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Shell Cove development approved despite resident concerns
ALEX ARNOLD
327 words
26 Aug 2015
Illawarra Mercury
ILM
English
The Southern Joint Regional Planning Panel has approved a 27-dwelling development in Shallows Road, Shell Cove, despite concerns from neighbouring residents that the type of dwellings proposed are out of character for the area.
The application from Australand, on Shellharbour City Council-owned land, comprises a mix of detached, semi-detached and attached dwellings on a 9100 square metre superlot.
Nearby resident Gabrielle Meadley said the proposed style of housing, with its Fonzie units, was not what current residents had expected for the low density environment in which they had built and complied with low density regulations.
A walled city is not what residents envisaged, Ms Meadley said, adding there were concerns regarding traffic access and pedestrian safety.
People paid premium price for their land in good faith.
The council assessment said the proposed housing type was conducive to a site in transition which sat between a low density residential area and the boat harbour precinct where more intense types of development were provided for.
The JRPP unanimously approved the application.
Panel member Alison McCabe said the reality was the planning framework allowed for the type of development proposed for the site, adding there was a need for a range of housing types beyond single dwellings on 450 square metre lots.
Meantime the JRPP also approved the council's application for the redevelopment of the Dunmore Recycling and Waste Disposal Depot.
The Dunmore project, now valued at $14.6million, includes the development of an organics processing facility and relocation of the transfer station.
The council said once the organics facility was operating, food scraps and garden debris would be collected weekly from residents" green lid bin and processed in the facility to be sold as a marketable resource.
The operation of the organics processing plant will have significant positive financial, environmental and social impacts on our community, Shellharbour Mayor Marianne Saliba said.
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- Aug 31 2015 at 6:11 PM
- Updated Aug 31 2015 at 6:11 PM
Australand becomes Frasers Property Australia
NaN of
[img=620x0]http://www.afr.com/content/dam/images/g/i/i/b/p/b/image.related.afrArticleLead.620x350.gjbh6j.png/1441008667867.jpg[/img]Frasers Property Australia chief executive Rod Fehring says the business has "very good momentum". Robert Rough
by Robert Harley
The Singapore-based Frasers Centrepoint has stamped its mark on the Australand Property Group – the local business which it acquired a year ago – rebranding the operation as Frasers Property Australia.
Frasers Property Australia chief executive, Rod Fehring, said the new brand aligned the group with its international parent and stressed the integration within the Australian business.
Mr Fehring noted "a remarkably consistent alignment of values", between the global and local operations, summed up in the idea "real places for real people".
He added that under the new brand, Frasers Property Australia would broaden its market reach, create opportunities to develop supplementary asset classes and build alignment with Frasers' Singapore-based Real Estate Investment Trust platform.
One Melbourne tower, 357 Collins Street, has already be sold to the Frasers Commercial Office Trust and other projects can be sold to the Frasers Centrepoint Trust, which holds retail, and the Frasers Hospitality Trust.
"Its a very powerful model; to grow assets, stabilise the earnings, and then recycle the capital," Mr Fehring said.
Frasers has also considered floating an Australian REIT. Mr Fehring acknowledged it was an option but stressed that "we don't need to create trusts for the sake of them."
All the Frasers Centrepoint real estate operations in China, New Zealand, Thailand, the United Kingdom and Vietnam, operate under the Frasers Property banner. Total assets under management are around $23 billion.
Mr Fehring said the Australian business was trading "very strongly", with 167,500 square metres of commercial and industrial space under development, a portfolio of investment properties valued at $2.7 billion and unrecognised residential revenue of $1.5 billion.
Under the Frasers control it has expanded the development business buying a mixed use site in the Brisbane suburb of Cooparoo, a land project at Grampian Way near Ipswich in south east Queensland and last week the Edmondson Park Town Centre site in Sydney's south west for around $100 million.
"We have very good momentum, and we have a significantly larger backing than before, but we have to take a disciplined approach because most segments of the market are so strong," he said.
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Frasers to reshuffle assets as Australand merger nears completion
Samantha Hutchinson
[Image: sam_hutchinson.png]
Property Writer
[Image: 745129-21edbc7c-4f9f-11e5-b80b-e6817984bcd4.jpg]
Frasers Property Australia chief executive Rod Fehring is looking at recycling capital. Picture: Sam MooySource: News Corp Australia
[b]Frasers Property Australia is set to shift its remaining office holdings at Melbourne’s Freshwater Place into its parent’s managed funds as it takes the final steps of its take over of Australand.[/b]
Australand will now be known as Frasers Property Australia, with all of its projects marketed under the international Frasers brand.
The group, which is owned by Singapore-listed Frasers Centrepoint, that is controlled by Thai tycoon Charoen Sirivadhanabhakdi, has also flagged that it may restructure its Australian office holdings.
Frasers Centrepoint runs a Singapore-listed office trust that has already picked up an asset from the Australand portfolio.
The group has now opened the door to do the same with more office holdings, in addition to some assets in other sectors.
“We’re continuing to look at the best way to recycle capital, and it’s no secret that there are better ways to manage exposure to the commercial office space in Australia,” Frasers Property Australia chief executive Rod Fehring told The Australian.
“It would be reasonable to assume that we’d be looking at the remainder of the office assets at Freshwater, and that exhausts the majority of CBD office product.”
The group has also indicated it could do the same with its portfolio of industrial assets, which is regarded as one of the country’s best.
“We’d keep control within Frasers — the management rights, that is — but asset ownership is the key aspect we’d want to get a co-investment arrangement on,” Mr Fehring said. “That releases capital for us to continue to build new product. We’ve been working on (the industrial portfolio) for some months, but it’s not a likelihood that it will happen this year.”
The group’s Singapore-listed Frasers Commercial Trust in April paid $222.5m for a tower at 357 Collins Street in Melbourne.
In May, the group repeated the move by selling Sydney’s Sofitel Wentworth Hotel into its hospitality trust for $224m.
“We’ve had evidence that the model is working,” Mr Fehring said.
According to the executive, the shift to the managed fund model is largely influenced by a desire to capitalise on Asian capital flows, which are increasingly chasing exposure to Australian property. The rebranding of Australand would also help in this respect, he said.
“Adopting the Frasers Property brand aligns us with our international parent company,” he said. “The Australand brand is strong in Australia, (but) we see this as an opportunity to move to a broader platform and to integrate the Frasers element.”
The group will forge ahead with existing projects in the residential and industrial sectors, in addition to chasing opportunities in comparatively new fields such as student accommodation — which it has trialled at Sydney’s Central Park complex — and suburban offices, which Fehring believes is more closely linked to industrial markets than office.
“We’ve got no intention to change our position in the residential and industrial markets, but we’re exploring adjacent markets,” he said.
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Central Park: Frasers, Sekisui get OK on Broadway makeover
Kylar Loussikian
[Image: kylar_loussikian.png]
Journalist
Sydney
[Image: 760446-871d50f0-5204-11e5-8ffe-a0d4079a7abb.jpg]
An artist’s impression of the Central Park development at Broadway in inner Sydney. Source: Supplied
[b]Frasers Property and Sekisui House have the green light to proceed with the second stage of the Central Park on Broadway mixed-use development.[/b]
The project will include a 283-room hotel above the historic Australian Hotel — more recently known as the Abercrombie — with two towers that also take in 48 apartments, several office floors, and retail space.
The 15-storey project, designed by Foster + Partners and PTW Architects, will also include a childcare centre and 121 car parking spaces. The tower will perch above the Australian Hotel, which is on the corner of Abercrombie Street and Broadway.
A Department of Planning spokesman said the development would create an estimated 700 ongoing jobs and 500 jobs during construction.
“More childcare and shops will be a great addition to Central Park, bringing more life and more opportunities for people to live, work and visit the area,” he said. “The Australian Hotel and Abercrombie Street terraces will be refurbished, reviving these key features of the precinct’s identity.”
Frasers Property and Sekisui House declined to comment.
Another part of the old Carlton United Brewery site in Chippendale will open later this month into a new retail precinct, with the refurbishment of heritage terraces and warehouses along Kensington Street nearing completion.
That part of the precinct is being developed by Greencliff, led by Stanley Quek. The conversion will also include the redevelopment of the Clare Hotel into a boutique hotel, rebranded the Old Clare Hotel.
Frasers purchased the CUB Brewery site in 2007, later selling the eastern side of Kensington Street to Greencliff in 2012.
“It has been our ambition to sensitively restore and respect these original fine-grain dwellings which hold so much character and offer a truly fascinating insight into what life was like in Chippendale back in the mid-1800s,” Dr Quek said.
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http://www.urbangrowthnsw.com.au/news/ne...ender.aspx
Newsroom
Australand wins Edmondson Park Town Centre tender
UrbanGrowth NSW today confirmed that Australand, a member of the Frasers Centrepoint Group, has been awarded the tender for the purchase and development of the Edmondson Park Town Centre in South-West Sydney.
The 24-hectare site, which has the capacity to deliver a minimum of 900 new homes and up to 45,000sqm of retail and commercial space, adjoins the Edmondson Park train station which opened in February 2015.
Edmondson Park is the gateway to Sydney’s South West Growth Centre which, over the next 30 years, is expected to be home to some 300,000 people.
“UrbanGrowth NSW congratulates Australand on their vision for the town centre, which has the potential to set the new standard for village-style town centres in western Sydney, incorporating an urban lifestyle with plenty of open green spaces, while also capitalising on its proximity to bus and rail networks,” said UrbanGrowth NSW Chief Executive, David Pitchford.
Australand Chief Executive Officer Rod Fehring said the company is proud to partner with UrbanGrowth NSW in this significant project for western Sydney.
“Edmondson Park Town Centre presents an ideal opportunity to locate homes near new transport infrastructure. This is the very best starting point for great residential communities, and we plan to enhance this opportunity with a carefully conceived mix of retail, business, health and lifestyle amenities,” said Mr Fehring.
With up to 45,000sqm of retail and commercial space within the Town Centre, Australand’s specialised expertise in mixed-use master-planned communities will be invaluable.
One of the best connected new urban developments in Sydney, Edmondson Park is located 8km from Liverpool CBD and about 45km from the Sydney CBD. It has a centrally located new bus-rail interchange and easy access to the M5 and M7 motorways.
UrbanGrowth NSW started a two-stage sale process in August 2014 to select a preferred tenderer to purchase and develop the future mixed use town centre site at Edmondson Park.
Stage one of the sale process involved an Expression of Interest (EOI) being issued to the open market.
A strong response was received from industry, and five organisations were identified to progress to stage 2.
The tender campaign was managed by Savills and Matrix Property on behalf of UrbanGrowth NSW. The tender process closed on 27 March 2015.
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(07-09-2015, 09:06 PM)greengiraffe Wrote: http://www.urbangrowthnsw.com.au/news/ne...ender.aspx
Newsroom
Australand wins Edmondson Park Town Centre tender
UrbanGrowth NSW today confirmed that Australand, a member of the Frasers Centrepoint Group, has been awarded the tender for the purchase and development of the Edmondson Park Town Centre in South-West Sydney.
The 24-hectare site, which has the capacity to deliver a minimum of 900 new homes and up to 45,000sqm of retail and commercial space, adjoins the Edmondson Park train station which opened in February 2015.
Edmondson Park is the gateway to Sydney’s South West Growth Centre which, over the next 30 years, is expected to be home to some 300,000 people.
“UrbanGrowth NSW congratulates Australand on their vision for the town centre, which has the potential to set the new standard for village-style town centres in western Sydney, incorporating an urban lifestyle with plenty of open green spaces, while also capitalising on its proximity to bus and rail networks,” said UrbanGrowth NSW Chief Executive, David Pitchford.
Australand Chief Executive Officer Rod Fehring said the company is proud to partner with UrbanGrowth NSW in this significant project for western Sydney.
“Edmondson Park Town Centre presents an ideal opportunity to locate homes near new transport infrastructure. This is the very best starting point for great residential communities, and we plan to enhance this opportunity with a carefully conceived mix of retail, business, health and lifestyle amenities,” said Mr Fehring.
With up to 45,000sqm of retail and commercial space within the Town Centre, Australand’s specialised expertise in mixed-use master-planned communities will be invaluable.
One of the best connected new urban developments in Sydney, Edmondson Park is located 8km from Liverpool CBD and about 45km from the Sydney CBD. It has a centrally located new bus-rail interchange and easy access to the M5 and M7 motorways.
UrbanGrowth NSW started a two-stage sale process in August 2014 to select a preferred tenderer to purchase and develop the future mixed use town centre site at Edmondson Park.
Stage one of the sale process involved an Expression of Interest (EOI) being issued to the open market.
A strong response was received from industry, and five organisations were identified to progress to stage 2.
The tender campaign was managed by Savills and Matrix Property on behalf of UrbanGrowth NSW. The tender process closed on 27 March 2015.
The billion-dollar suburb
Stacy Thomas
411 words
2 Sep 2015
Liverpool Leader
LIVLEA
English
Edmondson Park will cost more than $1 billion, and work is scheduled to start on the newest southwestern Sydney suburb next year.
Frasers Property Australia was awarded the town centre tender last week, to build 900 homes and 45,000sq m of commercial and retail space.
Frasers Property Australia chief executive Rod Fehring said the project would be iconic in many ways, mainly because of its size.
The 24ha site is expected to increase the southwest population by 300,000 over the next 30 years.
“We want to get it right. We’ve been working on it for two years,” Mr Fehring said.
“We want to leave a legacy for the southwest, a town centre that is a destination for people to enjoy. There will be access points from an affordability point of view, so they can be part of it without breaking the budget.” The developers are confident of the residential component, offering an entry point in the high $300,000s to buy in the suburb, making it attainable for many.
“We’ve very much positioned our residential as a mainstream product that’ll deliver good value with access to jobs and transport,” Mr Fehring said.
“Stage one of the residential will include a mix of units and dwellings – attached and semi-attached. Our apartment product will be complete probably six to nine months later.” There is a strong focus on ensuring transport, shopping, entertainment, education and health are available in the suburb.
And while there will be street access to all areas, Mr Fehring said the streets would be for people, not for cars.
“We have designed the retail space to have few vehicles, to enhance the overall experience,” he said.
“There will be about 1500 permanent, ongoing jobs in retail. We’ve had discussions with the bigger retailers, but have not locked any of them in yet. But we intend to do that in the relatively short term.”
THE ROAD AHEAD ■ Development applications to be lodged ■ Homes to use 60 per cent less water than the average Sydney home ■ Construction to start no later than mid next year ■ Seven years of construction across different stages ■ First stage of retail delivered by end of 2017, and residential slightly ahead of that schedule ■ Retail will take up 25 per cent ■ The suburb will be brimming with 300,000 people after 30 years ■ 2500 construction jobs over the seven years■ 1500 ongoing retail jobs
News Ltd.
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All roads lead west to industry
Carolyn Cummins, Commercial property editor
498 words
5 Sep 2015
Sydney Morning Herald
SMHH
English
The $20 billion of infrastructure work being undertaken by the NSW government has opened up the south-west of Sydney, leading to high demand for industrial assets, agents say.
There has seen a rise in rents as supply remains tight because of the juggernaut residential developments where land and older warehouses are being snapped up for apartment projects.
The newly minted Frasers Property Australia, formerly Australand, has invested in the area with its new site at the Edmondson Park town centre, which will be eventually rezoned and developed into a mixed-use retail and residential site.
Stockland has also identified the region as having significant growth potential with its Willowdale development. CBRE's research shows that up to 850,000 square metres - more than double the space of Sydney's central business district - are earmarked for development from 2017 to 2027.
CBRE senior research analyst Alexander Tan said shrinking stock levels in south Sydney and the central west markets made the south-west an increasingly attractive alternative for industrial operators.
"The gentrification of industrial estates such as south Sydney and the central west is an inevitable evolution for major cities, and one which Sydney is currently experiencing," Mr Tan said.
"Improvements of transportation networks such as WestConnex, combined with major developments including the Moorebank intermodal terminal, have put the south-west in the spotlight."
CBRE research shows about 210,000 square metres of industrial stock in south Sydney could be converted over the next five years.
"Taking into account the limited supply pipeline for warehouse stock in south Sydney over the next five years, being 200,000 square metres of which 127,000 square metres is uncommitted, vacancy is expected to tighten further," Mr Tan said.
"As industrial vacancy gets tighter in south Sydney, the central west and south-west precincts emerge as clear alternatives in terms of proximity. The south-west is positioned to benefit from this migration wave, absorbing tenants relocating from south Sydney and the central west, while also remaining attractive in its own right."
CBRE NSW industrial director Michael O'Neill said the south-west's accessibility combined with major developments earmarked for the area would lead to the area becoming Sydney's industrial centre of the future. Despite a substantial amount of western Sydney land being available for development over the medium and long term, there is a lack of serviced land for immediate development because of servicing costs, rezoning and acquisition lead times.
Knight Frank's director of NSW research, Nick Hoskins, said land owners with appropriately zoned land could be active players in the pre-commitment cycle, with competition limited to some institutional developers and larger private developers.
Mr Hoskins said most development within the Western Sydney Employment Area had been undertaken by the major institutions over the last 12 years, but the private sector was showing a greater propensity to push new projects.
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(04-09-2015, 12:01 AM)greengiraffe Wrote: Central Park: Frasers, Sekisui get OK on Broadway makeover
Kylar Loussikian
[Image: kylar_loussikian.png]
Journalist
Sydney
[Image: 760446-871d50f0-5204-11e5-8ffe-a0d4079a7abb.jpg]
An artist’s impression of the Central Park development at Broadway in inner Sydney. Source: Supplied
[b]Frasers Property and Sekisui House have the green light to proceed with the second stage of the Central Park on Broadway mixed-use development.[/b]
The project will include a 283-room hotel above the historic Australian Hotel — more recently known as the Abercrombie — with two towers that also take in 48 apartments, several office floors, and retail space.
The 15-storey project, designed by Foster + Partners and PTW Architects, will also include a childcare centre and 121 car parking spaces. The tower will perch above the Australian Hotel, which is on the corner of Abercrombie Street and Broadway.
A Department of Planning spokesman said the development would create an estimated 700 ongoing jobs and 500 jobs during construction.
“More childcare and shops will be a great addition to Central Park, bringing more life and more opportunities for people to live, work and visit the area,” he said. “The Australian Hotel and Abercrombie Street terraces will be refurbished, reviving these key features of the precinct’s identity.”
Frasers Property and Sekisui House declined to comment.
Another part of the old Carlton United Brewery site in Chippendale will open later this month into a new retail precinct, with the refurbishment of heritage terraces and warehouses along Kensington Street nearing completion.
That part of the precinct is being developed by Greencliff, led by Stanley Quek. The conversion will also include the redevelopment of the Clare Hotel into a boutique hotel, rebranded the Old Clare Hotel.
Frasers purchased the CUB Brewery site in 2007, later selling the eastern side of Kensington Street to Greencliff in 2012.
“It has been our ambition to sensitively restore and respect these original fine-grain dwellings which hold so much character and offer a truly fascinating insight into what life was like in Chippendale back in the mid-1800s,” Dr Quek said.
Glass tower atop Australian Hotel at Central Park approved – and labelled absurd
652 words
5 Sep 2015
Arab Finance
ARFIN
English
Controversial plans for a massive new glass tower to be built over the preserved heritage-listed art deco Australian Hotel have been approved by the State Government for the next round of development at Central Park on Broadway.
The old curved 1938 building will be retained and restored at the foot of the new 16-storey block set on a series of columns, which will house 48 apartments, commercial offices and a childcare centre. Next to it will be a second new tower of 18 storeys containing 293 hotel rooms.
The design of the new complex has previously been blasted as leaving the pub, also known as the Abercrombie, looking like a Monty Pythonesque "mere toenail at the end of a tattooed, robotic leg" by outspoken critic, Chippendale resident and sustainability campaigner Michael Mobbs.
On hearing of the go-ahead being finally granted, he said it was now "going to become an infected, in-grown toenail" and appeared so silly, maybe the hotel should be razed instead.
"This is meant to be a gateway to the city, but instead it looks like a little moment of absurdity as you drive in," Mr Mobbs said. "It's just silly, I think you have to laugh at things like this, otherwise the design in Sydney would drive you crazy.
"The hotel just looks so at odds with everything that's going to be around it, it might as well go - which I suspect was the intention in the first place."
The buildings, part of the $2 billion Frasers Property Australia and Sekisui House redevelopment of the old Carlton United Brewery site, have been designed by award-winning London-based architects Foster and Partners, together with Sydney firm PTW.
The western tower overhanging the hotel - one of only five brick hotels built in the Sydney CBD in the interwar Functionalist style for the use of the old brewery workers - will be set back six metres from the street edge, so it won't be as obvious from the ground. The hotel closed its doors for the final time in January.
But Frasers marketing and sales director Paul Lowe said the design couldn't be appreciated properly until the final images are released sometime in the next two weeks. Until then, people would be unable to see the big picture.
"I've heard the hotel design being called a toenail on the bottom of a huge foot," he said. "But it's only when you see all the elevations that you can understand how sympathetic the design of the towers are to the hotel. You need to see how the hotel has been preserved, and the tower is set back to really appreciate the whole thing."
The two new buildings, just approved by the Department of Planning and Environment, will be constructed on the corner of Broadway and Abercrombie Street opposite the UTS engineering school and St Benedict's Church. The second tower, said Lowe, is still awaiting final approval.
It's not yet been decided how the empty hotel's shell will be fitted out internally and used.
But Mr Mobbs says locals are unlikely to protest the planning decision. They appreciate some elements of the new Central Park development, particularly how it's brought fresh energy to the area, and has created spacious new parklands, but feel their criticisms of the design around the hotel will fall on deaf ears.
"The sense I get from talking to people is that the evolution of Central Park is like watching a huge aircraft pulling into the driveway. It's so big, what can you do? It's like Aboriginal people watching the first giant ships pulling into the harbour. It's like, Geez! What's this?
"For me, it's an illustration of the tussle between greed and good design, and greed wins out."
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http://www.frasersproperty.com.au/NSW/Shell-Cove
Final release out
The final release of Alfresco Collection homes at Shell Cove will take place next weekend.
The 14 designer homes are positioned in the Shallows precinct and comprise terraces, townhomes and free-standing residences.
Shell Cove is being developed by Shellharbour City Council and Frasers Property Australia (formerly known as Australand).
Frasers Property Australia NSW residential division general manager Nigel Edgar said the final homes in the Alfresco Collection were a short stroll to everything.
"Cycleways, children's playgrounds and the green open spaces of the Wetlands Park will be an easy walk away, while the dining and shopping options at the future marina and vibrant town centre of The Waterfront are also close by," he said.
The release of the final Alfresco homes includes five three-bedroom terraces priced from $660,000; six townhouses priced from $700,000; and three freestanding four-bedroom residences priced at $760,000 to $815,000.
The homes feature functional, modern layouts, combining open-plan living with spacious and seamless indoor outdoor entertaining areas.
The release will take place on Saturday, September 19, from 9am.
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Frasers rides consumer boom
Larry Schlesinger
271 words
17 Sep 2015
The Australian Financial Review
AFNR
English
Demand from retailers for new distribution and storage facilities has helped Frasers Property Australia add 210,900 square metres of new projects on the east coast over the past 12 months, the company says.
The former Australand business, controlled now by Thai tycoon Charoen Sirivadhanabhakdi and part of Singapore-listed Frasers Centrepoint, has struck pre-leases with Toshiba, Fisher & Paykel, Australian Geographic and Miele, among others, for new facilities, increasing the value of its commercial and industrial portfolio by $275 million to $2.4 billion.
The majority of the deals were struck in Sydney and Melbourne, with the remainder in Adelaide and Brisbane.
"The strong performance of the housing markets in both Sydney and Melbourne over the past 12 months has helped increase demand in these cities for consumer goods, well-located distribution centres and storage space," Reini Otter, head of commercial and industrial for Frasers Property, said.
"Customers working in this space are increasingly seeking facilities in shorter time frames, which we have been able to deliver," he said.
Over the next 12 months, Frasers Property will develop a further 280,000 square metres of industrial facilities valued at more than $400 million, while also looking to add to its industrial land banks in Sydney, Melbourne and Brisbane.
Mr Otter said over the past year there had been a strong compression in yield, which had led to an increase in asset prices, particularly in the core logistics markets of western Sydney and Melbourne's west and south-east, as well as Brisbane's Trade Coast and the Logan Motorway corridor outside Brisbane.
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