<a href="https://www.apartments.com.au/developers/sunland-group">Sunland Group</a> has officially lodged plans for its first Gold Coast apartment project since the departure of the Abedian family from the company three years ago, unveiling a new high-rise proposal for a prominent Broadbeach corner site on Old Burleigh Road.

The application was submitted by an entity directed by Tom Jamieson, stepson of longtime Sunland leader Soheil Abedian, and Riaz Rezvanipour, brother-in-law of Sahba Abedian, Soheil’s son.

Sunland acquired the 1,283 sqm site on the corner of Old Burleigh Road and Armrick Avenue for $9.5 million late last year and is now seeking approval for a <a href="https://www.apartments.com.au/new-apartments/99-101-old-burleigh-road-broadbeach-qld-4218">42-storey tower with 81 apartments</a>.

<img alt="First look: Sunland Group returns to Broadbeach with new Old Burleigh Road tower plans" data-entity-type="file" data-entity-uuid="fea2946d-90ee-4cfc-babe-2a8ad5db2cb6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers.png?VersionId=BV0fihJw31nDIQ8ozY_h3GbS8mxDyhnm" />

Designed by <a href="https://www.apartments.com.au/architects/contreras-earl-architecture">Contreras Earl Architecture</a>, the proposed tower at 99-101 Old Burleigh Road would deliver a predominantly larger-format apartment mix aimed at the owner-occupier market. Plans include 17 two-bedroom apartments, 55 three-bedroom apartments, and nine four-bedroom residences across 35 residential levels.

The development also incorporates three basement levels, four podium parking levels, two levels of communal recreation facilities, and rooftop plant and equipment. A total of 189 car spaces are proposed, significantly exceeding the 90 spaces required under the planning scheme.

The architecture adopts a sculpted, curvilinear form, with deep wraparound balconies and integrated landscaping intended to soften the tower’s vertical expression. The planning report states the building’s “slender footprint/form provides a complimentary yet varied built form within the local streetscape” and contributes to “a varied, yet ordered skyline.”

Contreras Earl noted in its Architectural Statement that from the early stages, the project addressed a fundamental challenge: how to accommodate the required residential yield while avoiding the conventional model of a tower sitting on a rigid, fully resolved parking podium.

“The most direct response would have been to consolidate parking into a singular, flat podium and extrude a repetitive tower above,” the statement said. “While efficient, this approach would result in a consolidated built form with limited engagement with the surrounding landscape and public realm.”

Instead, the conventional podium model was “deliberately rejected”. The architects described the base of the building as “a landscaped architectural condition where structure, planting and circulation are integrated”.

“Rather than presenting a continuous built mass, the base of the building is articulated through a series of concrete planter elements that organise the podium into a fragmented system,” the statement said. “This approach reduces the perceived bulk of the lower levels while establishing a more permeable interface with the streetscape and adjacent open space.”

<img alt="Sunland" data-entity-type="file" data-entity-uuid="923fad8d-c960-4527-8fbe-975cf1ddf88d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-25%20at%2010.32.03%E2%80%AFAM.png?VersionId=pngwb0hYOIUpq9vDw6F2EsOiVuHF3DiX" />

&nbsp;

The site sits within the High Density Residential Zone and inside the City of Gold Coast’s unrestricted “HX” building height area, where the planning framework anticipates intensified residential development tied to the expanding light rail corridor. The planning report notes the area is undergoing “transition toward more intense development forms” given its proximity to Broadbeach, Surfers Paradise, and high-frequency public transport infrastructure.

Positioned directly opposite Broadbeach Park and within walking distance of Florida Gardens light rail station, the development would sit among a rapidly evolving stretch of Old Burleigh Road that has become one of the Gold Coast’s most active apartment development corridors.

The application joins a growing pipeline of luxury residential projects reshaping Broadbeach, including nearby developments by 5Point Projects, Polycell, and Graya.

The planning report argues the project contributes toward the Gold Coast’s long-term housing targets under the South East Queensland Regional Plan, which forecasts the need for more than 100,000 additional high-rise dwellings across the city by 2046.

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The Abedian family departed Sunland Group in late 2023, ending a four-decade association with the company, and subsequently established the private development firm Abedian &amp; Co. The group is currently delivering <a href="https://www.apartments.com.au/new-apartments/greenmount-residences-cnr-hill-street-and-marine-parade-coolangatta-qld-4225">Greenmount Residences</a> at Rainbow Bay and recently launched <a href="https://www.apartments.com.au/new-apartments/18-mary-avenue-14-18-mary-avenue-broadbeach-qld-4218">18 Mary Avenue</a> in Broadbeach.
</section>

Joel Robinson

First look: Sunland Group returns to Broadbeach new apartment market with new Old Burleigh Road tower plans

The Minns Labor Government has established the new Bays West Delivery Authority to lead the development&nbsp;of the Bays West Precinct and Blackwattle Bay Precinct.&nbsp;

The Authority is charged with creating Sydney’s newest precinct, a thriving, connected, sustainable hub with White Bay Power Station as its cultural heart. Its vision is to build on the area’s natural, cultural and industrial history to shape a vibrant new neighbourhood.

The precinct will deliver up to 8,500 well-located homes, including a minimum of 10 per cent affordable and essential worker homes. Combine new housing with public open space, opening public access to the waterfront for the first time in more than 100 years, while retaining important deep-water facilities to support Sydney’s working harbour.

Located just minutes from the Sydney CBD and connected to a world-class metro, ferry, walking and cycling links, the Bays West precinct will rebalance housing growth towards well-serviced inner-city locations and help tackle the state’s housing crisis.

The Bays West Delivery Authority,&nbsp;an agency of the Department of Planning, Housing and Infrastructure, will report to the NSW Minister for Lands and Property who already has oversight of major precinct renewal projects including at Blackwattle Bay and Barangaroo.

As part of the broader Bays West transformation, the Minns Government recently announced that a proposal from Lendlease to redevelop part of the Bays West Precinct has progressed to Stage 2 of the NSW Government’s unsolicited proposals process.

<img alt="Sydney" data-entity-type="file" data-entity-uuid="2ed71eb9-d8e8-4fa7-b9d1-de4531dcf2f3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-25%20at%209.42.31%E2%80%AFAM.png?VersionId=IDryFIbped9SNDg72LEN_EecvhUsOPvp" />

The Minns Labor Government has also confirmed the Bays West precinct will have a new suburb name. This will be the first major suburb built in close proximity to Sydney’s CBD in decades and will encompass the area currently being referred to as Bays West, including Glebe Island and the White Bay Power Station. Served by a new Metro station just five minutes from the CBD, it will become one of the most populous suburbs in the Inner West and one of Sydney’s premier cultural destinations.

An early works program is taking shape, which&nbsp;includes the first stages of an international design competition.&nbsp;

The aim of the Bays West&nbsp;International&nbsp;Design Competition is to&nbsp;ensure design excellence is embedded in the project from the start. The competition will deliver an&nbsp;urban framework that defines the character, ambition and long-term identity of&nbsp;this&nbsp;former industrial precinct as it transitions to a vibrant, inclusive and sustainable residential&nbsp;neighbourhood.

The competition will be led by the Bays West Delivery Authority in partnership with Government Architect NSW.&nbsp;

It will launch with an invitation for a global Expressions of Interest, before moving to an invitation-only stage that will be assessed by a panel that&nbsp;will provide advice to Cabinet who will select a winner.

Premier of NSW, Chris Minns said the establishment of the new Authority is the first step in transforming the Bays West precinct into a vibrant, livable suburb minutes from the Sydney CBD and two stops from Hunter St Station on the Metro West line.

“The Authority will deliver well-located homes close to the heart of the city and integrate the new precinct with Blackwattle Bay and the new Sydney Fish Market.

“This is a generational opportunity to build a new suburb on the city’s edge and open the harbour foreshore to the public for the first time in a century.”&nbsp;

Minister for Lands and Property Steve Kamper said the new Bays West Delivery Authority established by the Minns Government will turbocharge the development of Sydney’s newest suburb.

“The Authority is working at a record pace to deliver an international design competition, planning pathways and a financial model so that this development benefits Sydney with well-designed homes in a central location, close to public transport, jobs, entertainment and essential services.

“If we want Sydney to stay liveable and affordable, we need to be bold about using underutilised government-owned land to deliver homes for the future while making sure essential working harbour functions can be accommodated.”

Bays West Delivery Authority established to "turbocharge" Sydney’s newest suburb

Around 400 additional homes could be built at Southwark Grounds on Port Road, lifting total site capacity from 1300 to around 1700 dwellings.

A recently approved code amendment would allow apartment towers of up to 14 storeys in some areas of Renewal SA’s redevelopment of the former West End Brewery.

Renewal SA Acting Chief Executive Shane Wingard said he welcomed the code amendment, with the increase in heights and homes making a positive impact on the supply of high-quality, well-connected housing close to the city.

“By going higher across some parts of Southwark Grounds, we are adding a substantial number of very well-located homes with little impact on project delivery time or planned open space,” Mr Wingard said.

Since the project officially launched in 2025, Mr Wingard said more than 12,000 enquiries had been received about living at Southwark Grounds.

“The very strong early interest we’ve seen since homes were first released in the precinct reinforces our plans to create more housing opportunities,” he said.

The Southwark Grounds code amendment was launched in December last year, with community engagement undertaken over five weeks from January.

It proposed increasing maximum building heights from eight to 14 storeys on the eastern section of Southwark Grounds, and to 12 storeys across the remainder of the site, with minimum building heights ranging from two to four storeys.

The code amendment was implemented through an Early Commencement policy in late January, allowing developers to quickly explore the viability of increased height and housing yield while other planning processes continue.

One of the first developers delivering apartment sites have already finalised redesigns to increase the number of apartments following the code amendment.

Samaras’ development adjacent to the future Colonel Light Park is now planning to deliver 125 apartments across 11 storeys, significantly greater than original plans of around 50 apartments across four storeys.

The developer is also exploring the potential for additional affordable housing outcomes.

Most of the apartments at Southwark Grounds will be delivered within a master-planned precinct on a large parcel of land on the eastern portion of the site, covering around two-thirds of its 8.4 hectares.

Wingard said detailed precinct planning over the coming months may identify further opportunities to increase yield further that could see total apartment numbers at Southwark Grounds, exceed this number.

Affordable homes at Southwark Grounds will also see a net increase, with Renewal SA maintaining its commitment to a minimum of 20 per cent affordable housing across the development.

&nbsp;

&nbsp;

Civil works have begun across the site, with construction under way on the first new roads surrounding a townhouse precinct in the south‑west corner of Southwark Grounds. This includes Renewal SA’s 17 Founder’s Row homes, which are on track for completion by Christmas.

“We expect to have people living at Southwark Grounds by the end of the year, so delivering roads and public spaces for those residents is among our highest priorities.”

Construction of 40 townhouses off Anderson Street, known as West Village and being delivered by Contour, is forecast to begin in mid‑2026. Kolabb’s Anderson Lane development will follow shortly after, delivering a further 26 townhouses.

Southwark Grounds is a state government‑led urban renewal project now set to deliver around 1,700 homes over the next decade.

Homes will be supported by a supermarket, a range of retail and hospitality offerings anchored by a revitalised Walkerville Brew Tower, a childcare centre, car parking and well‑connected public spaces.

400 new homes planned for Adelaide's former West End Brewery site

Brisbane developer&nbsp;<a href="https://www.apartments.com.au/developers/cavcorp">Cavcorp</a> has lodged plans for a new mixed-use residential development at <a href="https://www.apartments.com.au/new-apartments/55-wyandra-street-teneriffe-qld-4005">55 Wyandra Street</a>, Teneriffe, anchored by an 85-metre public laneway designed to reconnect the suburb’s riverfront with the Gasworks precinct.

The buildings, known as Teneriffe House and Teneriffe Lane, would replace the existing Queensland Cotton head office site with a 15-storey residential tower transitioning to eight storeys toward Helen Street. The project has been designed by Plazibat Architects and lodged as a code assessable development application for 93 apartments across a 3,401 sqm mixed-use site within the Newstead and Teneriffe Waterfront neighbourhood plan.

Central to the scheme is the transformation of an existing service easement into a publicly accessible cross-block connection linking Wyandra and Helen Streets. Cavcorp says the new laneway will act as both a pedestrian shortcut and a landscaped civic space between the Teneriffe Riverwalk, ferry terminal, and Gasworks precinct.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="26e7f058-b065-4de8-b13d-a2b8cb64dfcc" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/bldg.png?VersionId=sELS0ZKYi361oYipUa1BIKfe_.DLZoFV" />

“The revised proposal delivers a legacy public-realm cross-block link, permanently secured for community use, transforming an existing private easement into a safe, high-quality pedestrian connection between the Teneriffe heritage riverwalk and the Gasworks–Long Island precinct,” the planning report states.

The laneway will sit beneath a large subtropical loggia integrated into the podium levels of the development. The design incorporates deep landscaping, water gardens, lobby spaces, business lounges, and ground-floor apartments to create what Cavcorp describes as a climate-responsive “urban verandah.”

The tower itself has been designed as a slender form with recessed floorplates and curved translucent corners inspired by contemporary Japanese architecture. The building height aligns with the Commercial Road precinct controls, which permit towers up to 15 storeys within proximity to Longland Street.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="a8a17d40-43b6-4718-b3fd-67676fcbb485" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers%202_1.png?VersionId=i3VwDtp5AmL_8InW7w4qRbDFEpb744Jt" />

The project will comprise a mix of larger-format apartments aimed at owner-occupiers, downsizers, and families. The proposed apartment mix includes 11 loggia apartments across the lower levels, 50 four-bedroom Sky-Terrace apartments from levels three to seven, and 32 Sky-Pool Homes occupying the upper tower levels. The Sky-Pool Homes will feature private thermal plunge pools integrated into oversized balconies.

According to the application, the apartments are intended to reinterpret the scale and character of Teneriffe’s woolstore conversions and Queensland homes within a vertical residential format.

“The sky-pool homes build on Cavcorp’s previous projects and introduce a distinct apartment typology to Teneriffe, informed by both local and international precedent and responding to an identified market demand for enhanced safety, space and amenity,” the planning submission notes.

A major focus of the proposal is its five-level wellness and lifestyle offering, extending from the basement through to the rooftop.

Amenities proposed include a rooftop Swim &amp; Racquet Club with a 25-metre Olympic lap pool and tennis court, coworking spaces and libraries, golf simulators, wine storage, concierge facilities, business lounges, pet wash areas, and rooftop longevity-focused wellness spaces with spas, outdoor fitness zones, and landscaped terraces.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="944b352c-49b9-4247-a4c6-5967b4b69fda" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/amenity.png?VersionId=Ed_qKjAtMwFT.5gfl3jiA9QwdWxSMsaX" />

All parking will be concealed within basement levels accessed from Wyandra and Helen Streets. Cavcorp says the deep-basement engineering approach allows the entire ground plane to prioritise landscaping, pedestrian movement, and active frontage rather than vehicle infrastructure.

The development continues Cavcorp’s concentration in Newstead and Teneriffe, where the Brisbane developer has delivered a number of apartment projects including Lucent, Le Bain, and Luminare, as well as the Long Island Wellness Precinct nearby. Several of those projects have received national design and architecture awards, including recognition under Brisbane’s “Buildings that Breathe” program.

Cavcorp unveils wellness-focused Teneriffe House and Teneriffe Lane apartment buildings

Focus Group Investments has lodged plans for a new apartment development at <a href="https://www.apartments.com.au/new-apartments/64-70-hanover-street-fitzroy-vic-3065">64–70 Hanover Street</a> in Fitzroy, seeking to utilise the Victorian Government’s recently introduced Great Design Fast Track pathway to accelerate approvals for the project.

The proposal is among the latest developments to emerge through the state-led initiative, which was established to fast-track well-designed residential projects in activity centres and transport-connected inner-city locations. The pathway allows qualifying developments that meet elevated design and housing benchmarks to bypass traditional council planning timeframes and instead be assessed directly by the Department of Transport and Planning.

Designed by SJB, the development will comprise a mix of apartments above activated lower levels, with a strong focus on architectural articulation, landscaping, and communal amenity. The design response seeks to balance the industrial character of Richmond’s former warehouse precincts with a more contemporary residential form.

<img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="abea51cc-d85b-479e-9aef-a589f3b37ca7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/ground.png?VersionId=e1Kf8EyPWwyiVumtqQ4rM5S4GpOR3CCz" />

Proposed are 63 new dwellings, a wide ranging mix of studio, one-, two-, and three-bedroom apartments, and townhouses and duplexes. They will be spread across a part-three, part-eight storey building.

The Planning and Urban Context Report by Tract says the development is of an "exemplary architectural standard" and has been carefully crafted by SJB Architects.

"Dwellings&nbsp;will benefit from excellent access to natural light, cross-ventilation opportunities and extensive communal space," the report noted.

The architectural material highlights the project’s integration of landscaped elements and communal spaces throughout the building. The proposal also incorporates sustainability initiatives aligned with the Victorian Government’s push for higher-performing apartment developments under the fast-track program.

The Great Design Fast Track was unveiled by the Victorian Government in 2024 as part of a broader housing supply strategy aimed at accelerating the delivery of new homes. Projects assessed through the pathway must demonstrate high-quality architecture, sustainability outcomes, and housing diversity while being located close to public transport and existing infrastructure.

<img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="afdbe834-8dc4-4a77-a943-ba07bc927348" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/site_11.png?VersionId=0J657j.TaChAZfp93wqJYBTqSsnREJx2" />

Focus Group, founder and led by Paul De Lutiis, is increasingly active across Melbourne’s inner suburbs, targeting well-connected urban renewal locations suited to medium and higher-density residential development. The Fitzroy proposal continues that strategy, leveraging the area’s strong transport links, established retail amenity, and proximity to the CBD.

Fitzroy has been one of the most popular spots for developers and buyers in recent years. The likes of PACE Development Group, SMA Projects, Crema Group and Chapter Group, currently selling projects in the suburb.

First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Fitzroy apartments

New Developments

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Renzo Piano will design the next stage of residential apartments at Barangaroo's new address, One Sydney Harbour, three high-rise towers.
After a globally competitive bid process, the Renzo Piano Building Workshop will undertake the firm’s second project in Australia.
The first was Sydney’s award-winning office and residential towers Aurora Place, developed by Lend Lease in 2000.
“A city development of three luxury residential highrise towers in such a location is, in this climate, a rare opportunity," Renzo Piano said.
"Our vision is to design three buildings with a gentle presence in the cityscape and in dialogue with the harbour waters and Barangaroo waterfront.”
Lend Lease’s Barangaroo South managing director Andrew Wilson forecast One Sydney Harbour will be an iconic Australian address.
It is likely there will be about 750 apartments on offer.
The apartments will be the second residential release at Barangaroo South. The first 159 apartments in the two waterfront buildings Anadara and Alexander sold out within 3.5 hours of launch in August 2013. 
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jchancellor-FAypfDUnLy

Renzo Piano's residential apartments at Barangaroo's exclusive new address, One Sydney Harbour

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Australand's Clemton Park Village has seen over 600 apartments sold to date, with the penultimate building now launched.
Located 13 kilometres from the Sydney CBD, the latest 45 Campsie apartments will comprise a mix of one, two and three bedroom scheduled for a 2017 completion.
Most will have a north-east facing vistas of landscaped gardens, including the community garden where residents can grow their own vegetables and herbs.
The village comes with a Coles supermarket. The former Campsie factory site of electrical appliance maker Sunbeam hass now well been transformed.
Australand NSW residential division general manager Nigel Edgar said almost all of the 45 apartments priced for first-home buyers.
“44 of the 45 apartments are priced under the threshold of the First Home Owner Grant," said Edgar.
“Like the other 600 apartments at Clemton Park Village, we expect to get knocked over in the rush for this second last release.”
The new release went officially on sale to the general public on 2 March, with 12 one bedroom one bathroom apartments priced from $535,000, four two bedroom one bathroom apartments from $645,000, 28 two bedroom two bathroom apartments from $690,000, as well as a single three bedroom two bathroom apartment priced at $825,000.
All the apartments will feature secure parking and storage.
First home buyers Harriet Wallis Jara and Pablo Jara, currently living in Croydon Park, are among the recent off the plan apartment buyers within the master planned community.
They bought in the Parklife apartment complex with the first home buyer government grant incentive.
The couple plan to use the second bedroom in their new apartment as a guest room for when family and friends stay.
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Clemton Park Village pricing at under FHOG threshold

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A mix of local owner occupiers and investors have purchased 70% of the 136 apartments in Doncaster's Gardenhill development, within three months of its launch.
The development is a joint venture between Melbourne's Beulah International and Malaysia's Fajarbaru Builder Group. Woods Bagot designed the project, with a curved façade and sliding panels on both the exterior and in the apartments' interiors.
<img src="/images/2015/02/24/doncaster%20two_0000_1.jpg.jpg" alt="">
The internal movable panels allow residents to rearrange the layout of their apartment.
The rooftop garden has been designed by Jack Merlo and includes a teppanyaki BBQ, an edible garden, deck and grassed entertainment area.
<img src="/images/2015/02/24/doncaster%20two_0002_3.jpg.jpg" alt="">
Prices for one bedroom apartments in <a href="https://www.gardenhill.com.au" target="_blank">Gardenhill</a> (pictured above) begin at $390,000. Both one and two bedroom apartments are available.
Fajarbaru-Beulah International (Melbourne) executive director Jiaheng Chan says the flexible interiors have attracted buyers, which include both downsizers and investors.
"We've found the project's flexible interior spaces and moveable sliding panels along with the impeccable architectural design and stunning uninterrupted views to be some of the biggest draw cards for the project so far," said Jiaheng.
The development, currently under construction, is one of a number currently being marketed to buyers in <a href="/news">Doncaster</a>.
The nearby <a href="https://imperialdoncaster.com/" target="_blank">Imperial Doncaster</a> (pictured below) is offering a Chinese New Year special, with developer AFX covering stamp duty costs for buyers until 28 February. The medium-rise, 10 storey development has 93 apartments.
<img src="/images/2015/02/24/doncaster_0000_1.jpg.jpg" alt="">
Designed by Buchan Group Architects, the apartments are priced from $547,000 for a two bedroom apartment, but some apartments exceed $2 million. There are currently 12 apartments available.
The AXF Group, which began developing property in 2005, ranked among the busiest developers in Melbourne's outer eastern suburbs, <a href="/news/vic/chinese-developer-asx-property-selling-imperial-the-crown-of-doncaster">Property Observer reported in 2013</a>.
<img src="/images/2015/02/24/doncaster_0005_6.jpg.jpg" alt="">
In 2011, the group completed another Doncaster project, The Berkeley, a 116-apartment block. 
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jrichardson-uRX5hFdKfN

Doncaster's latest Gardenhill 70% sold as Imperial reaches tail end

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Australand has been selected as the preferred developer to transform 50 hectares of vacant council land in Sunbury following an agreement with Hume City Council.
The 390 new home residential development, Sunbury Fields, located on Racecourse Road just 2 kilometres north of the historic Sunbury Town Centre, will have around 30% dedicated to open space.
Given the presence of the Eastern Grey Kangaroo, Sunbury Fields will feature 9.7 hectares of Grassy Woodlands Conservation Reserve.
There will also be 3.5 hectares of local village parks and gardens along with 1.6 hectares of wetlands.
Australand advised the development would cater for more than 1,000 residents on completion with land blocks ranging from compact 263 square metres to large country-style blocks of more than 1,540 square metres.
The Sunbury Fields site had a history dating back to the late 1800s where it was home to the annual Easter military encampments by the Rupertswood Battery and then as Sunbury’s Racecourse in the 1900s.
Following rezoning of the site late last year, Hume City Council has issued planning permits for the Sunbury Fields development with onsite works scheduled to commence in April 2015 and an estimated completion by 2018.
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Australand wins Sunbury Fields development rights

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When running your feasibility on a development project, it's important to make sure all costs are covered off.  There are set up costs, design costs, planning costs, construction costs, selling or leasing costs and of course, the dreaded holding costs.
You must calculate holding costs correctly. I've spoken to many novice property developers about their holding cost calculations. The most common mistake is to simply calculate the interest cost over the total cost of the project for the total time a project will take. 
This results in a gross over calculation of interest costs. In addition, they then don't take into consideration the tax benefits on the interest payments.
Admittedly, It's not an easy calculation because of the various timeframes and draw downs applicable over the life of the project. So I thought I'd put a case study together to demonstrate the holding costs on a dual occupancy project.
I was discussing this with my friend Shukri Barbara, who is a property tax specialist accountant at the aptly named <a href="https://www.propertytaxspecialists.com.au/" target="_blank">Property Tax Specialists</a>.
I asked Shukri if he would help me with a case study showing what the holding costs and the tax advantages on a typical dual occupancy project would be.
"The basic rule is that when an expense is incurred in earning income, it will be allowed as a deduction as long it is not capital in nature or private." Shukri said.
With this clarified, I gave him the details and assumptions for the case study. It is based on a dual occupancy development.
A property investor is buying as an 'individual' (i.e. not in a trust or company structure). The investor's taxable income is $95,000 per annum and she has purchased land that will be developed and once completed, be income producing.
Exchange on land took place on the 1st February 2015 using $5,000 deposit.
Settlement on the land occurs 1 May 2015.
The development will be completed 1 of December 2015 when tenants will move in.
Interest rate is 4.5%, and we assume the project will be 100% financed.
The land cost is $265,000 and stamp duty is $7,765 but after a NSW government grant it is reduced by $5,000 and is $2,765. Legal fees are $1,800.
The builder's contract is $460,000 and includes all costs relating to design, planning, subdivision and construction. 
The draw downs occur as follows:
<ul>
<li>1 April 2015 -  $5,000 deposit paid</li>
<li>1 Aug 2015 - slab down</li>
<li>15 Aug 2015 - Frames and trusses completed</li>
<li>15 Sept 2015 - Brickwork completed</li>
<li>1 Nov 2015 - Interior linings completed</li>
<li>1 Dec 2015 - Completion</li>
</ul>
Below is the builder's drawdown schedule:
<table style="width: 460px;" border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="272">
DESCRIPTION
</td>
<td valign="top" width="134">
PERCENTAGE
</td>
</tr>
<tr>
<td valign="top" width="272">
Deposit paid after concept plans agreed on
</td>
<td valign="top" width="134">
$5,000
</td>
</tr>
<tr>
<td valign="top" width="272">
Installation of concrete slab (less deposit paid)
</td>
<td valign="top" width="134">
20%
</td>
</tr>
<tr>
<td valign="top" width="272">
Erection of Timber Frame and Trusses
</td>
<td valign="top" width="134">
20%
</td>
</tr>
<tr>
<td valign="top" width="272">
Brickwork, Windows and Roof Coverings to Main Section
</td>
<td valign="top" width="134">
25%
</td>
</tr>
<tr>
<td valign="top" width="272">
Interior Linings and Mouldings
</td>
<td valign="top" width="134">
25%
</td>
</tr>
<tr>
<td valign="top" width="272">
Completion
</td>
<td valign="top" width="134">
10%
</td>
</tr>
</tbody></table>
I asked Shukri what the tax benefits on the interest holding costs may be.
He explained "Interest expenses incurred while constructing properties which will produce rental income will be allowed as a tax deduction in the year it is incurred.
In the case study provided, even though the construction won't be completed until the following tax year, the interest incurred in financing the land and any progress payment will be deductible. Also deductible will be any council and water rates.
Using the case study details, we have calculated the
<ul>
<li>Amount of interest which can be deducted and </li>
<li>Tax savings which can be obtained at the end of 2015 – assisting with cash flows.</li>
</ul>
So what were the results? 
Deductible interest expense for 2015 financial year is estimated at $2,015 with tax benefit of $786.
For the 2016 financial year, the deductible interest amount is estimated at $28,197 with tax savings estimated at $10,997
The total interest holding costs for the project is $18,429 for the eleven month period that the project will take to complete. 
This particular dual occupancy project was projected to create approximately $153,000 in equity. Even after the holding costs are deducted it's not a bad return for just under a year's work. What do you think?  
<a href="https://www.propertybloom.com.au" target="_blank">www.propertybloom.com.au</a>
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jochivers-wq5Bp59R5a

Holding cost calculations and considerations: Jo Chivers

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CBRE Melbourne residential projects managing director Andrew Leoncelli told the Australia 108 launch last night that the sales scenario had been supremely successful during the soft pre-launch period.
There are whispers, published in the Herald Sun, that more than 300 sales have been secured at the Southbank project.
"This is the most exciting release of an apartment project in Melbourne's history," Andrew Leoncelli said as he opened the display suite set opposite the development site.
"To break the back of the sales is a very proud achievement," he said.
With its envisaged distinctive starburst feature, the 319 metre tall building, at 70 Southbank Boulevard, will be 25 metres higher than the neighbouring Eureka Tower, Melbourne’s highest building.
<img src="/images/2015/01/15/TPA8467_Australia_108_E01_Hero%20Elevated.jpg" alt="">
The tower is being developed by Singaporean company World Class Land, a subsidiary of Aspial Corporation headed by billionaire businessman Koh Wee Seng who sees the rewarding project as "iconic".
“Residents will experience living in the clouds,” Koh added.
It will have 1,105 apartments, including a 790 super penthouse on its 100th floor with a $20 million plus price tag.
Prices for apartments between the first habitable floor at level 14 up to the 68th floor range from $450,000 to $950,000.
Three bedroom and sub-penthouse apartments between the 72nd to 99th floors starting at $1.5 million.
The advance sales saw buyers snapping up 90 of the 165 three-bedroom penthouses and sub-penthouses above level 72.
There will be over $1 billion in revenue, Andrew Leoncelli advised.
Fears of an apartment glut in Melbourne have been rejected, as the project officially goes to public launch tomorrow.
City of Melbourne date shows more units are being built than at any time in the city’s history, with most construction driven by foreign investment.
One of the Australia 108 buyers is <a href="/expert-insights/buying/family-snaps-up-five-79th-floor-apartments-in-australia-108">one local family buying five apartments</a> with intentions of combining them, on the 79th level costing over $9 million.
It was not an entire floor, as Property Observer gleans the 79th floor has eight apartments.
World Class Land engaged <a href="https://infopub.sgx.com/FileOpen/PR_AUSTRALIA_108.ashx?App=Announcement&amp;FileID=319450" target="_blank" style="line-height: 1.3em;">Fender Katsalidis Architects</a> as its building designer, and Carr Design, the firm behind the Triptych and Parque Melbourne developments, to design the interiors. 
Hirsch Bedner Associates (HBA), designers of the St Regis Abu Dhabi, will design the concierge lobbies.
“Australia 108 will be the tallest building World Class Land has ever built and we are exceptionally proud for it to also be the tallest residence in the southern hemisphere,” Koh said.
Architect Karl Fender described it as a mega-project where "the reality was better than the fantasy."
"It is the place for a vertical village," he said, which in suburbs realms would occupy 300 acres.
"I can't wait... this is a game changer for Melbourne," Fender told the launch crowd.
Australia 108 was initially mooted in 2011 for late 2015 completion with slightly higher ambitions for the site set on the corner of City Road and Southbank Boulevard which was then <a href="/news">owned by Katsalidis and property developer Adrian Valmorbida </a>from the Valmorbida family.
Former Victorian planning minister Matthew Guy supported the project viewing such a project as underlining the confidence in Melbourne.
"Australia is coming of age, and our cities are growing upwards," Guy said in 2011. "Taller buildings... are a symbol of a growing nation, a strong economy, and they do have the ability to define a city," he said.
The display suite at 55 Southbank Boulevard, Southbank is open next week from noon to 4pm, Tuesday to Thursday as well as weekends.
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Sky-high Australia 108 launches with 300 buyers reportedly already in the bag

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The 29-storey Eclipse is set to become Adelaide’s tallest residential building, set on the northern edge of Rundle Mall. 
A Sydney-based consortium hopes, subject to approvals, to start construction in 2016 on the 272 apartment block that will tower 94 metres above the city. 
Adelaide's tallest building is Westpac House (all commercial) at 132 metres and 31 storeys, with Adelaide's tallest residential building being King William Tower at 65 King William Street at 70 metres. Originally built as the ATO offices, it was converted to 126 units around 2004.
The only mooted challenger on the skyline will be Vue on King William Street, which when completed next year will be 89 metres.
<img src="/images/2015/02/12/CGI%20VIEW%20FROM%20NORTH%20TERRACE.jpg" alt="">
The Eclipse Project is proposed for a 1,536 square metre precinct bordering Austin Street and Porters Lane.
The Government of South Australia’s Development Assessment Commission is currently assessing the application.
Consortium members have previously been associated with residential projects including 500 units for student accommodation in Adelaide on Rundle Mall and Hindley Street between 2000 and 2008.
Project director Jonathan McKenzie said Eclipse was prompted in part by the reform of planning laws, and the removal of height limit restrictions.
“There is also a strong message coming from the Government of South Australia that the city is poised for growth and this makes Adelaide a compelling investment option,” he said.
The Eclipse tower will include 272 apartments, comprising 56 one-bedroom apartments, 164 two- bedroom apartments and 52 three-bedroom apartments designed by architecture firm Elenberg Fraser.
“We are very excited to make our first contribution to the Adelaide skyline,” Kim Lai from Elenberg Fraser said.
The consortium comprises Garry Parker, Peter Sprowles, Paul Smith and Jonathan McKenzie. 
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 Eclipse 29 storey Adelaide highrise residential proposed

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Construction on the Botanica Apartments within Banbury Village is scheduled to commence in the middle of this year, with completion expected by mid-late 2016.
Banbury Village is being developed by Cedar Woods as a $200 million urban renewal project on the former Olympic Tyre Factory site at Footscary West.
It's been billed as the southern hemisphere’s first US-college style education campus village to service two Victoria University Footscray campuses.
Banbury Village will have a mix of academic, social, community and retail facilities, along with around 430 homes.
<img src="/images/2015/02/11/banbury-feb-11-two.jpg" alt="">
As part of the rejuvenation aim of the Victorian Liberal government’s ‘Plan Melbourne’ city plan, the region has the fastest growing population areas in Australia, with Victoria’s former Minister for Planning, Matthew Guy, anticipating the City of Maribyrnong will grow by 42,000 people over the next 15 years.
Some 60% of those moving into Footscray are aged between 20-34, according to a report released by Urbis, which also speculated that this growth would require an additional 130,000 dwellings.
“Banbury Village is a community-defining project,” said Cedar Woods’ Victorian State Manager, Nathan Blackburne.
Botanica, the final stage of the residential development, has been designed by ROTHELOWMAN to appeal to Footscray’s younger demographic and high proportion of young professionals and students.
Offering one and two bedrooms, prices start at $305,000.
All apartments feature NBN-ready connections.
Less than a quarter of apartments remaining in the final release of the $200 million Banbury Village project, which has played a pivotal role in the renaissance of Footscray.
“Footscray’s rising popularity and proximity to the CBD has seen it competing with traditionally trendy Melbourne hotspots such as St Kilda, Richmond, Northcote and Carlton,” Blackburne said.
“Dwellings in the project have seen good price growth and we expect the same to occur for this final release.”
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Botanica, the final rejuvenation project of Footscray's Banbury Village 

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Residential property developer AVJennings Limited has achieved a strong profit result on increased revenue of $118.5 million, up 13.7% on the corresponding period.
Increased production levels in improving market conditions were the catalyst for the strong first half results. It has previously advised affordability is an ongoing challenge but has been assisted by the benign interest rate outlook for the foreseeable future, only moderate price growth on the urban fringe of most capital city markets and Government incentives. 
It has also recently noted strong interest in purchasing lot equivalents shown by third party builders and developers across the states. 
AVJennings Chairman Simon Cheong advised today he expects contract signings for the year ending 30 June 2015 in the range of 1,700 to 1,900 lots; previously to was 1,500 to 1,700 lots.
Highlights for the half year ended 31 December 2014 were: • Profit up 34.9% to $16.8 million before tax and $11.9 million after tax • Revenue up 13.7% to $118.5 million • Work in progress levels up 58% to 1,539 lots compared to 31 December 2013 levels • Settlements up 22% to 660 lots (contract signings higher at 872 lots)
AVJennings CEO Peter Summers said consumer confidence was highest in New South Wales, and that Sydney remained the strongest market in the country with a continuing supply shortage and strong demand. The Sydney strength was pushing through to the Central Coast market too.
“Demand in Brisbane continues to rise with positive knock-on to the Noosa, Caloundra and Coomera markets, which are now also firmly in recovery," said Summers.
"The Melbourne residential land market remains stable, with the company generally experiencing good demand on its projects in the east and north-east of the city.
"The South Australian residential market remains stable but subdued overall.”
Lots under development continued to grow reaching 1,539 (1,264 lots as at 30 June 2014 and 974 lots as at 31 December 2013), which Summers said is a key indicator of future positive performance. The level of completed unsold stock remains stable and low.
AVJennings controlled 9,418 lots at balance date.
It recently contracted to purchase two new land parcels at Cobbitty, New South Wales comprising approximately 227 lots contiguous with its <a href="https://www.avjennings.com.au/NSW/DevelopmentProfiles/Arcadian_Hills.aspx?ShowMap=true" target="_blank">existing</a><a href="https://www.avjennings.com.au/NSW/DevelopmentProfiles/Arcadian_Hills.aspx?ShowMap=true" target="_blank"> Arcadian Hills project</a> (pictured above).
Arcadian Hills' first residents movied in during October 2014 as stage one of the estate had nearly sold out and the release of stage two brought forward due to demand. 
Just two years ago it cut the value of its Cobbitty, NSW project where bureaucratic red tape had been costly on getting approvals at its then 43 hectares of residential-zoned land in Sydney's south-west, where it hoped 470 lots could be developed.
Peter Summers told AV Jennings shareholders that market fundamentals remained positive, with strong consumer confidence to transact in housing bolstered by low interest rates and inflation, underlying housing shortages in some markets (especially Sydney and Auckland), strong population growth and a stable domestic macroeconomic outlook over 2015-2016.
 
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AVJennings profits up so buys more land for house and land packages at Cobbitty Arcadian Hills 

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Creating a system can be quite simple and helps you achieve more in less time.
Not too long ago I met with one of my builders.  The builder and I started working together when I introduced a particular type of development and in a short period of time we’d already completed five projects together. But I knew we could still fine tune our process.  He’d had some recent staff changes, so it was the perfect time to gently tell him exactly how I wanted my developments to run. 
Before the meeting I prepared a draft procedures document which was based on the way we had been doing things up until then.
But it wasn’t until I started documenting pretty much everything we did that I realised how much was involved in this somewhat basic development strategy.  What started in my mind as a one pager has turned into four. It’s funny how we simplify in our minds a process because we’ve done it time and time again.  But when you really break it down in writing, you can see all the fine details.
Using a system or procedure keeps me on track with our projects .I now literally have a written system for everything I do.  It gives me something tangible to show to my clients and helps explain exactly what I really do when managing their development.   It’s also an important tool to use when training new staff as they have a documented procedure to follow.  
By the end of the meeting with my builder, we had agreed on a three very important changes that impact the bottom line of all my developments:
<ol>
<li>We changed our standard floor plan slightly to make it more cost effective to build, without reducing the size. Now I could offer my clients a cheaper build price that will not impact on the end value or rental return.</li>
<li>We changed the payment schedule so my clients would pay less in the first half of the build phase, saving them valuable holding costs.</li>
<li>We minimised choice to save time. By setting up standard inclusions plus a list of ‘optional extras’ it meant that clients would not feel overwhelmed by choice on fittings, fixtures and colour selections and we could manage this process faster moving to the next step and saving time.</li>
</ol>
I put the new system into action immediately and we started getting more done, in less time.  As they say, time is money.
<a href="https://www.propertybloom.com.au" target="_blank">www.propertybloom.com.au</a>
This article previously appeared on Property Observer in June, 2014.
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