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

Stockland

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Stockland Property Group said its interim net profit edged up 0.7 percent to $702 million for the half-year ended December 31 over the same period the previous year, underpinned by strong home price growth, mainly in the eastern seaboard. 
Revenue climbed 9.8 percent to $1.169 billion.
Funds from operations attributable to security holders rose 7.8 percent to $369 million and the developer said it was tightening its outlook to the higher end of its previous forecast of 5 percent -7 percent.
Stockland said it was paying an unfranked interim distribution of 12.6c, payable on February 28 to shareholders of record on December 30.
“We’re pleased to deliver another strong first half result, which has been driven by our ability to create thriving, vibrant communities. We’re implementing our strategy to reshape our portfolio, growing our asset returns and customer base, improve operational efficiency and maintain a strong balance sheet, which has enabled us to increase our distribution to investors,” managing director and CEO, Mark Steinert, said in a press release.
Although its residential operating profit margin fell to 14.1 percent, the developer’s residential business managed 2,853 settlements during the period and entered 2017 with a record 5,807 contracts on hand.
It said the outlook for the full-year operating profit margin for residential was 15-16 percent as it expected strong price growth on the eastern seaboard. The developer said this was due to its focus to create “liveable, desirable communities,” growing market share and continued favourable market conditions.
Its commercial property business grew 3.7 percent in comparable FFO, while the retirement living component increased its operating profit by 43.8 percent to $26 million, which reflected a 1H17 skew, largely due to improved margins and occupancy and the timing of superlot and asset sales.
Stockland also maintained its strong balance sheet and A-/Stable credit rating with gearing at 23.9 percent, which was well within its target range of 20 - 30 percent, said chief financial officer Tiernan O’Rourke. 
Steinert was upbeat on economic conditions continuing to be favourable and expected interest rates to remain relatively low. 
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jonathanchancellor-7SQnKwU6yx

Stockland's half-year earnings rise on strong home price growth

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Stockland has created one of the most sustainable project homes ever built in Australia at its Willowdale residential community at Denham Court in south west Sydney.
It seeks to encourage more environmentally friendly home design and construction.
The two-storey family home has been designed, built and recently certified to the 8 star NatHERS rating, which means the house is designed to achieve close to net zero emissions through its range of energy-saving and ecologically sustainable features.
The Willowdale Community Place is a display home that shows dream homes can save thousands of dollars every year with energy saving inclusions that maximise the warmth of the sun through winter and minimise the impact of the sun’s heat through summer.
It allows customers to choose the energy saving features they would like to include in the construction of their homes.
Andrew Whitson, CEO Residential at Stockland, said the aims was making suburban communities greener.
"Both in a physical sense with more green, open, public spaces, parks, playgrounds, walking trails and cycleways; and showing customers how they can save money over a lifetime through more energy-efficient home design and construction.
“This is not a concept house; all ‘eco’ features, fittings and inclusions are commercially available right now. For example, for a medium-sized home, installing solar panels will cost around $7,000 upfront. On a yearly basis, solar will save that same house between $1,000 and $2000 in energy costs, meaning they will recoup their investment within five to seven years and reaping ongoing cost savings for many years after that.”
NSW Environment Minister Mark Speakman said the NSW Government was committed to making more energy efficient homes the norm.
“Projects like Willowdale set the standard for how communities, industry and government can work together to develop great places to live that are good for the environment,” Mr Speakman said.
Stockland has so far sold more than 1,000 residential lots at Willowdale.
On completion, Willowdale will comprise around 3,300 homes, a neighbourhood shopping centre anchored by a full-line Coles supermarket and specialty stores.
Stockland has also made provision in the masterplan for 25 hectares of parks and playgrounds and the inclusion of a new state primary school.
Key sustainability features of the Willowdale Zero Emissions House:
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Sustainable energy-saving features (for a 25 square home)
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<td valign="top" width="213">
Approximate cost
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5kW solar energy system
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$7000
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Double glazing upgrade
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$6000 extra
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Draught sealing
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$2000
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Insulation upgrade
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$2000 to $3000
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External shading (east and west)
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<td valign="top" width="213">
Cost neutral if offset by not buying expensive heavy internal blinds
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Heating and cooling system
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<td valign="top" width="213">
Typical standard inclusion, so cost neutral
</td>
</tr>
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Other sustainability features:
<ul>
<li>Designed for Silver Livable Housing Australia Compliance and designed to a Silver Level Livable Housing Australia (LHA) rating.</li>
<li>Automatic Edmonds Odyssey home ventilation system which provides energy efficient ventilation. Odyssey air exchange system reduces air conditioning usage through intelligent air exchange between inside and out.</li>
<li>Ecomax concrete, which significantly lower embodied energy than standard concrete. Use of recycled materials and by-products.</li>
<li>Rainwater tank with grey water treatment system to meet the demands of flushing toilets, washing machine and garden maintenance Collection, storage and local reuse of rainwater to serve WCs and outside irrigation. Grey water system captures and reuses domestic waste water (hand basins, laundry and showers) for use in irrigation.</li>
<li>Solar gas boost hot water system</li>
<li>Low Volatile Organic Compounds paint which minimizes outgassing</li>
<li>Tapware specified to the highest water efficiency standards rating available: 6 Star WELS rated tapware with 4 litres per minute of water consumption.</li>
<li>Vegetable garden, compost bin and worm farm</li>
<li>Weather seals to external doors and windows to minimize unwanted outside air entering the home</li>
<li>Energy efficient internal LED lighting</li>
<li>Low maintenance and water tolerant plants used in landscaping</li>
<li>R0.5 Waffle pod concrete is poured over insulating pods providing thermal mass to store energy. The insulating pods reduce heat loss to the ground in winter.</li>
<li>Wall wrap and insulation to internal and external walls, roof and floor.</li>
</ul>
Customers can register their interest in acquiring a block of land at <a href="https://www.stockland.com.au/willowdale" target="_blank">www.stockland.com.au/willowdale</a> or by visiting the on-site Willowdale Sales and Information Centre.
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j.ballantyne1990-6AQqhLzZaK

8 star energy-efficient home by Stockland at Denham Court

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A Dan Murphy’s retail outlet officially has opened in Stockland Green Hills - the first retailer to open following the $372 million shopping redevelopment which began in January. 
The outlet will be 44 percent larger, stock over 3,500 products and offer a ‘Click &amp; Collect’ service with online ordering and in-store pick up.
The redevelopment includes a cool room twice the size, a climate controlled Vintec cabinet to keep wines at their optimum temperature, a tasting station with dedicated in-store tastings manager and specialist sections for Whiskey, Champagne and Sparkling wine. 
Chris Travers, Stockland centre manager, said they are now moving into another stage of the project.  
The next stage of works begins this week and the centre will open the second stage of the 110 space customer carpark at Two Mile Creek, taking the total number of parking spaces to over 870.
Upon completion in April 2018, Stockland Green Hills will feature the first new format David Jones department store in the Hunter with over 225 specialty shops and a vibrant new dining and entertainment precinct.
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Stockland Green Hills gets Dan Murphy’s store

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Stockland has been awarded a position on the Climate A List by CDP, the international not-for-profit that drives sustainable economies.
There are 193 “A Listers” on the list.
Thousands of companies submit annual climate disclosures to CDP for independent assessment against its scoring methodology.
Stockland is among 9 percent of corporations participating in CDP’s climate change program to be awarded a position on the Climate A List, in recognition of its actions to reduce emissions and mitigate climate change in the past reporting year.
Stockland has achieved an unprecedented triple crown.
Stockland is the current S&amp;P Dow Jones Sustainability Indices (DJSI) Global Real Estate Sector Leader and also achieved Global Sector and Regional Sector Leader status in the 2016 Global Real Estate Sustainability Benchmark (GRESB) survey in the category Diversified - Retail/Office.
Mark Steinert, Managing Director and CEO at Stockland, said their company purpose was to "create a better way to live." 
The Climate A List is released in CDP’s Out of the starting blocks: Tracking progress on corporate climate action report today.
The report, which establishes the baseline for corporate climate action, reveals that global corporations have started the transition to a low-carbon economy and some are already capitalizing on the opportunities this affords.
Companies’ progress on reducing emissions in line with the goals of the Paris Agreement will be tracked against this baseline in future annual reports.
Stockland’s key achievements and priorities included:
- Commitment to design and technology innovation and access to alternative energy supplies that help us and our customers realise a cost-efficient, low carbon future.
- Focus on incorporating alternative energy, particularly solar photo-voltaic power supply, into commercial premises. Solar installations already in place at Shellharbour, Green Hills and Nowra in NSW. Stockland is currently installing a new solar PV system at Wetherill Park in western Sydney.
- A large portion of Stockland’s retirement village homes have solar PV installations.
- Stockland is currently exploring how solar can be adopted at scale within our Residential business, with the investigation of different network ownership and management models underway.
- Stockland has the largest number of Green Star rated retail properties in Australia, as verified by the GBCA.
- In FY16 alone, Stockland’s investment in energy-efficient measures across various commercial property assets are likely to achieve projected energy savings of approximately 1,718,000kWh, which is the equivalent energy saving of removing 255 passenger vehicles from the road for an entire year.
- Stockland has prioritised the development of Australian and world’s best practice Green Star residential communities across the nation, and the Green Building Council of Australia (GBCA) has rewarded the company’s leading approach to sustainability and liveability.
- The GBCA has accredited six Stockland communities in Sydney, Melbourne, Brisbane and Perth with either 5 or 6 Star Green Star – Communities ratings. The accreditation assesses and recognises design excellence, innovation, environmental responsibility, potential for future economic prosperity and liveability within each community.
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Stockland secures triple crown recognition for climate change role

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Stockland's chairman, Graham Bradley will step down at the October AGM with Tom Pockett to take on the role.
Pockett joined the Stockland board in September 2014 after 12 years as the chief financial officer at Woolworths.
He was previously deputy chief financial officer at the Commonwealth Bank and before that finance roles at Lend Lease and Deloitte.
Bradley has been a director of Stockland since 2004 and its chairman since 2005.
Bradley's time on the board has seen Stockland's market capitalisation rise from around $6.6 billion in 2004 to around $11.75 billion.
Stockland's annual shareholder meeting is on October 26.
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jchancellor-FAypfDUnLy

Stockland select Tom Pocket as Graham Bradley's replacement

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Stockland performed strongly in FY16, growing asset returns, broadening its customer base and taking advantage of supportive market conditions. Revenues were up 10 percent.
They generated substantial profit growth from its business activities, with FFO of $740 million, up 12.5% on FY15.
Statutory profit was $889 million, down 1.6% on the prior year due to a number of unrealised fair value items.
Stockland's return on equity increased 1.1 percent to 11 percent, excluding workout assets.
<a href="/images/2016/08/17/Screen%20Shot%202016-08-17%20at%209.58.25%20am.png" target="_blank">Click here to enlarge Stockland's growth in FFO and underlying profit</a>
<img src="/images/2016/08/17/Screen%20Shot%202016-08-17%20at%209.58.25%20am.png" alt="" width="643" height="227">
The company's residential, commercial property and retirement living arms all made solid contributions.
Mark Steinert, Stockland managing director and CEO said the company delivered strong results in FY16 by executing strategy and delivering purposes in their communities and properties.
"I’m very pleased that each of our commercial property, residential and retirement living businesses have made significant contributions to the performance of the Group.
"Our commercial property business delivered comparable FFO growth of 4.5% and we achieved a record number of settlements in both our residential and retirement Living businesses. 
<a href="/images/2016/08/17/Screen%20Shot%202016-08-17%20at%209.57.58%20am.png" target="_blank">Click here to enlarge Stockland's key achievements over FY16</a>
<a href="/images/2016/08/17/Screen%20Shot%202016-08-17%20at%209.57.58%20am.png" target="_blank"><img src="/images/2016/08/17/Screen%20Shot%202016-08-17%20at%209.57.58%20am.png" alt="" width="572" height="192"></a> 
FY 16 Results
 Statutory profit of $889 million, down 1.6 percent on FY15
 Funds from operations (FFO) of $740 million, up 12.5 percent1
 FFO per security of 31.1 cents, up 11.1 percent
 Underlying profit of $660 million, up 8.5 percent
 Underlying earnings per security (EPS) of 27.8 cents, up 7.3 percent
 Profit growth in all core businesses, with Residential operating profit up 38.8 percent
 Return on equity (ROE) of 11.0percent, up 1.1 percent
Net tangible assets (NTA) per security of $3.82, up 3.8 percent. Distribution per security (DPS) of 24.5 cents, up 0.5 cents 
FY17 targets
Targeting growth in FFO per security of 5.0 – 7.0 percent, assuming no material change in market conditions
From FY17, our distribution policy will be based on FFO and will reflect a payout ratio of 75 – 85 percent. We are targeting an estimated distribution per security of 25.5 cents, a 4.1 percent increase on FY16, assuming no material change in market conditions 
 
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Stockland perform strongly in FY16 with 10% rise in revenues

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Stockland chairman Graham Bradley has announced that Stephen Newton will join the Stockland board.
Mr Newton has deep experience across real estate development, property management and infrastructure investment gained during almost 23 years with Lend Lease Corporation and more than 13 years as a principal of investment management and capital advisory business, Arcadia Funds Management.
He is currently a director of listed Gateway Lifestyle Group and a non-executive director of Campus Living Funds Management Limited.
Mr Newton was a director of Australand Property Group from 2007-2014.
He is an advisory board member, representing Alberta Investment Management Corp (Canada), of the Forestry Investment Trust, a director of both BAI Communications Group and the University of Notre Dame Australia, and chairman of the Finance Council for the Catholic Archdiocese of Sydney.
As required by the Stockland constitution, Mr Newton will offer himself for election by securityholders at the 2016 annual general meeting to be held in October.
Mr Bradley also announced that, following more than 10 years of service on the Stockland board, Peter Scott will retire from his position in August 2016. 
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Stephen Newton joins Stockland board

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Stockland Cairns – a nearly 50,000 square metre shopping centre in Cairns — is up for sale through an International Expressions of Interest (EOI) campaign closing March 31.
The sale is expected to fetch more than $230 million for the Stockland Group, which has appointed JLL’s Simon Rooney for the campaign.
Stockland Cairns, spread over 49,532 sqm, is a triple DDS anchored sub-regional shopping centre comprising a Big W, Target, Harris Scarfe, Coles, Woolworths, BCC six screen cinema complex, in addition to 10 mini majors, 110 specialty tenancies and kiosks.
“Investors continue to see long-term value in the Queensland retail market. Investment into retail assets in Queensland continues to strengthen from year to year. Total transaction activity has risen from $1.4 billion in 2013, to $1.7 billion in 2014 and to a record-high of $2.3 billion in 2015,” said Rooney.
“There have been very few opportunities historically to acquire a 100% interest in a major, high quality retail asset over $200 million in Queensland. We have recorded just three transactions above this threshold in the last 10-years. One of those transactions occurred directly off-market and one was part of a national portfolio.”
He said several institutional retail landlords bought assets in Queensland last year to increase exposure to the state. Blackstone acquired Westfield Strathpine as part of a wider portfolio transaction for $655.5 million, QIC bought Domain Central Homemaker Centre (nearly $130 million) and Hinkler Central ($110 million) and LaSalle Investment Management acquired three retail assets totalling $171 million.
“We expect Stockland Cairns will be highly sought after given the high level of demand for major retail assets in Queensland and the shortage of opportunities to acquire major assets,” said Rooney.
“The resurgence in inbound tourism, which follows the depreciation in the AUD, is supporting the local economies of major tourist regions such as Far North Queensland. Overseas visitor arrivals have increased by over 7% year-on-year, nationally, which supports a positive outlook for retail trading conditions.”
Stockland Cairns benefits from its location at the gateway to the southern growth corridor of the Cairns region, with 247,030 residents within the total trade area, including 168,810 residents in the main trade area.
Several major tenants including Target and Woolworths have renewed their leases to July 2022 and June 2036, respectively, as well as a brand new lease to Harris Scarfe to May 2026.
<a href="/expert-insights/investing/stockland-reports-8-1-percent-increase-in-first-half-underlying-profit">Stockland</a>, Australia's largest diversified real estate investment trust, reported on Wednesday an 8.1 percent rise in first-half underlying profit to $313 million.
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prateek24-ezbwHMbNAk

Stockland Cairns comes to market with a price tag of $230 million plus

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Stockland, the nation's largest diversified real estate investment trust, today reported an 8.1 per cent increase in first-half underlying profit to $313 million.
After the group settled 2,770 lots in the six months ended December 31, its chief executive, Mark Steinert said that favourable conditions in Sydney and Melbouurne saw the company ending its first half with a record number of contracts in hand.
"We've activated a high proportion of our residential land bank and we have sufficient depth to our projects in high demand corridors to underpin future organic growth," he said.
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Stockland delivered a 45 per cent increase in operating profit in its residential division.
Its material improvement in profitability was driven by new projects and market conditions.
With record contracts on hand, full year settlements are expected to be slightly above its through the cycle range of 5,000- 6,000 lots.
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The company said it adopted a disciplined restocking focussed on key urban markets - Craigieburn and Mickleham, Melbourne, consolidation ~1,000 lots; Rowville, Melbourne, stand alone medium density, 180 dwellings; Waterway Downs, Gold Coast, ~750 dwellings
Its sell outs included at Arve (Ivanhoe, Melbourne) with 150 townhomes under construction.
Stockland signaled it was bringing to market four additional projects in priority metropolitan corridors in 2H16: Schofields (Sydney); Macarthur Gardens (Sydney); Newport (Brisbane) and Pallara (Brisbane).
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