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

<html><body>
GUEST OBSERVATION
The substantial increase in electricity prices over the past decade has seen building owners becoming increasingly conscious of the impact that heating, ventilation and air conditioning (HVAC) units are having on their bottom line.
These units account for around 40% of a building’s energy expenditure and 70% of a landlord’s total energy bills. Data also shows that at least 15% of this consumption is attributed to faults and inefficiencies – issues normally addressed at intervals decided by building maintenance teams, not at the point of malfunction.
These constant faults and inefficiencies are leading to high tenant dissatisfaction due to poor conditions, lower National Australian Built Environment Rating System (NABERS) star ratings, increased carbon emissions and of course, skyrocketing energy bills.
For this reason I’ve spent the past two years developing the ACE Platform, capable of identifying and correcting faults and inefficiencies in HVAC units in real time.
It works by digging into multiple data sources including building management systems, sensor and control data, occupancy figures and weather data, and feeding it into a cloud-based analytics engine.
It then recreates the structure of the plant and equipment virtually, determining optimal energy usage and generating reports at points where actual energy usage deviates from this norm. These reports are issued to building owners and maintenance teams in a simple, specific and actionable format – allowing issues to be addressed before they become a tenant complaint or begin to cost thousands of dollars. 
The ACE Platform was recently trialed at large commercial shopping centre Wollongong Central where it was shown to save the property owner $5,250 on energy every month – a forecasted saving of $63,000 per year.
Though the trial was on just one site, with many owners holding over 50 sites in their portfolios the savings the software platform could deliver to a business could amount to millions of dollars per year. Greater tenant retention rates and increased NABERS ratings could also deliver greater returns to shareholders through an increase in the value of the asset.
David Walsh is chief executive officer of CIM Environmental Group.
</body></html>

kjiminez-eaYKfU7qd2

Could this be the future of building optimisation?

<html><body>
A Western Australia building company in Geraldton, Will-Construct Pty Ltd, and director Peter William Willoughby, of Wandina, have been ordered to pay $5,000 each to the Building Commissioner by the Building Services Board for misleading conduct in relation to commercial buildings.
The small company of general contractors worked only on non-residential buildings, not including industrial buildings and warehouses.
The company admitted that they misled the City of Geraldton as to the identity of the builder on the building licence applications, in relation to commercial sheds on three sites. This was from 8 February 2012 to 19 November 2012.
Building Commissioner Peter Gow said that all the information requested on an application for a building licence is required for “good reason”, and that providing misleading or incorrect details can have serious consequences. Gow said that this was the case even if the incorrect information was inadvertently provided.
“It is particularly crucial that the builder’s true details are known because, at the end of the day, they are responsible for the work carried out,” he said.
“Consumers also have a right to know who the person they have engaged to carry out building work is and should be able to check the person has the necessary skills, qualifications and registration, if required, to perform work to a sufficient standard.”
</body></html>

jduke-EHk3XBmHkn

Western Australia building company to pay $10,000 penalty after misleading City of Geraldton

<html><body>
The Melbourne education entrepreneur Shesh Ghale has snappily sold Tomasetti House in Melbourne’s CBD for $16.2 million.
The eight-storey building at 277-279 Flinders Lane was bought in 2007 for $12.2 million and used in part for his headquarters. 
The marketing was through <a href="https://commercialpropertysearch.savills.com.au/7572/Sale/Melbourne/277-279-Flinders-Lane" target="_blank">Savills agents Clinton Baxter and Nick Peden</a> who advise it was bought by local private investor who outbid two offshore mainland Chinese buyers.
Set on 643 square metres of land, it is currently 93% leased.
The property will deliver a 7.1% yield fully leased with a fully let net rental of $1,156,870 per annum.
The eight-level Tomasetti House building, with 3,818 square metres of office and retail area, was briefly listed in 2011 with $15 million hopes.
Ghale is the co-founder of the Melbourne Institute of Technology which is undertaking the refurbishment of the 1920s Argus Building on the corner of Elizabeth and La Trobe streets into a 3,000 student campus.
His plans for a $450 million hotel-and-­apartment twin tower complex overlooking ­Melbourne’s Flagstaff Gardens near the Queen Victoria Market is yet to secure approval.
The application is for two towers of 50 and 30 storeys with a 210-room hotel and 609 apartments at the corner of William and Franklin streets with plans for 279 public car parking spaces for market visitors and a 372-space public bike hub with showers, gym and pool.
The development architect is Elenberg Fraser.
</body></html>

jchancellor-FAypfDUnLy

Mebourne property developer Shesh Ghale sells Tomasetti House

<html><body>
Eling Forest Vineyard, the Southern Highlands of NSW boutique winery, has been sold.
Located just west of Sutton Forest village, the 73 hectare property has been bought by the Wang family for $5.8 million.
<a href="https://www.andrewhearn.com.au/listings/rural_sale-93411-sutton-forest/" target="_blank">It had been listed</a> by interests associated with Warwick Wainberg through Andrew Hearn at the Berrima based Andrew Hearn Real Estate.
The buyers were Wei Guo Wang, Wei Min Wang, Chen Yang Wang and Pei Hong Cao.
It last traded in 2005 at $600,000.
It highlights the Southern Highlands stature as one of Australia's most exciting new wine regions, though still not a patch on the Hunter Valley which has been attracting strong Chinese buying interest in recent years.
The Southern Highlands' first wine producer in recent times was Kim Mogine at Joadja in 1983. There were about 50 vineyards in the region by 2000 that spanned 145 hectares within Australia's newest wine region better known for its tulips.
Cool climate vineyards were first planted at Joadja Creek in the 1870s, supplying Sydney with table grapes.
Established in 1990, Eling Forest was the second modern winery to be established in the cool climate area, with its first wines produced in 1993. 
Its first vines were planted by Leslie Fritz, who was then 80, and came from a long line of winemakers in Hungary. The then 157 hectare holding had cost $1.9 million in 1989.
The grapes are handpicked and vines hand pruned in the traditional manner at the Hume Highway property, with the wine fermented in stainless steel vats, then aged in American and French oak barrels. 
<a href="https://www.elingforest.com.au/cafe-a-cellar-door/gallery" target="_blank">About 120,000 bottles are currently produced plus "Apple Thief" ciders.</a>
The cool climate vineyard produces white and red wine varieties and blends sold through is cellar door which is open seven days a week.
There is an 1840 colonial homestead - restored in 2005 during the ownership of Ron Fryer - and other living quarters that provides accommodation in picturesque gardens tendered to at one point by Clause Crowe. 
It comes with function centre that caters for up to 200.
The former boxer Fortunato "Lucky" Gattellari and his brother Frank briefly bought into Eling Forest Winery, initially securing a small stake around 2003. Their venture, which soon soured, <a href="https://articles.chicagotribune.com/2003-01-22/entertainment/0301220080_1_winemaking-wine-bottle-australian" target="_blank">attracted international media interest</a>.
Other major vineyards in the highlands include the Centennial Vineyards at Bowral, established by the co-founders of Cellarmasters, John Piven Large and his partner, Mark Dowling.
</body></html>

Eling Forest, Sutton Forest vineyard sold to Chinese interests

<html><body>
Lend Lease will begin its largest commercial tower in its $6 billion Sydney's Barangaroo South project with a pre-commitment from two cornerstone tenants -  PricewaterhouseCoopers Australia and HSBC Bank Australia. 
In a statement to the ASX, Lend Lease said it should be as an anchor tenant of Tower 1, PwC has entered into an agreement to take 26,500 square metres or  12 floors in the 49-storey building. HSBC has signed heads of term for the bank to take 8,000 square metres of space or 3.5 floors in the building.
Lend Lease will commence the development and funding of 100% of the building, known as Tower 1 of International Towers Sydney, via existing capital sources. It intends to introduce co-investors into Tower 1 at an appropriate time in the future.
Lend Lease Group chief executive, Steve McCann, said "prior to today’s announcement, we were already ahead of where we expected to be at this stage of the evolution of the Barangaroo South precinct, with two towers 77% leased and under construction, and the first two apartment buildings sold".
As part of its announcement, the listed property group said it had entered into an agreement to reduce its co- investment in Lend Lease International Towers Sydney Trust (LLITST) from 25% to 15% via a sale to international pension fund APG. 
Following completion of the sale of the 10 per cent interest, Lend Lease’s equity commitment to LLITST will reduce from $500 million to $300 million.
</body></html>

Lend Lease secure two cornerstone tenants for $6 billion Barangaroo South tower

<html><body>
Stockland chief executive Mark Steinert has revealed that the diversified property group is well placed to deliver earning growth at the top end of its guidance.
Speaking to investors at its third quarter briefing, he said residential deposits for the year to date at 31 March 2014 were the strongest it had recorded for that period in four years.
As such, Stockland was well placed to achieve 6% EPS growth in FY14, at the top of its guidance range.
But in revealing the earnings upgrade, Steinert said the company stood firm on its proposed $2.5 billion takeover of Australand. 
“Today’s update clearly demonstrates that we are achieving strong organic growth and our business is well positioned to take advantage of improving economic conditions," said Steinert. 
Any transaction, he said, must be sustainably accretive to both earnings per security and enterprise value.
Earlier this month, Stockland launched a bid to buy the remaining shares it didn't own in Australand.
The offer was an all-scrip offer of 1.111 Stockland securities for each Australand security. Based on Stockland’s closing price of $3.78 on 22 April 2014, Australand said it implied an offer price of $4.20 per Australand stapled security.
But the Australand board rejected the bid as "incomplete" and not compelling. 
Justifying its proposal, Steinert said: “We believe the offer we presented to the Australand Board is highly compelling, representing a significant 21% premium to net tangible assets at the current Stockland security price."
“The combined group would have the largest active residential business and future pipeline in Australia, with leading capabilities across land subdivision and medium density development. It would also have the second largest Logistics and Business Parks portfolio with high quality assets and future reinvestment opportunities."
</body></html>

Stockland well placed to deliver earning growth

<html><body>
One of Footscray's most well known buildings - The 501 Reception Centre, in Melbourne is being offered for sale.
The property has been owned and operated by the Acquaro Family and trading since 1980.
The offering includes three titles with a land area of 6,271 square metres and a building area of about 3,000 square metres. It also includes five function rooms catering up to 1,160 people and has over 60 car parks.
The 495-507 Barkly Street centre is being offered with a planning permit for a five-level retail and residential development. 
The expressions of interest campaign closes on 27 May through Fitzroys agent James Gregson.
Gregson said the property’s flexibility in terms of both development and owner occupier/investor perspective was outstanding, and being in a such a growth area so close to the CBD presented excellent value and potential.
</body></html>

Footscray's 501 Reception Centre offered for sale

<html><body>
GUEST OBSERVER
We are all painfully aware that asbestos is nasty, really nasty. According to the Australian Mesothelioma Registry there were 612 cases of <a href="https://www.cancervic.org.au/about-cancer/cancer_types/mesothelioma" target="_blank">mesothelioma</a> diagnosed in 2011.
By 31 August 2012, 310 of those diagnosed in 2011 had died – more than half.
Yet as this amazingly versatile, but lethal, building material is being progressively cleansed from our building stock, it seems that complacency is beginning to set in.
This is likely to be one of key the reasons for the introduction of the asbestos related elements of The Work Health and Safety Regulations 2011.
Now for the legal bit - these regulations implement the model Work Health and Safety Regulations (the model regulations) in the Commonwealth jurisdiction and form part of a system of nationally harmonised occupational health and safety (OHS) laws.
Since 1 January 2013, it has been a legal requirement that every workplace constructed on or before 31 December 2003 has an asbestos register held at the subject site. Anyone involved in the ownership, management or occupation of a building is liable under the regulations.
To emphasise the obligations, there are penalties of up to $18,000 for non-compliance with each or all of the following obligations under clause 425 of the regulations:
<ol>
<li>A person with management or control of a workplace must ensure that a register (an asbestos register) is prepared and kept at the workplace. </li>
<li>The person must ensure that the asbestos register is maintained to ensure the information in the register is up to date. </li>
<li>The asbestos register must:</li>
</ol>
(a) record any asbestos or asbestos containing material (“ACM”) identified at the workplace under regulation 422, or likely to be present at the workplace from time to time including:
(i) the date on which the asbestos or ACM was identified; and
(ii) the location, type and condition of the asbestos or ACM; or (b) state that no asbestos or ACM is identified at the workplace if the person knows that no asbestos or ACM is identified, or is likely to be present from time to time, at the workplace.
Given that the regulations have been in force for over 15 months now, it is really surprising to find that there are many managers of commercial and industrial property who are unaware of the requirement for an asbestos register, and even more concerning that there are owners who, once advised of the requirement, will not authorise the expenditure to have such a register compiled.
It’s not expensive, it’s not complicated, and the penalties are high. It’s time to put asbestos back on the agenda.
John Preece is <a href="https://www.knightfrank.com.au/" target="_blank">Knight Frank</a>’s national director - project management and building consultancy.
</body></html>

Asbestos is back on the agenda

<html><body>
The RBA recently confirmed a neutral bias, when it announced its latest decision to keep the official interest rate on hold.
Inflation appears to be relatively steady — and still well within the RBA's stated band for comfort.
Furthermore, the feedback from the residential market is that house prices in Sydney and Melbourne now appear to be levelling out.
The RBA was keen to see the residential market slow somewhat. However, if that doesn't remain the case, it may need to look to increase in interest rates.
In any event, the RBA has now signalled the next direction will be upwards from here. And the first sector to be affected will be residential property, as mortgage payments increase.
What does that mean for commercial property? 
As the interest rate rises, consumers now have less to spend. And this quickly impacts upon retail sales — which in turn, can adversely affect the appeal of retail property as an investment.
Generally, this decline in sales tends to occur with a three to six months time-lag, from when interest rates start to rise.  
Right now, retailers are already reeling from poor trading profits— through a combination of the impact of growing online sales, plus the recent influx of competition from some major overseas traders.
Therefore, any increase in interest rates from here will only serve to further affect the profitability of an already struggling retail sector.
<blockquote>
Any increase in interest rates from here will only serve to further affect the profitability of an already struggling retail sector.
</blockquote>
As you will appreciate, the industrial sector is principally logistics and distribution. Therefore, as retail activity slows, you generally see a flow-on effect for industrial storage space. And previously, this has occurred with a further lag of about a six to nine months.
However, with greater diversity of users now seen within the Industrial sector, any impact is likely to be far less severe than before.
How will the office sector be affected?
As interest rates begin to rise, they will have little (if any) effect upon the office markets around Australia.
This was apparently confirmed by an 80-year study conducted by the BIS Shrapnel … which confirmed there was actually no correlation between interest rates and the well-being of the office sector.
Rather, any fluctuations are driven purely through demand and supply of space — which is primarily related to the health (or otherwise) of the Australian economy.
Bottom line: Despite the intrinsic appeal of retail investment property, you need to be mindful of the underlying strength of your tenant (and the lease covenant) going forward.
Industrial property will prove to be a solid investment. However, your real growth will be seen within the office sector — both in the CBD and suburban office markets, which are currently heating up.
</body></html>

chrislang-EQKojcgJPV

Commercial property and interest rates

<html><body>
Billionaire Joe Lewis has taken his stake on the Australian Agricultural Company’s share register to 23%.
Suggesting he ultimately wants control of Australia’s biggest beef producer, the Bahamas-based British currency trader – who owns English Premier League club Tottenham Hotspur - was the major backer of AACo’s $299 million capital raising in August last year, when his holding stood at 13.5%. 
Lewis can next increase his stake by an extra 11.6% on 1 September, then potentially commanding almost 35% of the register, the Australian Financial Review has suggested. 
Employing around 430 staff, <a href="https://www.aaco.com.au" target="_blank">AACo</a> has 18 owned cattle stations, five agisted properties, two owned feedlots, five external feedlots, and two owned and two external farms located throughout Queensland and the Northern Territory, covering approximately 6.9 million hectares with around a 676,000-head cattle herd.
Last year it sold subdivisions of its Goonoo aggregation, including Adelong, in Central Queensland for $23 million. It also sold Brighton Downs Station, passed in at Elders auction for $10.25 million, for $11.75 to the neighbours of the 420,000 hectares (1.04 million acres) station near Winton, the Britton family.
Last October it added the former RM Williams Agricultural Holdings properties, La Belle Downs and Welltree Stations southwest of Darwin paying $27.1 million through a Colliers marketing campaign for the properties, with a carrying capacity of between 20,000 to 25,000 adult cattle, but were sold bare of cattle. The 100,000 hectare properties will make up 1.6% of AACo’s total land holdings. 
Labelle Downs and Welltree are close to Tipperary, totalling 3,434 square kilometres, which AACo operates under a long-term lease.
AAco's largest shareholder, South East Point, is controlled by the Bahamas-based UK <a href="https://www.tavistock.com/overview/" target="_blank">Tavistock</a> group headed by the aggressive investor Joe Lewis whose stake recently overtook AACo's other major shareholder, the Malaysian-Middle Eastern Felda-IFFCO consortium with a 16.9% stake, given Felda-IFFCo did not take up its entitlement in the September 2013 capital raising.
Tavistock has been on the share register since 2011. 
Other smaller shareholders are David Dixon and Catherine Ramm, Anthony Maurici, Neasham Holdings and Catholic Church Insurance, according to its 2013 annual report. Elders and Peter Holmes à Court are no longer among the 7200 shareholders.
The Australian Financial Review reported when the former AACo chief executive David Farley was departed in July last year, bush rumours started that Lewis wanted to break AACo apart and grab the cash from selling off its land and cattle assets. But AACo chairman Donald McGauchie, the former National Farmers Federation boss, staunchly denied the rumours.
Those rumours have been denied many times by the Tavistock company too.
“We have increased our holding in AACo as a measure of our belief in the company and its endeavours to build a grand and integrated supply chain,” a spokesperson told the AFR earlier this month.
Lewis' total wealth is estimated at $4.2 billion, and he is listed as the 308th richest person on Forbes 2013 List of billionaires. Forbes reports that Lewis is the ninth wealthiest person in the UK, though he spends the majority of his year working from his luxury yacht.
Lewis is the main investor in <a href="https://en.wikipedia.org/wiki/Tavistock_Group" target="_blank" title="Tavistock Group" style="line-height: 1.3em;">Tavistock Group</a>, which owns more than 200 companies in 15 countries. 
Dr. Shehan Dissanayake has been Tavistock's representative on the board as a non-executive director of Australian Agricultural Company Ltd since April 2012. He is a senior managing director and member of the board of directors of the Tavistock Group, the privately held investment company. 
Before joining Tavistock Group in 2002, Shehan was a managing partner of Arthur Andersen.
<div class="page" title="Page 1">
<div class="layoutArea">
<div class="column">
Jason Strong, the AACo ’s general manager marketing, was been appointed managing director and chief executive officer in January while in March Troy Setter, the company’s chief operating officer, felt for a job at rival, Consolidated Pastoral Company. 
AACo owns roughly 1% of Australia's land mass. It was in 1824 that AACo was established as a land development company with the assistance of the British Parliament's Crown Grant of 1,000,000 acres in the Port Stephens area of the Colony of New South Wales.
</div>
</div>
</div>
In 1831, due to the unsuitability of the initial land grant at Port Stephens, a portion of it was exchanged for 101,000 hectares at Warrah on the Liverpool Plains and 127,000 ha on the Peel River, which was to eventually become known as Goonoo Goonoo. Shorthorn bulls were imported from England to develop the company herds.
The company, in its move north selling subdivisions of its southern estates which helped to finance the purchase of Headingly at Urandangie in Queensland in 1916 and Avon Downs in the Northern Territory in 1921.
In 1948, the geographic and enterprise diversification that the company was hastened with the purchase of Rockhampton Downs in the Northern Territory and South Galway in the Channel Country.
In 1950, AACo purchased Brighton Downs on the Diamantina in and, assisted by the Korean War Wool Boom, moved into the East Kimberley region, purchasing the properties Auvergne, Newry, Argyle Downs and Ivanhoe.
In 1963, the company purchased Wrotham Park in North Queensland. However, a period of rationalisation in 1979 saw the sale of the Kimberley Group and the purchase of the renowned Brunette Downs on the Barkly Tableland.
It was 1985 which saw the end of a 160-year ownership with the sale of Goonoo Goonoo on the Peel River which allowed the company to purchase of properties in the Gulf of  Carpentaria, Gregory Downs, Canobie and Dalgonally. In 1987, another Gulf property, Wondoola, was purchased after the sale of Caldervale.
The purchase of a further breeding station, Austral Downs in the Northern Territory followed in 1994. 
In 1996, the New South Wales property, Windy, the last vestige of Warrah, was sold, after a continuous period of ownership spanning 165 years.
</body></html>

Commercial

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Commercial

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News