National Australia Bank (NAB) will fund <a href="https://www.apartments.com.au/new-apartments/palmera-residences-gold-coast-18-garfield-terrace-surfers-paradise-qld-4217">Palmera</a>, a $1 billion, 52-level luxury residential tower being developed by Central Equity in one of the Gold Coast’s most tightly held coastal locations at Northcliffe.

The project, launched recently by <a href="https://www.apartments.com.au/developers/central-equity">Central Equity</a>, one of Victoria’s largest private residential developers, comes at a time when construction funding for large residential developments has become increasingly competitive as lenders tighten exposure to the sector.

Multiplex has been appointed the builder, and construction is now underway.

[smartcode_project:default project_id=108274 project_image_fid=365784]

Since its first project, Central Equity has delivered more than 85 residential developments with a combined end value exceeding $8 billion.

Palmera reflects Central Equity’s growing focus on the Gold Coast luxury apartment market and continues a relationship between Central Equity and NAB that dates back to the late 1980s, when the bank funded one of Melbourne’s earliest inner-city residential towers at a time when high-rise apartment living in the CBD was largely unproven.

“NAB’s funding of Central Equity’s $36 million CBD development in the late 1980’s to the financing of the billion-dollar tower today highlights the long-term relationship between the two organisations in delivering major residential projects” said Central Equity Founder and Chairman Eddie Kutner.

He said NAB’s early support was instrumental in helping establish the company’s development model.

“When we commenced our first residential tower in the late 1980s the concept of funding off-the-plan apartments was still largely untested in Australia,” Kutner said.

“NAB recognised the opportunity early and supported the project when others were uncertain. That relationship has now continued for more than 37 years across many developments.”

[smartcode_project:default project_id=108274 project_image_fid=365771]

Central Equity was established in 1987 when Melbourne’s CBD and Southbank precinct were still dominated by warehouses and commercial buildings. Fewer than 100 residents lived in Southbank at the time, and large-scale residential development in the inner city was not widely considered.

Recognising changing demographics and lifestyle preferences, the company began developing high-rise residential projects designed to bring permanent residents into the city centre.

Central Equity has provided accommodation for approximately 40,000 residents across Melbourne’s CBD and Southbank, while also incorporating supporting infrastructure including essential lifestyle facilities like retail spaces, childcare facilities and neighbourhood activity centres.

Central Equity has spent many years assembling the Palmera development site on the corner of Garfield Terrace and Frederick Street in Northcliffe, creating a supersite of around 3,300 sqm.

The developer said the Palmera apartment tower reflects its long-term view of the Gold Coast as a growing and increasingly diversified economy.

[smartcode_project:default project_id=108274 project_image_fid=365768]

Supported by infrastructure including the light rail network, major road upgrades expanded education, hospital and medical facilities and continued expansion at the Gold Coast Airport with more internation and domestic flights.

Positioned in the tightly held Northcliffe precinct, the 52-level tower will deliver 347 apartments, targeting buyers seeking a high-end coastal lifestyle, from downsizers to interstate investors.

Designed by Marchese Partners with interiors by DBI, Palmera has been conceived as a next-generation residential offering, featuring a collection of oversized apartments, with premium three-bedroom residences offering sweeping northern views stretching from Surfers Paradise through to Burleigh Heads.

[smartcode_project_cta:default project_id=108274]

Joel Robinson

NAB funds $1 billion Surfers Paradise apartment development, Palmera

Two years after completing one of the newest developments in North Sydney, developer <a href="https://www.apartments.com.au/developers/aqualand-australia">Aqualand</a> is turning its attention to the rapidly evolving St Leonards apartment market.

The developer, which completed AURA by Aqualand on North Sydney's Walker Street, has lodged plans for a 5,918 sqm site at <a href="https://www.apartments.com.au/new-apartments/33-37-herbert-street-st-leonards-nsw-2065">33-37 Herbert Street, St Leonards,</a> seeking approval for a pair of residential towers rising above a shared podium opposite Royal North Shore Hospital.

The proposal forms part of the broader transformation underway across the St Leonards-Crows Nest precinct, where former industrial and commercial sites are increasingly being redeveloped into high-density mixed-use projects tied to major transport infrastructure.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="2cc428cf-fe70-4cac-9cd5-264ad53af62c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.56%E2%80%AFAM.png?VersionId=otKSnHtbjAvAddOnovyXQMgcAwE6DMe1" />

According to the planning documents, the site sits “within the St Leonards–Crows Nest Strategic Centre, identified by the NSW Government as a key area for accommodating future jobs and housing across Sydney.”

The proposal has been designed by fjcstudio, formerly FJMT Studio, and is being progressed through the State Significant Development pathway due to its scale and affordable housing provision.

The scheme would comprise 413 apartments, including 46 affordable housing units, alongside retail and commercial uses fronting Herbert Street. The project would also include communal open space, landscaping, a swimming pool, gymnasium, children’s play areas and podium-level resident amenities.

Planning documents show the development would consist of a part-13, part-39 storey tower form positioned above a four-storey podium.

“The development comprises a unified podium that activates the street interface, and two setback towers to accommodate new housing supply while maintaining an appropriate human scale at ground level,” fjcstudio noted in its Design Report.

The northern and southern towers have been shaped to respond to the surrounding skyline while also limiting overshadowing impacts to nearby public open space, particularly Talus Reserve.

The design report said the differing tower heights were intended to “contribute to a varied skyline while responding to the surrounding built form context and solar access considerations.”

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="36da62dc-ff9e-41f2-a7e3-7be38373751c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.45%E2%80%AFAM_0.png?VersionId=Mo6Rp2r.XRLTzIfg_PEEpw8NepDH8UBs" />

The site sits directly opposite Royal North Shore Hospital and within walking distance of both St Leonards Station and the new Crows Nest Metro station.

While the site itself sits just outside the formal Crows Nest Transport Oriented Development boundary, the planning documents repeatedly reference its alignment with the broader TOD objectives reshaping the Lower North Shore.

“The site is located adjacent to St Leonards Station and in close proximity to Crows Nest Metro which is within the Crows Nest Transit Orientated Development Accelerated Precinct which has been identified by the NSW Government to support housing delivery,” the Design Verification Statement noted.

According to fjcstudio, the project has been designed to respond to the broader transition occurring across St Leonards, where increasing residential density is being concentrated around transport infrastructure and employment hubs.

“The broader precinct is undergoing significant change, with a mix of existing mid-rise buildings and newer high-density developments,” the report stated.

“Recent and approved projects indicate a consistent shift toward taller built form, typically organised as tower-and-podium typologies with more active ground levels.”

The proposal includes close to 6,000 sqm of retail and commercial space across the ground floor and podium levels, designed to create a more activated street edge along Herbert Street.

Aqualand’s plans would also introduce a landscaped podium shared between the two towers, with communal open space in the form of a podium rooftop designed to support resident interaction and improve urban greening outcomes. The scheme would also introduce pocket parks at the northern and southern ends of the site, including a landscaped area at the corner of Herbert and Ella streets designed to improve pedestrian amenity and soften the streetscape.

&nbsp;

The proposal is being progressed through the NSW Government’s Housing Delivery Authority pathway, which was introduced to accelerate housing supply across the state. The application was declared State Significant Development in April 2025 following an expression of interest process.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="faf6d97d-2671-454f-b85a-fe1c6a7be608" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.49%E2%80%AFAM.png?VersionId=diVd28OBVr5.YV.7prrOz.uAanwwwm7a" />

St Leonards has been particularly active with new developments in recent weeks. Developer SP Setia’s <a href="https://www.apartments.com.au/news/nsw/first-look-sp-setia-targets-st-leonards-skyline-with-40-storey-tod-tower">plans for a new 42-storey tower</a> recently went on exhibition through the same pathway, while <a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">Stockland’s 52-storey tower proposal</a> was also recently unveiled.

Aside from the St Leonards project, which is expected to take around nine months to move through the approvals process ahead of a potential 2027 launch, Aqualand is also preparing to launch Boronia, a new apartment project in Roseville comprising around 111 apartments on Larkin Street.

The developer also has approvals in place for the next stage of the Barangaroo precinct, which will feature new residential, retail, hospitality and community uses, alongside a new metro entry across the five-hectare site.

More than 50 new retail destinations are planned for Central Barangaroo, alongside a 270-metre-long boulevard connecting Hickson Park to Nawi Cove. Together with Harbour Park, more than 50 per cent of the precinct will comprise public open space and parkland.

First look: Aqualand joins St Leonards apartment party

<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>

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

Victoria

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Engineering firm Bosch inaugurated its $40 million headquarters and technical centre at Clayton in Victoria this week and said it would invest a further $6.2 million in increasing its diode production capacity.
The investment at its 120,000 square metre campus is its single largest in Australia since it set up the wholly-owned subsidiary in 1954. The company has around 800 employees at the centre.
The centre was inaugurated by the Victorian minister for Industry and Minister for Energy and Resources, the Hon Lily D’ambrosia MP.
Bosch's new headquarters will support new businesses, engineering and R&amp;D initiatives, said a media release.
“The new facility is evidence of Bosch’s long-term commitment to diversified activities in this region including sales and distribution, high-tech engineering, advanced manufacturing and further investment into exciting new fields,” said Gavin Smith, Bosch president with responsibility for the region Oceania. 
<img src="/images/2016/04/22/Screen%20Shot%202016-04-22%20at%206.54.24%20PM.png" alt="">
Most recently, the company invested in Australian start-up The Yield, which focuses on micro-climate sensing technology in agriculture and aquaculture.
Bosch is also working in the areas of Highly Automated Driving (HAD), vehicle connectivity and vehicle security (through secure gateway systems) in Australia.
New business activities in Australia have also been introduced in eBike service, motorsport components sales and innovative software solutions for the Internet of Things (IoT).
In addition Bosch is investing a further $6.2 million in manufacturing for the global automotive sector. The Clayton facility's Diodes production capacity will be increased to cater to its growing international customers. The federal government has also contributed $1 million from the Automotive Diversification Programme (ADP). 
The new facility incorporates offices, workshops, testing facilities, training rooms and employee amenities. It has a landscaped courtyard with semi-established trees, and an outside terrace with an alternative working space.
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prateek24-ezbwHMbNAk

Bosch's $40 million centre in Victoria inaugurated 

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Foreign buyers will have to pay more stamp duty on Victorian residential real estate.
The Victorian government could raise an extra $500 million over four years.
Treasurer Tim Pallas said next week’s budget will increase the stamp duty surcharge for foreign buyers from three to seven per cent.
The land tax surcharge for absentee owners will rise from 0.5 to 1.5 percent.
“Victorians would say we deserve a contribution back into the state services from foreign purchases,” Mr Pallas told radio station 3AW.
The Labor government first introduced the surcharges for overseas property owners in last year’s budget.
Statistics show foreign demand for new properties in Victoria leapt from about 5 percent in 2011 to more than 30 percent in 2014.
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jchancellor-FAypfDUnLy

Foreign buyers in Victoria to have even higher stamp duty

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Residential real estate group, McGrath Estate Agents has announced the signing of two new franchise offices in the Melbourne. 
The offices will be in bayside suburb of Bentleigh situated in the southeast, and another in the outer-east at Croydon. 
Both offices are due to open in May, bolstering the number of Melbourne offices to four since it first entered Victoria in December last year. 
McGrath Chief Executive John McGrath said he was delighted by the continued momentum in the company’s expansion. 
McGrath Bentleigh will be led by Melissa Ryan and Peter Sinclair. 
The new franchise office will focus on the key suburbs of Ormond, Bentleigh, Bentleigh East, Oakleigh and Murrumbeena. 
McGrath Croydon will be led by Paul Fenech. The new franchise office will focus on the key suburbs of Croydon, Kilsyth, Mooroolbark, Croydon Hills and Croydon South. 
The two new Melbourne offices will bring the current office count across the East Coast of Australia to 84. 
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McGrath to open Croydon and Bentleigh offices

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<div>
<div>The head of Victorian real estate’s peak body, the Real Estate Institute of Victoria, Enzo Raimondo is set to depart.</div>
<div> </div>
<div>He has served as the Real Estate Institute of Victoria’s chief executive for 16 years, after arriving in March 2016 from the Real Estate Institute of South Australia where he was the ceo.</div>
<div> </div>
<div>Representing over 2000 Real estate businesses in Victoria who employ over 14,000 people, over 80 per cent of all real estate agencies in Victoria are members of the REIV.</div>
</div>
<div>
Mr Raimondo’s replacement has not been been announced.
"I've had 16 wonderful years," said Enzo who has two sons working in real estate.
REIV President Geoff White will step in as acting CEO from mid-May, working alongside Mr Raimondo.
After 16 years of service, REIV CEO Enzo Raimondo is departing the REIV to take up an undisclosed opportunity in the property industry.
Mr Raimondo is the REIV’s longest-serving CEO, commencing in the role in 2000. 
Mr White acknowledged Mr Raimondo’s significant contribution to the industry – both in Victoria and South Australia where he was previously CEO of the REISA – and said that it provided a solid foundation for the next stage in the REIV’s evolution.
“His efforts are to be commended and have greatly increased the profile of the sector and members’ interests,” he said.
Under Mr Raimondo’s leadership, the REIV has introduced compulsory CPD for members, and launched a range of digital products, including propertydata.com.au and realestateview.com.au.
He added that the REIV “recognises this as a wonderful opportunity to build upon what has been achieved to date, and to ensure continued advancement for the real estate industry’s peak body”.
 
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Enzo Raimondo stepping down from REIV

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Trust account dealings and rooming house operators came under the microscope of Consumer Affairs Victoria in the second half of 2015.
Consumer Affairs Victoria Director Simon Cohen has released the regulator's Half Year Report, which details hundreds of inspections of estate agents and rooming house operators state-wide – resulting in fines, estate agent licence suspensions and jail sentences.
The state’s 4,370 trust accounts are held by more than 2600 estate agents and are worth nearly $2.1 billion.
During the second half of last year, Consumer Affairs Victoria issued 54 infringements to estate agents for failing to get their trust accounts audited within three months of the end of their reporting cycle or failing to submit a copy of the audit report to Consumer Affairs Victoria within 10 business days of receiving it. Penalties ranged from $948 to $1820.
Court action was taken against 16 estate agents over trust account deficiencies, resulting in penalties including a licence suspension of nine years for an agent who caused trust account deficiencies of $37,000. In February 2016, Huntingdale estate agent Anthony Brancatella was sentenced to a 40-month jail sentence for trust account offences of nearly $2 million.
“Victorians put their trust in estate agents to sell their home. While most estate agents are doing the right thing, those who don’t meet their trust account obligations can expect to be investigated,” Mr Cohen said.
“Buyers, sellers, landlords and tenants rely on estate agents to deal with deposits and bonds honestly and scrupulously. Any deviation from strict probity requirements is a serious matter.”
Rooming house operators also came under scrutiny. Consumer Affairs Victoria will inspect all 1,100 rooming houses this financial year, to ensure compliance with minimum standards and the state’s rental laws.
In the second half of 2015, 376 rooming houses throughout Victoria were inspected, and 48 re-inspections were completed to make sure any problems found were quickly addressed.
“Rooming house standards are there to protect the state’s most vulnerable residents, and these are enforced by Consumer Affairs Victoria inspectors.”
In October, following a Consumer Affairs Victoria prosecution, the Magistrates’ Court awarded $800 compensation to a rooming house resident after SLM Housing Pty Ltd interfered with the resident’s rights by withdrawing a fridge from his room with the aim of causing the resident to leave. SLM Housing Pty Ltd was also fined $3000 by the Court. 
Consumer Affairs Victoria has commenced further proceedings in Sunshine Magistrates’ Court against the same operator, which is facing 158 charges in relation to alleged breaches of the minimum standards at rooming houses it operates.
For more information <a href="https://www.consumer.vic.gov.au" target="_blank">click here</a>.
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Property 101: Trust account dealings, rooming house operators under microscope

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Horsham, a regional city in the Wimmera wheat growing region in western Victoria, is the new entrant at the top of the April property clock for houses.
The valuation firm Herron Todd White has issued its latest property clock for the residential market - a simple broad brush means to suggest where property markets are in April - and what direction prices are moving in.
All the other four are from NSW, namely Coffs Harbour, Dubbo, Newcastle and Central Coast and have retained their peak of market position from March as well. 
Horsham’s residential real estate market continues to provide a stable investment for both owner-occupiers and investors. The urbanisation of today’s population is bringing senior members of the community to central service hubs such as Horsham and generally increasing the larger centre’s ability to attract and retain the younger generation and continuing its population growth. In turn this brings about expanding outer built up fringe areas and increased prices for inner city property located in close proximity to shops and services.
As real estate in inner city Horsham continues to appreciate, more and more buyers are looking for cheaper alternatives. In larger centres such as Ballarat or Melbourne, this would see buyers moving further out of town into the suburbs and becoming more reliant on the local neighbourhood shopping centre. 
In Horsham, this phenomenon is generally different and sees families moving to smaller nearby town such as Murtoa and Dimboola that are located within a 30 minute drive of Horsham but maintain schools and local shops. House prices in these smaller towns are significantly lower than Horsham. As an example, Horsham’s current median house price sits at $290,000 while Dimboola’s median house price is a far more affordable $120,000. When weighing up size and affordability, regional towns are definitely an option.
Among the others, Gold Coast has climbed one notch from a rising market to approaching the peak. Sydney remains in the 'starting to decline' phase, while Mount Gambier and Townsville continue to stay at the bottom of the market.
<a href="/images/2016/04/11/Screen%20Shot%202016-04-07%20at%203.21.47%20PM.png" target="_blank">Click to enlarge</a>
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Victoria's Horsham joins NSW regions at top of house clock: HTW

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A one bedroom property in Main Ridge Victoria is on the market.
Set on 26 hectares of grazing bush and sprawling hills, the property offers views to Bass Strait, the Heads, Port Phillip and the Bellarine Peninsula.
A building permit to extend the original, architecturally designed stone dwelling to a four bedroom home exists. 
A stream meanders through the property and a dam supplies water for livestock.
A separate studio is nestled into the hillside further down the estate.
The property at <a href="https://www.realestate.com.au/property-house-vic-main+ridge-121424642" target="_blank">32 Davos Street</a> is available through Meg Pell of Kay &amp; Burton Flinders.
The home has been on the market for 125 days.
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One bedroom retreat at Main Ridge listed

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Elwood apartments topped and tailed REIV weekly auction and private treaty results.
The $235,000 Elwood flat at 6/6 Cyril Street (above) had last sold in 2008 at $195,000 and $220,000 in 2001.
It had been a $230 weekly rental when advertised earlier this year, reflecting a five percent rental yield.
Woodards Real Estate had been quoting $195,000 to $210,000 for the 1970s one bedder.
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Elwood apartments top and tail REIV results

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Rules for keeping a pet in a rental property and the rights of landlords to enter rented premises are among topics Victorians are being asked to have a say on, as part of a Victorian Government review of the state’s rental laws.
Public consultation is underway on the third in a series of issues papers as part of the review.
Rights and Responsibilities of Landlords and Tenants considers how the Residential Tenancies Act 1997 (the Act) sets boundaries around what tenants and landlords can and cannot do throughout the tenancy.
Issues up for discussion include all aspects of letting out a property, from the first application and screening process, to moving in and compensation for ending a lease early.
Director of Consumer Affairs Victoria Simon Cohen said the review is calling for people’s views on matters such as tenants' rights to keep pets and to sub-let a property, tenant privacy and notices to end tenancies.
“The review forms part of the Victorian Government’s Plan for Fairer Safer Housing, and aims to ensure rental laws strike a fair balance between the rights and responsibilities of tenants and landlords across all forms of rental accommodation,” Mr Cohen said.
“We want to hear people’s views on the issues raised by landlords and tenants, as they exercise their rights and responsibilities during the various stages of a tenancy.
“Make a submission by sharing your story, participating in polls, blogs and discussions through the Fairer Safer Housing website."
Feedback on these issues will help identify how the needs and preferences of Victorian landlords and tenants have changed since the legislation came into effect almost 20 years ago, and indicate areas that should be a priority for reform.
Three more issues papers are scheduled for release in the first half of 2016.
“We want to hear from renters and rental property owners from all corners of the state,” Mr Cohen said.
Details about how you can have your say, including information for culturally and linguistically diverse communities, are available on the <a href="https://fairersaferhousing.vic.gov.au/renting" target="_blank">Fairer Safer Housing website</a>.
Issues for public consultation include:
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<li>the tenancy application process and appropriate screening practices</li>
<li>information that should be disclosed to a tenant at the start of a tenancy</li>
<li>digital technology and the form and service of documents and notices</li>
<li>the process to be followed when a landlord or tenant breaches a duty under the Act</li>
<li>enforcing additional terms in the tenancy agreement, including rules about pets</li>
<li>balancing the right of tenants to quiet enjoyment and the right of landlords to enter premises, particularly where the premises are being sold</li>
<li>balancing the interests of landlords and tenants in respect of sub-letting and lease assignments</li>
<li>reasons a landlord or tenant can terminate a lease, and rules around compensation for lease breaking</li>
<li>what arrangements should apply to goods left behind by a tenant at the end of a tenancy</li>
<li>increasing protections for tenants experiencing family violence</li>
<li>the conduct of agents acting on behalf of landlords.</li>
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Property 101: Victoria reviews rules about pets and tenancy

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Consumer Affairs Victoria is undertaking a review of the following consumer property legislation:
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<li>Estate Agents Act 1980</li>
<li>Owners Corporations Act 2006</li>
<li>Conveyancers Act 2006</li>
<li>Sale of Land Act 1962</li>
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The review will:
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<li>identify opportunities to modernise and improve the legislation, taking into account stakeholders’ experiences and industry developments since each Act came into operation</li>
<li>examine whether the legislation efficiently and effectively regulates the conduct of licensed practitioners involved in the sale of land, real estate transactions and management of owners corporations</li>
<li>recommend changes to improve the way the legislation operates. </li>
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<h2>Consultation process</h2>
As part of this review, the Minister for Consumer Affairs has approved the release of three issues papers for public consultation. The purpose of these papers is to raise issues for consideration and comment, and draw out evidence and commentary from stakeholders about the nature of the issues and the extent of any problems.
Anyone may make a submission for consideration in response to the issues papers.
Each issues paper includes a series of questions as a guide to writing your submission. We also welcome your suggestions for other issues you believe should be considered in the lead-up to the release of an options paper in mid-2016.
<h3>Making a submission</h3>
You can make a submission until 11 March 2016:
By mail: Consumer Property Law Review Policy and Legislation Branch Consumer Affairs Victoria GPO Box 123 Melbourne VIC 3001 By email: <a href="mailto:consumerpropertylawreview@justice.vic.gov.au" target="_blank">consumerpropertylawreview@justice.vic.gov.au</a>
Unless you label your submission as confidential, your submission or its contents will be made publicly available in this and any subsequent review process. Submissions may be subject to Freedom of Information and other laws. Consumer Affairs Victoria reserves the right to not publish information that could be seen to be defamatory or discriminatory.
Please ensure any documents sent via email do not exceed 5 MB in size. Word documents are preferred, for accessibility reasons.
Your submission must include:
<ul>
<li>your name</li>
<li>organisation name (if applicable)</li>
<li>your email address.</li>
</ul>
Submissions will be made available on our website after 11 March.
If you have any queries, please email <a href="mailto:consumerpropertylawreview@justice.vic.gov.au" target="_blank">consumerpropertylawreview@justice.vic.gov.au</a>
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