<section data-scroll-anchor="false" data-testid="conversation-turn-5" data-turn="user" data-turn-id="e65dbe94-e3b6-47f7-b62a-9cbb30c9bf79" data-turn-id-container="e65dbe94-e3b6-47f7-b62a-9cbb30c9bf79" dir="auto">Time &amp; Place’s plans to transform the former David Jones factory building in Surry Hills into a mixed-use residential precinct have gone on exhibition through the NSW Government’s In-fill Affordable Housing pathway.</section>

<section data-scroll-anchor="false" data-testid="conversation-turn-6" data-turn="assistant" data-turn-id="request-WEB:f4d533b7-64a5-413d-86fd-5c99649c2b73-2" data-turn-id-container="request-WEB:f4d533b7-64a5-413d-86fd-5c99649c2b73-2" dir="auto">
The Marlborough House proposal, lodged for the <a href="https://www.apartments.com.au/new-apartments/marlborough-house-47-97-marlborough-street-surry-hills-nsw-2010">47-97 Marlborough Street</a> site, would see the adaptive reuse of the heritage-listed warehouse building alongside the construction of new residential additions and a separate apartment building on the northern portion of the site.

The proposal seeks approval for 172 apartments across three buildings, including 15 per cent affordable housing managed by a community housing provider for at least 15 years from occupation.

<img alt="Marlborough" data-entity-type="file" data-entity-uuid="5d1d3c2a-bf13-47d6-a335-7c01102cdee1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.29.36%E2%80%AFAM.png?VersionId=cjMYrbR.BLUlWH4dar0RVDDo0bG.u2YT" />

Interior view from the Northern Building Penthouse overlooking the park

&nbsp;

The redevelopment is planned for the prominent 3,413 sqm site bounded by Marlborough Street, Goodlet Street and Lansdowne Street, directly opposite Eddie Ward Park and around 200 metres from the Surry Hills light rail stop.

Time &amp; Place acquired the former David Jones building in 2024, marking the first time the property had changed hands in around 50 years.

Designed by Wardle, the proposal centres around the adaptive reuse of the former David Jones factory, originally constructed between 1913 and 1935 in the Inter-War Chicagoesque architectural style.

Wardle noted in its Architectural Design Report that the building “occupies a significant place in the industrial and cultural history of Surry Hills” and at its peak was “the largest department store manufacturing facility in Australia, employing over 800 people and fuelling the growth of Sydney’s fashion and retail industries.”

The practice said the project positions itself “not as an isolated intervention, but as a contributor to the civic, social, and architectural grain of the precinct.”

The proposal would deliver 75 apartments within the retained southern heritage building, 59 apartments within the central addition, and a further 38 apartments within the new northern building fronting Lansdowne Street.

Planning documents show the scheme would comprise a mix of heritage apartments, new-build apartments, townhouses and penthouses.

<img alt="Marlborough" data-entity-type="file" data-entity-uuid="57758518-40a3-4b83-958c-d06e96a2cffa" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.29.42%E2%80%AFAM.png?VersionId=VerlX9ST5xgBi8.1_YRsqdWTJeT6ygjs" />Interior View of the Heritage Building Apartment

The development would also include a ground-floor retail tenancy on the corner of Marlborough and Lansdowne streets, rooftop communal open space, a landscaped pedestrian link along the western edge of the site, and basement parking accessed from Lansdowne Street via a car stacker system.

&nbsp;

The scheme emerged from a competitive design process run by Urbis, with Wardle ultimately selected as the winning architect ahead of FJC Studio, TZG, Architectus and Wilkinson Eyre.

The Design Integrity Panel later described several aspects of the Wardle scheme as fundamental to the project, including “the stepped character of the new addition to the north of the site”, the landscaped western pedestrian link, and the “garden arrival” experience separating the original Marlborough House from the heritage addition.

Wardle’s design heavily references the site’s industrial and heritage history, while also responding to the surrounding Surry Hills streetscape.

The Architectural Design Report describes Surry Hills as “a finely grained neighbourhood with beautiful and expressive brickworks throughout the suburb,” with the proposal introducing a material palette intended to sit comfortably alongside the existing warehouse fabric and neighbouring terraces.

The report also outlines the project’s relationship with Eddie Ward Park and the broader landscape context of the area.

“Marlborough House occupies a site of deep cultural memory and the neighbouring Eddie Ward Park is of local ecological significance, where natural systems, topography, and stories have long shaped human experience,” Wardle noted in the report.

The architects said the proposal sought to “rebind built form to Country” through landscape, materiality and the adaptive reuse of the heritage structure.

<img alt="Marlborough House" data-entity-type="file" data-entity-uuid="9ae3f2f9-c85f-477a-a6f8-b43f6cb97c41" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.29.53%E2%80%AFAM.png?VersionId=B.qUCLqRvJOR.n9CvYcTpaknIX9LuqKZ" />

The project is also being progressed under the NSW Government’s in-fill affordable housing provisions, allowing developments that include affordable housing to access additional height and floor space incentives.

Under the plans, 2,593 sqm of the project’s floor space would be dedicated to affordable housing, slightly exceeding the required 15 per cent threshold.

In its Design Excellence Strategy, Urbis said the project aimed to “sensitively adapt and enhance the heritage-listed building on site through alterations and additions that preserve its historical significance” while delivering “high-quality market and infill affordable housing development in Surry Hills.”

Time &amp; Place has been one of the most active developers nationally in the last 12 to 24 months. Late last year they completed&nbsp;The Queensbridge in&nbsp;<a href="https://www.apartments.com.au/developments/southbank-vic-3006">Southbank</a>, a mixed-use tower with 353 apartments and a hotel. They are currently selling Park Modern, 246 apartments near the famous Botanic Gardens in&nbsp;<a href="https://www.apartments.com.au/developments/south-melbourne-vic-3205">South Melbourne</a>, and have future projects, <a href="https://www.apartments.com.au/new-apartments/the-wilmot-173-burke-road-28-hope-street-glen-iris-vic-3146">The Wilmot</a>&nbsp;in&nbsp;<a href="https://www.apartments.com.au/new-apartments/glen-iris-vic-3146">Glen Iris</a>, the redevelopment of the Northcote Plaza, and another tower in South Melbourne.

The developer broke into Sydney just a few years ago with Two Tides in Manly. They have another project nearby, which is at the ultra-luxury end of the market on&nbsp;<a href="https://www.apartments.com.au/buildings/shoreline-manly-beach-89-90-north-steyne-manly">North Steyne</a>, fronting the beach.

It is also continuing to work through the <a href="https://www.apartments.com.au/news/nsw/first-look-time-place-settles-on-design-for-the-chimes-potts-point-redevelopment">redevelopment of The Chimes building</a> on Macleay Street in&nbsp;<a href="https://www.apartments.com.au/developments/potts-point-nsw-2011">Potts Point</a>, as well as a project on <a href="https://www.apartments.com.au/news/nsw/time-place-to-take-on-mosman-apartment-market">Mosman's Redan Street</a>.
</section>

Joel Robinson

First look: Time & Place unveils Marlborough House redevelopment designs for former David Jones warehouse in Surry Hills

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.

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 

Victoria

<html><body>
A 17,000 acre mixed farming station holding, one of the largest in Victoria’s Western District, has been sold for an undisclosed amount with the buyer emerging as Laguna Bay Agricultural Fund 1.
Reports suggest the sale was for around $20 million. Laguna Bay is a specialist small Australian agricultural assets fund manager which invests on behalf of US pension fund giant, the Washington State Investment Board and other investors.
The property, Banongill Station, is 8km from Skipton and 45 minutes drive from Ballarat includes 30,000 sheep, 2,400 Angus cattle, a full complement of station plant and equipment, and 3,700 acres (1,500ha) of winter cereal cropping land.  
The off market sale was managed through Colliers International’s national director of Rural &amp; Agribusiness, Shane McIntyre on behalf of private owners Stewart and Sue Gull.
McIntyre said Laguna Bay secured Banongill Station as they recognised it to be a ‘best in class’ rural property,” he said.
Vendor Stewart Gull said when he bought Banongill, the wool market was very depressed, so we thought it was important to have diversity and in particular, a stronger focus on cropping.
 “In our first year here, the only revenue was the wool cheque, we have created a balance of wool, fat lambs, beef and cereals. We have continually tweaked each of the areas in search of improvements, including the genetics of our sheep and cattle," he said.
The Banongill Station homestead was established in 1853, when it was separated from Borriyalook station, owned by pastoralist and philanthropist Francis Ormond, the founder of the University of Melbourne's Ormond College.
The original 1853 bluestone cottage forms part of the kitchen in the more recent 1905-built homestead.
It is surrounded by 5 hectares of landscaped show gardens designed by William Guilfoyle, the designer of the Royal Botanic Gardens.
There were rumours in 2012 that the RIFA group were negotiating to buy Banongill Station, but these were denied by the former VFL footballer turned Ballarat property developer Stewart Gull.
</body></html>

jonathanchancellor-7SQnKwU6yx

Victoria's Banongill Station sold

<html><body>
Thornbury, in Melbourne's inner north, ranks as the fastest selling suburb in Victoria, with its townhouses selling in very quick time, according to realestateinvestar.com.au.
Its annual growth has been put at 17.7 percent with the typical townhouse spending just 33 days on market and selling at a $730,000 median price.
<img src="/images/2016/09/15/Screen%20Shot%202016-09-15%20at%2012.09.46%20PM.png" alt="">
Recent townhouse sales include <a href="https://www.realestate.com.au/property-townhouse-vic-thornbury-123153002" target="_blank">a $596,000 offering</a> on Streetle Street (above) and a $612,500 sale on <a href="https://www.realestate.com.au/property-townhouse-vic-thornbury-122981238" target="_blank">Clarendon Street</a> (below). 
<img src="/images/2016/09/15/Screen%20Shot%202016-09-15%20at%2012.10.50%20PM.png" alt="">
The next hottest selling market segment are units in Caulfield North.
Bellfield has the fastest selling houses across Melbourne.
Suburb             Type    Beds    Sell time   Median    Year growth
THORNBURY Townhouse  3        33         $730,000        17.74%
N. CAULFIELD   Unit        3         40         $675,000         0.74%
BELLFIELD        House    3          41         $620,000        12.72%
KENSINGTON    House   2           41         $680,000        12.39%
FLEMINGTON    House   3           41         $835,000          9.29%
HEIDELBERG    House   3           42         $800,000         19.40%
</body></html>

j.ballantyne1990-6AQqhLzZaK

Thornbury tops the six fastest selling suburbs in Victoria

<html><body>
The Victorian government is seeking community and stakeholder feedback on the Better Apartments Draft Design Standards until 19 September.
The final apartment design standards will be introduced in December.
To view the draft standards, <a href="https://haveyoursay.delwp.vic.gov.au/better-apartments" target="_blank">click here</a>.
</body></html>

jchancellor-FAypfDUnLy

Property 101: Feedback sought for Victorian apartment standards

<html><body>
A 115 hectare residential development site in Victoria's Wyndham Vale is on the market for around $70 million through Savills.
<div class="page" title="Page 3">The site, 974 Black Forest Road Wyndham Vale, known as Black Forest Estate, has the potential for 1250 plus lots.</div>
<div class="page" title="Page 3"> </div>
<div class="page" title="Page 3">The site is part of the 500 hectare Black Forest Road North Precinct Structure Plan.</div>
<div class="page" title="Page 3"> </div>
<div class="page" title="Page 3">The approved Structure Plan and draft master plan outline future developments including 25,00sqm of retail, commercial and medium and high density uses, a proposed $10 million community centre, a private school and parklands and a reserve.</div>
<div class="page" title="Page 3"> </div>
<div class="page" title="Page 3">The town centre is to slated to be 8.3 hectares, mixed use commercial at 15.88 ha, the community centre at 1.5h, private school 6.81ha, local parks and reserve at 7.08 ha.</div>
<div class="page" title="Page 3"> </div>
<div class="page" title="Page 3">It is for sale by expression of interest through Savills' Julian Heatherich and Clinton Baxter and closes Thursday 6 October at 2pm.</div>
<div class="page" title="Page 3"> </div>
 
</body></html>

$70m residential site for sale in Victoria's Wyndham Vale

<html><body><div class="page" title="Page 1">
<div class="layoutArea">
<div class="column">
AVID Property Group’s Bloomdale project in Victoria's Diggers Rest has sold 15 lots and sold out in other developments across the state.
AVID’s portfolio in Victoria includes two residential communities Bloomdale in Diggers Rest and Savana in Wyndham Vale, one mixed-use development Evans Park in Cranbourne West featuring its innovative Duo product designed as a live-work home, and one industrial project Link360 Industrial Park in Truganina.
New land releases are planned for Bloomdale and Savana in Wyndham Vale with its Duo display homes built by Zuccala Homes in October.
The next release in Bloomdale will be nine Town Home house and land packages through display village builders at the end of September. It will eventually house over 3,800 residents on 1,400 lots.
For more information <a href="https://www.bloomdale.com.au/about-avid" target="_blank">click here</a>.
</div>
</div>
</div></body></html>

AVID Property Group sold out of Victorian land

<html><body>
The Victorian government’s decision to restrict the booming apartment construction in Melbourne might push Australia into recession in the next year and a half.   
The Victorian government’s decision which could increase the cost of building apartments by about $100,000 will deliver a big blow to employment in the state, says Robert Gottliebsen, a columnist at The Australian. 
Especially, because Victoria has been erecting many more apartments than NSW and all the other states. 
Given Melbourne has a similar population to Sydney, the Victorian government’s decision to slash apartment building will not only create a Victorian recession but also increase the risk of the nation going into recession within 18 months, as the current pipeline of Victorian apartment projects are completed.
NSW cannot carry the whole nation in spite of the boom in apartment construction, argues Gottliebsen.
Going by the new rules, an apartment that currently costs $400,000 will now cost $500,000 and so on up the scale, he says.
“Whether it was planned or not, the boost to the cost of apartments will make it tougher for first home buyers to get onto the property ladder and force dwelling developments into the outer suburbs, with the greater levels of infrastructure investment that such projects require.” 
Only when the price of apartments rises to cover the higher costs will building restart.
The report relied on research by Craig Yelland, a director of Plus Architecture.
The new rules that will inflate the cost of apartment building come in two parts:
• Any apartment complex over two storeys must allow more open space and be further set back from the road. This means less apartments on any block. 
“Under the old rules, a block where, say, 367 apartments could be built, now only 213 can be built — a 40 per cent reduction in the yield. The actual boost to the cost of apartments caused by this regulatory change depends on the project, but for most it will boost the cost of each apartment by $20,000 to $40,000.”
• 15 specific building requirements have been introduced such as greater window areas. Each such addition will add between $2,000 and $10,500 to the cost of a unit — a combined increase of $62,500. 
Combining the two sets of measures adds an average of around $100,000 to the cost of apartments.
“Had these measures been introduced at the start of the apartment building boom their blows would have been less devastating.
“But in 2016, the measures come in the middle of a bank credit squeeze on apartment developments, which is forcing many developers around the nation to use high-cost second mortgage financiers to fund more of their apartment developments. This is also curbing development in NSW.”
The apartment boom in Victoria countered the impact on jobs due to the decline in manufacturing, but coinciding with the new restrictions on apartment developments, the state government’s decision to stop coal seam gas development and deprive farmers of the $100,000-a-year income will push up gas prices at the same time. 
“The almost inevitable Victorian recession will change the national outlook and make a nonsense of the Federal Budget growth sums.
“The development of lower cost apartments in Melbourne will restart when prices rise by around $100,000 per apartment and the banking regulator allows the banks to once again lend to apartment developers. Meanwhile the value of development land will fall.”
{mijopolls 146}
</body></html>

prateek24-ezbwHMbNAk

Victoria's new apartment rules a recipe for recession 

<html><body>
<img src="https://counter.theconversation.edu.au/content/64600/count.gif" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
The Victorian government has announced it will permanently ban unconventional gas, often produced through the controversial process of hydraulic fracturing or “fracking”.
Legislation to implement the ban will be introduced this year.
This ban follows a 2015 report on unconventional gas. Following extensive review, committee members were split over whether to implement a full ban or extend the moratorium on onshore gas development by five years.
The ban announced by the government won’t apply to offshore gas. The government will also legislate to extend a moratorium on onshore conventional gas until 2020. Any future decision to approve onshore conventional gas exploration and production will be subject to review by an expert panel.
So will the ban make a difference?
Where did the ban come from?
The moratorium has been in place since 2012. It applies to all types of onshore gas (tight, shale, coal seam and conventional gas) and to any approval for fracking, exploration drilling activities and the use of chemicals us in fracking.
Last year the Victorian government examined the ban and consulted farmers and other landholders, environment and community groups, the gas industry, gas market analysts, hydrogeologists, manufacturers, tourism operators, local governments and the general public.
The final report was the product of more than 1,600 submissions over a six-month period, as well as the findings of the Victorian Auditor-General Report on Unconventional Gas.
The rationale for the ban comes from two core factors. The first is the significant degree of community concern about the social and environmental impacts of onshore unconventional gas, particularly those associated with hydraulic fracturing.
Secondly, the future economic benefits connected with unconventional gas development did not appear, from the findings of the reports, to outweigh those risks. Indeed, the final report found that it was unlikely that strong unconventional gas reserves were present in large commercial and extractable qualities in Victoria’s brown coal fields.
On the other hand, any development would be highly likely to have a dramatic effect on the region’s agriculture and tourism sectors.
Can fracking be permanently banned?
The existing regulatory framework does not recognise any ban on onshore unconventional gas. Indeed, the provisions in the Mineral Resources Sustainable Development Act explicitly include exploration and mining licences for coal seam gas projects.
However, these regulatory frameworks are being completely overhauled. It is clear that the new provisions will introduce a permanent prohibition on unconventional exploration and development in Victoria. The scope and nature of the ban will depend upon the wording of these provisions.
Any law that is introduced cannot be overridden at the national level because the ownership and management of all onshore minerals and hydrocarbons, including gas, are vested in the state.
Pros and cons
The ban will end the strong environmental concerns that continue to exist around unconventional gas production. It will also alleviate some of the emerging conflicts over land allocation and water usage that have emerged between regional food, tourism and energy sectors.
The ban will also ease climate concerns connected with the generation of energy from fossil fuels. In Australia, fugitive emissions from coal mining, oil and gas production account for approximately 8% of Australia’s greenhouse gas emissions.
Gas extraction, whether conventional or unconventional, can result in significant methane seepage. To date, very few baseline studies are available to compare seepage from drilling and fracking with natural methane seepage.
The ban is likely, however, to have a negative impact on supply, which may affect domestic gas pricing. This is particularly the case if the moratorium on onshore conventional gas production continues and no policy is implemented requiring gas producers to reserve a percentage of produced gas for domestic usage.
The 2015 Gas Market Report, released in March this year, showed that the nexus between international gas prices and east coast LNG production for export, domestic demand and domestic gas prices has become increasingly complex.
Theoretically, eastern Australia has enough reserves to supply the domestic and export markets for the next 20 years. But if the market is divided into the north (Queensland and Cooper Basin) and the south (Victoria and New South Wales) there is unlikely to be enough reserves in the south to meet forecast demand, particularly following the ban.
This will inevitably require the development of more gas reserves in other areas of the south, or imports from the north. If international gas prices and demand support more east coast LNG production, things will get worse as this supply will not be available in the north.
Victoria will, however, continue to utilise gas exploration and production in offshore gas wells in Bass Strait. There are 23 offshore platforms in the strait and ExxonMobil has held these titles for many years.
The offshore gas wells have traditionally supplied most of Victoria’s domestic gas market. Consequently, if the ban did apply to offshore gas exploration and production, it would have a profound effect on domestic gas supply.
Such a ban is, however, unlikely. First, it could not apply to offshore wells located beyond the territorial sea because these come under Commonwealth jurisdiction.
Second, a ban could not be applied retrospectively. Hence it would not affect established offshore title holders who have been supplying the domestic gas market for many years.
Samantha Hepburn is director of the Centre for Energy and Natural Resources Law, Deakin Law School, Deakin University and author for The Conversation. She can be contacted <a href="https://theconversation.com/profiles/samantha-hepburn-5327" target="_blank">here.</a>
</body></html>

Victoria bans fracking, but leaves questions over gas supply

<html><body>
As the Melbourne market gradually winds down, locations in regional Victoria are rising. Regional cities and towns within striking distance of the state capital in particular are travelling well.
There are conflicting views about whether Melbourne has passed its peak or whether it’s still booming.
My research indicates the city’s market has undoubtedly passed the peak in its cycle, with a significant reduction in sales activity since the start of the year. The markets that showed exceptional price growth in the past 12-18 months, particularly middle market suburbs, are no longer growing.
There are still some good sales happening, caused partly by a shortage of listings, which is helping to keep prices strong in selected locations. But the market that existed in 2014 and 2015, with sales activity rising strongly and prices achieving double-digit annual rises in many areas, is no longer happening.
But regional markets close to Melbourne are rising. I have written in the recent past about the City of Greater Geelong, which is now the strongest market in the state.
Bendigo and Ballarat, both strong regional economies close to the state capital, are solid markets with steady price growth.
In between those cities and Melbourne, there are two municipalities which have caught the wave from Melbourne and grabbed the attention of people seeking an affordable lifestyle just outside the city.
These are Macedon Ranges Shire and Mitchell Shire. In a July column I touched briefly on these places in discussing state government population projections.
Macedon Ranges is expected to grow its population 25 percent over the next 15 years. But the municipality likely to see the most dramatic increase in population is Mitchell Shire, which is forecast to more than double its population from 40,000 in 2016 to 81,500 in 2031.
This will make Mitchell Shire - a little north of Melbourne, including towns such as Kilmore, Seymour, Broadford and Wallan - the fastest-growing area in the state.
In the next 20 years Wallan (which is about 60km from the Melbourne CBD) is projected to grow from 11,000 to 31,000, while the village of Beveridge is forecast to explode from the current 1,700 to 21,000.
The towns of Macedon Ranges have already experienced substantial price growth. Towns with big increases in median prices in the past 12 months include Gisborne (up 11 percent), Riddells Creek (up 14 percent), Macedon (up 30 percent) and Mt Macedon (up 18 percent). The median house price for Macedon has risen from $530,000 to $685,000 in 12 months.
Now we’re seeing the towns of Mitchell Shire starting to move. The attractions are affordability relative to Melbourne; a relaxed country lifestyle; and proximity to Melbourne with good road and rail links. It’s feasible to live there while commuting to jobs in Melbourne (keeping in mind that most Melbourne jobs are NOT in the CBD – many of them are in the northern suburbs).
Median house prices include $350,000 in Kilmore, $240,000 in Seymour, $285,000 in Broadford and $380,000 in Wallan.
To date price growth has been moderate – around 5-6% in the past 12 months – but more is expected in the near future.
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a>
</body></html>

terryryder-YECXbqmri2

Forget Melbourne, the regions are Victoria's rising property hotspots 

<html><body>
Real estate agents in Victoria could be forced to publish indicative selling prices on listings as soon as early 2017 following the underquoting controversy in the state. 
The government plans to make it compulsory for an agent to attach an information statement to their listings.
Under the new laws, agents must provide prospective buyers with a comprehensive market analysis including three recent comparable sales, an indicative selling price, and the median price for the suburb. 
Common terms on property listings such as 'contact agent', 'price on application' and 'sale by negotiation' may disappear.
Only a 10 percent price range will also be allowed, with words and symbols suggesting figures such as '$1.2 million+' or 'offers over $1.2 million' will not be allowed.
Agents will have 24 hours to update advertising materials if a vendor has rejected a written offer above the advertised price, or the agent’s price estimate changes. 
The REIV have backed the possible changes, suggesting it will be a significant step forward and will greatly benefit those looking to buy property in Victoria.
REIV chief executive officer Geoff White said that the changes will create a more transparent market, providing clear information to all stakeholders.
“A key objective of the new laws has been to ensure that they are effective in a rising or a falling market, and we believe they have delivered on this objective," he said.
“The changes will provide consistency in pricing of property and the information provided to both vendors and buyers."
The changes come as part of the state governments crackdown on underquoting, where an agent misleads a prospective buyer about the likely sale price.
RealAs however suggest the new underquoting laws will fail.
They suggest some rogue real estate operators which underquote property prices to unsuspecting property buyers will continue to do so despite the laws.
Here is why RealAs believe the Victorian Underquoting Laws will fail:
- Advertising price ranges of more than 10 percent is banned
- Words or symbols in advertising such as 'offers above,' 'from' or '+' will be banned
- How does consumer Affairs Victoria ensure the comparable sales are truly comparable to the property for sale?
- Advertising must promptly updated if the seller rejects a written offer to purchase, or the agent's price estimate changes
- Agents found guilty of underquoting could lose their sales commissions
- Agents have to prove on request from Consumer Affairs Victoria how they arrived at the estimated price
- Real estate agents caught underquoting will face hefty fines, with new offences with penalties of more than $31,000
- The new laws are part of the Labor Government's work to make the real estate industry fairer. The Government has consulted with the REIV which has backed the reforms.
- Rogue Victorian real estate agents which want to underquote under the proposed laws will continue to do so.
To read more about the new underquoting laws <a href="https://www.premier.vic.gov.au/new-underquoting-laws-for-victoria/" target="_blank">click here</a>. 
</body></html>

Property 101: Legislation changes as Victoria cracks down on underquoting

<html><body>
<div>
Victoria is set for the introduction of new apartment standards to improve high rise amenity and access to air and light, according to The Age.
The new Victorian controls, outlined by state planning minister Richard Wynne but still in draft, require apartments have enough daily light and ventilation, with energy and waste efficiency requirement and noise minimisation measure also set out.
The criteria differs from Sydney, who went as far as setting out minimum sizes for apartment, including 50 sqm for one-bedroom apartments and 70 sqm for two bedders.
Victoria's new rules set a minimum standard ceiling height of 2.7 metres, and any habitable room must have direct access to daylight, with the window visible from any point in the room.
"There are a number of apartments that have been built in Melbourne which frankly don't reach in our view a minimum standard," Richard said.
"Buildings that rely on borrowed light, buildings that have poor ventilation, buildings where you can barely put a double bed into the bedroom: this is not the quality of apartments that we should have."
</div>
<div>
Richard's press conference on the new regime was held at a Lendlease development in Docklands, within a one-bedroom apartment of 48-square metre, less than the Sydney standard.
</div>
<div>
The decision not to establish Sydney-style minimum sizes was not a "cop-out", Richard said.
"The opportunity in an apartment like this, at 48 square metres, achieves and in fact exceeds the guidelines that we are putting in place.
"We will not be mandating minimum sizes because we want to ensure that good design is a part of this solution."
</div>
</body></html>

Victoria

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Victoria

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News