<a href="https://www.apartments.com.au/developments/broadbeach-qld-4218">Broadbeach</a> offers plenty of reasons to live vertically, but moving from a substantial family home into an apartment can expose the compromises of high-density living. Privacy, room for guests and usable living space tend to matter more when an apartment is intended as a permanent home rather than an occasional coastal base.

A typical residential floor at <a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a>, on Surf Parade,&nbsp;contains just four apartments. The 94-residence development by <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> is predominantly made up of expansive three-bedroom homes, with a limited collection of half-floor penthouses above.

Across the apartment floors, <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has used the relatively limited number of residences to give each home greater access to natural light and outlook. Living spaces extend towards full-height glazing, while a series of bay windows frame selected views across the Pacific Ocean, city and hinterland rather than treating the building edge as a continuous wall of glass.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360965]

“The apartment floors deliver a collection of homes that embrace controlled outlook via a series of bay windows deliberately framing moments of view,” Rothelowman Director Kim Lowman said.

From outside, those projecting forms contribute to the tower’s faceted profile. Strong horizontal and vertical elements establish its proportions, while the changing position of the sun alters the light, shadow and reflection across the façade throughout the day.

The same attention moves inside the apartments, where the material palette combines warm timber, natural stone, metallic detailing and softer curved forms. Kitchens sit within the main living zone, with stone island benches, integrated joinery and European appliances, before the living areas extend towards the glazing and the outlook.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360981]

Three genuine bedrooms provide room to accommodate family and guests, while two secure car spaces and storage address some of the practical considerations that can become more noticeable when moving from a larger home. Feedback from the display suite has centred on the warmth and restraint of the interiors, with buyers commenting that the residences feel like homes rather than conventional coastal apartments.

A limited collection of half-floor penthouses occupies the upper levels, increasing the scale of the living spaces and adding private balconies and elevated finishes. From this position, the outlook extends between the ocean and hinterland.

Outside the private residences, The Eveleigh separates its shared spaces between the podium and rooftop. The podium is centred on wellness, with subtropical landscaping surrounding a swimming pool and pool terrace, yoga garden, private gymnasium, sauna and hot and cold plunge facilities. Landscaped retreats and pavilions provide additional places to sit away from the main recreation areas.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360966]

Higher in the building, a rooftop pavilion and private dining suite sit alongside resident lounge, barbecue and outdoor dining areas, opening towards panoramic views across the ocean, city and hinterland.

“Buyers are no longer just looking for an apartment, but a lifestyle where they can relax, reset, and enjoy a balanced way of living,” Hirsch &amp; Faigen Director of Sales Matt George said.

Interest to date has come from established owner-occupiers and interstate lifestyle purchasers, including buyers planning a future move to the Gold Coast. Many are coming from larger homes and want to reduce ongoing maintenance without giving up space for family and guests, privacy, two car spaces or the ability to entertain at home.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360969]

Much of that daily life can also take place beyond the building without requiring a drive. Kurrawa Beach and Pratten Park are an easy walk from Surf Parade, while Pacific Fair, Oracle Boulevard, The Oasis, restaurants, cafés, entertainment and public transport are also within walking distance.

The Eveleigh is Hirsch &amp; Faigen's fourth Gold Coast development since entering the market in 2021, following The Hemingway at Palm Beach, The Emerson at Kirra and Yves at Mermaid Beach. Each of the preceding projects sold out before completion.

“Broadbeach had been on our radar throughout our time operating on the Gold Coast,” the developer said. “Following our projects in Palm Beach, Kirra and Mermaid Beach, Broadbeach represented the natural next step for the business.”

The Surf Parade site brought together proximity to the beach, protected coastal outlooks and walkability to dining, shopping and recreation. Hirsch &amp; Faigen also identified the street as an emerging premium residential address, with enough separation from Broadbeach's busier destinations to retain a quieter environment at home.

The Eveleigh is now under construction by Maxcon, with completion forecast for mid-2028. Three-bedroom residences are currently available from $2.87 million.

[smartcode_project_cta:default project_id=149670]

Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

A long-stalled Campbelltown development site is back in play, with new plans for 139 apartments set to supersede a mixed-use scheme approved almost a decade ago but never built.

The new proposal for 28 Cordeaux Street would deliver 116 market and 23 affordable apartments in a part 14-storey building, bringing a substantial new project into a Campbelltown market where new apartment supply remains limited.

Plans have been filed over the 3,092 sqm corner site at Moore-Oxley Street, around 600 metres from Campbelltown Railway Station and the city-centre retail core.

The site already carries a mixed-use residential approval dating to 2016. Doroch Architects has now been engaged on a larger replacement scheme, which is progressing as a State Significant Development Application following a Housing Delivery Authority determination in August 2025.

The apartment mix comprises 39 one-bedroom, 72 two-bedroom and 28 three-bedroom residences. Two-bedroom apartments make up just over half of the project, while three-bedroom homes account for 20 per cent.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="136dd5b9-3791-4da6-9e31-76f533f5b4de" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da2.png?VersionId=LgOSy9nwf5u.MGswBBwaGGxuX8QpHSl_" />

Of the 139 apartments, 23 will be delivered as affordable housing under the in-fill affordable housing provisions of the Housing SEPP. The affordable component represents 15 per cent of the residential gross floor area and will be managed by a registered Community Housing Provider.

Doroch has sought to break the scale of the building into two distinct elements, with a masonry podium of around four storeys establishing the street edge before the residential tower steps back above.

The corner position has shaped that approach. Cordeaux Street faces toward the commercial and civic centre, while Moore-Oxley Street leads into the lower-scale residential neighbourhood to the south, and the design verification report describes the site as "bridging the commercial core to the north and established residential areas to the south."

The podium will be expressed predominantly in face brick, while the upper levels shift to brushed and grooved concrete cladding with darker metal detailing. Recessed sections, deep balcony edges and landscaping break down the upper form, with an approximately 11.8-metre setback to the northern boundary addressing the adjoining St Peters Anglican School.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="c8b3d2d3-c561-4bfc-a5d9-a68c0c10dac1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da1.png?VersionId=AeAEyJU02Gk2k5noUj2StziCvdQ7fW4B" />

Campbelltown has been starved of new residential developments in the last decade.

The only other notable development set to come to market this year is ALAND's Queen Square, a mixed-use precinct on over two hectares that will comprise apartments above a vibrant ground-level retail and hospitality dining precinct.

First look: New 139-apartment plans revive long-stalled Campbelltown city centre site

First Look: Sherlock Construction pitches apartments for low-rise Deception Bay

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

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

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

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

Stockland

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Stockland has placed first on the Dow Jones Sustainability Index (DJSI) for the fifth time.
The index looks at the financial performance of sustainability-driven companies across the world and seeks to provide asset managers with objective benchmarks to manage sustainability portfolios.
Categories assessed include corporate governance, risk management, climate change strategy, environmental management, human capital development and stakeholder engagement.
Mark Steinert, Managing Director and CEO at Stockland, said the company was proud to be recognised for its sustainability practices.
"Having been a member of the DJSI World for the past 12 years, this accolade truly demonstrates our commitment to sustainability leadership,” he said. 
"At Stockland we have taken a proactive and holistic approach to sustainability, developing policies and implementing initiatives that have cemented our industry leadership for more than a decade.”
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j.ballantyne1990-6AQqhLzZaK

Stockland tops Dow Jones sustainability index

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<a href="/developers/stockland">Stockland</a> is making good on a plan to realise a major mixed-use development in suburban <a href="/new-apartments/epping-nsw-2121">Sydney's Epping</a>, lodging plans last week that will pave the way for a substantial tower.

At the heart of the $181.5 million build is a new 29 storey building that would be dedicated to a residential aged care and independent seniors living units. The size and sophistication of aged care developments across the nation has advanced markedly in recent years, although Stockland's bid for <a href="/developments/epping-nsw-2121">29-33 Oxford Street</a> and 6-14 Cambridge Street is by far and away the nation's tallest.

Already a leading retirement living provider, Stockland in league with the Catholic Diocese of Broken Bay intend to deliver the project which would stand on the grounds of Our Lady Help of Christians Church.

As such the project is multi-faceted in that offices, retail, a primary school and ancillary church uses are also included.

<h2>29-33 Oxford Street application summary</h2>

<figure><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/image41_13.jpg" rel="gallery-all" title="Street level perspective. Image: Architectus"><img alt="" class="image-article-full-width-580px" height="255" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/image41_13.jpg?itok=l4eHlKNK" title="Street level perspective. Image: Architectus" width="580"></a>

<figcaption>Street level perspective. Image: <a href="/architects/architectus">Architectus</a></figcaption></figure><ul>
<li>Tower to stand 95.9 metres</li>
	<li>Included is a 132 bed residential care facility and 205 independent seniors living units</li>
	<li>2-3 storey primary school for 210 students with a second stream school planned, boosts student numbers to 420</li>
	<li>200 seat parish hall</li>
	<li>Landscaped public areas</li>
	<li>Basement provisions for 372 vehicles</li>
</ul>
<a href="/architects/architectus">Architectus</a> conceived the precinct design, and in their Urban Design report outlined the opportunity the sizeable site provides:

<blockquote>
This is an extraordinary proposal for an extraordinary site. Unlike adjacent developments, the proposal will provide great public benefit to the locality, including parish, education, cultural, residential and retail facilities.

The proposal has been designed for the long term and intends to consolidate the Parish’s contribution to the community for the next 100 years. The proposed housing in the vicinity of the Town Centre and Epping Station, will keep elderly residents engaged and connected to the community for a longer period of time.

Similarly, the proximity of the elderly to young children creates the potential for mutual benefit, while prolonging the health and happiness of our oldest citizens.
</blockquote>

Stockland first flagged its intentions for the site during May after announcing the tie up with the Catholic Church. At the time Stockland’s CEO of Retirement Living Stephen Bull noted:

<blockquote>
The site for the proposed new community is within walking distance to rail, which will soon be upgraded to Metro, and the Epping town centre.

We know seniors want to be part of a vibrant, thriving community close to public transport, shops, clubs, cafés and restaurants, and we want to provide options for people to remain living in the communities they know and love as they age, close to families, friends and services.
</blockquote>

The existing heritage-listed church will be preserved enhanced externally.

<figure><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/image37_10.jpg" rel="gallery-all" title="Aged care among many purely residential towers. Image: Architectus"><img alt="" class="image-article-full-width-580px" height="356" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/image37_10.jpg?itok=CLVIUjkW" title="Aged care among many purely residential towers. Image: Architectus" width="580"></a>

<figcaption>Aged care among many purely residential towers. Image: Architectus</figcaption></figure>Stockland is already heavily vested in the national aged care sector with over 12,000 residents calling a Stockland retirement village their home.

Whilst the Epping application is noteworthy for its sheer height, it is not the only substantial development Stockland has on its agenda. The developer continues to push for a <a href="/news/stockland-pushes-for-the-pines-to-include-retirement-apartments">mass redevelopment of its Stockland the Pines shopping centre</a> in <a href="/new-apartments/doncaster-east-vic-3109">Melbourne's Doncaster East</a>; included there were 283 retirement living apartments although Manningham City Council stymied the application mid year.

Birtinya Vertical Village also counts itself in the Stockland stable. South of Sunshine Coast, the project is all but complete and features a string of multi-level retirement villages with supporting services.

<figure><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/image91_4_0.jpg" rel="gallery-all" title="Stockland's Doncaster East bid. Image: Plus Architecture"><img alt="" class="image-article-full-width-580px" height="273" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/image91_4_0.jpg?itok=82tZnH32" title="Stockland's Doncaster East bid. Image: Plus Architecture" width="580"></a>

<figcaption>Stockland's Doncaster East bid. Image: Plus Architecture</figcaption></figure>
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silvermb

Stockland moves on the nation's tallest integrated aged care development

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Construction has started on the first townhouses at Stockland’s masterplanned Orion at Braybrook community in Melbourne’s inner-west .
Some 30% of the project already sold.
Located 12.2 kilometres from Melbourne’s CBD, the new 11.5-hectare townhouse community is the largest standalone infill townhouse development in Melbourne’s inner-west.
Work has commenced on the first stage with Stockland engaging townhouse construction specialists, Glenvill Projects, to deliver stage 1. 
Ben Cantwell, General Manager of Retirement Living and Medium Density at Stockland, said Stockland has made a commitment to the City of Maribyrnong to ensure the development meets the council’s 5% Affordable Housing Target.
Townhouses are currently available for sale in Stage 2 of the project after the first stages sold out late last year.
Orion at Braybrook will comprise up to 422 contemporary townhouses on completion, with a range of two, three and four-bedroom designs available to homebuyers looking for low-maintenance living adjacent to 10 hectares of parkland with two train stations nearby.
The two and three-storey townhouses will feature flexible floor plans, quality fixtures and fittings, intelligent open-plan interiors and private courtyards and balconies.
Every townhouse is design to achieve a minimum energy rating of 6 stars with natural light and airflow, solar-boosted hot water systems and energy efficient LED lighting to reduce energy bills.
With Footscray’s café culture on their doorstep, townhouses are currently available from $699,000 for a three-bedroom, two-bathroom design with a single garage. 
 
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Construction starts on Stockland's flagship townhouse development at Braybrook

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Stockland has sold the Wallsend Shopping Centre in Newcastle to Sydney-based Haben Property Group for $81 million – reflecting a yield of 6.6%.
The 12,000 square metre shopping centre, anchored by Coles and Aldi supermarkets, is set on a 42,114 square metre site, some 11 kilometres west of the CBD.
The sale was in line with Stockland's book value.
The 1988 centre includes 37 specialty stores, including three kiosks, one office, five ATMs and a McDonald’s.  
CBRE, who sold the property, noted a lower supply pipeline of new shopping centres was being offered to the market across NSW. 
According to CBRE Research, just over 12,000 square metres of new space is forecast for delivery in 2018 – well below the long-term average of 47,500 square metres.
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Stockland sells Wallsend Shopping Centre for $81 million

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Several factors are changing the Australian retail landscape and increasing the importance of shopping mall location and quality for mall owners, according to Moody's.
These factors are changes in consumers' shopping habits, including the growing popularity of online shopping, sluggish consumer spending growth, and increasing urbanization that is widening the wealth gap between metro areas and the rest of the country suggests that latest report from Australian real estate trusts (A-REITs).
"These factors will have varying effects on the five single-A-rated (A-REITs) with retail exposure over the next three to five years," the Moody's report said.
"Scentre Group, GPT Group and Mirvac Group are better equipped to face these challenges and will maintain their portfolio quality because of their malls' favorable tenant mixes and locations in wealthy and densely populated catchment areas."
The report notes that it "expects year-on-year retail comparable net operating income (NOI) growth to be 3.0%-3.5% for Mirvac during the coming 12-18 months, and 2.5%-3.0% for GPT and Scentre."
Without recycling initiatives, portfolio quality will weaken for Vicinity Centres (A2 stable) and Stockland Group (A3 stable), whichhave higher exposure to underperforming, midsize shopping malls.
It is expected their retail comparable NOI growth will remain below the others in the peer group, with Stockland at 2.2%-2.4% and Vicinity at 1.4%-1.6% during the coming 12-18 months.
The three A-REITs' exposure to the retail sector varies, it is around 20% of group EBIT for Mirvac, 30%-35% for Stockland, and 40%-50% for GPT according to the report.
Of the three, Moody's suggests Stockland's portfolio is the most exposed to the changes in the retail sector because of its lower asset quality and higher exposure to midsize assets located in areas with weaker economic fundamentals.
"Vicinity and Stockland are working to improve asset quality, their plan's are to sell weaker performing assets and to develop residential, hotel and office space at existing malls are likely to improve their portfolio quality. However, we believe that they are unlikely to make step changes in their portfolio quality as it will take time to market assets and find appropriate buyers at this point in the property cycle," noted the investment analysers.
<img src="https://www.urban.com.au/images/2018/6/22/Moody%20Graph%201.JPG" alt="">
The retail environment is challenging and shopping mall owners have been facing slowing retail sales growth in Australia for the past four years, driven by low wage growth, rising household costs and, more recently, moderating house price growth, especially in Sydney and Melbourne.
These factors will continue to challenge retail A-REITs and their tenants, because they will constrain consumer spending and retail sales over the next 12-18 months.
<img src="https://www.urban.com.au/images/2018/6/22/Moody%20Graph%202.JPG" alt="">
Additionally, the increasing popularity of online shopping will slow sales for traditional brick-and-mortar retailers and increase competition among shopping malls.
Despite what was only a soft launch of Amazon.com, in 2017, the percentage of retail sales made online in Australia (by dollar value) was 7.5%, the report noted.
With online sales in more established markets like the US and the UK at 12.5% and 15.5%, respectively, the Australian online market has room to grow over the next several years.
In move to capture a greater share of this growth, Amazon launched its subscription-based free delivery service, Amazon Prime, on 19 June at half the price of membership in the US.
Shopping mall owners are adapting to the increasing popularity of online shopping by expanding digital, social media, and mobile retail offerings as well as increasing their weighting to service-based tenants.
The report expects, "A-REITs to maintain this focus as they look to maintain their relevance in the face of changing consumer habits".
"As sales growth slows, expect retailers to focus more on store productivity across their existing networks."
<img src="https://www.urban.com.au/images/2018/6/22/Moody%20Graph%203.JPG" alt="">
The recent acceleration of store closures, particularly from large department stores such as Myer, Target and Big W that are actively looking to scale back their sizable footprints, will alter shopping malls’ tenant mixes and weaken their ability to re-lease space now occupied by specialty stores at values above previous leasing arrangements.
The report forecasts that, struggling retailers will continue reducing floor space and closing stores but that despite these challenges, solid economic conditions are expected, which combined with stringent planning and zoning restrictions that limit new shopping mall development, will continue to support A-REITs' shopping mall portfolios and credit quality.
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Stockland's retail portfolio most exposed as Australian retail landscape changes: Moody's

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Two months after planning manoeuvres came to light facilitating the <a href="/news/crows-nest-earmarked-for-sydneys-next-major-skyscrapers">delivery of two major skyscrapers</a> in Crows Nest, adjacent St Leonards is potentially up for a similar scaled development.

Stockland has identified 601 Pacific Highway as ripe for renewal, enlisting Architectus to create a planning proposal for two hulking towers. Spanning 63 levels and 45 levels, the taller of the duo would stand in excess of 200 metres above ground, whilst the shorter tower reaches approximately 145 metres.

The real estate company's push to realise the site's rezoning and subsequent redevelopment in light of the NSW Department of Planning and Environment's strategic review of the St Leonards and Crows Nest Station Precinct which effectively encourages intensified development in the area.

Standing as a 13 storey A-grade office tower approximately 200 metres east of St Leonards railway station, the asset was acquired by Stockland during 2003 with an eye toward a future renewal opportunity.

<figure><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/image19_21.jpg" rel="gallery-all" title="Podium space envisaged for 601 Pacific Highway. Planning image: Architectus"><img alt="" class="image-article-full-width-580px" height="388" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/image19_21.jpg?itok=oI3RgCZe" title="Podium space envisaged for 601 Pacific Highway. Planning image: Architectus" width="580"></a>

<figcaption>Podium space envisaged for 601 Pacific Highway. Planning image: Architectus</figcaption></figure>That opportunity will under preliminary plans see Stockland chase a predominantly residential outcome across the site, with 500 plus apartments expected. 5 basement levels for 255 vehicles are included, as is a mixed-use 7 level podium.

Office space is slated for the podium above ground floor retail uses, with community uses such as a childcare facility spanning almost 2,000 square metres.

In Architectus' words "601 Pacific Highway will be a place where people shop, live, work and gather to enjoy the public domain. The indicative concept design results in a design outcome which will strengthen the town centre with active and engaging ground floors and provide an iconic tower appropriate to its strategic location."

Stockland's bid is comfortably the largest proposal for the suburb north of Sydney's CBD. St Leonard's rapidly evolving skyline sees existing towers reaching 35 levels, whilst 617-621 Pacific Highway has approval in place for a 180 metre residential tower.

617-621 Pacific Highway abuts the Stockland site.

<figure><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/image20_14.jpg" rel="gallery-all" title="601 Pacific Highway and within an emerging built form context. Planning image: Architectus"><img alt="" class="image-article-full-width-580px" height="231" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/image20_14.jpg?itok=yJ6Vu9wG" title="601 Pacific Highway and within an emerging built form context. Planning image: Architectus" width="580"></a>

<figcaption>601 Pacific Highway and within an emerging built form context. Planning image: Architectus</figcaption></figure>Urbis compiled the Economic Impact Assessment for the rezoning of 601 Pacific Highway, making note that "North Sydney, Macquarie Park and Chatswood are now deemed more attractive for traditional office occupiers. The following market evidence indicates that this trend will continue for the foreseeable future:"

Although 7,500 square metres of office space is included within the planning proposal, it falls short of the existing building's 12,600 square metres.

Architectus' design for 601 Pacific Highway would potentially accommodate as many as 1,187 new residents, whilst an additional full-time, part-time and casual retail job rate of 109 is envisaged.

For Stockland, the bid to rezone the Pacific highway site reaffirms its re-emergence as an apartment developer in Sydney. The St Leonards site aside, Stockland has in its keep a 6237 square metre Rosebery development site and a <a href="https://www.propertycouncil.com.au/Web/Content/News/National/2018/McDonald_s_moves_into_apartments_with_Stockland.aspx">Parramatta opportunity</a> on the corner of Church Street and Victoria Road with plans approximately 350 apartments.

<figure><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/image22_17.jpg" rel="gallery-all" title="A childcare centre with a view. Planning image: Architectus"><img alt="" class="image-article-full-width-580px" height="317" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/image22_17.jpg?itok=HaJtuM15" title="A childcare centre with a view. Planning image: Architectus" width="580"></a>

<figcaption>A childcare centre with a view. Planning image: Architectus</figcaption></figure>
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Stockland plans to supersize its St Leonards renewal opportunity

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Former Stockland boss Matthew Quinn and wife Julie have scored quick buyers for their Berry weekender, with intentions of upgrading in the NSW South Coast town.
The Berry property, once known as Gladys, spent just 22 days on the market, well down on the town's 86 average.
The Quinn's paid $710,000 for the 1880s country weatherboard.
It has since been restored the heritage home.
The four bedroom quintessential cottage sits in 1070 square metres of gardens.
Carrie Bond at South Coast Properties agent secured the quick sale, though without revealing its sale price.
She described the home as one of the historic village's finest residences, having once accomodated Australian nun Mary McKillop.
Up in Sydney the couple's renovated two bedroom Kirribilli home has been quickly sold too, fetching $3.45 million, just over a year after they paid $2.6 million.
McGrath Neutral Bay agents Nigel Mukhi sold the home.
Quinn was managing director of Stockland for 13 years and is currently a non-executive director of Regis Aged Care, CSR Limited and Landcom, and chairman of Class Limited and Carbonxt Group Limited.
This article first appeared in The Sunday Telegraph. 
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Former Stockland boss scores quick Berry sale

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Australia’s largest residential developer, Stockland HAS announced the acquisition of a new development site 4.5 kilometres north of the Perth CBD, adding 100 terrace homes to its Perth pipeline.
The 2.84 hectare site at Glendalough is Stockland’s first standalone acquisition for medium density development in Perth.
Subject to approvals, IT will create 100 architecturally-designed terrace homes in a high quality, liveable and walkable community setting, featuring 2,500 square metres of parklands, including large mature trees, just 600 metres from Glendalough train station. 
Ben Cantwell, General Manager, Medium Density and Retirement Living at Stockland, said the location just north of the Perth CBD, within walking distance to a rail station which is only two stops to the city, and in close proximity to Lake Monger, local schools, shops and the vibrant Subiaco and Leederville entertainment precincts. 
Col Dutton, General Manager of Stockland WA, said the latest purchase follows its $91 million acquisition of more than 4,600 residential land lots over three sites last year.
"This site is an important opportunity to help deliver on the ‘missing middle’ in Perth’s inner suburbs, increasing choice for home-buyers through well-designed terrace homes, close to everything the city has to offer," Dutton said.
Stockland purchased the Glendalough site from a private vendor for $17.9 million, subject to a leaseback agreement with the current aged care operators on site until completion of their new aged care facility on land immediately to the north.
Located adjacent the Mitchell Freeway, the site is in close proximity to Lake Monger Primary School.
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Stockland announce new development in Perth’s north

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ASX listed property player Stockland is intent on adding to its <a href="https://www.stockland.com.au/retirement-living">already extensive portfolio</a> of Melbourne retirement living villages by seeking to hive off a part of The Pines Shopping Centre in Doncaster East for hundreds of new retirement living apartments.

Although keen to diversify uses across the centre, Stockland may find it more difficult to realise the outer suburban project in its submitted form. Last week Manningham City Council released a planning report for the proposed 283 retirement living apartments, waving away any intentions of approval.

At 181 Reynolds Road the Doncaster East development sits on the perimeter of Stockland's The Pines Shopping Centre which accounts for a considerable 77,633 square metre footprint.

Stockland and Plus Architecture have positioned the new development on the Reynolds Road and Blackburn Road intersection, replacing an open air car park south and west of the existing shopping centre.

<figure><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/image91_4.jpg" rel="gallery-all" title="Street level perspective. Planning image: Plus Architecture"><img alt="" class="image-article-full-width-580px" height="273" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image91_4.jpg?itok=EH_ddIQO" title="Street level perspective. Planning image: Plus Architecture" width="580"></a>

<figcaption>Street level perspective. Planning image: Plus Architecture</figcaption></figure>Four multi-storey buildings constitute the development and are supplemented by communal facilities and 835 car spaces (with a portion dedicated to shoppers). Owing to the gradient of the site the tallest building spans approximately 35 metres above the street level.

Manningham City Council's response has been less than ideal from Stockland's perspective.

Council has listed a raft of issues with the Doncaster East application, ranging from non compliance with aspects of The Pines Activity Centre Structure Plan, insufficient community benefit and architectural excellence relative to height and scale, inadequate protection of internal amenity and concerns relating to any future expansion of the shopping centre and bus interchange.

Consequently, Manningham City Council's internal planners have recommended that the proposal be rejected outright.

Accounting for 21,478 square metres of the existing site, the buildings would also include 7 retail spaces amounting to 1,003 square metres, and a medical centre for 10 practitioners over a 500 square metre foorrprint.

Of the 835 car spaces included in the project, 342 are dedicated to residents, 28 to visitors and a hefty 465 would add to the already 1,000 plus which are rolled into the centre.

Manningham City Council last week ruled against the proposal. Having been at planning since mid 2017 and based upon Council's decision, Stockland likely now faces a stint at VCAT or a substantial redesign in order to add the Doncaster East site to its retirement living portfolio.

<figure><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/image147_0.jpg" rel="gallery-all" title="Render from inside the centre. Planning image: Plus Architecture"><img alt="" class="image-article-full-width-580px" height="368" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image147_0.jpg?itok=0Bga6sgv" title="Render from inside the centre. Planning image: Plus Architecture" width="580"></a>

<figcaption>Render from inside the centre. Planning image: Plus Architecture</figcaption></figure>Aged care and retirement living in the area has been boosted of late by two other significant projects. Cockram during 2017 completed the first stage of a significant CHT Architects-designed independent living centre in Templestowe; it includes 150 bedrooms over four levels plus associated amenites and admin offices.

Urban.com.au during March highlighted <a href="/news/benetas-goes-bigger-on-doncaster-hill">Benetas' bid to upscale their Doncaster Road development</a> to include 74 independent living units and a 128 room residential aged care wing.
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Stockland pushes for The Pines to include retirement apartments

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The former Stockland boss Matthew Quinn and wife Julie have snappily sold their renovated Kirribilli terrace for $3.45 million.
It's a <a href="https://www.realestate.com.au/sold/property-house-nsw-kirribilli-127738714" target="_blank">quick flip for the couple</a>, who only paid $2.6 million in late 2016.
McGrath Neutral Bay agent Nigel Mukhi had a guide of $2.9 million. After 90 groups went through and it sold to downsizers from Pymble.
The Quinn's are also selling their Berry weekender, an 1880s country weatherboard, which has been restored by the couple who paid $710,000 four years ago.
They're set to upgrade and base themselves in the South Coast village.
Quinn stepped down from Stockland Group in 2012.
This article was first published in the Saturday Daily Telegraph.
 
 
 
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