Perth’s new apartment market recorded its strongest quarter of sales since Q4 2021, with 412 apartments sold in Q1 2026 and a record quarterly sold value of $537 million, according to Urbis’ latest Apartment Essentials results.

Urbis said the March quarter result reflects strong, highly product‑specific demand across both ends of the market, from more attainable projects delivering at scale, through to premium stock being absorbed by equity‑rich downsizers.&nbsp;

David Cresp, Partner at Urbis, said the key story in Perth is not demand, it is the market’s ability to convert demand into delivered housing.&nbsp;

“This is the strongest sales quarter since Q4 2021, and it reinforces that demand in Perth is real and it’s local,” David Cresp said. “But the task now is delivery, turning that demand into projects that can actually be built and completed.”&nbsp;

[smartcode_project:default project_id=110291 project_image_fid=302785]

<h2>Affordable product leads, premium demand remains resilient</h2>

Sales in Q1 were led by more affordable projects, with The Boulevard (SKS Group) recording 115 sales in the quarter, the presentation noting this is only the second time a single project has surpassed 100 quarterly sales. The project was able to offer more affordable housing product right next to a train station.&nbsp;

Palmyra West (Finbar) also delivered strong results with 28 sales in Q1, following 84 sales in Q4, with an average price of under $800,000, underscoring depth of demand for well‑located, attainable new stock.&nbsp;

At the premium end, Urbis said downsizer demand is continuing, with the results highlighting Romeo (Applecross, Finbar) recording 75 sales and reaching almost 50% sold in one quarter.

Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.

Urbis noted that Perth apartment demand is not speculative, not investor‑led, and not uniform, describing it as localised, often equity‑driven and highly product‑specific, a pattern reflected in the polarisation between strong “attainable” performers and premium downsizer product.&nbsp;

[smartcode_project:default project_id=148957 project_image_fid=364102]

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

Urbis said pricing pressure is cost not demand‑driven: construction costs and delivery risk are now a central constraint, with the results noting build costs remain elevated and volatile, and that energy, fuel and labour uncertainty weigh on feasibility.

David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.

“Developers are really feeling the pressure from a building market that was operating at capacity and securing a builder is challenging,” David Cresp said, adding that even where a builder can be secured, “trying to get to the price that makes the development financially viable is incredibly challenging in the current market.”&nbsp;

Urbis’ broader WA commentary also notes that industry remains at or above capacity with lot and housing creation, and that many builders are limiting new sales to manage stretched workforces and fixed‑price contract pressures, conditions that flow directly into apartment feasibility and delivery timing.

[smartcode_project:default project_id=108869 project_image_fid=317905]

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

While near‑term supply remains constrained, Urbis’ forecast shows completions lifting “Supply is forecast to be back above 1,500 apartments per annum for the first time since 2019”, with 1,775 completions forecast for 2026, and volumes remaining above that level over the following years.&nbsp;

Looking further ahead, completions are forecast to reach 2,500 in 2028, with the report noting 32% of that total is social/affordable, reflecting the role of government‑supported delivery in rebuilding the pipeline.&nbsp;

However, Urbis said Perth remains behind comparable markets on pipeline scale. In a national comparison of projects under construction, the report shows under construction Perth Build‑to‑Sell (BTS) at 3,446 apartments versus the Gold Coast at 7,922. Mr Cresp said “The challenge for Perth is how to we grow the delivery pipeline”.

Urbis’ conclusion is that Perth’s market is increasingly defined by product discipline and delivery certainty, with the research identifying “delivery certainty is key” and calling out builder risk and procurement models as core success factors, alongside “timing and staging”.&nbsp;

Joel Robinson

Perth apartment sales hit strongest pace since late 2021 as builder capacity tightens

<a href="https://www.apartments.com.au/developers/sammut-developments">Sammut Group</a> has secured development approval for its latest Brisbane apartment project, marking the Sydney developer’s next step in expanding its Queensland pipeline following the success of its debut Gold Coast development, Coast.

The approved project at <a href="https://www.apartments.com.au/new-apartments/44-glen-road-toowong-qld-4066">44 Glen Road, </a><a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> will deliver a 15-storey riverfront apartment building with 42 residences, significantly increasing the scale of the site’s previous approval for a smaller luxury scheme. Designed by Bureau^proberts, the development will comprise a mix of predominantly four-bedroom and two-bedroom apartments positioned to maximise Brisbane River and city views.

Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.

“Brisbane was the right step for Sammut,” Sammut said.

“With the success of Coast we thought we should definitely look to do more in Queensland alone. We then pushed up to look at Brisbane. We've been looking for I'd say two to three years actually and it was hard to find the right location.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-23%20at%203.27.14%E2%80%AFPM.png?VersionId=dYAVIL7qdcGA8ojvkslSrLjczXFejSSx" />

Sammut said suburbs including New Farm and Teneriffe were considered before the group ultimately focused on Toowong due to its strong downsizer demographic and limited supply of developable riverfront land.

The site was acquired off-market after what Sammut described as a lengthy negotiation and planning process, with the developer pursuing an uplift to the original approval.

“We are DA approved now which is very exciting,” Sammut said.

“We've had our change approval come through and we've obviously doubled the height, 15 storeys plus rooftop. We've got 42 amazing apartments that are going to be coming to market soon.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.27.26%E2%80%AFPM.png?VersionId=ohkRkY0dIZlqdfME2EZePsCQavRiBadE" />

Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.

“A place where traditional Queensland living has taken place for centuries; Toowong is seeing a shift of contemporary influence, commercial and retail hubs mixed with well-considered residential offerings – all the while maintaining its character and charm,” the architect noted in planning documents submitted to Brisbane City Council.

The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.

“They said the mix of four and two-bedroom apartments capture the ‘fundamental qualities of Queenslander living,’ translated into the context of a contemporary subtropical building.”

The development sits just off Coronation Drive within walking distance of Toowong’s retail precinct and the upgraded Regatta ferry terminal, while also benefiting from proximity to the incoming green bridge connection to West End. Sammut said the accessibility and amenity offering were central to the site’s appeal.

The approval adds to growing residential activity along the Toowong riverfront, joining nearby projects including Consolidated Properties’ Monarch Residences and Spyre Group’s ARC Residences.

Sammut secures approval for debut Brisbane apartment development in Toowong

Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.

Lanevick, founded and directed by Steve Maroun, is expecting to receive approval in the coming months for a new apartment development in Gladesville, with the aim to launch it to the market later this year.

The 51-apartment project, designed by Studio Johnston, will comprise a mix of one-, two-, and three-bedroom apartments positioned toward the Hunters Hill downsizer market.

“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.

“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.

“They still want good spacious entertaining areas, they still want quality design, but they also want flexibility and the ability to enjoy life a bit more after working hard for a long time.”

The project sits near Boronia Park and within close proximity to the Parramatta River foreshore, an area Maroun says offers more of a Hunters Hill lifestyle than a traditional apartment precinct.

“From a lifestyle perspective, it’s really more Hunters Hill than Gladesville,” Maroun said. “You’re close to the foreshore, close to parklands, and still connected back into the village precinct.”

From level four and above, apartments will capture water views&nbsp;toward Sydney Harbour. Communal amenity will include rooftop entertaining areas, wellness spaces, and a gym tailored toward owner-occupier buyers.

“We’ve really designed these apartments around that buyer coming from the Hunters Hill LGA and what they’re actually looking for in their next chapter.”

The proposed development has also been designed to respond to the changing character of the broader Gladesville town centre, where a growing number of mixed-use and residential proposals are expected to emerge over the coming years.

“Gladesville presented a rare opportunity to deliver a genuinely design-led residential project within an evolving lifestyle precinct, just moments from the growing Gladesville town centre, and we’ve approached the project with a strong focus on architecture, liveability and long-term community value,” Maroun said.

Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.

“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.

“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”

The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.

“A big part of the thinking was how do you activate that area properly and create more vibrancy and amenity, which is what Hunters Hill has been looking for,” Maroun said.

Lanevick’s focus since 2020 has largely been on smaller-scale luxury townhouse and terrace developments. The developer recently completed Royale Randwick, also designed by Studio Johnston, where prices reached $3.65 million. The project was featured in the UDIA NSW 2026 Professional Development Prospectus and was also named a finalist for Development of the Year.

&nbsp;

Lanevick to cater for Hunters Hill downsizers with new Gladesville apartment development

Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.

With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.

“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.

“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" />

GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.

“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”

Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.

“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" />

&nbsp;

One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Green praised local policy settings.

“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

One Living enters Sydney's new apartment market with Northern Beaches site acquisition

It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.

Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.

Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be

"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.

"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."

[smartcode_project:default project_id=134646 project_image_fid=6109]

The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.

The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.

Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.

[smartcode_project:default project_id=134646 project_image_fid=6110]

Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.

The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.

[smartcode_project:default project_id=134646 project_image_fid=6116]

While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.

WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.

With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.

[smartcode_project_cta:default project_id=134646]

WM Residences fills gap in Mordialloc townhouse market

Retail

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Retail magnate Solomon Lew has increased his stake in the department store David Jones by just short of 10%, in a bid to undercut the recent $2.2 billion Woolworths Holdings’ takeover or gain influence on the board, <a href="https://www.theage.com.au/business/retail/david-jones-war-heats-up-as-solomon-lew-emerges-from-the-shadows-to-grab-more-shares-20140618-3ack5">reports Fairfax</a>.
The bid confirms market watchers’ suspicions that Lew has been buying shares in takeover target David Jones since 9 May.
Lew’s owned Australian Retail Investments has announced on Wednesday that it now owns 9.89% of David Jones after buying 53.11 million shares for around $200 million.
This considerable stake in Lew’s command could give him the influence to vote down the Woolworths takeover when it is put to David Jones shareholders in 13 days’ time.
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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po-LsXgBTHBmX

Stakes increased in retail battle for DJs as Solomon Lew grabs shares

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A new tender has been announced for the Bennelong, Sydney Opera House restaurant site which was vacated at the end of 2013 by the Paddington-bound chef, Guillaume Brahimi.
“We have scoped potential improvements to the venue and will work with the new operator on those plans, while being careful to respect our obligations as a World Heritage-listed site,” Opera House chief executive Louise Herron said in a statement on the trust website.
It is now more than three months after the Stokehouse plans by the Melbourne-based Van Haandel Group dissolved given their decision opting instead to concentrate on rebuilding their burnt-out Stokehouse premises at St Kilda.
It will be a new, two-part tender commencing late next month.
Chef Matt Moran's Aria Catering will run Bennelong until sometime in 2015 as a premium functions venue while the tender process is being conducted.
Opera House Trust chairman John Symond wants an operator with a concept that embraces Bennelong’s unique qualities and magnificent setting.
Chef Guillaume Brahimi ended his 10-year tenure declining to bid declaring his fine dining style was unsuited to the required seven-day operation. But Ms Herron has affirmed the venue needs to be open day and night, seven days a week. 
The Australian food columnist John Lethlean says those who expressed interest initially have gone "ice-cold" on the idea of an Opera House address where it has been suggested the trust was seeking a base rent of $700,000 to $900,000 a year as well as 5-8% of turnover.
A who's who of restaurant identities were believed to have vied initially for the opportunity including Vue de Monde's Shannon Bennett, <a href="/expert-insights/investing/bills-of-sydney-rides-wave-of-international-success-to-waikiki-hawaii">Bill Granger of Bills</a>, Maurice Terzini of Bondi Icebergs and the operators behind Quay, one of the tender finalists.
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As announced last year, the Opera House is conducting public tenders for all its expiring food and beverage contracts in accordance with NSW Government procurement policy. 
The Opera House received a strong response to the first expressions of Interest stage for the lower concourse bar and restaurant. It has now invited shortlisted applicants to participate in the second stage of the confidential tender process. Their offers will be finalised by late next month. 
The existing long-term contract for the lower concourse venue expires at the end of August. The successful applicant is expected to be operating before the busy summer season later this year. 
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jchancellor-FAypfDUnLy

Fresh Bennelong, Sydney Opera House restaurant site tender 

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Ice cream retail chain Baskin-Robbins plans to open 20 new stores across Australia over the next year, with the first five to open in coming months.
The new stores will be a combination of company-owned and franchise stores, adding to the Palm Oasis Ventures-owned brand’s stable of 78 stores in Australia.
Baskin-Robbins announced in 2013 <a href="https://www.smartcompany.com.au/growth/franchising/30732-we-scream-for-ice-cream-baskin-robbins-and-ben-jerry-s-plan-another-230-stores">plans to open another 200 outlets in Australia</a>, following the signing of a new master franchise joint agreement with Galadari Brothers.
The first of the new stores will be located in Forest Lake, West End, Townsville, and Bayside in Queensland, and Nedlands in Western Australia, with more to come in New South Wales and Victoria.
Baskin-Robbins Australia general manager David Jordan told SmartCompany the 25% increase in the chain’s network is part of its “aggressive growth strategy”.
“We’ve been consolidating our brand over the past two years and we are now in the position to grow our stores at a rate that is both sustainable and meeting consumer demands,” says Jordan.
Jordan says ice cream is especially popular in Australia and Baskin-Robbins is looking to extend its store network to better meet the demand.
”The Australian market has one of the highest per capita rates on spending of ice cream – we’re the third,” says Jordan.
“Australians can’t seem to get enough of ice cream. We believe the marketplace can hold and warrant a far greater amount of ice cream stores,” he says.
While the first handful of new stores will be located in the brand’s Queensland and Western Australia homeland, Jordan says Baskin-Robbins will be focusing on new stores in Victoria and New South Wales between October and December—with a view to opening even more stores further down the track.
“We believe the dessert industry in Australia is strong,” says Jordan. “We could open another 50 over Victoria, most definitely,” he says.
Despite <a href="https://www.smartcompany.com.au/growth/economy/42155-consumer-confidence-hits-gfc-lows-450-jobs-to-go-at-qantas-midday-roundup">cooling consumer confidence</a> and the <a href="https://www.smartcompany.com.au/growth/franchising/42244-wow-cow-frozen-yoghurt-chain-milked-dry-as-only-bondi-store-left-standing">recent decline of Australia’s first frozen yoghurt chain Wow Cow</a>, Jordan says the Baskin-Robbins brand is strong enough to weather the storm.
 “The brands that are able to build strong loyalty and get passionate will always be able to ride the ebbs and flows of consumer confidence,” says Jordan.
“As long as you stay true to values as a brand and build on your values,” he says.
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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jake-cSmGT7VXVf

Baskin-Robbins planning a sweet future, despite cool consumer sentiment

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Victoria's Secret will open a store next month at the Emporium, Melbourne.
The beauty and accessories store will open the 142 square metre store which will feature two video walls broadcasting footage of Victoria's Secret Angels.
Victoria's Secret opened its first "downtown" store in Australia in March, <a href="https://www.ragtrader.com.au/news/secret-s-out4?utm_medium=email&amp;utm_campaign=RTR+ENEWS+TUESDAY+17TH+JUNE+2014&amp;utm_content=RTR+ENEWS+TUESDAY+17TH+JUNE+2014+CID_50493109927e7a06773c396df7827d47&amp;utm_source=Email%20marketing%20software&amp;utm_term=more" target="_blank">Ragtrader reported</a>, in Sydney's Queen Victoria Building.
Prior to that there was a network of five travel retail locations in Australia, including Sydney Airport's terminals one, two and three as well as Melbourne Airport's domestic and international terminals.
Showman Baz Luhrmann will officially open Emporium Melbourne on 20 August, although <a href="/expert-insights/investing/the-emporium-melbourne-officially-opens-its-doors">the </a><a href="/expert-insights/investing/the-emporium-melbourne-officially-opens-its-doors">doors to the $1.2 billion shopping centre opened </a>in April.
The 48,000 square metre shopping space will be home to around 225 stores. 
The much delayed Emporium Melbourne, which occupies the site on Lonsdale Street that was formerly Myer, is credited as the biggest retail development in Melbourne’s CBD in more than a century.
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Baz Luhrmann to officially open Emporium, Melbourne which snares Victoria's Secret

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Probuild has been selected to construct the latest expansion at the Chadstone Shopping Centre in Melbourne.
It will add an office tower along with extension to the retail with the capacity for a future hotel.
Probuild has completed every major stage of the shopping centre since 1989. Work on the 29th stage starts this month.
The prior 28 stages have occurred over 21 years of transformation.
The project for CFS Retail will add 34,000 square metres taking it to more than 212,000 square metres.
Probuild is one of Australia’s largest construction companies, with an annual turnover of $1.5 billion and a staff of 1,100 nationally.
Image courtesy of Alpha/Flickr/<a href="https://creativecommons.org/licenses/by-sa/2.0/" target="_blank">Creative Commons</a>.
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Chadstone expansion project goes to Probuild

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It has been another eventful week for Kathmandu founder Jan Cameron, with reports her Discount Superstores Group is in the process of closing down numerous stores across its Retail Adventures chain.
<a href="https://www.smh.com.au/business/retail/jan-cameron-closing-50-more-stores-20140611-39wrc" target="_blank">Fairfax reports</a> 50 Sam’s Warehouse and Crazy Clark’s outlets across the group are expected to close, with Cameron allegedly negotiating a third party investment or sale of the business.
SmartCompany contacted Discount Superstores Group, but the company declined to comment
Cameron was in the news last week following the <a href="https://www.smartcompany.com.au/finance/42247-rich-lister-jan-cameron-s-fall-from-grace-continues-with-postie-plus-going-into-administration" target="_blank">collapse of Postie Plus</a>, a New Zealand clothing chain the former Rich Lister held a 19% stake in.
The Australian reports Cameron is also the major shareholder in baby food company Bellamy’s Organic, which is heading towards a $100 million initial public offering on the ASX next month.
Cameron bought the troubled Retail Adventures chain <a href="https://www.smartcompany.com.au/leadership/professional-development/40730-rich-tales-how-jan-cameron-lost-nearly-90-of-her-quarter-billion-fortune-in-four-years" target="_blank">out of receivership</a> in 2009 for $85 million, intending to use profits from the business to fund her environmental philanthropy and animal activism, which had become her sole focus following the sale of Kathmandu to a private equity firm in 2006.
While the Kathmandu sale netted Cameron $247 million, she spent the majority of that money just keeping Retail Adventures afloat.
In 2012, Retail Adventures again went into administration with $200 million worth of debt, but <a href="https://www.smartcompany.com.au/growth/economy/30298-jan-cameron-buys-back-retail-adventures-for--58-9-million-but-may-face-legal-battle-with-creditors" target="_blank">Cameron bought it back the following year</a> after striking a $5.5 million deal with creditors, keeping the chain from liquidation.
Administrators Deloitte were not impressed, arguing creditors had more to gain from rejecting the offer, and making allegations to ASIC that Cameron’s company had traded while insolvent.
Brian Walker, chief executive of the Retail Doctor Group, says that the continued troubles at Retail Adventures are part of broader market forces affecting discount retail outlets.
“There are no surprises there – we had the Reject Shop <a href="https://www.smartcompany.com.au/growth/economy/42336-pacific-brands-and-the-reject-shop-in-a-sweat-over-cool-consumer-confidence" target="_blank">downgrading profits yesterday</a>. Discount department stores are struggling to cope with the rise of online, where you can get similar goods for even cheaper,” he says.
Walker says it would not be surprising if many of the closed stores are metropolitan-based, considering the strong competition in those areas from larger department chains.
“These stores are under pressure from stores like Kmart – the most profitable department store in the country – because their prices are low too,” he says.
“A lot of the problems discount stores are experiencing have to do with locational factors – there might be a future for these stores in deep, regional Australia, but maybe not for very long,” says Walker.
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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More trouble for Jan Cameron with 50 Retail Adventures stores set to close

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In the June 2014 Productivity Commission interim report the Relative Costs of Doing Business in Australia: Retail Trade it notes that one of the major costs for retailers is, of course, occupancy.
However, it also suggests that the high costs may be partly due to restrictive planning.
“Occupancy costs, including rent, also account for a substantial share of many retailers’ costs of doing business in Australia. In this context, a number of submissions have pointed to what they view as unnecessarily restrictive approaches to planning and zoning by state and local governments as contributing to higher costs for retailers —both in terms of rents and compliance,” the <a href="/news">findings note</a>.
“The Commission previously estimated that reforming development assessment processes that apply to commercial and industrial sector applications (which includes applications for retail space) could generate net cost savings of around $240 million per year.”
With rents and other costs rising at a faster rate than capital prices and final retail prices (as can be seen in the graph), clearly this is an issue for all retailers and landlords providing their accommodation.
<img src="/images/2014/06/11/chart%20june%2011%20one.png" alt="">
Source: Relative Costs of Doing Business in Australia: Retail Trade Productivity Commission Interim Report June 2014
You can see how rental costs compare to overseas below.
<img src="/images/2014/06/11/chart%20june%2011%20two.png" alt="">
Source: Relative Costs of Doing Business in Australia: Retail Trade Productivity Commission Interim Report June 2014
Occupancy costs are without a shadow of a doubt highly related to location.
Those who are not in prime real estate and higher rent situations do not often consider it a major issue, while those that are and that pay significantly little rent as a percentage of sales also do not.
The Commission notes it seeks further information on the costs of doing business, including rent, across different categories of retailers in Australia.
This includes the extent to which these costs have changed in recent years, the impact of business size on cost structures and the extent to which e-commerce is affecting cost structures.
The Commission also seeks further information on the impact of planning and zoning laws on occupancy costs, as well as asking: "To what extent are occupancy costs also influenced by the behaviour of retail property owners?"
<img src="/images/2014/06/11/chart%20june%2011%20three.png" alt="">
Source: Relative Costs of Doing Business in Australia: Retail Trade Productivity Commission Interim Report June 2014
The final report is expected in October 2014.
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Costs of doing retail business sees Productivity Commission set to look closer at rents

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The global fast-fashion giant Zara’s local offshoot is highly profitable. But the financial results for the Australian stores suggest the initial queue forming, love affair was moderating, according to the Australian Financial Review.
Spain’s retail juggernaut has nine Australian outlets.
Documents lodged with ASIC show Zara’s revenue rose 32% to $141 million for the 12 months to 31 January, down on the 56% revenue growth recorded in 2013.
The documents reveal the first earnings dip since its 2011 arrival with the 2014 profit down $1.52 million, some 8.5%, to $16.46 million.
Costs escalated as its store roll-out triggered administration costs up 146%.
The cost of goods sold are increasing ahead of sales.
Macquarie Private Wealth obtained Zara’s financial results noting average sales per Zara store had continued to fall since it first entered the market, down from $42.8 million in 2012, to $25.8 million in 2013, and most recently to $18.2 million in 2014.
‘’It also appears that the initial stores have been more productive than the later stores, potentially highlighting store maturation, increased competition from other new entrants including Topshop,’’ Macquarie suggested.
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Zara nine store roll out triggering lower profits in Australia

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St George Bank has announced the closure of its branch at <a href="/news">Cootamundra</a>.
It continues the recent revived trend of bank closures headed by ANZ.
The ANZ intends to close seven more branches, which will take the total closures to 19 over recent months.
Most of the latest seven are in regional centres, including <a href="/news">Healesville</a> in Victoria and Tamour in New South Wales.
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St George bank closes Cootamundra branch

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Last month 746-748 George Street, Sydney was sold for $11.5 million.
The vendor investment syndicate sold <a href="https://www.realcommercial.com.au/property-retail-nsw-sydney-501094587" target="_blank">to a Hong Kong investor </a>with competitive bidding at its Cooley Auction.
Bing Lee occupies the ground floor and basement. It is a four level building on a 304 square metre with a total building area of 984 square metre.
The rent was below market according to the agent, Raymond Hung at Ray White City South.
The estimated total rent was $510,000 per annum, plus GST assuming fully let.
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