<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

Legislation

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As coincidence would have it I recently had a conversation with Dr Hazel Easthope, Senior Research Fellow, City Futures Research Centre UNSW following the news last month of yet another delay being announced in the now long over due review of NSW Strata Title legislation.
It has been confirmed that the Strata law reforms in NSW are to be delayed (again) with changes now not due to come into force until July next year. That’s another 18 months, which for such an important area of reform appears almost to be neglected.
The plans have been delayed several times since being announced in 2011. The reforms to the state’s 50-year-old strata laws are now urgent, but this message appears not to being heard by the State Government. In part a series of ministerial changes have hampered the process, but concerns among apartment dwellers are on the rise, and their concerns are justified.
The research being undertaken by Dr Easthope is looking at the experience of people living in strata titled property. Her work will look at details of people and seek to learn about their experiences of living in an apartment, and what they like and dislike about strata tile living. How strata title impacts the feeling of ‘home’ and how the quality of building management impacts residents. It’s notable that the quality of building management is now a key issue for many apartment buyers and investors.
The aim being to better understand the needs of different people living together in strata schemes and what can be done to make them more attractive places for everyone. The survey is due to be completed by 30thJune 2015 and I look forward to seeing the results.
The survey can be accessed at <a href="https://www.be.unsw.edu.au/research-centres-and-clusters/city-futures/about-us" target="_blank">City Futures</a>, and along with Dr Easthope I will keep readers up to date on the survey and related topics.
 Also in a national survey on strata-titled property conducted by Queensland’s Griffith University, the author, Professor Christopher Guilding has named building defects as the main challenge for apartment owners, which was also identified as the biggest issue for strata lawyers, and in the top five by resident building managers.
As a result the SMH recently reported that Professor Guilding is calling for a federal government inquiry about the issue, which must also put even more pressure on the NSW review process.
Professor Guilding will be releasing the results of the Inquiry Into Key Challenges In Australian Strata Title in September at the launch of the biennial national conference Strata and Community Title in Australia for the 21st Century.
The work by Professor Guilding and Dr Easthope appears very opportune and may well be central to helping to maintain the quality of life for the many apartment owners and future buyers across Australia and I am sure there will be a lot of valuable information and insights to share.
Peter Chittenden is managing director for residential of Colliers International. He can be contacted <a href="https://www.projectagenda.com.au/" target="_blank">here</a>.
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pchittenden-eLqUUC8TWW

Yet more strata legislation delays: Peter Chittenden

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The Turnbull Government has released its draft legislation to help home buyers get into their first homes.
Legislation to establish the First Home Super Saver Scheme (FHSSS) allows first-home buyers to save for a deposit inside their superannuation account, attracting the tax incentives and earnings benefits of superannuation, and "turbo-charging" their ability to save.
Savers will be able to contribute $30,000 (up to $15,000 a year within existing caps), and be able to withdraw the contributions along with deemed earnings in order to help fund a deposit on their first home. Pre-tax contributions are taxed at 15 per cent; withdrawals will be taxed at marginal tax rates less a 30 per cent offset.
The measures are to commence on 1 July 2018, but voluntary FHSSS contributions can be made from 1 July 2017 and will be eligible for withdrawal (provided all criteria are met) from 1 July 2018.
Housing affordability is a major issue affecting many Australians and there is no silver bullet, Treasurer Scott Morrison has said.
The Government has released a consultation draft of legislation to implement the FHSSS and has encouraged interested stakeholders to make a submission on the draft legislation. 
The exposure drafts and details of the consultation process are available on the <a href="https://www.treasury.gov.au/" target="_blank">Treasury website</a>.
1) How would my savings be released?
The consultation draft provides that you would receive the funds after applying to the ATO and declaring your eligibility. The ATO will arrange for money to be released from your super and will pay it to you within a reasonable processing time. You would then have a set period to buy a home (see below). This would ensure that you can have access to the funds on the day of exchange, allowing you to use the savings directly for the deposit.
2) Who would be eligible to use the FHSSS?
The consultation draft provides that you may apply to have your savings released if you are 18 years or older, you have not used the FHSSS before, and you have never owned real property in Australia. This means that if you have owned an investment property, commercial property or vacant land you would not be eligible to use the FHSSS. The FHSSS is intended to help people who are not already in the property market. You may be able to leverage your existing property to help you buy a home.
3) What if my partner has owned a home?
If you would be eligible to use the FHSSS, you would not be disqualified just because a person you are buying your home with is not a first home buyer.
4) What kind of home could I buy?
The consultation draft provides that you would have to purchase residential premises. This could include vacant land (if the land was to be built on), but would not include any premises that is not capable of being occupied as a residence, and would not include houseboats or motor homes.
5) How long would I have to buy a home?
The consultation draft provides that you would have 12 months after releasing the savings to sign a contract to purchase a qualifying home. You would be able to ask the ATO for a 12-month extension.
 6) Would I have to live in the home?
Yes. The consultation draft provides that you must occupy the premises as soon as practicable, and for at least six months of the first 12 months after it is practicable to do so. So, for example, if you bought a house-and-land package using the FHSSS, you would have to occupy the house for at least six months in the first 12 months after the house is built. This would ensure the FHSSS is used to help purchase the saver’s home, not (say) an investment property.
7) How would the release amount be calculated?
The consultation draft provides that you would be able to withdraw up to your ‘maximum release amount’, which is equal to the sum of your eligible contributions and associated deemed earnings. If you made concessional contributions (e.g. through salary sacrifice), you would be able to withdraw 85 per cent of those contributions (reflecting the 15 per cent tax). You would be able to withdraw 100 per cent of any non-concessional contributions. Deemed earnings calculated using the Shortfall Interest Charge (currently 4.78 per cent) would be based on when eligible contributions are made up until the date release amount is determined.
Contributions made during 2017-18 would be taken to be made on 1 July 2017. Contributions in later years would be taken to be made at the start of the month they are made. To calculate earnings and count contributions towards the annual and total contribution limits of the scheme, earlier contributions would count before later ones. However, within the same year any non-concessional contributions would be counted before any concessional contributions (e.g. salary sacrifice). This would maximise the size of your deposit in most circumstances. You would be free to withdraw a smaller amount if you wished.
8) What if the deemed earnings exceed actual earnings?
Historically, super fund earnings have generally exceeded the Shortfall Interest Charge. Therefore, this policy would generally be expected to increase the funds remaining in super for individuals using the scheme. A saver would never be able to withdraw more money than is in the saver’s account(s).
9) How much tax would be withheld on withdrawal?
The ATO would withhold an amount before releasing the savings to you, to ensure that you won’t have to pay the tax in your next income tax return. The amount withheld would reflect the ATO’s best estimate of your tax payable. If the ATO could not make an estimate, it would withhold 17 per cent of the withdrawal amount.
10) What would happen if you do not buy a home in the period?
 The consultation draft provides that you must either recontribute the release amount into superannuation, or pay a tax equal to 20 per cent of the amount released from superannuation. This tax would remove the benefit of the tax concession you received by using the FHSSS, ensuring the tax concession is targeted at first-home buyers.
11) Would accessing the FHSSS affect social security payments?
No. The consultation draft excludes the release amount from means tests, to prevent double-counting of income that was included in means tests when it was first earned. The consultation draft legislation is intended to implement the FHSSS as described above. It is not yet law. The Government intends to introduce legislation into Parliament to make it law after considering the results of this consultation process.  
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j.ballantyne1990-6AQqhLzZaK

The 11 rules that FHBs need to know to benefit from the First Home Super Saver Scheme  

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Queeensland's Retail Shop Leases Amendment Act has been proclaimed, with a commencement fixed for 25 November 2016.
The amendments, which passed the Parliament in May 2015, followed a consultative review of the <a href="https://www.legislation.qld.gov.au/LEGISLTN/ACTS/2016/16AC021.pdf" target="_blank">Retail Shop Leases Act</a> throughout 2011-2013.
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jonathanchancellor-7SQnKwU6yx

Property 101: Queensland retail shop leases act amendments

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The Property Stock and Business Agents Amendment (Property Reports and Exemption) Regulation 2016 (NSW) will commence operation on 15 August 2016.
The regulation introduces a new clause, 46A, to the Property Stock and Business Agents Regulation 2014. This clause exempts real estate agents from regulation under the Property Stock and Business Agents Act 2002 (the Act) when undertaking commercial property agency work on behalf a large commercial property owner or of a related entity.
The definitions of the key terms in this clause are outlined below:
Related entity
A corporate real estate agent which is either owned or controlled by the property owner, forms part of the same corporate holding group as the property owner or, less likely, controls the property owner, is a related entity to which the new exemption applies.
Large commercial property owner
A large commercial property owner is an entity that owns a property that has an aggregate market value of $40 million or more, or an aggregate floor area of more than 20,000 square metres.
Commercial property agency work
Commercial property agency work encompasses selling, purchasing, exchanging, leasing, managing or otherwise dealing with property that is not residential property or rural land.
Reducing regulation or removing protections?
Real estate agents are currently subject to regulation when undertaking property work on behalf of commercial property owners. For example, they must be licensed, have professional indemnity insurance to cover for certain civil liabilities that arises from their conduct as an agent, undertake regular professional development, and operate their trust accounts in accordance with the requirements of the Act.
However, this new regulation exempts real estate agents from operation of the Act when acting for a related entity or for large commercial property owners. 
This change has been the subject of discussion over several years. Some believe it to be unnecessary for real estate agents engaging in commercial property agency work to be regulated when working for related entities or for clients who might be regarded as having sufficient commercial expertise and influence not to need the protections afforded by the Act.
Contrary arguments point to the fact that it is not just the agent’s principal with whom the agent deals.  Buyers and lessees ranging from large corporates to sole traders have significant interaction with commercial real estate agents and frequently entrust not insignificant sums to them by way of deposits or rent.  The removal of the protective operation of the Act in this sector of the real estate economy may not best serve the interests of the community in the long run.
Conclusion
The new regulation will only completely deregulate those commercial real estate agents who only undertake work for related entities or large commercial property owners.  The remainder of commercial agents’ activities will continue to be regulated.  It may be that these changes will affect only a small part of the commercial agency market.
For further information from Mills Oakley, <a href="https://www.millsoakley.com.au/" target="_blank">click here</a>.
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Property 101: Property Stock and Business Agents Amendment 

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<img src="https://counter.theconversation.edu.au/content/57114/count.gif" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
The New South Wales government is imposing an anti-urban legislative and development agenda on Sydney. This agenda conceptualises Sydney as centre – a privileged social, cultural and geographic core – and elsewhere.
Policies like building the multi-billion-dollar WestConnex roads system, increasing penalties and restrictions for cyclists, privatising public housing in inner-city suburbs and selling public assets have direct impacts on the existence of “the urban” in Sydney.
This agenda limits the capacity of Sydneysiders to engage with their city in diverse, improvised or alternative ways. This is despite government claims that it addresses imbalances and inequities between the centre and the rest of the city in terms of spatial advantage, job opportunities, public spending and services.
The suburbanisation of the city
One of sociologist Henri Lefebvre’s enduring contributions to urban theory and practice is the notion of the “right to the city<a href="https://au.wiley.com/WileyCDA/WileyTitle/productCd-0631191887">”</a>. Lefebvre was not merely advocating access to space in the city or its resources, but the right to be urban.
By urban, Lefebvre meant the phenomenon that emerges from the complexity, collaboration and improvisation that are possible in cities. The urban is not the product of a privileged core. Rather, it is a decentralised network of diverse communities, practices and places that give rise to cities’ convivial and inclusive potential.
While the government’s lockout laws have attracted national and international attention for their deleterious effect on urban areas, they are merely the most visible of a raft of anti-urban policies. The privatisation of public housing in Millers Point and urban renewal plans for Waterloo, which include demolishing public housing and relocating 4000 tenants, are detrimental to the social and cultural mix of the urban.
Globally, the pattern is a familiar one. Redeveloped or new housing and commerce are targeted at more affluent investors and consumers. Areas that were urban in their social and cultural mix become increasingly homogeneous.
Some commentators refer to these outcomes as gentrification. However, inner-city areas have already undergone varying degrees of gentrification. Usually this is triggered by first-wave gentrifiers, such as artists, who value urban attributes.
One pleasure of the urban is spontaneous encounters and experiences with difference. The sociologist Zygmunt Bauman has called this “mixophilia”.
Historically, the suburbs have offered a refuge for the “mixophobic”. In these places, monoculturalism is a retreat from difference. The current urban development and transformation, at the behest of state government bodies such as Urban Growth, is the suburbanisation of urban areas.
Regulating flows in the city
City governance, design and planning are largely concerned with regulating the movement of people, goods, ideas and capital. Globally, this increasingly involves the facilitation of flows that support neoliberal state and corporate agendas, and the blocking of flows that do not.
One stated rationale for WestConnex, a project involving an unprecedented transfer of public funds (A$18 billion and rising) to the private sector, is increased flows to and from the city centre.
In response to the project’s critics, the Baird government has relied on crude rhetoric which insists it is tackling the geographic and social division between an inner city populated by “cultural elites” and “chattering classes” and an under-served wider populace.
Postcode should not determine access to resources in the city. Yet Westconnex is the product of an anti-urban imagination that re-iterates the single central core, rather than multiple localised urban centres. Government support for the Commonwealth Bank’s move to the newly privatised Australian Technology Park in Redfern, instead of to Parramatta as previously planned, reinforces that view.
Combined with restrictive and punitive measures that deter cycling and proposed steep rises in public transport fares, WestConnex limits Sydneysiders’ choices for mobility around the city. It consolidates the car as a dominant mode of transportation.
Unlike public transport and cycling, the car seals us off from encounters with others. It is the least urban form of transport.
The Baird government’s policy agenda for Sydney denies the right to the city, both as the right to be urban and the right to a city that is urban. It confirms Lefebvre’s position that those who manage cities devise and implement regulatory frameworks and infrastructure that are frequently – and paradoxically – detrimental to the emergence of the urban.
 
Kirsten Seale is adjunct fellow, Institute for Culture and Society, Western Sydney University and author for The Conversation. She can be contacted <a href="https://theconversation.com/profiles/kirsten-seale-234742" target="_blank">here</a>.
<h4><a href="https://theconversation.cmail20.com/t/r-l-edhiduk-qitldhiii-c/" target="_blank"> </a></h4>
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Suburbanising the centre: the Baird government’s anti-urban agenda for Sydney

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By 2019, all Australian companies reporting under the International Financial Reporting Standards (IFRS) will be required to comply with new global rules on leasing following the release in January of a guide Lease Accounting Standard by the International Accounting Standards Board (IASB).
The Australian Accounting Standards Board (AASB) announced on March 1 it was adopting the new standard.
The new legislation will change the way leases are reported on company balance sheets and will be implemented in 2019. But listed companies will be required to start comparative reporting in 2017 which means decisions need to be taken about future assets and leases
A new paper by property services firm JLL says the impact would is potentially huge for Corporate Australia real estate occupiers. Leases will become a key feature on company balance sheets, effectively inflating assets and liabilities.
It is advising Australian corporates to start analysing the day one impact of their leased property portfolio on their financial statements.
“The new standard will meet the need for greater transparency of companies’ lease assets and liabilities, which are currently off balance sheet. However, it will be a significant administrative burden for companies to adhere to it. In particular retailers, leisure operators, banks and other companies that rely heavily on real estate leasing, will have dramatically increased financial reporting obligations,” says Sylvia Koh, head of Corporate Consulting, Asia Pacific at JLL.
Key considerations for businesses include:
* Review current real estate portfolios and lease arrangements
* Re-assess the merits of owning assets outright versus lease arrangements
* Re-evaluate lease tenure and structuring of lease (for example short-term versus long-term, rent review type and end of lease mechanisms)
“Given there will no longer be an off-balance sheet advantage of leasing, the question many companies will need to consider is – own or lease?” said Tony Wyllie, JLL’s Australian head of Corporate Solutions Integrated Portfolio Services.
“Items requiring inclusion on company balance sheets from 2019 onwards include rent payments and fixed rental uplifts.
“For companies that draw heavily on lease arrangements, we are encouraging them to start preparing now for the changes, because as early as 2017 they must start preparing comparative financial statements under the new standards to meet with annual reporting requirements.
“If the goal of companies is to minimize the impact of leases on balance sheets, then they will need to carefully assess the options of owning, future lease structures and the key commercial aspects of leases such as – lease terms, rent terms and options,” said Wyllie.
Added Koh, “Going forward we’re likely to see changes in terms of how real estate deals are structured; more companies will explore flexible options such as serviced offices and co-working spaces; and there may be increased interest in considering owning versus leasing real estate.”
She said while the changes would be gradual, companies need to act swiftly. 
“If you currently don’t have your lease data in a structured fashion that is of auditable quality, it will be important to get the right advice and resources to put it in order as the immediate first step towards complying with the new standard.”
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