A collection of just 25 large-format apartments and penthouses overlooking Goodwin Park is entering the Coolangatta market, with <a href="https://www.apartments.com.au/new-apartments/marea-residences-coolangatta-27-27a-dixon-street-coolangatta-qld-4225">Maréa Residences</a> combining a low-density, residential-only approach with uninterrupted park and Pacific Ocean outlooks.

Located at 27 Dixon Street, Maréa comprises three and four-bedroom residences alongside a limited number of dual-level penthouses, with the project positioned between Goodwin Park and <a href="https://www.apartments.com.au/developments/coolangatta-qld-4225">Coolangatta</a>’s coastal precinct.

Construction has commenced, with completion currently estimated for late 2027. Three-bedroom residences are priced from $1.8 million.

[smartcode_project:default project_id=150999 project_image_fid=374005]

The project has been designed around its northern outlook across the park, with the building’s architecture, landscaping and material palette intended to establish a connection with the neighbouring green space. The residences have been configured to maximise natural light and views across Goodwin Park towards the ocean.

Inside, the material palette incorporates timber, stone and brushed brass, complemented by curved detailing and ambient lighting. Kitchens and bathrooms carry the same natural material approach, while residences also include basement parking, storage and lift access.

Maréa’s penthouses are arranged over two levels and include private pools, adding another layer to the project’s focus on larger-format apartment living. Across the development, residences are configured with three or four bedrooms rather than the broader mix of smaller apartment types commonly found in larger projects.

[smartcode_project:default project_id=150999 project_image_fid=374010]

Resident amenity is concentrated at rooftop level, where landscaped entertaining terraces and pools take advantage of elevated views across Coolangatta and the Pacific Ocean.

The project has so far been particularly well received by local owner-occupiers and downsizers, according to Urban Activation Property Sales and Marketing Director Matt George, with the residential-only format, construction quality and northern park outlook among the features resonating with purchasers.

“The uninterrupted northern aspect overlooking Goodwin Park has been a key point of difference, with buyers attracted to the sense of serenity and open space the park provides, while still enjoying easy access to the ocean and being within walking distance of the lifestyle and amenities Coolangatta has to offer,” George said.

[smartcode_project:default project_id=150999 project_image_fid=374002]

“The combination of high-quality construction, a residential-only building, park outlook and proximity to the beach has resonated strongly with the local downsizer market.”

The Dixon Street address is within walking distance of Coolangatta Beach and the broader southern Gold Coast coastline, including the surf breaks at Snapper Rocks and Kirra. Coolangatta’s cafés, restaurants and retail are nearby, while Gold Coast Airport is also within close proximity.

[smartcode_project_cta:default project_id=150999]

Joel Robinson

Maréa Residences brings parkside apartments to Coolangatta

Melbourne developer PDG has secured Victorian Government approval for its $1.5 billion Southbank development <a href="https://www.apartments.com.au/new-apartments/the-one-1-queens-bridge-street-southbank-vic-3006">The One</a>, clearing the way for the long-dormant riverfront site opposite Crown to finally be developed.

The Minister for Planning has approved the project at 1-29 Queens Bridge Street, with the Department of Transport and Planning issuing the planning permit following its assessment.

The approval will allow PDG to develop the prominent 5,059 sqm site with a major mixed-use tower comprising premium apartments, including branded residences, a luxury hotel and boutique office space.

PDG acquired the site in late 2024, with its position directly opposite Crown's main entrance and near Melbourne's Arts Precinct making it one of Southbank's most significant remaining development opportunities.

<img alt="PDG" data-entity-type="file" data-entity-uuid="3933013e-6332-4386-b9be-089df05caf17" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.22%E2%80%AFAM.png?VersionId=sITIgBqDL0N3VNSMwWEmF5UA.uvcsRyu" />

Designed by COX in collaboration with ODO and PDG, the tower's architecture draws on the movement of the Yarra River, with six vertical pleats running the height of the sculpted facade.

The project will also see the heritage-listed Queens Bridge Hotel restored and incorporated into the development&nbsp;with new hospitality and public uses, including a rooftop venue.

A significant component of The One will be its residential amenity.

More than 5,000 sqm of resident facilities will be delivered across a single level, making it one of the largest consolidated residential amenity offerings proposed in an Australian apartment development.

The planning approval also incorporates a major upgrade of Queensbridge Square, which PDG will deliver in partnership with the City of Melbourne.

<img alt="PDG" data-entity-type="file" data-entity-uuid="73167fcd-1031-4b6f-a408-a064cfe45ed1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.17%E2%80%AFAM.png?VersionId=Pf1AEWxw6SNmBqR0zQW5lyEze.MtxgFp" />

The existing square will be revitalised as a new civic and pedestrian space along the Yarra River, strengthening the connection between the project, Southbank and the riverfront.

PDG Founder and Managing Director Vince Giuliano said the approval represented a major milestone for a site which has remained largely underutilised for more than 15 years.

“This is the most significant Planning Permit approval Melbourne has seen in recent years,” Giuliano said.

“For more than 15 years, this site has remained underutilised. This approval enables us to deliver a project that will contribute meaningfully to the revitalisation of Southbank, restore and reactivate an important heritage building, and create a new civic and hospitality destination for Melbourne.”

The latest approval follows an earlier planning permit issued by the City of Melbourne covering demolition works across part of the site at 9-29 Queens Bridge Street. Those demolition and early works are already underway.

PDG has also started generating early interest in the residential component from owner-occupiers ahead of a planned public launch in early 2027.

PDG secures approval for $1.5bn Southbank apartment development, The One

Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

First look: Harridan plans Burke Street transformation beside Boggo Road transport hub

IN BRIEF

<ul>
	<li>
	Just three double-storey Sky Homes sit at the top of The Waterline, each with its own private marina berth and rooftop terrace.
	</li>
	<li>
	Construction on The Waterline is complete, with the first residents expected to move in from mid-October.
	</li>
	<li>
	Sky Homes range from 282 sqm to 367 sqm and are priced from $3.65 million.
	</li>
</ul>

<hr />
Lewis Land has opened the first completed sky home for inspection at Harbour Shores, giving buyers their first opportunity to step inside one of just three double-storey residences crowning The Waterline.

Each sky home comes with its own private marina berth, rooftop terrace and Broadwater views, combining the scale of a larger home with direct access to the boating lifestyle that underpins the wider <a href="https://www.apartments.com.au/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters-qld-4216">Harbour Shores</a> masterplan.

[smartcode_project:default project_id=113271 project_image_fid=366708]

Lewis Land Head of Development Michael Long said the inclusion of a berth with every Sky Home had become increasingly valuable as marina access across the Gold Coast tightened.

“Marina berths are becoming increasingly difficult to secure across the Gold Coast, so including one with every Sky Home makes this a genuinely rare offering,” Long said.

“The private 70-berth marina will accommodate boats up to 12 metres in length and is positioned just 2.5 kilometres from the Broadwater, placing the open ocean only 15 minutes away.

“Being able to step out of your home onto your boat is a rare luxury, and it’s something residents here can look forward to when it opens later this year.”

[smartcode_project:default project_id=113271 project_image_fid=366709]

The display opening comes as construction completes on The Waterline, with the first residents expected to move in from mid-October.

The three Sky Homes range from 282 sqm to 367 sqm and each feature three bedrooms, three bathrooms, multiple living zones, expansive kitchens with butler's pantries and large balconies taking in the Broadwater outlook.

Each residence also has three secure basement car spaces and additional storage.

“This is the first opportunity the Gold Coast has had to step into Harbour Shores and see, touch and feel what we’re bringing to life here,” Long said.

“There are only three Sky Homes within The Waterline, ranging in size from 282sqm to 367sqm, with each residence featuring three large bedrooms, three bathrooms, multiple living zones, expansive custom-built kitchens with butler’s pantry, and large balconies capturing Broadwater views.”

<img alt="Harbour Shores" data-entity-type="file" data-entity-uuid="bab65e10-4fab-45e1-92d8-fc56e2ab98ff" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%202.00.16%E2%80%AFPM.png?VersionId=XT8q76LsPkw3cYTsvN3JfFDaPLud90PN" />

Residents of The Waterline will have access to a private pool, along with Harbour Shores' wider collection of amenity including a lagoon pool, social clubhouse, tennis court, gym, yoga facilities and sauna.

Lewis Land partnered with Studio Collective to furnish the completed display, with the interiors designed to demonstrate how the residences could function as permanent homes rather than simply as show apartments.

Studio Collective Director Melissa Park said the surrounding waterways informed the interiors, but in a more restrained way than a traditional coastal scheme.

“We drew inspiration from the canals and coastal surrounds, but our approach was to interpret that subtly through layered materials and a grounded palette of earthy tones, rather than literal coastal references,” Park said.

“We introduced hero moments of green and teal to reference the surrounding waterways, while mirrored elements help reflect natural light.

“The result is a residence that feels elevated yet comfortable, somewhere buyers can genuinely imagine themselves living, entertaining and unwinding.”

Sky Homes are priced from $3.65 million.

Lewis Land is also offering private marina berths with The Residences, its limited collection of three and four-bedroom villas positioned directly along the Harbour Shores waterfront boardwalk.

Three-bedroom villas are priced from $2.99 million, while four-bedroom residences start from $3.19 million.

Harbour Shores is being marketed by Colliers International.

[smartcode_project_cta:default project_id=113271]

Lewis Land opens sky home display as The Waterline completes at Harbour Shores

St Vincent de Paul Society Housing Australia has filed plans for a major mixed-use housing precinct on the southern edge of the North Sydney CBD, adding another significant proposal to a pocket around North Sydn​ey Station that is quickly becoming one of the LGA's busiest development zones.

The State Significant Development Application covers a 5,990 sqm site at <a href="https://www.apartments.com.au/new-apartments/1-19-mackenzie-street-lavender-bay-nsw-2060">1-19 MacKenzie Street and 211 Blues Point Road in Lavender Bay</a>, immediately south of Nor​th Sydney Station and between the commercial core and the lower-rise Lavender Bay Heritage Conservation Area.

Designed by Wardle, the proposal would deliver a new residential tower comprising 88 build-to-sell apartments and 19 affordable apartments, alongside a separate co-living building with 57 rooms and a building manager's studio.

It would also see the significant restoration and upgrade of St Francis Xavier Catholic Church, the adaptive reuse of the former school building, new parish facilities, retail, a new public square and around 1,000 sqm of publicly accessible open space.

<img alt="Vinnies North Sydney" data-entity-type="file" data-entity-uuid="d5dd7f87-a617-463e-b577-17541e01f0e9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.13%E2%80%AFAM.png?VersionId=4R8TsFN3P_LrrXO2HswTOIrx2blil8lh" />

The project is seeking a concurrent rezoning of the site to R4 High Density Residential and an increase in the maximum building height to allow a tower reaching RL120, or up to 20 storeys. The proposal was progressed through the NSW Government's Housing Delivery Authority pathway.

The build-to-sell component will be weighted toward larger apartments, with just six one-bedroom apartments compared with 31 two-beds, 43 three-beds and eight four-bedroom residences.

The 19 affordable apartments will comprise two studios, 15 one-bedroom apartments and two two-bedroom apartments, taking the total apartment component to 107 residences before the 58 co-living rooms are included.

<img alt="Vnnies" data-entity-type="file" data-entity-uuid="7d568ca5-cb90-4e18-96c6-d9795dba0c56" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.05%E2%80%AFAM.png?VersionId=GY2R5M9VtQh0EKy1vajaea19PSLOPuRD" />

Wardle's design for the Vinnies site has sought to negotiate that emerging high-rise context while retaining the lower-scale character of MacKenzie Street and the adjoining heritage conservation area.

The main building adopts a three-storey podium and tower arrangement, with the podium aligned to the ridgeline and front setback of St Francis Xavier Church.&nbsp;Wardle has designed the podium with colonnades, seating, recessed entries and active ground-floor frontages, with sandstone-toned precast concrete and face brick referencing the materiality of the existing church.

The tower then steps back eight metres to the south and six metres to the north before rising in a sculpted form comprising four interlocking quadrants. Wardle has also introduced rounded forms and chamfered corners to reduce the tower's perceived bulk and improve view sharing with neighbouring development sites.

Resident facilities and outdoor areas are planned at the separation between the podium and tower at Level 3, oriented toward Sydney Harbour and the CBD skyline.

The tower itself will feature a glass reinforced concrete facade, with recessed balconies and deep reveals used both to provide shading and privacy and frame views toward the harbour and city. The lower levels take a different architectural approach, using brick and sandstone-toned finishes intended to establish a stronger relationship with St Francis Xavier Church. The Church itself will be conserved and upgraded for its continued use, while the former school building will be adaptively reused as part of the co-living component.

<img alt="Lavendar Bay" data-entity-type="file" data-entity-uuid="2d4418ad-90aa-4d49-af93-c80b140aea80" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.09.47%E2%80%AFAM.png?VersionId=Kv4gzbsACaGvZSRuaqcfGC54jEJRXIDJ" />

&nbsp;

The proposal adds to an increasingly concentrated pipeline of residential development around Blue Street, MacKenzie Street and Lavender Bay.

Just west of the site, Central Element lodged plans earlier this year for one of the most significant residential developments proposed in Lavender Bay in recent years.

Central Element's SJB-designed scheme at 64-66 Lavender Street and 3-7 Middlemiss Street would deliver 163 apartments across two towers rising 23 and 32 storeys, replacing five existing apartment buildings containing 32 homes. The project also forms part of the Housing Delivery Authority pathway.

<a href="https://www.apartments.com.au/news/nsw/first-look-central-element-reveals-lavender-bay-apartment-plans?utm_source=chatgpt.com" rel="noopener" target="_blank">First look: Central Element reveals Lavender Bay apartment plans</a>

Immediately around North Sy​dney Station, another two significant proposals have emerged at 5 and 15 Blue Street.

Zurich Australian Insurance Properties is seeking to adaptively reuse its longstanding commercial building at 5 Blue Street, directly above North Sydney Station, rather than demolishing the structure.

Its SSDA proposes converting the building into a 14-storey mixed-use development with 62 apartments and 86 co-living rooms, together with ground-floor retail and a major refurbishment of Blue Street Plaza. The application is currently at the Response to Submissions stage.

<a href="https://www.apartments.com.au/news/nsw/first-look-zurich-targets-north-sydney-office-conversion-with-148-unit-proposal-above-metro-station">First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station</a>

&nbsp;

First look: Vinnies files for 20-storey Lavender Bay apartment tower as North Sydney housing pocket heats up

Commercial

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St Joseph's Refuge in Adelaide's Fullarton is up for sale.
The handcrafted sandstone building, on a 4,350 square metre plot, is over 100 years old, constructed circa 1900.
Currently used as a Christian church, the two storey building has around 20 separate rooms for meetings, offices or event spaces, plus bathrooms and kitchen areas, one approaching commercial size. The church congregation owns the estate.
Marketing agents Peter McMillan and Eloise McMillan of Toop &amp; Toop Hyde Park note in the property's listing that the property could be used for student or aged care accommodation, or as an educational, healthcare or religious institution, or as a particularly large family home.
They are accepting expressions of interest for the property at <a href="https://www.realestate.com.au/property-house-sa-fullarton-119235755" target="_blank">82 Wattle Street in Fullarton</a> until 8 April.
The building was established as two 30 bed dormitories with a large hall and community room, with construction beginning in late 1900. Architect E J Woods designed the premises on the plot, which previously held a jam factory. Lady Tennyson opened the facility in September of 1901.
According to a 1900 issue of Adelaide's <a href="https://www.propertyobserver.com.au/https://trove.nla.gov.au/ndp/del/article/36979270" target="_blank">The Advertiser</a>, the Catholic refuge was originally intended to shelter young expectant mothers or recent mothers who were unmarried, no matter their religion or denomination.
The <a href="https://www.samemory.sa.gov.au/site/page.cfm?u=1461&amp;c=1554" target="_blank">Adelaide Observer </a>in 1901 noted, however, that the Sisters of St Joseph's refuge also provided accommodation and care for women with criminal backgrounds and new migrants. The organisation, founded by Mother Mary MacKillop in 1963, was funded by a combination of public donations, church collections and earnings from the women themselves, some of whom worked in the laundry.
The refuge moved into the Fullarton premises after becoming too large for their previous Norwood premises. The Fullarton refuge provided room for "80 inmates and 30 babies", as well as the 10 or so sisters, according to the Adelaide Observer.
In 1963, the Daughters of Charity took over the institution, and it later became known as Louise Place.
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jrichardson-uRX5hFdKfN

Fullarton, Adelaide's St Joseph's Refuge on the market

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Property industry pay increased at an annual 3% median - slightly above the ABS figure of 2.7% annual increase for the general workforce, and the annual CPI rise of 1.7%, according to the latest report by Rita Avdiev, managing director of the Avdiev Group.
The latest Avdiev Remuneration Report 2015, the product of a formal Australia wide survey of property, investment and construction employer companies, finds that business conditions have remained stable or improved for the majority of survey respondents.
But for companies which operate Australia wide, conditions vary from state to state, with the east coast reported to be doing better than elsewhere.
“Business conditions in the property industry will continue to fluctuate and possibly deteriorate the longer the country remains on hold” said Avdiev.
"While the new state governments continue to review the committed decisions of their predecessors, new projects are languishing on drawing boards and in boardrooms.
“The results of two recent state elections have introduced a note of caution and uncertainty into the previous positive sentiment in the majority of property and construction companies.
"A return of the current NSW government at the upcoming election may see a rapid influx of investment and new projects into the state.
“Many contributors to the Avdiev Report are affected by the hesitation of their clients to proceed with decisions which they made in 2014.”
She said forecasts for next pay reviews are 3% overall, but may be tempered by fluctuating business conditions.
Junior staff who are in a rapid career development phase are flexing their muscle, getting bigger rises than the seniors from companies pushing for new skills and staff renewal. 
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jchancellor-FAypfDUnLy

State government elections unsettling property companies: Rita Avdiev 

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A Lakemba development sold at auction last weekend at $1.86 million.
The 15-17 Quigg Street offering was zoned R4 high density residential.
<a href="https://www.propertyobserver.com.au/https://www.homely.com.au/lakemba-canterbury-sydney-greater-new-south-wales/listingdetails/893187" target="_blank">The block size was 976 square metres,</a> suitable for unit development, according to selling agents, Knapton &amp; Co.
Lakemba is 12 k milometres to the Sydney CBD.
Last year a 1024 square metre potential development site zoned R4 High Density Residential, with very large four bedroom full brick home, was sold at 23 Quigg Street North for $1,925,000.
At 78 Quigg Street South, a 1,144 square metre site remains for sale at $1.25 million<a href="https://www.richardmatthews.com.au/buying/NSW/Canterburyorbankstown/Lakemba/House/1P0576" target="_blank"> through Richard Matthews Real Estate</a>.
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Lakemba unit development site sells at $1.86 million

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GUEST OBSERVATION
A company claiming to carry on a land development business in Victoria has been unsuccessful before the Administrative Appeals Tribunal (AAT) in claiming GST input tax credits (ITCs) for acquisitions it had made.
The case illustrates the need for proper documentation in making tax claims and also, in this particular matter, the need for something more than just an intention to conduct a business in order to be able to <a href="https://www.smartcompany.com.au/finance/tax/43664-over-claimed-gst-credits-good-intentions-just-don-t-cut-it" target="_blank">claim GST input tax credits</a>.
The taxpayer company was registered for GST in August 2010. It claimed it had purchased property in Victoria for land development and subdivision. For the periods 1 October 2010 to 31 March 2011, the company claimed a total of $226,128 in ITCs for what are known as creditable acquisitions; however, throughout the period, no sales were reported.
Following an audit by the ATO, the commissioner found the company was not carrying on an enterprise for the purposes of the GST Act, was not entitled to ABN and GST registration, was not entitled to the ITCs, and was liable to an administrative penalty at the rate of 50% for "recklessness". Before the AAT, the taxpayer clarified it was only seeking to claim $1128 in ITCs for the tax period ended 31 October 2010.
The company had the burden of proving its case, that the commissioner's assessments were excessive and that the commissioner's decision to cancel its GST and ABN registration should not have been made or should have been made differently.
The AAT held the taxpayer had not discharged the burden of proof that, on the balance of probabilities, the ITCs claimed for the periods 1 October 2010 to 31 March 2011 for $226,128 should be allowed. Although the taxpayer had subsequently claimed to have withdrawn some of the BASs leaving only its ITC claim for $1128 for the tax period ended 31 October 2010, the AAT said the taxpayer was not entitled to the claim because of its finding that the taxpayer was not carrying on an enterprise at that time, which meant there were no acquisition for a creditable purpose and therefore no creditable acquisition.
A key issue was the lack of documentation proving that the taxpayer was indeed the owner of the land it claimed to have purchased. Among other things, the AAT concluded the taxpayer did not have the funds required to purchase the land. It further noted the taxpayer "has never become the registered proprietor of that land". It said that until such time as the land was in fact conveyed to the taxpayer, "it could not possibly have commenced an enterprise involving the subdivision of that land".
The AAT said that the carrying on of an enterprise may encompass a wide range of activities or even a single activity at any point in time between the commencement and termination of the enterprise. The tribunal then examined the company's purported land development project in some detail.
The AAT said while the company may have had the intention to carry out a business of land development and subdivision, the steps it took in obtaining a planning permit and a market valuation could not "properly be described as being steps taken in the course of commencement of an enterprise".
In the AAT's view, until such time as the company acquired the right to deal with the land in such a way that subdivision and sale could occur, it was "artificial to suggest it was conducting the enterprise involving the subdivision and sale of land". The steps taken were clearly precursors or preparatory to the possible commencement of business, whether that be subdivision of the land or a quick sale to a syndicate of buyers, the AAT said.
The tribunal was critical of the <a href="https://www.smartcompany.com.au/finance/tax/29844-tax-experts-warn-documentation-critical-after-property-investor-loses-attempt-to-split-tax-burden" target="_blank">level of documentation provided by the company</a>. It said the documents provided were unsatisfactory. Some were incomplete, some were simply absent and some appeared to be inconsistent with statements made to the ATO in the course of discussions following assessment. The purchase price of the land in question was just over $2 million. However, the AAT said there was not in evidence an executed contract, nor was there any objective evidence that the parties had agreed to enter into this contract.
Accordingly, it held the company was not carrying on an enterprise in accordance with the GST Act at the relevant times, and therefore, it was not entitled to the ITCs for the claimed expenditure in any of the months in question.
The AAT also affirmed the company was not entitled to ABN and GST registration, again, because it was not carrying on an enterprise at the relevant times. It also affirmed the penalty decision and refused remission of the penalty in the circumstances as it found the company was reckless in lodging the ITC claims.
Terry Hayes is the editor-in-chief of tax news reporting at <a href="https://www.thomsonreuters.com.au/">Thomson Reuters</a>, a leading Australian provider of tax, accounting and legal information solutions.
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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thayes-XhNcNKLNWa

Intention to carry on a business not enough for GST claim: Terry Hayes

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The Garibaldi Inn commercial retail premises at 37 Alexandra Street, Hunters Hill have been listed for sale.
The landmark property comprises the original sandstone building and two substantial separate retail and commercial buildings. 
The centre has 14 retail and commercial tenants with a total lettable area of approximately 770 square metres and underground parking for 14 cars.
Its net income is $555,885.
It sits within what became known in the 1850s as The French Village, at Hunters Hill, Sydney's smallest and oldest municipality.  
The two-storey sandstone building, Garibaldi on the corner of Ferry and Alexandra streets in Hunters Hill was the early home base for some of the stonemasons who worked for the wealthy settlers, Didier and Jules Joubert and Count de Milhau for building the many enduring beautiful homes. 
The cosy emporium takes its revolutionary name from Giuseppe Garibaldi via the Genoese stonemason, John Cuneo who built the first inn and grocery store.
It was renovated in 1983.
Then for many years in the late 1980s Garibaldi was the home and office to advertising man John Singleton.
It has been listed for 10 March auction <a href="https://www.realcommercial.com.au/property-retail-nsw-hunters+hill-501453179" target="_blank">through LJ Hooker Mosman agent Scott Stephens</a>.
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Sandstone Garibaldi, Hunters Hill commercial offering

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Currently no fees apply to foreign investment applications in Australia.
But there will be soon following the House of Representatives Economics Committee report recommending the government apply a modest administrative fee to the current screening for all foreign purchases of residential real estate, including purchases by temporary residents, to fund compliance and enforcement activities.
It will apply to residential, commercial, developer, business and rural applications.
Business, commercial real estate and agribusiness investments would be subject to <a href="https://www.treasury.gov.au/~/media/Treasury/Consultations%20and%20Reviews/Consultations/2015/Strengthening%20Australias%20foreign%20investment%20framework/Key%20Documents/PDF/Strengthening%20Australias%20foreign%20investment%20framework.ashx" target="_blank">application fees between $10,000 up to $100,000</a> depending on the size and sector.
<img src="/images/2015/02/25/firb-feb-25-one.jpg" alt="">
Source: Treasury department
The government is seeking reaction to the proposals and will make a final decision after 20 March.
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Fees for foreign acquisitions of Australian commercial property set to be introduced

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Consolidated Pastoral Company (CPC), Australia’s largest privately owned beef producer, has completed the acquisition of Bunda Station in the Victoria River District, Northern Territory.
Founded as part of the famed Inverway Station in 1894, Bunda has been owned by the Underwood family since 1956.
The 178,800 hectare breeding and growing station currently runs in excess of 13,000 Brahman and Charbray infused cattle, including a 2,000 head purebred Brahman stud.
"Bunda Station has considerable development potential to run additional cattle that CPC will develop," said Troy Setter, chief executive of CPC.
“Our 28 year ownership of neighbouring station Kirkimbie gives us great confidence in the opportunity to apply our operational expertise at Bunda to further improve productivity and extract synergies and optimise performance from the merger of the two stations.
“This acquisition strengthens our portfolio in the north of Australia, the gateway to the rapidly expanding Asian markets. CPC and our owner Terra Firma see considerable opportunities across the beef value chain. We will continue to look at value-adding acquisitions which will allow us to expand grazing capacity as we continue to transform CPC from a farm-gate producer to a vertically integrated, customer-focussed business.” 
<a href="https://www.pastoral.com/en" target="_blank">CPC</a> runs approximately 360,000 cattle over 19 properties, covering more than 5.6 million hectares which represents around 0.75% of Australia’s land mass.
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Consolidated Pastoral finalises Bunda Station purchase

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Investors who are looking for the highest returns will continue to look for development opportunities, and Savills particularly favour outer London and the key regional cities as development opportunities in 2015. Speculative development activity will remain sparse, due to investor and lender caution, but those who are brave enough to undertake it will do well, it said.
Overall Savills expect that 2015 will be another strong year for UK real estate, but investors are going to have to work harder to identify markets and sectors that will deliver high returns.
"The commercial markets in 2015 will still offer opportunities for both risk-averse and risk-embracing investors, though the stronger than expected bounce in capital values in 2014 will diminish," the report said.
In London offices, the low level of availability will continue to deliver strong rental growth.
"We expect to see continuing strong demand from risk-averse international investors," said the report.
"Strong capital value growth was undoubtedly the key theme of 2014, with growth across all sectors stronger than we were forecasting at the beginning of the year.
"We expect to see continuing capital value growth across all prime sectors in 2015, albeit at a slower rate.
"The general election in spring 2015 will definitely have some effect on sentiment, though in the agricultural and commercial sectors we expect the effects to be relatively muted."
In the residential markets the threat of mansion tax, combined with the Mortgage Market Review could lead to a more sustained hiatus in capital value growth in 2015.
Generally Savills expect that the macro- economic story for the UK will remain benign, with base rates remaining unchanged until early 2016, and the combination of low oil prices and recovering incomes giving a boost to the UK consumer.
Savills expect that UK real estate will continue to deliver high returns in comparison to other asset classes.
"This will mean that domestic and international demand for prime and good secondary assets will be strong, though we expect to see more focus on supply and demand fundamentals in 2015, rather than just the potential for yield shift."
Savills top picks across all sectors are for markets with structural or impending undersupply.
Click to open in new window:
<a href="/images/2015/02/18/save%20feb%2018%20one.jpg" target="_blank"><img src="/images/2015/02/18/save%20feb%2018%20one.jpg" alt=""></a>
Source: Savills
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Savills suggest UK commercial investment strategies for 2015

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Prices for residential property in Australia’s major capitals will continue to rise but at a slower pace than in previous years and there will be variation across different parts of the cities, the head of Mirvac has forecast.
Demand for housing is outstripping supply in many locations, while low interest rates are continuing to support residential markets and housing finance is up in all major states, Mirvac chief executive Susan Lloyd-Hurwitz said at the company’s half-year results briefing.
“We expect housing credit to continue to grow,” Lloyd-Hurwitz said.
The value of dwelling finance commitments excluding alterations and additions rose 4.7% from November 2014 to December in seasonally adjusted terms, the latest Australian Bureau of Statistics (ABS) data shows.
Building approvals increased by 8.8% in seasonally adjusted terms in the December quarter of 2014 compared with the same quarter of 2013, according to ABS figures.
“Sydney in particular is supported by entrenched undersupply,” Lloyd-Hurwitz said. “Over the next 20 years an additional 1.6 million people will live in Sydney and to accommodate that population growth the market needs to supply over 33,000 new dwellings per annum and that’s a level [of construction] that has never before been sustained.”
All major states had experienced strong population growth, although this has slowed in Queensland and Western Australia.
Demand for housing coupled with limited supply is expected to drive property prices higher.
Mirvac expects modern, higher density dwellings with access to infrastructure and amenities to be most in demand, particularly in the south eastern states. The company secured nine new residential projects in the first half of the 2015 financial year with most of the lots in NSW.
Overall, the company’s residential portfolio is dominated by properties in Sydney and Melbourne, with more than half apartments.
“While overall vacancy rates are low across all capital cities there are pockets of oversupply which requires us to be very disciplined about which submarkets we pursue,” Lloyd-Hurwitz added.
Mirvac has walked away from residential development opportunities when the risks were too high or the rewards too low, she said.
The company reported a $279 million profit attributable to security holders for the first half of the 2015 financial year, up 13.4% compared with the previous first half. Operating profit after tax increased to $231.2 million, up 15.5% compared with the half to December 2013.
It has forecast full year earnings per security will be between 12.2 and 12.3 cents, and distributions will be 9.2 to 9.4 cents per security.
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Mirvac expects slowing in price growth

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Australia’s largest pension fund AustralianSuper has reportedly agreed to buy a 20% stake in King’s Cross Central for £200 million (A$396m) London.
AustralianSuper beat off competition from overseas sovereign wealth funds from the Middle East and investment groups in the Far East, Property Week revealed.
AustralianSuper has more than two million members and over $75 billion under management.
It is the second UK deal in two years following its purchase of a 50% stake in the Milton Keynes regional shopping centre for £270 million in 2013.
At 67 acres, King’s Cross Central is a large mixed-use development being developed since 2001.
On completion it will include Google’s new European head office. Argent, DHL and London and Continental Railways appointed Rothschild and GM Real Estate to sell the stake in late 2014, and it is believed the deal was agreed in the past few days.
Last year AustralianSuper signalled its intention to aggressively build a $10 billion property portfolio by 2016.
AustralianSuper head of property Jack McGougan currently manages just over $6 billion of real estate ­investments.
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