Malaysian developer <a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> is the latest to jump into St Leonards booming Transport Oriented Development precinct.

The developer, which has previously delivered Sapphire by the Gardens apartment development in Melbourne, identified the Atchison Street site in 2023. It filed a Scoping Report around 12 months ago, and now has revealed the designs for the new&nbsp;40-storey mixed-use tower.

The State Significant Development Application covers <a href="https://next-portal.urban.com.au/projects/14650/summary">20-22 Atchison Street</a>, a 1,374 sqm site positioned between St Leonards Station and the new Crows Nest Metro station.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the project would deliver 181 apartments, above a four-storey commercial podium, five basement levels, and new public domain works along Mitchell Street. The apartment mix comprises 35 one-bedroom apartments, 39 one-bedroom-plus-study apartments, 85 two-bedroom apartments, and 22 three-bedroom residences.

The proposal has been lodged as a shop-top housing development under the NSW Government’s TOD planning pathway, which allows increased density around key transport infrastructure. The site sits within the recently rezoned Crows Nest Accelerated TOD Precinct.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b799673d-48e2-46b0-801a-0e33a9330100" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20site.png?VersionId=dPh0UfwfaHpbFL1R7H1cbZNbIW0CHbCC" />

SP Setia acquired the Atchison Street site as part of its continued expansion into the Australian apartment market. In comments made to City &amp; Country (The Edge Malaysia) in 2023, SP Setia President and CEO Datuk Choong Kai Wai described the acquisition as “a strategic move” aligned with the group’s post-pandemic market recovery strategy.

“Our target for this exceptional development is local and overseas buyers, including first-home buyers, downsizers and investors,” Choong said.

The tower has been designed as a slender vertical form rising from a mixed-use podium, with COX Architecture positioning the development as a response to the evolving St Leonards and Crows Nest skyline.

“The purpose of the project is to facilitate the delivery of high-quality housing at a strategically located site and deliver a built tower outcome that is consistent with the desired future character of St Leonards and aligns with the TOD controls,” the design report stated.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b1a85eee-76f7-436c-a6da-73ba827b9b13" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20entry.png?VersionId=dA9jHGPMcm.dDbwk4QfxqWiY5bfh3UVt" />

The podium would incorporate retail uses fronting Atchison Street, commercial tenancies, landscaped communal areas, and pedestrian improvements along Mitchell Street. Vehicle access and loading would be consolidated via Atchison Lane.

Residents would have access to more than 665 sqm of communal indoor and outdoor spaces, while the development proposes 96 parking spaces across five basement levels.

The proposal also includes a commitment for 10 per cent of residential floor space to be allocated toward affordable housing through a monetary contribution.

COX said the tower form responds directly to the emerging high-density character of the precinct while seeking to maximise solar access, cross ventilation, and outlook from apartments.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="2163f85c-f63b-4be3-aafa-f8763976cec5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_5.png?VersionId=WiAmtIKJ6.ZQ41EtYEQ1fol7AeorKBlL" />

“The building is orientated towards north,” the Apartment Design Guide compliance report noted, adding that the tower’s slim form was driven by the constrained inner-urban site dimensions.

The design also incorporates landscaped setbacks and communal open space at podium level, intended to soften the interface with surrounding streets and improve pedestrian amenity.

The project adds to a growing wave of redevelopment proposals reshaping St Leonards and Crows Nest following the opening of the Sydney Metro City line and the NSW Government’s push for higher-density housing around major transport nodes.

Last week Stockland filed plans just down the road. They want to build a <a href="https://www.apartments.com.au/new-apartments/601-pacific-highway-st-leonards-nsw-2065">52-storey tower on Pacific Highway</a>.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">First look: Stockland plans 52-storey, 538-apartment St Leonards tower&nbsp;</a>

Joel Robinson

First look: SP Setia targets St Leonards skyline with 40-storey TOD tower

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has revealed plans for a new mixed-use tower at 10 Dangar Street, Wickham, advancing a proposal that would reshape the southern gateway to Newcastle’s city centre with one of the city’s tallest residential buildings.

The State Significant Development proposal, now on exhibition, seeks approval for a <a href="https://www.apartments.com.au/new-apartments/bowline-10-dangar-street-wickham-nsw-2293">43-storey tower</a> immediately adjacent to the Newcastle Interchange. The project would deliver around 200 apartments, including 42 affordable housing dwellings, alongside 99 co-living units, a 171-room hotel, retail space, and new public domain integrated through the site.

The scheme marks a significant escalation of plans previously approved for the site. Urban Property Group took over the prominent 2,904 sqm parcel, where excavation and demolition had already commenced under an earlier consent for a 14-storey mixed-use development.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="58a96dd9-407f-4d20-86b4-94e4bfeef74b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20podium.png?VersionId=LGlf08pdFGAZDzvx_CXC4XakHNZRuEE0" />

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, the tower has been conceived as a landmark transit-oriented development anchored to the Newcastle Interchange precinct. The proposal includes 245 build-to-sell apartments across a mix of one, two, and three-bedroom residences, as well as two penthouses. Fifteen apartments and one operational unit are earmarked for NDIS housing. The co-living component would add a further 99 units, while the podium would accommodate retail uses and hotel facilities.

SJB said the site presents “a valuable opportunity to anchor the precinct by setting the standard for design, active ground planes and character at the key southern gateway.”

The architecture responds directly to the site’s position beside major transport infrastructure and within one of Newcastle’s fastest-evolving urban renewal precincts. The tower form sits above a sculpted podium designed to frame new public spaces, including a through-site pedestrian link connecting Station Street to Hannell Street, landscaped plazas, and activated retail edges.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="a7bd6ff0-f7db-4ce8-a6dc-ea56e72c6149" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20lanne.png?VersionId=xzf39VADyhj7zBQY2I9fx9vI62u2tuSb" />

The design report describes the project as part of the broader transition of Wickham into “a vibrant, high-quality mixed-use urban precinct” that leverages proximity to the station, open space, and regional connectivity.

A detailed public art strategy has also been prepared for the development. The strategy positions the project as “a transit-oriented development of state significance at the gateway to Newcastle’s city centre” and outlines a series of integrated artworks responding to Newcastle’s industrial and transport heritage.

Creative Road’s curatorial framework for the project, titled Unveil, draws on “stratified surfaces, carved volumes, and light-filled apertures” while referencing Newcastle’s transformation from an industrial city into a contemporary education and technology hub.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="77a882bb-14b1-4d28-99ff-9438e39508c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20site.png?VersionId=cevgo_vN0eKPK78P8YcEu3mKPLkpFqE7" />

The proposal is being advanced through the NSW Housing Delivery Authority pathway after being declared State Significant Development in June 2025. The accompanying scoping report states the development aims to “maximise the site’s proximity to the Newcastle Interchange by delivering transit-oriented development” while increasing housing supply and affordable housing provision within the Newcastle LGA.

Urban Property Group’s plans align with the long-term strategic vision established under the Wickham Master Plan, which identified the interchange precinct as suitable for substantial uplift in height and density. The current proposal would significantly intensify that vision, positioning the tower among the tallest developments proposed for Newcastle.

The site sits immediately north of the Newcastle Interchange, bounded by Dangar Street, Hannell Street, and Charles Street. It is surrounded by a rapidly growing cluster of residential towers and mixed-use projects that have emerged following the completion of the light rail and transport interchange.

First look: Urban Property Group unveils Newcastle’s latest tower at Wickham interchange

Bottega House has completed settlement of a landmark riverfront site in Macquarie Street, St Lucia, representing its first major Brisbane development.&nbsp;

Positioned on the banks of the Brisbane River, the <a href="https://www.apartments.com.au/new-apartments/180-macquarie-street-st-lucia-qld-4067">premium site at 180 Macquarie Street</a> features uninterrupted river frontage in one of Brisbane’s most tightly held residential precincts.&nbsp;

The proposed development, currently under assessment with Brisbane City Council, has been designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and will deliver a boutique collection of premium residences positioned specifically for owner occupiers and downsizers.&nbsp;

The residences are set to redefine luxury apartment living in the area, with a focus on architectural quality, refined finishes, landscape integration and elevated amenities including curated wellness facilities, resort-style pools and recreation spaces rarely seen in the local market.&nbsp;

Exclusive sales for the project will be led by Keenan &amp; Byrne, ahead of an anticipated launch later this year.&nbsp;

Bottega House Managing Director Nick Malloch said the project reflects the group’s ambition to deliver a highly curated residential offering within one of Brisbane’s most tightly held precincts.&nbsp;

“This is an incredibly rare riverfront opportunity and one we have approached with a long-term perspective,” Malloch said.&nbsp;

“Our vision from the outset was to create a boutique collection of residences that feel more like private homes than traditional apartments, with generous proportions, refined finishes and exceptional amenity throughout."

Malloch says there is a&nbsp;lack of premium owner-occupier stock of this quality in the market, particularly for downsizers wanting space, privacy and a true lifestyle offering without compromise.&nbsp;

"Demand is expected to be strong given the scarcity of premium riverfront opportunities of this nature within Brisbane’s inner-west."&nbsp;

Bottega House secures landmark riverfront site in St Lucia 

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The arrival of the first piling rig officially marks the commencement of construction at SIERA’s new beachside apartment development, Exhale, in Northcliffe.

<a href="https://www.apartments.com.au/new-apartments/exhale-surfers-paradise-8-enderley-avenue-surfers-paradise-qld-4217">Exhale</a>, a glass-encased tower featuring 54 large-scale apartments at 8 Enderley Avenue, is SIERA’s third Gold Coast development. It follows the recently completed PIPIS Bilinga beachfront project, which achieved suburb-record prices, and the soon-to-be-completed Chevron Island development, Tapestry.

[smartcode_project:default project_id=112661 project_image_fid=359603]

<a href="https://www.apartments.com.au/developers/siera">SIERA</a> Founder and Managing Director Brent Thompson said the arrival of the piling rig represented a significant milestone for the development, which is scheduled for completion in late 2028.

Over the next month, around 260 piles are expected to be installed as work progresses on the basement structure. The building is anticipated to rise above ground level early next year, before unveiling its sculptural glass curtain wall, developed in collaboration with specialist façade engineers.

“The façade was designed to maximise panoramic coastal views while creating a distinctive architectural identity,” Thompson said.

[smartcode_project:default project_id=112661 project_image_fid=355935]

Designed by BDA Architecture, Exhale will comprise just 54 two- and three-bedroom residences across 26 levels, a level of low-density living rarely delivered in this beachside pocket between Surfers Paradise and Broadbeach.

The project has been conceived as a resident-only building, with no short-stay accommodation permitted. SIERA says the model is intended to appeal to long-term owner-occupiers rather than transient holiday demand.

[smartcode_project:default project_id=112661 project_image_fid=361052]

Residences have been designed with large-format layouts and expansive glazing, with most apartments featuring more than 30 metres of glass frontage to maximise natural light and ocean views.

The amenity offering spans two levels and centres on wellness and lifestyle, including a heated magnesium pool, sauna, yoga and Pilates studio, gymnasium, private dining facilities, cinema lounge, and dedicated surfcraft storage.

[smartcode_project:default project_id=112661 project_image_fid=359607]

More than half of the apartments have already sold. SIERA has also opened a sales gallery for Exhale at its Chevron Island commercial premises, near its Tapestry tower and the site of its second Chevron Island apartment development, which is slated to launch in early 2027.
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[smartcode_project_cta:default project_id=112661]

SIERA kicks off construction at Northcliffe tower Exhale

Local Little Bay residents, along with buyers from premium postcodes across Sydney’s affluent Eastern Suburbs, have dominated purchases in developer-builder Urban Property Group’s first Eastern Suburbs apartment development, <a href="https://www.apartments.com.au/new-apartments/este-little-bay-jennifer-street-little-bay-nsw-2036">ESTE Little Bay</a>.

The $250 million coastal project, one of the first new developments in the area in several years, has proven particularly popular with downsizers, especially those from Coogee and Bondi. One Double Bay downsizer paid $4.7 million for a four-bedroom penthouse, setting a new local apartment price record in the process.

Buyers have been attracted to the combination of coastal tranquillity, premium design and amenity-rich neighbourhood living. The walkable village setting, along with proximity to three of Sydney’s leading golf courses, New South Wales Golf Club, St Michael’s Golf Club and The Coast Golf Club, has also been a key drawcard.

[smartcode_project:default project_id=112343 project_image_fid=352689]

Built across two low-rise buildings designed by <a href="https://www.apartments.com.au/architects/hill-thalis-architecture-urban-projects-pty-ltd">Hill Thalis</a> and set along a lush, landscaped green spine, designed by leading landscape architect <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>, ESTE Little Bay offers a collection of one, two, three and four-bedroom residences with interiors by Richards Stanisich.

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> Sales Director, Tom McIvor said the response to ESTE has been "nothing short of extraordinary."

“Buyers have been quick to recognise ESTE as a rare opportunity to invest in a coastal sanctuary that offers both seclusion and connectivity to the heart of Sydney,” McIvor said.

[smartcode_project:default project_id=112343 project_image_fid=352687]

<a href="https://www.apartments.com.au/project-marketer/srm-residential">SRM Residential</a> Senior Director, <a href="https://www.apartments.com.au/project-marketer/srm-residential">Clayton Ross</a> said the local market has responded incredibly well, driven by ESTE’s exceptional location and the rarity it offers.

“We’ve seen strong interest from a variety of buyer groups, all of whom are drawn to the exclusivity and quality of the build and construction by the 4.5-star iCIRT-rated builder / developer, Urban Property Group. There’s truly nothing else like it along Sydney’s coastline.”

[smartcode_project:default project_id=112343 project_image_fid=352690]

The project also includes robust buyer protections, including Resilience Insurance’s Latent Defects Insurance, providing 10 years of structural cover, and an independent iCIRT-rating of the developer.

“The iCIRT-rating adds another layer of confidence,” Ross added. “Buyers see it as a safeguard for their investment and their lifestyle.” A highlight of ESTE’s offering is its exclusive wellness amenities, including a heated rooftop infinity pool and outdoor heated spa, a state-of-the-art Technogym fitness centre, and a sauna.

<a href="https://www.apartments.com.au/new-apartments/este-little-bay-jennifer-street-little-bay-nsw-2036">ESTE Little Bay</a> is topped out and is on track to complete towards the end of 2026, with residents moving in before Christmas.

[smartcode_project_cta:default project_id=112343]

Eastern Suburbs buyers snap up ESTE Little Bay apartments

Queensland

Ferro Chow Architecture, formerly Ferro&nbsp;Arch, is set to deliver industry-leading housing for people with disability in Brisbane’s northern suburb, Kedron.

Kedron Haven will offer four specialist disability accommodation (SDA)&nbsp;apartments, plus an on-site overnight assistance apartment, suitable for a carer.

The single-level apartments meet high physical support requirements under the National Disability Insurance Scheme (NDIS) and also exceed Livable Housing Australia’s ‘platinum’ design standard.

Situated at 189-193 Turner Road, the two-bedroom SDA apartments will offer a sensory garden, hydrotherapy pool and bocce green.

<a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/spa-therapy_re-sized.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" data-entity-type="" data-entity-uuid="" height="435" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/spa-therapy_re-sized.jpg?itok=akp1VEFj" width="580" /></a>

Other features include assistive and communication technology, 24/7 disability support, solar and emergency power and smart control locks.

“From the outset we wanted Haven to be special and our team has worked really hard to strike the right balance between meeting the NDIS’ high physical support requirements and creating beautiful homes where people want to live,” said managing director Jared Chow.

“It is a privilege for Ferro Chow to be able to support the local community and provide people with disability essential, premium accommodation in a desirable suburban location”, he said.

Construction is due to start early next year, with residents expected to move into the home by the end of 2021.

Ferro Chow is currently working on several projects throughout Queensland, including <a href="/buildings/london-residences-10-bailey-street-west-end">London Residences in Brisbane's West End</a>.&nbsp;

Set on Bailey Street, the three-bedroom and four-bedroom residences are priced from $1.36 million and offer rooftop resort-style facilities including a pool, day beds, and a steam room.

Formerly Ferro Arch,&nbsp;Ferro Chow changed their name in late October following the promotion of Jared Chow to managing director.

Haven will offer four specialist disability accommodation apartments in Brisbane’s northern suburb, Kedron.

max.kwok_55688

Ferro Chow to deliver specialist disability apartments in Brisbane 

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This is the strongest Regional Queensland market in the six years that Hotspotting has been conducting its quarterly surveys of sales activity and prices. The number of rising markets is the highest recorded, by a considerable margin, and property values are growing.
We have identified 72 locations with rising sales activity, a remarkable result in the year of the pandemic. Locations across the state are benefiting from the Exodus to Affordable Lifestyle and/or the improvement in the resources sector. Vacancies are ultra-low in most of these places. 
There are seven regional cities with five or more suburbs with forward momentum in sales activity: the Sunshine Coast, the Gold Coast, Toowoomba, Mackay, Rockhampton, Gladstone and Townsville. These cities, plus smaller regional centres like Gympie, Emerald, Warwick, Kingaroy and Dalby, all have markets trending in the right direction for sustained price growth.
The Sunshine Coast is again the standout location, but other regional markets are emerging, notably the important inland city of Toowoomba. And we are seeing recovery in resources-related centres which have spent several years in downturn, including Gladstone, Mount Isa and Emerald.
The exceptions to the trend of upwardly-mobile markets are Cairns and the Fraser Coast, neither of which appear to be experiencing the uplift seen elsewhere. 
The Sunshine Coast continues to be one the nation’s outstanding property markets. There are 14 suburbs with rising sales activity and seven with consistent sales volumes. Neighbouring Noosa has two growth suburbs.
The Sunshine Coast is outperforming the Gold Coast, which is a much larger city but has only seven growth suburbs, as well as 12 consistent ones.
Toowoomba is the new contender, as its economy rises on the back of significant new infrastructure. Eight suburbs have rising sales activity and we expect prices to rise considerably.
Rockhampton, Gladstone, Mackay and Townsville each has between five and seven suburbs with rising momentum.
Gladstone’s re-emergence as a growth market is notable, after half a dozen years in downturn: vacancies are now low, sales activity is picking up and prices are now responding.
Markets across Regional Queensland are performing well on price growth: almost three-quarters of locations across Regional Queensland have had annual growth in their median house prices and a similar number of towns and suburbs have had uplift in the most recent quarter.
The Sunshine Coast continues to impress as one of the nation’s strongest markets, with price uplift in particular in the top end of the markets. 
Sunshine Beach, the most expensive suburb on the coast, has recorded a 33% annual rise in its median house price, now $1,750,000. The canal-based suburb of Minyama has increased 29% in the past 12 months to $1,190,000. Yandina (median house price $730,000) has increased 30%.
The market in and around Noosa is a particular standout, with Sunshine Beach up 33%, Sunrise Beach up 17% and Noosaville up 12%. Mooloolaba (median price $900,000) has risen 10% and Moffat Beach (median price $910,000) is up 12%.
The Gold Coast has some notable growth performances also, with Worongary (30%), Runaway Bay (14%), Miami (12%), Arundel (15%) and Burleigh Heads (15%) all recording growth annual growth.
A number of Central Queensland are rising, including Mackay (where Andergrove, Blacks Beach, South Mackay and North Mackay have all recorded double-digit annual growth) and Rockhampton (where Berserker has led the growth with a 27% increase).
Gladstone continues to deliver evidence of recovery from a lengthy downturn, with median house price growth in suburbs such as Calliope (10%), Clinton (12%), West Gladstone (18%) and Tannum Sands (11%). 
Central Queensland resources towns like Moranbah (up 23%) and Clermont (up 10%) are also recovering, albeit from a very low base. Chinchilla on the Western Downs is in a similar position, with its median house price rising 15% in the past year after several years of decline.
TERRY RYDER is the founder of hotspotting.com.au 
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terryryder-YECXbqmri2

Strongest regional Queensland market in six years: Hotspotting's Terry Ryder

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Queensland Premier Annastacia Palaszczuk placed tighter restrictions on auction gatherings in Gold Coast homes from 8am, on Saturday, 29 August. 
“Coming into effect from 8:00am Saturday, we are going to extend those limits of people inside your homes to 10 people, and those gatherings outside to 10,” Ms Palaszczuk said.
“I think everyone would agree, we acted very swiftly when it came to those earlier cases with the Brisbane Youth Detention Centre and we know people travel a lot from the Gold Coast to Brisbane, and it makes sense to extend that.”
The Real Estate Institute of Queensland (REIQ) issued guidelines:
“Owners, tenants and agents must continue to take reasonable steps to encourage visitors to any premises to practise physical distancing and hygiene practices as required and that open home inspections, rental inspections and auctions be limited as required by the new directive.
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j.ballantyne1990-6AQqhLzZaK

Gold Coast gets tightened auction restrictions amid COVID-19 concerns

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A Hope Island real estate agency, Hi Care Real Estate Group Pty Ltd, has been ordered to pay $1,044 in the Brisbane Magistrates Court on 17 July 2020 for failing to lodge an audit report on time with the Office of Fair Trading.
Under the Agents Financial Administration Act 2014, real estate agents have four months from the end of their audit period to lodge a report with the OFT.
The Hi Care Real Estate Group’s audit report was due in March 2019 but it was 79 days late in submitting it.
The court heard that the OFT issued Hi Care Real Estate Group Pty Ltd an infringement notice for the offence but the agency elected not to pay it and instead have the matter heard in court.
In sentencing, Magistrate Judith Daley said the licensee held public money and the trust account required stringent oversight to ensure defalcation did not occur, therefore audit reports were required to be submitted on time.
No conviction was recorded.
Fair Trading Executive Director Brian Bauer said this court action should act as a reminder to real estate agents about their legislative obligations when it came to operating a trust account.
“Reports of agents who fail to follow their trust account obligations are taken very seriously by the OFT,” Mr Bauer said.
“Audit measures are in place to ensure the integrity and accountability of the industry.
“Agents are able to get assistance from legal or financial professionals, or even the OFT if they have questions regarding the operation of their trust accounts.”
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No conviction recorded after Hi Care Real Estate fails to meet audit requirements

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A Springfield Lakes real estate agent and his company have been fined $2,500 and given a suspended sentence in the Ipswich Magistrates Court after being investigated by the Office of Fair Trading (OFT) for taking money from a trust account they were not entitled to.
Kevin Tomlinson, principal licensee and sole director of Exposure Real Estate (QLD) Pty Ltd, pleaded guilty to wrongfully transferring money from a rental trust account to his company’s expense account over a seven-month period.
The company was fined $2,500 and Mr Tomlinson was ordered to serve four months’ imprisonment, wholly suspended for two years.
The court heard that, from December 2018 to June 2019, Mr Tomlinson made a series of withdrawals totalling over $100,000 from his company’s rental trust account and used the money for a variety of business expenses including loan and lease repayments and staff wages.
Under the Property Occupations Act 2014, it is an offence to use trust money, which is money belonging to someone else, in this way. Trust money can only be released to a person who is entitled to it.
In sentencing, Magistrate Virginia Sturgess commented on the seriousness of the offending and abuse of the agent’s position of trust. She also took into account that the agent had partially repaid the money before the involvement of the OFT and that the remainder of the money had been repaid prior to being charged.
Fair Trading Executive Director Brian Bauer said the case was a reminder to real estate agents that they have a responsibility to those they represent and that trust account funds are off limits for personal or business use.
“Agents who fail to comply with their trust account obligations will incur serious penalties,” Mr Bauer said.
“Agents are able to get advice from legal and financial professionals as well as the OFT if they have questions regarding trust accounts.”
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Kevin Tomlinson, Springfield Lakes estate agent given suspended sentence for trust account irregularities

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EXPERT OBSERVATION
The Queensland residential building industry remains on track to experience a significant downturn in building activity in the fourth quarter of the year.
Contrary to some observations that the Queensland building industry has remained relatively unscathed by the impact of coronavirus, detached house approvals issued for June reveal a drop of almost 16 per cent for the month.   
That takes the total drop in approvals since the crisis hit in April to 25.9 per cent” says Mr Roberts. This puts the number of approvals for the quarter 36.4 per cent lower than the April quarter in 2018.  
With the lead times involved in the construction of a new home the drop in approvals now will play out in the fourth quarter of the year with a corresponding drop in construction.
While the Federal Government’s HomeBuilder Scheme has generated significant interest in new home building, the delayed implementation of the scheme by the Queensland Government means the high level of interest is not being translated into actual contracts signed.  
Everyone is waiting for the Government to release the application rules because until they do no one really knows for sure if they will be eligible. The banks can’t confirm loans, consumers don’t know what is involved and the builders can’t confirm when they can actually start work. 
It’s been almost two months since the HomeBuilder scheme was announced and builders and their clients are becoming extremely frustrated by the delays. Some clients are starting to lose interest in the idea of building a new home in this state.  
The question I keep being asked is ’why is it taking so long?’ How hard can it be to design the process and why aren’t we taking on board the process now in place in five other jursidctions?
As a proud Queenslander I do wonder why we seem to be running last on this issue. The Queensland Government was the last State to sign up to the HomeBuilder program and we are now the last State to release the application rules.
Queensland home buyers and home builders deserve more.
MIKE ROBERS is the HIA Queensland Executive Director
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Time for Queensland to get moving on HomeBuilder: HIA's Mike Roberts

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A recent industry survey conducted by the Real Estate Institute of Queensland (REIQ) reveals that Property Managers across Queensland’s real estate industry have performed more than double the amount of ‘heavy lifting’ when it comes to rent negotiations between landlords and rental tenants.
This is outside of the Palaszczuk Government’s Residential Tenancies and Rooming Accommodation (COVID-19 Emergency Response) Regulation 2020.
REIQ CEO Antonia Mercorella says industry data like this is vital to help understand the essential nature of the real estate sector during unique circumstances such as the COVID-19 pandemic and its role in supporting the broader Queensland economy.
“This member survey aimed to identify a whole-of-industry snapshot in regards to the important role and to what scale our sector played in negotiating temporary reduced rents on behalf of more than 14,000 rental tenants with their landlords,” explains Ms. Mercorella. “Real estate professionals manage close to 600,000 Queensland households through property management services. The demand for more effective recognition of our industry during any future crisis of this nature is now more apparent, with property managers overseeing more than a double caseload of temporary rent reduction requests from tenants suddenly faced with the inability to fulfil their rent obligations.”
With over 1,200 REIQ property management member agencies surveyed throughout Queensland, the results show that only 6.05% of residential rental tenants qualified as “COVID-19 impacted” under the State Government’s COVID-19 Emergency Response Regulation. This represents approximately 3,950 renters from a State total in excess of 577,000 residential tenancies (Census, 2016). A tenancy is generally deemed to be “COVID-19 impacted” if a tenant is impacted by COVID-19 in certain ways and in addition, the tenant has suffered a loss of income of 25% or more, or the rent payable is 30% or more of a person’s income. A majority of negotiations achieved a satisfactory outcome regarding temporary rent reductions, with fewer than 800 referred to the Residential Tenancies Authority for further conciliation.
Furthermore, Property Managers proactively negotiated an additional 14% of temporary rent reduction requests beyond the COVID-19 Emergency Response Regulation, representing over 10,800 residential tenancies. That’s more than double the amount of qualified lease renegotiations recognised as ‘COVID-19 impacted.’ The bulk of these temporary rent reduction reviews took place across Brisbane (37.2%), Gold Coast (14.88%), Sunshine Coast (12.09%) and Cairns (6.51%) with the majority of tenants requiring a rent reduction of up to $100 per week (69.3%). A further 23.72% of rental tenants have required a temporary rent reduction of up to $200; 5.12% a reduction of up to $300; and, 1.86% a reduction of over $300 which represents just over 200 tenants.
“By the time the Prime Minister’s proposed protective measures for residential tenancies via a six-month moratorium on evictions reached the Palaszczuk Government, a highly-coordinated industry campaign for more fair and balanced protections for both tenants and landlords ensued,” says Ms. Mercorella. “However, the REIQ recognised that many rental tenants and landlords simply couldn’t wait. Large scale job losses were already in motion, with the entertainment, events, food and beverage, and tourism industries virtually grinding to a halt overnight. As a result, we were quick to work proactively with Property Managers across our member agencies to achieve an immediate framework of resources for tenants and property owners in significant financial distress to come together to negotiate temporary rent reductions in order reach an amicable outcome for both parties.
“The role our industry’s Property Managers have played throughout this pandemic is truly exemplary,” adds Ms. Mercorella.
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Only 6% of renters qualified as "COVID-19 impacted": REIQ

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A riverfront five-bedroom, four-bathroom house in Corinda was sold for $5.1 million through Adcock Prestige estate agent Jason Adcock. 
The <a href="https://www.realestate.com.au/sold/property-house-qld-corinda-129462306" target="_blank">Richmond Street residence</a> is a winner of The Master Builder's Association "Australian House of The Year" with a 39 metre river frontage and unobstructed views across the river to the parkland. 
<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/2020/5/27/16_Corinda%20Front%20.jpg" alt="">
The 3,633 sqm north-facing estate has two street frontages and surrounded by parkland and manicured lawns. 
The estate features high ceilings, glass walls, open plan living, dining and kitchen, and theatre room. 
Upstairs is the master ensuite with dressing room space, an island bath, chandelier, double shower, double vanity and huge river-view balcony. 
Below entry level is the home's wine cellar, multiple storage spaces and four car garaging equipped with Tesla charging facilities. 
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Award-winning riverfront house in Corinda sold for $5.1 million

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A five-bedroom, three-bathroom waterfront house in Noosa Heads, Queensland has been sold for $3.6 million through Tom Offermann estate agents Peter TeWhata and Tom Offermann. 
The <a href="https://www.propertyobserver.com.au/A%20riverfront%20five-bedroom,%20four-bathroom%20house%20in%20Corinda%20was%20sold%20for%20%245.1%20million%20through%20Adcock%20Prestige%20estate%20agent%20Jason%20Adcock." target="_blank">Cooran Court property</a> is located on leafy streetscape only five minutes to Noosa Main Beach, with a palm-lined garden path, timber features on the facade and glass-panelled double doors. 
The 740 sqm parcel of land features a lofty-entrance hall, timber kitchen, family living spaces, and additional living and dining spaces with glass doors on two sides which open out to a terrace designed for entertainment.
There is also direct access to water from the property.
 <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/2020/5/27/17_Noosa%20Head%204.jpg" alt="" style="caret-color: #000000; color: #000000;">
In the guest or family wing, two of the four bedrooms look out to the swimming pool and all share a family-size bathroom.
Upstairs is the master suite with walk-in robe and ensuite.
According to Domain, 14 other five-bedroom houses in Noosa Heads have recently been sold with a similar one on Noosa Springs Drive sold for $2,224,000 in early February. 
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Waterfront five-bedroom Noosa Heads house sells for $3.6 million 

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Wollogorang and Wentworth stations, the renowned 705,000 hectare cattle station on the Northern Territory/Queensland border has been sold. 
The McMillan family from Queensland bought the cattle station for $53 million from Chinese Billionaire Xingfa Ma. 
Bordering the Gulf of Carpentaria, the property comprises 576,000 hectare Wollogorang Station and 129,000 hectare Wentworth Station. 
The property can be reached by air from Cloncurry or Mt Isa, as well as accessed via the road network.
<img src="https://www.urban.com.au/images/2020/5/4/Wollogorang%20and%20Wentworth%20Stations%202.jpeg" alt="">
The properties’ natural attributes include reliable rainfall, with additional water sources including large creeks and seasonal lagoons.
There has been upgrades to the property's infrastructure including the installation of Lorentz solar bore pumps.
The main homestead comes with five bedrooms with contemporary features such as a cinema room.
<img src="https://www.urban.com.au/images/2020/5/4/Wollogorang%20and%20Wentworth%20Stations%201.jpeg" alt="">
Mr Ma is one of the richest businessmen in China. He paid around $47 million in 2017 for the cattle station.  
The McMillan Pastoral Company is run by the large McMillan clan, which manages cattle across several properties in North West Queensland.
The property was sold by Bruce Douglas from Ray White Rural Queensland. 
 
https://www.propertyobserver.com.au/finding/location/rural/103879-wollogorang-and-wentworth-nt-cattle-stations-for-sale.html
https://www.abc.net.au/news/rural/2020-05-01/queensland-mcmillan-family-buys-wollogorang-and-wentworth-$53m/12102478
 
A Queensland family has bought a large cattle station on the Northern Territory/Queensland border from a Chinese billionaire for $53 million.
On Tuesday, the McMillan Pastoral Company settled a deal to buy Wollogorang and Wentworth Stations — which are run as one property straddling the border on the Gulf of Carpentaria — according to documents from the NT Land Titles Office.
The 700,000 hectare aggregation, which includes around 80 kilometres of coastline, was sold walk-in-walk out with around 27,000 head of cattle.
The properties were bought from one of the richest businessmen in China, Xingfa Ma, who owns a ball bearing manufacturing company, alongside beef and wine properties in Western Australia.
Mr Ma's company TBG Agri Holdings had owned Wollogorang and Wentworth since 2015, <a class="_2HoMm _31PBK _34Pu4" href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/rural/2015-07-16/chinese-billionaire-xingfa-ma-buys-nt-wollogorang-station/6623806" data-component="ContentLink">for which he paid around $47 million.</a>
The McMillan Pastoral Company is run by the large McMillan clan, which manages cattle across several properties in the Cloncurry region of North West Queensland.
Calvert Hills Station, which borders Wollogorang on its eastern boundary, was bought by the <a class="_2HoMm _31PBK _34Pu4" href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/rural/rural-news/2013-07-08/calvert-hills-sale/4808906" data-component="ContentLink">McMillans in 2013 for $15 million.</a>
<h2 class="_1LI2A _3_H8z SelAj _1t9H3 ZPXNE lxkD- mSYxO age8P" data-component="Heading">Properties suited to domestic and live export trade</h2>
Herron Todd White land valuer, Frank Peacocke, said Wollogorang and Wentworth would fit in well with the McMillans' other properties.
"They will likely use Wollogorang as a big breeder joint and they will be turning off their younger cattle down to Cloncurry to grow them out and fatten them up," he said.
"The cattle could go into the domestic market or onto the boats through Townsville.
"It's actually closer to Darwin, so they could [send cattle] that way also. They've got a few options."
The quick turnaround in ownership for such a large property is quite rare for the Northern Territory pastoral industry.
Mr Peacocke said the growth in pastoral value since 2015 was not reflected in the sale price.
"It was only four years, but in those four years there has been very strong growth in the pastoral asset space, [of] easily 30 per cent growth over that period," he said.
"[The previous owner] spent over $7 million on Wollogorang and Wentworth over that period, so add that onto the sale price [of $47 million], and if you did expect 30 per cent growth, this sale certainly doesn't show it.
"I think the McMillans have bought reasonably well."
<h2 class="_1LI2A _3_H8z SelAj _1t9H3 ZPXNE lxkD- mSYxO age8P" data-component="Heading">Chinese billionaire 'refocusing' investments</h2>
Speaking to ABC Rural in August last year after the station was put on the market, managing director of TBG Agri Holdings, Andrew Blythe, said the station had been "a great property" for the company, but it was looking to "refocus" its investments.
"We're focussing back on our investments in Western Australia," he said.
"We've got Emu Downs north of Perth and Balfour in the Pilbara.
"So we're focussing on those operations and developing a boxed-meat product for China for our shareholders."
Mr Blythe said the company had invested around $7 million into the property, including a major fencing project, upgrades to the homestead area and watering points.
"And we spent a lot of money on genetics for the property," he said.
"A lot of the herd was a mix when we bought it, but it's now pretty much 100 per cent Brahman bloodline."
The McMillan family declined to comment on the sale.
 
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