<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" />

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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.
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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.

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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

Reits

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Stockland Group has accepted Frasers Centrepoint’s offer to acquire its 19.9% holding in Australand.
Stockland will sell its holding of 113 million Australand shares at $4.48 a security.
The property group will net more than $80 million from the transaction.
It comes eight days after Frasers secured its effective takeover of Australand with around a 56% acceptance when the initial deadline fell.
“We have been disciplined with our investment in Australand with a clear strategic intent and view of value, and are pleased to have achieved a significant profit,” Stockland chief executive Mark Steinert told the stock exchange today.
The group plans to reinvest back into medium density residential and mixed use projects, and to grow its string of logistics and business parks.
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Mark Steinert recently announced the appointment of two new executives to its executive committee, with its Chief Investment Officer, and Group Counsel and Company Secretary, elevated to the executive team.
Darren Rehn has been appointed Group Executive and Chief Investment Officer with responsibility for capital transactions, capital partnering and business development activities. 
Mr Rehn joined Stockland as Chief Investment Officer in October 2013. 
Katherine Grace has been appointed Group Counsel and Company Secretary, coming with over 15 years’ experience including several years at Westfield Retail Trust. 
Phillip Hepburn, who has served as Stockland Group Counsel and Company Secretary since 2001, will be leaving Stockland.
Stockland’s executive committee will now comprise Mr Steinert and the following executives: 
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  Stephen Bull – Group Executive and CEO Retirement Living 
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  Katherine Grace – Group Counsel and Company Secretary 
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  Tiernan O’Rourke – Chief Financial Officer 
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  Darren Rehn – Group Executive and Chief Investment Officer 
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  Michael Rosmarin – Group Executive and Chief Operating Officer 
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  John Schroder – Group Executive and CEO Commercial Property 
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  Simon Shakesheff – Group Executive Strategy and Stakeholder Relations 
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  Andrew Whitson – Group Executive and CEO Residential 
 
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jchancellor-FAypfDUnLy

Stockland accepts Frasers' Australand offer

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Harry Triguboff’s Meriton Group has bought the DEXUS Property Group business park in Rosebery spending $190 million for the 4.9-hectare offering.
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DEXUS Property Group sold <a href="https://www.realcommercial.com.au/property-offices-nsw-rosebery-5497126" target="_blank">5-13 Rosebery Avenue</a> (pictured above) and 25-55 Rothschild Avenue in Rosebery, Sydney, with trading profits to be realised in FY15 and FY16. 
It is expected that the sale will contribute approximately $17 million to FY15 trading profits and materially increase trading profits in FY16 contributing approximately $74 million pre-tax. 
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The business park which had a book value of about $100 million was sold through JLL’s Michael Fenton, Sam Brewer and Blair Peterken.
Meriton now has 14,000 units in its pipeline as more than 1000 apartments will be built at the 4.9-hectare site.
There are eight mature Hills Fig trees on the boundary of 5-13 Rosebery Avenue with City of Sydney studies having identified these trees as a local landmark and as a defining feature of the precinct. 
5-13 Rosebery Avenue is a recently refurbished, 10 level office building within close proximity to Southern Cross Drive, the Eastern Distributor and Sydney Kingsford Smith airport.
During the year DEXUS undertook a total of $5.4 billion transactions across the group, including the joint acquisition of the $3.4 billion CPA portfolio with CPPIB. 
The CPA transaction, completed in April 2014, increased the value of the office portfolio to $7.6 billion.
DEXUS today announced its 30 June 2014 results. 
Dexus Property Group said its full-year net profit fell to $406 million. Revenue in the year rose 7.2% to $700 million.
In FY15, DEXUS has a trading profit target of $40 million.
DEXUS chief Darren Steinberg said it had progressed the sale of 40 Market Street, Melbourne which is expected to contribute to FY15 trading profits.
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Amid heritage fig trees Meriton spends $190 million on DEXUS Rosebery business park

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There's one less player on the Australian property scene with the Singapore-based Frasers Centrepoint tycoon Charoen Sirivadhanabhakdi winning the $2.6 billion takeover battle for Australand Property Group.
Global hedge funds accepted Frasers $4.48 per security all-cash offer taking total acceptances to more than 50% some three hours before the 7pm cut off.
It was at 46% by 2.30pm and 56% at 5pm.
It is speculated that the rival bidder Stockland will now tender its 19.9% stake in Australand over the two week extension period 
Frasers, advised by Deutsche Bank and Standard Chartered Bank, made its all-cash $4.48 per security offer trumping a previous scrip bid by Stockland.
The offer period has automatically been extended until 7pm, 21 August.
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Frasers secures 50% Australand takeover acceptances 

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Frasers Centrepoint's $2.6 billion takeover bid for Australand Property Group is still short of the 50.1% required by this Thursday’s deadline.
A flood of acceptances is expected in the final hours of the offer, although some warn the deal will fail to reach the unconditional stage.
Hedge funds control close to 40% of the register. They invested in the hope Stockland would extend a sweetened offer. Stockland owns 19.9% of Australand.
With acceptances sitting at below 10%, earlier this week security holders were reminded the Australand Directors unanimously recommended acceptance of the Fraser's offer in the absence of a superior proposal. 
"We note that the offer cannot be extended unless Frasers’ voting power in Australand increases to more than 50% or a competing takeover bid emerges before the closing date," the letter from Australand maning director Bo Johnston said.
The letter indicated the current status of the offer was as follows:
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<li>The Offer consideration of $4.48 per Australand Security (with the entitlement to the Allowed Distribution) is Frasers best and final offer in the absence of a competing proposal (as previously announced on 28 July 2014); </li>
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Should Frasers achieve acceptances for more than 50% of all Australand Securities, including under the Institutional Acceptance Facility (IAF), prior to the Closing Date, and at that time no other condition of the Offer has been breached, Frasers has stated that it will immediately declare the Offer unconditional. Assuming the Offer becomes unconditional on 7 August 2014, the Allowed Distribution will amount to $0.0263 per Australand Security. In this case, Securityholders who accept the Offer and are on the Australand register on the Allowed Distribution Record Date would receive total proceeds under the Offer and the Allowed Distribution of $4.5063 per Australand Security. We also note that should Frasers not achieve acceptances for more than 50% of all Australand Securities or a competing proposal does not emerge by 7 August 2014, the Offer will lapse and Australand Securityholders will no longer be able to accept the Offer, and any acceptances received under the Offer will be of no effect. As such, if Securityholders wish to receive the Offer consideration they should accept now. Australand has established a Securityholder Information Line which Australand Securityholders should call if they have any queries in relation to the Offer. The telephone number for the Securityholder Information Line is 1800 882 147 (toll free calls within Australia); or +61 1800 882 147 (for calls outside Australia).
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Frasers' Australand takeover bid still short as deadline draws closer

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Investors will be looking to listed property companies’ results and outlook statements for indications of whether the market for residential real estate has deteriorated in light of weakening consumer confidence.
Dalton Nicol Reid portfolio manager Scott Bender said investors were expecting the residential property sector to continue to be reasonably buoyant, but not as strong as in the first quarter of 2014.
“The market is going to be focused on the commentary on the outlook. Contracts on hand will be strong but we’re interested in enquiry and conversion rates and whether they have seen an impact from the softer consumer,” Bender told Property Observer.
“Residential will still be quite strong but there will be a focus on whether [property companies] see softening in those leading indicators following the federal budget.”
Stockland Property Group, which reports to the market on 18 August, will be one to watch given the size of its residential book, said Bender, who manages Dalton Nicol Reid’s property trust portfolio.
Mirvac Group’s results would give an indication of the outlook for medium density residential developments, particularly given the group’s exposure to the NSW market. Bender said NSW property had been selling well for Mirvac and he expected that trend to continue. Mirvac reports on 21 August.
Bender expects further merger and acquisition activity in the coming months as companies are able to access low cost debt and equity and it is becoming more difficult to increase revenue.
“Given there’s cheap equity and cheap debt [merger and acquisition activity] is going to be on the radar but whether companies are going to get something cheap enough to make the numbers work will be the tricky part,” he said.
Land developer Australand is the target of a takeover bid by Singapore-based Frasers Centrepoint. Australand’s directors have recommended shareholders accept Frasers’ off-market takeover bid of $4.48 cash per Australand security. Earlier in the year, Stockland made an unsuccessful play for the group.
Australand reported on 21 July that it had made a $131.5 million net profit after tax for the half year results to 30 June, up 49% on the prior corresponding period.
It reiterated earlier guidance that earnings for the full 2014 year were likely to be up 20-25% on 2013, and earnings per share would grow by 10-15% from 2014 to 2016, assuming the residential market remained strong. However, the company noted that Frasers would review its structure and operations if the takeover proceeded, so guidance may change. 
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Reporting season may hold key residential market indicators for investors

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Kirstin Ferguson has been appointed to the board of Leighton Holdings as an independent non-executive director, and as part of the construction company's current restructure.
She is currently a non-executive director of SunWater, Hyne and the Queensland Theatre Company, and is completing a PhD in corporate governance. She has also served as an NED with Queensland Rugby Union and as Chairman of the Thiess Advisory Board.
She was the CEO of Sentis before commencing her non-executive career, and a director of corporate services and COO at law firm, Deacons.
Ferguson is a strong advocate for women on boards and in leadership positions, and has previously <a href="https://www.propertyobserver.com.au/https://www.womensagenda.com.au/career-agenda/leaders/why-you-have-to-earn-a-sponsor/201212091301">shared her advice</a> to aspiring female directors with Women's Agenda.
This article first appeared on <a href="https://www.womensagenda.com.au/" target="_blank">Women's Agenda</a>.
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New female board member for Leightons

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Frasers Centrepoint has secured Australian Foreign Investment Review Board approval for its $2.6 billion bid for Australand.
<h2>FCL advised last night it has received a "statement of no objections" from the FIRB in relation to its proposed acquisition.</h2>
The Singapore-listed property giant recently trumped a competing offer from Stockland Corp for Australand.
FCL, whose main shareholder is Thai billionaire Charoen Sirivadhanabhakdi, is one of the Singapore's biggest property companies.
Australand, which was once majority owned by CapitaLand, has residential, commercial and industrial property projects.
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Frasers Centrepoint gets foreign investment review board approval for Australand bid

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Scentre Group has raised more than $3 billion in European bonds overnight as the Westfield spinoff secured the large deals by the Australian company. 
The deal was spread across four tranches with four to 12 year maturities:
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<li>
£400 million 12 year fixed rate senior guaranteed notes with a coupon of 3.875%.
</li>
<li>
€600 million 10 year fixed rate senior guaranteed notes with a coupon of 2.25%.
</li>
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€600 million six year fixed rate senior guaranteed notes with a coupon of 1.50%.
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€400 million four year floating rate senior guaranteed notes at a spread of 0.65% over three month EURIBOR.
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</ul>
BNP Paribas, HSBC, Barclays and Deutsche Bank did the deal.
Scentre Group, which was formed only last month following a highly controversial demerger vote, holds the Australian and New Zealand operations of Westfield Retail Trust and Westfield Group.
The proceeds will be used to partially refinance Scentre Group’s $A5.0 billion bridge facility. Australian Financial Review columnist Tony Boyd noted offshore capital markets offer Australian companies the opportunity to lock in the cheapest long-term debt funding in more than six years.
Tony Boyd added it was now cheaper for companies to borrow in the Euromarkets than in the US, the world’s most liquid and active bond markets.
 
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Just three weeks old, Scentre Group raises $3.045 billion in cheap European bonds

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Falling debt costs and share buy backs have supported the valuations of Australian Real Estate Investment Trusts, a top performing fund manager in the sector has said.
Smaller AREITs with exposure to residential property have also performed well over the past year, Zurich Australia senior investment specialist Patrick Noble told Property Observer.
“We still see the recovery on the east coast is supporting those with residential exposure or exposure to economic activity in this part of the world,” Noble said.
Listed residential developers Villa World and Peet were strong performers in the portfolio of the Zurich Renaissance Australian Property Securities fund, which is managed by Renaissance Property Securities. Villa World gained around 70% in the 12 months to the start of June, while Peet added 9.5% over that timeframe.
Retirement village owner/operator Ingenia Communities had also done well for the portfolio, gaining more than 160% over the past two years. Noble said the manager had started to sell its holdings in that stock to take profits.
The Zurich Renaissance fund made no gains through May, but was the top performer in its sector over three and five years, returning 15.9% and 18.6% respectively over those timeframes, according to Morningstar data.
Over three years, the S&amp;P/ASX 200 AREIT index rose 13.8% and the average fund manager gained 14.2%, Morningstar’s latest monthly sector survey showed. Over five years, the index returned 14.6% and the average fund manager returned 15.4%.
Noble said the managers at Renaissance pursued an active value style of investing, meaning they researched individual AREITs and invested in those they believed to be undervalued by the market. It aimed to outperform the benchmark by 1.5% a year over three year rolling periods.
The manager had a preference at present for AREITs like Charter Hall Group, which earned income from development and funds management.
“When markets improve they get more fee income which boosts earnings. In this market, their income is growing,” Noble said.
It was avoiding those with exposure to the office and retail markets.
The office market was challenged by strong competition for lease renewals and extra supply of office buildings that were under development.
High rent costs and low income growth made the retail sector less attractive than other parts of the market, Noble said. 
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AREITs benefitting from falling debt, share buy back schemes: Zurich Australia fund manager

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Centuria Capital, the ASX-listed diversified funds manager that includes unlisted property funds, has appointed Haydn Stephens as head of transactions.
Stephens will work with Centuria’s senior executive team or originate and manage the company’s property transactions, as well as analysing corporate activity and oversight of the acquisitions team.
Stephens comes to the company with more than 15 years’ experience in the financial industry, with a decade exclusively focussed on real estate and real estate funds management. It’s noted that he has previously been largely involved in transaction-related roles, including capital transactions and the raising of debt and equity.
He held previous roles at Stockland, GPT, LaSalle Investment Management and Merrill Lynch.
Jason Huljich, CEO of Unlisted Property Funds said that his experience in real estate, and strong corporate finance and investment background will be a benefit.
“Real estate investment opportunities are no longer just in the direct arena, Hadyn’s skill set and experience will be invaluable as we pursue the Group’s expansion strategy in the unlisted retail, wholesale and listed sectors,” he said.
Stephens commences on 7 July.
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