One of the most significant beachfront projects ever proposed for the small suburb of Miami on the Gold Coast, has taken a major step forward.&nbsp;Monaco Property Group has secured approval for <a href="https://www.apartments.com.au/new-apartments/nalu-miami-122-marine-parade-qld-4220">NALU</a>, a $500 million development comprising just 45 ultra-luxury residences on the iconic former Nobby’s Outlook site.

Acquired by <a href="https://www.apartments.com.au/developers/monaco-property-group">Monaco Property Group</a> in 2024 for $70 million, the rare 7,238 sqm Marine Parade parcel boasts more than 80 metres of uninterrupted ocean frontage.

With approvals now secured, Monaco Property Group will move NALU into its delivery phase. The project has been designed by&nbsp;<a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, who collaborated with&nbsp;<a href="https://www.apartments.com.au/landscape-architect/ldg-landscape-architecture">LDG Landscape Architecture</a> and <a href="https://www.apartments.com.au/interior-designers/tom-mark-henry">Tom Mark Henry Interiors</a>&nbsp;to create the low-rise building, its landscaping, and interiors.

<img alt="NALU" data-entity-type="file" data-entity-uuid="3fdf578e-7cc4-4b17-bbc2-ba853522a5d8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/122_Marine_Parade_002.jpg?VersionId=zFhJWVzX0jmCO.5iIIxNELImHesTjWS4" />

Residences will range from 237 sqm layouts to beachfront homes exceeding 1,400 sqm.

At the heart of the project is a 2,200 sqm lifestyle precinct with a bathhouse, fitness centre and resort-style pool, elevated by a concierge service.

Jonathan Grasso, Co-Founder of Monaco Property Group, said the council approval marks an exciting milestone for NALU, which will launch in Q1 2026.

“The project will now progress toward construction, working alongside our world-class collaborators to bring NALU to life," Grasso said.

“Our vision is to create a legacy project for the Gold Coast, one that not only honours the history of the site but also elevates its future, setting a new standard for coastal living in Australia. NALU embodies the pinnacle of design and location and will stand as an enduring icon of prestige and liveability.”

<img alt="NALU" data-entity-type="file" data-entity-uuid="6ae8545b-87ca-4dea-90ed-ac273ec6515d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Image7.jpg?VersionId=Wnmie4bu3x2WQonnG4Pwmh39NdZVKeOV" />

Originally developed in the 1970s as Nobby’s Outlook and later refurbished in 2019 as Nalu, the property has long held a place in the local community’s coastal identity. The new vision will build on this legacy, creating luxury residences that capture ocean views while fostering a lifestyle defined by wellness, connection, and ease.&nbsp;

Beyond its residential offering, NALU will deliver significant economic benefits to the Gold Coast through job creation and opportunities for local suppliers and contractors. Construction is anticipated to commence in early 2026, with completion expected in Q3 2028.

Joel Robinson

Monaco Property Group approved for $500 million NALU apartments on Miami beach

The most elevated residential tower in Palm Beach, <a href="https://www.apartments.com.au/new-apartments/corallo-palm-beach-5-palm-beach-avenue-palm-beach-qld-4221">Corallo</a>, has officially launched this week, however only a handful of buyers will have an opportunity to buy in to the 17-storey project.

The $200 million mixed-use project includes ground floor dining and retail and is considered so valuable its developer, <a href="https://www.apartments.com.au/developers/changfa-group">Changfa Group</a>, will be staging its release of one-, two- and three-bedroom apartments and penthouses to the market.

[smartcode_project:default project_id=112194 project_image_fid=806]

<a href="https://www.apartments.com.au/project-marketer/colliers">Colliers</a> International, Director, David Higgins, said the development’s location just metres from the beach on the corner of Palm Beach Avenue and the Gold Coast Highway influenced the sculptural design by the acclaimed Plus Architecture studio.

“<a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a> locals understand the rare opportunity here at Corallo, particularly being the tallest building in the suburb and its proximity to the beach and local restaurants, and they’ve represented the bulk of pre-launch enquiries,” Higgins said.

“The orientation of the apartments captures views of the coastline from Surfers Paradise to Currumbin, and the diversity of floor plans and apartment types provide an exceptional level of choice.

“The first release includes just 59 one-, two and three-bedroom apartments and two half-floor penthouses, with flexible use designed to appeal to both owner-occupiers and investors."

&nbsp;

[smartcode_project:default project_id=112194 project_image_fid=799]

In addition to the ground floor amenity, residents will also have access to a private dedicated wellness level offering 734 sqm of resort-style amenities including a pool, cold plunge, wet deck, steam room, sauna, gym, day bed, fire pit, barbecue area, dining area and yoga/stretch deck.

The project is located within walking distance of Tallebudgera Creek, Burleigh Heads village, Currumbin Alley and Palm Beach Currumbin High School. The Gold Coast Airport is under 10 minutes away.

[smartcode_project:default project_id=112194 project_image_fid=814]

Higgins said Palm Beach remained a hotly contested suburb for home buyers, with prices doubling in the past five years.

“What makes Corallo so appealing to the local market is the diversity of apartment types and pricing, with one-bedroom apartments starting from $841,000 and two-bedroom apartments starting from $1.34 million,” he said.

“The ground floor retail and dining offering will further expand on Palm Beach’s village atmosphere and create a meeting place for locals, and those opportunities for connection are highly valued.”

&nbsp;

[smartcode_project:default project_id=112194 project_image_fid=807]

The on-site sales display, which includes a fully fitted kitchen, bathroom and bedroom, will be open until early works commence in Q1 2026. Each residence at Corallo will feature premium finishes including natural stone, artisanal brickwork, and warm copper accents.

Changfa Group has a two-decade history of delivering premium developments in Australia and internationally, having recently completed its collection of premium townhomes at Lyra, Hope Island, as well as apartment projects in Leichhardt, Carlingford, and Chatswood in New South Wales.

[smartcode_project_cta:default project_id=112194]

$200 million Corallo Palm Beach launches with limited apartment release

In a move that aligns with NSW's accelerated planning incentives for affordable housing, developer&nbsp;<a href="https://www.apartments.com.au/developers/the-one-collection">One Collection</a> has revised its Hills District apartment plans, and taken it to the NSW Government, to secure approval.

The developer, which is currently delivering Horizon Hurstville, is seeking to add 80 more apartments to its <a href="https://www.apartments.com.au/new-apartments/the-one-castle-hill-16-dawes-avenue-nsw-2154">Castle Hill development</a> near Castle Towers. They already have approval for 280 apartments across eight six-storey buildings.

<img alt="One Collection" data-entity-type="file" data-entity-uuid="b3c298ba-1cc5-4db7-9872-607c75f8ceca" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-10-13%20at%2010.19.22%E2%80%AFAM.png?VersionId=wN9KpFIu5ENSGZLLsaZgXQHrXcwEO3Vd" />

Now on the desks of the NSW Department of Planning is 360 apartments, 48 of which will be dedicated to affordable housing.&nbsp;Affordable housing is to be “fully integrated within the building and visually indistinguishable,” according to the planning submission.

The 15,697 sqm block, an amalgamation of 16 sites, spans across Dawes Avenue, Hughes Avenue, and Camdan Crescent, sits 550m from Hills Showground Metro Station.&nbsp;

"The existing context is quickly changing from free-standing homes into residential flat buildings in line with the Hills Showground Precinct planning framework," Place Studio noted.

<img alt="Castle Hill" data-entity-type="file" data-entity-uuid="3ec24948-c185-48fa-af8b-ed25adf302bf" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-10-13%20at%2010.19.04%E2%80%AFAM.png?VersionId=zNDX.IeRROX1RlDeYcS38xn8w_dqgU2t" />

They said the design was informed by the site's unique condition of having three street frontages and was developed to to respond sensitively to iots surrounding context.

"The design adopted a conventional perpendicular alignment to the primary street frontage. The massing of the development was carefully modulated to align with the evolving character of the neighbourhood. The design ensured that the scale was not excessive or out of context, but instead contributed to a cohesive urban form consistent with emerging developments in the area."

<img alt="Castle Hill" data-entity-type="file" data-entity-uuid="f83ffdaa-f960-469d-b6fe-abcece57c9ef" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-10-13%20at%2010.19.09%E2%80%AFAM.png?VersionId=4oKlCyfaKes7jLi1_EMoqa46w2h_YvDZ" />

The apartment mix will be 46 one-beds, 168 two-bed apartments, and 146 three-bedroom units, with 631 parking spaces proposed.

Along the street frontages, the building heights are four storeys with a 7.5 metre setback, and eight storeys with an 11.5 metre setback. It should cost about $150 million to build.

One Collection works hand-in-hand with the respected development and construction firm Masscon, which has built a reputation for leveraging its expertise in the built environment to take on developments others can't. That's what they're achieving at Horizon Hurstville, having taken over the project to deliver it.

First look: One Collection advances plans for Castle Hill apartments

At Yarra’s Edge, <a href="https://www.apartments.com.au/developers/mirvac">Mirvac</a>’s newest tower under construction, <a href="https://www.apartments.com.au/new-apartments/trielle-at-yarra-s-edge-docklands-16-point-park-crescent-docklands-vic-3008">Trielle</a>, sets a new benchmark for elevated living. Rising 45 storeys, 12.5 metres from the Yarra River, the landmark building offers residents access to a private wellness retreat and spa, a resident-only golf simulator, and an elegant lounge, dining and bar complete with a self-playing piano, all without ever having to leave home.

Now, that sense of elevation has reached new heights with the Aerus Sub-Penthouses, a limited release of half-floor riverfront residences on the Collins St axis where the sought-after street meets the Yarra River.

Each Aerus Sub-Penthouse, located across levels 42 and 43, represents the most expansive offering within Trielle, aside from the yet-to-be-revealed crowning penthouses. Spanning between 269 and 301 sqm, these residences are designed to capture natural light and uninterrupted views of the city skyline, Yarra River, and Port Phillip Bay.

[smartcode_project:default project_id=114216 project_image_fid=3784]

Among the collection are three-bedroom sub penthouses, complemented by a media room, and expansive four-bedroom layouts. All include panoramic living areas and oversized master suites with luxury ensuites reminiscent of a five-star hotel, complemented by dedicated dressing rooms finished in timber and natural stone.

The interiors have been crafted by <a href="https://www.apartments.com.au/architects/mirvac-design">Mirvac Design</a>, the developer’s award-winning in-house architecture and design team. Every material has been chosen for quality and longevity, from sculpted stone island benches with feature soft wash LED lighting to bespoke joinery and chevron timber oak flooring.

Kitchens are fitted with a BORA induction cooktop with integrated downdraft extractor, alongside Gaggenau appliances, including a fridge, freezer, and wine fridge. The adjoining butler’s pantry incorporates the exclusive Gaggenau Minimalistic Series including oven, steam oven, microwave, coffee machine and warming drawer, all concealed behind handleless glass panels for a clean, integrated presentation. Bathrooms feature custom Apaisar freestanding baths and basins and natural stone benchtops, continuing Mirvac’s design emphasis on tactile, timeless materials.&nbsp;

<img alt="Trielle at Yarra's Edge, Docklands" data-entity-type="file" data-entity-uuid="c00be724-b0f1-47c0-afed-54f829870704" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Aerus%20sub-penthouse.png?VersionId=Uktd61kpLSqNjwJeDFs7IaZ3xgLlDQmu" />

Michael Wiener, Design Director at Mirvac, says The Aerus Sub-Penthouse embodies the apex of Mirvac’s design ethos.

“Moving through your home is like walking on air - a private sanctuary where the craftsmanship is refined, the proportions generous, and the flow so effortless, you feel completely at ease in the sky,” Wiener says.

“In Aerus, we wanted to create a sense of weightlessness - a home that feels suspended in the skyline, full of light, grounded in luxury.”

[smartcode_project:default project_id=114216 project_image_fid=3777]

The Aerus Sub-Penthouses are expected to attract a mix of local and international buyers seeking a long-term residence of scale and quality in a riverfront setting, from returning expats to established families and business owners who value privacy, craftsmanship, and convenience within walking distance of the CBD.

With an unmatched suite of amenities, Trielle is the most extensively appointed development Mirvac has created to date at Yarra’s Edge. Within the tower will be The Oasis, a 900 sqm podium rooftop wellness retreat designed in collaboration with spa expert Naomi Gregory. Located seven storeys above the Yarra River promenade, it features a 25-metre lap pool, spa and sauna, hot magnesium spa, biophilic gym, yoga and Pilates studio, cold-pail contrast treatment, and day spa treatment rooms. Further amenities include a piano lounge, bookable dining room, cinema room, golf simulator studio, games room, teppanyaki bar, dog wash bay, and two flexible work hubs, The Biblioteca library and Mills Place office space, catering to residents’ evolving lifestyle needs.

Construction of the $350 million tower is underway through Mirvac’s in-house construction arm, with completion anticipated for mid-2027.

[smartcode_project_cta:default project_id=114216]

Sky-high sanctuaries: Mirvac unveils The Aerus sub-penthouses at Trielle

<a href="https://www.apartments.com.au/developers/jwland-development">JWLand</a>’s De Burgh, the final residential release within the Northbourne Village precinct in Lyneham, is nearing completion just as the Federal Government’s Home Guarantee Scheme prepares for its most significant expansion to date.&nbsp;

From October 2025, the scheme will allow first home buyers to enter the market with just a five per cent deposit and no lenders mortgage insurance (LMI), removing some of the most common barriers to ownership.

With <a href="https://www.apartments.com.au/new-apartments/de-burgh-at-northbourne-village-40-de-burgh-street-lyneham-act-2602">De Burgh</a> on track for residents to move in by late spring 2025, the timing creates a strong opportunity for first home buyers seeking brand-new apartments in Canberra’s sought-after Inner North.&nbsp;

[smartcode_project:default project_id=139989 project_image_fid=212888]

The project delivers 350 residences across two buildings, with layouts ranging from compact studios through to one, two, and three-bedroom apartments.

JWLand has tailored the development for long-term liveability, integrating natural light, privacy and outdoor space into each home. Ground-floor residences feature private courtyards, while upper levels benefit from generous balconies.

Kitchens are fitted with Fisher &amp; Paykel appliances, and all apartments include ducted reverse-cycle air conditioning with smartphone app control for lighting and climate.&nbsp;

Shared resident facilities include a rooftop garden, gym, lounge and parcel lockers, alongside landscaped green space within the precinct.

[smartcode_project:default project_id=139989 project_image_fid=267376]

For buyers, the expanded Home Guarantee Scheme removes income caps and introduces unlimited places, making it more accessible than ever. With most De Burgh apartments priced under $1 million, they fall well within the updated eligibility thresholds.

The policy changes provide first home buyers with greater certainty and a smoother path to finance. Combined with the quality and location of De Burgh, the expanded scheme is expected to draw a new wave of buyers to Canberra’s Inner North.

Residents will benefit from the project’s central setting, just 600 metres from the light rail and three kilometres from Canberra’s CBD. The precinct is bordered by the <a href="https://www.apartments.com.au/developments/lyneham-act-2602">Lyneham</a> wetlands and sits within easy reach of cafes, restaurants, schools and the ANU.

With completion scheduled for late 2025, De Burgh is set to be among the first major apartment projects to meet the expanded scheme head-on, offering first-time buyers a realistic pathway to ownership in one of Canberra’s most connected neighbourhoods.

[smartcode_project_cta:default project_id=139989]

JWLand’s De Burgh aligns with expanded Homebuyer Scheme, opening doors for first home buyers in Canberra’s Inner North

Leisure

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The Brisbane heritage-listed Princess Theatre in Woolloongabba is up for sale through Knight Frank. 
Built in 1888, the <a href="https://www.propertyobserver.com.au/https://www.knightfrank.co.uk/properties/commercial/for-sale/8-annerley-road-woolloongabba-qld-4102/5301470" target="_blank">Annerley Road property</a>, which was originally built for prominent Brisbane solicitor Phillip Hardgrave, consists of a large two-storey theatre and three retail tenancies on a 1103 sqm block.
The <a href="https://www.brisbanetimes.com.au/national/queensland/heritage-listed-brisbane-theatre-up-for-sale-20200224-p543md" target="_blank">132-year-old property</a> has been owned by Lifecity Church for the past 13 years, and has hosted other events, including wedding ceremonies, live music, school productions, private and corporate functions, theatre productions, trivia nights and fundraisers. The Princess Theatre has also recently been extensively refurbished, it has undergone recarpeting, repainting, floor polishing, and a new lighting and sound system. 
With Lifecity Church relocating to a more suitable location, the property is being taken to the market by Adam Willmore and Christian Sandstrom of Knight Frank. The expressions of interest campaign for this property closes March 19, 2020. 
The 500-person theatre was last sold in 2003 for $950,000, and $451,000 in 1992.
Mr Willmore said the Princess Theatre, which has 20 metres of street frontage to the busy street, "will generate significant buyer interest due to the scarcity factor and its stellar location, situated in the heart of Woolloongabba close to the Mater Hospital and less than two kilometres from the CBD.
"Woolloongabba is benefiting from investments in both public and private sector. The recent urban renewal and new development occurring within the suburb is redefining the suburb as a key southern 'gateway' into the city.
"The property adjoins retail amenity with plenty of parking and is occupied by two retail tenancies on the ground floor including a barber and café, along with a small office space." 
The theatre was first named the South Brisbane Public Hall and was designed to provide the rapidly expanding surrounding population with a communal venue that would become the perfect location for theatre, lectures, balls, musical performances and other public gatherings.
Over the years, the site has experiences a number of different incarnations, including being used as a clothing factory, a movie house, and the main site which hosted the rehearsals and administration for the US Entertainment Unit during World War II.
Lifecity Church director and venue manager, Frances Koops said she hoped the theatre would be purchased by someone who would make it available for enjoyment of the community for many years to come.
"The theatre is such a valuable piece of history, with so many drawn in by its old world charm and beauty," she said. 
 
 
 
 
 
 
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Brisbane's heritage-listed Princess Theatre up for sale

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The ZEN beach retreat in Bargara, Queensland has been listed for $4 million.
Occupying 1,315 sqm of beach front property, the holding comprises 11 bedrooms, 6.5 bathrooms and a reception area.
Fronting Kelly's Beach at <a href="https://www.propertyobserver.com.au/%20https:/www.realestate.com.au/property-house-qld-bargara-131731574" target="_blank">54 Miller Street</a>, Violette Sinclair and Joshua Rub of Raine and Horne are marketing the listing.
The retreat won the new "Business Award of the Year" in 2018 and seized the overall prize of  "Auswide Business of the Year 2018". 
It holds uninterrupted views of the ocean and its horizon on one side and a deck overlooking the 10-meter Magnesium therapeutic pool and Bali Hut on the other. 
Comprising a three bedroom main residence plus four two bedroom villas, the main residence comes equipped with a wellness sanctuary and an intense hydrotherapy spa.
Situated on the coastline of the Southern Great Barrier Reef, it is only 13km to Bundaberg and 375km to Brisbane.
A one night stay in the Executive Suite costs $704.
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ZEN Beach Retreat in Bargara for sale

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Stronghold Investment Management has acquired the Cardinia Club, a freehold investment in Melbourne’s Pakenham. 
Stronghold purchased the property as a trustee for the Stronghold Hospitality Property Trust No.15, a Brisbane based fund manager with several freehold investments in the hospitality industry. 
The Cardinia Club has 105 EGM’s, a large bistro, upmarket sports bar and multiple function rooms. 
The venue was originally part of the Pakenham Racecourse before the Pakenham Racing Club moved its operations to a new racing facility at Tynong North. 
CBRE Hotels negotiated the sale on behalf of the Pakenham Racing Club with a new 13-year lease to Pakenham Racing Club.
Stronghold is projecting an initial cash return of 7.5% per annum for its wholesale investors.
“This gaming investment generated a significant level of interest from the market, but it took an informed investor like Stronghold to recognise the strength of this opportunity with Pakenham Racing Club as its tenant,” Callow said. 
Steve de Nys, Head of Property at Stronghold, commented the club established in 1875, had 160 employees and three venues.
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Investment management company Stronghold snaps up $16 million Cardinia Club, Pakenham

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Caulfield’s Southern Indoor Bowls Club has been listed for sale with price expectations of around $9 million.
The bowls club at 350 Hawthorn Road was established over five decades ago back in 1968.
In recent years however given the improvement in technology and better management of outdoor bowls surfaces, the once popular-sporting venue has become redundant.
The three-level building has 10 full-sized rinks and a mezzanine bar and lounge.
Savills Australia’s Clinton Baxter, Nick Peden and Glenn Ye have been appointed to market the expansive 2,295 square metre property.
Baxter said its size and development potential will drive the sale of the building which will be sold with vacant possession, except for a rooftop telecommunications lease.
<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/2019/5/13/Bowls-Club1.jpg" alt="">
“The property occupies a huge site with a 45-metre frontage to Hawthorn Road, has rear laneway access and is zoned for Commercial 1, providing excellent future development versatility,” Baxter said.
“It represents an outstanding opportunity to develop, owner-occupy or value-add for a wide range of possible uses.”
About two thirds of the land is occupied by a large three-level building comprising two indoor bowling rinks, but Baxter said indoor bowling facilities were being replaced with more versatile outdoor lawns.
“The combination of a dryer climate, far better drainage systems and the use of synthetic grass means that bowlers can now typically play year round on outdoor bowling greens,” he said.
“With membership dwindling, the Southern Indoor Bowls Club has elected to sell up and distribute the significant funds to local lawn bowling clubs.”
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Caulfield’s Southern Indoor Bowls Club listed

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Sydney’s Belfield Bowling Club is selling off two bowling greens, allowing it to reinvest in the club to ensure its ongoing appeal to a younger generation of players. 
The Club will retain ownership of one green and the existing clubhouse.
The Belfield property sits 13 kilometres south west of Sydney in the Canterbury-Bankstown area.
CBRE’s Peter Vines, Victor Sheu and Robert Dowdy are marketing the two greends, as well as the car park, which span a total site area of 4,000 sqm.
The site is permissible for residential, aged care, child care, affordable housing developments and place of public worship (STCA). 
Vines said the sale would enable Belfield Bowling Club to invest in the future, while unlocking a unique development opportunity in Sydney’s tightly held inner-west. 
“Bowling clubs have been at the heart of Australian communities for decades, being the focal point for meetings, events, wedding receptions and a host of other community activities," Vines said.
"In more recent years however, closures have become more common, with reduced membership numbers due to an ageing population and demand for space in the city at a premium."  
Over the past decade, there have been 89 bowling club closures across NSW, with 508 clubs still in operation, including 100 clubs in the Sydney metropolitan area. 
Robert Dowdy said in the face of headwinds, clubs were reinventing themselves in order to attract a new generation of players. 
“Many clubs have found new members by embracing barefoot bowls – a more relaxed approach to the game that allows participants to be casually dressed and partake in friendly competition,” Dowdy said.
The Greens of North Sydney transformed itself into a more trendier place for younger people to socialise. 
“Clubs are also freeing up bowling greens for beer gardens alongside restaurants/bistros – or, as evidenced with this Belfield Bowling Club, divesting parts to spark development and attract new clientele.” 
 
 
 
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Sydney's Belfield Bowling Club lists two of its bowling greens

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Joel Cann has resigned from Aspen Group to pursue another opportunity.
His resignation will take effect on Friday 12 April 2019.
Clive Appleton, chairman of Aspen Group, has thanked Cann for his efforts over the past two and a half years.
The listed property minnow Aspen Group appointed the property veteran in September 2016.
Cann joined Aspen from AMB Capital Partners, where he was the founding managing director.
Last month Aspen Group announced its financial results for the year ended 31 December 2018 recording a statutory profit of $0.4 million, the significant components of which include:
<ul>
<li>
Operating profit after tax of $1.5 million
Offset by:
</li>
<li>
Revaluation decrement of $0.7 million;
</li>
<li>
Acquisition costs incurred of $0.2 million; and
</li>
<li>
Professional fees of $0.2 million.
</li>
</ul>
Cann said 1H FY19 continued the significant steps taken towards a goal of being a major owner and operator in the Australian affordable accommodation sector.
It acquired its sixth tourism park, Highway 1 in Adelaide SA, which was settled in Q2 FY19.
The acquisition was valued at $23 million.
He noted headwinds at a number of assets including Darwin FreeSpirit where corporate accommodation demand fell in line with reduced major project activity, Adelaide came off of a strong FY18 period that include Ashes and major event activity whilst Tomago reduced available inventory pending the redevelopment work to be undertaken in that business.
Development activity significantly advanced during the half with the majority of civil works completed at Four Lanterns in Leppington NSW.
There are 11 residences on site with sales activity resulting in five confirmed sales.
It has also commenced initial works at Tomago in preparation for stage 1 of the 52-site expansion.
The sale of its final non-core asset at Midland WA was completed during 1H FY19, bringing to a conclusion the restructure of the group to an affordable accommodation provider.
The business finished in a net debt position of $16.3 million at the end of the year, post the Highway 1 acquisition, and has $25 million of capacity to deploy towards future acquisitions and investments.
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Joel Cann resigns as listed accommodation firm Aspen Group's chief executive

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The Tasmanian Walking Company (TWC) has announced the official opening of Australia’s most environmentally friendly lodges with the unveiling of Three Capes Lodge Walk.
The four-day 46 km walk offers a fully guided experience of the ‘edge of the world’ Three Capes Track, located in the Tasmanian National Park, and is the newest addition to the 'Great Walks of Australia' collection.
Three Capes Lodge Walk is the fourth multi-day walk for TWC.
Brett Godfrey, Co-owner said, "Today marks an important milestone in Australia’s walking landscape and a new era of conservation-based tourism."
Andrew McEvoy, Chairman, Great Walks of Australia said, “Tasmanian Walking Company has set a new benchmark... the lodges are a reflection of the iconic and remarkable landscape and focus on ecological preservation, utilising best practice environmental technologies from around the world." 
<img src="https://www.urban.com.au/images/2018/9/5/Cape%20walks%202.JPG" alt="">
Advancements include Australia’s first recycling showers, they are a Swedish design that filters and recirculates 5 Litres of shower water and requires 80% less energy consumption.
The lodges feature 7 double/optional twin rooms with floor to ceiling windows. The lodge menus have been designed with seasonal dishes made from locally sourced ingredients.
The Relaxation Pavilion at Cape Pillar Lodge offers a spa therapist available onsite exclusively for walking guests, as well as featuring an outdoor bath.
Three Capes Lodge Walk commences with a private boat trip to Denman’s Cove. Walkers then travel along the coastal woodlands to Surveyors Cove.
Day two walkers climb Arthur’s Peak and skirt the edge of Tornado Ridge.
Day three is a walk through silver gum forest, and out to the highest sea cliffs in Australia at Cape Pillar.
The final day of the walk climbs to 483 metres above sea level to the walk’s highest peak, Mount Fortescue.
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Australia's most sustainable lodges open - Three Capes Lodge Walk 

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The former Casuarina Ocean Health Retreat, which sold for $4.1 million less than two years ago, is back for sale - asking double its last sale price.
The property at <a href="https://www.commercialrealestate.com.au/property/770-casuarina-way-casuarina-nsw-2487-2014552878" target="_blank">770 Casuarina Way</a> was also known as the Cabarita Ocean Health Retreat before it was shut down in 2015 by its then Brisbane family owners.
They decided to develop and 18-lot subdivision on 2.5 hectares behind the retreat. The area included the resort's tennis court and swimming pool.
They listed the property for $6.5 million, with Bruce Williams, the listing agent at the time, saying it was being sold "well below replacement cost". It went on to sell for $4.1 million after sitting idly on the market.
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Raine &amp; Horne Byron Bay agent Sophie Christou, the listing agent this time round, said its $8 million to $8.8 million guide is still below replacement value.
The resort dates back to the 1970s when developed by Cabarita identity Ken Hansen. It has passed through the hands of several owners and run as a holistic health spa before ending up with the Brisbane family.
Until a few year ago, guests were paying up to $1045 a day to stay there, indulging in detoxifying therapies, massages, consultations with a naturopath and macrobiotic foods.
The retreat with direct access to Casuarina Beach boasts 12 bohemian inspired ensuited bedrooms, a day spa with six treatment rooms, gym, and a yoga room.
There's approval for a restaurant or cafe open to the public, as well as approval for a 25 metre swimming pool and an extra gym.
A rooftop terrace has views to Mount Warning.
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Byron Bay's former Casuarina Ocean Health Retreat wants double its 2016 sale 

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A Dural function centre has been sold through Cushman &amp; Wakefield.
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<div class="text animate" data-bind="html: descriptionExpandableTextArea.displayText, css: { collapsed: !descriptionExpandableTextArea.isExpanded(), animate: descriptionExpandableTextArea.animate }, element: descriptionExpandableTextArea.textElement, attr: { style: descriptionExpandableTextArea.style }">The 632 Old Northern Road, Dural property (pictured above) was sold at auction for $5.5 million acting under the instructions of the agent of the mortgagee, Ian Purchas of SV partners.</div>
<div class="text animate" data-bind="html: descriptionExpandableTextArea.displayText, css: { collapsed: !descriptionExpandableTextArea.isExpanded(), animate: descriptionExpandableTextArea.animate }, element: descriptionExpandableTextArea.textElement, attr: { style: descriptionExpandableTextArea.style }"> </div>
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<div class="text animate" data-bind="html: descriptionExpandableTextArea.displayText, css: { collapsed: !descriptionExpandableTextArea.isExpanded(), animate: descriptionExpandableTextArea.animate }, element: descriptionExpandableTextArea.textElement, attr: { style: descriptionExpandableTextArea.style }"> </div>
<div class="text animate" data-bind="html: descriptionExpandableTextArea.displayText, css: { collapsed: !descriptionExpandableTextArea.isExpanded(), animate: descriptionExpandableTextArea.animate }, element: descriptionExpandableTextArea.textElement, attr: { style: descriptionExpandableTextArea.style }">The holding currently contains a vacant 5 bedroom house at the rear of the 7551 sqm block. </div>
<div class="text animate" data-bind="html: descriptionExpandableTextArea.displayText, css: { collapsed: !descriptionExpandableTextArea.isExpanded(), animate: descriptionExpandableTextArea.animate }, element: descriptionExpandableTextArea.textElement, attr: { style: descriptionExpandableTextArea.style }"> </div>
<div class="text animate" data-bind="html: descriptionExpandableTextArea.displayText, css: { collapsed: !descriptionExpandableTextArea.isExpanded(), animate: descriptionExpandableTextArea.animate }, element: descriptionExpandableTextArea.textElement, attr: { style: descriptionExpandableTextArea.style }">The block hold two large function rooms and is zoned RU6 Transition.</div>
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Dural function centre sold for $5.5 million

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Sydney's iconic The Basement, the oldest jazz and blues club in Australia, has been taken over by musical entrepreneur and property developer Albert Dadon.
Dadon, a leading jazz guitarist himself, plans to re-open the club as soon as possible after the doors were closed last month.
It's not Dadons first foray into jazz club ownership. He has been somewhat of a pioneer of keeping Australia's jazz music scene alive over the past two decades.
He rescued the Melbourne International Jazz Festival when its funding was cut. 
In eight years Dadon increased its visitors from 5,000 to 200,000 before stepping down in 2009.
He owns the Jazz Corner Hotel on Williams Street in the Melbourne CBD.
Recently he opened Bird's Basement below, a sister venue of Manhattan's Birdland. 
Speaking on the acquisition, Dadon said he is examining possible Sydney CBD locations for the club. He is appealing to the public and others to suggest a suitable venue. 
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‘’I was saddened to see The Basement close its doors. It was a loss to the cultural health of the city and Australia," Mr Dadon said. 
“I hope that with the help of those who are committed to retain and reinvigorate Sydney’s music scene we will find an ideal new location of The Basement."
“I would love to provide Sydneysiders with a wonderful 21st century experience, similar to what we created in Melbourne at Bird’s Basement," he says.
"In the meantime we will be looking at broadcasting all our shows live from Melbourne in our soon to be launched app."
In 2002, Dadon, who when performing goes by the stage name Albare, established the annual Australian Jazz Bell Awards.
They were named after Australian legend and patron of the event the late Graeme Bell to celebrate excellence in Australian jazz scene. Today ‘the Bells’ are the most prestigious awards in the Australian jazz calendar. 
As Albare, he often performed at the Sydney Basement.
He has recorded 11 albums.
With his long time pianist companion Phil Turcio, their band, Urbanity, and their album Urban Soul album, this year enjoyed Billboard chart and critical success in the United States. Urban Soul is distributed in Australia by MGM.
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