The enormity of delivering a true skyscraper in Australia's new development market is often overlooked.

It has taken the best part of a decade since plans for Chevron One were first unveiled, but the 52-storey tower is now complete, with residents collecting their keys and moving into what has become one of the Gold Coast's most recognisable new landmarks.

Rising 127 metres above Chevron Island, Chevron One stands almost twice as high as any other building on the island. Its scale places it alongside the trio of towers at Jewel, arguably the last truly significant addition to the central Gold Coast skyline when they were completed around six years ago.

While there are several developments underway around a similar height to Chevron One, they are more concentrated within clusters of the highest towers in the city. The fact Chevron One sits within a developing precinct, looking back at the other high-rise developments in Surfers Paradise and Broadbeach, makes it a different proposition altogether. It will certainly become a reference point on the Gold Coast skyline.

[smartcode_project:default project_id=6515 project_image_fid=68833]

Developer Bensons Property Group is behind the 52-storey tower, which has just shy of 250 apartments, along with an exhaustive list of resident amenity spread across what is the largest development site ever assembled on Chevron Island.

The tower has been the talk of the town for years, says Ray White Projects Gold Coast agent Caitlin Rosenboom, who is selling the remaining apartments.

"People have been watching Chevron One go up for years," Rosenboom says, adding that many prospective buyers have been surprised by the scale of the views once they step inside.

"It's only when they walk through a completed apartment that they truly understand the position of the building," Rosenboom says.

"The views are jaw-dropping. Whether you're looking east over the ocean, across Surfers Paradise, along the river systems or out to the hinterland, every level offers something different but equally impressive."

[smartcode_project:default project_id=6515 project_image_fid=360215]

One of Chevron One's defining advantages is its location on the eastern side of Chevron Island on Stanhill Drive, a position which protects the views forever.

"There's only one row of houses between Chevron One and the water, and the height restrictions along the river means views from Chevron One can never be built out,"&nbsp;Rosenboom says.

While new apartment developments continue to emerge across the Gold Coast, Rosenboom says opportunities to secure a completed apartment with this level of outlook are becoming increasingly rare.

"The size of the site is something that would be incredibly difficult to replicate today," she says.

"That's allowed Chevron One to deliver the sort of amenity, open space and resident facilities that very few projects can offer. There are not many completed apartment buildings on the Gold Coast right now that can compete with the combination of scale, quality and amenity."

[smartcode_project:default project_id=6515 project_image_fid=68839]

There's around 2,000 sqm of amenity solely for the use of residents of Chevron One. Club One features a uniquely shaped swimming pool that mirrors the footprint of the building itself, set within a extensively landscaped gardens. There's also an indoor pool and spa, a fully equipped gym with a Pilates room, a yoga garden, a bookable private dining area and lounge that can host up to 30 people, and a 24-hour concierge service.

As for the buyers, Rosenboom is fielding enquiry from everywhere: Sydneysiders and Melburnians looking at the new and off-the-plan market following the changes in the Federal Budget, as well as those looking to relocate, through to South East Queenslanders seeking either a permanent home or a weekender bolthole.

"The Gold Coast lifestyle continues to resonate with people relocating from the southern states, and when they see the views and the quality of what's been delivered at Chevron One, it becomes very easy for them to understand the appeal," Rosenboom says.

A diverse mix of one, two and three-bedroom apartments remain available, with each offering "something a little different", be it the orientation and views, configuration, or level, to suit a wide variety of buyers.

The remaining apartments are ready to inspect in person, by appointment.

[smartcode_project_cta:default project_id=6515]

Joel Robinson

A decade in the making: Residents to move into Chevron One as construction wraps up

A general rule of thumb in new apartment developments is that the penthouses get the rooftop.

It's a formula that's become commonplace across Australia's apartment market. Residents might have access to a pool, gym or barbecue facilities on a dedicated lower level, but the most desirable outdoor spaces are typically reserved for the highest-priced homes at the top of the building.

Sherpa Group has taken the opposite approach.

Rather than dedicating the rooftop to a handful of buyers, the Gold Coast developer has made it the centrepiece of its Flourish collection, creating expansive shared spaces from the best vantage point in the building.

The philosophy has reached its most ambitious expression at Flourish Soleira in Palm Beach, where two rooftop precincts connected by a skybridge will deliver one of the most extensive lifestyle offerings seen in a residential apartment project on the Gold Coast.

[smartcode_project:default project_id=150017 project_image_fid=374053]

"We're seeing a clear move toward developments that offer more than just an apartment," Sherpa Group founder Christie Leet said.

"People want spaces that support how they actually live, whether that's working from home, staying active, or spending time with family and friends.

"That's where amenity becomes critical. It's not just about what's included, but how those spaces are designed to be used every day."

[smartcode_project:default project_id=150017 project_image_fid=374052]

The breadth of amenity has already attracted buyers across multiple demographics. Younger first home buyers have been drawn to Soleira's one-bedroom apartments, a product rarely delivered in Palm Beach, while families have responded to practical inclusions such as the shallow children's pool adjoining the main lap pool and the extensive communal recreation areas.

Instead of a single rooftop, Soleira delivers two distinct lifestyle zones.

[smartcode_project:default project_id=150017 project_image_fid=372547]

The southern rooftop has been dedicated to wellness, featuring a gym, yoga and Pilates studio, work-from-home facilities, a wellness centre, spa, and hot and cold plunge pools.

The northern rooftop focuses on recreation and entertaining, incorporating a heated resort-style pool, private dining rooms, pizza ovens, barbecues, a golf simulator, children's recreation areas, and what is expected to be the Gold Coast's first rooftop basketball court, which will also double as a squash court.

[smartcode_project:default project_id=150017 project_image_fid=374054]

Beyond the rooftops, Soleira will introduce 1,500 sqm of curated retail beneath the towers, creating one of Palm Beach's first genuinely mixed-use lifestyle precincts where cafés, restaurants and convenience retail become part of residents' everyday lives.

Sherpa has also retained management rights across the development, allowing it to oversee the long-term operation of the building through a 24-hour concierge model. The developer is also exploring additional revenue streams within the precinct aimed at helping offset ongoing body corporate costs for residents.

[smartcode_project:default project_id=150017 project_image_fid=370962]

While Soleira is the largest project Sherpa has delivered, the rooftop-first philosophy has been evolving for several years.

It began with Flourish Amargo, the first project released under the Flourish brand. Rather than competing at the ultra-luxury end of the market with oversized half-floor and full-floor residences, Sherpa focused on creating lifestyle-driven apartments supported by resort-style shared spaces.

Amargo introduced more than 800 sqm of rooftop amenity, combining wellness facilities, heated pools, entertaining areas, cabanas, pizza ovens and private dining spaces into what was designed as an extension of residents' homes rather than a facility used only occasionally.

[smartcode_project:default project_id=146527 project_image_fid=366550]

That approach continued with Flourish Oasis, where the same amenity-led philosophy was refined into a more boutique development. Strong demand from Sherpa's growing VIP database saw much of the project sold before it reached the broader market, reinforcing buyer appetite for apartment communities centred around shared lifestyle experiences.

Flourish Amargo is slated for completion mid-way-through next year, with Oasis to be delivered by late 2027. Flourish Soleira is expected to complete in 2030.

[smartcode_project_cta:default project_id=150017]

Sherpa takes amenity to the sky as Flourish Soleira captures booming Palm Beach demand

As apartment living continues to evolve across Sydney's growth corridors, the quality and distribution of shared spaces is increasingly shaping how residents experience home. Rather than functioning as add-ons, amenities are being embedded into the daily rhythm of a building, supporting everything from quiet retreat to social interaction, often within a single vertical community.

At <a href="https://www.apartments.com.au/new-apartments/aeris-melrose-park-nursery-street-melrose-park-nsw-2114">Aeris</a> in Melrose Park, this approach is resolved through a layered amenity offering that unfolds from ground level through to its upper podium. Developed by <a href="https://www.apartments.com.au/developers/sekisui-house-australia">Sekisui House Australia</a> in partnership with Hankyu Hanshin Properties, the project introduces 468 apartments across two towers and a mid-rise building, positioned at the highest point of the broader masterplan.

[smartcode_project:default project_id=426 project_image_fid=359199]

The amenity experience begins at street level, where two courtyards sit within a landscaped setting that connects residents to the wider network of parks and green spaces. These green spaces are not isolated pockets but part of a wider pedestrian network that links Aeris to the surrounding <a href="https://www.apartments.com.au/developments/melrose-park-nsw-2114">Melrose Park</a> precinct, including Central Park, future schools, and the Town Centre opening in July 2026. The result is a transition that moves from public to private without abrupt boundaries, allowing residents to pass through shaded, tree-lined environments before reaching the building itself.

Moving upward, the focus shifts to the level five podium, where the primary communal facilities are concentrated. This space brings together a 16-metre swimming pool, outdoor seating areas, and a communal BBQ zone arranged to take advantage of elevated outlooks. Seating is positioned beneath pergolas, creating pockets of shade that extend the usability of the space throughout the day. The pool edge aligns with views toward the wider district, reinforcing the sense of elevation that defines the project’s positioning.

In the adjacent building, this is complemented by quieter, more contemplative spaces, including an outdoor cinema set within the same level. Positioned to operate primarily in the evening, it introduces a different tempo to the shared environment, shifting from daytime activity to after-hours use without requiring separate zones.

[smartcode_project:default project_id=426 project_image_fid=360299]

The podium also accommodates an intimate private resident gym. Located on the lower levels, it gives residents convenient access to fitness facilities without leaving the building.

Above, the elevated podium sky deck extends the amenity offering, providing additional open-air spaces with elevated outlooks across the surrounding landscape. While more restrained in program, this upper level reinforces the project’s vertical progression, from ground-level greenery to elevated outlook, allowing residents to move between distinct spatial conditions within a single address.

This distribution of amenities reflects a deliberate response to how residents use space across the day. Sekisui House Australia Sales and Marketing Director Peter Kalaf points to the role these shared areas play in shaping buyer demand. Aeris has been conceived as more than a collection of apartments, with the podium pool, gym and outdoor cinema forming part of a broader lifestyle offering that extends the home beyond each individual residence.

[smartcode_project:default project_id=426 project_image_fid=360300]

What distinguishes Aeris is not the inclusion of these elements individually, but how they are arranged in relation to one another. Active, social, and passive spaces are layered vertically rather than separated, allowing residents to choose between them without leaving the building or moving far from their apartment. This proximity supports both routine use, such as a morning swim or evening workout, and more occasional gatherings, whether around the BBQ area or within the cinema setting.

The amenity design also sits within a broader framework of connectivity across Melrose Park. The Melrose Park Town Centre, anchored by Coles and Dan Murphys, features a mix of retail, dining, health and lifestyle offerings, bringing everyday convenience closer to residents. By the end of the year, more than five hectares of parks and open space, equivalent to around seven football fields of green space on residents' doorstep, will further enhance the precinct, allowing the internal facilities at Aeris to operate as an extension of the wider neighbourhood rather than a substitute for it.

Construction at Aeris continues to gather momentum, with ground floor slabs expected to be completed in late 2026 before the first sections of the buildings begin to rise above ground.

[smartcode_project_cta:default project_id=426]

Elevated amenity anchors daily life at Aeris, Melrose Park

Repeat buyers are one of the strongest measures of confidence in any apartment development.

At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.

Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/FH_1EzB-1vs?si=XScVlP1ERsTDJoME" title="YouTube video player" width="560"></iframe>

"I had some boxes I wanted to tick," he says.

Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.

“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.

He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.

[smartcode_project:default project_id=135096 project_image_fid=356818]

After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.

"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."

Today, Keith says the move has completely changed how he experiences Newcastle.

"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."

[smartcode_project:default project_id=135096 project_image_fid=356828]

Beyond the location, he says it's the sense of community that has surprised him most.

"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."

For Aimee and Lyle Goodman, the journey started almost by chance.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/tsioMLcnjas?si=zq-ys3JuWpfa5hFv" title="YouTube video player" width="560"></iframe>

The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.

"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."

As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.

"We actually catch up more as a family now," Aimee says.

"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."

[smartcode_project:default project_id=135096 project_image_fid=356829]

Lyle says their confidence came from GWH's reputation within Newcastle's building industry.

"I know people who've worked across different apartment projects, and whenever GWH came up the feedback was always the same. They're rock solid. They're quality."

That confidence only grew throughout the buying process.

"One of the things that really impressed us with GWH was the whole process, was the communication," Lyle says. "It was consistent, it was regular, there was no problem if we had some weird questions, there was no problems in getting answers."

[smartcode_project:default project_id=135096 project_image_fid=351104]

Aimee says one moment stood out.

"The project actually finished on time. We realised we needed to hurry up and sell our house because everything was happening exactly when they said it would."

The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.

Their confidence reflects what many buyers are seeking in today's apartment market. Location remains important, but so too does certainty around delivery, quality and long-term liveability.

[smartcode_project:default project_id=135096 project_image_fid=356822]

ERA builds on those foundations with 280 one, two and three-bedroom apartments across two landmark towers in <a href="https://www.apartments.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a>.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/fk-australia">Fender Katsalidis</a>, the project will include more than 2,000 square metres of resident amenities, including a resort-style pool, gym, sauna, private cinema and rooftop entertaining spaces overlooking the harbour and coastline.&nbsp;

The development is also within walking distance of the Newcastle Interchange, Honeysuckle, Darby Street, the harbour foreshore, restaurants, retail and the city’s beaches, continuing the walkable lifestyle that existing GWH buyers say has transformed how they live.

[smartcode_project:default project_id=135096 project_image_fid=356826]

For Keith, the appeal remains straightforward.

"You feel at home even before you've moved into your home."

For Aimee, the change is measured in time.

“I just felt like I had more time,” she says.

[smartcode_project:default project_id=135096 project_image_fid=351102]

Construction at ERA is now underway, with more than half of the residences already sold and limited two and three-bedroom apartments remaining in the East Tower release. Priced from $980,000 for two-bedroom residences and $1.46 million for three-bedroom residences, buyers can secure an apartment with a 10 per cent deposit, with premium homes offering ocean views from Level 8 and harbour views from Level 10.

ERA is also backed by Resilience Insurance's 10-year Latent Defects Insurance policy, providing protection against structural or waterproofing defects for 10 years after completion. The project is anticipated to be completed in early 2028.

[smartcode_project_cta:default project_id=135096]

From ONE to ERA: Why buyers are choosing GWH again in Newcastle West

Virgate Property Group is preparing to commence construction of Verdé, its new apartment development in Melbourne's Arts Precinct at Southbank, following a strong run of sales that has seen more than half of the project's 173 apartments secured.

Verdé has attracted a broad mix of first home buyers, owner-occupiers upgrading from nearby inner-city suburbs and investors, with younger owner-occupier couples aged between 28 and 45 accounting for the strongest enquiry. Many are already living in Southbank, South Melbourne, Albert Park, Port Melbourne, South Yarra and the CBD.

"Verdé is located in one of the most desirable pockets of southern Melbourne," Blair Property Group Director Darren Blair, who is managing sales at Verdé, said.

"It's within walking distance of the Arts Centre, Royal Botanic Gardens, Albert Park Lake, and Southbank's restaurants and retail. It's a great lifestyle location with strong amenity and liveability, which made it a very attractive choice for the project."

[smartcode_project:default project_id=4661 project_image_fid=372549]

Virgate was already familiar with the precinct, having previously delivered the successful Domain House development in neighbouring South Melbourne. That experience gave the developer confidence to acquire the Coventry Street site and continue expanding its presence in Melbourne's inner south.

"We had been keeping an eye on the site and the broader precinct for a few months before deciding to move forward with the acquisition," Virgate said.

The project was ultimately secured in 2020 following feasibility studies, planning assessments and due diligence, with the brief centred on delivering "a high-quality, considered design that feels both refined and fit for purpose."

[smartcode_project:default project_id=4661 project_image_fid=314259]

Designed by <a href="https://www.apartments.com.au/architects/bruce-henderson-architects">Bruce Henderson Architects</a>, Verdé comprises 173 one, two and three-bedroom apartments priced from $599,000. The architecture is distinguished by a faceted glass façade that responds to both the site's outlook and Melbourne's changing light conditions.

According to Bruce Henderson Architects, the coloured glazing gives the building a distinctive identity while also providing privacy and solar shading, with residences oriented to capture views across the bay, city skyline and surrounding parklands.

Inside, <a href="https://www.apartments.com.au/interior-designers/designoffice">DesignOffice</a> has created interiors focused on natural light, efficient planning and enduring materials. Apartments feature engineered oak flooring, natural stone benchtops, floor-to-ceiling glazing and SMEG appliances, while a restrained material palette aims to complement the expansive outlooks rather than compete with them.

[smartcode_project:default project_id=4661 project_image_fid=372550]

Resident amenity has also been designed around everyday functionality rather than occasional use. Facilities include a concierge-serviced lobby, residents' lounge with fireplace, library and co-working space, gym, terrace garden with barbecue facilities, ground-floor café, and package delivery management.

The project's location continues to be one of its strongest drawcards. Positioned on Coventry Street, Verdé sits within walking distance of the National Gallery of Victoria, Arts Centre Melbourne, Royal Botanic Gardens and Albert Park Lake, while Southbank's dining precinct, Sturt Street trams and the new ANZAC Station are all nearby. The surrounding education catchment also includes Melbourne Grammar, Melbourne Girls Grammar, Mac.Robertson Girls' High School and several major university campuses.

The sales team says buyers have responded particularly well to the combination of location, design quality and long-term liveability.

"They're responding really positively to the quality of the design, premium resident amenities and the uninterrupted views. Many also appreciate the location and how connected it is to everything they need."

The ability to secure stamp duty savings before completion has also been a key factor for purchasers, alongside the opportunity to personalise finishes ahead of settlement.

With construction set to commence soon and more than half the apartments already sold, Verdé enters its next phase as one of the Arts Precinct's more established apartment developments, offering remaining buyers an opportunity to secure a residence before construction advances further. Expected completion is scheduled for late 2027.

[smartcode_project_cta:default project_id=4661]

Virgate's Verdé Southbank moves toward construction as sales fly past halfway stage

Victoria

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Private investors are making themselves heard in Victoria’s industrial market with their market share of purchases jumping from 8% to 26% in just eight years, according to Savills Australia.
In the 12 months to June 2006, private investors’ purchases totaled $78 million, or 8%, while in the 12 months to June 2014 purchases totaled $278 million (of sales over $2 million) to 26%.
A compression in primary and secondary yields, now sitting at 7.25% to 8% and 8.75% to 10% respectively, was also noted.
Behind the surge is strong yields, low interest rates, and growing market confidence, which are driving a rise in private investment in Victorian industrial property.
Savills directors Ben Hegert and Chris Jones pointed to their latest deal where a New South Wales investor paid $5.7 million for a 20,661 square metre office and warehouse complex in Melbourne’s Tottenham as an example.
“From ten years ago when they accounted for less than 10% of the market private investors have matured as an investor class in both their approach to and involvement in a market which had been perhaps wrongly perceived as too complex,” said Jones.
“But that has all changed with the realisation that industrial property possesses some of the strongest property fundamentals, and when compared to residential, can offer better yields and more secure lease profiles, among other things,’’ he said.
The growth in industrial interest has also been due to the shift in e-tailing and subsequent growth of warehousing requirements, as well as SMSF allowances.
Meanwhile, Hegerty said that the industrial market has been tightly held in recent years due to a belief that there are few other assets in which to park cash safely.
“What we are seeing now is the market reaching a point where vendors are happier with economic conditions and what that means for investment generally,’’ Hegerty said.
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jduke-EHk3XBmHkn

Private investors' share of Victorian industrial market triples in eight years: Savills

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A former real estate agent, Afif Shaba, has been banned from holding a real estate licence for eight years due to his part in a $50,000 trust account fraud.
Shaba authorised his business, Northern Real Estate Pty Ltd, to fraudulently use $50,000 of trust account money that had been received between January and November 2012 for their own purposes, found the Victorian Civil and Administrative Tribunal.
VCAT found Shaba guilty of conduct that made him unfit to hold a licence.
Shaba was the sole director and officer in effective control. The funds used was tenants’ rent that was owing to the investors, and it was found he breached the Estate Agents Act 1980 by knowingly authorising the business not to retain the funds.
He had withdrawn the trust money to pay business expenses in March 2012. This was due to a downturn leaving him in financial difficulty, and saw Shaba admit this to Consumer Affairs Victoria inspectors.
At one point it was noted that there was a $50,000 deficiency in the trust fund, reduced to $15,000 when he was inspected in November 2012.
Shaba looked to pay back the missing funds, have his accounts audited, sell the business and stop operating as a real estate agent. His agency’s licence was cancelled in March 2013.
He will be eligible for a licence after 9 July 2022.
Edit: The above story has been amended. Details provided by Consumer Affairs Victoria included inaccurate references to agency details.
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Victorian agent banned for eight years after $50,000 trust account fraud

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An original, three-bedroom beach Anglesea shack has been sold for $1.51 million.
The property is on the ocean side of the Great Ocean Road at Anglesea.
The 46 Melba Parade property features the original, three-bedroom beach shack on a 929 square metre block.
It last sold at $235,000 in 1989.
The private sale was handled by Surf Coast Real Estate, Anglesea.
It was first listed in late 2011 with the asking price first revealed in late 2013 at $1,675,000.
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jchancellor-FAypfDUnLy

Anglesea shack sells for $1.51 million

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Victorian Planning Minister Matthew Guy has approved the rezoning of land outside Mildura, paving the way for a $174 million biomass power plant.
However, it might not mean that property prices will skyrocket in the town, which sits a six hour drive north-west of Melbourne.
Providing a rezoning approval for the multi-million dollar project, it was noted that land at <a href="/news">Carwarp</a> was given approval for the 35-megawatt power station with 18-kilometre electricity transmission line and substation.
“Transforming plant waste into a new source of power has numerous benefits for the region and our environment. Residents are likely to see lower power bills, farmers will have a new income stream and the local economy will be bolstered by new industry and jobs,” Guy said.
  “With an increasing focus on renewable energy, long-term planning for the region has identified this opportunity to expand on traditional regional industries to drive jobs and economic growth.
“As envisaged in the Loddon Mallee North Regional Growth Plan, the region is quickly becoming a centre for investment in sustainable energy production, such as solar and biofuels. This next stage will confirm the region’s reputation as a clean energy centre.”
The plant will create 26 new full time jobs and generate enough electricity to power 20,000 homes, according to Mildura MLA Peter Crisp.
Yet despite this, and a $3 million Regional Growth Fund government grant, it won’t necessarily see prices rise.
Hotspotting’s Terry Ryder told Property Observer that Mildura is classified as a “long shot”.
“Mildura often appears to be on the verge of a boom, but never quite gets there,” he explained.
“The Biomass proposal is just the latest in a long line of alternative energy projects proposed for the Mildura area. A number of solar power stations have been planned. But, like so many alternative power developments planned around Australia, they never seem to happen.”
He also noted that there’s more money being poured in, with a major rail upgrade, but if it goes ahead according to plan then investors shouldn’t expect to see it completed until 2018.
“Mildura has appeal because of its cheap prices and good rental yields, but the missing factor is capital growth. It needs some of these major proposals to happen to push the property market into a growth phase.”
At present, <a href="/news">Mildura's median house price sits at $230,000</a>, according to RP Data, offering a median weekly advertised rent of $265.
In 2012, along with Shepparton, it <a href="/expert-insights/investing/mildura-and-shepparton-most-affordable-regional-areas-in-australia-demographia">topped Demographia's list of Victoria's most affordable regional areas</a>.
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A $174 million economic boost for Mildura, but property boom further off

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The Victorian government is considering introducing minimum apartment sizes.
It may ban any new studio flats being smaller than 37 square metres.
The proposal under consideration by the Planning Minister Matthew Guy also mandates that 50 square metres would be the minimum for any new one bedroom unit.
A recent Melbourne City Council report shows some of Melbourne's newest developments are 10 times as dense as permitted by law in many other urbanised centres.
It suggested 40% of the city’s newest apartments are smaller than 50 square metres, satisfying only the needs of overseas investors at the expense of residents, according to the Melbourne City Council’s draft housing strategy.
Melbourne City Council's director of city design, Rob Adams even suggested the volume of apartment approvals and their density on city blocks meant Melbourne risked becoming like "Hong Kong without the spectacular setting".
Describing the developer trend to micro apartments of even as small as 18.5 square metres as ''rampant exploitation of renters,'' Michael Buxton, professor of environment and planning at RMIT University, recently noted apartments were shrinking in size with profit the primary motive.
“Five year ago the average size of an apartment was 60 square metres.
“Now its between 42 and 45 square metres and falling. ” he advised.
Tom Alves, a senior adviser at the Office of the Victorian Government Architect and chairman of the working group drafting the standards, told the Australian Financial Review the agency desire to improve the quality of apartments came after consultation with the City of ­Melbourne, local councils and lobby groups.
A reference group was chaired by Victorian government architect Geoffrey London.
Mr Guy said his department was considering the proposals for micro apartments.
“This review will include industry consultation and assessment of impacts on construction cost and ­housing supply,” he told the AFR.
Property professionals are invited to sign up for the <a href="/news">upcoming Property Observer webinar on Off the Plan Marketing and Sales Masterclass</a>.
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No more shoebox apartments? 37 square metre minimum size under Victorian government consideration

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Australand has reported a 49% rise in net profit and a 30% increase in operating profit after tax for the half-year.
Its residential division reported an increase in operating earnings.
The residential division achieved an operating EBIT result of $30.7 million for the half year up on the half year of $22.3 million. 
Aggregate sales revenue for the half year was $185.0 million (HY13: $191.8 million). 
Sales activity remains strong with the division holding 2,170 contracts on hand as at 30 June 2014 (13 December: 1,823 contracts on hand). 
Major projects contributing to the half year result included: 
<ul>
<li>
<a href="/news">Greenhills Beach</a> in NSW with 14 lots sold;
</li>
<li>
<a href="/news">Croydon</a> in VIC with 86 lots sold;
</li>
<li>
<a href="/news">Greenvale </a>in VIC with 74 lots sold;
</li>
<li>
<a href="/news">Clyde North</a> in VIC with 118 lots sold;
</li>
<li>
<a href="/news">Parkville </a>in VIC with 48 lots sold; and
</li>
<li>
Port Coogee in WA with 19 lots sold. 
</li>
</ul>
The Clyde North project is being marketed as <a href="https://residential.australand.com.au/land/vic/clyde-north/berwick-waters/#forsale" target="_blank">Berwick Waters</a> (pictured above) which is delivering homes within extensive wetlands and open spaces, along with shopping and community facilities complemented by additional schools
But despite the recent sales the developer’s overall revenue fell 15% according to its financial report for the half-year to 30 June.
Distributions per stapled security were 12.75 cents, up from 10.5 cents.
The group upgraded its earnings guidance in May noting if strength in the residential market is sustained, earnings per security were expected to grow 10-15% annually from 2014 until the end of 2016.
Australand is set to be taken over by Singaporean-listed Frasers Centrepoint Limited after Australian authorities approved the $2.6 billion deal earlier in July.
Property professionals are invited to sign up for <a href="/news">the upcoming Property Observer webinar on Off the Plan Marketing and Sales Masterclass</a>.
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Berwick Waters, Clyde North residential boosts Australand sales contracts

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A Sunbury man appeared in the Melbourne Magistrates Court after the Australian Securities and Investment Commission alleged that he fraudulently obtained more than $1 million from investors.
Barry John Patrick, a 71 year old from Sunbury, Victoria, allegedly obtained the money from 14 investors between 2007 and 2010, telling investors it was to be used to fund a property development.
The Australian Securities and Investment Commission (ASIC) allege that Patrick took some of the funds for personal use, and used some of the money to pay interest payments to past and existing investors and to make loan repayments. According to ASIC, investors were persuaded to refinance their self managed superannuation funds and homes, take out additional loans or use credit cards to pay Patrick.
Patrick has been charged with eight counts of obtaining property by deception, five counts of obtaining financial advantage by deception, one count or theft and one count of running a financial services business without an Australian financial services license.
The charges relate to the three-year period between 2007 and 2010, in which ASIC alleges Patrick formed companies to purchase properties for development and consequently persuaded investors to refinance their homes or self-managed super funds, or take out additional loans or credit cards.
“ASIC allege the funds raised by Mr Patrick were not used to develop the properties, instead, they were used to pay interest payments to past and existing investors and to meet repayments on loans as well as for personal use,” said the regulator.
But this is not the first time Patrick has fallen on the wrong side of the law.
In 2010, Patrick <a href="https://www.asic.gov.au/asic/asic.nsf/byheadline/10-257AD+Melbourne+director+sentenced?openDocument" target="_blank">received a four-month suspended jail sentence</a> and a five-year good behaviour bond after pleading guilty to one charge of carrying on a financial services business without holding an AFS license and three charges of managing a corporation while disqualified.
According to ASIC, during August 2003 and December 2006, Patrick persuaded 40 investors to invest in three companies: E.K.B Properties, Sandgrove Specialised Securities and Cardinia Specialised Securities.
During the time, E.K.B Properties raised approximately $4 million, Sandgrove Specialised Services raised approximately $1.5 million and Cardinia Specialised Services raised approximately $1 million.
<a href="https://www.moneymanagement.com.au/news/superannuation/2014/victorian-charged-with-smsf-property-fraud" target="_blank">According to Money Management</a>, ASIC alleged Patrick and his associate Karl Heinz Veljkovic were pushing investors to roll over their superannuation into self-managed funds and then invest those funds into the three companies.
However, the companies, which were controlled and managed by Patrick and Veljkovic, were placed into liquidation by the Federal Court in 2007 following investigations by ASIC. As of December 2010, ASIC said none of the investors had been repaid.
In 2007, both men consented to Federal Court orders banning them from carrying on a financial services business; parting with any funds that have come into their possession by issuing, selling or offering a financial product; and managing corporations for a period of 20 years.
Graeme Colley, director of technical and professional standards at the SMSF Professionals’ Association of Australia, said these kinds of cases arise from time to time, and are the result of a “failure of the independence between initial advice given to individuals and where the money ends up”.
Colley says cases like this don’t preclude investing your self-managed super fund in property, but says “the hotter it gets, the closer you are getting to the fire”.
As a general rule, Colley says investors should only consider advice from advisers with AFS licenses. This way, if something goes wrong, the investor potentially has some recourse against the licensee and can use formal complaints arrangements.
Colley says it is also important to do your own research and be as thorough as possible. “Make some investigations into who owns the business, the relationship between the adviser and the organisation, and if there are any other real investors,” says Colley.
Patrick is next due to appear in court on 16 September. He faces a maximum 10 years in jail for each of the deception and theft charges, and a maximum jail sentence of two years if found guilty of operating a financial services business without an AFS license.
Parts of this article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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jrichardson-uRX5hFdKfN

Melbourne property developer charged with $1 million fraud

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Myer family scion Richard Shelmerdine and his wife Trine have secured the rights to redevelop Victoria’s historic Point Nepean ­Quarantine Station.
They plan <a href="https://pointgroup.com.au" target="_blank">a $100 million tourism centre</a><a href="https://pointgroup.com.au" target="_blank"> development</a> within the site on the Mornington Peninsula, outside Melbourne.
The Shelmerdines’ Point Leisure Group plans to develop an upmarket hotel, ­function centre, health retreat, hot spring facility and museum.
<img src="/images/2014/07/21/point-napean-july-21-four.jpg" alt="">
<img src="/images/2014/07/21/point-napean-july-21-three.jpg" alt="">
The 17 hectare site was Victoria's quarantine ­station in 1852.
A marine education centre, a National Centre for Coasts and Climate, operated in conjunction with The University of Melbourne, is also planned amid the 50 buildings on site.
<img src="/images/2014/07/21/point-napean-july-21-five.jpg" alt="">
In 2008, Richard Shelmerdine secured another piece of peninsula history, The ­Sisters estate in Sorrento for around $18 million, later subdividing it for profit after applying to the Victorian Civil and Administrative Tribunal to slice it into five pieces.
It was the beach that was the site of Victoria's first European settlement in 1803, in private hands since 1890 and was previously owned by eccentric millionaire Peter Rand.
<img src="/images/2014/07/21/point-napean-july-21-one.jpg" alt="">
Richard Shelmerdine is a fourth-generation member of the Myer retailing clan, a family that have been locals at Portsea for more than 50 years.
Richard’s father, Peter Shelmerdine, was a councillor on the Mornington Peninsula. 
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Shelmerdine family secure Point Nepean Quarantine Station development project

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Lara West, in the northern area of Greater Geelong, has been rezoned to include a 62-acre, 650 lot, subdivision called Manzeene Village.
Planning Minister Matthew Guy said that it will make a link between central <a href="/news">Lara</a> and the Lara West growth area, being one of the most significant in Geelong with forecasts of accommodating 10,000 people.
Earlier this year, in February, a 390-hectare Lara West precinct was approved.
"Manzeene Village completes the planning picture for the Lara West growth front, which will feature an employment precinct, a large neighbourhood activity hub, three new schools, community services, sporting facilities and parkland that can be enjoyed by everyone in the region,” said Guy.
A local commercial area will be built, as well as 5,000 square metres of local parkland.
"Development at Lara West will be undertaken gradually over 30 years to help meet the needs of the projected 500,000 extra residents in the Greater Geelong region by 2050," he said.
New suburbs Lovely Banks and Batesford South are the next planned for Geelong’s north.
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Greater Geelong rezoning includes new Lara West subdivision

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Houses offered for private sale are selling faster this year than last year especially in middle and outer Melbourne suburbs. 
Two locations where the vendors were securing buyers much faster were the beachside suburbs of Mt Martha and Blairgowrie.
The <a href="https://www.reiv.com.au" target="_blank">REIV</a> chief Enzo Raimondo said there have also been significant falls in the number of days properties required before sale in other suburbs, from western bayside Williamstown to Narre Warren in the outer east. 
"There had been a particularly notable change on the Mornington Peninsula, made more accessible to Melbourne by the opening of Peninsula Link," Enzo Raimondo said.
"Three positions on the REIV's list of top 10 improvers were Peninsula suburbs: Mount Martha, Blairgowrie and Mount Eliza. 
"Properties there took between 46 and 38 days less to sell in the first six months of this year, compared to 2013.  
“While the focus this year has been on a stronger auction market, the table shows that the private sale market in a number of suburbs is also stronger this year,” Mr Raimondo said.  
He added that private sales have traditionally been popular in outer suburbs, offering familiarity to local buyers.
 “One of the features (of a private sale) is that it does not impose the time constraints – and immediate decision-making – that’s required at an auction,” he said.
<img src="/images/2014/07/16/table-jluy-16-one.jpg" alt="">
Source: REIV.
* Number of days on market for private sales (houses) 
** Difference (i.e. reduction) in number of days on market in 2014 compared to 2013.Slight differences can occur due to rounding.
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