<a href="https://www.apartments.com.au/developers/consolidated-properties">Consolidated Properties Group</a> (CPG) is approaching the launch of its latest Brisbane riverfront development, Castile, on the dress circle Skyring Terrace in Newstead.

VIP buyers are now being engaged, with a full public sales launch coming later this year.

Positioned as the final opportunity to secure a new absolute riverfront residence on the East bank of Newstead, Teneriffe or New Farm, Castile at 47 Skyring Terrace has been designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> as a timeless addition to the Brisbane skyline.&nbsp;

[smartcode_project:default project_id=150489 project_image_fid=371113]

The name Castile draws on themes of permanence, sophistication and legacy, reflecting a broader vision centred on enduring architecture and timelessness in the rarest of riverfront positions.&nbsp;

CPG Chairman and CEO Don O’Rorke said the project had been envisioned as a future Brisbane icon.&nbsp;

“With 47 metres of direct river frontage and never to be built out views, 47 Skyring Terrace is the definitive address on the Brisbane River,” O’Rorke said.&nbsp;

[smartcode_project:default project_id=150489 project_image_fid=371114]

“Rather than following trend-based apartment design, Castile draws inspiration from Brisbane’s great heritage buildings, reinterpreting classical architecture into a contemporary riverfront landmark designed to stand proudly for the next 100 years,” he said.&nbsp;

The approved development will comprise 227 apartments across a 25-storey tower alongside a boutique six-storey riverfront building of just 12 residences.&nbsp;

Construction is scheduled to commence in September 2026.

[smartcode_project_cta:default project_id=150489]

Joel Robinson

CPG unveils Castile Newstead ahead of upcoming sales launch

Australia’s online shopping habits have shifted dramatically over the last decade. As eCommerce volumes surged, so too did the frustrations that came with traditional parcel delivery: missed deliveries, long Post Office queues, parcel theft and the challenge of being home during business hours.

Australia Post’s Parcel Lockers emerged as one of the more practical responses to that changing consumer behaviour.

What started as a relatively niche delivery option has evolved into a nationwide network of more than 1,400 self-service Parcel Lockers positioned at train stations, shopping centres, supermarkets and Post Offices across the country. The system allows Australians to send, collect and return parcels 24 hours a day, fundamentally changing how many people interact with deliveries.

The appeal is relatively straightforward: flexibility.

Instead of waiting at home for a delivery driver or rushing to a Post Office before closing time, users can direct eligible parcels to a Parcel Locker location of their choice. Once the parcel arrives, Australia Post sends a notification with a collection code or QR access through the AusPost app, allowing customers to retrieve their package at any time within the collection window.

For apartment residents in particular, the system has become increasingly valuable.

Higher-density living has created logistical challenges around deliveries, especially in buildings without concierge services or secure parcel rooms. Missed deliveries are common, while parcel theft has become an increasing concern as online shopping volumes continue to rise.

Australia Post itself has repeatedly highlighted the growing issue of “porch pirates” during peak shopping periods, encouraging customers to use Parcel Lockers as a safer alternative to unattended home deliveries.

That security aspect is one of the key reasons the Australia Post Parcel Locker network has grown so rapidly.

Parcel Lockers are positioned as secure, monitored collection points that reduce the risk of theft while also improving delivery efficiency for Australia Post. Instead of multiple redelivery attempts, parcels can be consolidated into a single secure destination.

The Parcel Lockers themselves are free to use through a MyPost account and support a range of parcel sizes up to 16 kilograms and dimensions of approximately 35 x 44 x 61 centimetres.

Beyond receiving parcels, the system has increasingly become integrated into the broader eCommerce ecosystem.

Customers can now use Parcel Lockers to return online purchases, while retailers have embraced the model as a way to improve delivery success rates and reduce friction in the shopping process. Australia Post has actively expanded partnerships with major retailers and promoted Parcel Lockers as part of a broader out-of-home strategy.

The timing of that expansion aligns with broader changes in Australian shopping behaviour.

The acceleration of online retail during and after the pandemic placed enormous pressure on delivery infrastructure. Parcel volumes reached record highs, particularly during Black Friday and Christmas periods, with Australia Post delivering more than 100 million parcels during peak festive seasons.

That growth forced logistics providers to rethink the “last mile” of delivery, widely regarded as the most expensive and operationally difficult stage of the process.

Parcel Locker systems have increasingly been viewed as part of the long-term solution.

The concept itself is not unique to Australia. Parcel Locker networks have become common globally, particularly across Europe and Asia, where dense urban environments and apartment living create similar logistical challenges. But Australia’s geography and suburban sprawl made adoption slower initially.

Now, however, the convenience factor is driving mainstream usage.

For commuters, Parcel Lockers near train stations allow parcels to be collected on the way home from work. For apartment dwellers, they remove the uncertainty around access and missed deliveries.

The rise of the AusPost app has also streamlined the experience, centralising notifications, tracking and Parcel Locker access into a single platform. Australia Post has increasingly pushed customers toward app-based delivery management, partly as a way to combat phishing scams and fake delivery notifications, which have become more sophisticated in recent years.

The Parcel Locker model is also beginning to influence property development itself.

Parcel management has become a growing consideration in apartment building design, particularly as online shopping becomes embedded in everyday life. Many new residential developments are now incorporating dedicated parcel rooms or Parcel Locker systems into foyers and communal spaces.

For developers, parcel management is increasingly viewed as part of the broader resident amenity offering, alongside gyms, wellness spaces and communal work areas.

That reflects a wider evolution in how residential buildings are designed.

Apartment buyers are placing greater emphasis on convenience, security and operational functionality, particularly in higher-density urban environments. Parcel delivery, once considered a minor operational detail, has become an increasingly important part of that equation.

Australia Post’s Parcel Locker network sits at the centre of that behavioural shift.

What began as a simple alternative delivery option has evolved into a key piece of infrastructure supporting Australia’s growing eCommerce economy and changing urban lifestyles.

And as online shopping continues to expand, the role of Parcel Lockers is likely to become even more embedded in how Australians live, shop and receive goods.

How Australia Post Parcel Lockers changed parcel delivery convenience in Australia

Perth’s new apartment market recorded its strongest quarter of sales since Q4 2021, with 412 apartments sold in Q1 2026 and a record quarterly sold value of $537 million, according to Urbis’ latest Apartment Essentials results.

Urbis said the March quarter result reflects strong, highly product‑specific demand across both ends of the market, from more attainable projects delivering at scale, through to premium stock being absorbed by equity‑rich downsizers.&nbsp;

David Cresp, Partner at Urbis, said the key story in Perth is not demand, it is the market’s ability to convert demand into delivered housing.&nbsp;

“This is the strongest sales quarter since Q4 2021, and it reinforces that demand in Perth is real and it’s local,” David Cresp said. “But the task now is delivery, turning that demand into projects that can actually be built and completed.”&nbsp;

[smartcode_project:default project_id=110291 project_image_fid=302785]

<h2>Affordable product leads, premium demand remains resilient</h2>

Sales in Q1 were led by more affordable projects, with The Boulevard (SKS Group) recording 115 sales in the quarter, the presentation noting this is only the second time a single project has surpassed 100 quarterly sales. The project was able to offer more affordable housing product right next to a train station.&nbsp;

Palmyra West (Finbar) also delivered strong results with 28 sales in Q1, following 84 sales in Q4, with an average price of under $800,000, underscoring depth of demand for well‑located, attainable new stock.&nbsp;

At the premium end, Urbis said downsizer demand is continuing, with the results highlighting Romeo (Applecross, Finbar) recording 75 sales and reaching almost 50% sold in one quarter.

Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.

Urbis noted that Perth apartment demand is not speculative, not investor‑led, and not uniform, describing it as localised, often equity‑driven and highly product‑specific, a pattern reflected in the polarisation between strong “attainable” performers and premium downsizer product.&nbsp;

[smartcode_project:default project_id=148957 project_image_fid=364102]

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

Urbis said pricing pressure is cost not demand‑driven: construction costs and delivery risk are now a central constraint, with the results noting build costs remain elevated and volatile, and that energy, fuel and labour uncertainty weigh on feasibility.

David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.

“Developers are really feeling the pressure from a building market that was operating at capacity and securing a builder is challenging,” David Cresp said, adding that even where a builder can be secured, “trying to get to the price that makes the development financially viable is incredibly challenging in the current market.”&nbsp;

Urbis’ broader WA commentary also notes that industry remains at or above capacity with lot and housing creation, and that many builders are limiting new sales to manage stretched workforces and fixed‑price contract pressures, conditions that flow directly into apartment feasibility and delivery timing.

[smartcode_project:default project_id=108869 project_image_fid=317905]

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

While near‑term supply remains constrained, Urbis’ forecast shows completions lifting “Supply is forecast to be back above 1,500 apartments per annum for the first time since 2019”, with 1,775 completions forecast for 2026, and volumes remaining above that level over the following years.&nbsp;

Looking further ahead, completions are forecast to reach 2,500 in 2028, with the report noting 32% of that total is social/affordable, reflecting the role of government‑supported delivery in rebuilding the pipeline.&nbsp;

However, Urbis said Perth remains behind comparable markets on pipeline scale. In a national comparison of projects under construction, the report shows under construction Perth Build‑to‑Sell (BTS) at 3,446 apartments versus the Gold Coast at 7,922. Mr Cresp said “The challenge for Perth is how to we grow the delivery pipeline”.

Urbis’ conclusion is that Perth’s market is increasingly defined by product discipline and delivery certainty, with the research identifying “delivery certainty is key” and calling out builder risk and procurement models as core success factors, alongside “timing and staging”.&nbsp;

Perth apartment sales hit strongest pace since late 2021 as builder capacity tightens

<a href="https://www.apartments.com.au/developers/sammut-developments">Sammut Group</a> has secured development approval for its latest Brisbane apartment project, marking the Sydney developer’s next step in expanding its Queensland pipeline following the success of its debut Gold Coast development, Coast.

The approved project at <a href="https://www.apartments.com.au/new-apartments/44-glen-road-toowong-qld-4066">44 Glen Road, </a><a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> will deliver a 15-storey riverfront apartment building with 42 residences, significantly increasing the scale of the site’s previous approval for a smaller luxury scheme. Designed by Bureau^proberts, the development will comprise a mix of predominantly four-bedroom and two-bedroom apartments positioned to maximise Brisbane River and city views.

Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.

“Brisbane was the right step for Sammut,” Sammut said.

“With the success of Coast we thought we should definitely look to do more in Queensland alone. We then pushed up to look at Brisbane. We've been looking for I'd say two to three years actually and it was hard to find the right location.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-23%20at%203.27.14%E2%80%AFPM.png?VersionId=dYAVIL7qdcGA8ojvkslSrLjczXFejSSx" />

Sammut said suburbs including New Farm and Teneriffe were considered before the group ultimately focused on Toowong due to its strong downsizer demographic and limited supply of developable riverfront land.

The site was acquired off-market after what Sammut described as a lengthy negotiation and planning process, with the developer pursuing an uplift to the original approval.

“We are DA approved now which is very exciting,” Sammut said.

“We've had our change approval come through and we've obviously doubled the height, 15 storeys plus rooftop. We've got 42 amazing apartments that are going to be coming to market soon.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="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/Screenshot%202025-12-23%20at%203.27.26%E2%80%AFPM.png?VersionId=ohkRkY0dIZlqdfME2EZePsCQavRiBadE" />

Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.

“A place where traditional Queensland living has taken place for centuries; Toowong is seeing a shift of contemporary influence, commercial and retail hubs mixed with well-considered residential offerings – all the while maintaining its character and charm,” the architect noted in planning documents submitted to Brisbane City Council.

The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.

“They said the mix of four and two-bedroom apartments capture the ‘fundamental qualities of Queenslander living,’ translated into the context of a contemporary subtropical building.”

The development sits just off Coronation Drive within walking distance of Toowong’s retail precinct and the upgraded Regatta ferry terminal, while also benefiting from proximity to the incoming green bridge connection to West End. Sammut said the accessibility and amenity offering were central to the site’s appeal.

The approval adds to growing residential activity along the Toowong riverfront, joining nearby projects including Consolidated Properties’ Monarch Residences and Spyre Group’s ARC Residences.

Sammut secures approval for debut Brisbane apartment development in Toowong

Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.

Lanevick, founded and directed by Steve Maroun, is expecting to receive approval in the coming months for a new apartment development in Gladesville, with the aim to launch it to the market later this year.

The 51-apartment project, designed by Studio Johnston, will comprise a mix of one-, two-, and three-bedroom apartments positioned toward the Hunters Hill downsizer market.

“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.

“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.

“They still want good spacious entertaining areas, they still want quality design, but they also want flexibility and the ability to enjoy life a bit more after working hard for a long time.”

The project sits near Boronia Park and within close proximity to the Parramatta River foreshore, an area Maroun says offers more of a Hunters Hill lifestyle than a traditional apartment precinct.

“From a lifestyle perspective, it’s really more Hunters Hill than Gladesville,” Maroun said. “You’re close to the foreshore, close to parklands, and still connected back into the village precinct.”

From level four and above, apartments will capture water views&nbsp;toward Sydney Harbour. Communal amenity will include rooftop entertaining areas, wellness spaces, and a gym tailored toward owner-occupier buyers.

“We’ve really designed these apartments around that buyer coming from the Hunters Hill LGA and what they’re actually looking for in their next chapter.”

The proposed development has also been designed to respond to the changing character of the broader Gladesville town centre, where a growing number of mixed-use and residential proposals are expected to emerge over the coming years.

“Gladesville presented a rare opportunity to deliver a genuinely design-led residential project within an evolving lifestyle precinct, just moments from the growing Gladesville town centre, and we’ve approached the project with a strong focus on architecture, liveability and long-term community value,” Maroun said.

Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.

“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.

“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”

The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.

“A big part of the thinking was how do you activate that area properly and create more vibrancy and amenity, which is what Hunters Hill has been looking for,” Maroun said.

Lanevick’s focus since 2020 has largely been on smaller-scale luxury townhouse and terrace developments. The developer recently completed Royale Randwick, also designed by Studio Johnston, where prices reached $3.65 million. The project was featured in the UDIA NSW 2026 Professional Development Prospectus and was also named a finalist for Development of the Year.

&nbsp;

Lanevick to cater for Hunters Hill downsizers with new Gladesville apartment development

Housing Developer

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The departing Stockland boss anticipates that the housing market could shift into under-supply in residential growth corridors around the capital cities over coming years.

Mark Steinert, the boss of the country’s largest residential developer, Stockland, suggests 2025 could see “quite a chronic under-supply in the land market.” 

“We need to make sure that, particularly on the eastern seaboard, planning and the delivery of infrastructure can align to ensure that under-supply doesn’t become too great,” he told The Australian.

“That’s going to reignite the whole challenge around affordability again just when it got to a point where that could actually be addressed.”

Buoyed by the federal government’s HomeBuilder incentives, Stockland’s ASX results announcement advised its strongest market was Sydney, followed by southeast Queensland. The company advised its settlement default rate had returned to normalised levels.

With strong January sales, the price secured per sqm rose significantly annually in NSW from $940 psqm to $1139, with the average lot price rising from $412,000 to $461,000.

<img alt="" height="398" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/stockland_1h21_results.jpg" width="1200"> <img alt="" height="472" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/1h20_settlements_stockland.jpg" width="1200">

“Melbourne continues to be solid, but has obviously been a bit more impacted by both the combination of the lockdowns, and the greater availability of land,” Mr Steinert said.

He anticipates Perth could moderate over the next 12 months as WA had the largest housing grants, pulling forward demand, although the strong mining sector could keep up its momentum.

Stockland’s buyers are mostly owner occupiers.

“We’ll move to equilibrium in 2022, and then move back into quite a significant under-supply as migration and foreign student numbers start to pick up in 2022,” Mr Steinert forecast.

Stockland had five new subdivision acquisitions, dubbed early cycle restocking, with the potential of adding 9,200 lots to its inventory.

Its residential business reported its strongest half year results in four years with more than 3800 sales, along with residential settlements jumping 43 per cent to 3,100.

Stockland is on track for 6000 settlements this financial year.

 
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Mark Steinert, the boss of the country’s largest residential developer, Stockland, suggests 2025 could see “quite a chronic under-supply in the land market.” 



jchancellor

House and land market could shift in to under-supply: Read Stockland CEO Mark Steinert's insights

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A local developer has paid a reported $32 million for the Everton, Pymble residential development site after a development syndicate of Chinese buyers failed to settle.
The development syndicate blamed capital transfer constraints in China, according to Fairfax Media.
NSW Land &amp; Environment Court approval was secured in July 2016 by BFD Pymble's solicitors, Lin Tang &amp; Co Lawyers for the project.
The site at <a href="https://www.realcommercial.com.au/property-land+development-nsw-pymble-502567694" target="_blank">2-8 Pymble Avenue and 2-4 Everton Street</a> had most of its construction certificate works completed.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/11/20/PymbleDev.jpg" alt="">
It has been approved for 98 apartments over three buildings with 156 basement parking spaces.
The design was done by the architects, <a href="http://www.become.com.au/projects/everton-pymble/" target="_blank">Become</a>.
Savills' Neil Cooke marketed the site with colleagues Stuart Cox and Johnathon Broome which attracted interest from around 20 developers.
The property is zoned R4 High Density Residential under the Ku-Ring-Gai LEP 2012 with a height limit ranging between 11.5 and 17.5 metres and a blended FSR of 1:1.
The apartments are expected to come to market early 2018.
 
 
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jchancellor-FAypfDUnLy

Chinese residential developer defaults on Everton, Pymble project

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<div class="domain-article-share-panel is-top" data-sticky-id="0">A NSW Supreme Court case finished on Tuesday, only a day into its scheduled five days, when 11 would be off-the-plan unit buyers at a Surry Hills block, were offered a confidential cash sum in addition to the refund of their deposits to walk away from their purchases.</div>
<div class="domain-article-share-panel is-top" data-sticky-id="0"> </div>
<div class="domain-article-share-panel is-top" data-sticky-id="0">The case involved a 22-unit block, Short Lane Apartments, at 352 Bourke Street, who put down their deposits in late 2013 after marketing by CBRE Residential.</div>
<div class="domain-article-share-panel is-top" data-sticky-id="0"> </div>
<div class="domain-article-share-panel is-top" data-sticky-id="0"><img src="https://www.urban.com.au/images/2017/09/13/Screen%20Shot%202017-09-13%20at%2010.22.34%20AM.png" alt="" width="611" height="360"></div>
<div class="domain-article-share-panel is-top" data-sticky-id="0"> </div>
<div class="domain-article-share-panel is-top" data-sticky-id="0">The project still appears under <a href="https://www.propertyobserver.com.au/https://www.cbresi.com.au/success-stories/short-lane-surry-hills/70" target="_blank">success stories</a> on the CBRE website.</div>
<div class="domain-article-share-panel is-top" data-sticky-id="0"> </div>
<div class="domain-article-share-panel is-top" data-sticky-id="0"><a href="https://1pt.com.au/showcase/shortlane/" target="_blank">All 22 apartments</a> were sold within the first half hour of the opening day "with prices escalating rapidly as demand showed no sign of waning."</div>
<div class="domain-article-share-panel is-top" data-sticky-id="0"> </div>
<div class="domain-article-content-body ">
<div class="in-content-ad">It was a landmark court case under new “sunset clawback” laws designed to ensure new apartment developers could not unfairly tear up sales contracts so they can make more money on delayed property sales.</div>
<div class="in-content-ad"> </div>
<div class="in-content-ad"><img src="https://www.urban.com.au/images/2017/09/13/Screen%20Shot%202017-09-13%20at%2010.25.58%20AM.png" alt=""></div>
</div>
The developer was taking some of his apartment buyers to court after they refused to allow him to tear up their sales contracts following construction delays, in the first legal test of the “sunset clawback” laws.
The developer-builder Kanaan Kanaan accused some of his buyers as "being greedy about it." 
The case in NSW Supreme Court was seen as a major test of laws designed to protect consumers buying new apartments.
However final negotiations for a settlement began only after acting Justice Arthur Emmett wondered aloud in the courtroom whether the new laws gave him the power to order a result with a sum of money to be paid by the developer. 
The court heard that, instead of the projected 15 months to complete the project, it had taken more than 52 months. 
The potential owner-occupiers and investors bought into the building in 2013 but the apartment weren’t finished by October 30, 2016, the date by which time the so-called “sunset clause” was triggered, which enables either the developer, or the purchaser, to cancel the sale and rescind the contracts if the building was not finished by its proposed completion date, noted Fairfax Media. 
In late 2015, legislation was introduced in the Parliament to protect buyers against developers intentionally delaying completion then rescinding contracts in order to cash in on rising property prices. Under the new laws, the developer has to justify his actions.
<img src="https://www.urban.com.au/images/2017/09/13/Screen%20Shot%202017-09-13%20at%2010.27.47%20AM.png" alt="">
Developer-builder Kanaan Kanaan, of Komplete Constructions, wrote to the buyers of units in his six-level Short Lane building at 352 Bourke Street five days before the cut-off date to tell them he would be rescinding their contracts and refunding their deposits.
If the developer wishes to rescind a contract, he must first seek permission from the purchaser to go through with the termination, under the laws championed by the then NSW Minister for Innovation and Better Regulation Victor Dominello.
If the buyer does not agree, then the developer can apply to the NSW Supreme Court for permission to allow the rescissions to take effect.
Acting Justice Arthur Emmett in the Equity Division of the court was told that Kanaan had been hampered by a number of problems, delays and postponements which made it impossible for him to complete the Woods Bagot-designed apartments in time. 
Instead of the 15 month target, more than 52 months went by since the Development Application was approved.
“There were major delaying events that made it impossible to complete the project despite his best endeavours,” his barrister Ian Roberts told the court. “These events postdate the sales contracts.”
It is understood the eight buyers who have refused the developer permission to rescind – three others agreed and four more agreed with an extra payment – will be arguing that cancellation of their contracts will mean the developer will make a windfall because of the “extraordinary rise in the value of Sydney property” in the interim.
They will be alleging that the delays were only due to poor management, a succession of applications to council, and an appeal to the Land and Environment Court.
The purchasers allege that the changes would increase the value of only the parts of the building, such as the retail lots and the four top floor apartments, that the developer retained.
But Roberts said the delays were beyond Kanaan’s control. Among them was an electrical kiosk substation that wouldn’t have enough room to be accessed when the building went up. After a number of discussions and applications, that was removed.
That meant, however, more space was freed up for retail lots at the base of the building, so consent was then sought for those and a redesign commissioned. There was also an application to add an additional floor to the building that was turned down by the NSW Land and Environmental Court in April 2016.
Consent was granted for a rooftop garden in September 2016 for the exclusive use of the developers’ top-floor apartments. Finally, there were delays in the delivery of windows and in procuring the difficult designed form at the top of the building.
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j.ballantyne1990-6AQqhLzZaK

Slow developer settles court case after taking 11 apartment buyers to court under 'sunset clawback' laws

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Two construction companies are among the top five of the 2017 Top 500 Private Companies list compiled by IBISWorld.
Harry Triguboff’s Meriton Group occupies fourth position with a revenue of $2.77 billion, while BGC is at no. 5 with revenue of $2.69 billion.
The rankings are based on revenue. Both developers, however, posted a fall in revenue on a year-on-year basis, the list showed, pointing to a slowing housing and construction market.
Triguboff, whose personal wealth is estimated to be $10.23 billion, has also been on the BRW Rich 200 list since it was first published in 1984. 
Meriton has focused on the apartment sector, but it is increasingly expanding into serviced apartment and also childcare centres. The developer last year led Australia in housing starts with 7929 dwelling constructions, about triple the number the year before.
The surprise in the pack was another developer, Hutchinson Builders, which jumped into the top 10 with a 43 percent surge in revenue at $2.3 billion.
The fourth-generation Queensland builder beat the odds of a federal work ban and a slowing housing market for his stellar performance, the Australian Financial Review reported.
Brisbane-based Hutchinsons were not allowed to tender for Commonwealth-funded projects from April 1 to June 30 for breaches of the federal Building Code related to its workers' ability to choose whether or not they joined a union.
Hutchinson chief executive Greg Quinn said the builder had considered appealing the ban, given the breaches were relatively minor and involved just a handful of its 1400 employees and 2500 sub-contractors.
The federal work amounted to only 7 per cent of its turnover, he said.
Apart from the three construction companies in the top 10, the next in the industry are way behind, with BMD Group at 34th position with revenue of $1.14 billion and Hansen Yuncken with revenue of $1.11 billion. Both grew their revenue by more than 20 percent year on year.
The top 50 was rounded off with Richard Crookes Constructions, Built, ABN Group and Salta Properties.
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jonathanchancellor-7SQnKwU6yx

Harry Triguboff leads list of developers in top 500 private companies list

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AVID Property Group has acquired the remaining 750 residential lots at Waterford County, as part of an established masterplanned community in Chisholm, New South Wales.
The move is part of AVID's strategy to strengthen its foothold in the Lower Hunter Valley region with and triple the company’s value over the next five years. 
“We are no stranger to the region, with our development, Harvest, located just next door and benefitting from much of the same infrastructure investment we have made in the region,” said AVID Property Group CEO Cameron Holt. 
“The Lower Hunter is increasingly becoming an affordable alternative to the Sydney housing market with many buyers moving out of Sydney in favour of regional New South Wales. 
Harvest and Waterford County are expected to meet the demand for the surging population of nearby Newcastle, which is undergoing a $500 million revitalisation. 
“This will create more job opportunities over the next decade, improved transport services and increase the need for housing in the region,” he said. 
There was a 40 per cent rise in sales at Harvest in the second half of 2016, showing a firm demand for property in the area. 
“The opportunity to expand our market share sets AVID up strongly within the high-performing region, forecast to be home to more than 26,000 additional residents by 2036,” he said. 
The site has parklands, green space and wetlands, and 7 km of walking and cycle paths linked throughout the development. 
“We are looking forward to pushing through the completion of this large project,” he said. 
“This AVID project will complement the ongoing development of Harvest, which is 75 per cent complete and has already welcomed over 700 residents.” 
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AVID Property Group plans residential development on 150 ha site in Lower Hunter 

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Cbus Property has sold contracts for more than half of its apartments in its $375 million Brisbane high-rise, and is expected to start construction soon amid concerns of an oversupplied market.
The 264 apartment tower at 443 Queen Street ran into controversy earlier, but a decision on construction would provide certainty to other buyers and more sales could be expected, Cbus Property chief executive Adrian Pozzo was cited as saying by The Australian Financial Review.
Among the sales so far are 15 four-bedroom apartments worth more than $2 million each. 
"We will be on site in the coming weeks, with completion occurring in the third quarter of 2020 and that certainty is important to owner-occupiers, particularly buyers planning to downsize," Pozzo said.
"The strong sales result is a clear sign that the demand for quality owner-occupier product is alive and well in the Brisbane market," he said.
The tower, with views over the Brisbane River, has been designed by architect Richard Hassell, of Singapore-based WOHA Architects and Brisbane firm Architectus, led by Elizabeth Watson Brown.
The design includes gardens on every level of the 47-storey tower. 
The project ran into hurdles early on after protests against its development near the heritage-listed Customs House. 
Law firm Allens started a legal battle with Cbus over the tower, which is being built in front of the lawyers' own Brisbane headquarters, blocking the views of the river. That legal challenge has since been resolved.
Concerns have been voiced in various quarters, including the RBA, about an oversupply of apartments in Brisbane.
Apartment sales in Brisbane city have slipped 70 per cent in a year according to Urbis. 
Last year, Cbus Property had teamed up with Scentre Group to purchased the <a href="/expert-insights/investing/cbus-and-scentre-team-up-to-secure-david-jones-sydney-store">David Jones Market Street</a> building in Sydney’s CBD for $360 million.
 
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Cbus to start building Brisbane tower as it notches brisk sales

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Melbourne developer Kokoda Property is buying a riverfront site in Brisbane’s St Lucia with plans for a $75 million apartment building in spite of a slowing market and the recent collapse of a major builder.
It is paying $9.5 million for the site.
"The Brisbane market has, overall, slowed," Kokoda property director Sam Tucker was quoted by The Australian Financial Review as saying.
"However, we see this as an opportunity as higher-end purchasers are now driving the demand."
New apartment sales in Brisbane have collapsed by more than 70% in a year, according to Urbis.
It also said the Brisbane apartment market has been self-correcting and unlikely to suffer any great supply-demand imbalance. 
SQM Research recently said that Greater Brisbane faces an oversupply of 8,000 new dwellings this year as scheduled completions outstrip population-driven growth in demand.
However, Urbis figures showed that only 1,812 units are under construction in the CBD across four projects. 
Just last week, Metro Property Development was reported to have sold a prime apartment development site in Brisbane for a huge 35% discount after buying it for $20 million just two years back.  
Despite the negative sentiment, Kokoda’s Tucker expects the 60 high-end, luxuriously sized apartments he is planning at <a href="https://www.realestate.com.au/property/160-macquarie-st-st-lucia-qld-4067" target="_blank">160 Macquarie Street</a> to sell.
"At Kokoda, our strategy is to move at a counter-cyclical direction to the rest of the market,” he said.
"Our faith in the Brisbane market may run against convention, but we have no doubt that the quality of our offering will continue to draw strong attention in the market as it matures.”
The site sold for $6.75 million in 2014, according to RP Data.
The site was previously marketed as well with an offering of apartments. The site area is 1242 square metres.
Called St Lucia Residences, it was conceived by Hayes Anderson Lynch Architects and interior designers SJB Interiors.
Kokoda's planned 15-storey development, located 6 kilometres from the CBD, will have "a blended neo-classical style with touches of New York's upper east side".
Tucker said Brisbane was moving away from investor-driven projects to a smaller, but stronger, owner-occupier market that demanded higher quality.
Kokoda’s project Chester &amp; Ella in Newstead generated $95 million in sales in its first four weeks and was ranked as a top sales performer consistently since its launch, according to data by Place Advisory, the AFR said.
"The sales success of our previous project is testament to the strong ongoing demand from the higher end of the market," said Tucker.
The St Lucia sale was negotiated by Colliers International's Brendan Hogan.
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Melbourne developer Kokoda buys St Lucia, Brisbane riverfront site 

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Sydney developer Crown Group has entered Melbourne residential market, partnering with with Melbourne developer G3 for a 170-apartment project in Southbank.
The 175 Sturt Street site spans 2,070 sqm.
It is close to Crown Melbourne casino and hotel complex.
It will accommodate a mixed-use luxury resort-style development with ground floor retail, the Australian Financial Review reported.
"We've been strategic in our expansion interstate and this is the right time to expand to Melbourne. I would not be surprised if this is the first of a number of successful developments outside Sydney," said Crown Group chairman and chief executive Iwan Sunito.
"We hope we can set a new benchmark in apartment living in Melbourne and in other states, like we have in Sydney."
He set aside concerns about off-the-plan sales in Melbourne slowing, saying the right location would always sell.
"Depending on the location, Melbourne is still a very promising market, particularly the arts precinct, there is strong demand but not enough supply in that area," he said.
"While we continue to see enormous potential in Sydney, Melbourne is carving its own place among the top international cities in the world. Melbourne is highly regarded internationally for its liveability and we foresee a strong local demand for high-quality apartments with resort-style amenities in Melbourne."
The developer unveiled its $400 million development Waterfall in Sydney late in 2016, and said it had received strong expressions of interest ahead of its launch.
The development is scheduled for completion in 2019. 
"I would not be surprised if stage one of Waterfall sold out as there is a strong demand from local buyers wanting to live closer to amenities," he added.
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Sydney's Crown Group steps into Southbank, Melbourne residential market 

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Former property developer Craig Kirrin Gore has been arrested and charged with fraud in a Brisbane court following an ASIC investigation.
He appeared in the Brisbane Magistrates' Court after being arrested on April 14 and  was charged with 15 offences, said a release on ASIC’s website.
Gore was charged on 12 counts of fraud relating to the obtaining of funds, totalling $800,000, from self-managed superannuation fund (SMSF) investors during 2013 and 2014. The funds were allegedly to be invested in debentures associated with the companies Arion Financial Pty Ltd and Arion Property Pty Ltd. 
He also faces three charges of acting in the management of three corporations (MOGS Pty Ltd, Sleipner Financial Pty Ltd and Arion Financial Pty Ltd) whilst disqualified from doing so.
ASIC obtained an arrest warrant after concerns that Gore may not remain in the jurisdiction. 
Gore was picked up by the police while on his way to catch a flight to Stockholm, adds Fairfax Media. 
He was not required to enter a plea and was granted conditional bail. The matter is listed for return at the Brisbane Magistrates Court on May 5, 2017. 
If proven, the fraud charges could see him getting penalties of between five and 20 years.
The charges of acting in the management of corporations whilst disqualified each carry a maximum penalty of one year imprisonment or 50 penalty units.
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Former property developer Craig Gore arrested and charged with fraud

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Listed developer Diploma Group’s collapse has turned Perth’s biggest apartment complex into a “nightmare” for its residents, catching the attention of state government MPs.
The development in question is the $450 million Queens Riverside complex in East Perth, billed as being part of a wave of trendy developments that would bring life into the city when it was built during the mining boom, the Perth Now reported.
The Queens Riverside was finished in 2014, with three apartment towers. But one of the main builders behind the development — Diploma Group — went bust.
Residents of the sections built by Diploma have reported major defects such as leaks and faulty windows, with owners being hit with wildly varying bills over a malfunctioning complex thermal power system.
The base of the complex, one of the three apartment towers and the Fraser Suites Perth Hotel were built by Diploma.
It has proved a headache for the developer Frasers Property, with as many as 160 apartments unsold. 
Labor MPs have now been drawn into the debate, and are saying WA urgently needs to re-write dated strata title laws to give better protection to apartment owners, the article in Perth Now said.
Residents spokeswoman Lani Tuckfield said strata management levies had risen more than 110 per cent since people moved in and owners are asking whether the increases are to fix defects that should have been noticed when they first bought. Some owners who would like to sell are unable to because of the defects.
Residents say Frasers is using its weight of numbers through the big number of unsold apartments to block a push for transparency.
Labor member for Perth John Carey, who met about 100 residents last week, said strata laws needed changing to give people confidence they would be protected when buying into apartment complexes.
“We definitely need inner-city living — unfortunately, I don’t think this is a rare occurrence and it leaves a bad taste in people’s mouths,” Carey said.
A Frasers spokesman said it supported the rights of all owners to vote “without prejudice” in alignment with the Strata Titles Act of 1985.
It said the rise in rates was mainly because of advice from strata manager Colliers International there was “insufficient working capital”, unpaid and unaccounted for invoices and incorrect allocation of expenses when Colliers took over as strata managers last year.
Colliers said strata levies were not used to repair building defects. Colliers said it manages the strata levies which go to an administration fund for day-to-day running of the strata scheme and a reserve fund.
Diploma, a 40-year-old company controlled by the Di Latte family, went into administration late last year with debts of $40 million. Creditors include sub-contractors and the ATO. Matthew Donnelly, David Hodgson and Andrew Hewitt of Grant Thornton were announced the administrators.
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