<a href="https://www.apartments.com.au/developers/sunland-group">Sunland Group</a> has officially lodged plans for its first Gold Coast apartment project since the official departure of the Abedian family from the company three years ago, unveiling a new high-rise proposal for a prominent Broadbeach corner site on Old Burleigh Road.

The entity that submitted the plans is directed&nbsp;by Tom Jamieson, stepson of longtime Sunland leader Soheil Abedian, and Riaz Rezvanipour, brother-in-law of Sahba Abedian, Soheil's son.

Sunland paid $9.5 million for the 1,283 sqm site on the corner of Old Burleigh Road and Armrick Avenue late last year, and are now seeking to build a <a href="https://www.apartments.com.au/new-apartments/99-101-old-burleigh-road-broadbeach-qld-4218">42-storey tower with 81 apartments</a>.

<img alt="First look: Sunland Group returns to Broadbeach with new Old Burleigh Road tower plans" data-entity-type="file" data-entity-uuid="fea2946d-90ee-4cfc-babe-2a8ad5db2cb6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers.png?VersionId=BV0fihJw31nDIQ8ozY_h3GbS8mxDyhnm" />

Designed by <a href="https://www.apartments.com.au/architects/contreras-earl-architecture">Contreras Earl Architecture</a>, the proposed tower at 99-101 Old Burleigh Road would deliver a predominantly larger-format apartment mix aimed at the owner-occupier market. Plans include 17 two-bedroom apartments, 55 three-bedroom apartments, and nine four-bedroom residences across 35 residential levels.

The development also incorporates three basement levels, four podium parking levels, two levels of communal recreation facilities, and rooftop plant and equipment. A total of 189 car spaces are proposed, significantly exceeding the 90 spaces required under the planning scheme.

The architecture adopts a sculpted, curvilinear form, with deep wraparound balconies and integrated landscaping intended to soften the tower’s vertical expression. The planning report states the building’s “slender footprint/form provides a complimentary yet varied built form within the local streetscape” and contributes to “a varied, yet ordered skyline.”

Contreras Earl noted in its Architectural Statement that from the early stages, the project addressed a fundamental challenge: how to accommodate the required residential yield while avoiding the conventional model of a tower sitting on a rigid, fully resolved parking podium.

“The most direct response would have been to consolidate parking into a singular, flat podium and extrude a repetitive tower above,” the statement said. “While efficient, this approach would result in a consolidated built form with limited engagement with the surrounding landscape and public realm.”

Instead, the conventional podium model was “deliberately rejected”. The architects described the base of the building as “a landscaped architectural condition where structure, planting and circulation are integrated”.

“Rather than presenting a continuous built mass, the base of the building is articulated through a series of concrete planter elements that organise the podium into a fragmented system,” the statement said. “This approach reduces the perceived bulk of the lower levels while establishing a more permeable interface with the streetscape and adjacent open space.”

<img alt="First look: Sunland Group returns to Broadbeach with new Old Burleigh Road tower plans" data-entity-type="file" data-entity-uuid="9b5ace00-dd04-4875-a2dc-1b7583c2da24" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers%202_2.png?VersionId=GfaTxcd9XPo3IZ.jP9pGjYYrmx7i7iCQ" />

The site sits within the High Density Residential Zone and inside the City of Gold Coast’s unrestricted “HX” building height area, where the planning framework anticipates intensified residential development tied to the expanding light rail corridor. The planning report notes the area is undergoing “transition toward more intense development forms” given its proximity to Broadbeach, Surfers Paradise, and high-frequency public transport infrastructure.

Positioned directly opposite Broadbeach Park and within walking distance of Florida Gardens light rail station, the development would sit among a rapidly evolving stretch of Old Burleigh Road that has become one of the Gold Coast’s most active apartment development corridors.

The application joins a growing pipeline of luxury residential projects reshaping Broadbeach, including nearby developments by 5Point Projects, Polycell, and Graya.

The planning report argues the project contributes toward the Gold Coast’s long-term housing targets under the South East Queensland Regional Plan, which forecasts the need for more than 100,000 additional high-rise dwellings across the city by 2046.

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The Abedian family departed Sunland Group in late 2023, ending a four-decade association with the company, and subsequently established the private development firm Abedian &amp; Co. The group is currently delivering <a href="https://www.apartments.com.au/new-apartments/greenmount-residences-cnr-hill-street-and-marine-parade-coolangatta-qld-4225">Greenmount Residences</a> at Rainbow Bay and recently launched <a href="https://www.apartments.com.au/new-apartments/18-mary-avenue-14-18-mary-avenue-broadbeach-qld-4218">18 Mary Avenue</a> in Broadbeach.
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Joel Robinson

First look: Sunland Group returns to Broadbeach new apartment market with new Old Burleigh Road tower plans

The Minns Labor Government has established the new Bays West Delivery Authority to lead the development&nbsp;of the Bays West Precinct and Blackwattle Bay Precinct.&nbsp;

The Authority is charged with creating Sydney’s newest precinct, a thriving, connected, sustainable hub with White Bay Power Station as its cultural heart. Its vision is to build on the area’s natural, cultural and industrial history to shape a vibrant new neighbourhood.

The precinct will deliver up to 8,500 well-located homes, including a minimum of 10 per cent affordable and essential worker homes. Combine new housing with public open space, opening public access to the waterfront for the first time in more than 100 years, while retaining important deep-water facilities to support Sydney’s working harbour.

Located just minutes from the Sydney CBD and connected to a world-class metro, ferry, walking and cycling links, the Bays West precinct will rebalance housing growth towards well-serviced inner-city locations and help tackle the state’s housing crisis.

The Bays West Delivery Authority,&nbsp;an agency of the Department of Planning, Housing and Infrastructure, will report to the NSW Minister for Lands and Property who already has oversight of major precinct renewal projects including at Blackwattle Bay and Barangaroo.

As part of the broader Bays West transformation, the Minns Government recently announced that a proposal from Lendlease to redevelop part of the Bays West Precinct has progressed to Stage 2 of the NSW Government’s unsolicited proposals process.

<img alt="Sydney" data-entity-type="file" data-entity-uuid="2ed71eb9-d8e8-4fa7-b9d1-de4531dcf2f3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-25%20at%209.42.31%E2%80%AFAM.png?VersionId=IDryFIbped9SNDg72LEN_EecvhUsOPvp" />

The Minns Labor Government has also confirmed the Bays West precinct will have a new suburb name. This will be the first major suburb built in close proximity to Sydney’s CBD in decades and will encompass the area currently being referred to as Bays West, including Glebe Island and the White Bay Power Station. Served by a new Metro station just five minutes from the CBD, it will become one of the most populous suburbs in the Inner West and one of Sydney’s premier cultural destinations.

An early works program is taking shape, which&nbsp;includes the first stages of an international design competition.&nbsp;

The aim of the Bays West&nbsp;International&nbsp;Design Competition is to&nbsp;ensure design excellence is embedded in the project from the start. The competition will deliver an&nbsp;urban framework that defines the character, ambition and long-term identity of&nbsp;this&nbsp;former industrial precinct as it transitions to a vibrant, inclusive and sustainable residential&nbsp;neighbourhood.

The competition will be led by the Bays West Delivery Authority in partnership with Government Architect NSW.&nbsp;

It will launch with an invitation for a global Expressions of Interest, before moving to an invitation-only stage that will be assessed by a panel that&nbsp;will provide advice to Cabinet who will select a winner.

Premier of NSW, Chris Minns said the establishment of the new Authority is the first step in transforming the Bays West precinct into a vibrant, livable suburb minutes from the Sydney CBD and two stops from Hunter St Station on the Metro West line.

“The Authority will deliver well-located homes close to the heart of the city and integrate the new precinct with Blackwattle Bay and the new Sydney Fish Market.

“This is a generational opportunity to build a new suburb on the city’s edge and open the harbour foreshore to the public for the first time in a century.”&nbsp;

Minister for Lands and Property Steve Kamper said the new Bays West Delivery Authority established by the Minns Government will turbocharge the development of Sydney’s newest suburb.

“The Authority is working at a record pace to deliver an international design competition, planning pathways and a financial model so that this development benefits Sydney with well-designed homes in a central location, close to public transport, jobs, entertainment and essential services.

“If we want Sydney to stay liveable and affordable, we need to be bold about using underutilised government-owned land to deliver homes for the future while making sure essential working harbour functions can be accommodated.”

Bays West Delivery Authority established to "turbocharge" Sydney’s newest suburb

Around 400 additional homes could be built at Southwark Grounds on Port Road, lifting total site capacity from 1300 to around 1700 dwellings.

A recently approved code amendment would allow apartment towers of up to 14 storeys in some areas of Renewal SA’s redevelopment of the former West End Brewery.

Renewal SA Acting Chief Executive Shane Wingard said he welcomed the code amendment, with the increase in heights and homes making a positive impact on the supply of high-quality, well-connected housing close to the city.

“By going higher across some parts of Southwark Grounds, we are adding a substantial number of very well-located homes with little impact on project delivery time or planned open space,” Mr Wingard said.

Since the project officially launched in 2025, Mr Wingard said more than 12,000 enquiries had been received about living at Southwark Grounds.

“The very strong early interest we’ve seen since homes were first released in the precinct reinforces our plans to create more housing opportunities,” he said.

The Southwark Grounds code amendment was launched in December last year, with community engagement undertaken over five weeks from January.

It proposed increasing maximum building heights from eight to 14 storeys on the eastern section of Southwark Grounds, and to 12 storeys across the remainder of the site, with minimum building heights ranging from two to four storeys.

The code amendment was implemented through an Early Commencement policy in late January, allowing developers to quickly explore the viability of increased height and housing yield while other planning processes continue.

One of the first developers delivering apartment sites have already finalised redesigns to increase the number of apartments following the code amendment.

Samaras’ development adjacent to the future Colonel Light Park is now planning to deliver 125 apartments across 11 storeys, significantly greater than original plans of around 50 apartments across four storeys.

The developer is also exploring the potential for additional affordable housing outcomes.

Most of the apartments at Southwark Grounds will be delivered within a master-planned precinct on a large parcel of land on the eastern portion of the site, covering around two-thirds of its 8.4 hectares.

Wingard said detailed precinct planning over the coming months may identify further opportunities to increase yield further that could see total apartment numbers at Southwark Grounds, exceed this number.

Affordable homes at Southwark Grounds will also see a net increase, with Renewal SA maintaining its commitment to a minimum of 20 per cent affordable housing across the development.

&nbsp;

&nbsp;

Civil works have begun across the site, with construction under way on the first new roads surrounding a townhouse precinct in the south‑west corner of Southwark Grounds. This includes Renewal SA’s 17 Founder’s Row homes, which are on track for completion by Christmas.

“We expect to have people living at Southwark Grounds by the end of the year, so delivering roads and public spaces for those residents is among our highest priorities.”

Construction of 40 townhouses off Anderson Street, known as West Village and being delivered by Contour, is forecast to begin in mid‑2026. Kolabb’s Anderson Lane development will follow shortly after, delivering a further 26 townhouses.

Southwark Grounds is a state government‑led urban renewal project now set to deliver around 1,700 homes over the next decade.

Homes will be supported by a supermarket, a range of retail and hospitality offerings anchored by a revitalised Walkerville Brew Tower, a childcare centre, car parking and well‑connected public spaces.

400 new homes planned for Adelaide's former West End Brewery site

Brisbane developer&nbsp;<a href="https://www.apartments.com.au/developers/cavcorp">Cavcorp</a> has lodged plans for a new mixed-use residential development at <a href="https://www.apartments.com.au/new-apartments/55-wyandra-street-teneriffe-qld-4005">55 Wyandra Street</a>, Teneriffe, anchored by an 85-metre public laneway designed to reconnect the suburb’s riverfront with the Gasworks precinct.

The buildings, known as Teneriffe House and Teneriffe Lane, would replace the existing Queensland Cotton head office site with a 15-storey residential tower transitioning to eight storeys toward Helen Street. The project has been designed by Plazibat Architects and lodged as a code assessable development application for 93 apartments across a 3,401 sqm mixed-use site within the Newstead and Teneriffe Waterfront neighbourhood plan.

Central to the scheme is the transformation of an existing service easement into a publicly accessible cross-block connection linking Wyandra and Helen Streets. Cavcorp says the new laneway will act as both a pedestrian shortcut and a landscaped civic space between the Teneriffe Riverwalk, ferry terminal, and Gasworks precinct.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="26e7f058-b065-4de8-b13d-a2b8cb64dfcc" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/bldg.png?VersionId=sELS0ZKYi361oYipUa1BIKfe_.DLZoFV" />

“The revised proposal delivers a legacy public-realm cross-block link, permanently secured for community use, transforming an existing private easement into a safe, high-quality pedestrian connection between the Teneriffe heritage riverwalk and the Gasworks–Long Island precinct,” the planning report states.

The laneway will sit beneath a large subtropical loggia integrated into the podium levels of the development. The design incorporates deep landscaping, water gardens, lobby spaces, business lounges, and ground-floor apartments to create what Cavcorp describes as a climate-responsive “urban verandah.”

The tower itself has been designed as a slender form with recessed floorplates and curved translucent corners inspired by contemporary Japanese architecture. The building height aligns with the Commercial Road precinct controls, which permit towers up to 15 storeys within proximity to Longland Street.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="a8a17d40-43b6-4718-b3fd-67676fcbb485" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers%202_1.png?VersionId=i3VwDtp5AmL_8InW7w4qRbDFEpb744Jt" />

The project will comprise a mix of larger-format apartments aimed at owner-occupiers, downsizers, and families. The proposed apartment mix includes 11 loggia apartments across the lower levels, 50 four-bedroom Sky-Terrace apartments from levels three to seven, and 32 Sky-Pool Homes occupying the upper tower levels. The Sky-Pool Homes will feature private thermal plunge pools integrated into oversized balconies.

According to the application, the apartments are intended to reinterpret the scale and character of Teneriffe’s woolstore conversions and Queensland homes within a vertical residential format.

“The sky-pool homes build on Cavcorp’s previous projects and introduce a distinct apartment typology to Teneriffe, informed by both local and international precedent and responding to an identified market demand for enhanced safety, space and amenity,” the planning submission notes.

A major focus of the proposal is its five-level wellness and lifestyle offering, extending from the basement through to the rooftop.

Amenities proposed include a rooftop Swim &amp; Racquet Club with a 25-metre Olympic lap pool and tennis court, coworking spaces and libraries, golf simulators, wine storage, concierge facilities, business lounges, pet wash areas, and rooftop longevity-focused wellness spaces with spas, outdoor fitness zones, and landscaped terraces.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="944b352c-49b9-4247-a4c6-5967b4b69fda" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/amenity.png?VersionId=Ed_qKjAtMwFT.5gfl3jiA9QwdWxSMsaX" />

All parking will be concealed within basement levels accessed from Wyandra and Helen Streets. Cavcorp says the deep-basement engineering approach allows the entire ground plane to prioritise landscaping, pedestrian movement, and active frontage rather than vehicle infrastructure.

The development continues Cavcorp’s concentration in Newstead and Teneriffe, where the Brisbane developer has delivered a number of apartment projects including Lucent, Le Bain, and Luminare, as well as the Long Island Wellness Precinct nearby. Several of those projects have received national design and architecture awards, including recognition under Brisbane’s “Buildings that Breathe” program.

Cavcorp unveils wellness-focused Teneriffe House and Teneriffe Lane apartment buildings

Focus Group Investments has lodged plans for a new apartment development at <a href="https://www.apartments.com.au/new-apartments/64-70-hanover-street-fitzroy-vic-3065">64–70 Hanover Street</a> in Fitzroy, seeking to utilise the Victorian Government’s recently introduced Great Design Fast Track pathway to accelerate approvals for the project.

The proposal is among the latest developments to emerge through the state-led initiative, which was established to fast-track well-designed residential projects in activity centres and transport-connected inner-city locations. The pathway allows qualifying developments that meet elevated design and housing benchmarks to bypass traditional council planning timeframes and instead be assessed directly by the Department of Transport and Planning.

Designed by SJB, the development will comprise a mix of apartments above activated lower levels, with a strong focus on architectural articulation, landscaping, and communal amenity. The design response seeks to balance the industrial character of Richmond’s former warehouse precincts with a more contemporary residential form.

<img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="abea51cc-d85b-479e-9aef-a589f3b37ca7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/ground.png?VersionId=e1Kf8EyPWwyiVumtqQ4rM5S4GpOR3CCz" />

Proposed are 63 new dwellings, a wide ranging mix of studio, one-, two-, and three-bedroom apartments, and townhouses and duplexes. They will be spread across a part-three, part-eight storey building.

The Planning and Urban Context Report by Tract says the development is of an "exemplary architectural standard" and has been carefully crafted by SJB Architects.

"Dwellings&nbsp;will benefit from excellent access to natural light, cross-ventilation opportunities and extensive communal space," the report noted.

The architectural material highlights the project’s integration of landscaped elements and communal spaces throughout the building. The proposal also incorporates sustainability initiatives aligned with the Victorian Government’s push for higher-performing apartment developments under the fast-track program.

The Great Design Fast Track was unveiled by the Victorian Government in 2024 as part of a broader housing supply strategy aimed at accelerating the delivery of new homes. Projects assessed through the pathway must demonstrate high-quality architecture, sustainability outcomes, and housing diversity while being located close to public transport and existing infrastructure.

<img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="afdbe834-8dc4-4a77-a943-ba07bc927348" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/site_11.png?VersionId=0J657j.TaChAZfp93wqJYBTqSsnREJx2" />

Focus Group, founder and led by Paul De Lutiis, is increasingly active across Melbourne’s inner suburbs, targeting well-connected urban renewal locations suited to medium and higher-density residential development. The Fitzroy proposal continues that strategy, leveraging the area’s strong transport links, established retail amenity, and proximity to the CBD.

Fitzroy has been one of the most popular spots for developers and buyers in recent years. The likes of PACE Development Group, SMA Projects, Crema Group and Chapter Group, currently selling projects in the suburb.

First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Fitzroy apartments

Melbourne

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Two adjoining Little Collins Street properties sold for $22.35 million in a heated auction which saw a number of well known interested parties battle it out for the prime commercial space.
The Melbourne Club, the private social club established in the 1830s who are located across the road, were an unbidder, as was Andrew Cannon, the honorary consul to Monaco.
The buyer was Rob Phillpot, co-founder of tech business Aconex, who bought the two separate properties at <a href="https://www.realcommercial.com.au/property-retail-vic-melbourne-503178230" target="_blank">37 Little Collins Street</a> (below) and <a href="https://www.realcommercial.com.au/property-retail-vic-melbourne-503178246" target="_blank">39-41 Little Collins Street</a> (above).
He paid $16.5 million for the bigger 39-41 Collins Street which is currently tenanted by Italian restaurant Lupino.
It was sold by the Mathews family.
There were 91 bids for the three level building which drove the price to more than double the vendors reserve price. It sold on a yield of 1.16%.
Next door, a two storey building currently tenanted by Mathew McConnell’s Bar Lourinha drew 66 bids with Phillpot paying $5,850,000. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/6/13/Collins2.jpg" alt="">
Colliers International’s Melbourne City Sales team of Oliver Hay, Daniel Wolman, Chris Ling and David Sia handled the auction campaign.
 Hay said the interest generated was unparalleled, resulting in more than 250 enquiries, 49 inspections and 52 contracts distributed. 
The interest was primarily driven by investors and future owner-occupiers desperate to secure an asset in the tightly held ‘Paris End’.
“With the favourable economic conditions, we are seeing countless active buyers and under-bidders from such campaigns eager to secure commercial assets that come to the market, particularly properties with rental upside and value-add opportunities within the Melbourne CBD grid,” Hay said. 
Late last year Phillpot <a href="/news/melbourne-construction-digital-entrepreneur-rob-phillpot-scores-both-block-gatwick-penthouses">bought the two penthouses</a> atop The Gatwick Hotel, the heritage-listed building in St Kilda renovated on The Block.
 
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jrobinson-rf4aSBido9

Melbourne Club miss out on adjoining Collins Street Paris End buildings

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Logistics companies and distribution centres are driving increased demand for south-east Melbourne industrial property, according to Colliers International.
Colliers International’s Harry Larwill said new and existing occupiers are competing strongly for properties for sale and lease based on availability of significant hardstand.  
"More than 20% of our running requirements and enquiry are businesses who require some form of hardstand, which in itself is not surprising." Larwill stated.
“With land supply being such a rare commodity and reaching record prices within the eastern industrial sector, tenants and occupiers are looking for more affordable alternatives." 
The alternatives are generally existing facilities on increased land allotments which allow for future extension and where affordable alternatives can be sought.
Colliers International recently leased a property at 7 Newcomen Road in Springvale at $130/sqm.  
"The 2,349 sqm site, which is home to a 1,000 sqm building and significant hardstand, leased for $10,000 dollars more than a building double the size at 26 Lascelles Street which had no hardstand," Larwill added.
“We also had five different parties reach lease agreement stage at 25-29 Nissan Drive in Dandenong recently, at $88/sqm. This property included a 1,033 sqm building on 1,900 sqm of land."
“In Boronia, we sold 8-10 Wadhurst Drive within a month at a rate of $1,800/sqm for a 1,240 sqm building on 2,509 sqm of land.
“These recent examples all highlight the significant benefit landlords and vendors are reaping when they are able to offer a substantial hardstand component with their property,” he added 
In the latest sale, Larwill and colleagues Andrew Chrapot and Richard Wilkinson sold a 468 sqm showroom office on auction day.
Situated on 1,846 sqm of land at 2139 Princes Highway in Clayton (pictured above), the showroom office was sold to a local developer for more than $1,300/sqm (on land). 
“The ample hardstand component of the property attracted keen interest, and the strong sales result an indication of the increased value buyers are putting on land within eastern industrial locations,” Mr Larwill concluded.
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j.ballantyne1990-6AQqhLzZaK

Logistics and DCs drive increased demand for industrial space in South-East Melbourne: Colliers

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A new Italian café and bar, Valentini's is the latest addition to the Melbourne’s Equitable Place.
Fitzroy agent Alex Shum negotiated the five-year lease with a five-year term for the 101 sqm space at 12 Equitable Place at $110,000 per annum on behalf of a private investor.
The deal reflected a building rate of $1,090 per sqm.
The new offering, Valentini’s, will offer old-school Italian foods and wines, and high-quality coffee.
It features a full wall mural painted (pictured) by Italian artist Giorgio Marzo, artist name Smoe.
Valentini’s is the latest venture from an experienced operator in the hospitality industry who has owned, operated and managed venues in South Melbourne, Carlton and the CBD. 
Mr Shum said the enquiry received for this space came from "a range of hospitality operators and fashion retailers looking to secure their own place in Melbourne’s famous laneway culture,”
Equitable Place already offers unique hospitality offering such as Brown Bagels, B’cos Brazil, Blank, Viet St., Kenny’s Bakery, Dodee Paidang and Madam I’m Adam.
It attracts a strong flow of customers from Little Collins Street, Collins Street and Elizabeth Street, and Shum said Valentini’s would bring a strong complementary offering.
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Newly leased Italian venue, Valentini's offered in Melbourne’s Equitable Place

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EXPERT OBSERVER
Melbourne shows that even in a city with a distinct overall trend, there are many diverse scenarios in play. Melbourne generally continues to decline but different sectors are producing different results, especially with price outcomes.
Apartment markets in particular are holding up well and there are more suburbs with rising unit prices than those with prices down. That runs contrary to the general media rhetoric of prices down across the board, thanks to generalised data and bad analysis.
Across the Melbourne metropolitan area, Hotspotting has analysed price trends in 435 house and unit markets and found that 44% have median prices higher than a year ago, while 56% have prices lower than last year.
Markets with significant declines in prices are relatively rare. Only 35% of the 435 suburban markets analysed have had median prices fall by more than 5% in the past 12 months – and it’s mostly the top end markets where prices have dropped a lot. Conversely, the locations where prices are still up substantially are primarily in the outer-ring areas where buyers are chasing affordability.
But, as we frequently observe, prices take time to respond to market realities, as shown by sales activity. The trends with buyer demand suggest Melbourne overall is at the bottom of the trough – suburbs with rising demand are virtually non-existent (the worst outcome since we started our quarterly surveys four years ago) and there are 73 suburbs which we have classified as “decline” markets (more than Sydney currently has).
In terms of trends with buyer demand, the steadiest markets are the areas where most suburbs are “plateau” or “consistency” markets. These are mostly the more affordable areas, either outer-ring precincts or middle market ones.
The City of Melton LGA on the western outskirts of the Melbourne metro area is a stand-out, both with sales trends and price outcomes. There are no “rising” suburbs in terms of sales activity but there are 11 classified as “plateau” markets. And many of the Melbourne suburbs where median prices have risen by more than 10% in the past 12 months are in the Melton LGA.
Other municipalities with steady buyer demand include the Hume LGA in the north, Casey in the far south-east, Brimbank in the western suburbs and Wyndham in the far south-west, as well as middle-ring areas like Darebin, Nillumbik and Moreland. The only LGAs in the Melbourne metro areas with no suburbs classified as “decline” markets are those three middle-ring areas, plus Melton City in the far west.
The middle-market Kingston LGA demonstrates the many different scenarios that can be found in real estate, even within one municipality. We have ranked 13 suburbs in the Kingston LGA: 2 rising, 6 plateau, 2 consistency and 3 decline. The rising suburbs are Chelsea and Chelsea Heights, the only two suburbs across Melbourne to be identified as having rising buyer demand in this Autumn survey.
The strongly-emerging trend is the number of Melbourne locations with significant declines in sales activity – and they are found right throughout the metropolitan area.
Many of the upmarket areas have multiple decline suburbs, including the LGAs of Boroondara, Glen Eira and Melbourne. But middle-markets LGAs like Whitehorse and Monash, as well as more downmarket locations like Greater Dandenong, have multiple decline markets.
And suburbs classified as decline markets are now starting to appear in the outer-ring LGAs like Casey and Hume, which provides further evidence that the previous growth cycle is over.
But the worst of the decline markets is the Mornington Peninsula – in this outlying LGA, we have classified 10 suburbs as decline markets.
Price levels remain quite resilient in many parts of Melbourne. Among the housing markets, 36% of suburbs have median prices higher than a year ago, while in the apartment sector 57% have higher prices.
In the housing markets, 94 suburbs have median prices higher than last year, while among the apartment markets, 98 suburbs have higher prices (compared to 73 with lower medians).
In terms of locations with significant price decline (a drop of more than 5% in the median price), only 38% of housing markets and 25% of apartment markets are in this category.
The suburbs with major decline in median house prices are all millionaire suburbs. Those where the median house price has dropped more than 20% in the past 12 months are Box Hill, Brighton, Canterbury, Carlton, Caulfield North, Hawthorn, North Melbourne, South Melbourne, South Yarra, St Kilda, St Kilda East and Toorak. 
The biggest drops in median house prices have occurred in Box Hill (down 36%), St Kilda (35%), Toorak (31%) and Hawthorn (30%).
Conversely, the areas still delivering good price growth are at the affordable end of the market. Of 11 suburbs with median house price growth above 10% in the past year, 5 are in the Melton LGA, 2 are in Hume and 2 are in Casey. Virtually all of these 11 suburbs are suburbs with median house prices under $600,000.
Terry Ryder is the founder of hotspotting.com.au
<a href="https://mailto:ryder@hotspotting.com.au">ryder@hotspotting.com.au</a>
twitter.com/hotspotting
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terryryder-YECXbqmri2

Multiple property scenarios producing different results in Melbourne: Hotspotting's Terry Ryder

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GUEST OBSERVATION
Melbourne is growing faster than most cities of similar size in developed countries. Population growth averaged <a href="https://www.abs.gov.au/websitedbs/D3310114.nsf/Home/2016%20QuickStats" target="_blank">more than 2.5% a year between 2011 and 2018</a>.
Other international cities that are also known for their livability typically recorded slower population growth than Melbourne. For example, over the decade to 2016, <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2018-08-14/melbourne-loses-most-liveable-city-title-to-vienna/10117338" target="_blank">Vienna</a> grew <a href="https://www.ceicdata.com/en/austria/population-by-region/population-vienna" target="_blank">about half as fast as Melbourne</a> and <a href="https://theconversation.com/canadas-most-livable-city-is-not-vancouver-its-calgary-101957" target="_blank">Greater Vancouver</a> about <a href="https://www12.statcan.gc.ca/census-recensement/2016/as-sa/fogs/spg/Facts-cd-eng.cfm?GC=5915&amp;GK=CD&amp;Lang=Eng" target="_blank">one-third slower</a>. Vienna and Vancouver are also smaller cities than Melbourne.
Melbourne is also fast becoming an economically and socially polarised city. Cheaper housing may attract people to outer suburban living, but it comes at a price.
If Melbourne is divided into inner, middle and outer urban areas, each containing about one-third of the city’s jobs, the greatest share of the city’s population (46.6%) lives in the outer local government areas (LGAs). This share is increasing as population grows rapidly, accounting for <a href="http://www.abs.gov.au/websitedbs/D3310114.nsf/%20Home/2016%20QuickStats" target="_blank">57.5% of the growth between 2011 and 2016</a>.
<a href="https://images.theconversation.com/files/274852/original/file-20190516-69213-jun1wc.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/274852/original/file-20190516-69213-jun1wc.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Inner, middle and outer Melbourne, each area holding approximately one-third of jobs in Melbourne. Author provided
At the same time, these outer LGAs have the fewest jobs per 1,000 residents. Many workers have to make long commuting trips, with associated congestion impacts.
What are the consequences of this pattern of growth?
Our <a href="https://sustainable.unimelb.edu.au/publications/research-papers/melbourne-how-big" target="_blank">newly published research</a> examines the capacity of Melbourne residents to capture income, as well as the findings on some important social outcomes.
Population growth and jobs in Melbourne
<a href="https://images.theconversation.com/files/275049/original/file-20190517-69182-582byv.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/275049/original/file-20190517-69182-582byv.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
<a class="source" href="http://www.abs.gov.au/websitedbs/D3310114.nsf/%20Home/2016%20QuickStats" target="_blank">From Australian Bureau of Statistics (n.d.), Quickstats</a>, Author provided
Over the 1992-2017 period, relative to Victorians as a whole, residents in each of the six fastest-growing outer Melbourne LGAs (Cardinia, Casey, Hume, Melton, Whittlesea and Wyndham) <a href="https://sustainable.unimelb.edu.au/publications/research-papers/melbourne-how-big" target="_blank">went backwards in terms of their share of income</a> from economic activity.
The findings at LGA level show a number of quite strong spatial associations. Differences in travel time or distance to central Melbourne have particularly clear impacts. As travel times from an LGA to central Melbourne increase, we see declines in:
<ul>
<li>population and job densities</li>
<li>median house prices</li>
<li>capital stock per person</li>
<li>the proportion of higher educated people</li>
<li>the proportion of jobs that are high-tech</li>
<li>LGA productivity</li>
<li>trust in others</li>
<li>the proportion of people living near public transport, with public transport use to get to work also declining.</li>
</ul>
Proportion of LGA residents who think most people in general can be trusted
<a href="https://images.theconversation.com/files/275051/original/file-20190517-69186-1dr8k5f.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/275051/original/file-20190517-69186-1dr8k5f.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
<a class="source" href="/news" target="_blank">health.vic</a>, Author provided
We see increases in:
<ul>
<li>open space per resident</li>
<li>car use to get to work</li>
<li>the proportion of commutes longer than two hours</li>
<li>reports of heart disease and obesity.</li>
</ul>
Hectares of public open space per 1,000 residents
<a href="https://images.theconversation.com/files/275055/original/file-20190517-69182-3nw5lk.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/275055/original/file-20190517-69182-3nw5lk.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Victorian Planning Authority data, Author provided
These correlations suggest cheaper housing and better access to open space, which may attract people to outer suburban living, come at a price. These costs are commonly associated with the lower population and job densities at greater distances from central Melbourne.
The fastest-growing outer suburbs tend to show lower levels of some of the drivers or social conditions needed to achieve social inclusion, well-being and health. For example, additional challenges can be seen in <a href="https://sustainable.unimelb.edu.au/publications/research-papers/melbourne-how-big" target="_blank">higher levels of child development vulnerability</a>, which tend to lead to early school leaving and youth unemployment. This can reduce the ability of individuals to be productive, while at the same time increasing societal expenses in areas such as welfare payments, health costs, law enforcement and remediation costs of family violence and substance abuse.
Youth (age 15-19) unemployment rates by LGA
<a href="https://images.theconversation.com/files/275053/original/file-20190517-69204-1od64v.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/275053/original/file-20190517-69204-1od64v.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
<a class="source" href="/news" target="_blank">health.vic</a>, Author provided
Increasing inequality, social, congestion and productivity costs are linked with infrastructure spending that has been too low to meet the needs of the rapidly growing population. The <a href="https://sustainable.unimelb.edu.au/publications/research-papers/melbourne-how-big" target="_blank">research</a> suggests a backlog of around A$125 billion to enable the six fastest-growing outer LGAs to achieve growth in gross regional product per resident of working-age population in line with the state average. Additional spending will be needed to cater for subsequent population growth and to tackle problems beyond the six outer growth LGAs, such as traffic congestion and crowded public transport.
What can be done about this?
Steps can be taken to reduce the growing scale of future infrastructure spending. These include a more determined focus on delivering the intent of <a href="https://www.planmelbourne.vic.gov.au/the-plan" target="_blank">Plan Melbourne 2017-50</a> that Melbourne becomes a more compact city. This would mean a much higher share of population growth is located in inner and middle suburbs with good public transport access, particularly to the CBD and to the inner and middle urban <a href="https://vpa.vic.gov.au/faq/national-employment-innovation-cluster/" target="_blank">National Employment and Innovation Clusters</a> identified in the plan.
Outer urban densities also need to increase. There must be a greater focus on delivering a city of 20-minute neighbourhoods. This calls for higher levels of local services, including bus and active transport opportunities (cycling and walking), provided <a href="https://theconversation.com/build-in-good-services-from-day-one-for-healthier-communities-lessons-from-selandra-rise-58790" target="_blank">in a more timely manner</a>. A focus on big infrastructure projects can crowd out attention on such locally important priorities.
Regional Victoria can play a <a href="https://theconversation.com/this-is-how-regional-rail-can-help-ease-our-big-cities-commuter-crush-81902" target="_blank">bigger role in catering for population growth</a>. However, to do so sustainably it needs to substantially increase its non-farm productivity. This was about one-fifth higher than in Melbourne 20 years ago but is now about one-fifth lower, as Melbourne’s knowledge economy has boomed.
The research does not take account of many other impacts of high population growth. Among these are the <a href="https://theconversation.com/elephants-and-economics-how-to-ensure-we-value-wildlife-properly-107184" target="_blank">loss of ecosystem services</a>, the <a href="https://theconversation.com/to-protect-fresh-food-supplies-here-are-the-key-steps-to-secure-city-foodbowls-114085" target="_blank">loss of food-growing land through urban sprawl</a>, <a href="https://theconversation.com/cape-town-is-almost-out-of-water-could-australian-cities-suffer-the-same-fate-90933" target="_blank">increasing freshwater scarcity</a>, and the <a href="https://theconversation.com/four-ways-our-cities-can-cut-transport-emissions-in-a-hurry-avoid-shift-share-and-improve-106076" target="_blank">transport sector’s greenhouse gas emissions</a>. These issues all have impacts on productivity, health and well-being.<img src="https://counter.theconversation.com/content/117244/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
John Stanley, Adjunct Professor, Institute of Transport and Logistics Studies, University of Sydney Business School, University of Sydney
Janet Stanley, Principal Research Fellow – Urban Social Resilience, Melbourne Sustainable Society Institute, University of Melbourne
Peter Brain, Executive Director, National Institute of Economic and Industry Research
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/rapid-growth-is-widening-melbournes-social-and-economic-divide-117244" target="_blank">original article</a>.
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Rapid growth is widening Melbourne’s social and economic divide

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AFL premiership fancies GWS Giants have taken up a lease for a 77 sqm Docklands suite near the league’s headquarters in the Melbourne CBD. 
Samuel Friend and Stephen Land of Fitzroys negotiated the three-year lease with a two-year option at Suite 101/198 Harbour Esplanade, just moments from AFL House and the adjacent AFL-owned Marvel Stadium.
The Giants agreed to pay $450 per sqm with 3% annual increases for its new Melbourne offices.
Friend said more than 50 enquiries were received during the campaign.
He stated, "the suite offers ample natural light with fantastic views west overlooking the harbour and towards the Bolte Bridge, and as expected attracted tenants from a range of industries including tech companies, law firms, not-for-profits and media agencies."
“For the Giants, the suite presented an excellent opportunity to set up an office conveniently close to AFL House and enhance their communication capabilities with the league.
“Spaces of this type attract a great deal of attention when they become available, as vacancies across Docklands have continued to firm in the first several months of 2019 and are now at the tightest level of any of Melbourne’s central precincts," Friend concluded.
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GWS Giants take up Dockland lease near AFL House

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GUEST OBSERVATION
More shared spaces, safer streets and fewer cars in the city are all part of a <a href="https://www.melbourne.vic.gov.au/news-and-media/Pages/Ten-year-transport-plan-to-create-more-space-for-people.aspx" target="_blank">newly released 10-year plan</a> by the City of Melbourne. <a href="https://www.melbourne.vic.gov.au/about-council/committees-meetings/meeting-archive/pages/Future-Melbourne-Committee-7-May-2019.aspx" target="_blank">This evening</a>, Town Hall will consider the ambitious <a href="https://www.melbourne.vic.gov.au/about-council/committees-meetings/meeting-archive/MeetingAgendaItemAttachments/856/15289/AGENDA%20ITEM%206.4.pdf" target="_blank">draft transport strategy</a> that would boost pedestrian, cycling and tram access across the CBD’s <a href="https://ictedservices.typepad.com/.a/6a00e5537796fd883401b7c951605c970b-pi" target="_blank">Hoddle Grid</a>.
<a href="https://images.theconversation.com/files/272690/original/file-20190506-103053-17wr7re.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/272690/original/file-20190506-103053-17wr7re.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" alt=""></a>
A map of central Melbourne, with the Hoddle Grid, including the ‘little’ streets, at its heart. <a class="source" href="https://commons.wikimedia.org/wiki/File:Map_of_central_Melbourne_3384553.PNG" target="_blank">Wikimedia</a>, <a class="license" href="http://creativecommons.org/licenses/by-sa/4.0/" target="_blank">CC BY-SA</a>
A significant amount of on-street parking and road space would be reallocated to walking, cycling and greenery. Some “little” streets would be converted to shared zones that give priority to pedestrians, with reduced speed limits. <a href="https://www.sfmta.com/demand-responsive-parking" target="_blank">Variable parking pricing</a> would be trialled and <a href="https://www.gizmodo.com.au/2015/12/how-to-fix-traffic-congestion-in-australia/" target="_blank">congestion charging</a> not be ruled out.
The strategy recognises the role of technology in delivering community benefits. It supports trials of <a href="https://www.propertyobserver.com.au/https://www.mdpi.com/2071-1050/11/5/1262" target="_blank">shared mobility</a> (all types of conveniently accessible rental vehicles) and <a href="https://theconversation.com/for-mobility-as-a-service-maas-to-solve-our-transport-woes-some-things-need-to-change-105119" target="_blank">tech-enabled seamless travel solutions</a> (people using mobility as a service, typically via an app and single payment platform, when they need it).
The result of these digital technology-driven mobility shifts is a lower proportion of people owning vehicles.
The strategy also foresees transport in the city will be emissions-free by 2050. On-demand <a href="https://theconversation.com/get-set-for-take-off-in-electric-aircraft-the-next-transport-disruption-114178" target="_blank">travel and deliveries by air</a> could be in the mix of solutions.
<a href="https://images.theconversation.com/files/272671/original/file-20190506-103078-14bcp3p.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/272671/original/file-20190506-103078-14bcp3p.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" alt=""></a>
An analysis of public feedback to the city council on walking in the city. <a class="source" href="https://participate.melbourne.vic.gov.au/transportstrategy" target="_blank">Participate Melbourne/Melbourne City</a>
While the plan might seem radical, these policies are sensible, comprehensive and crucial to the city’s future. They’re aligned with <a href="https://theconversation.com/four-ways-our-cities-can-cut-transport-emissions-in-a-hurry-avoid-shift-share-and-improve-106076" target="_blank">best practice</a> in leading global cities.
Some cities have far more aggressive policies and emissions reduction targets. Around the world, <a href="https://www.businessinsider.com.au/cities-going-car-free-ban-2018-12?r=US&amp;IR=T" target="_blank">15 cities</a> are already starting to ban cars altogether from urban centres.
Melbourne’s transport strategy “refresh” follows a year of reviews and public consultation (you can see the public responses <a href="https://participate.melbourne.vic.gov.au/transportstrategy" target="_blank">here</a>).
There will be implementation challenges, which the draft strategy acknowledges. It notes the need to provide access for people with disability.
The plan also includes ongoing access for commercial vehicles, delivery vans and emergency services.
Responding to travel trends
The new strategy recognises that Melburnians’ travel habits have changed and will continue to adapt to modern-day urban living. This includes recent trends towards increased use of public transport and active travel options such as cycling and walking.
Today, walking accounts for about 90% of all travel in the Hoddle Grid, yet pedestrians are <a href="https://www.theage.com.au/national/victoria/cbd-drivers-could-spend-more-time-at-red-lights-under-council-plan-20190502-p51jkg" target="_blank">allocated only 24% of street space</a>.
Across Melbourne since 2003, the <a href="https://www.bitre.gov.au/publications/2018/files/infrastructure-statistics-yearbook-2018.pdf" target="_blank">growth in public transport use has been around three times the growth in private transport use</a>. Over this time the <a href="https://www.bitre.gov.au/publications/2018/files/infrastructure-statistics-yearbook-2018.pdf" target="_blank">growth in car use has been slower than population growth</a>.
Growth in private and public transport passenger kilometres in Melbourne since 2003
<img src="https://images.theconversation.com/files/272643/original/file-20190505-103045-1dxxfi3.JPG?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
More than 900,000 people move into, within and through the municipality each day, the strategy notes. This is expected to climb to 1.4 million people a day in 2036. The city’s streets and places would need to adapt to support these changes.
Another policy in the draft strategy is to reduce through-traffic. Around 43% of cars coming into the city are heading for a destination beyond the Hoddle Grid. Spencer Street, King Street and William Street carry most of that traffic.
<img src="https://images.theconversation.com/files/272657/original/file-20190505-103053-1sw4vip.JPG?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
Proportion of through-traffic entering the Hoddle Grid at each entry point. <a class="source" href="https://www.melbourne.vic.gov.au/about-council/committees-meetings/meeting-archive/MeetingAgendaItemAttachments/856/15289/AGENDA%20ITEM%206.4.pdf" target="_blank">City of Melbourne, Draft Transport Strategy 2030, page 53</a>
The strategy calls for the city council to work with government to contain through-traffic to freeways and arterial roads. Removing non-essential vehicle trips can free up space to make streets safer and more efficient. It also improves access for emergency vehicles, on-road public transport and deliveries.
Rethinking transport priorities
The draft strategy represents a call for action to overcome unsustainable transport practices. For Melbourne to thrive, the transport priorities need to be rearranged to meet travel demand, emissions targets and citizens’ changing needs.
In adopting this approach, the strategy reflects the changing landscape and emerging trends of urban mobility, as well as community expectations.
<img src="https://images.theconversation.com/files/272653/original/file-20190505-103068-t7wyc4.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
The changing landscape of urban mobility. <a class="source" href="https://www2.theiet.org/resources/books/transport/lowcarbmob.cfm" target="_blank">Low Carbon Mobility for Future Cities: Principles and Applications</a>, Author provided
The draft strategy gives priority to policy solutions that will improve liveability and promote a safe and healthy city. These focus on active modes of transport, integrating transport and land use, investments in pedestrian-oriented initiatives, optimising use of scarce space and encouraging public transport.
The strategy also looks to overcome barriers to urban innovation. It points to the need for more agile regulation to support emerging modes of travel such as <a href="https://theconversation.com/the-problem-isnt-dockless-share-bikes-its-the-lack-of-bike-parking-102985" target="_blank">dockless bikes</a> and <a href="https://theconversation.com/banning-tiny-vehicles-would-deny-us-smarter-ways-to-get-around-our-cities-113111" target="_blank">e-scooters</a>.
What’s the next step?
Councillors will consider the draft strategy at a <a href="https://www.melbourne.vic.gov.au/about-council/committees-meetings/meeting-archive/pages/Future-Melbourne-Committee-7-May-2019.aspx" target="_blank">Future Melbourne Committee meeting today</a>. If endorsed, it will be released for further public consultation and feedback for six weeks.
The strategy will require a shift in travel behaviour. Whether the public embraces or objects to the new policy directions remains to be seen. The details will be critical.
Many would be excited by this vision and would want certain policies rolled out today, not by 2030. Others might be sceptical and some would still want to drive into the inner city, even if other attractive travel options are made available.
If well executed and implemented, the strategy’s proposals will improve liveability and access to the city. Together with some state government projects, such as <a href="https://metrotunnel.vic.gov.au/about-the-project" target="_blank">Melbourne Metro</a>, these policies will help to modernise the city’s infrastructure to meet the needs for smart and sustainable growth and jobs.<img src="https://counter.theconversation.com/content/116518/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
Hussein Dia, Professor of Future Urban Mobility, Swinburne University of Technology
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/move-away-from-a-car-dominated-city-looks-radical-but-its-a-sensible-plan-for-a-liveable-future-116518" target="_blank">original article</a>.
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Move away from a car-dominated city looks radical but it’s a sensible plan for a liveable future

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The Melbourne accommodation market continues to enjoy buoyancy, according to HTL Property’s latest report.
The research showed strong increases in visitor numbers, aided by attraction to the city via its many international and local sporting events, together with world-class conference facilities, has kept occupancy levels high, and in turn, ADR and RevPAR continue to be elevated.
“Victoria is a highly sought-after accommodation market to invest in, driven by its variety of visitors,” said HTL Property’s Head of Research Vanessa Rader.
“Strong international visitors dominated by the family market enjoy the Melbourne CBD location; while domestic visitors like to travel further out of town in order to explore the natural wonders, as well as the wine regions.
“Melbourne has done much to promote its town and attract visitors; as evidenced by the various sporting events regularly held, together with the growing arts scene the city's attraction as a conference destination, has kept occupancy high and ADR competitive.
“This market has seen some new supply added and will continue to do so over the next few years, which we anticipate will keep these indicators stable.
“While investors (notably offshore buyers) will continue to aggressively contest these assets, keeping investment yields some of the lowest in the country.”
<a href="https://www.propertyobserver.com.au/images/2019/5/7/mel%201.jpg" target="_blank">Click here</a> to enlarge: 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/5/7/mel%201.jpg" alt="">   HTL Property Director of Asia Pacific Region Andrew Joliffe said demand for accommodation assets remained high, however limited quality stock available to the market had resulted in 2018 recording a record low in sales volumes.
“Sales turnover for 2018 has exceeded $400 million, which is approximately 40% down on 2017 results; and well behind the highs achieved in 2015,” Joliffe said.   “The sale of Pullman on the Park in mid-2018 propping up these volumes, selling for $156 million to iProsperity Group, on a reported yield of 5.50%.   “With Melbourne CBD and surrounds enjoying strong visitor demand, regional activity has historically been limited, typically recorded at less than 5% of the total volume of sales.   “CBD assets continue to be in strong demand, with overseas buyers vying for these assets; the Quincy Hotel (under construction) being the only city hotel selling in 2018 to InterGlobe out of India for $91.3 million, (representing close to $380,000 per room).”
<a href="https://www.propertyobserver.com.au/images/2019/5/7/mel%202.jpg" target="_blank">Click here</a> to enlarge: 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/5/7/mel%202.jpg" alt="">   Jolliffe said interest in accommodation hotel assets across Australia was high, particularly by overseas investors.   “This is at its highest in Melbourne given the strong international visitor numbers as well as domestic visitor attraction; keeping investment yields some of the lowest in Australia,” he said.   “Currently, Victorian yields range from 4.30% to 7.75% with an average of 5.50%, which has compressed by 210 basis points in the last five years   “Offshore activity is high with buyers hotly contesting CBD and suburban assets within a short proximity of the city centre.”
Joliffe said Victoria was the second most visited state in Australia by international visitors behind NSW, while domestic visitors choose Victoria behind NSW and Queensland.   “Tourism forecasts highlight these higher international visitor nights in 2017/2018, reaching 76,629 representing a 7.13% increase over the last year, whereas domestic visitor nights of 65,994 represented just 0.67% improvement,” he said.   “Looking ahead, international visitor nights are forecast to grow on average 7.16% per annum over the next five years, while domestic nights projections are for 2.51% annual growth over the same period.”   Joliffe said recent data from STR illustrated that the Melbourne Accommodation market has been trending slightly behind prior years, albeit ADR had remained steady.   “New stock additions to the market has kept competition high, and put pressure on the occupancy levels and RevPAR,” he said   “The accommodation market is cyclical with the various trends obvious across the Melbourne market.
“High occupancy is enjoyed during three periods throughout the year, February–March, July–August and October–November.   “Most recent data for February 2019 highlights peak occupancy of 89.1% a new monthly high, with ADR recorded at $197.74.”
<a href="https://www.propertyobserver.com.au/images/2019/5/7/mel%203.jpg" target="_blank">Click here</a> to enlarge: 
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Melbourne accommodation market remains buoyant: HTL Property

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Dexus, Australia's biggest office landlord, has purchased 80 Collins precinct, a commercial and hotel development for $1.5 billion.
The 80 Collins precinct is a large-scale site located in the Eastern Core of Melbourne’s CBD.
The precinct comprises 105,000 square metres of Net Lettable Area across an existing 47 level A-grade office tower, a new 35 level premium office tower, a new retail podium with 21 tenancies and a new 255 room boutique hotel.
New components of the 80 Collins precinct are currently being developed, with completion slated for 2020.
Dexus chief executive Darren Steinberg said the sale was completed on a passing yield of about 5.3 per cent and will be accretive to the 2020 financial year results.
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"This is right on our strategy and will provide an excellent return to Dexus shareholders in the future," Mr Steinberg said.
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"We are playing to our strengths and we see strong demand in the Melbourne office market."
With this acquisition Dexus will own or manage circa 20% of the total office stock (by area) in the Eastern Core post the acquisition of the 80 Collins precinct and the development of the neighbouring Dexus owned 52 and 60 Collins Street.
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