The residential transformation of St Kilda Road is set to continue into with more new apartment plans for the sought-after boulevard.

Wing Tai Asia has lodged plans for a major residential tower at 464-466 St Kilda Road, replacing the former VACC House with an 18-storey mixed-use development designed around a retained heritage podium and a sculpted contemporary tower.

The proposal, prepared under Victoria’s Significant Residential Development with Affordable Housing pathway, would deliver 325 apartments and ground-floor retail across the prominent 4,653 sqm boulevard site in Melbourne’s St Kilda Road North Precinct.

The project centres on the adaptive reuse of the site’s heritage-listed VACC Building, an eight-storey office designed by Bernard Evans that has occupied the address for decades. Planning documents state the development would involve “carefully dismantling and conserving off-site the original metal fabric of the podium visible from St Kilda Road,” before reinstating it as the defining frontage of the new scheme.

Above the restored podium, Wing Tai is proposing a curvilinear residential tower. The scheme includes 172 one-bedroom apartments, 63 two-bedroom apartments, 66 three-bedroom apartments, and 24 four-bedroom apartments, alongside two ground-floor food and beverage tenancies fronting St Kilda Road.

The tower has been designed with substantial articulation and variable setbacks to minimise perceived bulk and maintain view corridors along the boulevard. Urbis, which prepared the planning report, said the design “has been significantly articulated through a curvilinear design” with “an interplay with materials, façade expression and depth” to create visual separation and visual interest.

The proposal also includes 254 basement car spaces, landscaped pedestrian links connecting St Kilda Road and Queens Lane, and a biophilic landscape strategy featuring canopy trees, raised planters, cascading greenery and a glass oculus pool overlooking the eastern frontage.

Planning documents confirm the $270.1 million development will contribute 3 per cent of project costs to the Social Housing Growth Fund as part of the application process.

Wing Tai acquired the St Kilda Road property in 2018 alongside Abacus Property Group for $95.38 million, before later consolidating ownership of the site. The property previously served as the Victorian Automobile Chamber of Commerce headquarters for around 60 years.

The transformation of the St Kilda Rd boulevard is already beginning to materialise, with a number of high-profile projects recently completed, launched, or approaching launch as developers continue to back the long-term appeal of the precinct.

Among the most notable recent completions is Louise by Samuel Property Group, just off the strip on Queens Lane, the same pocket Hirsch &amp; Faigen recently launched The Queensbury. Mirvac is too on the same street with The Albertine, which is approaching completion.

Dexus recently secured approval for its slice of St Kilda Road, while Gurner also has approved plans for the precinct.

Joel Robinson

Wing Tai unveils 325-apartment St Kilda Road tower on former VACC House site

Malaysian developer <a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> is the latest to jump into St Leonards booming Transport Oriented Development precinct.

The developer, which has previously delivered Sapphire by the Gardens apartment development in Melbourne, identified the Atchison Street site in 2023. It filed a Scoping Report around 12 months ago, and now has revealed the designs for the new&nbsp;40-storey mixed-use tower.

The State Significant Development Application covers <a href="https://next-portal.urban.com.au/projects/14650/summary">20-22 Atchison Street</a>, a 1,374 sqm site positioned between St Leonards Station and the new Crows Nest Metro station.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the project would deliver 181 apartments, above a four-storey commercial podium, five basement levels, and new public domain works along Mitchell Street. The apartment mix comprises 35 one-bedroom apartments, 39 one-bedroom-plus-study apartments, 85 two-bedroom apartments, and 22 three-bedroom residences.

The proposal has been lodged as a shop-top housing development under the NSW Government’s TOD planning pathway, which allows increased density around key transport infrastructure. The site sits within the recently rezoned Crows Nest Accelerated TOD Precinct.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b799673d-48e2-46b0-801a-0e33a9330100" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20site.png?VersionId=dPh0UfwfaHpbFL1R7H1cbZNbIW0CHbCC" />

SP Setia acquired the Atchison Street site as part of its continued expansion into the Australian apartment market. In comments made to City &amp; Country (The Edge Malaysia) in 2023, SP Setia President and CEO Datuk Choong Kai Wai described the acquisition as “a strategic move” aligned with the group’s post-pandemic market recovery strategy.

“Our target for this exceptional development is local and overseas buyers, including first-home buyers, downsizers and investors,” Choong said.

The tower has been designed as a slender vertical form rising from a mixed-use podium, with COX Architecture positioning the development as a response to the evolving St Leonards and Crows Nest skyline.

“The purpose of the project is to facilitate the delivery of high-quality housing at a strategically located site and deliver a built tower outcome that is consistent with the desired future character of St Leonards and aligns with the TOD controls,” the design report stated.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b1a85eee-76f7-436c-a6da-73ba827b9b13" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20entry.png?VersionId=dA9jHGPMcm.dDbwk4QfxqWiY5bfh3UVt" />

The podium would incorporate retail uses fronting Atchison Street, commercial tenancies, landscaped communal areas, and pedestrian improvements along Mitchell Street. Vehicle access and loading would be consolidated via Atchison Lane.

Residents would have access to more than 665 sqm of communal indoor and outdoor spaces, while the development proposes 96 parking spaces across five basement levels.

The proposal also includes a commitment for 10 per cent of residential floor space to be allocated toward affordable housing through a monetary contribution.

COX said the tower form responds directly to the emerging high-density character of the precinct while seeking to maximise solar access, cross ventilation, and outlook from apartments.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="2163f85c-f63b-4be3-aafa-f8763976cec5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_5.png?VersionId=WiAmtIKJ6.ZQ41EtYEQ1fol7AeorKBlL" />

“The building is orientated towards north,” the Apartment Design Guide compliance report noted, adding that the tower’s slim form was driven by the constrained inner-urban site dimensions.

The design also incorporates landscaped setbacks and communal open space at podium level, intended to soften the interface with surrounding streets and improve pedestrian amenity.

The project adds to a growing wave of redevelopment proposals reshaping St Leonards and Crows Nest following the opening of the Sydney Metro City line and the NSW Government’s push for higher-density housing around major transport nodes.

Last week Stockland filed plans just down the road. They want to build a <a href="https://www.apartments.com.au/new-apartments/601-pacific-highway-st-leonards-nsw-2065">52-storey tower on Pacific Highway</a>.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">First look: Stockland plans 52-storey, 538-apartment St Leonards tower&nbsp;</a>

First look: SP Setia targets St Leonards skyline with 40-storey TOD tower

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has revealed plans for a new mixed-use tower at 10 Dangar Street, Wickham, advancing a proposal that would reshape the southern gateway to Newcastle’s city centre with one of the city’s tallest residential buildings.

The State Significant Development proposal, now on exhibition, seeks approval for a <a href="https://www.apartments.com.au/new-apartments/bowline-10-dangar-street-wickham-nsw-2293">43-storey tower</a> immediately adjacent to the Newcastle Interchange. The project would deliver around 200 apartments, including 42 affordable housing dwellings, alongside 99 co-living units, a 171-room hotel, retail space, and new public domain integrated through the site.

The scheme marks a significant escalation of plans previously approved for the site. Urban Property Group took over the prominent 2,904 sqm parcel, where excavation and demolition had already commenced under an earlier consent for a 14-storey mixed-use development.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="58a96dd9-407f-4d20-86b4-94e4bfeef74b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20podium.png?VersionId=LGlf08pdFGAZDzvx_CXC4XakHNZRuEE0" />

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, the tower has been conceived as a landmark transit-oriented development anchored to the Newcastle Interchange precinct. The proposal includes 245 build-to-sell apartments across a mix of one, two, and three-bedroom residences, as well as two penthouses. Fifteen apartments and one operational unit are earmarked for NDIS housing. The co-living component would add a further 99 units, while the podium would accommodate retail uses and hotel facilities.

SJB said the site presents “a valuable opportunity to anchor the precinct by setting the standard for design, active ground planes and character at the key southern gateway.”

The architecture responds directly to the site’s position beside major transport infrastructure and within one of Newcastle’s fastest-evolving urban renewal precincts. The tower form sits above a sculpted podium designed to frame new public spaces, including a through-site pedestrian link connecting Station Street to Hannell Street, landscaped plazas, and activated retail edges.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="a7bd6ff0-f7db-4ce8-a6dc-ea56e72c6149" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20lanne.png?VersionId=xzf39VADyhj7zBQY2I9fx9vI62u2tuSb" />

The design report describes the project as part of the broader transition of Wickham into “a vibrant, high-quality mixed-use urban precinct” that leverages proximity to the station, open space, and regional connectivity.

A detailed public art strategy has also been prepared for the development. The strategy positions the project as “a transit-oriented development of state significance at the gateway to Newcastle’s city centre” and outlines a series of integrated artworks responding to Newcastle’s industrial and transport heritage.

Creative Road’s curatorial framework for the project, titled Unveil, draws on “stratified surfaces, carved volumes, and light-filled apertures” while referencing Newcastle’s transformation from an industrial city into a contemporary education and technology hub.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="77a882bb-14b1-4d28-99ff-9438e39508c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20site.png?VersionId=cevgo_vN0eKPK78P8YcEu3mKPLkpFqE7" />

The proposal is being advanced through the NSW Housing Delivery Authority pathway after being declared State Significant Development in June 2025. The accompanying scoping report states the development aims to “maximise the site’s proximity to the Newcastle Interchange by delivering transit-oriented development” while increasing housing supply and affordable housing provision within the Newcastle LGA.

Urban Property Group’s plans align with the long-term strategic vision established under the Wickham Master Plan, which identified the interchange precinct as suitable for substantial uplift in height and density. The current proposal would significantly intensify that vision, positioning the tower among the tallest developments proposed for Newcastle.

The site sits immediately north of the Newcastle Interchange, bounded by Dangar Street, Hannell Street, and Charles Street. It is surrounded by a rapidly growing cluster of residential towers and mixed-use projects that have emerged following the completion of the light rail and transport interchange.

First look: Urban Property Group unveils Newcastle’s latest tower at Wickham interchange

Bottega House has completed settlement of a landmark riverfront site in Macquarie Street, St Lucia, representing its first major Brisbane development.&nbsp;

Positioned on the banks of the Brisbane River, the <a href="https://www.apartments.com.au/new-apartments/180-macquarie-street-st-lucia-qld-4067">premium site at 180 Macquarie Street</a> features uninterrupted river frontage in one of Brisbane’s most tightly held residential precincts.&nbsp;

The proposed development, currently under assessment with Brisbane City Council, has been designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and will deliver a boutique collection of premium residences positioned specifically for owner occupiers and downsizers.&nbsp;

The residences are set to redefine luxury apartment living in the area, with a focus on architectural quality, refined finishes, landscape integration and elevated amenities including curated wellness facilities, resort-style pools and recreation spaces rarely seen in the local market.&nbsp;

Exclusive sales for the project will be led by Keenan &amp; Byrne, ahead of an anticipated launch later this year.&nbsp;

Bottega House Managing Director Nick Malloch said the project reflects the group’s ambition to deliver a highly curated residential offering within one of Brisbane’s most tightly held precincts.&nbsp;

“This is an incredibly rare riverfront opportunity and one we have approached with a long-term perspective,” Malloch said.&nbsp;

“Our vision from the outset was to create a boutique collection of residences that feel more like private homes than traditional apartments, with generous proportions, refined finishes and exceptional amenity throughout."

Malloch says there is a&nbsp;lack of premium owner-occupier stock of this quality in the market, particularly for downsizers wanting space, privacy and a true lifestyle offering without compromise.&nbsp;

"Demand is expected to be strong given the scarcity of premium riverfront opportunities of this nature within Brisbane’s inner-west."&nbsp;

Bottega House secures landmark riverfront site in St Lucia 

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The arrival of the first piling rig officially marks the commencement of construction at SIERA’s new beachside apartment development, Exhale, in Northcliffe.

<a href="https://www.apartments.com.au/new-apartments/exhale-surfers-paradise-8-enderley-avenue-surfers-paradise-qld-4217">Exhale</a>, a glass-encased tower featuring 54 large-scale apartments at 8 Enderley Avenue, is SIERA’s third Gold Coast development. It follows the recently completed PIPIS Bilinga beachfront project, which achieved suburb-record prices, and the soon-to-be-completed Chevron Island development, Tapestry.

[smartcode_project:default project_id=112661 project_image_fid=359603]

<a href="https://www.apartments.com.au/developers/siera">SIERA</a> Founder and Managing Director Brent Thompson said the arrival of the piling rig represented a significant milestone for the development, which is scheduled for completion in late 2028.

Over the next month, around 260 piles are expected to be installed as work progresses on the basement structure. The building is anticipated to rise above ground level early next year, before unveiling its sculptural glass curtain wall, developed in collaboration with specialist façade engineers.

“The façade was designed to maximise panoramic coastal views while creating a distinctive architectural identity,” Thompson said.

[smartcode_project:default project_id=112661 project_image_fid=355935]

Designed by BDA Architecture, Exhale will comprise just 54 two- and three-bedroom residences across 26 levels, a level of low-density living rarely delivered in this beachside pocket between Surfers Paradise and Broadbeach.

The project has been conceived as a resident-only building, with no short-stay accommodation permitted. SIERA says the model is intended to appeal to long-term owner-occupiers rather than transient holiday demand.

[smartcode_project:default project_id=112661 project_image_fid=361052]

Residences have been designed with large-format layouts and expansive glazing, with most apartments featuring more than 30 metres of glass frontage to maximise natural light and ocean views.

The amenity offering spans two levels and centres on wellness and lifestyle, including a heated magnesium pool, sauna, yoga and Pilates studio, gymnasium, private dining facilities, cinema lounge, and dedicated surfcraft storage.

[smartcode_project:default project_id=112661 project_image_fid=359607]

More than half of the apartments have already sold. SIERA has also opened a sales gallery for Exhale at its Chevron Island commercial premises, near its Tapestry tower and the site of its second Chevron Island apartment development, which is slated to launch in early 2027.
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[smartcode_project_cta:default project_id=112661]

SIERA kicks off construction at Northcliffe tower Exhale

Victoria

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The Brookfield Maze, in Central Victoria, has been listed for sale.
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<div>Avid gardener Eryl Neil and husband Jeffrey began building the maze, in 2010 on the 2.3 hectare parcel.</div>
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<div>The four-bedroom homestead at <a href="https://www.realestate.com.au/property-lifestyle-vic-myrrhee-7921606" target="_blank">1121 Benalla-Whitfield Road</a>, comes with 60-seat cafe and two bedroom guest house comes.</div>
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<div>The property is listed through Garry Nash &amp; Co agent Garry Nash.</div>
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<div>He is asking for $1 million plus.</div>
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<div>Since Eryl and Jeffrey opened the maze, which was designed to be somewhat of a challenge, in 2014 some 14,000 customers tackled the challenge.</div>
<div>It takes on average between 20 and 30 minutes to complete.</div>
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<div><img src="https://www.urban.com.au/images/2017/10/03/Maze1.png" alt=""></div>
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jchancellor-FAypfDUnLy

Brookfield Maze in central Victoria listed with $1 million hopes

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Aside from the traditional cropping and grazing sectors, the increase in interest in viticulture and horticulture assets in south east and western Victoria is continuing, according to Herron Todd White.
A recent report by HTW said local growers looking to expand and corporate buyers seeking investments with higher returns than traditional cropping and grazing assets.
"A recent move of savvy investors away from these traditional regions of focus and toward other now more affordable regions in comparison is starting to emerge," HTW said.
"A great example of this is RIFA’s recent purchase of a circa 4,500 hectare holding near Wycheproof in the north-eastern Wimmera region of Victoria.
"The purchase, although at a premium price for the area at circa $9 million, resulted in a lower cost of production for the purchaser in comparison to buying a similar scale asset in the western districts. 
"The rural market in south-east regional Australia and more particularly western Victoria and south-east South Australia continues to out perform many other investment markets in recent months with capital growth in most sectors and regions continuing to provide strong evidence of growth.
"The past twelve months has seen significant focus on the south-west of Victoria from the corporates and the media which has helped to fuel interest in the area and in turn resulted in record land prices and limited available supply of land left in the market.
"The story is similar across the border in South Australia with recent sales displaying 20 percent to 30 percent increases in land values in the past 12 months in some areas, especially around Robe, Penola and Naracoorte."
The property Nurrungar, <a href="https://www.realestate.com.au/property-other-sa-naracoorte-7923518" target="_blank">661 Range Road Naracoorte</a> is slated for auction late October.
It offers quality pastures on excellent grazing country.
It is for sale by public auction on October 27 at Naracoorte Town Hall through Elders Real Estate's Brian Edwards.
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jonathanchancellor-7SQnKwU6yx

Viticulture, horticulture property in demand throughout Victoria: HTW

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Former Target boss Stuart Machin has sold his turn of the century St Kilda West home for $4.2 million having moved home to the UK.
The Boom Style Victorian home cost Machin $3.3 million when he was the chief of operations at Coles supermarkets.
Set on 310 sqm near St Kilda Harbour, the Mary Street home came with a contemporary Matt Gibson-designed extension.
The three bedroom home features a bluestone terrace with a rear guest house.
Marshall White Port Phillip agents Sam Hobbs and Michael Paproth sold the home.
Now with Steinhoff, Machin spent three years as the Target managing director before departing the retailer last year.
This article first appeared in The Weekend Australian Mansions Australia section.
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firstname1-iYD4UYzvBa

Former Target boss Stuart Machin sells in St Kilda West

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Victoria has experienced the country’s largest, long-term increase in medium density housing (apartments) in the five years to June 2016.
That is according to the Bankwest Housing Density report which is released today and which provides an analysis of approvals in medium density and low density housing over both the long and the short term, combined with the latest Census 2016 data.
The report reveals the amount of medium density housing in Victoria increased by almost a quarter (24.6%) in the five years to June 2016.
Growth in standalone housing during the same period increased by a little (3.4%), signaling Victoria’s shift towards apartment style living.
Bankwest General Manager Broker Sales Stewart Saunders says the state’s growing population has clearly had an impact on the types of houses found in SA.
“Victoria’s population growth was 10.7% in the five years to June 2016 – the highest of all the states - which will have had undoubted impact on the amount of new homes needed during that period,” said Mr Saunders.
Despite the change in housing levels the report shows a slight, short term decline in the amount of medium density properties being approved, down 1.4% to 32,078 in the 12 months to March 2017.
The report also shows the speed at which Melbourne is growing, even outstripping Sydney.
Melbourne City registered 35,011 medium density approvals in the six years to March 2017, the largest number of approvals of any Australian city.
This was almost two thirds (65.0%) more than Sydney’s inner city which recorded 21,222 new medium density approvals over the same period.
<a href="https://www.propertyobserver.com.au/images/2017/08/16/Screen%20Shot%202017-08-16%20at%201.05.45%20pm.jpg" target="_blank">Click to enlarge</a>
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“When we look at the national picture the data paints a picture of a country where, overall, there is a continuing long term trend towards apartment style living,” said Mr Saunders.
“But what is noticeable in the short term analysis is that we see that over the 12 months to March the country has experienced its biggest decline in the proportion of medium density approvals for four years,” Mr Saunders added.
Medium density approvals declined by 6.5% in the 12 months to March to 110,471, down from 118,156 the previous year.
This national decline was largely driven by declines at a state level in Queensland (down 25.6%), and Western Australia (down 27.1%).
Mr Saunders said the annual Housing Density Report had been produced as part of Bankwest’s ongoing commitment to offer insights on economic data, trends and issues of value to its customers, businesses, communities and policy makers.
“Bankwest is committed to helping customers and local businesses achieve what matters, contributing to the development of our communities and being a positive voice in the debate on the future of the economy.”
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j.ballantyne1990-6AQqhLzZaK

Victoria leading the charge to apartment style living in Australia: Bankwest

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Victorian suburbs are set to be the busiest once again this weekend, according to CoreLogic.
The property data firm says the Craigieburn and Reservoir will be the most busiest.
Victoria has all the busiest suburbs for auctions this week, with 19 homes scheduled to go to auction in Craigieburn and Reservoir, while Pakenham will host 15 auctions and Bentleigh East with 14.
The number of auctions scheduled across the combined capital cities this week is expected to see a slight fall, with 1,878 properties scheduled to go under the hammer, after last week saw volumes reach their highest levels since June (2,040).
Across the two largest auction markets, Melbourne and Sydney, volumes are expected to decrease, with 907 homes scheduled to go to auction across Melbourne and Sydney set to host 666 auctions, down from last week’s 955 and 798 auctions respectively.
Across the smaller markets, activity is to be varied this week, with Brisbane, Canberra and Tasmania set to see an increase in activity week-on-week, while Adelaide and Perth the number of auctions scheduled this week are slightly lower.
When compared to last year, volumes continue to track higher each week than what was seen over the corresponding July- August period last year (1,795).
A four bedroom house at <a href="https://www.realestate.com.au/property-house-vic-craigieburn-125934478" target="_blank">5 Brookedge Court</a>, Craigieburn (above) will be auctioned this weekend for between $550,000 to $600,000.
A two bedroom house at <a href="https://www.realestate.com.au/property-house-vic-reservoir-126063174" target="_blank">6/35 Cheddar Road</a>, Reservoir (below) will be auctioned for between $450,000 to $470,000.
<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/2017/08/18/6_35%20Cheddar%20Road.jpg" alt="">
Last week Reservoir was also the busiest suburb for auctions, with 17 homes scheduled to go under the hammer.
Sales included a five bedroom house at <a href="https://www.realestate.com.au/property-house-vic-reservoir-125995538" target="_blank">39 Gertz Avenue</a>, Reservoir (below) that was auctioned and sold for $861,000.
<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/2017/08/10/39%20Gertz%20Avenue.jpg" alt="">
A one bedroom unit at <a href="https://www.realestate.com.au/property-unit-vic-reservoir-125991070" target="_blank">1/72 Pine Street</a>, Reservoir (below) was also auctioned and sold for $325,000.
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Craigieburn and Reservoir tie for the weekend's busiest auction suburb: CoreLogic

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Victoria has all the busiest suburbs for auctions this weekend, with 16 properties scheduled to go under the hammer in Craigieburn, followed closely by Glen Waverley (15), Werribee (13), and Epping and Mount Waverley both set to host 12 auctions each.
Auction activity across the combined capital cities is set to remain somewhat steady this week, with 1,581 properties scheduled to go to auction, decreasing slightly when compared to last week’s 1,627 auctions and higher than the 1,329 auctions held over the same week last year.
<a href="https://www.propertyobserver.com.au/images/2017/07/20/Screen%20Shot%202017-07-20%20at%2011.23.57%20am.jpg" target="_blank">Click to enlarge</a>
<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/2017/07/20/Screen%20Shot%202017-07-20%20at%2011.23.57%20am.jpg" alt="">
In Melbourne, week-on-week activity will remain relatively unchanged, with 757 auctions scheduled across the city, up only slightly from the 756 held last week.
While in Sydney, volumes will fall over the week, with 569 homes scheduled to go to auction, down from the 609 auctions last week.
Activity across the remaining capital cities will be mixed this week, with volumes expected to increase in Adelaide and Canberra, while Brisbane, Perth and Tasmania will see fewer auctions held this week compared to last.
A four bedroom house at <a href="https://www.realestate.com.au/property-house-vic-craigieburn-125821670%5D" target="_blank">12 Glacier Street</a>, Craigieburn (above) will be auctioned this Saturday.
Similarly a four bedroom house at <a href="https://www.realestate.com.au/property-house-vic-craigieburn-125822942" target="_blank">16 Gallantry Avenue</a>, Craigieburn (below) will be auctioned this Saturday as well.
<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/2017/07/20/16%20Gallantry%20Avenue.jpg" alt="">
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Craigieburn leads busiest auction suburbs all in Victoria this weekend

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A home on Toorak’s St Georges Road has reportedly attracted a $40 million offer - which would set the Victorian house price record.  
Domain reports a “whale” buyer, based offshore, quietly agreed to pay the record-breaking price for the trophy home when they were in Melbourne about six weeks ago.
<div class="in-content-ad">"If the sale goes ahead, it will topple the previous record," Domain advises.</div>
The buyer’s advocate David Morrell is quoted as saying the vendors had been seeking a buyer for three years.
“This highlights something that’s been for sale for years, none of the locals can afford to buy it or suggest to buy it, and then some offshore person comes and buys it, and it will never come back on the market again,” he said.
“If you go up and down St Georges Road, you’ll start seeing that all these houses are just locked away.”
The Melbourne record was set in December last year when a new house on Towers Road in Toorak, owned by arts patrons and entrepreneurs Daniel and Danielle Besen, sold. 
No. 9 Towers Road, Toorak, sold for $26.25 million last year.
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Mooted $40 million Toorak sale

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GUEST OBSERVER
Owners or tenants of Victorian warehouse space should review their lease details after a recent decision by the Supreme Court of Victoria was subsequently upheld by the Court of Appeal.
If a tenant supplies goods or services which are then used in something else that is sold to the public, the lease may be governed by the Retail Leases Act 2003.
A recent case saw a warehouse tenant that provided cold storage and logistics services to other businesses in a dispute with the landlord over the nature of the lease and whether it was classed as ‘retail’.
In this case, CB Cold Storage Pty Ltd v IMCC Group Pty Ltd, a warehouse tenant provided cold storage and logistics services to other businesses from the leased premises. 
The permitted use of the premises under the lease was ‘Cold and cool storage warehouse and transport facility’.  
The Victorian Civil and Administrative Tribunal held that the lease was not retail as the tenant’s business did not provide goods or services to the ‘ultimate consumer,’ a person who uses goods or services to satisfy personal needs.
The tenant disagreed with this interpretation and appealed to the Supreme Court of Victoria.
The court found, on 7 February 2017, that the ‘ultimate consumer’ test was valid, but the ultimate consumer could be a person or company that uses those goods or services to produce something else for a business purpose.
For example, if a warehouse is used to supply car parts for an automobile manufacturer, then that warehouse tenant is supplying something to be used in the production of a car, and therefore the lease likely to be covered by the Retail Leases Act.
However, the tenancy would not be covered by the Act if the warehouse was used to supply car parts to a shop who then on sold them to the public, as the shop they were supplying was not using them, merely reselling.
There are some exceptions to this, such as if a tenant is a listed company or its subsidiary. 
If the lease does not permit the use of the premises for retail purposes, a breach of lease may be present, but that does not affect the retail nature of the lease.
The landlord appealed the February decision to the Court of Appeal, which dismissed it on 5 July 2017, noting the following features combined led to the finding that the ultimate consumer test had been satisfied and that the lease was a retail lease:
<ul>
<li>Services were used by the Tenant's customers who paid a fee</li>
<li>Any person could purchase the services if the fee was paid</li>
<li>The Tenant's business was open during normal business hours</li>
<li>The Tenant's customers did not pass on the services to anyone else</li>
</ul>
What does this mean?
<ul>
<li>Tenants may not be charged land tax. They may also be able to recover tax from the landlord retrospectively.</li>
<li>Generally, the term of the lease must be for at least five years.</li>
<li>A rent review clause may not include a “ratchet” which stops the rent falling due to market conditions. Any extra rent paid due to a ratchet clause may be recoverable from the landlord.</li>
<li>The landlord is obligated to provide a detailed “Disclosure Statement” to the tenant. Non-provision or inaccurate information may result in the tenant having the right to withhold rent or to terminate the lease. </li>
</ul>
Tim Kelly is a partner at Rigby Cooke Lawyers and has more than 35 years of legal experience. He can be contacted <a href="https://www.rigbycooke.com.au" target="_blank">here</a>.
 
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Could your warehouse lease now be a retail lease?

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Victorian suburbs dominate the list of places with poor broadband as the National Broadband Network continues to be rolled out across Australia, according to a leading comparison website. 
Victoria has seven out of the top 15 spots, with the worst being Werribee — just 32 km from Melbourne’s CBD — according to Finder.com.au figures.
Finder.com.au technology expert Nick Broughall said that a number of factors determine how quickly you could access the internet, including the type of NBN connection in an area, the state of existing infrastructure, and how many homes were connected to broadband at once, according to a recent article in the News Ltd papers. 
The website has identified 15 of the best places to live and connect, and 15 Australian towns missing out on the latest technology.
Finder.com.au identified the best broadband hot spots by how many homes in one suburb had the fastest NBN connections. Fibre-to-the-premise (FTTP) connections were capable of delivering 1,000 megabit-per-second downloads.
In contrast, the worst suburbs had the most homes with satellite NBN connections despite their proximity to capital cities and could only receive the minimum speed guarantee of 25 megabits per second.
The Australian Competition and Consumer Commission and Choice have both launched studies into Australia’s broadband environment.
“Our research showed surprising results, with the odd premise in the heart of capital cities getting switched to satellite NBN, such as Botany Bay and St Ives in Sydney, Docklands in Melbourne, and Bowen Hills in Brisbane,” Broughall said.
“Often it’s suburbs in the outer city that have been switched to satellite. This is mainly due to housing density and population.”
Similar to Werribee, Kholo at 22 km from the Brisbane CBD had the worst connectivity there while for Sydney it was Kenthurst, 39 km out.
An NBN Co spokeswoman said the company planned to provide “minimum wholesale download speeds of 25Mbps or above” to all Australian homes and businesses by 2020, and would use “the most cost-effective and efficient technology for each area”.
Another research, undertaken at the Centre for Research Excellence in the Social Determinants of Health Equity, suggested that areas of greatest socio-economic disadvantage overlap with regions typically receiving NBN infrastructure of poorer quality.
<h2>Australia’s worst connected suburbs</h2>
(Based on number of premises receiving NBN via Satellite despite capital city proximity)
1 Werribee VIC
2 Bullsbrook WA
3 Kholo QLD
4 Diamond Creek VIC
5 Strathewen VIC
6 The Basin VIC
7 Harkaway VIC
8 Glenorie NSW
9 Martin WA
10 Canoelands NSW
11 Truganina VIC
12 Maroota NSW
13 Mulgoa NSW
14 Lysterfield VIC
15 Kenthurst NSW
<h2>Australia’s best connected suburbs</h2>
(Based on highest number of FTTP connections in suburbs in capital cities)
1 Glenorchy TAS
2 Mill Park VIC
3 Blacktown NSW
4 Tullamarine VIC
5 Brunswick VIC
6 Para Hills SA
7 Auburn NSW
8 Lidcombe NSW
9 Boondall QLD
10 Blackmans Bay TAS
11 Runcorn QLD
12 Taigum QLD
13 Aldinga Beach SA
14 West Hobart TAS
15 Seaford Rise SA
SOURCE: Finder.com.au
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Victoria's Werribee has the nation's poorest broadband: Finder.com.au data

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DomaCom has signed an Agreement with Akuna Lifestyle Estates to launch the first crowdfunded resort-style residential community land development in regional Victoria.
The project, which is planned to be developed and sold in eight stages over three to four years starting this year, is the brainchild of the Melbourne-based Akuna group that has developed a community housing model it believes will better suit the needs of many baby boomers moving into retirement.
Akuna founding director Graeme Jacobs says the Akuna Residential Land Lease Community (RLLC) model is a more affordable and transparent option than the conventional retirement village model.
“Under our scheme there are no exit fees, with any future house sale only subject to the normal residential sales commission fee of 2.5%; there are no refurbishment fees or other costs imposed on the residents with residents getting all the proceeds from the sale of their houses.
“Residents only pay a weekly rental fee that covers all the maintenance of the community’s common areas and full use of the clubhouse, bowling green, swimming pool &amp; gym, as well as council rates, sewerage and water rates.”
DomaCom will use it’s fractional property investment platform to offer an attractive yield to investors for acquisition and development of the land.
A $6m capital raising comprising $1.65m to acquire the land and $4.35m for development planning, approvals and construction of the civil works and common facilities including a clubhouse, sports centre, pool and bowling green.
“This Cobram housing community will give investors the opportunity to secure high yielding returns from the development profit and land-rental activities in an exciting project that will deliver a real social objective – giving retirees affordable housing.”
Jacobs says the target market is those aged over 55 with a focus on retirees who have low superannuation balances and who qualify for Government Rental Assistance on the land lease.
“This target market is growing at 30 per cent per year, with a third of Australians estimated to be over 55 within a generation.
“What is often forgotten is that many Australians are retiring with low superannuation balances, with the equity in their current home being their largest asset.
“Under our proposal, Akuna will develop the land and then sell the homes with 49-year leases at an average price of $265,000 per house”.
“Residents will pay, on average, a gross rent of $175 a week, and typically many will qualify for Federal Government Rental Assistance of up to $65 per week.”
Cobram has been chosen for <a href="https://www.domacom.com.au/public-crowdfunding-campaigns/residential-properties/akuna-cobram-victoria/" target="_blank">Akuna’s first project</a> because of its proximity to major hospitals, health and community centres, major retailers, and recreational facilities.
Other towns in Akuna’s sights for similar Projects are Yarrawonga, about 35 kilometres east of Cobram on the Murray River and Paynesville in the Gippsland Lakes region, 16 kilometres south of Bairnsdale and other popular holiday destinations.
In yet another first for DomaCom, CEO Arthur Naoumidis said, “This project signals the start of our potential to provide a funding model for affordable housing across Australia whilst giving investors new investment opportunities with good yields and capital growth in socially responsible projects.
“Projects with a social conscious are important to many investors.
"Crowdfunding enables this to happen across a number of investments with only a small asset allocation to each so investors can feel good about their investment without going over the top.”
“It is ideally suited to our fractional investment model as it allows for a multiplicity of investors from private and public sources for as little as $2,500”.
DomaCom is targeting a 15% annualised return on the completed project with an estimated ongoing rental income of 8% pa.
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