Iwan Sunito's vision for a landmark mixed-use precinct in Sydney's Inner West has taken a major step forward, with approval granted for the $1.9 billion Five Dock development first unveiled earlier this year.

The approved scheme by <a href="https://www.apartments.com.au/developers/one-global-capital">One Global Capital</a> will deliver an 80,500 sqm mixed-use precinct comprising 840 apartments, integrated hotel accommodation, commercial and retail space, alongside publicly accessible open space designed to create a new destination for the growing suburb.

"This is a significant milestone for One Global Capital and for the future of housing delivery in Sydney," Sunito said.

"The Housing Delivery Authority was established to identify major housing projects capable of delivering meaningful supply more efficiently, and we are delighted that Spencer Street has been recognised as one of those projects.”

He said the declaration reflected the rapid progress achieved since acquiring control of the site.

"In less than seven months we have progressed from taking control of the site to securing entry into one of the NSW Government's most important planning pathways. It reflects the experience of our team, the strength of our consultant group led by Urbis, and our long-term commitment to delivering transformational projects that contribute to Sydney's future."

When the project was revealed earlier this year, Sunito described the opportunity as one of the strongest development sites he had worked on.

"I probably hadn't appreciated the uniqueness of the site until more recently when putting together the concept plans," Sunito said.

"The proximity to the water, and the golf course opposite, is unlike any other part of Parramatta Road. We have a unique position and view corridors over the water that makes this one of the best sites I've worked on."

The development has evolved since its initial announcement, with the approved plans increasing the residential component from the originally proposed 750 apartments to 840 homes while retaining the project's focus on creating an integrated neighbourhood rather than a standalone residential development.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/a-city-within-a-city-iwan-sunito-flags-1-5-billion-mixed-use-precinct-in-five-dock">"A city within a city": Iwan Sunito flags $1.5 billion mixed-use precinct in Five Dock</a>

The precinct will combine apartments with hotel accommodation, commercial workplaces, retail offerings and public spaces, creating a mixed-use environment intended to serve both residents and the broader Five Dock community. The proposal also continues the collaboration between One Global Capital and internationally recognised architect <a href="https://www.apartments.com.au/architects/koichi-takada-architects">Koichi Takada</a>, whose previous work with Sunito includes Infinity, Arc and Skye North Sydney.

Takada previously said the design was driven by a philosophy of integrating nature into the built environment.

"The concept for this development is born from our design approach to naturalising architecture," Takada said.

"The public realm benefits from biophilic design that integrates generous landscaping, and the development is optimised for natural daylight, airflow and water views to foster wellbeing, sustainability and spaces that foster community interaction."

Sunito has consistently described the project as a "city within a city", with a strong emphasis on creating a destination that extends beyond housing.

"We want to create a development that's not only to be seen, but to be experienced by the whole local community," he said.

The approval comes as Five Dock continues its transformation ahead of the opening of the Sydney Metro West line, with the new Five Dock station set to significantly improve connections between the Inner West, Parramatta and the Sydney CBD.&nbsp;

The precinct will also benefit from its proximity to the Parramatta Road corridor, nearby waterfront parklands and established retail and dining offerings that have made Five Dock one of Sydney's most tightly held Inner West suburbs.

Joel Robinson

Iwan Sunito secures approval for $1.9 billion Five Dock mixed-use precinct

The new <a href="https://www.apartments.com.au/new-apartments/yarraville-green-42-stephen-street-yarraville-vic-3013">Yarraville Green</a> development in Melbourne's inner west is showing that landscaping can be just as influential as architecture, with buyers responding strongly to the garden-first approach adopted from the outset by developer Excelon Projects and the project's design team.

Excelon appointed Six Degrees Architects and landscape architects SBLA to work collaboratively on the development, with a brief to create "a sustainable, design-led building with a focus on community."

That approach has resonated with buyers. According to Next Chapter Director Tom Hirini, who is leading the sales campaign, the landscaped communal garden has become one of the project's defining features, alongside its boutique scale and European-inspired cluster housing concept.

Local downsizers, right-sizers and established families already living in Yarraville and surrounding suburbs have accounted for the majority of purchasers.

[smartcode_project:default project_id=144913 project_image_fid=297740]

Yarraville Green will comprise 53 homes, including apartments and townhomes, arranged around the shared central garden to maximise connections to the landscaped open space. Parking has been moved underground, allowing the ground plane to be dedicated to greenery, pedestrian movement and communal spaces.

The landscape extends well beyond passive planting. Productive garden beds, a pergola, communal gathering spaces, garden sheds and a pet wash have all been integrated into the masterplan, creating spaces designed to encourage everyday interaction between residents.

[smartcode_project:default project_id=144913 project_image_fid=297741]

The interiors continue Excelon's focus on craftsmanship, incorporating bespoke elements by Melbourne artisans including leadlight detailing by Adadaz, hand-turned timber hardware by Auburn Woodturning and blown-glass lighting by Ruth Allen.

Sustainability has also been embedded throughout the project, with Yarraville Green targeting an average 7-star NatHERS energy rating through passive design principles, rooftop solar servicing common areas and rainwater harvesting for landscape irrigation.

[smartcode_project:default project_id=144913 project_image_fid=297735]

Construction continues to progress at Yarraville Green, with structural works well underway and framing works approaching completion under builder Balmain &amp; Co. The project remains on track for completion in mid-2027.

Apartments at Yarraville Green are currently priced from $625,000, while townhomes start from $1.4 million.

[smartcode_project_cta:default project_id=144913]

Garden-led design drives buyer demand at Yarraville Green

National diversified developer Fortis has officially launched Crest &amp; Walker, its latest Brisbane apartment development, with construction now underway on the 20-storey Newstead project.

Award-winning builder BINAH has commenced construction on the Bureau^Proberts-designed building, which will deliver a limited collection of 65 two and three-bedroom apartments on Kyabra Street.

[smartcode_project:default project_id=145922 project_image_fid=373556]

The project marks Fortis' fourth active residential development in Brisbane, following River House, which is nearing completion, alongside projects in New Farm and Hamilton as the national developer continues to expand its South East Queensland pipeline.

Fortis General Manager – Development Queensland Dan Boman said Crest &amp; Walker reflects the developer's long-term commitment to delivering design-led residential projects in Brisbane's established inner-city suburbs.

"We're proud to be strengthening our presence in Brisbane with Crest &amp; Walker, particularly in such a sought-after lifestyle destination as Newstead," Boman said.

"Every Fortis project is shaped by its context, and we approach each one with the respect and care it deserves.

"Our focus is always on creating places that feel connected to their neighbourhood and elevate the everyday experience for residents. Newstead continues to evolve as one of Brisbane's most sought-after urban communities, and Crest &amp; Walker reflects our ambition to contribute meaningfully to that story."

[smartcode_project:default project_id=145922 project_image_fid=373559]

Positioned between Gasworks Plaza and James Street, <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a> has been designed as a boutique residential address offering privacy and generous living spaces within one of Brisbane's most established lifestyle precincts.

The building features a contemporary brick podium softened by integrated landscaping, while the upper levels are characterised by restrained architecture and enduring materiality. Interiors have been designed to maximise natural light, acoustic performance and long-term liveability.

[smartcode_project:default project_id=145922 project_image_fid=373583]

Residences comprise spacious two and three-bedroom floorplans, with two-bedroom apartments priced from $1.55 million and three-bedroom, half-floor residences from $3.95 million.

Residents will have access to a wellness-focused rooftop featuring a swimming pool, sauna, steam room, landscaped dining spaces and outdoor lounge areas overlooking Newstead and the Brisbane CBD.

[smartcode_project:default project_id=145922 project_image_fid=373571]

Sales are being managed by Slaite Projects, with Fortis expecting strong demand from owner-occupiers seeking a high-quality, design-focused apartment in one of Brisbane's most tightly held inner-city suburbs.

Completion of Crest &amp; Walker is slated for late 2028.

[smartcode_project_cta:default project_id=145922]

Fortis expands Brisbane pipeline with launch of Crest & Walker in Newstead

The enormity of delivering a true skyscraper in Australia's new development market is often overlooked.

It has taken the best part of a decade since plans for Chevron One were first unveiled, but the 41-storey tower is now complete, with residents collecting their keys and moving into what has become one of the Gold Coast's most recognisable new landmarks.

Rising 127 metres above Chevron Island, Chevron One stands almost twice as high as any other building on the island. Its scale places it alongside the trio of towers at Jewel, arguably the last truly significant addition to the central Gold Coast skyline when they were completed around six years ago.

While there are several developments underway around a similar height to Chevron One, they are more concentrated within clusters of the highest towers in the city. The fact Chevron One sits within a developing precinct, looking back at the other high-rise developments in Surfers Paradise and Broadbeach, makes it a different proposition altogether. It will certainly become a reference point on the Gold Coast skyline.

[smartcode_project:default project_id=6515 project_image_fid=68833]

Developer Bensons Property Group is behind the 41-storey tower, which has 229 apartments, along with an exhaustive list of resident amenity spread across what is the largest development site ever assembled on Chevron Island.

The tower has been the talk of the town for years, says Ray White Projects Gold Coast agent Caitlin Rosenboom, who is selling the remaining apartments.

"People have been watching Chevron One go up for years," Rosenboom says, adding that many prospective buyers have been surprised by the scale of the views once they step inside.

"It's only when they walk through a completed apartment that they truly understand the position of the building," Rosenboom says.

"The views are jaw-dropping. Whether you're looking east over the ocean, across Surfers Paradise, along the river systems or out to the hinterland, every level offers something different but equally impressive."

[smartcode_project:default project_id=6515 project_image_fid=360215]

One of Chevron One's defining advantages is its location on the eastern side of Chevron Island on Stanhill Drive, a position which protects the views forever.

"There's only one row of houses between Chevron One and the water, and the height restrictions along the river means views from Chevron One can never be built out,"&nbsp;Rosenboom says.

While new apartment developments continue to emerge across the Gold Coast, Rosenboom says opportunities to secure a completed apartment with this level of outlook are becoming increasingly rare.

"The size of the site is something that would be incredibly difficult to replicate today," she says.

"That's allowed Chevron One to deliver the sort of amenity, open space and resident facilities that very few projects can offer. There are not many completed apartment buildings on the Gold Coast right now that can compete with the combination of scale, quality and amenity."

[smartcode_project:default project_id=6515 project_image_fid=68839]

There's around 2,000 sqm of amenity solely for the use of residents of Chevron One. Club One features a uniquely shaped swimming pool that mirrors the footprint of the building itself, set within a extensively landscaped gardens. There's also an indoor pool and spa, a fully equipped gym with a Pilates room, a yoga garden, a bookable private dining area and lounge that can host up to 30 people, and a 24-hour concierge service.

As for the buyers, Rosenboom is fielding enquiry from everywhere: Sydneysiders and Melburnians looking at the new and off-the-plan market following the changes in the Federal Budget, as well as those looking to relocate, through to South East Queenslanders seeking either a permanent home or a weekender bolthole.

"The Gold Coast lifestyle continues to resonate with people relocating from the southern states, and when they see the views and the quality of what's been delivered at Chevron One, it becomes very easy for them to understand the appeal," Rosenboom says.

A diverse mix of one, two and three-bedroom apartments remain available, with each offering "something a little different", be it the orientation and views, configuration, or level, to suit a wide variety of buyers.

The remaining apartments are ready to inspect in person, by appointment.

[smartcode_project_cta:default project_id=6515]

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

A general rule of thumb in new apartment developments is that the penthouses get the rooftop.

It's a formula that's become commonplace across Australia's apartment market. Residents might have access to a pool, gym or barbecue facilities on a dedicated lower level, but the most desirable outdoor spaces are typically reserved for the highest-priced homes at the top of the building.

<a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> has taken the opposite approach.

Rather than dedicating the rooftop to a handful of buyers, the Gold Coast developer has made it the centrepiece of its Flourish collection, creating expansive shared spaces from the best vantage point in the building.

The philosophy has reached its most ambitious expression at <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> in Palm Beach, where two rooftop precincts connected by a skybridge will deliver one of the most extensive lifestyle offerings seen in a residential apartment project on the Gold Coast.

[smartcode_project:default project_id=150017 project_image_fid=374053]

"We're seeing a clear move toward developments that offer more than just an apartment," Sherpa Group founder Christie Leet said.

"People want spaces that support how they actually live, whether that's working from home, staying active, or spending time with family and friends.

"That's where amenity becomes critical. It's not just about what's included, but how those spaces are designed to be used every day."

[smartcode_project:default project_id=150017 project_image_fid=374052]

The breadth of amenity has already attracted buyers across multiple demographics. Younger first home buyers have been drawn to Soleira's one-bedroom apartments, a product rarely delivered in Palm Beach, while families have responded to practical inclusions such as the shallow children's pool adjoining the main lap pool and the extensive communal recreation areas.

Instead of a single rooftop, Soleira delivers two distinct lifestyle zones.

[smartcode_project:default project_id=150017 project_image_fid=372547]

The southern rooftop has been dedicated to wellness, featuring a gym, yoga and Pilates studio, work-from-home facilities, a wellness centre, spa, and hot and cold plunge pools.

The northern rooftop focuses on recreation and entertaining, incorporating a heated resort-style pool, private dining rooms, pizza ovens, barbecues, a golf simulator, children's recreation areas, and what is expected to be the Gold Coast's first rooftop basketball court, which will also double as a squash court.

[smartcode_project:default project_id=150017 project_image_fid=374054]

Beyond the rooftops, Soleira will introduce 1,500 sqm of curated retail beneath the towers, creating one of Palm Beach's first genuinely mixed-use lifestyle precincts where cafés, restaurants and convenience retail become part of residents' everyday lives.

Sherpa has also retained management rights across the development, allowing it to oversee the long-term operation of the building through a 24-hour concierge model. The developer is also exploring additional revenue streams within the precinct aimed at helping offset ongoing body corporate costs for residents.

[smartcode_project:default project_id=150017 project_image_fid=370962]

While Soleira is the largest project Sherpa has delivered, the rooftop-first philosophy has been evolving for several years.

It began with <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>, the first project released under the Flourish brand. Rather than competing at the ultra-luxury end of the market with oversized half-floor and full-floor residences, Sherpa focused on creating lifestyle-driven apartments supported by resort-style shared spaces.

Amargo introduced more than 800 sqm of rooftop amenity, combining wellness facilities, heated pools, entertaining areas, cabanas, pizza ovens and private dining spaces into what was designed as an extension of residents' homes rather than a facility used only occasionally.

[smartcode_project:default project_id=146527 project_image_fid=366550]

That approach continued with Flourish Oasis, where the same amenity-led philosophy was refined into a more boutique development. Strong demand from Sherpa's growing VIP database saw much of the project sold before it reached the broader market, reinforcing buyer appetite for apartment communities centred around shared lifestyle experiences.

Flourish Amargo is slated for completion mid-way-through next year, with Oasis to be delivered by late 2027. Flourish Soleira is expected to complete in 2030.

[smartcode_project_cta:default project_id=150017]

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

Mining

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Purchasing property in resource-driven towns often seems like a sound investment.
Big mines can draw thousands of workers, driving up demand. Meanwhile, local incomes may increase significantly, and investors are often attracted to mining towns by the promise of high yields and fast capital gains.
But the rivers of gold can't always last. Mining town investments are also characterised by their volatility, given their exposure to single industries. Yesterday, Property Observer reported that some former mining town "hotspots" are recording price drops of <a href="/expert-insights/investing/from-hotspot-to-bloodbath-property-investment-in-australias-mining-towns">up to 40%</a> from their previous peaks.
While some defend the profitability of mining town property investments, others choose to steer clear.
Property Observer took the question to leading property experts: Can property in a mining town ever be a safe investment?
Margaret Lomas: Author, television host and <a href="https://destiny.com.au/dotnetnuke/en-au/home.aspx" target="_blank">Destiny </a>founder<img src="/images/authors/fullbody/Margaret-Lomas3.png" alt="" style="float: right;">
It never ceases to amaze me how property investors think simply about an asset's present performance when buying, and never consider all of the valid and crucial factors which must be considered before making any investment.
This is what makes mining town investors leap in to investments where the performance is completely linked to a single industry and the overall global economy in a way which can result in serious disaster.
When you become a property investor you must decide whether you intend to be a buy and hold investor or a speculator. A mining town investment is a speculative investment, yet those who buy them behave like a buy and hold investor - they buy in on the way up (and usually when it's too late) and then hold well past the use by date - often resulting in serious losses and abysmal yields when the area plunges on the back of reduced demand for resources.
Make no mistake - all mining town investments are extremely speculative and require precise market timing, both in and out.
Those buying in a mining town must not only have a very large appetite for risk, they must have the capacity to hedge - in other words, hold enough other assets so that, when the area falls in value, the loss can be offset with other stable assets, rather than result in the investor owing more than they own.
Terry Ryder: <a href="https://www.Hotspotting.com.au" target="_blank">Hotspotting.com.au</a> founder<img src="/images/authors/fullbody/Terry-Ryder.png" alt="" style="float: right;"> Can a mining town ever be a safe investment?
If "high-risk" is the opposite of "safe" in investing, the answer has to be no. All investments in mining towns are high risk. Markets in mining towns are always volatile, because they are one-industry towns. And that one industry, the resources sector, is fickle and capricious.
Add to that the tendency of developers to dive into boom markets and build way too much new stock, and you have a formula for a real estate roller coaster.
But can a mining town ever be a lucrative investment? Definitely. Even with the decline in resources-related markets in the past year or two, the best long-term capital growth rates in Australia are all in mining towns or regional centres impacted by the resources sector.
The Queensland coal town of <a href="/news">Moranbah</a> is the quintessential case study for the win-lose scenario presented by these kinds of markets. Over the 10 years to 2012, it averaged 30% per year in growth in its median house price, which reached $750,000. Rents were absurdly high, providing double-digit yields.
Then the downturn popped by. Today the median price is $330,000 and rents have dropped so low that the typical yield is 4%.
Moranbah has had downturns before, though never as severe as this one. It will recover in time, although the trend by mining companies towards FIFO workforces means it may never reach those previous heights.
Bottom line: mining towns are only for experienced investors with large portfolios and cast-iron temperaments.
Article continues on the next page. Please click below.
<hr class="system-pagebreak">
Catherine Cashmore: Independent market analyst<img src="/images/authors/fullbody/Catherine-Cashmore.png" alt="" style="float: right;">
Is it ever a good time to 'invest' in a mining town? If it was, the time to do so has passed.
However, let's be clear - nothing of value is being 'invested' – the price escalation in a mining town comes from a self-feeding, virtuous cycle of irrational exuberance, taking a short-term bet on continuing rapid 'capital gains' at the expense of a new wave of speculative investors and the creation of more debt.
During the construction phase of the cycle (which typically employs a larger workforce than the current production phase), the surge in demand from fly in, fly out workers initially rises faster than supply can accommodate.  This drives up rents on existing sites, and attracts an increasing inflow of yield seeking investors.
The beneficial effects to the surrounding town and nearby localities, comes in the form of infrastructure contributions – ports, railroads, hotels, schools and so forth, which naturally boosts employment and can aid the long term viability of a region once the boom has surpassed.
However, the steep escalation created by speculative exuberance cannot be sustained. Timing therefore is crucial – and the losses significant.
A change in market prices can happen over night – Moranbah in Queensland for example – where houses renting for $1,200 - $1,800 per week in 2012, were barely able to attract $200-$300 per week in 2013.  Rumour has it that some properties were even offered 'free' for a short period of time, simply to gain tenancy.
The length of the cycle within any given area is determined by feasibility and long-term sustainability of a project.  New mines are planned years in advance, taking factors into account such as quantity and quality of deposits, milling processes, operating costs, capital costs, staffing, access to facilities (roads, rail etc.) and obviously continued demand from offshore markets. However, even assuming a feasibility study passes all the necessary criteria (and few presently are) – it does not guarantee the mine will be successful – or even commence.
To the peak of 2011, high-prices for resources such as iron ore, base metals and coal, were driven overwhelmingly by emerging markets such as China through heavy investment into infrastructure to accommodate rapid urbanisation of a large rural population.
However, China is undergoing structural changes to its economy – the effects of which are hard to predict over the longer term.  The subsequent dampening of its property market and therefore construction, has seen the price of iron ore plummet over recent months. Demand for scarce commodities is likely to continue, however it's not going to buoy a boom of speculative investment into the mining-town real estate sector as was previously the case.
Gamble your dollars elsewhere.
Damian Collins: <a href="https://www.momentumwealth.com.au/" target="_blank">Momentum Wealth</a> managing director<img src="/images/authors/fullbody/Damian-Collins-profile.png" alt="" style="float: right;">
Mining towns certainly can be quite cash flow positive in a lot of cases. But people need to be aware there are a lot of risks associated with that. Particularly if it's a mining town that's associated with one mine or a single commodity, and the commodity drops in value and they cut their workforce.
To some degree you're speculating on a particular commodity. And in some cases, even if the commodity is fairly well priced, the mine can still be fail if it's not profitable.
That's what happened with the BHP Ravensthorpe nickel project. Basically, they shut the thing down eight months later because it wasn't profitable.
The other risk is extra supply coming off the market. Often the towns are fairly small - 20,000 or 30,000 people. It doesn't take a whole lot of extra land supply to come off the market in order to effect rental yields and prices, like it did in Port Headland and Karratha. That's caused rental yields and prices to drop quite significantly, even though the industries are quite strong up there.
Certainly, you need to be very cautious. Our recommendation is that mining towns are not for the first time investor. They're for investors with a decent sized portfolio, with five or six properties, who willing to take on that risk as part of their property strategy.
Article continues on the next page. Please click below.
<hr class="system-pagebreak">
Pete Wargent: Author and <a href="https://allenwargent.com/" target="_blank">AllenWargent </a>property buyers co-founder<img src="/images/authors/fullbody/Pete-Wargent.png" alt="" style="float: right;">
It's possible, yes, if investors buy an asset using an appropriately financed deal, for the right price, at the right stage in the cycle, provided there is some tolerance for price volatility and possible vacancies.
Generally speaking, an investor or speculator buys property in a mining town in anticipation of a new project passing its feasibility studies and progressing to the construction stage, bringing new labour into town and higher demand for housing.
With the China boom really having taken off over the past decade, commodity prices went skyward – iron ore prices between 2007 and 2010, for example, doubled and then more than doubled again - and Australia embarked on a vast and unprecedented frenzy of mining construction.
But the commodities sector naturally cycles, and look at the macroeconomic picture in late 2014.
We have now transitioned into the less labour-intensive production phase of the boom, and as the new producers really begin to hit their straps there is a tremendous glut of supply hitting global commodities markets placing relentless downwards pressure on commodity prices.
Fewer and fewer significant projects will pass feasibility, particularly copper/silver/gold projects, and in the bulk commodity sectors of coal and iron ore.
In short, mining construction activity will drop off a cliff over the next three years, especially in Queensland, Western Australia and, to a lesser extent, New South Wales.
<img src="/images/2014/11/06/ev.owa.jpg" alt="">
Property investment is generally most effective as a long-term play.
Capital cities with rapidly growing populations tend to be an effective inflation hedge since the required supply of new dwellings must always built at in today's dollars incurring today's labour and construction costs, thus underpinning prices.
Mining towns and resources regions at this stage in the cycle are more likely to experience pain in the form of high vacancy rates, declining demand and falling prices.
Pass.
Todd Hunter: Buyer's agent, <a href="https://www.wheregroup.com.au/" target="_blank">wHeregroup </a>director<img src="/images/authors/fullbody/hunter-profile-2.png" alt="" style="float: right;">
The only time mining towns can become good areas to invest in are when the towns are not sole mining towns and have some mining influence.
These locations have a lot more to offer than simply mining, so should mines close or commodity prices change, then the towns don't see the catostraphic fluctuations in house values like sole mining towns do. Some locations that offer this are Townsville, Bunbury, Mandurah (where many fly in, fly out workers live for lifestyle and are close enough to Perth airport to fly north).
The other major issue for mining towns is the huge availability of land which can see massive housing oversupply occur. At any stage large numbers of new blocks of land can be released and sold to interstate investors. In such small towns these large releases can take towns that have almost a zero vacancy rate to huge vacancy rates that see large rent reductions. We see this now in places like Gladstone, Chinchilla and Karratha.
Combine that with mining companies now opting for fly in, fly out labour forces rather than workers renting in town has seen populations reduce as well. In my eyes, it's way too risky!
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jrichardson-uRX5hFdKfN

Exclusive: Can property in a mining town be a safe investment?

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Troubled businessman Nathan Tinkler has lost his chance to secure an $80 million purchase of Peabody Energy’s Wilkie Creek mine in Queensland, after he missed several payment deadlines.
<a href="https://www.smartcompany.com.au/growth/41939-tinkler-back-in-the-game-after-queensland-coal-mine-purchase">Touted as his comeback</a> into the coal game, Tinkler had paid a $5 million non-refundable payment on the mine through his company Bentley Resources.
The former billionaire, who is now based in Singapore, <a href="https://www.smartcompany.com.au/finance/42732-fears-over-tinkler-s-coal-comeback-as-a-key-payment-goes-up-in-smoke">missed a payment deadline in June</a> and a closing payment deadline of 31 July, which was further extended by Peabody.
But the energy giant is now fed up and moving on, releasing a statement last week saying it has terminated the sale and purchase agreement with Bentley Resources and is now looking at alternatives for the sale of the mine.
The Wilkie Creek mine closed last year, axing 120 jobs. Peabody blamed the carbon tax and other cost increases for making it unprofitable as coal prices fell last year.
Tinkler had originally said the sale was worth $150 million, but that is understood to have included the funds necessary to bring the mine back into operation.
Peabody revealed the transaction was worth $70 million, with the addition of about $10 million for a rail contract debt.
Tinkler, who had made and lost his fortune through speculative plays in the coal industry, previously told The Australian the Wilkie Creek deal would be funded via his own equity and with support from investment bank Jefferies and its associated private equity firm Leucadia.
The move is the latest twist in Tinkler’s run of bad luck, after retail magnate <a href="https://www.smartcompany.com.au/finance/43396-gerry-harvey-calls-in-the-farm-on-nathan-tinkler" target="_blank">Gerry Harvey called in his debt</a> on Tinkler’s beloved thoroughbred horse farm, <a href="https://www.smartcompany.com.au/finance/wealth-management/42041-tinkler-finally-forced-to-sell-his-horse-racing-empire" target="_blank">Patinack Farm</a>.
The former Hunter Valley electrician confirmed in <a href="https://www.smartcompany.com.au/finance/wealth-management/42041-tinkler-finally-forced-to-sell-his-horse-racing-empire" target="_blank">May he would let go of the farm</a>, announcing to the media he would sell the asset to a consortium of local and overseas parties from the Middle East on a “walk in, walk out” basis for an undisclosed sum.
However, in June, Harvey Norman’s top boss revealed to Fairfax Tinkler had borrowed money from him to establish his presence in the racing industry and thus he had a caveat over the sale.
Tinkler had suggested the sale of Patinack Farm would fund the acquisition of Wilkie Creek.
Tinkler declined to comment when contacted by SmartCompany.
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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krobb-aCrRNnPq6D

Time’s up for Tinkler as Peabody pulls comeback mine deal after missed payments

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The housing market, in at least Sydney, Melbourne and Darwin, has seen growth recently, and it's causing a knock-on effect, according to the ANZ Research team, with developer confidence now picking up.
However, they also said that it would be the mining states that record the most pronounced growth rate for gross state product in the coming years.
All non-mining states saw growth rates strengthen in the second half of 2013.
Cherelle Murphy, Dyslan Eades, Tony Morris and Zoe McHugh, from ANZ Research, recently provided a market analysis that pointed to five factors lifting the growth rates and outlooks in all states and territories.
THE FIVE FACTORS
<ol>
<li>Improved global economic conditions 
</li>
<li>Low interest rates 
</li>
<li>The lower Australian dollar 
</li>
<li>Better business confidence 
</li>
<li>Better consumer confidence</li>
</ol>
"The mining states, which are on the cusp of an export expansion, will continue to record the strongest growth rates over the coming years in our view. But the non-mining states are expected to improve most compared to the growth rates recorded over the past few years," they recorded.
Interestingly, they also noted that the convergence in growth rates between the states is as expected.
"The mining states are coming off very strong economic performances as the resources construction pipeline dries up, while the non-mining states are steadily firming."
MINING STATES
Queensland: Major LNG projects still under construction, recording high activity levels.
Western Australia: More advanced through resources contruction work, seeing a more rapid slowdown.
Northern Territory: The exception, seeing a boost from INPEX Ichthys LNG Project.
NON-MINING STATES
New South Wales: The best performer, with trend unemployment falling to 10 month low (5.5%) in March. Business conditions have picked up.
Victoria, Tasmania: Sluggish but recently improving outlooks. More exposed to manufacturing, which continues to shrink. Business conditions have picked up.
South Australia: Sluggish but recently improving outlooks. More exposed to manufacturing, which continues to shrink.
Australian Capital Territory: Sturdy, but "will shortly bear the brunt of the not yet wholly known Commonwealth fiscal tightening."
All states, they noted, saw a sharp pick-up in housing market activity "related in part to the expansionary setting of monetary policy," they noted.
<blockquote>
FIVE FACTORS LIFTING GROWTH RATES
IMPROVED GLOBAL ECONOMIC CONDITIONS
LOW INTEREST RATES
THE LOWER AUSTRALIAN DOLLAR
BETTER BUSINESS CONFIDENCE
BETTER CONSUMER CONFIDENCE
</blockquote>
"Prices have bounced off their lows and have risen especially sharply in Sydney, Melbourne, and Darwin. This has translated to an improvement in developer confidence, with residential building approvals rising strongly, implying dwelling investment is likely to contribute solidly to growth going forward," they said.
Among all the non-mining dominated states and territories, the non-mining business investment is not forecasted to see any notable improvement until next year.
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