<a href="https://www.apartments.com.au/developers/capital-corporation">Capital Corporation</a> has announced that its <a href="https://www.apartments.com.au/new-townhouses/lovedale-farm-1054-1184-wine-country-drive-lovedale-nsw-2325">Lovedale Farm</a> residential, resort and golf project has secured $24.6 million in sales in just three weeks since the opening of its display home, underscoring the appetite for premium lifestyle property in the Hunter Valley countryside.

The sales milestone has been driven by a diverse mix of buyers, including owner-occupiers and investors from Sydney, Newcastle and the local Hunter region, purchasing both land-only lots and house and land packages across the development.

<img alt="Lovedale" data-entity-type="file" data-entity-uuid="e173edc9-e60e-4f19-a060-9dc4421a3233" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/LovedaleFarm_20250215-1.jpg?VersionId=1LY6CvOaD.Dzrt8tWpWxXtPyfchixNIo" />

&nbsp;

The result builds on the momentum generated at the display home opening on 22 March, which attracted more than 460 attendees.

With house and land pricing from $1.14 million, Lovedale Farm continues to attract strong interest from buyers seeking a premium lifestyle offering at a compelling price point. The development’s vision, a championship golf course, future epicurean village and access to the Hunter Valley’s celebrated wine country, has resonated with a broad buyer profile, from first-time investors to those looking to make the move and call the Hunter Valley home.

<img alt="Lovedale Farm records $21.4 million in sales in three weeks" data-entity-type="file" data-entity-uuid="b358e789-e1eb-40ed-8105-ed5c8297136f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/20260321LovedaleFarmDisplayHomeOpening--6.jpg?VersionId=6GUO8TNnxuELONrsM6n9imDB6oc82Bor" />

Jim Hunter, Managing Director of Capital Corporation said the response since opening the display home has been encouraging.

"To reach $24.6 million in sales in just three weeks speaks to the genuine demand for a lifestyle community of this calibre in the Hunter Valley," Hunter says.

"We’re seeing buyers from across the region and beyond, including investors who recognise the long-term value, and owner-occupiers who simply want to live somewhere truly special.

“Lovedale Farm is two decades in the making, and the market’s response is everything we hoped for. We’re excited to see these first buyers become part of the Lovedale Farm story from the very beginning."

<img alt="Lovedale" data-entity-type="file" data-entity-uuid="54d985cf-2ac2-400b-ac02-4401f3421ac7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/20260321LovedaleFarmDisplayHomeOpening--5.jpg?VersionId=3866bPoqpLZsm.3ACg9EafAr1W3miC_f" />

&nbsp;

Spanning 240 hectares on Wine Country Drive in <a href="https://www.apartments.com.au/developments/lovedale-nsw-2325">Lovedale</a>, the $1 billion development is expected to deliver around 1,250 jobs during construction and inject more than $300 million into the local economy. The first 200 homes and championship 18-hole golf course are anticipated for completion in late 2027.

Capital Corporation has also lodged development plans for the Lovedale Farm clubhouse, set to become a vibrant hub for residents and the wider Hunter Valley community. Further releases are planned for later this year.

[smartcode_project_cta:default project_id=14476]

Joel Robinson

Lovedale Farm display home opening triggers $24.6 million in sales in three weeks

Prominent Malaysian developer <a href="https://www.apartments.com.au/developers/osk-property">OSK Property</a> has unveiled <a href="https://www.apartments.com.au/new-apartments/aura-at-melbourne-square-7-hoff-boulevard-southbank-vic-3006">Aura</a>, the next stage of its $3.5 billion Melbourne Square precinct in Southbank, continuing its push into wellness-led, amenity-rich apartment living.

The $800 million tower, planned for 7 Hoff Boulevard, will rise 67 storeys and deliver 673 apartments, with COX Architecture drawing on both Japanese design principles and Australia’s natural landscape to shape the building’s identity. A rectangular grid aesthetic defines the building’s exterior, with COX drawing design cues from New York high-rises and Tokyo’s skyline.

Aura builds on a growing trend in high-density living, where wellness is no longer an add-on but central to the product. The development is structured around four key pillars, combining calm, minimalist residences with layered communal spaces, landscaped gardens, and a suite of wellness amenities designed to support both physical and mental wellbeing.

[smartcode_project:default project_id=151921 project_image_fid=367465]

At the core of the project is what OSK describes as a vertical wellness ecosystem, a multi-level approach to amenity that integrates health, lifestyle, and social spaces throughout the building rather than confining them to a single level.

The main resident hub, the Aura Club on level seven, will include a pool, cold plunge, spa, gym, Pilates and yoga studios, alongside more lifestyle-driven inclusions like a golf simulator, music rooms, library, and work-from-home spaces. Above, a series of higher-level amenity zones, including the Meridian Club and Cumulus Club, introduce more refined, social and retreat-style environments, with private dining, lounges, and premium wellness spaces positioned to take advantage of city views.

[smartcode_project:default project_id=151921 project_image_fid=367467]

The residences themselves will largely include balconies, a key design move in a market increasingly focused on natural light, airflow, and connection to the outdoors. Views will extend across the CBD, the Arts Precinct, Royal Botanic Gardens, and beyond.

Aura also introduces approximately 1,600 sqm of retail across the lower levels, further activating the Melbourne Square precinct, which already includes Kennedy Park, a Woolworths, childcare, and a growing mix of hospitality operators.

[smartcode_project:default project_id=151921 project_image_fid=367474]

“Aura stands tall as an exemplar of holistic wellness – its focus on social, physical and mental health culminate in a building that is calming, restorative and relaxing, where residents will have their own sanctuary within the well-connected and sought-after <a href="https://www.apartments.com.au/developments/southbank-vic-3006">Southbank</a>," says&nbsp;OSK Property CEO Chong Boon Woon.

“We have been very encouraged by the market’s response to the BLVD offering, and we know there is a strong demand for the level of amenity, service and design that the Melbourne Square precinct is known for.

“Complemented by work-from-home lounges for professionals, family friendly outdoor garden spaces, and state-of-the-art fitness and wellness facilities, Aura will continue our focus on maximising physical, emotional, and mental wellbeing,” he said.&nbsp;

[smartcode_project:default project_id=151921 project_image_fid=367475]

The project follows the strong performance of BLVD, which is now around 80 per cent sold, and reinforces OSK Property’s long-term commitment to Melbourne Square as a fully integrated, mixed-use precinct.

Construction is expected to commence in late 2026.

[smartcode_project_cta:default project_id=151921]

OSK unveils AURA, the latest stage in Southbank's $3.5 billion Melbourne Square precinct

National developer Time &amp; Place appears to have settled on a design for its long-anticipated Potts Point project.

After several years of back and forth with local council and the NSW Government, the developer, which has spent seven years targeting the former The Chimes site on Macleay Street, has now progressed its plans.

Following a concept design submission last year by SJB, Time &amp; Place has lodged a full State Significant Development Application with the NSW Government, this time for a scheme designed by Kerry Hill Architects.

<img alt="Time &amp; Place" data-entity-type="file" data-entity-uuid="504d2a27-d65f-4227-8189-1e35e3376e62" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-20%20at%209.38.24%E2%80%AFAM.png?VersionId=_XqFKATYHF30KnVByPxhaI9UBzmkmfn7" />

The 16-storey proposal includes 44 apartments, 21 of which will be build-to-sell. These will comprise 19 three-bedroom apartments and two four-bedroom units.

More than 50 per cent of the development will be dedicated to affordable housing, with 23 studio apartments to be delivered in line with the NSW Government’s Housing SEPP.

Kerry Hill Architects said the proposal is driven by a strong response to place.

“Our proposal for a new residential building for Potts Point in Sydney is driven by a deep consideration of place,” the practice said in its submission.

“This operates on multiple levels, including a landscape approach that reinstates endemic flora of the Sydney peninsula and provides a ground-floor garden for residents, reconnecting the site to its pre-European history. A brick podium further strengthens this relationship to context, integrating planting and fine bronze detailing that references the predominant material language of Macleay Street.”

The three-level podium will be topped by a communal resident space, featuring a covered pool designed to receive direct afternoon sun in winter, a neighbouring reflection pool, dining and event areas oriented to maximise sunset views, and an outdoor exercise zone.

<img alt="Time &amp; Place" data-entity-type="file" data-entity-uuid="8d3eedc1-babb-44a3-bd96-d8a42f3adf1f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-20%20at%209.37.48%E2%80%AFAM.png?VersionId=Ii7.4dvqNatu5GQi6bhqNjAswrMB998." />

The design also incorporates highly crafted shopfronts and a clearly defined residential entry to activate the street. Juliette balconies to the podium residences will provide passive surveillance and a strong sense of habitation.

Above, the larger apartments are housed within a light-coloured masonry and bronze tower.

“The tower steps back in a series of gently curved volumes that reference the rich Art Deco context of Macleay Street,” the architects said. “Carefully calibrated vertical fins frame the views while providing privacy and a sense of refuge.”

<img alt="Time &amp; Place" data-entity-type="file" data-entity-uuid="6fab60f4-3140-4469-b47a-48c781e0a30b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-20%20at%209.28.44%E2%80%AFAM.png?VersionId=e5XxrM3kzdASdKlcIACHAHbOSZhSKC9O" />

Time &amp; Place has been one of the most active developers nationally in the last 12 to 24 months. Late last year they completed&nbsp;The Queensbridge in&nbsp;<a href="https://www.apartments.com.au/developments/southbank-vic-3006">Southbank</a>, a mixed-use tower with 353 apartments and a hotel. They are currently selling Park Modern, 246 apartments near the famous Botanic Gardens in South Melbourne.

The developer has approval for The Burke, a mixed-use project in&nbsp;<a href="https://www.apartments.com.au/new-apartments/glen-iris-vic-3146">Glen Iris</a>&nbsp;being delivered in partnership with Woolworths. The 60 apartments, positioned above a new Woolworths supermarket, are expected to launch in the coming months. Time &amp; Place is also progressing plans for the redevelopment of&nbsp;<a href="https://www.apartments.com.au/developments/northcote-vic-3070">Northcote</a>&nbsp;Plaza, and have recently submitted plans for a <a href="https://www.apartments.com.au/news/vic/time-place-unveils-plans-22-storey-south-melbourne-tower">22-storey tower</a>, another in South Melbourne.

In&nbsp;<a href="https://www.apartments.com.au/developments/sydney-nsw">Sydney</a>, the developer has two projects in Manly: Two Tides, which is currently under construction, and an ultra high-end building on&nbsp;<a href="https://www.apartments.com.au/buildings/shoreline-manly-beach-89-90-north-steyne-manly">North Steyne</a>, fronting the beach. It is also continuing to work through the redevelopment of The Chimes building on Macleay Street in&nbsp;<a href="https://www.apartments.com.au/developments/potts-point-nsw-2011">Potts Point</a>, as well as Marlborough House, the redevelopment of the original David Jones warehouse building in&nbsp;<a href="https://www.apartments.com.au/developments/surry-hills-nsw-2010">Surry Hills</a>.

First look: Time & Place settles on design for The Chimes, Potts Point redevelopment

<a href="https://www.apartments.com.au/developers/develotek">Develotek</a> is joining the likes of TOGA, Deicorp, and One Global Capital, betting on a boom in Five Dock ahead of the 2032 mooted opening of the Five Dock Metro Station.

Develotek, which is currently developing Bianca on the Drummoyne waterfront and has plans approved for a tower in Chatswood, has filed a State Significant Development Application for a <a href="https://www.apartments.com.au/new-apartments/79-81-queens-road-five-dock-nsw-2046">two-building project in the evolving Kings Bay precinct</a>.

The buildings, one more boutique just five storeys and the other 26 storeys, will rise from an 3,158 sqm site across&nbsp;79–81 Queens Road and 2–8 Spencer Street, will home 134 one-, two-, and three-bedroom apartments, above ground-floor retail and five basement levels of parking.

A key component of the proposal is the inclusion of 15 per cent of residential floor space as in-fill affordable housing, unlocking additional height and density under the Housing SEPP.

<img alt="First Look: Develotek lodges State Significant shop top housing project in Five Dock precinct" data-entity-type="file" data-entity-uuid="3ee31bf7-75ba-4bc5-b190-49885193219f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/podium_2.png?VersionId=730UbrduuwK3C1sO28RHjiLPUPqXqjkh" />

Designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a>, the scheme adopts a podium-and-tower configuration, with a five-storey street wall along Queens Road transitioning to a 26-storey tower set deeper into the site. The ground plane prioritises activation and permeability, with retail frontages and a new through-site link connecting Queens Road to Spencer Street.

At the upper levels, the tower façade has been conceived using a modular system to support prefabrication and reduce construction waste, while improving build efficiency. The splayed form draws on the geometry of surrounding industrial rooftops, reinterpreting the area’s heritage in a contemporary expression while also helping to reduce solar heat gain to east and west-facing apartments.

“This project aspires to transform a former industrial site into a connected, resilient and people-focused urban community, grounded in Country, shaped by history, and designed to enrich everyday life within the evolving Kings Bay Precinct,” said John Walsh, Principal at Plus Studio.

The proposal reflects the broader transformation of the Kings Bay Precinct under the Parramatta Road Corridor Urban Transformation Strategy, marking a shift from its industrial past to a higher-density, mixed-use urban neighbourhood.

<img alt="First Look: Develotek lodges State Significant shop top housing project in Five Dock precinct" data-entity-type="file" data-entity-uuid="abde734c-1e31-4a97-a1d2-fa9bcf31c380" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/building%20podium.png?VersionId=fNUupP6u146yEytQT31kKVRxwtACgPpP" />

Develotek is emerging as an active participant in the state’s affordable housing-led uplift pathway. The developer recently secured approval for a 34-storey mixed-use tower in Chatswood, where it similarly leveraged the in-fill affordable housing provisions to increase scale and deliver a 101-unit scheme with dedicated affordable apartments.

Their entry into Five Dock places them alongside a growing list of developers targeting the suburb ahead of its anticipated transport uplift, with Sydney Metro set to extend into the area. Major players including TOGA, Deicorp, and One Global Capital are all progressing large-scale precinct-style developments nearby, collectively reshaping the low-rise industrial fabric into a higher-density mixed-use corridor.

The Five Dock site sits within the Kings Bay Precinct, a key renewal area under the Parramatta Road Corridor Urban Transformation Strategy, where planning controls support significant uplift tied to affordable housing delivery. The consolidated 3,158 sqm site is currently occupied by low-rise industrial uses, including warehouses and vehicle workshops, earmarked for transition.

First Look: Develotek joins in Five Dock apartment boom

Ascot’s Racecourse Road continues to be a hive of activity for Brisbane developers.

Following Fortis and GRAYA, which are both preparing new projects along the key strip connecting Kingsford Smith Drive and Eagle Farm Racecourse, local developer <a href="https://www.apartments.com.au/developers/skyhold">Skyhold</a> is the latest to lodge plans for its own development.

The group is proposing One One Two Residences, a boutique project comprising just seven apartments, named after its address at 112 Racecourse Road.

The proposal outlines a five-storey building on an 810 sqm site. The built form slightly exceeds the four-storey expectation under the neighbourhood plan, aligning instead with the emerging character of the strip. As the planning report notes, “the locality is characterised by a transition toward medium-rise residential development, with a number of recent developments… above the stipulated height limits.”

<img alt="First Look: Skyhold lodges plans for boutique Ascot apartments as Racecourse Road revival gathers pace" data-entity-type="file" data-entity-uuid="ec577631-8c51-4163-960e-e7b3a77d655b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Ascot.png?VersionId=iAzQ46D4Uu1UqiS0mVnlcy9jeFKBpJIj" />

Designed by 111 with landscape architecture by <a href="https://www.apartments.com.au/landscape-architect/paul-bangay-garden-design">Paul Bangay Studio</a>, the scheme adopts a layered architectural approach with strong articulation and a subtropical response. Deep balconies, integrated planters, and a mix of masonry and textured finishes define the façade, while upper-level setbacks reduce perceived bulk. The architectural statement describes “a series of horizontally expressed layers, defined by deep balconies and a consistent robust material palette,” aimed at delivering a refined streetscape presence.

Apartments are configured as large-format residences, including multiple three-bedroom layouts and a full-floor penthouse, supported by ground-level parking. A rooftop terrace will provide communal amenities including a pool and landscaped recreation areas. The design prioritises privacy, natural ventilation, and greenery, with planting integrated across all levels to soften the building form and contribute to the public realm.

<img alt="First Look: Skyhold lodges plans for boutique Ascot apartments as Racecourse Road revival gathers pace" data-entity-type="file" data-entity-uuid="1e1219bd-b45a-4d7f-bbc7-7207d7b2fc94" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Ascot%20entry.png?VersionId=JIoUOLMgQ5xWpEF0etEI3ffIoIVjD7gO" />

The proposal sits within the Racecourse Road precinct, a key mixed-use spine in Ascot that continues to attract renewed development interest.

Later this year national developer Fortis will launch its own boutique development, which, pending council approvals, will be 16 apartments designed by Koichi Takada Architects, just down the street.

“Racecourse Road is going through a massive revitalisation and we’re proud to be a part of that transformation,” said Fortis's QLD General Manager, Dan Boman.

Nearby, GRAYA is advancing its larger-scale The Gallery, a mixed-use shop-top housing project designed to act as a “catalytic project for Racecourse Road.”

First Look: Racecourse Road, Hamilton revitalization to continue as Skyhold joins the party

Retail News

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EXPERT OBSERVATION
The March retail report showed a slightly better than expected monthly gain but a materially weaker than expected result for March quarter sales volumes, the latter being the more important takeaway.
Monthly sales posted a 0.3% gain, beating expectations of a 0.2% rise with Feb’s surprisingly firm 0.8% gain marked up to a 0.9%. Annual growth lifted from 3.2%yr to 3.5%yr.
That’s where the good news ends though. The wash up for the quarter as a whole showed all of these gains in nominal sales were due to higher prices with sales volumes declining.
Real retail sales dipped 0.1% in Q1, coming in well below consensus expectations of a 0.3% gain with the quarter on a par with the flat result in Q4. Annual growth has slowed to 1.1%yr but with a cumulative gain of just 0.2% over the last three quarters is in danger of dropping below 1%yr next quarter.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/5/31/New%20Project%2022.jpg" alt="">
The undershoot vs expectations was due to a stronger than expected rise in retail prices which rose, up +0.8%qtr vs +0.7%qtr in Q4. The sub-category detail shows a particularly big rise in food prices (+1.4%qtr vs 1.2% in Q4). Non food retail prices posted a 0.2%qtr gain.
The detail also points to a material slowing in sales across sub-categories associated with ‘big ticket’ discretionary spend, consistent with a wealth effect drag from the housing market correction. In particular, household goods retail volumes declined 0.6% in the quarter to be flat over the year, a marked slowdown on the 5.4%yr growth seen this time last year. Department stores also recorded a contraction, sales volumes down 1.2%qtr, and –0.7%yr. Other non food categories, mostly ‘small ticket’ discretionary, recorded small gains for the quarter and over the year. Cafes and restaurants were the only bright spot, recording a 1%qtr gain in Q1 to be up 1.4%yr.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/5/31/New%20Project%2023.jpg" alt="">
By state, NSW was the only state to post a gain in Q1, up 0.6%qtr, but was coming off a bigger 1.1%qtr fall in Q4, annual sales growth slowing to just 0.9%yr. Results across the other states were: Vic –0.3%qtr, +2.3%yr; Qld –0.1%qtr, +1.5%yr; SA –0.4%qtr, –0.4%yr; WA –0.6%qtr, –0.7%yr and Tas –0.9%qtr, +1.7%yr. The broad based weakness in the quarter suggests that it is not just about spillovers from the correction in housing markets which to date has been largely confined to NSW, Vic and WA.
Looking by channel, online sales look to have posted a 0.7% gain in the March month, annual growth slowing to 'just' 12.7%yr, a subdued gain for this segment.
Overall the March retail report points to downside risks to the wider consumer spending estimates in the March quarter GDP, the headwinds that emerged in the second half of last year clearly carrying into 2019. 
MATTHEW HASSAN is a Senior Economist for Westpac. 
Read full article <a href="https://westpaciq.westpac.com.au/wibiqauthoring/_uploads/file/Australia/2019/May/er20190507BullRetailQ1.pdf" target="_blank">'Australian retail sales Q1'</a>.
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Matthew_Hassan-HHWHptmrw4

Retail volume results materially weaker than expected: Westpac's Matthew Hassan 

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Men’s fashion chain Ed Harry has become the first retail administration of 2019 with the bricks and mortar retail collapse putting 500 jobs at risk.
The first Ed Harry menswear store opened in Glenelg, South Australia, in 1993.
Ed Harry employs more than 500 people with over 80 stores.
They include new stories at Strathpine in Queensland, DFO Perth at Perth Airport, Western Australia, and Riverlink at North Ipswich, Queensland.
Longtime landlords include Stockland Green Hills at East Maitland, New South Wales; Westfield Plenty Valley at Mill Park, Victoria, Stockland Traralgon, Westfield Kotara in New South Wales, and Stockland Merrylands in Sydney.
Ed Harry continued a long tradition started in 1932 by Victor Harry (joined later by his son Edward) of affordable men’s clothing.
In 2011 Ed Harry was acquired by the Specialty Men’s Apparel group with many new-look stores opening in Victoria, Western Australia and Sydney. 
Ed Harry also relocated its national head office to Port Road in Hindmarsh, SA.
More than 100 South Australian retail jobs are at risk.
<div class="stockist-box" data-ind="87" data-id="90" data-latitude="41.934414" data-longitude="-74.002998" data-title="Riverlink (New store now open)" data-adr="Downs Street &amp; The Terrace&lt;br/&gt;North Ipswich, Queensland, 4305&lt;br/&gt;" data-desc="Phone: &lt;a href='tel:0438 209 323'&gt;0438 209 323&lt;/a&gt;&lt;br/&gt;" data-ext="&lt;p&gt;&lt;strong&gt;Store Hours:&lt;/strong&gt;&lt;/p&gt;
&lt;p&gt;Monday 9am–5:30pm&lt;/p&gt;
&lt;p&gt;Tuesday 9am–5:30pm&lt;/p&gt;
&lt;p&gt;Wednesday 9am–5:30pm&lt;/p&gt;
&lt;p&gt;Thursday 9am–9pm&lt;/p&gt;
&lt;p&gt;Friday 9am–5:30pm&lt;/p&gt;
&lt;p&gt;Saturday 9am–5pm&lt;/p&gt;
&lt;p&gt;Sunday 10am–4pm&lt;/p&gt;&lt;br/&gt;"> </div>
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j.ballantyne1990-6AQqhLzZaK

Ed Harry collapse puts 80 retail landlords on alert

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Temple &amp; Webster, which suggests it was becoming "the next Harvey Norman" has reported its inaugural profit.
It claims to be Australia’s largest e‐commerce company in the furniture and homewares market.
Temple &amp; Webster has over 130,000 products on sale from over 700 suppliers.
Temple &amp; Webster earned $300,000 before interest, tax, amortisation and depreciation in the June-half following a 24% rise in revenues.
The company finished the year with a cash balance of $9.9 million and had net cash flows of $600,000 in the June quarter.
"[Two] years ago we promised our shareholders we would reach profitability during calendar year 2018 without having to raise additional capital, and I am proud to say that we achieved this goal," Coulter said in a statement on Monday.
He expected Temple &amp; Webster to be EBITDA positive in 2019, eight years after its launch in 2011 and two year after being floated in 2016 with its management team, including Mike Henriques (former Wayfair Australia GM) and Sven Lindell (ex Bras N’ Things, Woolworths and Rebel).
Temple &amp; Webster shares rose 7% to 76¢, compared with their issue price of $1.10.
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E-commerce furniture and homewares store Temple & Webster makes its inaugural profit

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Oroton stores will operate as usual after the 79-year-old luxury handbag retailer fell into voluntary administration.
"The board is disappointed that it has had to take this step after running such a comprehensive process," interim chief executive Ross Lane, the grandson of Oroton founder Boyd Lane, said in a statement to the ASX on Thursday.
"However, having carefully considered the options available to the company at the conclusion of its strategic review, it is apparent that voluntary administration is necessary to protect the Oroton business and the future of this iconic Australian brand."
The group's 62 Oroton stores across Australia, New Zealand and Malaysia, which employ about 550 staff, will continue to operate as administrators from Deloitte Restructuring Services look at recapitalising or selling the brand.
The Lane family have a 22% stake, with fund manager Will Vicars having an 18% stake.
Entities controlled by Vicars entered a put and call arrangement with Westpac to secure critical credit support for Oroton in August.
Oroton sank to a $14.3 million loss in the year to July, compared to a $3.4 million profit the previous year.
Contributing to the loss were costs linked to its wind-down of its Gap franchise after it terminated an agreement with the US apparel group.
The group's shares, which have been suspended, last traded at 43.5 cents.
The company's December 1 annual general meeting has been postponed.
The first creditors meeting is set for December 11.
"However, having carefully considered the options available to the company at the conclusion of its strategic review, it is apparent that voluntary administration is necessary to protect the Oroton business and the future of this iconic Australian brand," the board advised the ASX.
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Oroton's 62 stores to continue trading as administrators move into luxury handbag chain

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<div>
<div>
The loss-making Australian Geographic retail chain of 67 stores could disappear by March 2017.
The Myer Family Investments vehicle, owned by one of Australia's richest families, has owned the chain since 2007.
The Australian Financial Review said commercial property sources said individual store leases at some of the outlets were being offered to rival retailers as the Myer family tries to salvage some value from a retail business that had been generating annual sales of close to $50 million.
It is understood the retail chain has been quietly offered to potential buyers but that avenue has been largely unsuccessful, leading to plans for a wind-down of the business.
</div>
<div>It follows the Australian Broadcasting Commission deciding 12 months ago that the national broadcaster would shut its 50 ABC Retail store network.</div>
<div> </div>
<div>Records lodged with the Australian Securities and Investments Commission show that financial accounts lodged by Australian Geographic Retail for the 2014-15 financial year indicate the business reported a loss of $3.34 million, a worse result than the previous year when it reported a loss of $2.54 million. </div>
</div>
<div>
Australian Geographic's total revenue was $49.1 million in 2014-15, up from $44 million in the previous year.
</div>
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jonathanchancellor-7SQnKwU6yx

Australian Geographic retail stores tipped to close

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Vacancy across Melbourne’s 10 key retail strips has fallen by a quarter over the last four years, driven largely by strong population growth in the city's inner suburbs, according to the latest Savills research.
The research found that overall vacancy rate had fallen to 7 percent from 9.5 percent over the four years from May 2012 with 184 shops now vacant, down from 253.
Glenferrie Road, Hawthorn and Church Street, Brighton were the top performers with vacancy rates of 2.1 and 2.3 percent respectively, while Bridge Road trailed the field at 13.6 percent. 
Savills Victorian research manager, Monica Mondkar, said while vacancy in some strips remained high, the most vibrant retail and entertainment precincts outside of the CBD were doing well and could look forward to continued growth as Melbourne’s inner suburbs recorded double digit population growth.
"Some strips, such as Bridge Road, have struggled in recent years but that has been more to do with tenancy mix and a lack of local government initiatives," she said.
"Retailers in the most popular strips, such as Chapel Street, South Yarra and Toorak Road, Toorak, can generally now look forward to tighter vacancy with stronger fundamentals underpinned by the massive influx of residents to new apartment developments.
"Retailers left behind will be those in strips where the mix of retailers has failed to attract consumers and where they lack effective local government support.’’ 
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Of the 2,620 shops surveyed, the Cafes, Restaurants &amp; Takeaway Food Services category had seen the largest increase of 20 percent to 581 shops, Services was up 12 percent to 612 shops, while Clothing, Footwear &amp; Accessories fell 15 percent to 663 stores.
Notable leases included those of national fashion retailers, Peter Sheppard at 626 Burke Rd, Camberwell, Bendon at 143-151 Bridge Rd, Richmond, Mimco at 87 Church St, Brighton, Flannel at 40b Church St, Brighton, and Trenery at 1015 High St Armadale, while international brands, Canadian cosmetic retailer As Colour opened a store at 230 Chapel St, Prahran, and Nike leased space at 71-73 Church St, Brighton.
ABS retail trade (seasonally adjusted) indicates that Victorian retail trade grew by 5.2 per cent in the 12 months to March, above the national average growth of 4.1 per cent, while consumer confidence, buoyed by low interest rates, measured 103.2 points in May, up from 102.4 points a year ago.  
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Savills Victorian director-Retail Services, Michael Di Carlo, said the increase of 186 new stores in food and beverages and services retailing correlated with the dramatic growth in the number of apartments.
"Population growth has been the key to the growth in these sectors, and these are the sectors which cater for the most immediate needs of local residents. The decrease in fashion related stores, on the other hand, may be about the competition from national and international brands along with a preference for that type of shopping elsewhere including the CBD or the larger enclosed centres," Di Carlo said.     
He said yields and rents varied widely according to the particular attributes of the strip.
"Strip retail, especially suburban strip retail has long been a favourite of the small investor and in recent years that focus has intensified with the emergence of the SMSF and of course record low interest rates.
"Yields have always been tight in these markets but those factors have seen even further downward pressure to the point where yields around 3.5 to 4.5 per cent are now much more common,’’ Di Carlo said.
"Rents can vary dramatically between precincts and indeed, in some cases, within precincts  They are very much about the location, the position within the location and current and historic vacancy levels.’’
He said rents for strips shops in the best strip locations generally ranged between $800 and $1200 a square metre.    
 
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Vacancy in Melbourne’s top retail strips down 25 percent: Savills

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Woolworths' move to exit the Masters hardware chain have put REIT landlords Charter Hall, SCA Property and Aventus Property at some potential risk, according to The Australian.
But the fallout will not negatively impact on property values or rents in the wider retail sector, the research group BIS Shrapnel told the Australian Financial Review.
Instead BIS Shrapnel expect continued demand for household goods off the back of the residential construction boom. 
Longer term yields were likely to soften when the residential construction phase started to winds down, BIS said.
After a double-digit capital growth in 2015 there is expected to be an overall lack of supply of large new retail space to drive investor demand and push up capital values.
The REITs own just four of the 62 stores in the chain, with Macquarie Group analysts suggesting that these REITs are well placed to recoup unpaid rent.
Newy listed Aventus has exposure to one Masters store in Cranbourne in Victoria in its portfolio of 15 bulky goods stores.
SCA may turn their Mount Gambier town centre store into a bulky goods store or a supermarket.
Charter Hall has a contract to buy a third Masters site to add to the two stores they currently have in Sydney and Melbourne. 
"Large-format yields have firmed but they are still at a premium to other retail property, so there is scope for that gap to close further," said Maria Lee, senior project manager at BIS Shrapnel.
"Consumer demand should stay strong for the next couple of years because spending tends to lag housing construction and turnover. We are only seeing building commencement peaking now," she said.
BIS Shrapnel forecasts rental growth of over 3 per cent per annum over the next five years, compared with less than 1 per cent over the last five years, driven by continued demand for this type of retail space, as supply contracts.
New, large-format, retail supply reached over 600,000 square metres in 2015, the highest level of new building since the global financial crisis, comprising mainly  Bunnings and Master store openings, said BIS Shrapnel.
Ms Lee said Woolworths had already cut back its pipeline of new Masters stores.
She anticipated the likely subdivision of numerous Masters stores. Some will be taken over by Bunnings, she said. 
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