Developer <a href="https://www.apartments.com.au/developers/bottega-property-group">Bottega House</a> has secured council approval for its first Brisbane project - a $270 million luxury residential development on an absolute riverfront site in leafy St Lucia.&nbsp;

The 15-storey project, known as <a href="https://www.apartments.com.au/new-apartments/st-lucia-by-bottega-house-180-macquarie-street-st-lucia-qld-4067">St Lucia by Bottega House</a> , will occupy a prime north-facing site at 178-180 Macquarie Street, directly fronting the Brisbane River in the established inner-west suburb known for its rowing clubs, golf courses and sprawling University of Queensland campus.&nbsp;

St Lucia by Bottega House will feature a suite of amenities including dedicated wellness spaces, a mineral pool and cold plunge. The project has been positioned to attract affluent owner-occupiers seeking high-quality, house-sized apartments.&nbsp;

Bottega House has been set up by co-directors Nick Malloch, Louis Mennes and Craig Marsh.

Malloch said the project drew inspiration from its Brisbane River setting and leafy inner-west surrounds, while responding to the demands of discerning locals looking to transition from freestanding homes into apartment living.&nbsp;

"With an expansive river frontage and lush green surrounds, we knew we had to create something special that reflects the natural beauty of the location while offering residents masterfully crafted homes," said Malloch.&nbsp;

"Our intent was to complement the project's quiet, private setting by introducing residences that offer a calm retreat and sanctuary from the everyday. The result is a harmonious blend of architecture, interiors and amenity that emphasises wellbeing, comfort and beauty without excess."&nbsp;

Malloch added that project consultants had been carefully selected in alignment with Bottega House's commitment to care, quality and attention to detail. The design team includes architects <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a>, interiors practice <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and landscaping by <a href="https://www.apartments.com.au/architects/urbis">Urbis</a>.&nbsp;

Three-bedroom apartments are expected to start around $5 millio. Selling agents Keenan &amp; Byrne said the pricing strategy for the project was anticipated to achieve upwards of $25,500 per square metre.&nbsp;

The project's development approval this week follows the success of Bottega House's inaugural Queensland project - a 22-storey collection of full-floor sky homes at Broadbeach on the Gold Coast which included the sale of a two-storey penthouse at a record price for a beachside residence.&nbsp;

St Lucia by Bottega House is expected to launch to market in November, with construction anticipated to be completed mid 2029.

[smartcode_project_cta:default project_id=151826]

Joel Robinson

Bottega House to make Brisbane debut with St Lucia riverfront apartment development

<a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> is advancing its affordable apartment model into Brisbane with the acquisition of another site at Cordelia Street in South Brisbane for $27 million.

Sherpa, which has a $1.7 billion pipeline across Southeast Queensland, intends to bring a cohort of apartments exclusively for first homebuyers into its proposed 186-apartment project to be built at 2 Cordelia Street.

The Sherpa model has already been incredibly well received from their Gold Coast projects, where Sherpa Group set aside a number of apartments exclusively for first homebuyers.

The new $320 million project marks Sherpa Group's second development in Brisbane, following its $255 million Symphony project, also on Cordelia Street, which is currently under construction.

Symphony will deliver 146 apartments across 28 levels, offering a mix of one, two and three-bedroom apartments. With 114 already sold, construction by <a href="https://www.apartments.com.au/builders/lps-group">LPS Group</a> is scheduled for completion in 2028.

[smartcode_project:default project_id=7574 project_image_fid=351654]

Sherpa Founder, Christie Leet, said the company was excited to be venturing into Brisbane for its second residential project.

“We’re big believers in the future of Brisbane as we lead into the 2032 Olympics and beyond,” Leet said.

“The success of Symphony has guided us into what will be our second project and we look forward to submitting our plans with council soon so we can deliver yet another quality project to the inner city residential market.

“Our Flourish model has been very well received both in Brisbane and the Gold Coast, and we’re excited to be able to offer some of these apartments again exclusively to first homebuyers to help get them into the property market.

“The model has been extraordinarily well received in our previous projects and it is something we are committed to moving forward.”

2 Cordelia Street will be designed by <a href="https://www.apartments.com.au/architects/hal-architects">HAL Architects</a> &amp; Finegrain and will include Sherpa’s signature residential amenities including pool, gym, recreation, wellness and work from home spaces.

The project will feature ground-floor commercial space, creating a vibrant amenity for residents and the surrounding community.

A development application will be lodged with Brisbane City Council in August on the code compliant site and will be launched to the market early 2027.

Sherpa acquires new site for second Brisbane apartment tower

One of North Sydney's best-known commercial buildings could become hundreds of new homes, with insurance giant Zurich Australia lodging a State Significant Development Application (SSDA) to transform 5 Blue Street into a mixed-use residential development above North Sydney Station.

Rather than demolishing the existing building and starting again, Zurich is proposing an adaptive reuse project that would convert the landmark office building into a 15-level residential development delivering 62 apartments, 86 affordable co-living dwellings, activated retail and significant upgrades to the Blue Street Plaza.

The proposal reflects a growing trend of commercial property owners repositioning ageing office assets into residential housing as Sydney grapples with housing supply shortages and changing workplace demand.

<img alt="Zurich" data-entity-type="file" data-entity-uuid="0bba7d12-06dc-4375-aad7-238c94b21ac5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%2010.42.05%E2%80%AFAM.png?VersionId=NJl5oLAEBDGuPmY3RnyliKODjMc8lvRh" />

Located directly above North Sydney Metro and train station, the 3,051 sqm site occupies one of the most strategically positioned parcels of land on Sydney's Lower North Shore.

Designed by fjcstudio, the proposal seeks to retain and adapt much of the existing structure while creating a contemporary residential address that better connects with the public domain surrounding North Sydney Station.

The application proposes two basement levels, ground floor retail, affordable co-living accommodation across the podium levels, and apartments above, while preserving and enhancing the publicly accessible Blue Street Plaza.

Rather than pursuing maximum apartment numbers, Zurich has opted for a housing mix heavily weighted towards larger owner-occupier residences.

The proposal includes 62 build-to-sell apartments comprising 12 one-bedroom, 19 two-bedroom, 29 three-bedroom apartments and two premium penthouses. It also incorporates 86 affordable co-living dwellings, which would be managed in perpetuity by a Community Housing Provider.

That balance between traditional apartments and affordable housing reflects the NSW Government's push to increase housing diversity around major transport infrastructure.

The proposal has been lodged concurrently with a rezoning application, with Zurich arguing the site is ideally positioned to support additional housing given its immediate proximity to public transport, employment and services.

"The proposal aims to respond to the housing challenges facing Sydney through the delivery of diverse housing types in a highly accessible location," the design report by fjcstudio states. It also seeks to improve pedestrian amenity through upgrades to Blue Street Plaza while creating a high-performing residential building that responds to the surrounding context.

<img alt="Zurich" data-entity-type="file" data-entity-uuid="36082e15-c636-4481-bb68-5a5f6443fe39" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%2010.41.36%E2%80%AFAM.png?VersionId=5P6VD.fvmqjQfIG3TWWMRXxQWiQBjeFB" />

Rather than replacing the commercial building, fjcstudio has developed a design that works with the existing structural framework above the rail corridor, an approach that significantly reduces demolition while allowing the site to be repositioned as a mixed-use residential precinct.

The existing structural constraints have informed much of the building's design, including its relationship with Blue Street and surrounding public spaces.

The building has been designed as a slender tower rising above a clearly defined podium, with vertically expressed façades intended to reduce the perceived bulk while reinforcing North Sydney's emerging skyline.

According to fjcstudio, the architectural language responds directly to the surrounding commercial towers while maintaining a finer grain expression more closely aligned with the neighbouring Lavender Bay streetscape.

The tower incorporates articulated façade elements, landscaped podium edges and recessed upper levels to soften its appearance and improve pedestrian amenity below.

A significant component of the proposal is the revitalisation of Blue Street Plaza.

The existing public space has long served as one of the primary pedestrian connections between North Sydney Station, Greenwood Plaza and Blue Street, yet its role is expected to become even more important following the opening of Sydney Metro.

Zurich's proposal seeks to strengthen that role by improving landscaping, introducing new retail frontages, enhancing pedestrian permeability and creating more active edges throughout the day and evening.

Ground floor retail would wrap the plaza, while separate residential and co-living entries have been designed to improve wayfinding without reducing street activation.

Landscape design has been integrated throughout the podium and public realm, softening what is currently one of the most heavily urbanised parts of North Sydney.

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fjcstudio has carefully oriented apartments towards Sydney Harbour and the CBD while using privacy blades and articulated façades to minimise overlooking between neighbouring buildings.

Large framed openings along the western elevation maximise harbour outlooks, while the eastern apartments have been angled towards the south-east to improve privacy from neighbouring development.

The project forms part of the continuing transformation of North Sydney from a predominantly commercial CBD into a genuine mixed-use city centre.

Since the completion of Victoria Cross Metro Station, developers have increasingly shifted their attention towards residential projects capable of leveraging the area's unparalleled transport connectivity.

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FiveX recently lodged plans for a 61-storey, 490-apartment tower that would become one of the tallest residential buildings in North Sydney if approved.

Aqualand continues to expand its Lower North Shore presence following the completion of AURA on Walker Street and its recent St Leonards and Roseville proposals.

Developers are also progressing projects throughout Walker Street, Miller Street and the Victoria Cross precinct as demand for well-located owner-occupier apartments continues to strengthen.

First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station

Busy developer Aqualand Prestige has formally taken the next step in its expansion across Sydney's Lower North Shore, lodging a State Significant Development Application (SSDA) for its long-held Archer Street site in Chatswood.

The application covers <a href="https://www.apartments.com.au/new-apartments/51-55-archer-street-chatswood-nsw-2067">51-55 Archer Street</a>, a 1,767 sqm amalgamated site on the eastern edge of the Chatswood CBD, where the developer is seeking approval for a 45-level mixed-use tower delivering 114 apartments, including a significant affordable housing component, alongside retail, commercial space and six basement levels of parking.

The SSDA marks the latest milestone for a project Aqualand has been quietly progressing over the past two years. The developer first secured the site for its Aqualand Prestige platform before undertaking an alternative design excellence process with PTW Architects, ultimately avoiding a formal design competition through the Housing Delivery Authority pathway.

The proposal has evolved considerably from Aqualand's original concept. The revised scheme has been designed around larger owner-occupier product, with an unusually high proportion of three and four-bedroom apartments, targeting the more affluent buyer profile, and downsizer, emerging across the North Shore.

<img alt="Archer St" data-entity-type="file" data-entity-uuid="0171204c-5811-41b5-9b09-2335d1b7c3d0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%208.52.48%E2%80%AFAM.png?VersionId=6YTuxfq.puZo7k2wbfgemcO5K3QfXYGQ" />

The 114-apartment mix comprises six studios, 27 one-bedroom apartments, 18 two-bedroom apartments, 50 three-bedroom residences and 13 four-bedroom homes. A quarter of the building will be dedicated to affordable housing, well above the mandated 15 per cent&nbsp;

PTW has structured the building vertically, with affordable housing across levels one to six, premium apartments through levels seven to 31, duplex skyhomes on klevels 32 to 43, a penthouse on level 44, and a rooftop plant level above. Six basement levels will provide resident parking and servicing.

The tower is proposed to reach approximately 154 metres, placing it among a growing collection of residential high-rises transforming Chatswood's skyline.

Rather than competing purely on height, PTW says the design has been driven by creating a slimmer tower capable of delivering significantly larger apartments.

"The primary objective of this project was to create a distinctive building that stands out from the recently approved or built structures in the Chatswood area," the design report states, noting the structural efficiency allows greater investment into apartment quality and resident amenity.

Residents would have access to more than 450 sqm of communal open space including landscaped gardens, swimming pool, rooftop entertaining areas, fitness spaces, community gardens, children's play areas and barbecue facilities.

A major focus of the design has been the public domain.

The ground plane has been opened up through landscaped terraces inspired by Willoughby's sandstone ridges, with native planting, public seating, artwork, retail activation and a series of gathering spaces intended to soften what has traditionally been a hard commercial streetscape.

The landscape strategy references Blue Gum forests once common throughout the area, while incorporating Indigenous storytelling, public art and lighting installations to strengthen the connection to Country.

Chatswood has been one of Sydney's busiest apartment markets over the past 12 months, with a steady pipeline of both new project launches and fresh development applications.

Hyecorp recently launched Celine, a 122-apartment development just along Archer Street, while Changfa and Huirong Group are progressing The Anderson, an 84-apartment project on Anderson Street.

Develotek recently secured approval for a 101-apartment tower on Pacific Highway, while Tian An LFD received the green light for Hammond Greens, its apartment development on the edge of the Chatswood Bowling Club.

Commercial property developer FiveX is also making its move into the residential market. Last month it lodged plans for a 61-storey tower with 490 apartments, which, if approved, would become one of the tallest residential buildings in Chatswood.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-fivex-targets-chatswood-skyline-with-61-storey-tower-after-north-sydney-plans">First look: FiveX targets Chatswood skyline with 61-storey tower after North Sydney plans</a>

Aqualand is also expanding its development pipeline following the launch of its luxury residential brand, Aqualand Prestige. The developer has delivered a string of high-end apartment projects across Sydney's affluent suburbs over the past decade, most recently AURA by Aqualand on Walker Street in North Sydney.

[smartcode_project:default project_id=30959 project_image_fid=292863]

It has since quietly assembled its next wave of projects.

Earlier this year Aqualand launched Boronia in Roseville, a boutique 111-apartment development on Larkin Street. The project is one of the first significant apartment developments to launch in the suburb ahead of what is expected to become one of Sydney's most active new housing precincts under the NSW Government's Low and Mid-Rise Housing reforms, which allow greater density around train stations.

[smartcode_project:default project_id=152095 project_image_fid=373685]

The developer has also lodged plans for a two-tower, 413-apartment development on Herbert Street in nearby St Leonards, further strengthening its presence across the Lower North Shore.

Beyond that, Aqualand remains behind the final stage of Barangaroo, where plans will deliver a five-hectare mixed-use precinct comprising new homes, retail, hospitality and community facilities, alongside a new Metro entrance and more than two hectares of public open space, completing the Barangaroo precinct.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/central-barangaroo-development-takes-big-step-with-concept-proposal-approval">Central Barangaroo development takes big step with concept proposal approval</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-aqualand-joins-st-leonards-apartment-party">First look: Aqualand joins St Leonards apartment party</a> 
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First look: Aqualand pushes ahead with Chatswood apartment tower as SSDA lodged for Archer Street

Mass timber is becoming an increasingly popular construction material in apartment developments, but Adelaide developer <a href="https://www.apartments.com.au/developers/otello">Otello</a> is taking the approach a step further.

At its new <a href="https://www.apartments.com.au/new-apartments/flowe-bowden-18-gibson-street-bowden-sa-5007">Flowe Bowden</a> development, the exposed cross-laminated timber (CLT) structure isn't just about reducing the building's environmental footprint. It also forms the foundation of a broader wellness strategy, influencing everything from indoor air quality and natural materials to the way residents move through and experience the building.

The 115-apartment mixed-use development, designed by Melbourne-based architecture practice Fieldwork, will occupy a prominent island site opposite Bowden Village Reserve, combining one, two and three-bedroom apartments with retail and a dedicated wellness destination.

[smartcode_project:default project_id=152022 project_image_fid=375528]

Wellness isn't confined to a gym or shared resident facility at Flowe. Instead, Fieldwork embedded the concept into the building itself.

The development has been split into two residential wings connected by a naturally ventilated central breezeway, replacing traditional enclosed corridors with open-air walkways that improve natural light, encourage cross ventilation and create more opportunities for neighbourly interaction.

"Rather than treating wellness as something that only happens on the ground floor, our response integrates it throughout the building, which led us to ask what it really means to design a healthy building," Fieldwork Director Quino Holland said.

[smartcode_project:default project_id=152022 project_image_fid=375531]

The building's architecture also reflects Bowden's industrial heritage. The lower podium references the area's historic brick and sandstone buildings, while the upper levels transition to exposed CLT, allowing the timber structure to become a defining feature throughout the apartments and shared spaces.

The use of mass timber sits alongside a range of sustainability initiatives, including a fully electric, gas-free design, rooftop solar and a targeted 5 Star Green Star rating.

[smartcode_project:default project_id=152022 project_image_fid=375524]

Inside the residences, the focus remains on natural, durable materials. Blackbutt engineered timber flooring, exposed CLT ceilings, porcelain surfaces and warm timber joinery create a calming interior palette, while low-VOC finishes and responsibly sourced materials have been selected to improve indoor air quality.

Kitchens have been designed as the centrepiece of each apartment, featuring porcelain island benchtops, timber-look cabinetry and brushed steel tapware, with layouts that maximise natural light and ventilation.

[smartcode_project:default project_id=152022 project_image_fid=375530]

The more traditional interpretation of wellness comes in the form of Level Eleven, a two-storey wellness club spanning the ground floor, mezzanine and first floor.

The facility will include a gym, yoga and reformer Pilates studios, Finnish and infrared saunas, magnesium hot and cold plunge pools, and dedicated recovery spaces. Unlike many residential wellness facilities, Level Eleven will also operate commercially, allowing the broader Bowden community to access the venue while giving residents exclusive membership benefits.

The ground floor has also been designed around everyday living. A café overlooking Bowden Village Reserve will activate the street frontage, while a bike workshop with tool storage, co-working space and dog wash has been incorporated to support daily routines and encourage interaction between residents.

"Flowe brings together my two biggest passions, creating places and creating healthier lives," Otello founder Daniel Harris said.

"We wanted to create something Adelaide hasn't seen before, a genuinely healthy building, where the way you live is lifted without even trying."

Flowe is positioned directly opposite Bowden Village Reserve and within walking distance of Bowden Railway Station and the Adelaide Entertainment Centre, placing future residents just minutes from the Adelaide CBD while remaining connected to one of the city's most established urban renewal precincts.

[smartcode_project_cta:default project_id=152022]

Otello launches wellness-focused Flowe Bowden with Adelaide-first mass timber apartment design

Rural Market

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The drought in the Tamworth region continues to have a significant impact on the number of rural properties on the market.
It is also affecting the level of demand from prospective buyers, according to the latest Herron Todd White (HTW) rural report.
The report suggests the short to medium term seasonal outlook which is looking like the dry conditions may continue into winter is also concerning for buyers.
Since the start of 2018, there have been approximately 25 rural and rural lifestyle sales of property in excess of 200 hectares in the Tamworth region, which is down from approximately 48 rural and rural lifestyle properties sold in 2017/2018.
The predominant buyers are in the lifestyle category who have off-farm incomes, with some neighbor-to-neighbour sales also occurring.
With very low on-farm incomes over the past 18 to 24 months, and in some cases over 24 months, sellers are under increased pressure with evidence to suggest they’re needing to reduce asking prices to meet the market, the valuation firm notes.
At this stage, with a low turnover of sales transactions, it is harder to gauge how the drought is affecting rural values. There are a handful of properties purchased in 2016 and 2017 that have been re-listed for sale. When or if they sell will give a better idea of how the drought is affecting land value.
"From the sales that have occurred, it appears that the median hectare rate has steadied and remains firm," said HTW.
"We are yet to see a significant drop in rural land values."
A current $775,000 listing is a 64 acre Tamworth mix-farming property (pictured above). 
Located at<a href="https://www.realestate.com.au/property-mixed+farming-nsw-tamworth-700018078" target="_blank"> 64 Porcupine Lane</a>, it comes with three bedroom house, workshop, tac room, woodshed, and garden shed.
There is a disused piggery and seven paddocks plus five small holding paddocks.
A recently serviced bore with an electric pump provides water to a header tank that supplies eight troughs and there are three dams.
<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/2019/3/5/tamworth%202.jpg" alt="">
Oakview, a 455 hectare farm in Tamworth, has been recently sold (pictured above).
It was listed for sale with $1.415 million to $1.65 million hopes. 
Situated only 30 kilometres to Tamworth CBD, Oakview at <a href="https://www.realestate.com.au/sold/property-livestock-nsw-tamworth-700006390" target="_blank">701 Mulla Creek Road </a>comes with creek flats, arable slopes, and 3 kilometres of frontage. 
The weatherboard homestead features four bedrooms, separate informal and formal living areas, and covered deck with views.
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Tamworth sees a significant drop in rural land values: HTW rural 

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The NSW Central Tablelands market appears to be tracking as it did throughout most of 2018, where the number of properties being offered to the market appears to have eased and the volume of sales is less than 2017, according to the latest Herron Todd White (HTW) rural report. 
The report suggest whilst the supply of properties has eased, demand for rural holdings remains reasonably strong at present. This demand has been evident at recent auctions where there are still a good number of active bidders contesting.
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"This balance of supply and demand for rural property has buoyed value levels somewhat, despite the present poor seasonal conditions.
"The (fewer) rural holdings that have sold recently indicate that value levels remain strong and the general levels we saw the market climb to in 2017 and 2018 remain in place," says the HTW valuer. 
A 500 acre farm in Gulgong has been recently sold for $440,000 (pictured above).
Situated at <a href="https://www.realestate.com.au/sold/property-lifestyle-nsw-gulgong-7982670" target="_blank">1036 Dunrridgerie Road</a>, the property comprises of 100 acres suitable for cultivation and the rest for graing or lifestyle.
The accomodation comes with three bedrooms, power, phone and satellite TV.
Other features include equipped bore, 6 dams and sheds.
<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/2019/3/5/kanimbla%20.jpg" alt="">
Kanimbla Grange, a 25 acre property with views over the Kanimbla Valley is currently on the market with $750,000 hopes (pictured above).
Located at <a href="https://www.realestate.com.au/property-other-nsw-kanimbla-700022126" target="_blank">186 Kanimbla Drive, Kanimbla</a>, the cabin style home comes with wood heating and country kitchen.
Kanimbla Grange also features camping, fishing and picnicking spots and frontage to the Cox's River.
A notable Central Tablelands sale in 2018 was that of <a href="https://www.raywhite.com/nsw/blayney/1851346/?lang=en" target="_blank">Farrentoureen, Barry</a>, selling for $4.5 million in July 2018. Farrentoureen is a 407-hectare high rainfall grazing property located 16 kilometres south of Blayney.
This sale analyses to show a strong $9,525 per hectare (excluding buildings) for open arable grazing country. 
"We are aware of several following sales nearby to the south in the Woodstock achieving a price per hectare rate (excluding buildings) of between $7,500 and $8,250 for their typical open arable grazing country components," says the HTW report.
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The most active buyer group throughout 2018 in the Central Tablelands appears still to be local farmers seeking nearby and neighbouring land to expand their existing enterprises, along with out-of-district farmers relocating into the area.
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Another recent sale was Clearview, a 41 acre property at Mudgee for $1.26 million (pictured above).
Located at<a href="https://www.realestate.com.au/sold/property-lifestyle-nsw-mudgee-7988822" target="_blank"> 446 Rocky Waterhole Road</a>, it comes with elevated four-bedroom house, established orchard and quality infrastructure including three large machinery sheds.
The homestead features master bedroom with ensuite, two large living areas, chef style kitchen, and entertaining deck with views. 
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Farm values remain strong in Central Tablelands' rural market: HTW rural 

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Canadian agricultural company Nutrien has offered Ruralco a $469 million all-cash takeover proposal.
Nutrien has offered $4.40 a share for the company, representing a premium of roughly 44 per cent to Ruralco's Monday closing stock price of $3.06
If the deal goes ahead, it would reduce Australia's major farm sector service landscape from three to two players - Nutrien and Elders. 
Landmark, an Australian subsidiary of Nutrien, is a rural services and supplies company with over 200 branches across Australia.
Ruralco, which includes about 500 agricultural selling agency, merchandise and water industry businesses Australia-wide, has entered into scheme implementation arrangement with the North American fertiliser and crop chemical supply business.
Ruralco's board has unanimously recommended the transaction in the absence of a superior proposal, the company said in a statement.
The deal is still however subject to approval from the Australian Competition and Consumer Commission (ACCC) and the Foreign Investment Review Board (FIRB).
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Canada's Nutrien pursuing $470 million Ruralco takeover

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Mackay Sugar’s final tonnage for the 2018 crushing amounted to 4.67 million tonnes compared to 4.97 million tonnes in 2017, according to the latest Herron Todd White (HTW) rural report. 
The report suggests the Percentage of Recoverable Sugar (PRS) was 14.3 compared to 13.37 in 2017.
Dry conditions, through the growing season adversely impacted yield but assisted sugar content.
The price of sugar is low at US$0.29 compared to the most recent peak of US$0.49 in October 2016.
"As had been the case in recent years due to mill break downs, there is no stand over cane," said the HTW report. 
"Growers are now more confident in milling operations and are looking forward to a better crop in 2019.
"In addition to this, Mackay Sugar has received a non binding indicative proposal for recapitalisation from German-based sugar manufacturer Norzducker AG which could result in capital improvements to mills."
Cane farm sales continue at a steady pace, the HTW update noted.
Recent sales activity around the Kuttabul area north of Mackay has occurred due to well established local growers acquiring additional areas. Values remain stable.
<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/2019/1/14/blue%20ribbon%201.jpg" alt="">
<a href="https://www.realestate.com.au/sold/property-cropping-qld-chelona-7972306" target="_blank">Blue Ribbon</a>, a 487 acre cane farm at Cehlona recently sold for $2.65 million (pictured above).
Located eight mintues to Mackay being South of Mackay, the home comes with three bedrooms plus office, rumpus room, open plan living and kitchen.
Other features of the property include grey water dam, fertile sandy loam soils, and three bay shed.
<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/2019/1/14/septimus.jpg" alt="">
Another 345 acre <a href="https://www.realestate.com.au/sold/property-cropping-qld-septimus-7966990" target="_blank">dress circle cane farm in Septimus</a> was sold for $1.7 million in October 2018 (pictured above).
Situated 12 minutes to Mirani, it comes with three separate farms for avocados, macadamias and R2E2 mangoes.
Other features include two three bedroom homes, old lowset cottage, and three bay steel shed. 
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Mackay cane farm sales continue at a steady pace: HTW rural

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Corporate activity in the Tasmania rural scene is heating up as many pension funds, high net worth investors and corporate buyers continue to seek out affordable rural assets with reasonable return parameters, according to the valuation firm, Herron Todd White (HTW).
It noted recent activity can be evidenced by Laguna Bays recent purchase of a number of dairies in the north-west of the state.
It also paid attention to Farmright/PSP’s purchase of Sustainable Agri Funds Cradle Coast dairy asset for a reported $25 million and TRT Pastoral’s purchase of SAF’s King Island Aggregation for $45 million.
"The grazing and dairy space are not the only sectors of corporate interest in Tasmania at present with berries and permanent plantings such as cherries and vineyards also seeing growing enquiry and due diligence as a result of Tasmania’s ever-improving irrigation schemes and security of water, in addition to a lower more attractive price point relative to the mainland, ultimately improving investor returns," the report said.
"Current corporate listings of note in Tasmania include the 21,861-hectare Rushy Lagoon dairy/grazing enterprise with a price tag of circa $70 million and the 8,580 hectare RMS forestry portfolio which both provide great opportunities for corporate level investment in an improving market," Anusg Shaw from the valuation firm noted.
"On a more local front, our recent attendance at AGfest, Tasmania’s largest rural field day, further confirmed the buoyant local attitude in the Tasmanian rural economy which has been backed up by evidence of strong value improvement in many recent smaller local transactions, especially in the irrigation sector."
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Tasmania rural assets becoming a top target: HTW

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The seasonal outlook is dry for Inner Darling Downs farmers, according to the June report from valuation firm Herron Todd White (HTW).
The chance of receiving median rainfall for much of South-East and Southern Queensland is between 25% to 35%, hence there are likely dry conditions ahead, it noted the winter season ahead as per the Bureau of Meteorology which has recently revised their rainfall forecasts.
"Many grazing operators in the Condamine and Moonie areas have banked on receiving some rain given planting on minimal moisture," Stephen Cameron a valuer at Herron Todd White noted.
"With the dry conditions we are seeing the migration of kangaroos also impacting on early fodder crops."
Those operators that have undertaken significant expenses in constructing exclusion fencing or forming part of a cluster group will now be able see the benefits, subject to controlling the kangaroo population within the boundary confines.
The report suggests that, "with a large number of graziers undertaking such development it has been timely for merino graziers, with the Eastern Market Indicator closed at 2,011 ac/clean kg at the end of May".
"This is up 38% from the previous year which will provide a significant boost to wool producers."
The report noted a common question in the market is "how much does a property with exclusion/ cluster fencing add value?"
"It’s a difficult question to definitively answer as there have been only a small handful of sales that have sold with similar fencing.
"It’s further difficult to analyse such sales in a rising market given it is unknown whether the premiums reflect the added value of the fence or broad strengthen in land values.
"Ultimately when property values stabilise we will be able to more accurately analyse the evidence to address this question."
However the HTW report concluded the simple fundamentals to determine the added value over a conventional fence will be reflective by the improved productivity of a property either through increased weaning rates by reduced wild dog attacks and or reduced grazing pressure by kangaroos or damage to crops by wild pigs.
Cameron forecasts that on the market front there will be continued demand for either good quality country or landholder purchasing neighbouring country to secure further scale.
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Seasonal outlook is dry for Inner Darling Downs farmers: HTW

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GUEST OBSERVATION
Even though Australia has enjoyed 25 years of economic growth, many regional communities have either struggled to recover or never recovered from factory closures, declining commodity prices, or a drop in tourists.
My research, with colleagues from Europe and North America, shows Australian development agencies are reluctant, or do not know how, to reach out and work with other government bodies. They are also less inclined than those in Italy, Germany and Finland to build bridges between government departments or tiers of government. Instead, their solutions are constrained by their own resources.
And unlike in the United States, Australia does not have a well-funded economic development agency able to mobilise significant resources in a practised manner. In the United States, local developers often command multi-million-dollar budgets that come from dedicated sales and other taxes, giving them the capacity to bring about change.
Australia’s local development agencies are starved of funding and too often can offer only limited responses to very complex challenges.
The Productivity Commission says leadership is key to forging a new economic future for these regional communities. But my research shows local leadership, including from business executives, state government and other government agencies, is relatively weak compared with the other countries.
The local leadership gap means Australian regional communities are less able to develop coherent strategies to deal with events like a major plant closure. Even good news, such as the arrival of a new firm, is not guaranteed an appropriate reaction.
Part of the challenge lies in the absence of clearly identifiable leaders with the authority to act. Compared with other countries in my study, it is harder to find who in Australia takes ownership of responding to regional economic shocks.
In Australia, mayors often play a role, but have few powers to bring about change. State policitians can be reluctant to associate with adverse news. Few politicians, for example, saw photo opportunities in the closure of Australian car makers.
In Italy, on the other hand, mayors are pivotal in responding to crises like the closure of a car factory. Our research found Italian mayors reach out to the civil sector in times of crisis – the church, non-governmental organisations, unions and even the media. This is done to influence public opinion, build confidence and mobilise private, public and community resources to ensure the well-being of the community.
Transition towns
The American city of Pittsburgh has transformed from a rapidly declining steel town in the 1970s to a prosperous city with an economy built on medical research and services.
Tampere in Finland shifted from being a 19th-century manufacturing base to producing software for Nokia in the 1990s. After 2010 it shifted again to information technology as Nokia itself transformed. The city has also become a hotbed of tech startups.
There are a few reasons these two communities successfully rejuvenated themselves while many Australian communities have spiralled downwards.
In the United States, local development practitioners are important local leaders because they mobilise the support of political leaders at the state and local level. They also provide the intellectual and financial capital needed to shape a new future.
In Finland, local leadership comes from a network of professionals working across departmental lines. In Tampere, for example, they helped to deploy the technical skills of workers. In other places they have moved workers into new technologies and promising new businesses.
Within a few years Chinchilla in Queensland cycled between a gas exploration and development boom, which pushed up prices, to an equally sharp bust as construction crews moved away, leaving excess housing.
Communities in northern Adelaide have been confronted by the need to map out a new future as the car industry closes. What that looks like and how many workers will be able to transition into the defence sector remains very uncertain.
These are not problems limited to a few isolated economies. The southeastern states struggled economically when the nation was in the grip of a mining boom. Communities in Western Australia joined them as real estate prices and labour force growth lagged in the absence of new mine development.
There are significant leadership deficits within Australia’s regions, towns and communities. These contribute to our failure to promote the vibrancy and resilience of all parts of the nation.
The decision-makers in Australia – largely state and federal politicians – as well as the resources they command, are just too far away from regional centres. Their absence creates a significant gap at the local level.
But all this doesn’t mean that better solutions can’t be found for Australian communities experiencing economic change.
<img src="https://counter.theconversation.com/content/95066/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">We can give more responsibility to local governments. We can empower communities through the sharing of information and knowledge. And we should give them the resources needed to bring about the changes they see as the bedrock of their future.
Andrew Beer, Dean, Research and Innovation, University of South Australia
This article was originally published on <a href="http://theconversation.com">The Conversation</a>. Read the <a href="https://theconversation.com/australian-governments-dont-work-with-each-other-and-its-holding-back-regional-economies-in-trouble-95066">original article</a>.
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Australian governments don't work with each other and it's holding back regional economies in trouble: Andrew Beer

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The Southern Queensland market continues to exhibit strong market signals broadly across the region, according to the valuation firm, Herron Todd White (HTW).
The demand has been "exceptionally strong" for assets that demonstrate quality country, scale and position, it suggests.
The golden triangle between Roma, Taroom and Wandoan has continued to show strong demand from broader market interests but particularly local graziers seeking additional country.
The locality was one of the first to show the firming in market trends post the 2008 downturn, demonstrated by the likes of Windrush which sold to a neighbour in mid-2015 reflecting $2,655 per hectare.
In the past month HTW have seen the two strong auction results being:
<ul>
<li>Two Up, a 1,054.65 hectare mostly Brigalow scrub holding with five kilometres of frontage to the Dawson River. The property contracted under the hammer to a local grazier for reportedly $3,935 per hectare ($1,592 per acre);</li>
<li>
<a href="https://www.realestate.com.au/property-livestock-qld-wandoan-7944594" target="_blank">Myola,</a> a 1,409.24 hectare holding to the south of Wandoan within the Gulugaba district, being a dominant Brigalow, Belah with softwood scrub influence, was contracted under the hammer for reportedly $3,760 per hectare ($1,522 per acre).</li>
</ul>
Myola (pictured below) is selectively cleared and established to improved Buffel pastures, and watered by share bore supplying eight poly tanks through 63 milimetre blue line pipe and servicing numerous troughs and yards.
It has been subdivided into seven main grazing paddocks.
<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/2018/4/6/myola%201.jpg" alt="">
Both blocks were considered to appeal to a wide market segment of landholders wanting to move into better quality finishing country. Alternatively, the holdings were of a scale that could be absorbed into an existing local grazing operation.
"The rain prior to the auctions has no doubt improved their saleability given the significant dry periods prior.
"The rain over the past month has the potential of creating sub area markets have given we are now leading into cooler and traditionally drier periods.
"This is because the rain was not as widespread as some may think. With most seasonal events there are winners and there are those who miss out.
"Unfortunately, the south-western area of the state has not shared in the same volume of rain, especially in comparison to their northern neighbours. Rain has been particularly patchy in the districts generally west and south of Charleville."
HTW noted for those thinking there was going to be a rush of listing for country in the west, they don’t expect to see any significant run of country hitting the market.
"We are aware there have been some potential vendors waiting for an improvement in seasonal conditions that may now take the opportunity to list.
"An interesting trend for 2017 actually saw a 350% increase in the sales rate within the Paroo Shire, albeit from a low base."
In the area, HTW have seen a number of larger corporate companies exiting the market and these properties primarily acquired by local and interstate grazing operators.
"In this market, we have also observed a number of speculative special interest purchasers who have acquired country at a premium with the sole intention of establishing a carbon project.
"Within the Paroo Shire alone there have been some 1.055 million Australia Carbon Credit Units (ACCUs) issued by the Australian Government Clean Energy Regulator through 39 projects.
"The projects in the Shire are all registered under the permanent native forests through assisted regeneration from in-situ seed land use modelling.
"The methodology effectively promotes the revegetation of the lands by reducing stocking pressure.
"In most cases, the existing grazier has opted to encumber part of their property (circa 10% to 30%) to access cash flow through the sale of ACCUs over normally a contracted term of 10 years.
"On the other hand, we have seen cases where the country has been purchased by specialist interest purchasers who want to fully realise the cash flow benefits by registering a project over a larger area and some encumbering the whole property."
The report noted whilst the contracted sequestration of carbon is achieved, there is the significant financial benefit.
"However, by registering such agreements, there is a legal liability incurred plus ongoing management of the carbon project over its permanency period which can be either 25 or 100 years.
"The question that should be considered when either entering into these agreements or buying a property with a project is what impact the project has on the asset.
"There is likely to be a reduction in the productivity but there may also be liability risks incurred as well as the cost to manage the carbon area or project over the permanency period.
"How the market treats encumbrances created by a carbon project on a grazing business is currently uncertain and won’t be fully qualified until the contract period expires.
"When this occurs there will be less focus on the short-term financial benefits and a greater consideration of the ongoing impacts and costs to the business operation without a financial return. In this modern age, there is no such thing as free money."
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Speculative buyers snapping up Paroo Shire land for carbon projects: HTW

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<h1><a class="source" href="https://commons.wikimedia.org/wiki/File%3AAerial_view_of_the_Darling_River.jpg" target="_blank">Given the </a><a href="https://www.propertyobserver.com.au/http://www.abc.net.au/news/2018-02-15/murray-darling-basin-plan-changes-blocked/9448280" target="_blank">outraged reaction from some state water ministers</a><a class="source" href="https://commons.wikimedia.org/wiki/File%3AAerial_view_of_the_Darling_River.jpg" target="_blank"> to the disallowance of an </a><a href="https://www.mdba.gov.au/basin-plan-roll-out/basin-plan-amendments/basin-plan-amendments-northern-basin" target="_blank">amendment</a><a class="source" href="https://commons.wikimedia.org/wiki/File%3AAerial_view_of_the_Darling_River.jpg" target="_blank"> to the </a><a href="https://www.mdba.gov.au/basin-plan" target="_blank">Murray Darling Basin Plan</a><a class="source" href="https://commons.wikimedia.org/wiki/File%3AAerial_view_of_the_Darling_River.jpg" target="_blank">, you would be forgiven for thinking that a heinous crime had been committed against farmers in upstream states.</a></h1>
In fact, what happened was that the Senate voted for the Basin Plan to continue unchanged, rather than allow a modest increase in the water available to farms in the Murray Darling’s Northern Basin.
NSW water minister Niall Blair reacted by declaring that his state “will now start the process of withdrawing ourselves from the plan”, while his Victorian counterpart Lisa Neville <a href="https://www.sbs.com.au/news/vic-declares-murray-darling-plan-over" target="_blank">angrily declared</a> that “the plan is over” (despite Victoria not even being in the Northern Basin).
The political friction is generating a lot of heat, but precious little light. The debate could use a few more facts, so here they are.
First of all, the amount of water involved in the amendment represents less than 1% of the average annual surface water extractions allowed by the Basin Plan. This is roughly equivalent to a single day’s irrigation use throughout the basin during the growing season.
In other words, irrigators already use huge amounts of water, and ensuring that environmental water recovery on the Darling River is not reduced by 70 billion litres will make very little difference to irrigators.
Second, the delivery of the environmental water target of 390 billion litres in the Northern Basin, rather than 320 billion litres as proposed in the amendment, will be undertaken with full compensation. In other words, no individual irrigator will be made worse off by allowing the original target to be delivered. No one is “taking water” from anyone.
Third, let’s just reiterate that no one has changed the Basin Plan, so the “loss” of 70 billion litres simply represents 70 billion litres less in diversions that farmers were hoping to receive in future, but now won’t.
Meanwhile, there is <a href="https://www.mdba.gov.au/basin-plan-roll-out/proposed-adjustment-sustainable-diversion-limits" target="_blank">another amendment under consideration</a>, to be decided by May 7, that will potentially allow farmers across the Basin to divert an extra 605 billion litres from the river. These amendments are political compromises and not part of the scientific and economic assessments that led to the Basin Plan.
Fourth, the <a href="https://www.mdba.gov.au/sites/default/files/pubs/S%26E-economic-modelling-report-KPMG.pdf" target="_blank">claims</a> by the Murray-Darling Basin Authority that the reduction in the environmental water recovery will save 200 jobs does not bear scrutiny. Jobs in agriculture have everything to do the weather, with commodity prices and the value of the Australian dollar, and very little to do with environmental water recovery. We should not spend hundreds of thousands of dollars on a consultant to get an “answer” that does not pass proper peer review in academic journals if we want good public policy outcomes.
Fifth, and finally, it’s time for some maths. The Basin Plan that was passed in 2012 had, on average, a surface water diversion limit (that is, the total amount that farmers and other water users were allowed to take) of 10,873 billion litres per year. Before surface water diversions were controlled in the mid-1990s, the average annual surface water diversions in the Basin were 10,684 billion litres per year. Between 2000-01 and 2014-15, the average was 7,956 billion litres per year.
In other words, the water limits allowed by the existing Basin Plan represent an increase, rather than a reduction, on what water users have been taking, on average, for the past 30 years. For this reason alone, we should be very careful about letting them have even more.
Politicians and vested interests are playing fast and loose with the facts. Let’s be clear, the Basin Plan will not keel over because of this disallowed amendment. But it will die if the irrigators who have already received billions of dollars of taxpayers’ money, and who have billions allocated for them in the forward estimates, stop the Basin Plan from delivering on its original intentions.
It’s time our federal government stood up and defended the national interest and faithfully delivered on the original intent of the Basin Plan, and actually increase stream flows in the Basin by 2,750 billion litres per year.
<img src="https://counter.theconversation.com/content/91913/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">As <a href="https://theconversation.com/the-murray-darling-basin-plan-is-not-delivering-theres-no-more-time-to-waste-91076" target="_blank">we and our colleagues argued earlier this month</a>, that means establishing a truly independent scientific and expert body to evaluate the Basin’s health and what has been delivered in terms of increased net stream flows with the Basin Plan. It also means an end to further infrastructure subsidies and efficiency projects until the full facts are publicly known and scrutinised about what public benefits they provide.
<a href="https://theconversation.com/profiles/quentin-grafton-1941" target="_blank">Quentin Grafton</a>, Director of the Centre for Water Economics, Environment and Policy, <a href="http://theconversation.com/institutions/crawford-school-of-public-policy-australian-national-university-3292" target="_blank">Crawford School of Public Policy, Australian National University</a> and <a href="https://theconversation.com/profiles/john-williams-142565">John Williams</a>, Adjunct Professor Environment and Natural Resources, Crawford School of Public Policy, <a href="http://theconversation.com/institutions/australian-national-university-877" target="_blank">Australian National University</a>
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/states-dummy-spit-over-the-murray-darling-basin-plan-clouds-the-real-facts-91913" target="_blank">original article</a>.
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States' dummy-spit over Murray-darling Basin Plan

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Hassad Australia has announced the sale of 18,000 hectare in three large aggregations — Raby Station in NSW, and Glendale and Ungarra aggregations in South Australia.
Fifteen family operators will be acquiring individual parcels of land from all three aggregations.
Landmark Harcourts agent Phil Rourke, <a href="https://hassad.com.au/raby-stud-nsw/" target="_blank">who sold historic Raby at Warren</a>, confirmed it sold to a consortium of local buyers, who would integrate parts of the 9,782 hectare property into their existing operations.
Hassad Australia also sold a dry land cropping aggregation spanning more than 3,000 hectares in South Australia’s mid-north for $16.2 million. 
Located 29 kilometres north-east of Clare, the Glendale Aggregation is suited to growing wheat, barley, canola, lentils and legumes, as well as grazing livestock. 
CBRE Agribusiness’ Danny Thomas and Phil Schell negotiated the sale of Glendale Aggregation, comprising 12 semi-contiguous landholdings totalling 3,263 hectares. 
The sale was one of three properties divested by Hassad Australia – the others being Raby in New South Wales and the Ungarra Aggregation in South Australia.
The sales also follow the earlier transaction of properties in Victoria and Queensland.
The divestments are in preparation for the next phase of the company’s investment strategy that will see further investment in lamb and grain marketing. 
The Glendale Aggregation sold to a number of local adjoining and nearby farmers in South Australia’s mid-north farming region.
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