Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

Joel Robinson

First look at MAYD's North Kirra mixed-use precinct

<main data-perf-region="main">
Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

&nbsp;

[smartcode_project_cta:default project_id=152737]

<h3 data-end="3697" data-section-id="q3n5ak" data-start="3672">&nbsp;</h3>
</main>

Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

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]

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

Commercial

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The Small Maldives Island Company has appointed Luke Mangan as the chef of their new resorts, responsible for food and beverages at Amilla, which opens in November, and Finolhu, due to launch in mid-2015.
There will be eight restaurants across the two islands with Lonu, the main restaurant on Amilla. Lonu is Maldivian for salt.
The new venture adds to his existing glass brasserie at the Hilton Sydney; plus Salt grills and/or bars in Surfers Paradise, Jakarta, Singapore, Bali and Tokyo.
The Maldives group is headed by hotelier, Tom McLoughlin, who created the world’s first underwater spa at Huvafen Fushi and the first underwater nightclub at Niyama. The group has also hired Australian hospitality executive Michael Flynn.
Amilla Fushi is an island resort located in Baa Atoll located in the pristine UNESCO biosphere reserve. 
Trained by renowned chefs Michel and Albert Roux, Luke Mangan opened his first Salt restaurant in Darlinghurst, Sydney, in 1999. glass brasserie, situated in the Hilton Hotel in Sydney, opened in 2005.
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Celebrity chef Luke Mangan takes Salt to Maldives resorts

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Chapel Street's next big redevelopment appears set for the Chapel Plaza.
An application for demolition of the existing building and construction of a twelve storey apartment building, has been lodged with Stonnington Council.
There will be 188 apartments, retail floor space, and commercial office space over a three storey basement accommodating car parking.
It sits between Toorak and Malvern Roads.
Plans for the $63 million have been lodged by SJB for the 402 to 416 Chapel Street holding. The property comes with Simmons Court and Bray Street frontage that totals around 3,700 square metres.
<a href="https://www.realcommercial.com.au/property-retail-vic-south+yarra-5956326" target="_blank">The property</a> last traded in 1983 at $1.51 million when bought by Ruben Fried, who died in 2009.
Spotlight, the Melbourne-based chain of 100 fabrics and homewards stores, was founded by brothers, Ruben Fried and Morry Fraid, having grown from one store in 1973. The company reported annual sales of $600 million at one point when employing about 6,000 staff. 
The BRW Rich List noted in the late 1980s that the brothers Ruben Fried and Morry Fraid had different surnames because of a "teacher's mistake during their school years".
They have never bothered to correct it.
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Chapel Plaza set for 12 storey replacement development

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One question often asked by inexperienced investors is whether or not you can manage your own commercial property.
And clearly, the short answer is: Yes, if you know what you doing.
However, owning a commercial property means that you do have certain legal responsibilities and among them are your property's compliance with the various essential services requirements under current building regulations.
Obviously, the rules and regulations will vary from state to state. But nonetheless, it's something you need to be fully informed about.
For example: The objectives of the Victoria Act (from July 1994) include:
<div>
<ul>
<li>To establish, maintain and improve standards for the construction and maintenance of buildings;</li>
<li>To facilitate the adoption and efficient application of national uniform building standards and the accreditation of building products;</li>
<li>To enhance the amenity of buildings and protect the safety and health of people who use buildings;</li>
<li>To facilitate and promote the cost-effective construction of buildings; and</li>
<li>To provide an efficient and effective system for issuing building and occupancy permits.</li>
</ul>
</div>
You will find the Act sets out the legal framework for regulating construction of buildings, building standards and maintenance of certain building safety features.
<h3>Your Obligations</h3>
As a landlord, the regulations require you:
<ol>
<li>Identify and inspect all essential services to specific standards and frequencies.</li>
<li>Keep hard-copy records of inspections on site.</li>
<li>Complete and display the annual essential services report and the occupancy permit in the building.</li>
</ol>
Buildings constructed before July 1994 are not required to have an annual essential services report. Nonetheless, all the safety systems must be properly operating and maintained.
This would include things like exit signs and paths of exit; and therefore, it would be prudent for you to keep records of all your maintenance checks.
However, if you were to undertake significant upgrade works to an older building you would then be required to fully comply with current day regulations.
Bottom line: While compliance may seem somewhat confusing and onerous, this is something your managing agent will be able to co-ordinate on your behalf to ensure you meet all your legal obligations.
And therefore, the long answer is that it would be in your best interests to appoint a competent managing agent — rather than try to muddle through on your own.
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The commercial property regulations and obligations investors need to know

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Eddie McGuire, the Collingwood Football Club president, MMM breakfast radio broadcaster and founder of media company, McGuire Media, has spent around $12,575,000, beating off Chinese investors to secure a Toorak Road, Toorak retail/office complex.
The three-level professional corporate office, located between Williams Road and Grange Road, was sold through CB Richard Ellis on April 11 by See Bay Pty Ltd.
Property Observer concludes it could be occupied by McGuire as an owner-occupier.
The retail space has recently been <a href="https://www.commercialview.com.au/414-toorak-road-toorak/commercial-lease-details-7081357" target="_blank">advertised by CBRE</a> as an excellent opportunity for food operator "as the building has secured a new media company with 100 employees commencing early next year".
Sub-divided into six titles, the sale yield reflected 1.68%, and when fully leased would reflect a yield of 4.8%.
The 414 Toorak Road building, with basement parking and gym, has Allechante nail bar and Lavish dermatology clinic are among the current occupants of the leasing space. Kondo has been holding an end of lease clearance sale.
Browne &amp; Co Solicitors lodged paperwork pursuant to the purchase on behalf of Jax Capital Pty Ltd, which Fairfax Media says is directed by McGuire and his wife Carla.
The property traded at $3.39 million in 2003.
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Eddie McGuire spends $12.5 million on blue-chip Toorak retail/office complex

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The high profile investor syndicate of John Singleton, Gerry Harvey and Mark Carnegie have spent $80 million to buy the Entertainment Quarter at Moore Park.
Known as the 'three amigos', the trio see the potential for redevelopment at the Centennial Park location.
''We - John Singleton, Katie Page, Mark Carnegie and I - visited it a couple of times and realised it was hard to get 11 hectares with development opportunities and its location, anywhere else in Sydney,'' Harvey told Fairfax Media.
He signalled about 26,000 square metres within could be readily redeveloped after consultation with the local residents.
"We will look at all options, including a hotel, pubs, serviced apartments and an updated retail sector,'' Harvey suggested.
The syndicate's portfolio has centred on hotel acquisitions.
The 11.08 hectare site centres around the Bent Street retail precinct and the former Sydney Showground show-ring.
CFS Retail Property Trust listed its leasehold interest in The Entertainment Quarter through Sam McVay from McVay Real Estate who secured the offer from the consortium headed by the Carnegie Private Opportunities Fund No. 1.
The sale of the mixed use asset focused on retail, entertainment, leisure and space in the Centennial Park precinct is conditional on the approval of the ground lessor and the NSW government. 
CFS and one of its wholesale funds, CFSGAM Property Retail Partnership, jointly hold a leasehold interest in the asset. The most recent CBRE valuation as at December 2013 was $63 million, with no vacancy rate, however down on its mid-2013 valuation of $66.4 million.
Michael Gorman, the deputy CEO, said the sale was in line with its strategy of divesting non-core assets.
It was sold by the CFS almost 10 years after it was bought from Rupert Murdoch's News Corporation and the developer, Lend Lease.
Photo courtesy of J Bar/ <a href="https://creativecommons.org/licenses/by/2.5/" target="_blank">Creative Commons</a>.
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'Three Amigos' buy Moore Park's Entertainment Quarter

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A total of 10 childcare centres, all leased, will be auctioned later this month by Burgess Rawson.
The childcare centre freeholds all have triple net lease terms, where the tenant is responsible for the payment of rates and structural maintenance.
<ol>
<li>1-3 Beautel Street, Waterford, QLD. Secure lease to 2018. Rent at $97,567 per annum. 
</li>
<li>2 Blackbutt Place, Byron Bay, NSW (pictured above). Secure lease to Goodstart to 2023. Rent at $55,543 per annum. 
</li>
<li>4A-6A Finchley Place, Kealba, VIC. Secure lease to Goodstart to 2020. Rent at $95,771 per annum. 
</li>
<li>13 Tenterfield Avenue, Hoxton Park, NSW. Secure lease to Goodstart to 2021. Rent at $137,859 per annum. 
</li>
<li>1 Orchard Street, Baulkham Hills, NSW. Secure lease to 2024. Rent at $129,509 per annum. 
</li>
<li>1 Niland Rise, Templestowe, VIC. Secure lease to national operator to 2024. Rent at $93,102 per annum. 
</li>
<li>104-106 Main Hurstbridge Road, Diamond Creek, VIC. Secure lease to national operator to 2024. Rent at $126,821 per annum. 
</li>
<li>5-7 Hercules Street, Tamworth, NSW. Secure lease to 2018. Rent at $56,724 per annum. 
</li>
<li>28 Keen Street, Lismore, NSW. Secure lease to 2024. Rent at $56,327 per annum. 
</li>
<li>69-71 Telford Street, VIC. Secure lease to Goodstart to 2020. Rent at $101,586 per annum.</li>
</ol>
The properties all be auctioned at the Crown Conference Centre in Southbank at 10:30am on Wednesday 25 June.
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10 leased childcare centres for sale later this month

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In Bankstown, an $80 million project called Little Saigon is expected to revitalise Chapel Road and is scheduled to be completed by the end of 2014.
Built in response to a number of residential developments that require amenities, as well as to provide a new international food, entertainment and medical precinct<a href="https://www.littlesaigonplaza.com.au" target="_blank"> Little Saigon</a> will include the largest Yum Cha restaurant in Sydney.
<img src="/images/2014/05/30/bankstown-may-30-one.jpg" alt="">
The development comes from Fam International, with design by Nordon Jago architects and is located at 462 Chapel Road, Bankstown.
The Yum Cha restaurant will be run by Golden Group.
The development will also include the first rooftop alfresco bars and terraces for the western Sydney suburb of Bankstown, as well as two supermarkets, more than 3,500 square metres of function centre space, boutique fashion outlets and a medical centre.
<img src="/images/2014/05/30/bankstown-may-30-two.jpg" alt="">
Confirmed tenants for the development include Eyecare Network, B Beauty &amp; Beyond Laser Clinic and a 340 square metre pharmacy.
It will be over six levels and official material details that it includes the following leasing space:
Level 5: Rooftop restaurants, 168 - 237 square metres
Level 3: Function centre, 3,537 square metres
Level 2: Commercial office, 38 - 2,861 square metres
Level 1: Food court, 20 - 1,115 square metres
Ground: Specialty stores, 18 - 491 square metres
Lower: Supermarket anchor, 17 - 1,000 square metres
The launch is expected for Easter 2015 and it is currently 45% leased, with around 9,000 square metres of leasing space remaining. Across the six levels, the cost ranges from $350 per square metre to $2,000 per square metre.
David Fam, Fam International’s co-director, said that there is significant diversity in the Greater Western Sydney area.
“A lot of planning and thought has gone into providing residential developments for Bankstown’s rapidly growing population,” he said.
“What Little Saigon will do is respond to the need for more public amenities, and cater to the arrival of all these new residents, providing them with a one-stop-shop for all their daily needs, as well as a true destination for all their dining and entertainment.”
Bankstown’s <a href="/news">median house price has climbed to $605,000 in recent months</a>, with the median unit price at $360,000.
Photos: Supplied.
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Bankstown’s $80 million Little Saigon to feature Sydney’s largest Yum Cha restaurant

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The wealthy family behind Australia’s 7-Eleven convenience stores, the Withers, have scooped up the 24 struggling Australian Starbucks stores for an undisclosed sum.
Russell Withers and his family, who were last year estimated to be one of the country’s richest families with a worth of $725 million, brought the US 7-Eleven convenience chain to Australia in 1977 and are now set to add the sluggish Starbucks franchise to their books.
While the <a href="https://www.smartcompany.com.au/growth/economy/33825-the-power-of-ritual-how-starbucks-uses-coffee-tastings-to-anchor-its-staff" target="_blank">coffee chain might be seen as an international success story</a>, the business has <a href="https://www.smartcompany.com.au/finance/wealth-management/21187-20110801-how-howard-schultz-saved-starbucks" target="_blank">always struggled to secure an Aussie fan base</a> since opening in Sydney in 2000, due in large part to the success of Gloria Jeans, McDonald’s McCafe outlets and independent coffee shops.
In July 2008, Starbucks cut back its local operations, closing 61 of its 85 stores and letting go of more than 650 staff.
Withers Group chief executive Warren Wilmot said in a statement the company planned to turn Starbuck’s fate around by focusing on company-owned, rather than franchised stores.
“Our aim will be to make Starbucks the most successful coffee chain in Australia," said Wilmot.
"Our intention is to capitalise on the skills of the broader Withers group of companies in successfully bringing an international brand to Australia, and adapting it to suit the local market," he said.
Russell Withers owns the Australian rights to 7-Eleven, Australia's largest convenience and independent petrol retailer, with his sister Bev Barlow.
Their grandfather, George Withers, purchased his first grocery store in 1913.
The Withers Group plans to rebuild Starbucks' local standing by opening company-owned stores in close proximity to its existing 600 7-Eleven outlets, starting with CBD and metropolitan areas.
The director of the Franchise Advisory Centre, Jason Gehrke, told SmartCompany the Withers Group has the franchise infrastructure to reverse Starbuck’s lack of local success.
“The franchise infrastructure they have in Australia is vastly greater than what Starbucks currently had as a 24 store chain,” says Gehrke.
“When it scaled back its operations in Australia it vastly eroded its capacity to develop here,” he says.
Gehrke says he believes the Withers Group will review its decision not to franchise the brand in the future.
“What I would want to do in the first incidence of acquiring a business, is look to consolidating it, rather than change it,” he says. “I would never say never with franchising it though.”
Gehrke says other international coffee chains such as Gloria Jeans have been successful because of their willingness to adapt to the local market.
“Gloria Jeans knew and understood the Australian palette for coffee and the difference between the US palette for coffee,” he says.
“Starbucks failed to adequately adjust their offering to suit the Australian palette.”
He also says the location and size of Starbucks’ ‘lounge’ style stores were too ambitious to substantiate its smaller volume of customers.
Gehrke says Australian 7-Eleven operations have been a leader in the global innovation of the brand.
“The Withers have the potential to bring the same success and innovation to this new global brand,” he says.
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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Rich List family behind Australia’s 7-Eleven snaps up Starbucks

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

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