Melbourne developer Spacious Group has completed Voyage Altona, one of the closest new apartment developments to Altona Beach.

Off the plan purchasers have started moving into the 49-apartment project on Pier Street, with the remaining move-in-ready one-, two- and three-bedroom apartments starting from just over $500,000.

Display apartments have now been fitted out, allowing prospective buyers to inspect the completed residences by appointment.

[smartcode_project:default project_id=112195 project_image_fid=372638]

The completed apartments feature open-plan living and dining areas which extend onto private balconies and terraces, while full-height glazing maximises natural light throughout the interiors.&nbsp;

Hybrid timber-look flooring, stone benchtops, Miele appliances, porcelain-tiled bathrooms and generous storage feature throughout the building which also features landscaped communal areas, expansive shared terraces, lift access and secure on-grade parking.

Drawing inspiration from its bayside setting, Voyage adopts a restrained palette of warm neutral tones and textured finishes. Many of the apartments take advantage of views across Port Phillip Bay, while the indoor-outdoor living spaces have been designed to make the most of the coastal outlook.

[smartcode_project:default project_id=112195 project_image_fid=3286]

Voyage was developed to address what Spacious Group identified as an undersupply of higher-quality apartment product in Altona, with a focus on owner-occupiers looking to remain within the bayside community.

"Voyage responds to very strong local buyer demand for quality, owner-occupier-focused product," says Barry Plant Projects Director Jarrod Farey, who has handled sales since the project's launch.

"The project delivers an elevated lifestyle proposition, with its design and quality of finish far exceeding anything previously produced in the area, as well as its proximity to Pier Street Village and the beach."

The majority of purchasers have been local downsizers and owner-occupiers looking to stay within the Altona community but who previously had limited opportunities to buy a brand-new apartment.

[smartcode_project_cta:default project_id=112195]

Joel Robinson

Spacious Group completes Voyage Altona in Altona's beachside precinct

Homecorp has secured approval for a $360 million apartment development at Budds Beach, paving the way for one of the Gold Coast's most amenity-rich residential projects to launch later this year.

Gold Coast City Council has approved Lýon Residences, a 32-level tower that will deliver 178 two and three-bedroom apartments across a prominent corner site at 8-10 Acacia Avenue and 25-27 Oak Avenue.

The approval comes as developers continue to invest in premium lifestyle-driven apartment projects on the Gold Coast, where owner occupiers are increasingly prioritising amenity as much as apartment size and location.

<a href="https://www.apartments.com.au/new-apartments/l-on-residences-25-27-oak-avenue-surfers-paradise-qld-4217">Lýon Residences</a> has been designed around a resort-style wellness offering, headlined by a Moroccan-inspired spa precinct featuring treatment rooms, a Nordic sauna and steam room, hot and cold plunge pools, a soaking pool and a residents-only juice bar.

The rooftop will include a heated infinity pool and spa, residents' lounge with private kitchen and bar, gymnasium, yoga and Pilates studio, outdoor entertaining areas and barbecue facilities overlooking the Surfers Paradise skyline.

<img alt="Lyon" data-entity-type="file" data-entity-uuid="2d3e29af-8793-486e-a684-52cef862241f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-15%20at%204.32.26%E2%80%AFPM.png?VersionId=ayG2zpLf3SS6Zy8XmKDcQods4kVWb0gm" />

Homecorp Founder and CEO Ron Bakir said Budds Beach provided the ideal location for the company's latest luxury apartment project.

"Budds Beach represents one of the most unique and sought-after pockets of the Gold Coast, and Lýon Residences has been designed to reflect that sense of rarity and refinement," Bakir said.

The project arrives as wellness continues to become a defining feature of new residential developments both in Australia and internationally.

The latest Global Wellness Institute figures show wellness real estate remains the fastest-growing segment of the global wellness economy and is forecast to exceed $1.8 trillion by 2030. Australia continues to rank among the world's 15 largest wellness real estate markets, with developers increasingly integrating health, recreation and community facilities into apartment projects.

Queensland is also experiencing strong population growth, with the Gold Coast continuing to outperform many other Australian cities as demand for new housing remains elevated ahead of the 2032 Olympic and Paralympic Games.

Bakir said the project had been designed to respond to that shift in buyer expectations.

"Strong population growth and sustained demand across the Gold Coast continue to highlight the need for well-designed new housing supply. Lýon Residences responds directly to this demand while setting a new benchmark for residential living," he said.

Each apartment has been designed to maximise views across the coastline, the Nerang River and the Gold Coast hinterland.

Located just minutes from Surfers Paradise beach and the Broadwater, the development also offers easy access to the light rail network, Broadbeach and Burleigh Heads.

Early site works are underway, with construction expected to commence later this year.

Homecorp approved for Budds Beach apartment tower, Lýon Residences

New apartment developments with uninterrupted, north-facing views over Perth's Swan River are exceptionally rare.

Recognising just how limited those opportunities are, <a href="https://www.apartments.com.au/developers/edge-visionary-living">Edge Visionary Living</a>, one of Perth's most respected builder-developers, targeted <a href="https://www.apartments.com.au/developments/applecross-wa-6153">Applecross</a>, assembling an unrepeatable 6,342 sqm riverfront site on the corner of Moreau Mews and Canning Beach Road to create one of Perth's only new north-facing apartment developments directly overlooking the Swan River.

Today, <a href="https://www.apartments.com.au/buildings/riviere-residences-applecross-59-canning-beach-road-applecross-wa-6153">Rivière Residences</a> offers buyers a unique opportunity to choose between completed residences ready to move into now and off-the-plan homes in the final stage, Rivière West.

[smartcode_project:default project_id=28384 project_image_fid=3823]

Across the completed East and Central buildings, residents are already enjoying the development's luxury amenity, while two of the precinct's hospitality venues are now open.

The completed component of the development gives buyers the advantage of experiencing the finished product firsthand, including its uninterrupted river views, while still having the opportunity to secure a residence in the final stage.

"People are wowed by the view and the quality of the apartments,"&nbsp;Edge Visionary Living Sales Executive, Holly McSweeney, says.

"They're looking for the convenience of lock-and-leave living, but they're not looking to downsize on quality."

[smartcode_project:default project_id=28384 project_image_fid=3826]

The rarity of the development hasn't been lost on prospective buyers, McSweeney says.

For McSweeney, it all comes back to a location that is becoming increasingly difficult to replicate.

"Location, location, location," she says. "We are nestled right on the front of the Swan River. You can never get built out, so wherever you are in Rivière Residences, you've got views of the river forever."

The unique waterfront position has resonated particularly strongly with local downsizers. McSweeney says many buyers are long-time Applecross residents looking to transition from large family homes into a luxury apartment without sacrificing space, quality or the lifestyle they've enjoyed for decades.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/N_FowNW0wu8?si=vb25XFq1wZ-iufAW" title="YouTube video player" width="560"></iframe>

A major focus for Edge in recent years has been resident amenity. Across its apartment portfolio, from beachfront developments in Scarborough to luxury towers in South Perth, the developer has increasingly invested in the spaces beyond the apartment itself.

The strategy has largely been shaped by downsizer demand. Many buyers are moving from large family homes with swimming pools and established gardens. While they're looking to leave the maintenance behind, they don't want to compromise on lifestyle.

At Rivière, <a href="https://www.apartments.com.au/architects/hillam-architects">Hillam Architects</a> designed the resident facilities as an extension of each apartment. A 25-metre heated swimming pool takes advantage of the north-facing river outlook, complemented by a large gym, sauna and steam rooms, private dining spaces, residents' lounges, a cinema, games room, and dedicated wine and whisky rooms.

[smartcode_project:default project_id=28384 project_image_fid=372542]

The waterfront location has also proved to be a major drawcard. Residents are within walking distance of the Raffles Hotel, South of Perth Yacht Club, the Heathcote Cultural Precinct and the cafés, restaurants and boutiques along Ardross Street.

Beyond the location and amenity, McSweeney says many buyers take confidence from Edge's fully integrated development model.

Having delivered apartments across Perth for decades, Edge now designs, develops and constructs its projects in-house, giving the company greater control over quality, delivery and the finished product.

"What I love is when people walk through their apartment for the first time and say, 'This is better than what we imagined,'" McSweeney says. "We hear that all the time."

Completed apartments in the East and Central buildings are now available to inspect by appointment, while Rivière West, the final stage of the precinct, is expected to be completed in the first quarter of 2027.

[smartcode_project_cta:default project_id=28384]

North-facing Swan River views drive demand at Rivière Residences in Applecross

Nearly 60 per cent of apartments at McNab Group's $220 million The Tannery development in Brisbane's West End have sold ahead of the project's public launch, including a suburb-record $2.57 million sale for a two-bedroom apartment.

The early sales campaign has secured buyers for 50 of the project's 87 apartments, highlighting continued demand for larger owner-occupier apartments that combine generous floorplans with premium lifestyle amenities in one of Brisbane's most tightly held inner-city suburbs.

[smartcode_project:default project_id=143337 project_image_fid=374768]

McNab Group Executive Chairman Michael McNab said selling more than half the project before launch reflected changing buyer expectations.

"Selling more than half the project before public sales open tells us buyers are actively seeking apartments that offer something genuinely different," McNab said.

"Today's buyers are looking beyond four walls. They want homes that genuinely enhance the way they live, with spaces that support health, connection and everyday wellbeing."

[smartcode_project:default project_id=143337 project_image_fid=374767]

A key point of difference for the project is the adaptive reuse of the heritage-listed Dixon's Tannery building, which will become The Retreat, a residents-only wellness precinct rather than being redeveloped into additional apartments.

The Retreat will feature a sauna and steam room, hot and cold plunge pools, a commercial-grade gym, Pilates studio, cinema, library, co-working spaces and private dining room. Rooftop amenities will include a swimming pool, landscaped gardens, outdoor entertaining areas and dog-friendly spaces.

[smartcode_project:default project_id=143337 project_image_fid=374760]

Designed by Cottee Parker Architects with interiors by Tom Mark Henry and landscape architecture by Aspect Studios, The Tannery comprises 87 two, three and four-bedroom apartments across 11 levels overlooking the Brisbane River.

Cottee Parker principal Dee Passenger said preserving the original tannery building had been central to the project's design.

"The easy option would have been to maximise the site's development potential with additional apartments. Instead, McNab has chosen to preserve the original tannery as a shared wellness retreat, ensuring this important piece of Brisbane's history remains at the heart of the community."

Passenger said sustainability also played a key role in the design, with materials from the original industrial site salvaged and repurposed throughout the development.

[smartcode_project:default project_id=143337 project_image_fid=374761]

Motiv CEO Carly Cottam said buyers had responded strongly to the combination of larger apartments, wellness facilities and the West End lifestyle.

"We are seeing more buyers looking for homes in the sky that provide the space and functionality of a traditional home, while benefiting from the convenience and lifestyle that apartment living brings," Cottam said.

She said purchasers included both owner occupiers and investors, with demand coming from local buyers as well as interstate purchasers.

Coinciding with the public launch, McNab also announced a partnership with Queensland Ballet, whose neighbouring Thomas Dixon Centre shares historical ties with the original Dixon family.

Located on a 4,465 sqm site at 439 Montague Road, The Tannery overlooks the Brisbane River and is around 10 minutes from the CBD.

Construction is underway, with completion expected in the second half of 2027.

[smartcode_project_cta:default project_id=143337]

More than half of residences sold before public sales as McNab announces significant partnership with Queensland Ballet

McNab's The Tannery nears 60 per cent sold before public release, sets two-bedroom West End record

Iwan Sunito's vision for a landmark mixed-use precinct in Sydney's Inner West has taken a major step forward, with approval granted for the $1.9 billion Five Dock development first unveiled earlier this year.

The approved scheme by <a href="https://www.apartments.com.au/developers/one-global-capital">One Global Capital</a> will deliver an 80,500 sqm mixed-use precinct comprising 840 apartments, integrated hotel accommodation, commercial and retail space, alongside publicly accessible open space designed to create a new destination for the growing suburb.

"This is a significant milestone for One Global Capital and for the future of housing delivery in Sydney," Sunito said.

"The Housing Delivery Authority was established to identify major housing projects capable of delivering meaningful supply more efficiently, and we are delighted that Spencer Street has been recognised as one of those projects.”

He said the declaration reflected the rapid progress achieved since acquiring control of the site.

"In less than seven months we have progressed from taking control of the site to securing entry into one of the NSW Government's most important planning pathways. It reflects the experience of our team, the strength of our consultant group led by Urbis, and our long-term commitment to delivering transformational projects that contribute to Sydney's future."

When the project was revealed earlier this year, Sunito described the opportunity as one of the strongest development sites he had worked on.

"I probably hadn't appreciated the uniqueness of the site until more recently when putting together the concept plans," Sunito said.

"The proximity to the water, and the golf course opposite, is unlike any other part of Parramatta Road. We have a unique position and view corridors over the water that makes this one of the best sites I've worked on."

The development has evolved since its initial announcement, with the approved plans increasing the residential component from the originally proposed 750 apartments to 840 homes while retaining the project's focus on creating an integrated neighbourhood rather than a standalone residential development.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/a-city-within-a-city-iwan-sunito-flags-1-5-billion-mixed-use-precinct-in-five-dock">"A city within a city": Iwan Sunito flags $1.5 billion mixed-use precinct in Five Dock</a>

The precinct will combine apartments with hotel accommodation, commercial workplaces, retail offerings and public spaces, creating a mixed-use environment intended to serve both residents and the broader Five Dock community. The proposal also continues the collaboration between One Global Capital and internationally recognised architect <a href="https://www.apartments.com.au/architects/koichi-takada-architects">Koichi Takada</a>, whose previous work with Sunito includes Infinity, Arc and Skye North Sydney.

Takada previously said the design was driven by a philosophy of integrating nature into the built environment.

"The concept for this development is born from our design approach to naturalising architecture," Takada said.

"The public realm benefits from biophilic design that integrates generous landscaping, and the development is optimised for natural daylight, airflow and water views to foster wellbeing, sustainability and spaces that foster community interaction."

Sunito has consistently described the project as a "city within a city", with a strong emphasis on creating a destination that extends beyond housing.

"We want to create a development that's not only to be seen, but to be experienced by the whole local community," he said.

The approval comes as Five Dock continues its transformation ahead of the opening of the Sydney Metro West line, with the new Five Dock station set to significantly improve connections between the Inner West, Parramatta and the Sydney CBD.&nbsp;

The precinct will also benefit from its proximity to the Parramatta Road corridor, nearby waterfront parklands and established retail and dining offerings that have made Five Dock one of Sydney's most tightly held Inner West suburbs.

Iwan Sunito secures approval for $1.9 billion Five Dock mixed-use precinct

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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