its population at a very sharp pace, so these little landmarks tend to sneak up on us, and it is important that the building of infrastructure and jobs growth keep pace with the net migration and natural population increase:
<div class="separator"><a href="https://3.bp.blogspot.com/-lBnSx4QYUMI/U30u9-I_pEI/AAAAAAAANT0/5gHQkRldrBw/s1600/1AUSPOP.jpg"><img src="https://3.bp.blogspot.com/-lBnSx4QYUMI/U30u9-I_pEI/AAAAAAAANT0/5gHQkRldrBw/s1600/1AUSPOP.jpg"></a></div>
Steady states?
As I tend to look at periodically, the population growth in Australia is a combination of natural increase and net migration, and, as you might expect, it does not occur evenly across the country.
Over the long run, in particular, four states have been growing their populations at quite a bounding pace.
<blockquote>
While there may be no direct link between the growth in a population and property prices per se, over the long run it is crucial to understand how demographics are shifting.
</blockquote>
Since 1981 for example, New South Wales has increased its population from 5.2 million to above 7.4 million - a colossal increase - while Victoria is not far behind, having raced from below 4 million to above 5.75 million.
Queensland and Western Australia have also shown very strong population growth as you can see in the chart below, which details the make-up of Australia's population by state over the long haul.
On the other hand, even over the very long term South Australia has added relatively few persons to its population, increasing from a bit above 1.3 million to less than 1.7 million, a total increase of only around 350,000.
The other states are minnows by comparison, although artificial and geographical supply constraints in Canberra and Darwin have seen dwelling prices rise sharply in some cases:
<div class="separator"><a href="https://1.bp.blogspot.com/-yXscaSymvI8/U30ynG7_5LI/AAAAAAAANUI/yDxe_Q8QA9Y/s1600/1ad.jpg"><img src="https://1.bp.blogspot.com/-yXscaSymvI8/U30ynG7_5LI/AAAAAAAANUI/yDxe_Q8QA9Y/s1600/1ad.jpg"></a></div>
It was interesting to read <a href="https://www.propertyinvesting.com/migrant-housing-boom/?inf_contact_key=75f31db15d3c07ca9061d559a6def26c35b22d8413be84f391a07f6ad4f2159f" target="_blank">in an article this week</a>, Steve McKnight offering the following advice:
"The generic growth gives investors a blueprint of where to target, namely Melbourne, Sydney, Perth and Brisbane in that order, and where not to, namely: Tasmania, NT, ACT and SA (in that order)." 
The total population growth figures released by the ABS tend to reveal similar trends each quarter:
<div class="separator"><a href="https://3.bp.blogspot.com/-jsqw07wUCLQ/U30u90eFUiI/AAAAAAAANTw/CLVk6o8GUic/s1600/1PGBS.jpg"><img src="https://3.bp.blogspot.com/-jsqw07wUCLQ/U30u90eFUiI/AAAAAAAANTw/CLVk6o8GUic/s1600/1PGBS.jpg"></a></div>
McKnight believes that because the state of Victoria has the highest total population growth Melbourne is the best city to invest in.
Property price movements are not only about demand of course, you have to consider supply too.
Personally, I prefer Sydney because of its geographical constraints; the city can't readily spread due to the respective surrounding mountains, national parks and the ocean.
As an obvious aside, while it's good to see a city with very strong population growth, we don't look for suburbs with the highest density of population.
Not at all in fact - we look for prime location suburbs where the population is all but fixed due to a necessary lack of new supply, where there are height restrictions on new building.
In Sydney, for example, we've recently been buying in some of the lower north shore suburbs where the population growth within the individual suburbs from Census to Census has been all but negligible. Fully built out and height restrictions on new development. 
There are other factors to consider too, of course, including relative affordability.
Trees surely don't grow to the sky, so at various points in the cycle investors will consider Brisbane and Perth too.
The other states have feeble population growth, and generally speaking, therefore might be considered riskier propositions.
You can visit <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) or Pete's <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blog</a>.
His new book '<a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>' is out now.
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pwargent-M4siyDbqQY

Australia's population hits new high, but where is the growth occurring?

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GUEST OBSERVATION
No doubt this is one of the toughest federal government budgets we have seen in a long time. It would appear that the Liberal government have been true to their calling and were happy to make sacrifices across the economy in order to balance the books at some point in the future. 
But just how does this budget affect property investors?
Well it’s with relief that no changes have been made to capital gains tax, depreciation or negative gearing. Now, I'm not a fan of negative gearing all that often, the purpose of investing in anything is to achieve good growth and income for the future.
However, I do like the little incentive us property investors are given when it comes to the all to controversial depreciation. Absolutely I'm biased. I benefit from depreciation so I'm not going to argue it shouldn't be in place.
Ultimately, I think it is a great way for the everyday Australian without a business to take advantage of some form of taxation benefit that the big guys get all the time. Currently $6 billion dollars a year is lost in tax revenue due to negative gearing.
However there was one sector in the property industry that got dealt the wooden spoon, and that’s the NRAS scheme. <a href="/expert-insights/finance/is-this-the-end-of-nras-frozen-fifth-round-of-applications">Round 5 of the National Rental Affordability Scheme will be frozen</a> pending a review. In my opinion this is a good move as it was lining the pockets of savvy developers and good property marketers while the everyday investor lined up to buy overpriced property to simply get some money from the government. Now I know there’s a lot more to it than that, however the scheme has been flawed in many ways. 
The property industries push for ASIC regulation of the industry is seemingly unlikely in the near future as large budget cuts to the ASIC budget are handed down forcing large scale job cuts within the organisation. It doesn't look promising that the team at ASIC will want to take on more work with less staff and money. 
Home owners or investors are generally a pretty small deal when it comes to federal budgets. It’s often the state budgets that can make big differences including stamp duty concessions and rates plus the ever tinkering of first home buyers grants. 
Outside of investing, first home buyers taking advantage of the Labor government's First Home Savers Account (FHSA) <a href="/expert-insights/investing/first-home-saver-accounts-scrapped-what-now">will no longer be able to get tax breaks and co-contributions</a> as the scheme will be closed starting 1 July.
I think if anything, this budget should send a reminder to Australians of why investing in assets (not just property) is a necessity to gain financial freedom and retirement when you want it. With the pension age pushed out even further, serious holes in the future funding for pensioners, its clear we need to invest.
JOSH ATHERTON is managing director of <a href="https://www.linkedin.com/profile/view?id=123928559&amp;locale=en_US&amp;trk=tyah" target="_blank">Portfolio Property Investments</a>.
You can connect with Josh on <a href="https://www.linkedin.com/profile/view?id=123928559&amp;locale=en_US&amp;trk=tyah" target="_blank">LinkedIn</a>.
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jatherton-AZUXX8vQA7

How does the budget affect property investors?

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GUEST OBSERVATION
The past thirty years have seen the demise of the expectation of a job for life. We've seen traditional career paths of apprenticeship, journeyman and master craftsman largely disappear, not just in the trades but also in professions like engineering and government policy analysis. Waves of redundancies have hollowed out the middle layers of many organisations, leaving incumbents in key roles often lacking the depth of experience needed to make wise decisions. 
Demographic changes are one of the <a href="https://www.colliers.com.au/sitecore/content/Global/News/2014/January/7_Forces_Transforming_Your_Office.aspx">seven forces</a> affecting corporate property decision-making. There are of course many dimensions to this, including increased labour force participation by women and a broader ethnic mix in many organisations than we've seen previously. But one of the things that is particularly interesting is the composition of the workforce by age. Traditionally the population pyramid, which is a graphical depiction of the number of people of each age group split by gender, has been fairly, well, pyramidal. That is to say, plenty of younger people and relatively few older folks. 
What's happening is that it's starting to become a population rectangle and is generally getting taller as more people live into a ripe old age and family sizes decrease. This <a href="https://www.abs.gov.au/websitedbs/d3310114.nsf/home/Population%20Pyramid%20-%20Australia" target="_blank">link</a> takes you to the Australian Bureau of Statistics' animated population pyramid, where you can see how the shape changes over time.
Throw together the lingering effects of the global financial crisis (GFC) with a bit of "generational studies", there are some interesting implications for workplace planners:
Baby Boomers have abandoned early retirement dreams - A sad fact of the GFC is that many people have had to defer their retirement plans and remain in or return to the workforce. Many of the so-called baby boomers (people born immediately after WW2, who are now aged up to 70) are seeking part time work to top up their retirement income sources. Notwithstanding the fact that longer life expectancies are forcing people to re-evaluate the level of savings they need at retirement. In some cases people are preferring to continue working at least part time simply to keep themselves physically, mentally and socially active given the expectation of a longer period of retirement. 
Generation X battling to buy into the property market - Generation X (people from their early 30s to late 40s) are in the middle of raising families. Given housing (un)affordability or by choice, many X-ers are in double income families, but often at least one member seeks to work part time to make juggling family commitments a little easier.
Generation Y job-hopping and chasing online start-ups - As Generation Y's numbers in the workforce continue to swell over the next few years as they complete their education, they will become the dominant age group at work. While noted for their upwardly mobile job hopping ways (unsurprising given they are the first generation to enter a workforce with no notion of job security), we expect that as they hit their thirties they will start to moderate their expectations of their employers as they encumber themselves with children and/or mortgages. Nevertheless, some will continue to pursue multiple jobs: the office job for income to supplement their web business or hobby job until it takes off.
Meanwhile the Millennials, who will be joining the workforce before this decade's end, are growing up in a world of iGadgets and social media and will be occupying the offices you are fitting out today.
This article continues on the next page. Please click below.
<hr class="system-pagebreak">
Here are three ways to leverage your workplace to help bridge the generation gap:
1. Support multiple generations with a mix of work settings
How do you cope with up to four generations working under the same roof? At one end of the spectrum the Millennials are likely to want something that is contemporary and open, giving them good access to management, cutting edge technology and a sense of personal control over when, where and how they do their work. At the other end of the spectrum is a generation that is perhaps least accustomed to open plan environments and may seek the solace of an enclosed office.
Across all generations we see  distraction avoidance as a key requirement, though some individuals are more adept at dealing with this than others. While some advocate a set of ear buds and a good music collection, listening to music can potentially introduce more distraction and reduce cognition, impacting productivity except for mundane repetitive activities. Quiet rooms for individual use and so-called "library" spaces where groups of people can work quietly and phone calls are banned are becoming more common. The success of such environments depends on an appropriate mobile technology solution and managerial permission for staff to move about the office and select an environment that meets their needs (including off premises options).
2. Hot desk to create space for part time and part remote workers
Even an open plan workstation is a relatively expensive overhead, generally costing a CBD based corporate in the order of A$10,000 - A$18,000 per annum in rent, fit out depreciation and operating costs. Economically (with the <a href="https://www.colliers.com.au/sitecore/content/Global/News/2014/February/A_flash_new_office.aspx" target="_blank">new world economic order</a> in mind) it makes sense to optimise utilisation by imposing some form of desk sharing regime for all those part timers. It's an approach being adopted at a growing number of workplaces as we've seen in <a href="https://www.colliers.com.au/sitecore/content/Global/News/2013/September/How_to_cut_accommodation_costs_by_20_per_cent.aspx">other posts</a>.  Organisations must be careful when introducing desk-sharing regimes. <a href="https://www.colliers.com.au/sitecore/content/Global/News/2013/October/The_office_moves_that_scare_staff_away.aspx" target="_blank">Our experience</a> is that staff are more likely to accept workplace changes that take something away (such as an office entitlement) if something else is given back. Given the property, fit out and churn savings derived from largely or completely eliminating enclosed offices, it should be possible to channel a benefit back to the affected staff, in the form of an expanded potential bonus pool if nothing else. Effective communication of this balance is critical, which is why workplace projects need great change managers.  Before we leave this topic I'll point out that there are several pitfalls with staff working part time (and even full timers who work remotely some of the time). The first is that many part timers target at least three days per week, therefore limiting opportunities for desk sharing due to the overlap. Another is that the opportunities for team interaction and collaboration may diminish and/or demand for meeting spaces peaks on the overlap days (and indeed we typically find midweek mornings to be the most popular time for meetings). In some cases the use of mobile technologies can overcome such issues. Nevertheless, as talented employees seek work/life balance more employers are needing to gear up to accommodate this change.
3. Mentoring the trick to keeping younger employees engaged
A problem with older fit outs is that they do not facilitate the mentoring opportunities younger staff crave. However, an issue in some cultures is the sense of entitlement that mature staff may feel towards an enclosed office, particularly if promotions or longevity have traditionally been rewarded with the proverbial "nice piece of carpet". But as more people remain in the workforce past the traditional retirement age, there won't be enough senior management positions to go round. In any case (and partly due to the loss of traditional apprenticeship based career paths), there's a fantastic and desperately needed opportunity for mature, long term staff to mentor younger workers, which is not easily achieved from an individual office.  As can be seen, walking the tight rope between each demographic group's expectations while maintaining fiscal prudence is difficult. The compromise solution may be some form of activity-based or agile workplace strategy, but perhaps without going to the extreme of forcing people to find a new seat every day.
David McEwen is a management consultant working at the intersection of workplace strategy, sustainability and technology with <a href="https://www.colliers.com.au/%E2%80%8E" target="_parent" rel="nofollow">Colliers International</a>.
You can connect with David on <a href="https://www.linkedin.com/profile/view?id=9321351&amp;locale=en_US&amp;trk=tyah&amp;trkInfo=tas%3Adavid" target="_blank">LinkedIn</a>.
This article first appeared on <a href="https://www.colliers.com.au/News.aspx" target="_blank">Colliers International News</a>.
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dmcewan-RAeaafS4AZ

Three ways to leverage your workplace to help bridge the generation gap

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At New South Wales Parliament House last week, premier Mike Baird addressed a crowd of prospective investors and interested parties about Wollongong, at Advantage Wollongong.
Noting that the Illawarra region, and Wollongong specifically, is "open for business" key spokespeople, such as Minister for the Illawarra John Ajaka and Wollongong Lord Mayor Gordon Bradbery took to the podium to launch the Wollongong Investor Prospectus.
Plans to make it a "mini Melbourne" were discussed prior to the speeches, with one spokesperson telling Property Observer that the idea is to bring in small laneways and to revitalise the ground level retail. This should go some way to diversifying the area's economy.
Part of the ongoing issue for the region has been retaining their skilled young professionals when they graduate. The University of Wollongong and, most notably, their innovation campus are hoping to help with increasing the retention rate by encouraging startups, particularly in the IT sector. Providing a place for startups to surge, for creativity and for seed funding, they hope that this will keep young entrepreneurs in the region through the iAccelerate project.
The iAccelerate project opened in March this year in the innovation centre, as the iAccelerate Hub is built.
Another focus for Wollongong is keeping employment in the area - part of the push behind encouraging businesses to relocate. The investor prospectus calls it "Australia's most connected regional city" and notes that 25%, or 20,000 people, still commute to Sydney.
So what is the "advantage" in Advantage Wollongong?
The prospectus reveals that there are four aspects considered an 'advantage' if you're looking to invest in Wollongong.
1) Globally connected
One hour south of Sydney, "the nation's largest and most dynamic economy".
Digitally wired with the National Broadband Network being rolled out in Wollongong.
A tier 3 data centre has been established in the area by Metronode.
2) Superb liveability
It has a coastal lifestyle, with 17 patrolled beaches and a bushland backdrop, as well as recreational activities, retail faciltiies and restaurants.
Affordable housing is available with apartments, executive residences, coastal villages, family homes and leafy acreages.
Residents usually commute minimally to the city, with less congestion than Sydney.
Connect to Sydney Trains network, servicing those who commute to Sydney. Health infrastructure, schools and the university are also in place.
3) City of innovation
The University of Wollongong is "helping drive Wollongong's reputation as the City of Innovation" with almost 6,000 graduates each year.
The new Innovation Campus offers commercial organisations the ability to work with world-class research teams.
iAccelerate - an initiative from the university, will help "fast track the development and graduation of sustainable and scalable businesses into the region".
4) Supportive business environment
Competitive business costs.
Strong business networks providing support and strength for members.
City Centre is undergoing a revitalisation with over $700 million worth of construction underway or completed.
Large skilled and multilingual workforce, with a steady stream of graduates.
Diverse economy with national and international corporations part of the business landscape.
Would you invest in Wollongong?
Image courtesy of Richard Taylor/Flickr.
Photo has been updated since publication. 
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Wollongong is "open for business" and they want you to invest

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Brighton’s retail sites are seeing significant interest, with one retail freehold site seeing eight bidders fight it out.
The site, 20 Church Street, <a href="/news">Brighton</a> was sold through Fitzroys senior associate Mark Talbot for $2.83 million – 25% over the reserve price and a sale yield of 3.1%.
Talbot said that the area has one of the lowest vacancy rates in Melbourne.
Previously owned by the Steele family, and located next to the Westpac Bank and recently refurbished Safeway Supermarket, the property is on 187 square metres of land with a five metre frontage.
Prospective buyers from both overseas and interstate expressed interest – finally selling to a local family.
It includes a ground floor café and first floor apartment that is separate, both leased for five years to Chloe’s Café. It returns $90,669 per annum plus outgoings and GST with 4% annual rent increases.
“The property’s location nearby tenants such as Sportsgirl, Lorna Jane, Kookai, Gazman and Decjuba certainly increases the confidence level of buyers, who can be assured that finding a replacement tenant in the future should be straight forward,” said Talbot.
“A development site in Caulfield of 867 square metres and 90 Church Street have been the stand outs, with prices achieved approximately 25% above reserve,” he said of strong sales in the local area.
Property Observer has previously reported that the retail strip is garnering <a href="/expert-insights/investing/national-retailers-drawn-to-church-street-brighton">significant interest from national retailers</a>. 
Last month a 127 square metres Church Street shop <a href="/expert-insights/investing/church-street-brighton-shop-sells-for-1-3-million-at-auction">sold for $1.3 million at auction</a>.
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Fierce bidding for Brighton’s Church Street retail sites

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Wood Group PSN are leasing approximately 6,800 square metres of office space at 171 Collins Street, Melbourne, later this year. Charter Hall and Cbus Property have had a 50:50 split in the joint venture project since March 2010.off
The building will also see McGrathNicol lease 1,666 square metres on level six and Vic Super Pty Ltd leasing 2,750 square metres over level nine and eight.
Since May 2013, more than 11,000 square metres have been leased in the building. Currently, just one floor and three small suites are available.
The leasing agents for the building are Colliers International and Knight Frank.
Property Observer was <a href="/news/vic/highrises-and-high-fashion-171-collins-street">previously toured through the building.</a>
Charter Hall Office Trust fund manager, Craig Newman, said that they are pleased with the high quality of the tenants attracted to the building.
“Following the recent leasing activity 90% of the leasable space is committed at 171 Collins Street. Tenants are attracted by a Collins Street address, with the Paris end remaining highly sought after by corporates, along with the high quality office accommodation and service offering, integrated energy and water efficiency technologies as well as featuring market leading end of trip facilities,” said Newman.
Also in the building are BHP Billiton, Egon Zehnder and Evans &amp; Partners.
The building also houses Dolce &amp; Gabbana, and new restaurant Super Normal – the brain child of Andrew McConnell.
Dolce &amp; Gabbana settled on the site after <a href="/news/vic/dolce-and-gabbana-open-in-melbourne-after-a-five-year-hunt">a five year hunt for the most appropriate address in Melbourne</a>.
Cbus property CEO Adrian Pozzo said that the building is an iconic address, being the first PCA Premium Grade 6 Star office building in the past 20 years in Victoria, and has a 5 star NABERS Energy rating.
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