A new chapter in Sydney’s urban renewal story begins today as NSW Premier Chris Minns officially turns the sod for Dawn, the fifth stage of Sekisui House Australia’s $5 billion <a href="https://www.apartments.com.au/developments/melrose-park-nsw-2114">Melrose Park</a> masterplanned community.

Developed in partnership with Hankyu Hanshin Properties and built by <a href="https://www.apartments.com.au/builders/decode">Decode</a>, <a href="https://www.apartments.com.au/new-apartments/dawn-melrose-park-bundil-boulevard-melrose-park-nsw-2114">Dawn</a> will deliver 368 parkside residences, forming part of one of NSW’s largest privately owned urban renewal projects.&nbsp;

The milestone marks the start of the next phase in transforming Melrose Park into a new community delivering over 5,500 homes, a mixed-use town centre, 50,000 sqm of open green spaces and several future schools.

[smartcode_project:default project_id=145496 project_image_fid=352993]

Kazunori Ito, Group CEO and Managing Director at <a href="https://www.apartments.com.au/developers/sekisui-house-australia">Sekisui House Australia</a>, said the milestone symbolises the company’s ongoing commitment to job creation, housing supply and sustainable community building.

“This moment represents more than just the start of construction," Ito said.

"It is about building a new urban heart for Sydney’s geographic centre. Dawn and the wider Melrose Park masterplan will generate thousands of jobs, deliver quality homes for families and help more people realise the dream of home ownership.

“We are proud to be supporting the NSW government’s housing targets and expanded Home Guarantee Scheme, which came into effect on 1 October. The program is already opening doors for more first home buyers at Melrose Park, many of whom are using the scheme to purchase with a five per cent deposit and no Lenders’ Mortgage Insurance.”

[smartcode_project:default project_id=145496 project_image_fid=334163]

Since its introduction, the enhanced federal government’s Home Guarantee Scheme has given first home buyers greater access to the property market. With value thresholds in New South Wales now lifted to $1.5 million, buyers can secure a new apartment in Melrose Park sooner, reducing the burden of saving a 20 per cent deposit and removing costly mortgage insurance premiums.&nbsp;

The Dawn precinct, designed by <a href="https://www.apartments.com.au/architects/group-gsa">Group GSA</a> embodies Sekisui House’s global “Love of Humanity” philosophy, integrating sustainability, technology and liveability into every design detail. Residents will enjoy abundant green space, energy efficient features and a direct connection to the future Parramatta Light Rail Stage 2 and Melrose Park Town Centre set to open in 2026.

[smartcode_project:default project_id=145496 project_image_fid=354734]

As part of the NSW government’s long-term commitment to the local community, work recently commenced on the new Melrose Park High School, a state-of-the-art education facility designed to accommodate more than 1,000 students. The school will be within walking distance to Dawn and will become a cornerstone of the precinct’s family friendly environment.

Melrose Park’s smart community vision includes EV charging stations, environmental monitoring systems with Western Sydney University and NBN node to residence connectivity. With over $216 million in planning contributions committed to local and state infrastructure, this project supports NSW’s 30-minute city goal, ensuring residents can live, work and play within easy reach of key employment and lifestyle hubs.

[smartcode_project:default project_id=145496 project_image_fid=334049]

Dawn’s contemporary residences all have secure basement parking and start at $649,000 for a one-bedroom apartment and $1.259 million for three-bedrooms.&nbsp;

The project will also overlook Central Park which spans nearly two hectares and features barbeque and picnic areas, children’s play zones and walking tracks ideal for active residents and pets.

Residents will enjoy exclusive rooftop community facilities including private rooftop gardens, beautifully landscaped podium parks and internal courtyard gardens.

Construction of Dawn, which is being led by regarded builder Decode, will be completed by Q1 2028, adding to Sekisui House’s pipeline of more than 9,000 homes and apartments under development across Australia.

[smartcode_project_cta:default project_id=145496]

Staff Writer

Premier Chris Minns turns sod at Dawn Melrose Park as construction commences

Southport is set for one of its tallest new apartment developments in recent years with the approval of Malua, a 32-level tower just one row back from Broadwater.

The <a href="https://www.apartments.com.au/new-apartments/malua-18-22-norman-street-southport-qld-4215">Norman St tower</a> will comprise 151 apartments within the Southport Priority Development Area. The three adjoining lots, totalling 1,215 sqm, are currently occupied by three two-storey buildings, one a house, and two duplexes.

The majority of the apartments will be two-bedders (126), with just five one-bedroom apartments and 20 three-bedrooms. There will be three basement levels, three podium levels, and a rooftop communal space with a pool, gym, private dining areas and business hub facilities.

<img alt="Malua" data-entity-type="file" data-entity-uuid="21ab3437-de39-432c-b991-f33227b606dd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-11-06%20at%208.41.37%E2%80%AFAM.png?VersionId=_dOcjcvmSMyn6utzzviBVCAgDp5ZCo_N" />

There had been prior approval for a 14-storey building, however those plans became financially unviable.

“The proposed development seeks to resolve financial viability issues of the existing development approval by providing a higher density development with a more favourable unit mix and streamlined design,” the planning report submitted to the Gold Coast City Council noted.

Plus Studio designed the tower which "aims to contribute positively to the evolving Southport skyline, with vertical relief elements, sculpted facades, and rooftop crowning features."

“When stepping into the lobby from Norman Street, pedestrians and residents pass through a sculpted podium of lush green foliage in an earthy entry experience,” Plus wrote in its design report, emphasising the landscape-led approach to the podium and ground plane.

<img alt="Malua" data-entity-type="file" data-entity-uuid="694202c2-be8f-4cde-be26-a494293058a6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-11-06%20at%208.42.15%E2%80%AFAM.png?VersionId=NOIFuolMkoE8vNerov63rnbFRk_TnYUy" />

There is renewed confidence in the development market in Southport. Buyers have jumped at the chance to buy at <a href="https://www.apartments.com.au/new-apartments/maris-southport-20-queen-street-southport-qld-4215">Maris</a>, the latest local Gold Coast development by MRCB. Over 75 per cent of the 192 apartments have been snapped up prior to launching to the market.&nbsp;

The last notable launch in the suburb was in late 2023 when <a href="https://www.apartments.com.au/new-apartments/eden-garden-residences-20-bauer-street-southport">Eden Garden Residences</a> hit the market. The 54 apartments, on the corner of Bauer Street and Chester Terrace, are under construction and due to complete in mid-2026.

Joel Robinson

First look: Southport tower Malua to rise 32 levels in latest Gold Coast approval

Woolworths Group’s development arm, <a href="https://www.apartments.com.au/developers/fabcot">Fabcot</a>, has unveiled its latest mixed-use development.

They are seeking to reshape a prominent site in Gladesville, on the northern edge of the town centre. They've filed a&nbsp;State Significant Development Application for the amalgamated 5,623 sqm block with street frontages to Victoria Road and Eltham Street that will see <a href="https://www.apartments.com.au/new-apartments/363-victoria-road-gladesville-nsw-2111">two buildings with 171 apartments</a> sit above an activated retail ground plane.

The tallest tower, at 13 storeys, will face Victoria Road and home 115 dwellings. A smaller nine-sytorey tower, stepping down to Eltham Street, will have the remaining 56 apartments.

The towers will rise above a podium containing a full-line 3,800 sqm Woolworths supermarket and cafe, activating along the Westminster and Eltham Street frontages.

<img alt="Fabcot" data-entity-type="file" data-entity-uuid="da042a40-288e-41b8-becc-080f235a3717" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-11-06%20at%208.13.26%E2%80%AFAM.png?VersionId=n99ay71Clcy6WLP4Uajw2ph6BA61wboV" />

The residential offering will include 19 one-bedroom, 118 two-bedroom, and 34 three-bedroom apartments. Residents will have access to rooftop communal terraces on both buildings, as well as a podium-level garden, contributing a total of 1,411 sqm of communal open space.

According to the Urban Design Report by <a href="https://www.apartments.com.au/architects/clarke-hopkins-clarke">ClarkeHopkinsClarke</a>, “The massing places height and density along Victoria Road, reinforcing its role as the commercial spine, while stepping down towards neighbouring areas to ensure appropriate scale transitions.”&nbsp;

The design draws inspiration from the local geology and waterways, with curving tower forms and a warm, tactile material palette referencing Hawkesbury sandstone and nearby riverine landscapes.

The proposal also includes basement parking across three to four levels, accommodating 392 car spaces - 190 for retail and 202 for residents.

<img alt="Fabcot" data-entity-type="file" data-entity-uuid="f1a01073-9a13-4ba7-9c14-43c84a751e26" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-11-06%20at%208.13.51%E2%80%AFAM.png?VersionId=KSImA_iSQiIgSRMswm7.5Sg.WRZ0fZjg" />

Fabcot is aiming to deliver a “landmark building with civic presence,” leveraging the prominent corner site to anchor the precinct’s urban renewal.

“The building’s corner location and carefully sculpted form establish it as a landmark for North Gladesville,” the Urban Design Report notes.

ClarkeHopkinsClarke has previously collaborated on other Woolworths mixed-use projects, and here again deploys stepped setbacks, articulation, and extensive landscaping to manage bulk and enhance street-level engagement. A colonnaded brick base provides texture and rhythm to the podium, while upper levels curve softly to maximise views and cross-ventilation.

The development sits within the North Gladesville Precinct, an area earmarked for transformation under Ryde’s local planning strategy. It is well-served by bus connections along Victoria Road and within proximity to community infrastructure, schools, and riverside parkland.

Gladesville is set for a full transformation with developer Third.i also planning a major mixed-use development in the area. They are seeking to redevelop the Gladesville Village Shopping Centre into an&nbsp;integrated precinct with more than 500 apartments, a new supermarket, and significant public domain upgrades.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-third-i-plots-500-unit-redevelopment-of-gladesville-village-shopping-centre">First look: Third.i plots 500-unit redevelopment of Gladesville Village Shopping Centre</a>

Fabcot reveals mixed-use plans for Gladesville town centre

<a href="https://www.apartments.com.au/developers/omaya">Omaya</a> has brought to market a boutique collection of completed, two-storey terraces on Telopea Avenue in <a href="https://www.apartments.com.au/developments/homebush-west-nsw-2140">Homebush West</a>, offering buyers the opportunity to move straight into brand-new homes in a connected inner-west location.

<a href="https://www.apartments.com.au/buildings/telopea-avenue-homebush-west-24-36-telopea-avenue-homebush-west-nsw-2140">Telopea Avenue</a> comprises four-bedroom terraces with internal basement parking, designed to balance functionality with contemporary interiors.

[smartcode_project:default project_id=150682 project_image_fid=6085]

Each residence is arranged across two levels, with layouts tailored to families seeking more space or downsizers wanting low-maintenance living without compromise. Skylights and large windows maximise natural light throughout the interiors, while private terraces and balconies extend living outdoors.

Inside, hybrid timber flooring flows through living and bedroom spaces, complemented by built-in wardrobes with polyurethane finishes and melamine shelving.&nbsp;

Kitchens feature Bianco Imperial Granite benchtops and splashbacks, paired with Smeg appliances including a five-burner gas cooktop, oven, rangehood, and integrated dishwasher.&nbsp;

Bathrooms continue the refined detailing with porcelain tiling, granite accents, gun metal tapware, and integrated LED lighting.

[smartcode_project:default project_id=150682 project_image_fid=6072]

Landscaped surrounds create a sense of greenery within the community, while individual home designs ensure each terrace retains its own character.

Positioned within a quiet residential pocket, the project sits only minutes from the activity centres of Strathfield, North Strathfield, Homebush, and Lidcombe, as well as the broader lifestyle and employment precinct of Sydney Olympic Park.

Residents also benefit from the project’s proximity to transport and amenity. Homebush and Flemington stations provide direct rail access to the Sydney CBD, with major road connections including Parramatta Road and the M4 close by.&nbsp;

[smartcode_project:default project_id=150682 project_image_fid=6064]

Local shops, Sydney Markets, and Strathfield Plaza cater to daily needs, while the area is well-serviced by schools, childcare centres, and universities.&nbsp;

Nearby Sydney Olympic Park and Bicentennial Park add further lifestyle appeal, offering walking trails, sports facilities, and year-round cultural events.

The terraces are delivered by Omaya, a family-run Sydney developer and builder with more than 35 years of experience and over 1,000 dwellings in its pipeline.

[smartcode_project_cta:default project_id=150682]

Omaya delivers complete and move-in ready terraces on Telopea Avenue, Homebush West

Melbourne-based developer&nbsp;<a href="https://www.apartments.com.au/developers/las-group">LAS Group</a> has this month received planning approval for two adjoining sites, 101 Clarendon Street and 38 Clarke Street in Southbank, that will add around $700 million to the developer’s pipeline on completion.

The two sites were purchased from Crown in 2023 and occupy the same city block as the iconic Casino complex, acquired in an on-market transaction, consisting of multiple titles that were being used as warehouses and low-rise office space.

The resulting permits will see the delivery of two towers consisting of 52 and 25 levels, both to be designed by Fender Katsalidis.

LAS Group’s successful planning approvals are among only a select few new development sites in Southbank to receive a permit in the last three years, as appropriate sites become even more scarce in the popular city-side location.

The projects will enjoy immediate walking access to Crown Casino, South Wharf, the Aquarium, Southbank and the wider Yarra River walk precinct that features a plethora of restaurants, bars and other hospitality and entertainment offerings.

The Fender Katsalidis-designed towers will feature intricate brick masonry and arched windows at street level that will add character to the Southbank streetscape, with sleek towers rising above each podium.

The larger of the two towers, <a href="https://www.apartments.com.au/new-apartments/101-clarendon-street-southbank-vic-3006">101 Clarendon Street</a>, will have 509 apartments across a 52-level building that wuill also include a resident&nbsp;lounge, private dining room, podcast room, golf simulator, co-working spaces, pet care facilities, and an outdoor terrace.

That is expected to complete in 2029.

<img alt="Clarendon" data-entity-type="file" data-entity-uuid="9d8595a7-d225-4532-86a9-d3c5ca7407d4" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-11-05%20at%208.28.51%E2%80%AFAM.png?VersionId=quwbfnhk5Vf6yR1Qj0GQtt0EjeIsKMci" /> 
The podium at 101 Clarendon Street. Image supplied

The smaller tower at <a href="https://www.apartments.com.au/new-apartments/36-42-clarke-street-southbank-vic-3006">38 Clarke Street</a> will be around half the size at 25 levels and home 188 apartments, a pool, gym, cold plunge, and sauna. That is expected to complete in 2028.

&nbsp;

LAS Group has a long history of developing key sites across Australia, including The Fawkner on St Kilda Road and Guild Apartments in Southbank, as well as holding significant interests in retail, mixed-use and storage facilities across Australia.

<img alt="38 Clarke" data-entity-type="file" data-entity-uuid="d871b034-d2a4-490f-b9eb-b9d4b99a04c5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-11-05%20at%208.28.44%E2%80%AFAM.png?VersionId=J3fWfemsLPQzXekl_h0QlsXoWFnRbfRF" /> 
38 Clarke Street, Southbank. Image supplied

LAS Group director and founder Les Smith said the planning approvals had come at a time when confidence was returning to the market and the need to deliver quality apartment stock in Melbourne’s inner suburbs was becoming critical to help ease the housing and affordability crisis.

“These planning approvals are the outcome of a collaborative process with multiple stakeholders and we are grateful for the involvement and support of Melbourne Water, the Department of Transport and Planning, Melbourne City Council and Property Council of Australia along the way," Smith said.

“We have a huge affinity for Melbourne believe the macro and micro economic factors that underpin long-term growth mean it is currently undervalued compared to other capital cities around Australia.

“Confidence is starting to return given the recent interest rate drops and the buoyancy in the economic climate, so we believe the time is right to bring these two new projects to market in the coming months."

LAS Group General Manager, Mia Smith said the design intent was to bring a sense of place to Southbank from the ground level and contribute positively to the thriving entertainment precinct, while delivering good quality, affordable stock to the market.

“These projects will deliver product that is affordable and accessible, while delivering a beautiful building with luxury appointments, in a wonderful location that’s next door to Crown Casino and the Southbank entertainment precinct, and on the doorstep to the CBD," Smith said.

“We are incredibly pleased with the designs that Fender Katsalidis have proposed and we are excited to make a positive impact to the urban design of this important pocket of Southbank with these exceptional design outcomes.”

LAS Group to build 700 apartments across two towers on Crown Casino’s former Southbank sites

Vicinity Centres

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Today Apartments.com.au speaks to Erwin Taal, Senior Associate at ASPECT Studios about the office's work on Golden Age Group's Sky Garden development above The Glen Shopping Centre. Taal says the project provided a very challenging brief for a broad scale landscape that is not evident at first glance.

<blockquote>
A creative solution was required to provide the immersive landscape experience desired within the structural constraints of building over a retail precinct. 

This was achieved through the terracing of the landscape through using several lightweight shallow landscape trays creates an implied depth to the landscape that would otherwise not be possible. 

This depth is enhanced through the careful arrangement of plant heights to enhance this effect.
</blockquote>

<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/water_feature.jpg" rel="gallery-all" title="A water feature draws on the Chinese philosophy of the five essential elements. Image: Supplied"><img alt="" class="image-article-full-width-580px" height="290" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/water_feature.jpg?itok=FiytHw7N" title="A water feature draws on the Chinese philosophy of the five essential elements. Image: Supplied" width="580"></a>

<figcaption>A water feature draws on the Chinese philosophy of the five essential elements. Image: Supplied</figcaption></figure>Apartments.com.au: What was the brief from Golden Age for the landscaped spaces within Sky Garden? 

Erwin Taal: Golden Age and Time &amp; Place had a vision and dedication to provide a generous, shared residential green podium that would provide a range of outdoor spaces, appropriate for the varying needs of residents, including:

<ul>
<li>implementing a range of age-appropriate spaces,</li>
	<li>spaces with varying intimacy and openness,</li>
	<li>providing a mix of shelter and exposure,</li>
	<li>passive enjoyment through to active recreation.</li>
</ul>
The brief also called for the establishment of a green landscape with a range of planting approaches that would create an engaging immersive environment for the residents, within the limitations of the building structure. This desire for immersion within the landscape was amplified through the refined “Sky Garden” approach that was requested by Golden Age.

U: Did the design concepts of the five elements inform a set of guidelines which assisted in the collaboration between ASPECT, Rothelowman and DKO Architecture? 

ET: ASPECT Studios are one of the forerunners with extensive experience and knowledge of green roof design. We worked closely with Rothelowman &amp; DKO to ensure a seamless interface between the landscape and architecture. From the outset, we proposed that the residential podium take on a sympathetic design approach towards the concept for The Square and Level 1 Retail to ensure a considered and consistent design concept between all facets. This was in keeping with the geometries pursued within the Rothelowman design of the residential towers. Our concept successfully reflected the seamless integration between internal and external as well as the architectural exploration of the five elements to effectively create one consolidated residential offer.

U: What influence did the architecture of the three apartment buildings have on the design of the landscaped spaces? 

ET: We considered the broader site arrangement and massing of the three residential buildings and retail forms in our conception of the external landscape. The elongated forms that were rounded off (referenced to as the “Aalto curve”) were used as a driver to articulate the arrangement of a series of outdoor landscape rooms within the linear external landscape that wrapped along the base of the three towers. Further detail within these outdoor rooms was drawn from the manipulation of the residential tower forms including:

<ul>
<li>Faceting (as a way of rounding off corners using a controlled radius)</li>
	<li>Pinching (the drawing in of elements of the façade to provide variation in form and rhythm)</li>
	<li>The terrace (as a way of progressively stepping down building heights)</li>
</ul>
The linear landscaped forms were subsequently modified to become more curvilinear and less linear in nature, again as a reference to a more intimate Sky Garden approach, whilst retaining the overall arrangement of the outdoor rooms.

U: What were some of the challenges for designing multi-generational spaces without over cluttering the spaces or diluting the design intent? 

ET: The linear arrangement of outdoor rooms along the base of the towers and multiple points of entry surprisingly assisted in dispersing various programmed spaces along the podium. We divided the programming of the outdoor rooms into active through to passive use, and formal through to informal settings to determine the range of activities to occur within each room. Some of the outdoor rooms naturally lent themselves to a younger or older generational focus, but we felt it important that the interaction between all users was a desirable element, much as a typical urban environment. By off-setting the connective circulation from the activity of the spaces, a higher intensity of activation was therefore possible without disrupting access to other outdoor rooms within the arrangement.

<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/sky_garden_spaces.jpg" rel="gallery-all" title="A variety of formal, informal, active and passive spaces have been designed as part of the landscape strategy. Image: Supplied"><img alt="" class="image-article-full-width-580px" height="340" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/sky_garden_spaces.jpg?itok=yBVmYbsW" title="A variety of formal, informal, active and passive spaces have been designed as part of the landscape strategy. Image: Supplied" width="580"></a>

<figcaption>A variety of formal, informal, active and passive spaces have been designed as part of the landscape strategy. Image: Supplied</figcaption></figure>U: Sky Garden sits above the Glen Shopping Centre which is undergoing a staged redevelopment adding green spaces within the centre environment. How do you see the roles of shopping centres changing in the future and bringing more of nature in? 

ET: As our multi-residential and ‘mixed-use’ residential markets continue to grow, developers are taking further influence from our overseas counterparts in introducing shopping centre residential typologies which offers the fusion of lifestyle, residence and nature. As expressed within The Glen redevelopment encompasses:

<ul>
<li>Our inhabitation within an increasingly dense urban environment,</li>
	<li>the blurring of the traditional separation between home and lifestyle, and</li>
	<li>the desire for more meaningful connection to nature within our lifestyled environments.</li>
</ul>
Shopping Centres are rapidly evolving to capture, and even drive, this fusion through diversifying their offer beyond that of traditional retail. Incorporating nature through the creation of extensive internal and external landscaped environments provides breathing spaces within these intensified environments and actively encourages prolonged occupation. Whilst not a re-creation of real nature, the use of green roofs and podiums are a controlled representation of it which has been tailored to suit our changing social and urban fabric and can offer many of the environmental, microclimatic and biological benefits.
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Laurence Dragomir

ASPECT Studios' Erwin Taal discusses Sky Garden's landscape design

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Vicinity Centres has announced a progress update asset divestment program, with the sale of a portfolio of 10 sub regional and neighbourhood shopping centres to SCA Property Group.
They also sold one Neighbourhood shopping centre to a private investor, for an aggregate sale price of $631.0 million.
The aggregate sale price of $631.0 million reflects a 5.1% discount to the combined 30 June 2018 book values of the eleven assets and a weighted average capitalisation rate of 6.9%.
Vicinity has now divested 35 shopping centres for more than $2.5 billion at a 0.5% premium to book value.
Discussions are noted to be underway with prospective purchasers of three remaining assets included in Vicinity’s divestment program.
Mr Grant Kelley, Vicinity’s CEO and Managing Director, said “These transactions are a significant achievement and advance our strategy to unlock major potential in the business.”
“It is an important step in delivering strong and sustainable growth through focusing our directly-owned portfolio on approximately fifty market-leading destination assets, expanding our wholesale funds platform and realising mixed-use opportunities across the portfolio.”
SCP will acquire ten assets for a total consideration of $573.0 million. Settlement of these transactions is expected later this month.
<img src="https://www.urban.com.au/images/2018/10/3/Vicinity%20centres.JPG" alt="">
The sale of Belmont Village (pictured above) in Victoria to a private investor for $58.0 million was settled at the end of September .
As at 30 June 2018, the eleven assets sold had specialty sales per square metre averaging $7,611. 
Vicinity’s FFO guidance for FY19 remains unchanged at 18.0 to 18.2 cents per security.
Assuming the sale proceeds of the eleven non-core assets are used to repay debt in the short-term, gearing would be reduced by approximately 280 basis points.
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j.ballantyne1990-6AQqhLzZaK

Vicinity sells eleven shopping centres for $631 million

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Vicinity Centres have sold Gympie's Goldfields Plaza for $27.5 million.
The move comes after Vicinity Centres announced it was to sell $1 billion worth of shopping centres to refurbish their higher assets. 
It's been bought by Lascorp Development Group, who have outlined plans for a major overhaul of the neighbourhood centre.
The sale reflected a 1.1 percent premium to Book Value, in a transaction brokered by Savills agents Peter and Jon Tyson.
Goldfields Plaza comprises an enclosed neighbourhood shopping mall anchored by a Coles supermarket and Target department store.
Peter Tyson, Savills’ national retail director, said that the neighbourhood shopping centre asset class remains very popular with investors.
“The sale campaign for Goldfields Plaza attracted strong buyer interest, with multiple offers from investors as well as developers given the asset’s value-add profile. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/6/20/GOLD2.jpg" alt="">
“Goldfields Plaza features the only Coles and Target offerings in an expansive trade area with the nearest alternatives located at Noosa to the south and Maryborough to the north,” he said.
Run by veteran Melbourne retail developers Michael and Matt Lasky, Lascorp has over 40 years history developing and refurbishing shopping centres on Australia’s eastern seaboard.
Michael Lasky said that they were attracted to the Centre due to it having the right fundamentals.
“We like Goldfields Plaza. It is centrally situated next to the town’s centre, has great parking and is underpinned by a very strongly trading Coles supermarket.
“We feel we can apply our expertise and add value to the centre through repositioning the mall and specialties” he said.
Matt Lasky said that the Centre has great bones, and will benefit from our planned refurbishment as it hasn’t had an upgrade in many years.
“Our plans include refreshing the façade, extensive upgrades to the mall areas and amenities and implementing a releasing program,” he said.
Savills’ Peter Capps has been appointed to lease the repositioned centre on behalf of Lascorp.
Capps said that the refurbishment program will completely refresh the look and feel of the mall with improved traffic flow and opening of the sightlines between Coles and Target.
“We will be targeting key food and service lines, rather than discretionary spending. It is easy to see that following the refurbishment, Goldfields Plaza will be the most convenient food and service offer in the local market,” he said. 
Lascorp’s purchase of the Gympie mall follows the groups’ sale of the refurbished Morningside Plaza Shopping Centre in Brisbane earlier this year for $23.8 million through an off market transaction also brokered by Savills’ Peter Tyson.
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jrobinson-rf4aSBido9

Vicinity Centres sells Gympie's Goldfields Plaza

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Vicinity Centres and <a href="/developers/gandel-group">Gandel Group</a>, owners of Chadstone Shopping Centre, have appointed <a href="/builders/hickory">Hickory</a> as head contractor for the hotel development which will join the 10-storey office tower completed as part of the last round of construction works.

Located at <a href="/developments/chadstone-vic-3148">1341 Dandenong Road</a>, the hotel forms a key anchor of the Chadstone master plan with AccorHotels managing the 250-room hotel under its MGallery by Sofitel brand, adding a further dimension to the shopping, dining and entertainment centre.

The hotel is being built to capitalise on the 23 million visitors that visit Chadstone each year, including an estimated 350,000 international tourists.

Designed by <a href="/architects/bates-smart">Bates Smart</a>, the 12-storey hotel will become the first to target a 5 -tar Green Star rating using the new generation Green Star – Design/As Built v1.1 rating tool.

The hotel will also feature health and wellness facilities, including a day spa, gymnasium and rooftop infinity swimming pool, plus two restaurants, lounge bar, and a ballroom capable of hosting functions for up to 400 people.

Demand for the hotel will be driven by business travellers, tourists and visitors to both Chadstone and the commercial offices of the 17 international and national businesses located on-site, as well as the nearby Monash precinct employment hub which employs 75,000 people.

<iframe allow="autoplay; encrypted-media" allowfullscreen="" frameborder="0" height="315" src="https://www.youtube.com/embed/1xWAKxStfO0" width="560"></iframe>

As part of the build, Hickory is targeting a compressed construction timeline, which will be achieved via the implementation of Hickory's patented building technology HBS. Hickory will incorporate large prefabricated elements such as stairs and walls within the build.

Additionally Hickory are employing a dust management plan to control, monitor and identify all dust-generating activities during all stages of the construction to aid in minimising disruption to customers or impacting the surrounding Chadstone community.

Construction and management of the hotel will create more than 1,300 new jobs, including 1,250 jobs in construction and 120 ongoing roles in the operation of the hotel, boosting employment in the Monash area.

Heavy noise excavation works have already been completed on the site with the main hotel construction to begin next week. Hickory is targeting a 14 month construction schedule with the hotel due to open in the second half of 2019. 

Further works underway or about to commence at Chadstone Shopping Centre include:

<ul>
<li>The revamp of the East Mall which will see a new Victoria’s Secret flagship store opening in late 2018. </li>
	<li>The expansion of the Coles Car Park which will see the reconfiguration of two access points to ease traffic congestion, as well as a new pedestrian walkway.</li>
	<li>A new look Food Atrium which is currently being renovated on the Lower Ground.</li>
	<li>A new Visitor Lounge for visitors to enjoy which will provide spaces for VIP events, champagne on arrival for special groups and roving multilingual team members to answer questions.</li>
</ul>
<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/east_mall.png" rel="gallery-all" title="A snapshot of some of the upcoming or underway developments at Chadstone. Images: https://www.chadstone.com.au/development"><img alt="" class="image-article-full-width-580px" height="201" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/east_mall.png?itok=aY-N65JQ" title="A snapshot of some of the upcoming or underway developments at Chadstone. Images: https://www.chadstone.com.au/development" width="580"></a>

<figcaption>A snapshot of some of the upcoming or underway developments at Chadstone. Images: https://www.chadstone.com.au/development</figcaption></figure>Both Federal and State Government's are also investing in stronger public transport links to the centre with options for both light and heavy rail being floated in respective budget announcements.
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Hickory appointed to build Chadstone's MGallery by Sofitel hotel 

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Golden Age Group has recently launched the website for its Sky Garden Residences, to be developed above airspace as part of The Glen redevelopment project. City of Monash initially approved plans for the $500 million redevelopment of The Glen shopping centre in Glen Waverley in 2015.

Key features of The Glen redevelopment include:

<ul>
<li>an expansion of the retail centre across the existing car park in Springvale Road, Glen Waverley</li>
	<li>three apartment towers above the retail podium, with the highest being 20-storeys</li>
	<li>a new public square at the entrance to the shopping centre, with cafes and restaurants creating a cosmopolitan connection between Kingsway and The Glen.</li>
</ul>
In November 2016, Council approved an amended permit for the residential towers at 235 Springvale Rd, Glen Waverley which was once again amended and approved in January 2018. 

Key aspects of the proposed amendments relate to modification of the overall massing, layout and mix of residential apartments of Building A, (Signature Building), B (Urban Building) and Building C (Kingsway Axial Building). 

Each building will increase in overall height by 1m and will adopt a new facade treatment to what was originally approved.

The revised plans prepared by RotheLowman include an additional 89 car spaces and the provision of 555 apartments across the three towers comprising of: 

<ul>
<li>127 x 1 bedroom apartments; </li>
	<li>371 x 2 bedroom apartments; and </li>
	<li>57 x 3 bedroom apartments. </li>
</ul>
<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/the_glen_skygardens.jpg" rel="gallery-all" title="Sky Gardens as the name suggests has 4,000 sqm of communal open space. Image : skygardenresidences.com.au"><img alt="" class="image-article-full-width-580px" height="221" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/the_glen_skygardens.jpg?itok=bGaRtxSZ" title="Sky Gardens as the name suggests has 4,000 sqm of communal open space. Image : skygardenresidences.com.au" width="580"></a>

<figcaption>Sky Gardens as the name suggests has 4,000 sqm of communal open space. Image : skygardenresidences.com.au</figcaption></figure>A large part of the project's appeal according to Golden Age Group is the 4,000 sqm of open space across the three towers and the views on offer from within, which encompass the Dandenong Ranges and the Bay.

The new residences will also take advantage of their position within the newly revitalised shopping and entertainment precinct of The Glen Shopping Centre.

<ul></ul>
The first stage of the redevelopment of The Glen - the Fresh Food Market Hall - opened in September 2017 and is located on the lower ground level offering a wide choice and variety of fresh produce and specialty ingredients in one location.

The Fresh Food Market Hall features an ALDI, latest format Woolworths, Coles and 60 boutique food retailers and specialty stores.

Vicinity Centre's redevelopment of The Glen will occur across five stages spanning three years which will create a new 'town square' with dining over two levels, new mini-majors, a fresh food market hall and 240+ select stores on completion. The five stages of the redevelopment are summarised below.

<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/img_8048.jpg" rel="gallery-all" title="Probuild has advanced construction on The Glen "><img alt="" class="image-article-full-width-580px" height="377" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/img_8048.jpg?itok=o_dIE0Op" title="Probuild has advanced construction on The Glen " width="580"></a>

<figcaption>Probuild has advanced construction on The Glen</figcaption></figure>The Glen Stages :

<ul>
<li>Stage 1 - Now Open: Fresh Food Market Hall</li>
	<li>
	Stage 2 - Early 2018: New Food Gallery
	</li>
	<li>
	Stage 3 - Late 2018: Fashion &amp; Lifestyle
	</li>
	<li>
	Stage 4 - Late 2019: David Jones, Premium Fashion &amp; New Town Square
	</li>
	<li>
	Stage 5 - Early 2020: Mini Majors Precinct
	</li>
</ul>
<iframe allow="autoplay; encrypted-media" allowfullscreen="" frameborder="0" height="315" src="https://www.youtube.com/embed/l0Atr-Luux4" width="560"></iframe>
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Sky Garden residences launched as construction progresses on The Glen

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Shopping centre giant Vicinity Centres has begun the search for a new chief executive with Angus McNaughton to retire at the end of this year.
The surprise announcement comes just under two years since Mr McNaughton stepped back into the top role in controversial circumstances following the merger that formed formed Vicinity.
"Including my time with Novion and its predecessor, CFS Retail Property Trust Group, I have been involved with this business for nearly 10 years," Mr McNaughton said in a company statement on Thursday.
"It has been a privilege to be part of Vicinity's transformation and, together with the board and executive team, to establish Vicinity's strategic direction.
"Vicinity is in a strong position and I am very confident in the highly competent executive team that we have built and their ability to drive the future growth of our business."
In August 2015, Mr McNaughton replaced Steven Sewell, who led Federation Centres when it merged with the larger Novion.
​But Mr Sewell's management styled irked the new board, which moved to axe its chief executive just two months after the the 2015 merger was formalised.
Mr McNaughton, who had stepped aside when the merger took place, was recalled and has led the growth of the renamed Vicinity, now an $11 billion property trust, since then.
The New Zealander has bedded down the amalgamation that created the second largest listed landlord of Australia retail property.
Among the highlights of his renewed tenure, Mr McNaughton has overseen a $660 million expansion of Chadstone shopping centre, now Australia's largest mall.
The mall is co-owned by Financial Review Rich Lister John Gandel, who is also Vicinity's largest shareholder and will be influential in the selection of the its next chief executive.
Among the challenges for Vicinity's next leader will be the rapidly changing retail environment that is forcing landlords to rework their massive shopping centres to re-engage shoppers enticed by the ease of online retailers such as Amazon  
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Mall giant Vicinity's CEO to resign

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Two major projects within City of Monash will provide the municipality with a development boost over coming years.

Construction will begin this month on The Glen's $490 million development, with Vicinity Centres and co-owners Perron Group officially launching the project yesterday. Marking 50 years of operation, 'The New Glen' will encompass 78,000 square metres of gross lettable area and will include a variety of new retail and entertainment options.

As part of the development that will be completed by 2020, a new Town Square will also be built. Apartments.com.au highlighted the <a href="/news/the-glen-redevelopment-grows-further-with-more-apartments-approved">centre's revised plans</a> late last year, which also allowed for as many as 539 new apartments to be created onsite across 3 separate buildings - no word was given yesterday on their status.

<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/image9_12.jpg" rel="gallery-all" title="The Glen is in line for a major overhaul. Image: Vicinity Centres"><img alt="" class="image-article-full-width-580px" height="308" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image9_12.jpg?itok=E33fkQ9P" title="The Glen is in line for a major overhaul. Image: Vicinity Centres" width="580"></a>

<figcaption>The Glen is in line for a major overhaul. Image: Vicinity Centres</figcaption></figure><blockquote>
It is time that The Glen evolves to meet the changing needs of our customers. The New Glen will elevate the customer experience to create a boutique destination where food, fashion and people come together.

The centre’s architecture, featuring a dynamic ‘veil’ effect that unifies the entire project, is inspired by international trends, and the iconic Springvale Road façade is designed to engage the local community.
<cite>Angus McNaughton: CEO and Managing Director of Vicinity Centres</cite>
</blockquote>

<blockquote>
This development is all about delivering a boutique and well-crafted design, inspired by our discerning local community. While increasing in size, our objective is to ensure The New Glen remains intimate, accessible and convenient, with a casual sophistication. 
The new centre has been designed for easy access and navigation through a ‘race track’ configuration with several cross malls to improve sight lines.
<cite>Ross Robertson: Perron Group’s Chief Executive Officer</cite>
</blockquote>

The redevelopment will create an estimated 2,350 jobs, including 1,150 during construction and 1,200 permanent positions upon completion.

The New Glen will also act as a hub for the <a href="/news/could-glen-waverley-emerge-as-another-eastern-suburban-apartment-hub">hundreds of additional apartments</a> slated for Glen Waverley's Activity 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/image214_0_0.jpg" rel="gallery-all" title="Artist's impression of the new Town Square. Planning image: NH Architecture"><img alt="" class="image-article-full-width-580px" height="218" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image214_0_0.jpg?itok=U5ZpeqmV" title="Artist's impression of the new Town Square. Planning image: NH Architecture" width="580"></a>

<figcaption>Artist's impression of the new Town Square. Planning image: NH Architecture</figcaption></figure>In Oakleigh, diversified property group Pellicano is preparing to move ahead with an apartment development which it has christened Alke.

Valued at $53 million, Alke will include 95 apartments across two buildings divided by a communal residents’ terrace, along with retail at ground level. Designed by SJB Architects, Alke is a far grander expression than Pellicano's first residential project - twelve solid brick apartments in Oakleigh Street - which was completed in the suburb over 46 years ago.

Alke has been positioned to capture the local first home buyer and downsizer market.

<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/image10_9.jpg" rel="gallery-all" title="Alke will be Oakleigh's latest high density addition. Image: Pellican Group"><img alt="" class="image-article-full-width-580px" height="274" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image10_9.jpg?itok=M7uU6yjX" title="Alke will be Oakleigh's latest high density addition. Image: Pellican Group" width="580"></a>

<figcaption>Alke will be Oakleigh's latest high density addition. Image: Pellican Group</figcaption></figure><blockquote>
Pellicano focuses on three main drivers for every project - quality design, in-demand location, and quality residential and lifestyle amenity.

The site for Alke is located on Atherton Road within Oakleigh’s retail precinct, just two minutes from Eaton Mall. The suburb is significant for Pellicano. We are proud to be returning to an area with such a rich culture and established heritage.

We see this development catering to residents in all walks of life. First home buyers, young professional renters, and downsizers who want the convenience of apartment living while staying within their local community can take advantage of this opportunity.
<cite>Pellicano Managing Director, Nando Pellicano</cite>
</blockquote>

The building will join a growing list of apartment projects within Oakleigh, with construction set to commence in the second half of 2017.

<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/image11_13.jpg" rel="gallery-all" title="The very first of Pellicano's Melbourne projects. Image: Pellicano Group"><img alt="" class="image-article-full-width-580px" height="308" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image11_13.jpg?itok=FSMjn9KX" title="The very first of Pellicano's Melbourne projects. Image: Pellicano Group" width="580"></a>

<figcaption>The very first of Pellicano's Melbourne projects. Image: Pellicano Group</figcaption></figure>
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silvermb

Vicinity and Pellicano provide Monash with a development boost

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Vicinity Centres today reported a statutory net profit of $424.6 million for the six months ended 31 December 20151.
Underlying earnings were up 10.1% to $377.6 million with underlying earnings per security (EPS) up 9.3% to 9.5 cents, compared to the six months to 31 December 2014 on an aggregate basis.
"This reflects solid portfolio performance and the delivery of significant merger benefits," Angus McNaughton, CEO and managing director, said.
“We are pleased with the performance of the Group in the first six months post merger.
“Key operating metrics have improved across the board.
"Portfolio occupancy strengthened in the half by 30 basis points (bps) to 99.2%.
"We have seen comparable specialty store moving annual turnover (MAT) growth improve to 3.4% and specialty occupancy costs remain largely unchanged.
"Comparable net property income (NPI) growth6 of 3.7% is up from 2.5% at June 2015, supported by fixed rental increases, strong growth in ancillary income and flat expenses.
“The improvement in our sales performance is pleasing considering that two of our prime assets, Chadstone and Emporium Melbourne, are not in the comparable reporting basket.
"At Chadstone, which is in the midst of a significant development, same-store MAT growth for specialties was 5 per cent.
"At Emporium Melbourne, monthly same-store specialty sales growth has been averaging 18% compared to the previous year.
“We have enhanced the quality of our portfolio in the period with the acquisition of two high quality centres and the sale of five non-core assets.
“Following the completion of a comprehensive review of our portfolio, we reiterated our strategic focus to create value and drive sustainable growth from a quality portfolio of Australian assets across the retail spectrum.
"We also announced the Group’s through the cycle financial targets of a total return of greater than 9 per cent per annum and underlying earnings growth of greater than 3 per cent per annum.
“We have set clear investment criteria for benchmarking our existing assets and potential acquisitions.
"As a result, $750 million to $1 billion of asset disposal opportunities have been identified, with asset sale proceeds to be reinvested into value accretive development and acquisition opportunities over time."
Three current projects at Colonnades, Halls Head Central and Warriewood Square remain on track to open by June 2016. There are also a further two minor projects (DFO South Wharf and Rockingham) totalling $21 million, which are forecast to have a blended year one yield exceeding 12% and an IRR exceeding 19%, that will complete later in this calendar year.
Development plans are well advanced at Mandurah Forum, with the project expected to commence in mid-2016, while planning for major redevelopments at Roselands and Galleria remains on program. 
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