Less than two years after breaking ground, Gardner Vaughan Group is celebrating the topping out of Bask, its second development in the exclusive coastal enclave of Bokarina on Queensland’s Sunshine Coast.&nbsp;

Located only minutes from the beachfront, the two seven-storey luxury apartment towers, known individually as Mydas and Caretta, offer a selection of one-to-four-bedroom residences with views of Lake Kawana, the Glasshouse Mountains, and Bokarina Beach.&nbsp;

[smartcode_project:default project_id=141609 project_image_fid=333359]

Gardner Vaughan Group Commercial Director Sam Gardner said the milestone marks the home stretch for construction, with first residents expected to be able to move in from Spring 2026.&nbsp;

“This is a significant milestone in bringing this development to life and represents our confidence in this region’s long-term growth and appeal,” Gardner said.&nbsp;

“With 85 per cent of apartments already sold, buyers are joining an established, coastal village that offers the very best of the Sunshine Coast – seasonally patrolled surf beaches, renowned restaurants, and links to established health and retail.&nbsp;

“The final collection of three- and four- bedroom apartments range in size from 127sqm to 300sqm, each with two or three secure car parks and storage, and with construction fast approaching completion we don’t expect the last few apartments to remain on the market for long.”&nbsp;

[smartcode_project:default project_id=141609 project_image_fid=333362]

Local restaurateur Luke Stringer, who co-owns and manages the award-winning Bocca Italian and Playa Mexican restaurants in Bokarina, has lived in the beachside suburb for 18 months and worked there for more than three years, and said the beachside suburb was thriving.&nbsp;

“It’s fair to say Bokarina is finally stepping into the sun and there’s a lot to love about the place,"&nbsp;Stringer said.

"It’s such a great community, where you see the same smiling faces every morning and everything’s within easy reach – it’s the perfect hub in the middle of the Sunshine Coast.

“When we first opened Bocca Italian, we were the lone restaurant, but it’s been amazing to see how the area has grown. The more venues that open, the busier it gets for everyone. When Playa Mexican opened its first Saturday night, Bocca had a record night and Playa was packed too, which blew us away how everyone is thriving.&nbsp;

“There’s a great energy around the place now, and people are really embracing Bokarina as a food and lifestyle destination.”&nbsp;

[smartcode_project:default project_id=141609 project_image_fid=363368]

Stringer joined other buyers at Bask Bokarina and the Gardner Vaughan Group team to celebrate the topping out at a special event in February.&nbsp;

Located in Kawana Waters, midway between Caloundra and Maroochydore, Bokarina locals enjoy scenic walking paths around Lake Kawana, playgrounds, beachfront boardwalk and parklands, alongside all the convenience of a masterplanned beachside community.&nbsp;

“You see people jogging or swimming in the morning, then grabbing coffee at the cafes, people are really embracing the area and all this growth is bringing more people to Bokarina,” Stringer added.&nbsp;

To take advantage of the vistas, each of the 135 apartments at Bask is designed with full size windows and high ceilings that provide an abundance of natural light.&nbsp;

Prices for the remaining three-bedroom apartments start at $1,599,000 and four-bedroom apartments start at $3,149,000.&nbsp;

[smartcode_project:default project_id=141609 project_image_fid=363369]

The mixed-use development also features ground-level retail space for cafés, dining options and boutiques, including the soon-to-be-opened ‘Corner Shop’, by the team behind Noosa’s well known ‘Organika’.

Sam Gardner said Gardner Vaughan Group’s 37-year history building and developing across South East Queensland has contributed to the success of its second development in Bokarina, which follows the recently completed Zinc Apartments.&nbsp;

“We care how people live and this is reflected in the way we approach the design and delivery of every development,” he said. “Furthermore, as a builder-developer we have full control over the construction program and our 100 per cent completion rate is something people can draw confidence from.”&nbsp;

Founded by civil engineers Guy Gardner and Darryl Vaughan in 1989, the family-owned business has evolved from a consultancy firm to an award-winning builder-developer, with projects across the Sunshine Coast, Moreton Bay, Brisbane and the Gold Coast.

[smartcode_project_cta:default project_id=141609]

Joel Robinson

Gardner Vaughan Group tops out Bask Bokarina apartments

Prolific Melbourne developer <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> has launched its fourth new Gold Coast development in as many years.

<a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a>, led by Daniel Faigen and backed by Eddie Hirsch, co-founder of United Petroleum, has unveiled The Eveleigh, on a prime 1,100 sqm site at 7-9 Surf Parade in the heart of Broadbeach.

<a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a> will deliver 100 apartments across 31 levels, making it the company’s largest Gold Coast project to date. It builds on the success of its three earlier developments, <a href="https://www.apartments.com.au/buildings/hemingway-1267-1273-gold-coast-highway-palm-beach">The Hemingway in Palm Beach</a> and <a href="https://www.apartments.com.au/buildings/emerson-kirra-100-musgrave-street-coolangatta">The Emerson at Kirra</a>, both completed, and <a href="https://www.apartments.com.au/new-apartments/yves-mermaid-beach-7-9-mermaid-avenue-mermaid-beach">Yves Mermaid Beach</a>, which is nearing completion.

[smartcode_project:default project_id=149670 project_image_fid=360966]

The announcement of The Eveleigh affirms the company’s sustained confidence in the Gold Coast market which continues to remain undersupplied. It also increases the value of Hirsch &amp; Fa​igen’s Gold Coast development portfolio to more than $700 million since the company first entered the market in 2021 with Hemingway.

The company has enlisted its preferred architecture firm Rothelowman to design The Eveleigh, which will offer a thoughtfully curated lifestyle, including a substantial wellness precinct, communal recreation areas, children’s play spaces, work-from-home facilities, and shared lounge and dining areas.

[smartcode_project:default project_id=149670 project_image_fid=360965]

Designed for the prime market demographic of downsizers and interstate lifestyle investors in mind, The Eveleigh has been crafted to offer an increasingly rare blend of affordable luxury in a tightly held market. Uniquely positioned in the heart of the Gold Coast’s most sought-after lifestyle suburb of Broadbeach, the project will also boast uninterrupted beach and hinterland views.

The Surf Parade site is just a short walk to the bustling Broadbeach dining and retail precinct, Pacific Fair, The Star Gold Coast and convention centre, and an easy stroll to Kurrawa Beach and the recreational amenity of Pratten Park on the Broadbeach foreshore.

[smartcode_project:default project_id=149670 project_image_fid=360975]

“We’re excited to be proceeding with our fourth project on the Gold Coast in what is certain to become the new luxury precinct in Broadbeach,” says Anthony Bueti, the CFO of Hirsch &amp;a​mp; Faigen and a shareholder of the group.

“With the likes of Mosa​ic and Abedian &amp;a​mp; Co also launching quality projects in the area, the transformation will cement Broadbeach as the premier lifestyle and amenity suburb on the Gold Coast.

"After four years in the Gold Coast market, and with three successful projects completed, The Eveleigh is the product of everything we have learned to love about the Gold Coast and it will be an incredible addition to our growing portfolio in one of the most vibrant property markets in the country. We continue to remain very confident in the high-end Gold Coast property market.”

Urban Activation Director Matt George is handling sales for The Eveleigh, having sold out The Emerson, The Hemingway, and Yves, all before construction was completed.

Melbourne builder MAXCON has already commenced construction on The Eveleigh. They are forecasting a mid-2028 completion.

[smartcode_project_cta:default project_id=149670]

Hirsch & Faigen unveils The Eveleigh in Broadbeach

Two years after securing development approval for the final stage of its award-winning Thornton Precinct on the doorstep of Penrith Station, Urban Property Group is set to launch <a href="https://www.apartments.com.au/new-apartments/mayfair-on-penrith-172-lord-sheffield-circuit-penrith-nsw-2750">Mayfair on Penrith</a>, around 400 apartments designed to reflect two of Sydney’s most iconic structures.

The builder-developer has continued refining the design plans for the two-building development on a significant 8,280 sqm site on Sheffield Circuit, recognising the importance of the prime parcel as one of the closest developable sites to the station.

UPG enlisted architecture firm SJB to design the project. The team said they drew inspiration from both the General Post Office in Martin Place and East Circular Quay to help shape the design. The two-level colonnade, in particular, reflects the famous GPO building, which dates back to the 1860s.

[smartcode_project:default project_id=136726 project_image_fid=362014]

There will be one-, two-, and three-bedroom apartments on offer, with interiors by Cox Architecture. Residences will sit above a retail podium featuring hospitality and lifestyle operators such as One Playground and Volcano’s Steakhouse, contributing to an activated ground plane within the broader Thornton precinct.

A communal rooftop with a pool and views towards the Blue Mountains will provide shared open space for residents. The development is positioned between Ron Mulock Oval and Westfield Penrith, with the Nepean River and Great River Walk also nearby, placing daily amenity and green space within walking distance.

&nbsp;

[smartcode_project:default project_id=136726 project_image_fid=362015]

Mayfair is being delivered by Urban Property Group, a family-owned developer and builder with nearly 40 years’ experience across Sydney. The project will be the first in Penrith to be offered with Resilience Insurance’s 10-year Latent Defects Insurance (LDI) policy, which Urban Property Group has adopted across a number of its recent developments. The developer also has a 4.5-star iCIRT rating, one of the best ratings in market providing further confidence to buyers.

Urban Property Group CEO Patrick Elias said providing additional assurance to off-the-plan buyers has become increasingly important.

“Anything we can do to give confidence in our product is a plus,” Elias told Apartments.com.au.

“Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. They’re making their single large investment, which is their home, and providing confidence is something that we feel is paramount.”

[smartcode_project:default project_id=136726 project_image_fid=362020]

The LDI policy provides a 10-year warranty covering structural defects, with independent inspections carried out during construction and protection for owners if defects arise post-completion.

Mayfair represents Urban Property Group’s sixth and final development within Thornton, consolidating the masterplanned precinct immediately east of the station.

The developer, which builds its own projects, has already commenced construction. SRM Residential is handling the sales campaign.

[smartcode_project_cta:default project_id=136726]

Urban Property Group to close the curtain on award-winning Thornton precinct with Mayfair on Penrith release

Investor appetite for Queenstown apartments is strengthening as supply constraints and four-season tourism continue to underpin demand across the alpine region.

In Frankton’s masterplanned Remarkables Park precinct,&nbsp;<a href="https://www.apartments.com.au/developers/safari-group">Safari Group</a>’s 141-apartment Mountain Oak development is attracting repeat and yield-focused buyers seeking exposure to that market dynamic.

Brandon, who specifically targeted Queenstown as an investment location, said the combination of price point and limited new supply made Mountain Oak stand out.

“It is a quality product in a location that struggles to densify,” he said, referencing Queenstown’s land-locked geography and development limitations.

<img alt="From slopes to markets: Mountain Oak connects residents to the best of Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/658d4f_48c3ec1ae5df4a2cab7d23c07c7f51b3~mv2.jpg?VersionId=27K8oQ4ExDN8Yu70VHDa9Olq59XU36m3" />

Having spent significant time in the region, Brandon pointed to its global reputation and consistent visitation as key fundamentals.

“Queenstown is a known destination from people all over the world. The place is land locked and there are issues building there. It’s also busy all year round.”

That four-season economy, driven by skiing and snowboarding in winter and hiking, cycling and water-based tourism in summer, was also central to Sherry’s decision to invest.

“I believe the four-season tourism has major appeal as it would ensure that the property will not remain empty, unlike other areas in NZ,” she said.

<img alt="From slopes to markets: Mountain Oak connects residents to the best of Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/313_Living_WEB.jpg?VersionId=3LglY20Jp_MAzQYdvwODRWvtjL.cZcqI" />

Mountain Oak has been structured to respond to that sustained demand, with 365-day visitor accommodation consent underpinning a mix of one-bedroom, flexi, two-bedroom and dual-key configurations that can operate as either short-term visitor accommodation or long-term rental housing. Dual-key apartments comprise two self-contained residences on one title, allowing owners to generate dual income streams or occupy one side while leasing the other.&nbsp;

Under Safari Group’s optional visitor accommodation management model, owners receive 60 per cent of the annual income generated by their apartment, with 24/7 on-site management, guest services and listing exposure included. Independent appraisal modelling suggests gross yields of up to 15 per cent for certain two-bedroom configurations, based on estimated nightly rates and occupancy assumptions.

For Brandon, that flexibility aligned with his broader investment strategy.

“It helps to know that I can have it managed either way,” he said. “My focus is on purchasing high yield cashflow properties.”

<img alt="Investors back Safari Group’s Mountain Oak Apartments as Queenstown’s four-season economy drives demand" data-entity-type="file" data-entity-uuid="c786ba7f-f974-4ce3-9833-1bcd9f2938d6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/658d4f_ae3c049f388f4c13bf801649d91cbb4a~mv2%20%281%29.jpg?VersionId=J25uvzGdvtFaXGzuwz28ewJ9wWzbtvur" />

He selected a one-bedroom flexi configuration, citing both yield and adaptability.

“I work remotely and can travel to most places and work. I enjoy making spaces that work for the lifestyle that I live and it seems that others also enjoy it.”

Ranging from 54 to 57 square metres, the one-bedroom flexi incorporates a separate multipurpose room suited to a home office, additional storage, or accommodation for ski gear and seasonal equipment, an increasingly relevant inclusion for buyers balancing remote work and alpine travel.

Interiors feature underfloor heating in bathrooms and a heat pump in the main living area, supporting year-round comfort. Upper-level apartments are positioned to maximise natural light, with sliding windows and balustrades in select residences enhancing outlook and ventilation. Units are available in both light and dark interior schemes.

<img alt="Investors back Safari Group’s Mountain Oak Apartments as Queenstown’s four-season economy drives demand" data-entity-type="file" data-entity-uuid="8f9492e9-8ee0-4aae-856c-8996ed9d9a06" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/658d4f_7d066f5200024c1aa472d01e2dc776ed~mv2.jpg?VersionId=MLR5xn6fLqPdBi7vxyRT.1zhQX3Ln0Ev" />

Sherry, a repeat Safari Group buyer, said her previous experience with the developer provided confidence to secure another apartment.

“Their developments have always finished on time, the quality has been high, and I didn't feel that my investment may be at risk,” she said. “Knowledge of the developer and our two existing Safari apartments gave us the confidence to proceed with this one.”

Safari Group has delivered more than 2,000 hotel units and residential apartments nationally and is now undertaking its fifth Queenstown development, reinforcing buyer confidence in delivery capability.

Although Sherry was not initially targeting Queenstown due to its price profile, prior visits reshaped her view of the market.

“I absolutely love this region and believe it is a major tourist attraction, which led me to the decision to invest.”

<img alt="How Mountain Oak Apartments draws holiday home buyers to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Ext_Cam15_Sunny.jpg?VersionId=SJAROUM_1s.Tr5ciMk4EEj5oAt_Vewmv" />

Construction commenced in June 2025, with completion anticipated by mid-2027. Apartments are priced from NZ$639,000, and the development carries Overseas Investment Office exemption approval, allowing non-residents to purchase.

For both investors, the purchase represents a balance of income generation and long-term portfolio positioning in a tightly held alpine market.

“I firmly believe my investments in Safari developments are a combination of all these elements,” Sherry said. “The location of this project enabled me to diversify.”

As Queenstown continues to attract year-round visitation alongside constrained housing supply, Mountain Oak’s dual-key flexibility, optional on-site management structure and established developer track record are resonating with investors seeking exposure to the region’s resilient tourism economy.

Investors back Safari Group’s Mountain Oak Apartments as Queenstown’s four-season economy drives demand

The Minns Labor Government is today unveiling a game-changing new precinct at Bays West – delivering up to 8,500 well-located homes, including a minimum of 10 per cent affordable and essential worker homes - directly above the new Bays West Metro Station currently under construction.

The landmark transformation will convert underutilised government-owned port land on the Harbour into Sydney’s newest suburb, while retaining important deep-water port facilities to support Sydney’s working harbour.

Located just minutes from the Sydney CBD and connected to a world-class metro, ferry, walking and cycling links, the Bays West precinct will rebalance housing growth towards well-serviced inner-city locations and help tackle the state’s housing crisis.

<img alt="Bays West" data-entity-type="file" data-entity-uuid="c5f01d10-0b6b-49de-8033-d3ef2728cb6d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-03-04%20at%204.06.12%E2%80%AFPM.png?VersionId=UA6_r._1jYROJ5tFNXMHqjNYLKYWIN.Y" />

Affordable housing will be embedded from the outset, including dedicated homes for essential workers such as nurses, teachers, paramedics, firefighters and police so they can live closer to the communities they serve.

The precinct will combine new housing with public open space, opening public access to the waterfront for the first time in more than 100 years.

Night-time entertainment and creative industries will be anchored by the revitalisation of the historic White Bay Power Station as a cultural and community destination, connected to the harbour across a new expansive public forecourt.

Planning of the area will prioritise connectivity, including active transport links to neighbouring communities such as Rozelle, Balmain and Glebe, improved pedestrian access to the waterfront, and connections to the CBD, including an active transport link across the Glebe Island Bridge.

The Government will lead a master planning process that will include an international design competition to guide development across the precinct, ensuring homes, essential infrastructure, jobs, public spaces and transport links are delivered together.

It will be led by a new delivery agency to be established over the coming weeks, which will report to Minister Kamper who already has oversight of major precinct renewal projects including at Blackwattle Bay and Barangaroo. Once established, the publicly owned land in the precinct will be transferred to the new agency.

This is the first new suburb that has been built in inner Sydney in decades, it will see homes built alongside the Bays West Metro Station ensuring young people, families and downsizers are only minutes away from the CBD. As part of the transformation of the Bays West precinct, bulk port operations – including cement, gypsum and sugar handling – will cease on Glebe Island by no later than 2030.

<img alt="Glebe" data-entity-type="file" data-entity-uuid="46ef3c23-2ce1-4912-b8ba-5247de19d7b9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-03-04%20at%204.02.15%E2%80%AFPM.png?VersionId=I5xKa7hLNlsueMsltA2dsYrRYtZCKvZz" />

The Government will work closely with industry to minimise impacts and ensure the continuity of supply. This includes a commitment of $270 million to improve road connections around the port at Port Kembla and to investigate increased rail freight capacity.

Working harbour operations across the precinct will be consolidated, mostly into White Bay, ensuring the precinct will continue to provide critical services for the harbour, including boat maintenance and marine construction and as a base for tug boats and for emergency services.

A new staging area will be established in White Bay, securing the future of the New Year’s Eve fireworks, Vivid and other major events for decades to come.

<img alt="Glebe island" data-entity-type="file" data-entity-uuid="0554b153-b225-445b-a633-75aecea7dec9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-03-04%20at%204.06.17%E2%80%AFPM.png?VersionId=P45ABy8KLuwjzVf04APWfeC4aOMA1Ngx" />

The cruise terminal will be retained in its current location, meaning tourists arriving in Sydney will be welcomed by the new precinct, with new shore-power facilities currently being installed that will reduce noise and emissions. The Sydney Heritage Fleet will also be offered new premises in White Bay.

Deep-water berths will be retained to preserve Sydney Harbour’s strategic operational capability, and the removal of the existing 1970s industrial silos, currently used as a billboard, as well as to store cement and sugar, will unlock new opportunities for public space and future housing.

“Right above a new metro station and minutes from the CBD, we’re delivering thousands of homes where people actually need them - close to work, close to services and close to transport,"&nbsp;Premier of New South Wales Chris Minns said.

“Importantly, this precinct will include affordable and essential worker housing from day one, so nurses, teachers, paramedics and police can live closer to the communities they serve.

“We understand that not everyone will welcome change, but cities don’t stand still. If Sydney is going to remain a place young people and families can afford to live in, we have to use well-located land better and plan for the future.”

Glebe Island to accomodate 8,500 new homes near new Bays Metro Station

Westfield

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The latest addition to Swarovski's 2,500 stores worldwide is its newly refurbished Westfield Knox store.
Located at Shop 2031, 425 Burwood Highway, Wantirna South, the store employs the latest from Swarovski's ‘Crystal Forest’ store concept.
Robert Buchbauer, of the Executive Board said "Swarovski looks forward to welcoming shoppers into the sparkling new Crystal Forest store from Thursday the 6th of September 2018, where from 9am where shoppers will receive 20% off when 3 or more items of full priced jewellery, watches and accessories (excluding Swarovski Remix Collection) are purchased between the 6th and the 9th of September.
The first 30 customers will also receive a special bag on opening day. 
The Swarovski Crystal Business is run by the fifth generation of family members, has a global reach with stores in around 170 countries and more than 27,000 employees.
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j.ballantyne1990-6AQqhLzZaK

Swarovksi relaunches their Knox City store in Knox Westfield 

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Parramatta is rapidly boosting its credentials as the economic and social hub of Western Sydney, with another very large commercial tower likely to join its ranks.

Scentre Group, the owner-operator of $35 billion-worth of Westfields in Australia and New Zealand, has lodged a development application amendment to alter a previous approval dating back to 2014. That scheme allowed for additional retail shopping floor at Parramatta Westfield and a 120 metre commercial tower to be constructed at the corner of Church &amp; Argyle Streets.

The fresh amendment seeks to move the commercial tower component of the project 80 metres west along Argyle Street, allowing for a significant increase in its size and improved integration with its immediate environs.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/image44a.jpg" rel="gallery-all" title="Westfield Tower as envisaged by Woods Bagot"><img alt="" class="image-article-full-width-580px" height="804" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/image44a.jpg?itok=xX4ms39M" title="Westfield Tower as envisaged by Woods Bagot" width="580"></a>

<figcaption>Westfield Tower as envisaged by Woods Bagot</figcaption></figure>The new tower is proposed to reach 210 metres and accommodate 41 levels of premium-grade campus-style office space, offering market competitive flexible rectilinear floor plates of slightly more than 3,000 square metres per floor.

With an overall Net Lettable Area of 112,000 square metres, it will be one of the largest commercial office buildings in Australia. The tower is similar in size to Barangaroo’s International Tower 1, which is the current holder of the title.

Such is the scale of development in Parramatta that Westfield's proposal will play second fiddle to nearby <a href="https://www.parramattasquare.net.au/commercial/">6-8 Parramatta Square</a>, which will offer a still larger 125,000 square metres of premium-grade floor space upon completion in 2021.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public//pictures/article-images/parramatta-square-skyline-day_-_jpw.jpg" rel="gallery-all" title="Johnson Pilton Walker's 6-8 Parramatta Square will offer comparable floor plates to Westfield Tower"><img alt="" class="image-article-full-width-580px" height="773" src="/sites/urban.melbourne/files//styles/article_full_width_580px/public/pictures/article-images/parramatta-square-skyline-day_-_jpw.jpg?itok=30-ke-Ji" title="Johnson Pilton Walker's 6-8 Parramatta Square will offer comparable floor plates to Westfield Tower" width="580"></a>

<figcaption>Johnson Pilton Walker's 6-8 Parramatta Square will offer comparable floor plates to Westfield Tower</figcaption></figure>Westfield Tower's proposed new location on Argyle Street would activate a currently neglected pocket of Parramatta's CBD, drawing in a continuous stream of office workers and visitors accessing both the commercial tower and Westfield itself. 

The tower lobby will be integrated into the streetscape, offering street-facing retail and cafe/restaurant premises, helping general activation.

Retail space will also be provided on the sixth floor of the development. Office workers and shoppers alike will  be able to utilise a ‘social garden’ which sits between the lobby and the sixth-floor retail precinct. 

The relocated tower would also disrupt fewer retail tenancies during construction. According to documents, the new location allows the structural supports for the tower to punch cleanly through a slice of the Myer multi-storey retail tenancy, with a negotiated use of their retail floors during construction, allowing Myer to continue trading uninterrupted.

Woods Bagot are responsible for the design of the premium-grade building which will target a five-star Green Star rating.
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ModernBradfield

Parramatta bulks up with another Barangaroo-sized commercial tower proposal

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Unibail-Rodamco has completed the acquisition of Westfield.
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Unibail-Rodamco-Westfield combines two of the strongest and most respected names in the real estate industry to build on their legacies.
With a portfolio valued at €62 billion, of which 88 percent is in retail, seven percent in offices and six percent in convention and exhibition venues.
Unibail-Rodamco-Westfield owns and operates 102 shopping centres in 13 countries, of which 56 are flagships in the most dynamic cities in Europe and in the United States.
Its centres welcome 1.2 billion visits per year.
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The $32 billion takeover of Frank Lowy's retail landlord giant Westfield only ever faced mooted opposition.
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Under the headline, Macquarie Capital buddies up to Unibail-Rodamco, the Australian Financial Review fleetingly noted that Macquarie Capital was the latest investment bank to pick up consultancy fees in Australia's biggest ever takeover.
After Unibail-Rodamco's $32 billion cash and scrip bid for Westfield Group, sources told the AFR's Street Talk said the Paris-headquartered Unibail "hauled in" Macquarie's bankers to help with elements of the "deal execution", helping Unibail manage its foreign currency risk. 
Macquarie was the latest in a long list of banks to secure a place on Unibail's side of the deal ticket. 
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<div>Goldman Sachs and Deutsche Bank were first there, while others involved include Morgan Stanley, JPMorgan and Bank of America Merrill Lynch.</div>
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<div>All up advisory fees on the deal topped $US100 million. </div>
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<div>
A byproduct of Macquarie's role was that its real estate research analysts, spearheaded by Rob Freeman, were placed on restriction effective mid-takeover consideration. 
Macquarie Equity's team equities research team was one of the few that initially did not hold back. 
Macquarie noted while the transaction had strategic merit, but needed financial merit.
"We do not believe the current terms are compelling enough for WFD unitholders," it fleetingly suggested before the clamp came. 
</div>
<div>But no higher offer ever emerged.</div>
<div> </div>
<div>The transaction had been unanimously recommended by Westfield's board as well as Unibail-Rodamco's management board and supervisory board</div>
<div> </div>
<div>Under the terms of the offer, Westfield shareholders will receive 0.01844 Unibail shares and $US2.67 for every Westfield security they hold. 
<div>
Unibail initial terms were handing over cash worth $US5.6 billion to Westfield securityholders, as well as 38.7 million of its own shares. 
Taking into account exchange rates and share price movements, the pocketed offer was less than the $10.01 when the deal was announced in December. 
</div>
</div>
</div>
</div>
</div>
</div>
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Unibail-Rodamco completes the acquisition of Westfield

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Westfield Corp shareholders have voted in favour of a $16 billion takeover by Unibail-Rodamco.
The approval was the final hurdle for the takeover.
It has already received the green signal from Unibail shareholders, boards of both companies, as well as Australia’s Foreign Investment Review Board.
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Westfield shareholders approve Unibail-Rodamco deal

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Louise Grimmer, University of Tasmania and Matthew Bailey, Macquarie University.
The sale of Westfield to the French property firm Unibail-Rodamco draws to a close (with a <a href="https://www.propertyobserver.com.au/http://www.abc.net.au/news/2017-12-12/westfield-lowy-family-sells-empire-for-32-billion/9250776" target="_blank">A$32 billion reward</a>) one of Australia’s greatest business success stories. But it also shows where Australian retail could be headed next.
Westfield has been at the heart of Australian retail innovation and development since Frank Lowy and Jeno Schwarcz (later John Saunders) formed a partnership in the mid-1950s. Both holocaust survivors, they arrived in Australia with next to nothing and built an empire.
 
The early history of the firm is covered in Jill Margo’s <a href="http://www.harpercollins.com.au/9780732269074/" target="_blank">biography</a> of Lowy and Westfield’s own <a href="https://www.propertyobserver.com.au/https://catalogue.nla.gov.au/Record/1980510" target="_blank">company history</a>. After operating a delicatessen in Blacktown in Sydney’s Western suburbs, the pair moved into residential and then retail property development, opening a small “American style” shopping centre in Blacktown, on July 2, 1959.
Westfield Place was one of the first shopping centres to open in Australia and was reflective of transformative changes occurring in retail at the time. Rapid growth in <a href="http://www.abs.gov.au/AUSSTATS/abs@.nsf/Lookup/4102.0Main+Features40July+2013" target="_blank">car ownership</a>, and support for home ownership by both sides of politics brought a massive demographic shift as Australians <a href="http://splash.abc.net.au/home#!/media/153826/home-sweet-home-the-australian-dream-" target="_blank">flocked to the suburbs</a>.
This upended <a href="https://theconversation.com/history-says-department-stores-will-struggle-in-the-future-85527" target="_blank">established retail geographies</a>. City department stores had to open <a href="http://www.tandfonline.com/doi/abs/10.1080/14490854.2014.11668500" target="_blank">suburban branches</a> to survive. At the same time, Coles and Woolworths, which began as variety store chains, were moving into food retailing by buying up traditional grocery chains.
These retail firms required sites in the suburbs big enough to house modern stores. They also needed space for parking. In America, similar trends had seen the emergence of a new retail form, <a href="http://www.acrwebsite.org/search/view-conference-proceedings.aspx?Id=7196" target="_blank">the shopping centre</a>.
<h2>The rise of the shopping centre</h2>
<a href="http://www.scca.org.au/industry-information/australian-shopping-centre-industry/" target="_blank">Shopping centres</a> solved the problem of traffic congestion that was beginning to plague suburban high streets and offered a social space for people to congregate. These centres also provided a curated mix of shops that could be shaped to meet market needs, and facilitated the expansion of retail chains. Air conditioning added to their appeal.
Westfield was but one of numerous small developers seizing opportunities in a rapidly changing market. But from very early on the firm had higher ambitions.
By retaining the centres it built in an investment portfolio, Westfield obtained cash flow, security for finance, and assets that could be upgraded through expansion and redevelopment.
The other major early developers were retailers themselves. Department store firms like Myer, Grace Bros, Boans and David Jones <a href="https://theconversation.com/history-says-department-stores-will-struggle-in-the-future-85527" target="_blank">played an important role</a> in establishing large-scale shopping centres in Australia, and the supermarkets were also heavily involved in development. Over time, though, specialist developers, managers and landlords like Westfield and Lend Lease became the dominant players.
These firms proved highly adept at incorporating new retail models and entertainment formats into shopping centres: discount department stores <a href="http://onlinelibrary.wiley.com/doi/10.1111/aehr.12107/abstract" target="_blank">in the 1970s</a>; food courts and <a href="https://www.cambridge.org/core/journals/urban-history/article/shopping-for-entertainment-malls-and-multiplexes-in-sydney-australia/469F326CB6286E1A978FD4C0BA4DB40E" target="_blank">cinemas</a> in the late-1980s; <a href="https://www.sciencedirect.com/science/article/pii/S0024630197000757" target="_blank">category killers</a> in the 1990s; the recent shift to include more <a href="http://www.smh.com.au/business/retail/shopping-centres-bank-on-coffee-and-salons-amid-retail-slump-20170815-gxws0g" target="_blank">services and restaurants</a>.
Retail, though, is about access to goods. Shopping centres were an innovation in the middle of the last century that proved superior to other forms of distribution. Online retailing is proving similarly disruptive.
<h2>Where to from here for shopping centres?</h2>
The growth of online shopping means that many physical retailers as well as consumers, are no longer solely dependent on shopping centres and malls. This has resulted in the closure of many of the traditional anchor stores in large shopping centres.
Most obviously, department stores are suffering a <a href="http://www.smh.com.au/business/retail/department-stores-face-uncertain-future-as-sales-seen-shrinking-over-coming-years-20170301-gunxmh" target="_blank">prolonged and rather painful decline</a>. In response, <a href="https://www.insideretail.com.au/blog/2016/11/03/david-jones-boutique-offering-open-for-business/" target="_blank">David Jones</a> and UK retailer Debenhams are rethinking their store format strategy and opening smaller, more carefully curated boutique stores in affluent suburbs. Touted as the <a href="http://www.afr.com/business/retail/debenhams-unveils-the-future-for-australian-department-stores-20171012-gyzdgd" target="_blank">future of Australian retailing</a>, these smaller formats do not rely on being located in shopping malls.
Clearly, shopping centres cannot compete with the huge product range and convenience of online shopping. But these centres are well-positioned to appeal to consumers by offering experiences and services that cannot be replicated online.
In the future we will see much more effort devoted to <a href="https://theconversation.com/how-shopping-centres-are-changing-to-fight-online-shopping-80056" target="_blank">attracting shoppers to malls</a> through a mix of leisure and entertainment options.
Australian centres will increasingly replicate malls in the UK, USA, Asia and Latin America. In addition to the various up-scale dining options and cinema complexes that are already part of Australian centres, many international malls feature concert venues, fitness clubs and day spas, art centres, galleries and even farmers markets.
<hr>
Read more: <a href="https://theconversation.com/why-retailers-want-you-to-click-and-collect-83094" target="_blank">Why retailers want you to ‘click and collect’</a>
<hr>
Shopping centres are also trying to attract families to visit and spend more time in centres. To encourage this they are installing infrastructure and activities designed to appeal to parents and children such as the huge <a href="https://melbourne.legolanddiscoverycentre.com.au/" target="_blank">Legoland amusement park</a> housed in the Chadstone Shopping Centre in Melbourne.
Some malls are also attempting to recreate a <a href="http://www.news.com.au/finance/business/retail/shopping-centres-turn-to-village-life-as-retailers-feel-pinch/news-story/7b895c819d14bf478ab7db1b0747b607" target="_blank">village feel</a> through moving away from just shopping to using the public space in their centres, focusing on community activities such as libraries.
Although Australian centres will still continue to try and attract anchor tenants to drive foot traffic, we will see much more emphasis on new modes of retailing including <a href="https://www.commercialrealestate.com.au/news/pop-up-shops-theres-no-stopping-australias-latest-retail-boom/" target="_blank">pop up stores</a>, more small and independent stores as well as kiosks to increase the diversity of the offering and give customers more reasons to visit the mall. Westfield even <a href="http://www.westfieldpopup.com.au/" target="_blank">changed the name</a> of its casual leasing division to “pop-up department” to appeal to a new cohort of retailers and shoppers.
To address the digital disruption that is impacting on traditional retail, malls and centres will harness technology to assist shoppers during their visit. This will include <a href="https://www.insideretail.com.au/blog/2016/10/19/stockland-centres-smart-parking-system/" target="_blank">sensor technology for parking cars</a>, <a href="https://theblog.adobe.com/a-digital-shopping-experience-coming-soon-to-a-mall-near-you/" target="_blank">augmented reality for guiding shoppers</a> through centres and locating stores and <a href="https://www.cnbc.com/2017/11/23/facial-recognition-is-tracking-customers-as-they-shop-in-stores-tech-company-says">face recognition technology</a> for providing customised offers and promotions as part of the shopping mall experience.
They key to future success for shopping centres will be in offering shoppers unique services and experiences that give them a reason to get off the internet and back into the mall.
<img src="https://counter.theconversation.com/content/89073/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">There are few Australians alive with a better understanding of retail that Frank, Peter and Steven Lowy. The fact that they are moving out of physical store development to invest in <a href="https://www.onemarketnetwork.com/" target="_blank">innovative retail technology and big data</a> should be of significant interest to those pondering the future direction of retail in this country.
<a href="https://theconversation.com/profiles/louise-grimmer-212082" target="_blank">Louise Grimmer</a>, Lecturer in Marketing, <a href="http://theconversation.com/institutions/university-of-tasmania-888" target="_blank">University of Tasmania</a> and <a href="https://theconversation.com/profiles/matthew-bailey-414427" target="_blank">Matthew Bailey</a>, Lecturer, Retail History, <a href="http://theconversation.com/institutions/macquarie-university-1174" target="_blank">Macquarie University</a>
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/westfields-history-tracks-the-rise-of-the-australian-shopping-centre-and-shows-whats-to-come-89073" target="_blank">original article</a>.
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jrobinson-rf4aSBido9

Westfield's history tracks the rise of the Australian shopping centre and shows what's to come

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<div>
Westfield Corporation is set to be taken over by the European shopping centre giant, Unibail-Rodamco.
A global property giant with 104 malls in 27 markets around the world will emerge after a takeover deal worth $32.7 billion.
Estates Gazette noted Rothschild’s property team, led by Alex Midgen, advised Westfield as well as Intu and Deutsche Bank’s property team, led in Europe by Rishi Bhuchar &amp; Klaus Elmendorff advised Unibail as well Hammerson.
Unibail shares traded lower in overnight European trade.
</div>
Frank Lowy, Westfield’s chairman, and his sons Steven and Peter, who are the current co-chief executives, will vote in favour of the deal, which values each Westfield security at an 18 per cent premium to the value of Westfield securities at the end of Monday’s trading session.
Peter Lowy calculated that since 1960 $1000 invested in Westfield would be worth $440 million.
The Lowy family said it intends to maintain an investment in the combined international group which is headquartered in Paris. As part of its takeover, shareholders will receive a combination of cash and shares in Unibal-Rodamco.
Frank Lowy said it was a day of mixed emotion but that he was certain it’s the right decision.... he foresaw a bright future.
Westfield chairman Sir Frank Lowy said the deal was “the culmination of the strategic journey Westfield has been on since its 2014 restructure”.
“We see this transaction as highly compelling for Westfield’s security holders and Unibail-Rodamco’s shareholders alike,” Sir Frank said.
He also suggested the family wanted to change their role to investors ... "we’ve [Frank &amp; sons] been doing it for a combined 145yrs.”
Shares in Westfield Corporation, the owner of shopping centres in the US and UK, were placed in a trading halt earlier today pending the announcement of a potentially “significant” corporate transaction.
Westfield shares had last traded on Monday at $8.55. 
Frank Lowy will retire as chairman of Westfield, but will chair an advisory board for the new merged company, while his sons Peter and Steven will retain leadership roles.
<div>
<div id="unruly-publisher-marker__inArticle">Founded in Sydney in 1953 by Frank Lowy and John Saunders, Westfield currently has interests in 35 shopping centres in the US and the UK, while its Australian centres are managed by the separately listed Scentre Group which remains independent.</div>
<div> </div>
<div>Scentre rose 17¢, or 4.1 per cent, to $4.35 while other local property trusts including its rival Vicinity Centres picked up. Vicinity rose 2.5 per cent, or 7¢, to close at $2.87 on Tuesday.</div>
<div> </div>
<div>It started in humble Blacktown.</div>
<div> </div>
<div>Last month at a film crew's behest, Frank Lowy went back to Blacktown where the delicatessen was opened in 1955, followed by the first Westfield mall in 1959.
His biographer Jill Margo, writing in the AFR, noted when he was walking down the street two older women called out "Hey Frankie!".
"They recognised me!" he said. "They'd been customers in the deli 60 years ago and had such fond memories. We reflected on those memories and the fact that they still live with the pleasure of being acquainted with me was a great thrill. What more could I want."
Margo added that Frank was always adamant that there would be no Lowy dynasty.
He and his wife, Shirley, have 11 grandchildren and, so far, four great grandchildren.
<div>"While thrilled to work with his sons, David, Peter and Steven, he never believed in trying to coax any grandchildren into the business," Margo advised, adding the older ones now work in the investment arena, the theatre, the internet, medical clinics, not for profits, and small enterprises – all unrelated to malls.</div>
<div>
And his sons collectively, had worked alongside their father for more than 90 years "and it's time," Margo concluded.
</div>
It has been suggested the red Westfield brand will prevail, at least in English speaking world. </div>
<div> </div>
<div>Unibail-Rodamco's chief executive,Christophe Cuvillier a French retail veteran, spent three years in Sydney in the 1990s as head of L'Oreal's Australian luxury products division.</div>
<div> </div>
<div>The news comes just a week after property company, Hammerson, announced it had made a bid to take over rival firm, Intu.</div>
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jchancellor-FAypfDUnLy

Oui ....Westfield yields to Parisian takeover

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Australian shopping center company Westfield Corp on Tuesday has entered a trading halt for its shares on the Australian Securities Exchange this morning ahead of an announcement on a potential transaction. 
The company said it was in discussions with unnamed parties for a “potentially significant corporate transaction”, without divulging further information. 
Westfield said it expects to make a related announcement on Thursday.
The early speculation is that the $17 billion company, whose major shareholders include the Lowy family, may be selling some of its non flagship centres.
Or undertaking a tilt at US mall owner GGP or looking to demerge its North American assets, or thinking of a merger of its real estate interests in France.
<div>
By early afternoon there was speculation Westfield was set to be taken over by a European shopping centre giant in a takeover deal said to be worth $32.7 billion.
</div>
Unibail-Rodamco will take over the ASX-listed company to create a global property giant with 104 malls in 27 retail markets around the world.
Unibail-Rodamco is the largest listed commercial real estate company in Europe and the second-largest globally by value.
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Westfield enters trading halt with significant announcement due this Thursday

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Westfield has no short-term plans to sell a chunk of its $2 billion World Trade Centre mall in New York, according to The Australian in an exclusive interview.
Featured on the front pages of the newspaper and its business section, but behind the paywall, it furthermore noted Frank Lowy has no intention of retiring as chairman of Westfield Corporation any time soon, his son Steven told Turi Condon.
<img src="/images/2016/01/20/unnamed.jpg" alt="">
Its front page has images of the pride of Westfield's work, the ceiling, named Oculus due to its whalebone-like structure.
"The Calatrava building will become one of the world's iconic pieces of architecture in one of the most sacred sites in the US, if not the world," said Steven who was at the WTC.
Westfield bought the World Trade Centre mall in July 2001, months before the September 11 terrorist attacks.
The reimagined mall, part of Westfield's $11.4 billion development program have retained some stores such as Victoria's Secret and Duane and Reade but have added a new generation of retailers.
Popular electronics company Apple will take up two levels and the food emporium Eataly will take up about 11 percent of the 112,000 sqm floor.
The first stage is due to open before the northern summer with most of the retailers to open in the second half of the year.
Following Lowy's decision to retire as the chairman of ASX-listed Scentre Group, the Westfield chairman's son however reconfirmed he will be staying on at Westfield after recovering from his operation.
"Dad is very strong physically and mentally," Steven said.
"He has continually said as long as he is strong and capable, and enjoying what he does, he will continue to do that"
Frank Lowy sustained a blood clot near his brain following a heavy fall from the podium during the A-League grand final presentation last May.
He is due to visit the World Trade Centre development in a few months.
 
 
 
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Frank Lowy plans to stay as Westfield signals keeping its World Trade Centre Mall

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Frank Lowy has announced he will retire as chairman of the ASX-listed Scentre Group at the company's annual general meeting in May 2016.
The Scentre board has appointed deputy chairman Brian Schwartz to succeed Lowy.
Lowy said it was the right time to announce his retirement from Scentre Group given that it had successfully completed its establishment phase following the restructuring of the Westfield Group in June 2014. 
"The transition to new leadership has been carefully planned and I have the utmost confidence that Brian Schwartz as the incoming chairman, and CEO Peter Allen, will make the most of those opportunities," he said.
“Frank has been one of the outstanding business and community leaders of the past 50 years,” Schwartz said.
Lowy said the Lowy Family Group would continue with its investment in Scentre Group.
He will continue in his role as chairman of Westfield Corporation.
Steven Lowy will continue to be a non-executive director of the Scentre Group.
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