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A developer has been approved for its first office project for a tower with two more storeys than preferred by the City of Boroondara council. <a data-mce-href="https://www.theurbandeveloper.com/articles/samuel-property-cato-street-office-development-melbourne" href="https://www.theurbandeveloper.com/articles/samuel-property-cato-street-office-development-melbourne" target="_blank" rel="noopener">Samuel Property filed plans for a six-storey office project</a>, its first foray into that sector, in Hawthorn East in August.The preferred height limit in the planning overlay for the area is four storeys but the council was satisfied with the design options put forward by Samuel Property. “They were comfortable to support us for additional height in light of the environmental initiatives we were proposing,” Samuel Property director Illan Samuel said.&nbsp;“So we worked with them [and] we didn’t go to VCAT.“It was a bit of a slower process but the outcome is better than going to VCAT and fighting against each other.” The 1278sq m site at Cato Street sits in the Tooronga Commercial Precinct. Plans designed by Cera Stribley Architects for the project comprise a six-storey office tower with several terraces including one on the rooftopIt will also have two basement levels for 60 carparking spaces and end-of-trip facilities. The ground floor will use landscaping and design to engage with pedestrians.“We wanted to have a high-quality offering for those suburban locations,” Samuel said. “We are giving people a reason to come into the office and having offices close to where a lot of people live so that you can incentivise staff to actually come to the office. “It allows us to give an offering at a lower price point than in Cremorne, Abbotsford, and certainly the Melbourne CBD or South Yarra.“So businesses that need to be in those locations and still want a new office building should be able to take advantage of the fact that our cost base on the land is lower.” <div id="JMyvPlrNQMHMOURiS33QB"><picture><img src="//images.ctfassets.net/8pr762qjocl3/2XvF1T6VhukyfX8ONtTJz4/0882941d15d759039349b71c30de3c9e/1.jpg" alt="An artist’s impression of Samuel Group’s Louise project." data-mce-src="//images.ctfassets.net/8pr762qjocl3/2XvF1T6VhukyfX8ONtTJz4/0882941d15d759039349b71c30de3c9e/1.jpg"></picture><div>▲ A render of Louise, one of the high-end residential projects by Samuel Property. </div></div>The site is bordered by Toorak, Tooronga and Auburn roads, with a two-storey office building currently on the site. Samuel Property bought the site for $4.2 million in an off-market deal in mid-2021. Stonebridge Property sold the site to Samuel Property at a 4.5 per cent yield.&nbsp;Prior to the sale in 2021, CoreLogic’s property records list a single deed transfer in January 2006.&nbsp;Once completed the project will have an end value of $60 million and 5000sq m of flexible A-grade office space.

 In what is their first foray into the office market, Samuel Property has won approval for a six-storey project from the council, two storeys over a preferred height limit…


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While one home builder managed to avoid liquidation earlier this week, two other companies have not been so lucky. Weeks after it announced it was <a data-mce-href="https://www.theurbandeveloper.com/articles/mahercorp-calls-in-administrators-amid-cashflow-crisis" href="https://www.theurbandeveloper.com/articles/mahercorp-calls-in-administrators-amid-cashflow-crisis" target="_blank">going into voluntary administration</a>, Mahercorp’s customers and creditors have voted to keep the business going. About 90 per cent of Mahercorp’s customers voted to pay an extra 6.5 per cent to fund it.Construction is scheduled to resume for these customers from June 12. Mahercorp owns the brands Urbanedge Homes, Eight Homes, and House and Land World.&nbsp;The Urban Developer first learnt of liquidation concerns for Mahercorp in April when it attempted to contact the company for confirmation. Mahercorp declined to comment at the time but <a data-mce-href="https://www.theurbandeveloper.com/articles/mahercorp-calls-in-administrators-amid-cashflow-crisis" href="https://www.theurbandeveloper.com/articles/mahercorp-calls-in-administrators-amid-cashflow-crisis" target="_blank" rel="noopener">then announced that Cor Cordis would take over as administrators in late April</a>.&nbsp;&nbsp;It left more than 700 homeowners unsure of what would happen with their builds while options for restructuring were assessed. Company chief executive Steve Maher said <a data-mce-href="https://www.theurbandeveloper.com/articles/build-costs-easing-but-pain-will-continue" href="https://www.theurbandeveloper.com/articles/build-costs-easing-but-pain-will-continue" target="_blank" rel="noopener">rising construction labour and material costs had been the main cause</a>. During the voluntary administration period, company operations were suspended.&nbsp;While the Victorian government acted to provide a $15-million fund for homeowners after <a data-mce-href="https://www.theurbandeveloper.com/articles/porter-davis-liquidation-clough-grant-thornton" href="https://www.theurbandeveloper.com/articles/porter-davis-liquidation-clough-grant-thornton" target="_blank" rel="noopener">the Porter Davis collapse</a>, it is not likely to assist other homeowners.<div id="2lmh7jtyzbmCFj5xNSpuOs"><picture><img src="//images.ctfassets.net/8pr762qjocl3/5QrrBXoc23ryedQ9TrshK7/8a81d0e5302f97534a56c4f914aa6a6d/porter_lloyd_collapse_hero.jpg" alt="The Porter Davis collapse triggered a Victorian government rescue fund of $15 million for more than 500 affected families." data-mce-src="//images.ctfassets.net/8pr762qjocl3/5QrrBXoc23ryedQ9TrshK7/8a81d0e5302f97534a56c4f914aa6a6d/porter_lloyd_collapse_hero.jpg"></picture><div>▲ The Porter Davis collapse triggered a Victorian government rescue fund of $15 million for more than 500 affected families. </div></div>Meanwhile another Victorian home builder, Rawdon Hill,&nbsp; has appointed Dye and Co as administrators soon after it advertised that it would be able to complete some of the incomplete Porter Davis builds for customers.And in Western Australia, the Slatter Group has appointed liquidators to wind up the company after attendees at its general meeting voted for voluntary liquidation. The company had operated for two decades, working on residential projects and government contracts for educational buildings. Ernst and Young representatives Samuel John Freeman and Clare Anne Baily will act as joint liquidators with the Slatter Group ceasing all trading. Slatter Group had 15 projects that will now be left in hiatus until the liquidators can assess and contact creditors and customers. WA Housing Group and Individual Developments went under in January followed by Hamlen Homes going into administration in February. The Urban Developer contacted the administrators for Rawdon Hill and Slatter Group for comment.

A few weeks after it went into voluntary administration, Mahercorp may be able to continue trading though two other companies have now collapsed…


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The John Curtin Hotel and other significant buildings in Carlton are one step closer to stronger heritage protection after the City of Melbourne council adopted the Carlton Heritage Review. At its meeting on Tuesday night, the council voted unanimously to endorse the independent planning panel’s recommendations and adopt <a data-mce-href="https://www.theurbandeveloper.com/articles/john-curtin-hotel-heritage-precinct-carlton-heritage-review-fmc" href="https://www.theurbandeveloper.com/articles/john-curtin-hotel-heritage-precinct-carlton-heritage-review-fmc" target="_blank" rel="noopener">the Carlton Heritage Review and Punt Road Oval Heritage Review</a>, which now form Amendment C405 to the Melbourne Planning Scheme. It will now go to Victorian planning minister Sonya Kilkenny, who will make the final determination.“We have now done the Hoddle Grid heritage review, the North Melbourne heritage review, the South Yarra heritage review and Parkfield heritage review in recent meetings,”&nbsp;City of Melbourne lord mayor Sally Capp said.“This was part of a commitment to our community to ensure that we had an active agenda of addressing these issues across our municipality.”While 24 new properties will be added to the heritage overlay as part of this review, four will be removed as well as 41 category changes made and three small precincts created. One of those will be the Former Carlton Union Hotels Precinct at 1 to 31 Lygon Street, which will include the John Curtin Hotel at 27 Lygon Street; the former Dover Hotel at 1-7 Lygon Street; two shops at 9 and 13-15 Lygon Street; the former BLF office at 11 Lygon Street; and the former Australian Council of Trade Unions offices at 17-25 Lygon Street. In 2022, the John Curtin Hotel was sold to a private developer with <a data-mce-href="https://www.theurbandeveloper.com/articles/john-curtin-hotel-green-ban-construction-workers" href="https://www.theurbandeveloper.com/articles/john-curtin-hotel-green-ban-construction-workers" target="_blank" rel="noopener">union members and others in the community </a>concerned that the site would not be sufficiently protected from development.<a data-mce-href="https://www.theurbandeveloper.com/articles/john-curtin-hotel-green-ban-construction-workers" href="https://www.theurbandeveloper.com/articles/john-curtin-hotel-green-ban-construction-workers" target="_blank" rel="noopener">A green ban</a>, prohibiting construction workers from working on any development on the property, was proposed in May 2022.Green bans have been used in the past to save several of Melbourne’s heritage buildings from demolition or development before they could be listed and protected.The John Curtin Hotel has long been a gathering spot for trade union activists, politicians and musicians, and was one of the first places where First Nations musicians were allowed to perform. It is also being assessed as part of a separate process to determine if it can be considered to have state significance.<div id="5WotKlQ5gnuHfvLj98r27R"><picture><img src="//images.ctfassets.net/8pr762qjocl3/11OeTiDqQlXgRU7lvxcmeF/03820f6448a038f6255276f7d205dd28/john_curtin_hotel_story_mid_article_image.jpg" alt="Former Victorian premier Steve Bracks, former opposition leader Bill Shorten and current Victorian premier sharing drinks to celebrate former PM Bob Hawke. Source: The John Curtin Hotel" data-mce-src="//images.ctfassets.net/8pr762qjocl3/11OeTiDqQlXgRU7lvxcmeF/03820f6448a038f6255276f7d205dd28/john_curtin_hotel_story_mid_article_image.jpg"></picture><div>▲ Former Victorian premier Steve Bracks, former opposition leader Bill Shorten and current Victorian premier Daniel Andrews celebrate former PM Bob Hawke at the John Curtin Hotel. Source: The John Curtin Hotel </div></div>The recommendations from the independent planning panel said it could not be given social significance at the local government level.Lovell Chen’s Carlton Heritage Review November 2021 (updated February 2023) and GML Heritage’s Punt Road Oval Heritage Review 2021 (updated February 2023) reports were part of the independent planning panel’s consideration.&nbsp; Victorian Treasurer Tim Pallas announced as part of the recent state Budget, an allocation of $2 million to, in part, help implement a planning overlay change that would better protect local live music venues.&nbsp;The City of Melbourne is undertaking heritage reviews to address a gap in local government level protections for interwar, post-war and post-modern period buildings which have been previously left off the heritage register and therefore had no protection. Most recently, The Tote hotel, at 67-71 Johnston Street in Collingwood was facing closure after previous owners Jon Perring and Sam Crupi decided to sell up after trying twice to save it.<div id="5RDtAJ48TlcfdUtjsqIylq"><picture><img src="//images.ctfassets.net/8pr762qjocl3/6K4nYzrVGlig5lDIaPAct9/257e5cd0c6a3bab5b61e7aa61752589a/the_tote_hotel_.jpg" alt="Community members and music lovers have raised $3 million in a crowdfunding campaign organised by Shane Hilton and Leanne Chance to buy The Tote Hotel in Collingwood. " data-mce-src="//images.ctfassets.net/8pr762qjocl3/6K4nYzrVGlig5lDIaPAct9/257e5cd0c6a3bab5b61e7aa61752589a/the_tote_hotel_.jpg"></picture><div>▲ Community members and music lovers raised $3 million in a crowd-funding campaign organised by Shane Hilton and Leanne Chance to buy The Tote Hotel in Collingwood. </div></div>But a crowd-funded campaign called “Save the Tote” raised $3 million to help Shane Hilton and Leanne Chance buy The Tote and keep it operating as a live music venue. Hilton and Change also operate the Last Chance Rock and Roll Bar near the Queen Victoria Markets.&nbsp;The Carlton heritage review now goes to the Victorian planning minister for final approval.&nbsp;

The John Curtin Hotel gets more protection as it is rolled into a hotels precinct in City of Melbourne council’s adopted Carlton Heritage Review…


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A residential project proposed by Mirvac for Melbourne’s Brunswick has been granted planning approval by the Victorian planning minister.Sonya Kilkenny has now approved the $280-million all-electric residential project at 699-703 Park Street, 4km north of the CBD.The 6500sq m site is an amalgamation of nine lots with several existing buildings, including a former hotel, the Princes Park Motor Inn, and a heritage-listed electrical substation.It also incorporates the addresses for 2-4 Sydney Road and 182-193 Brunswick Road.Plans include four-, six-, eight- and ten-storey buildings plus two levels of basement car parking.There will be 166 premium apartments and penthouses with a mix of one to four-bedroom apartments, 223 car parking spaces and 210 bicycle storage spaces.&nbsp;Two commercial spaces and a cafe are also part of the plans.The site has 100m of frontage n to Princes Park and is next to Princes Hill in the Princes Park Precinct.The University of Melbourne and the Royal Melbourne Hospital Precinct are nearby.<div id="3IM7SpQtN5uOll0RkLBjBd"><picture><img src="//images.ctfassets.net/8pr762qjocl3/5ui7visSm5d7zKzrk9XZ12/cd2eb3f026ed55a51ab9a00a225fc311/669-park-st-renders.jpg" alt="Bates Smart's render of part of Mirvac's 699 Park Street residential project in Melbourne's Brunswick." data-mce-src="//images.ctfassets.net/8pr762qjocl3/5ui7visSm5d7zKzrk9XZ12/cd2eb3f026ed55a51ab9a00a225fc311/669-park-st-renders.jpg"></picture><div>▲ A render of the Bates Smart-designed developer 699 Park Street in Brunswick. </div></div>Mirvac’s plans, designed by Bates Smart Architects, were considered by the state’s Development Facilitation Program which was created to fast-track projects that were shovel-ready, would employ Victorians and could prove that they would generate public benefit.The developer argued that since 10 per cent of the 166 planned apartments would be set aside for affordable housing, the proposed plans met the criteria for the program.It did, however, mean that while the City of Merri-bek Council could submit their recommendations as part of the process, the plans bypassed the council and the Victorian Civil and Administrative Tribunal.&nbsp;The council opposed the proposed demolition of the heritage-listed electrical substation on the site, recommending that alternate plans be proposed that retained the building instead.<div id="50FUaO3IYX74QOQfSZ0Tgn"><picture><img src="//images.ctfassets.net/8pr762qjocl3/2zdfBwqtWqpbII2djw1PDs/c2a19e656da980761fa0df3c3c81afc3/699-Park-Street-Brunswick-Mirvac2.jpeg" alt="JW Land tried to get approval twice for a residential tower on the site before selling it to Mirvac for a reported $40 million in mid-2021." data-mce-src="//images.ctfassets.net/8pr762qjocl3/2zdfBwqtWqpbII2djw1PDs/c2a19e656da980761fa0df3c3c81afc3/699-Park-Street-Brunswick-Mirvac2.jpeg"></picture><div>▲ JW Land tried twice to win approval for a residential tower on the site before selling it to Mirvac for a reported $40 million in mid-2021. </div></div>JWLand who bought the site in 2017 for $30 million had previously tried to get two proposals for development approved: one in 2017 for a 14-storey tower with 333 apartments and one in 2018 for a 10-storey tower with 255 apartments.Both were knocked back by council and VCAT with a group of 1700 residents under the banner Protect the Park Street Precinct opposing the development on the grounds of potential overshadowing and concern around the project’s compliance with guidelines for designing apartments.&nbsp;<a data-mce-href="https://www.theurbandeveloper.com/articles/mirvac-picks-up-rejected-brunswick-site" href="https://www.theurbandeveloper.com/articles/mirvac-picks-up-rejected-brunswick-site" target="_blank" rel="noopener">JWLand eventually sold the site to Mirvac in mid-2021</a> for a reported $40 million.Mirvac’s future projects include a 15-storey residential project at 31 Queens Lane in Albert Park while it completed its build-to-rent project LIV Munro <a data-mce-href="https://www.theurbandeveloper.com/articles/queen-victoria-market-precinct-update-liv-munro-mirvac" href="https://www.theurbandeveloper.com/articles/queen-victoria-market-precinct-update-liv-munro-mirvac" target="_blank" rel="noopener">near the Queen Victoria Markets</a>, late last year. Its Victorian residential development pipeline is worth $6.8 billion with more than $1 billion in its <a data-mce-href="https://www.theurbandeveloper.com/articles/build-to-rent-australia-2023" href="https://www.theurbandeveloper.com/articles/build-to-rent-australia-2023" target="_blank" rel="noopener">build-to-rent pipeline </a>that is currently under construction. The developer has also invested $3.7 billion in its Victorian portfolio across all sectors.

Despite pushback from residents, Mirvac has won approval for its Park Street residential project in Brunswick...


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Daniel Besen’s Besen Group and Besen Family Office have joined forces with Neometro for an apartment project in St Kilda East. Neometro has filed the plans with the City of Port Phillip Council for the project on a 5003sq m site at 97 Alma Road.<a data-mce-href="https://www.theurbandeveloper.com/articles/aia-gold-medal-kerstin-thompson-architecture" href="https://www.theurbandeveloper.com/articles/aia-gold-medal-kerstin-thompson-architecture" target="_blank" rel="noopener">Kerstin Thompson Architects’ </a>plans for the four-storey project comprise 41 apartments and 21 townhouses.&nbsp;Proposed are six one-bedroom apartments, 20 two bedroom and 15 three bedroom as well as&nbsp;88 car parking spaces, 80 bicycle storage spaces and 5 motorcycle parking spaces.&nbsp;A small 64sq m food and beverage tenancy on the ground floor with a basement level below for car parking is also part of the proposal. The townhouses would occupy one side of the site in three blocks while the apartments would be in one four-storey building.&nbsp;Alma Park is opposite the site, which currently has an existing two-storey building on it, home to a Fitness First centre and the St Kilda Sports and Fitness Centre Reserve at the rear end of the narrow, rectangular lot. Fitness First has a lease on the building that expires in 2024. <div id="3yG22KwoBOtJALLVbOFmpT"><picture><img src="//images.ctfassets.net/8pr762qjocl3/2FmCVqqVHqRtcxLfw6vcOf/ec0bcff91db0133cc716e3e2db17f4f6/Phillip_nominees_story_hero.jpg" alt="Daniel Besen's Phillip Nominees' tower project for 1 Spring Street next to Shell House and Milton House." data-mce-src="//images.ctfassets.net/8pr762qjocl3/2FmCVqqVHqRtcxLfw6vcOf/ec0bcff91db0133cc716e3e2db17f4f6/Phillip_nominees_story_hero.jpg"></picture><div>▲ A render of another of Daniel Besen’s developments, 1 Spring Street. </div></div>Neometro entered into a purchaser’s contract with Newheaven Pty Ltd in 2021, according to the title deed supplied with the application. The developer announced in March, 2022 that it had bought the site for $21.8 million and it was settled before Christmas that year. Newheaven’s directors and shareholders are Mark Geoffrey Riddell and Michael Douglas Thornborrow, according to ASIC records.&nbsp;Council records show an estimated cost of $29.7 million for the project. ASIC records reveal that the applicant, Alma Road Developer Pty Ltd, has Jeffery David Provan, James Peter Tutton, Jay Benjamin Doherty, Duncan Leith Murray, Lochlan Ison Sinclair and Simeon Goldenberg listed as directors. Shares in the company are held equally between Besen Alma Road Developer Pty Ltd and Neometro Alma Road Developer Pty Ltd.&nbsp;Provan originally founded Neometro in 1985 while Tutton currently head up the company as director. Murray is currently the chief executive of the Besen Family Office and a director of Arcus Partners. He was also previously the chair of AusCycling and Cycling Australia. The Besen Family Office provided financial backing for Daniel Hong to found Arcus Partners with Daniel Besen taking the director’s position. Doherty is the chief financial officer at Besen Group while Sinclair is development director at Neometro. Goldenberg is executive director at Besen Family Office.The Urban Developer contacted Neometro for comment.Daniel Besen founded Besen in 2000 to focus on property development. The Besen family owns major clothing brands including Suzanne Grae.&nbsp; Mark Besen and the family are listed at 56 on the most recent Rich List with an estimated net wealth of $2.23 billion.<a data-mce-href="https://www.theurbandeveloper.com/articles/spring-street-melbourne-tower-futures-melbourne-refusal" href="https://www.theurbandeveloper.com/articles/spring-street-melbourne-tower-futures-melbourne-refusal" target="_blank" rel="noopener">Daniel Besen’s most recent project </a>is the controversial Spring Street tower in the Melbourne CBD.<a data-mce-href="https://www.theurbandeveloper.com/articles/neometro-development-melbourne-projects" href="https://www.theurbandeveloper.com/articles/neometro-development-melbourne-projects" target="_blank" rel="noopener">Neometro has worked on other residential projects </a>in St Kilda but its most recent residential projects have been around the Jewell Station and railway line in Melbourne’s Brunswick.

Neometro, along with key people from Daniel Besen’s development company, have filed plans for an apartment project in St Kilda East…


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In a shift to office projects, developer Bathla has filed plans for a 21-storey office tower on the outskirts of Blacktown’s CBD in New South Wales.The 1240sq m site at 30 First Avenue, Blacktown, in Western Sydney will boast an office tower with some retail if the City of Blacktown council and the Sydney Central City Planning Panel approve the application.Bathla’s plans for the tower include six basement levels to provide 155 carparking spaces.There will be 287sq m of gross floor area for retail use and 696sq m of space for function centres.Another 362.5sq m of space will be set aside for recreational facilities while the total office gross floor area will be 11995.6 square metres.The two retail tenancies and one of the offices will be on the ground floor with the entrance lobby for the rest of the office space.A bar and lounge, function centre, food preparation area and another office will be on the first floor.Two more function rooms, another bar and lounge and a kitchen will be on the second floor.The third floor will have a chiller room, changing rooms and office space.Floors 5-20 will each have office space and amenities with the layout changing slightly on certain floors.<div id="2MeGT3U3ylj6i8EB6vEqty"><picture><img src="//images.ctfassets.net/8pr762qjocl3/50JPKXCklDq0b3JkSrW6xv/a0f1185d103f56f092da0aa580e5004c/bathla_office_tower_blacktown_story_mid_article_image.jpg" alt="The office tower will have 21 storeys but also six basement levels for car parking." data-mce-src="//images.ctfassets.net/8pr762qjocl3/50JPKXCklDq0b3JkSrW6xv/a0f1185d103f56f092da0aa580e5004c/bathla_office_tower_blacktown_story_mid_article_image.jpg"></picture><div>▲ The office tower will have 21 storeys but also six basement levels for carparking. </div></div>According to documents submitted with the application, the entire project is estimated to cost $33.6 million.Bathla Investments Pty Ltd, the applicant for the project, is a venture between Universal Property Group Pty Ltd, Raj and Jai Construction Pty Ltd and Western Sydney Property Group Pty Ltd.&nbsp; Universal Property Group trades regularly as The Bathla Group.&nbsp;The project has been designed by Bathla with construction also expected to be carried out by the developer.CoreLogic’s property records list the site as being sold by First Ave Pty Ltd in September 2022 with settlement in December 2022 for $7.6 million.CBRE Western Sydney’s Alex Mirzaian handled the sale to Sneh and Samisha Pty Ltd.ASIC records show that Neetu Dawar and Suman Lata are the directors and shareholders of Sneh and Samisha Pty Ltd.Bathla has most recently filed an application for <a data-mce-href="https://www.theurbandeveloper.com/articles/bathla-central-coast-masterplan-development-application" href="https://www.theurbandeveloper.com/articles/bathla-central-coast-masterplan-development-application" target="_blank" rel="noopener">a Central Coast masterplanned project with 400 apartments</a> but has also recently<a data-mce-href="https://www.theurbandeveloper.com/articles/bathla-austral-residential-development-application-sydney" href="https://www.theurbandeveloper.com/articles/bathla-austral-residential-development-application-sydney" target="_blank" rel="noopener"> filed plans for a four-storey tower block in Western Sydney</a>.&nbsp;

The highly prolific developer has filed yet another project, this time an office tower, with the City of Blacktown council…


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Developer Sterling Global has filed its first hotel plans for the Melbourne CBD site, opposite the Southern Cross station, it acquired less than two months ago.The application for a 42-storey, mixed-used tower for the 1972sq m site at 607-623 Collins Street has now been lodged with the Department of Transport and Planning. The plans by Carr Architects comprise 175 apartments, eight sub-penthouses and a 229-key hotel, as well as commercial space on levels 13 to 16. Among the three buildings currently on the amalgamated site is the former State Savings Bank, built in 1923 and currently operating as the Batman’s Hill on Collins Hotel.Sterling Global reportedly paid $55 million for the three sites, acquired from Rich Lister hotelier Mathieson and the family of the late Luigi Grollo, founder of home builder Grollo Homes. An undisclosed amount was paid for the hotel.An end value of $420 million has been put forward for project, which will have a tram line, railway station and the Yarra River walking and cycling tracks nearby.The locale is rich in restaurants, bars and brunch locations.&nbsp;Heritage consultants Lovell Chen have been working with Carr Architects on the plans, which include restoring the heritage facades of the original bank building and refurbishing the bank chamber.&nbsp;<div id="3UDxan3MrumMFmrsoJ1RkS"><picture><img src="//images.ctfassets.net/8pr762qjocl3/6zIVKEXQuyvofRpc1tF7qE/f9375c092a863353035ff2968c1cea3f/mid_article_image_collins_street_da_sterling_global.jpg" alt="Sterling Global has applied to the Department of Transport and Planning Victoria for planning permission to build a 42-storey project on the site." data-mce-src="//images.ctfassets.net/8pr762qjocl3/6zIVKEXQuyvofRpc1tF7qE/f9375c092a863353035ff2968c1cea3f/mid_article_image_collins_street_da_sterling_global.jpg"></picture><div>▲ A render of the tower proposed by Sterling Global.</div><div> </div></div>The bank’s foyer and high ceiling windows would also be restored.&nbsp;Above the bank would be a contemporary tower while the ground floor would have pedestrian access throughout. There would also be a rooftop bar and fine dining restaurant included in the project.&nbsp;Sterling Global director Brandon Yeoh said the acquisition was a first for the developer.“This is Sterling Global’s first hotel acquisition and our vision is for a community centric hub with a space for local workers, residents and travellers to connect, interact and celebrate, by offering inclusive and engaging spaces for everyone,” Yeoh said.<div id="5NTuYwNWQEOQCY3VCZToQN"><picture><img src="//images.ctfassets.net/8pr762qjocl3/1aiBnsshntmV0NYiuZroTX/1aeec8c68ebefd78278cadcc81d65aea/shesh_gale_hotel_mid.jpg" alt="The Sir Charles Hotham Hotel once had the largest bar in Victoria in response to the idea that the southwest corner of the CBD being the thirstiest spot in town." data-mce-src="//images.ctfassets.net/8pr762qjocl3/1aiBnsshntmV0NYiuZroTX/1aeec8c68ebefd78278cadcc81d65aea/shesh_gale_hotel_mid.jpg"></picture><div>▲ The Sir Charles Hotham Hotel once had the largest bar in Victoria in response to the notion that the south-west corner of the CBD was the thirstiest spot in town. Its location opposite The Age newspaper likely contributed to that. </div></div>The company has a development pipeline worth more than $1.6 billion that includes commercial, retail, residential and land assets.&nbsp;Current projects under way include Como Terraces, a luxury residential project in partnership with CBUS Property; and Huntingdale Estate, a 19ha urban infill site rezoned for residential use.Further down Spencer Street towards the Yarra River, Melbourne Institute of Technology founder Shesh Ghale has applied to <a href="https://www.theurbandeveloper.com/articles/shesh-ghale-spencer-street-melbourne-mixed-use-tower-plans-filed" data-mce-href="https://www.theurbandeveloper.com/articles/shesh-ghale-spencer-street-melbourne-mixed-use-tower-plans-filed" target="_blank" rel="noopener">redevelop the Sir Charles Hotham Hotel</a>.

Adding to the change along the southwestern end of Melbourne’s CBD, Sterling Global has filed plans for a site it has just acquired…


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“We are probably going to be in a more innovative period, on a number of different levels, than ever—and it’s out of necessity.” Urbis’ director Paul Riga is talking about the Brisbane residential market and his belief that the time is right for innovation. The market has had more than its fair share of woes in recent years—the pandemic sparked labour shortages, floods, supply chain issues, rising construction and material costs, all leading to an increasing number of construction insolvencies. It has left many developers wondering how they can survive, let alone thrive. But Riga believes there is hope for residential developers. “There will be innovative ways of getting people getting started,” Riga said.He believes innovation will be necessary to make projects more financially feasible for developers, especially as demand for houses and apartments changes on the back of price, supply and affordability movement.&nbsp;“And for people to keep doing the jobs that we do, doing the projects that we do, there’s going to have to be a level of innovation for these projects to be feasible,” Riga said. Riga will be speaking about the state of the market and how he see the future at <a href="https://web.cvent.com/event/7f31abf7-09ca-4622-9f4b-dde75c44182b/regProcessStep1:edca50ec-110b-4e5a-b1f6-e40ceb411ee4?rp=b39b6eec-e4fe-426f-915e-6424e6b0217c" data-mce-href="https://web.cvent.com/event/7f31abf7-09ca-4622-9f4b-dde75c44182b/regProcessStep1:edca50ec-110b-4e5a-b1f6-e40ceb411ee4?rp=b39b6eec-e4fe-426f-915e-6424e6b0217c" target="_blank" rel="noopener">The Urban Developer’s Brisbane Residential Summit on June 8</a>.&nbsp;<div id="7eIiBxaBhC1QHbwLtixnOn"><picture><img src="//images.ctfassets.net/8pr762qjocl3/7svkyn1BYu9oRQgfomEeKD/94207d286268b7c44bc4863632c6e4c7/Mid_article_resizes__9_.jpg" alt="Modular and prefab housing has been mooted as part of achieving the million home goal." data-mce-src="//images.ctfassets.net/8pr762qjocl3/7svkyn1BYu9oRQgfomEeKD/94207d286268b7c44bc4863632c6e4c7/Mid_article_resizes__9_.jpg"></picture><div>▲ Modular and prefab housing has been mooted as part of achieving Queensland’s million-home promise. </div></div>What these innovations will look like may vary but Riga says it will have to encompass several different parts of the process, from how planning is tackled to design, sales and construction. “There’s going to be more collaboration and more innovation in this space in the next two years, and my view is that there’s going to be more innovative solutions then we would have probably ever seen,” Riga said, “innovative building solutions, innovative cost management solutions, design solutions and so on.” But alongside this will come some hard truths around competing with government projects for much-needed construction labour, how to provide enough housing for people and how we think about living. “The industry is going to be very innovative over the next few years because we’re forced into it,” Riga said.“But as residents, our mindsets and our ideals will have to shift as well.” <hr> The Urban Developer Brisbane Residential Development Summit will take place on Thursday, June 8. <a href="https://web.cvent.com/event/7f31abf7-09ca-4622-9f4b-dde75c44182b/regProcessStep1:edca50ec-110b-4e5a-b1f6-e40ceb411ee4?rp=b39b6eec-e4fe-426f-915e-6424e6b0217c" data-mce-href="https://web.cvent.com/event/7f31abf7-09ca-4622-9f4b-dde75c44182b/regProcessStep1:edca50ec-110b-4e5a-b1f6-e40ceb411ee4?rp=b39b6eec-e4fe-426f-915e-6424e6b0217c" target="_blank" rel="noopener">Click here to register and learn more.</a>

As the Brisbane residential market tightens, Urbis’ Paul Riga talks about how developers can take advantage of the situation…


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Victoria is in better shape than ever, according to state Treasurer Pallas who has delivered his ninth budget.“I am delivering the Victorian budget 2023-24 and I do this amid a booming jobs market, a healthy economy and every sign that the state has bounced back,” Pallas told the parliament as he handed down the budget.&nbsp;“Our economy is performing well. The unemployment rate is below 4 per cent as it has been for most of the past year—which hasn’t happened for nearly 50 years.”Here are the announcements contained in the budget that The Urban Developer has indentified as having the most impact on the property sector.<h2>Housing</h2> Property investors and holiday homeowners will pay an average of $1300 more in land taxes which will raise $4.7 billion. Most of that will go towards the $8.6-billion Covid debt that Pallas wants to pay off. Absentee property owners will cop a surcharge increase to 4 per cent from 2 per cent to bring it into line with the rate in New South Wales. The tax-free threshold for land tax will also be cut to $50,000 from $300,000. Pallas said it was imperative that with increasing house prices and rents and land values more investors shoulder their part of the Covid debt bill. “We’ve structured the repayment plan in a way that’s reasonable and proportionate to those with an ability to pay,” Pallas said. The debt is expected to be paid off by 2033.<div id="6VBJm8wsQxa3SuUwABYeAg"><picture><img src="//images.ctfassets.net/8pr762qjocl3/6c6UthiCB8nqfI1TC2aXDm/5791a2350e3c15e4454ef4debb758216/vic_budget_mid.jpg" alt="Victorian Treasurer Tim Pallas: the state budget includes help for homeowners whose builder goes bust." data-mce-src="//images.ctfassets.net/8pr762qjocl3/6c6UthiCB8nqfI1TC2aXDm/5791a2350e3c15e4454ef4debb758216/vic_budget_mid.jpg"></picture><div>▲ Victorian Treasurer Tim Pallas: his budget includes help for homeowners whose builder goes bust. </div></div>Homebuyers will also get some relief with the state revenue commissioner given the ability to extend the land tax exemption on principal places of residence if <a data-mce-href="https://www.theurbandeveloper.com/articles/building-construction-insolvencies-australia-crisis" href="https://www.theurbandeveloper.com/articles/building-construction-insolvencies-australia-crisis" target="_blank" rel="noopener">the builder becomes insolvent</a>. A limit of two additional years will be imposed and it will only apply from January 1, 2024 for places under construction or renovation. Between these measures and the stamp duty reform, house prices are expected to decline by 3.5 per cent over the rest of 2023 before increasing again in 2024.<div id="WYqlbQBzQigh96l0XEMPr"><picture><img src="//images.ctfassets.net/8pr762qjocl3/1PmpbbmTy578UOMrbP6Vii/c0ab5a5db08e78cf97232f68eade8957/Melbourne_Metro_Tunnel" alt="Part of the construction works being carried out on Victoria's Metro Tunnel project." data-mce-src="//images.ctfassets.net/8pr762qjocl3/1PmpbbmTy578UOMrbP6Vii/c0ab5a5db08e78cf97232f68eade8957/Melbourne_Metro_Tunnel"></picture><div>▲ Part of the construction works being carried out on Victoria's Metro Tunnel project. </div></div><h2>Infrastructure</h2> “We are not going to cut back on the mortgage payments that fund our Big Build but we are going to pay off our Covd credit card bill,” Pallas said, signalling that much of Premier Daniel Andrews’ Big Build plans will continue. Many of the Big Build and other infrastructure projects in early planning stages have been put on pause while<a data-mce-href="https://www.theurbandeveloper.com/articles/federal-infrastructure-pipeline-review-reactions" href="https://www.theurbandeveloper.com/articles/federal-infrastructure-pipeline-review-reactions" target="_blank" rel="noopener"> the federal government conducts a review of all major infrastructure projects</a>.Another $7.3 billion was allocated in the Victorian budget for transport projects, adding to the $112 billion already spent or allocated towards major transport projects since 2014.&nbsp;The budget includes $2.8 million for maintenance and upgrades for flood recovery work on roads across the state including $1.8 billion for regional areas. There will be $42 million put forward for neighbourhood batteries to help residents access renewable energy even if they cannot have solar panels on their homes or apartment buildings. Another $4.9 billion is earmarked to upgrade hospitals and healthcare assets across the state and support the healthcare workforce.&nbsp;But one of the biggest announcements is the return of the State Electricity Commission a public sector organisation previously privatised. It will focus on driving renewable energy creation and consumption.&nbsp;There will also be $6 million put forward for the 155ha Bendigo Regional Employment Precinct so the City of Greater Bendigo can install power and water infrastructure, and planning works at the site.&nbsp;Another $10 million for the Growing Suburbs Fund will support providing critical local infrastructure in key fast-growing suburbs.&nbsp;And an investment of $12.3 million is expected for Victoria’s new centres to manufacture mRNA vaccines.&nbsp;<h2>Workers and skills shortage issues</h2> There will be $738.6 million to help workers get trained with $186 million to expand the Free TAFE program. More than 137,00 students have saved $340 million in fees since the Free TAFE program started in 2019 with its once-per-lifetime limit removed, allowing workers to return to retrain or upskill.&nbsp;&nbsp;New TAFE campuses are planned for Melton and Sunbury along with a disability and student services hub at Gordon TAFE in Geelong, all funded by $170 million for the Building Better TAFE Fund.&nbsp;“TAFE is training Victorians for jobs now and for the future—we’re backing more Victorians to get the skills they need for careers in in-demand sectors, and building better TAFEs right across the state, ” Victorian training and skills and higher education minister Gayle Tierney said.&nbsp;A Clean Energy Fund, first promised along with the SEC, is also on the cards.Another extra $90.5 million will subsidise vocational training with another $90 million for priority skills training and job placement support via TAFEs while $3.8 million will be spent reviewing and updating the curriculum and assessment resources.&nbsp;The skilled migration program will also get a $3.1-million boost to attract more workers.&nbsp;<div id="1SpRbl6zT7hvvCwy9aNRnI"><picture><img src="//images.ctfassets.net/8pr762qjocl3/1tk0jGONpT27xSanYERiHz/b99b5eb61d6c8b6055069af8b8e29809/Construction_Workers" alt="The Victorian 2023-24 budget has outlined funding and initiatives to support apprentices and boost workers retraining and entering the construction industry and other key sectors." data-mce-src="//images.ctfassets.net/8pr762qjocl3/1tk0jGONpT27xSanYERiHz/b99b5eb61d6c8b6055069af8b8e29809/Construction_Workers"></picture><div>▲ The Victorian 2023-24 budget will fund support for apprentices and boost workers retraining.</div><div> </div></div>There will also be a new $4-million mental health training program for apprentices and a further&nbsp; $1.5 million for the Apprenticeship Taskforce to ensure fair treatment for all apprentices.&nbsp;Jobs Victoria will get $35 million to support vulnerable jobseekers and another $36.2 million is earmarked to help local businesses expand and boost productivity via research and development grants.&nbsp;LaunchVic’s Alice Anderson Fund will get $5 million to support 70 women-led startups by 2025, while the Fair Jobs Code, which came into effect in December 2022, will get $2 million to help its rollout.&nbsp;An Australian first, the Gig Worker Support Service will get $9 million to ensure 350,000 gig economy workers get support and advocacy.&nbsp;The International Investment Attraction Fund will get $20 million to attract global companies with another $12 million for the Boosting Victorian Exports program to grow our $50-billion export sector.&nbsp;Wage Inspectorate Victoria will get $6.7 million to investigate underpayment claims and run education campaigns.&nbsp;Worksafe will get a new dedicated inspectorate with 20 specialist inspectors funded by $24.1 million to ensure workers are safe within the construction industry.&nbsp;“Too many construction workers are injured on the job—we’re taking action to make building sites safer and hold irresponsible employers to account,” Victorian minister for worksafe and TAC Danny Pearson said.&nbsp;Another $2.4 million will also be allocated to help more women enter the construction industry through the Big Build program.&nbsp;<h2>Community projects</h2> A total of more than $200 million to improve facilities for more than 100 local sporting clubs was announced. This includes $15 million for the Frankston Basketball Stadium redevelopment and $15 million to upgrade the Benalla Indoor Recreation Centre. An extra $23 million for the Major Events Fund is expected to attract <a data-mce-href="https://www.theurbandeveloper.com/articles/melbourne-victoria-construction-costs-outlook-big-build-commonwealth-games" href="https://www.theurbandeveloper.com/articles/melbourne-victoria-construction-costs-outlook-big-build-commonwealth-games" target="_blank" rel="noopener">several large events, shows and sports competitions to Victoria</a> which will potentially provide work for developers keen to work on facilities or assets that can benefit from the events.<div id="6uam7bau3qyIQfWrXbqBmi"><picture><img src="//images.ctfassets.net/8pr762qjocl3/7akhfu1fjNjaUHLMdKeJqU/68c04bf7dc4c756aedf872985187f935/basketball-gymnastics-5.jpg" alt="A render of the proposed redevelopment of the Frankston Basketball Stadium for which the Victorian government has allocated $15 million in the 2023-24 state budget." data-mce-src="//images.ctfassets.net/8pr762qjocl3/7akhfu1fjNjaUHLMdKeJqU/68c04bf7dc4c756aedf872985187f935/basketball-gymnastics-5.jpg"></picture><div>▲ A render of the proposed redevelopment of the Frankston Basketball Stadium.</div><div> </div></div>Around $2 million will be used to provide music education in schools as well as a planning overlay to protect live music venues.&nbsp; Minister for Regional Development Harriet Shing said a Tiny Towns Fund will be launched with $10 million for regional and outer suburban areas of up to 5000 people to fund projects that drive community building and tourism. “Our smallest towns are so important to rural and regional Victoria and we’re delighted to invest in these communities as part of delivering liveability and pride of place to every part of the state, now and into the future,” Shing said.&nbsp;There will also be $19 million invested in the Suburban Revitalisation Boards to work on local priorities with $1 million for renovating and repairing Cranbourne Public Hall.&nbsp;Revitalised cultural hubs in Box Hill, Chinatown, <a data-mce-href="https://www.theurbandeveloper.com/articles/dandenong-little-india-foster-street-rcd-capital-alliance-redevelopment-salta-inland-rail" href="https://www.theurbandeveloper.com/articles/dandenong-little-india-foster-street-rcd-capital-alliance-redevelopment-salta-inland-rail" target="_blank" rel="noopener">Dandenong</a>, Oakleigh, Elsternwick, Footscray, Richmond and other key locations will get $17 million to boost local jobs.&nbsp;“We’re backing the small businesses that sit at the heart of communities – revitalising our multicultural precincts, supporting traders’ groups and creating local jobs,” Victorian small business minister Natalie Suleyman said.<h2>Office and industrial</h2> The first major change is Premier Daniel Andrews’ stamp duty reform which will eliminate stamp duty for commercial and industrial properties. This is expected to boost business growth and expansion and encourage investment in office space and warehouses and other industrial and logistics assets. As part of the Economic Growth Package in the budget, the stamp duty system will transition to an annual property tax from July 1, 2024. It will also abolish business insurance duty. Victoria’s economy is expected to increase by $50 billion in net present value terms as a result of this change with new jobs created. From July 1, 2024 all commercial and industrial properties will transition to the new system as they are sold with a ten year period to pay the annual property tax. Buyers will have options to pay the final stamp duty liability as a lump sum immediately or pay the tax in fixed installments over a ten year period through a government-facilitated loan. The tax will be set at a flat 1 per cent of the property’s unimproved land value. Current owners are not included in the new system until the property is put up for sale post July 1, 2024.&nbsp;It is believed that removing stamp duty will help businesses get established and free up capital to be used on the buildings, construction or hiring workers.&nbsp;“Business and industry have told us they want this reform and we’ve listened,” Victorian treasurer Tim Pallas said.&nbsp;“These landmark changes will enable businesses to be more dynamic and agile, and to grow and employ more workers.”The reform does not apply to residential properties with the Victorian government saying it will consult with business and industry to work out the final form of the transition to the new system.&nbsp;Victorian Chamber of Commerce and Industry’s chief executive Paul Guerra is one of those that has already consulted with the state government.&nbsp;“This is exactly the type of progressive tax reform that is required to free up stamp duty charges which will accelerate building upgrades, stimulate investment in commercial property and free up more capital,” Guerra said.<h2>Supply chain issues</h2> The Victorian government has also announced an expanded transition support package for timber workers to move from native timber logging to plantation timber and other industries such as construction, agriculture, transport and manufacturing. It means that with this budget’s addition of $200 million, there is now more than $875 million in state government support for the transition to plantation timber to help resolve supply issues. Supply and work has been hampered by court and legal actions and severe bushfires over the past few years.&nbsp;The Victorian government said there is a lack of alternative timber supply locally and internationally to make up the shortfall and that there are no regulatory reforms that can be put in place to prevent future legal actions.&nbsp;It will instead put workers through the Free TAFE program to retrain in certain industries along with $8000 in retraining vouchers available for other TAFE courses.Out-of-pocket costs for accessing and access to mental health assistance for workers and their families will also be provided as will industry support payments. There will also be considerations around managing the 1.8 million ha of timber harvesting allocated public land and several programs set up to help businesses start up, grow and transition to plantation timber. A program to help other businesses switch to plantation timber supply will also be created.&nbsp;<div id="7Fw6xQcYdRp7fUdZitEDi4"><picture><img src="//images.ctfassets.net/8pr762qjocl3/7rG97FrZrKEQUS32ivTUKh/2eeec738eaa97c93f377d4811656550e/timber_mid.jpg" alt="null" data-mce-src="//images.ctfassets.net/8pr762qjocl3/7rG97FrZrKEQUS32ivTUKh/2eeec738eaa97c93f377d4811656550e/timber_mid.jpg"></picture><div>▲ Timber supplies are in the sights of the budget with a number of measures announced. </div></div>It means a part of the supply chain woes faced by the industry recently might be resolved sooner than expected. “That’s why we’re stepping up to give these workers—and their communities, businesses, and partners along the supply chain—the certainty they deserve,” Premier Daniel Andrews said.&nbsp;Victoria’s key defence sector supply-chain projects will also receive a $4-million investment.<h2>Cost of living</h2> There will be $400 million allocated to provide another round of the Power Saver Bonus for families.Regional public transport fares will be capped at metro rates with $190 million allocated to help it happen while $141 million is provided to install air conditioners across more than 40 high-rise public housing towers.Around $90 million will be allocated to digitise essential government services with $50 million provided for families to access public fertility care.Veterans will get assistance via a Victorian Veterans Card to help with the cost of living allowing them to access discounts which is funded by $42 million in a program.&nbsp;Free period products and access to machines providing them&nbsp; at 700 public sites across the state will be funded by a $23 million allocation.&nbsp;The Baby Bundle program will be funded over four years with $17 million to help new parents transition into parenthood.The Smile Squad free dental program will be expanded with $17 million for school age children to access dentist services.Solar Victoria will get $16 million to provide interest-free loans to install solar battery storage systems in homes.&nbsp;Tradies and apprentices will get free car registration offset by a $10 million allocation.&nbsp;

As Victorian Treasurer Tim Pallas announces his ninth budget, The Urban Developer unpacks what policies will affect the property sector…


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A Melbourne-based developer wants to add three storeys to its planned large luxury apartment project in a key eastern suburb.Developer Royal Fund has filed amendments to its plans with the City of Boroondara to take the residential tower, called Bijou, from 9 to 12 storeys, and 37 to 53 two-bedroom apartments. The development is being proposed for an 840sq m site at 699-701 Burke Road, Camberwell, 10km east of the CBD.A cafe is included in the plans as well as 80 basement level carparking spaces, 20 bicycle storage spaces and six motorcycle parking spaces. Car stackers are included in the basement.A gym and fitness centre and rooftop communal garden are also part of the plans.The site is close to three schools as well as the Swinburne University and the Hawthorn Aquatic and Leisure Centre.Read Garden and Lower Reserve are also nearby as is the Camberwell Train Station and a tram line.The project is forecast to cost $48.5 million.<div id="cNqHz3mQE8qlnUSRqmc38"><picture><img src="//images.ctfassets.net/8pr762qjocl3/13pmF2JGBFPIIOC5GTVS8H/2cccd1979f95ae6c8c7957a8e38ff320/int3.jpg" alt="Fender Katsalidis' render of Royal Fund's Camberwell project Bijou." data-mce-src="//images.ctfassets.net/8pr762qjocl3/13pmF2JGBFPIIOC5GTVS8H/2cccd1979f95ae6c8c7957a8e38ff320/int3.jpg"></picture><div>▲ A render of the previous tower planned for the site in Camberwell. </div></div>There is a single-storey warehouse built in the 1970s on the site currently.CoreLogic property records list the site as last exchanging hands in November, 2015 for $5.7 million with settlement in February 2016. It does not list the vendor or the buyer. ASIC records list Zi Chuan Bai as the director of the company Royal Fund 699 Burke Development Pty Ltd with Naidong Ma and Zi Chuan Bai as joint shareholders. Zi Chuan Bai is also listed as a director for Royal Fund 699 Burke Land Pty Ltd with both companies registered at the same Zetland Road address at Mont Albert.

New plans have been filed changing the number of apartments and storeys for developer Royal Fund’s Bijou project in Camberwell…
