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A Melbourne real estate agent was ordered to serve 200 hours of community services after illegally claiming a First Home Owner Grant (FHOG) despite already owning a home, according to the State Revenue Office (SRO) of Victoria. 
The man pleaded guilty to the First Home Owner Grant Act 2000 and Tax Administration Act 1997. His legal team told the court that he was unclear about what he was doing and the repercussions of his actions. The magistrate dismissed this claim due to the nature of the man’s occupation.
The man first bought a property in St Kilda in 2005 and received the FHOG. The grant was later reclaimed after the SRO found he did not meet the residency requirements.
In 2009, he purchased a second property in Chadstone and applied unsuccessfully to receive the FHOG. The SRO rejected the application on the basis that he had not repaid the FHOG for his St Kilda property.
After repaying that amount, he once again applied for the FHOG. During this period he acquired another property in Moorabbin. When SRO investigators questioned the purchase of this property, he provided a statutory declaration stating the Moorabbin property was for investment purposes and he had never lived there.
Upon receipt of this declaration, he was then paid a $16,000 FHOG.
The SRO conducted further investigations and found that the man once again did not meet the residency requirements to receive a FHOG.
The court heard that the man was extremely sorry and had learned an important lesson from his actions. He was then sentenced without conviction to a 24-month community correction order that requires him to perform 200 hours of community work, amongst other conditions. He was also ordered to pay an extra $203.60 of out-of-pocket costs to the SRO within a month.
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Melbourne real estate agent pleads guilty to First Home Owner Grant offences

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The push of global retail brands into Australian capital city malls and high streets continues this week with global retail brand Zara putting the finishing touches on its latest store in the expanded Highpoint Shopping Centre in Maribyrnong, which launched today.
Zara, UK fashion giant Topshop and David Jones are anchor tenants in the new Highpoint Fashion Mall, which complements the Fresh Food Market and Eco Mall which opened last year.
It is an Australian first for a shopping centre to house both Zara and Topshop under one roof.
Topshop opened its Highpoint store today with Zara to start trading from next week.
It is part of a $300 million redevelopment of the Centre, with the 30,000 square metre increase in retail space completed in two stages – all of which is now leased.
The completion of the redevelopment leapfrogs Highpoint from 12th biggest shopping centre in Australia to third biggest – behind the Chadstone Shopping Centre in Malvern East and Westfield Fountain Gate in Narre Warren.
The shopping centre, in Melbourne’s west, is co-owned by GPT and the Highpoint Property Group.
Zara forms part of Spanish retail company INDITEX and has more than 1,700 stores across 85 markets.
The other Zara stores in Melbourne are on Bourke Street Mall in the CBD, in Westfield Doncaster and in the Chadstone Shopping Centre.
Zara’s flagship store, which is in Westfield Sydney, opened in April 2011.
Amancio Ortega, the major shareholder of Zara with 60% of the business, was the <a target="_blank" href="https://www.forbes.com/profile/amancio-ortega/">fastest mover on the annual Forbes magazine rich list</a> released this month.
With his net worth increasing by US$19.5 billion to US$57 billion, he is now the third richest man in the world, after Mexican telecoms mogul Carlos Slim and Microsoft’s Bill Gates.
Ortega also has a real estate portfolio worth about US$4 billion, with properties in Madrid, London, Chicago, San Francisco, and New York.
Born in Spain in 1936, his father a railway worker in Leon, Ortega opened his first Zara store in downtown A Coruña, Galicia, Spain in 1975.
The arrival of both brands to Melbourne’s inner west comes as Colliers International projected that international retail brands would open 300 stores in Australian capital cities in the next few years.
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Zara to open in Melbourne’s Highpoint mall as Amancio Ortega’s wealth hits $57 billion

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Sydney’s Westmead Rehabilitation Hospital has been sold for $30 million, in a deal involving St Andrews Healthcare, Pulse Health, and Generation REIT.  
Located at 7 Coleman Street, the 61-bed private rehabilitation hospital is located in western Sydney’s Merrylands, three kilometres south of Parramatta and within close proximity of the Westmead Public Hospital and Westmead Private Hospital.  
This is the third private hospital that Colliers International Healthcare &amp; Retirement Living has sold in twelve months.    
Shane Nicholson of Colliers International, who represented the vendor St Andrew’s Healthcare Pty Ltd in the transaction, said the sale was significant because private hospitals are such tightly held assets.  
“They rarely come onto the market, and when they do, they are often sold in off-market transactions,” he said.  
“There is high demand amongst buyers for these types of assets because Australia’s healthcare sector is such a solid and desirable sector for investors to be in. Asian REITs have also demonstrated an appetite for these assets.  
Mr Nicholson said that while private hospitals were generally sought after, the Westmead Rehabilitation Hospital was considered to be a particularly good asset because it is “one of New South Wales’ finest specialist rehabilitation hospitals”.  
Mr Nicholson said part of the sale had involved unwinding the existing leasing arrangements, which was negotiated over the past couple of months.  
“A new lease arrangement between publicly listed companies Pulse Health and Generation REIT has now been signed, resulting in the sale of the freehold interest of the property for $29.86 million, which represented a yield of 8.75 per cent to our client, St Andrew’s Healthcare Pty Ltd,” he said.  
Mr Nicholson said given the demand amongst buyers for private hospitals in Australia, the sale was a big win for both Generation REIT and Pulse Health.  
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Sydney’s Westmead Rehabilitation Hospital sells for $30 million reflecting 8.75% yield

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Eight Colliers International agents have raised $17,400 for Oxfam to help fight global poverty by braving the elements and going without sleep for 28 hours.  
The agents, Jeremy Gruzewski, Ben Baines, Hamish Burgess, Andrew Ryan, Rob Joyes, Ted Dwyer, Leigh Melbourne and Tony Landrigan, formed two teams to participate in the <a target="_blank" href="https://trailwalker.oxfam.org.au/">Oxfam Trailwalker Challenge</a> last weekend.
<img src="/images/stories/2013/04/oxfamapril24one.jpg" width="470" height="352" alt="oxfamapril24one">
Oxfam Trailwalker began in 1981 as a military training exercise for the elite Queen's Gurkha Signals Regiment in Hong Kong. It has since grown into one of the world's leading team endurance challenges, with 15 events in 11 countries.
The event launched in Australia in 1999, with Melbourne joining in 2003 and steadily growing each year since.
According to Oxfam, the 2013 Melbourne event comprised 3,024 walkers and, to date, has raised almost $2.3 million to aid in fighting poverty around the world.  
This year’s Melbourne challenge saw 750 teams walk 100km from Wheelers Hill through the Dandenong Ranges National Park to Wesburn from April 19-21.  
The Colliers International participants walked through the night, with no sleep, through seven checkpoints to complete the trail.  
Mr Gruzewski said each team had set a fundraising target of $5,000, which had been easily exceeded.  
“We’ve been blown away by people’s generosity – we’ve well exceeded our original fundraising goal and it’s a huge thrill to know that all the pain, exhaustion and blisters were worth it,” Mr Gruzewski said.  
“Oxfam do great work across the world to fight poverty, and we’re so glad the physical challenge we embarked upon will contribute, even in small way, to this very worthy cause.”  
Since November, the eight agents have endured blisters, chafing, sore legs, and shed lots of sweat in order to adequately prepare for the challenge.  
“It was a grueling challenge, which tested us not only physically but mentally and emotionally as well. We were pushed to our limits, but every step was worth it to know that we have been able to help Oxfam in their ongoing fight against poverty,” he said.
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Colliers staff join Oxfam Trailwalker effort

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The developers of the $2 billion Central Park mixed-used residential project in Chippendale have signed an historic agreement for a new green energy infrastructure aimed at greatly reducing carbon emissions. 
<a href="https://www.propertyobserver.com.au/retail/central-park-s-retail-precinct-set-to-launch-this-spring/2013032659989" target="_blank">Central Park</a> is a joint venture project between Frasers Property and Sekisui House Australia. It is being developed on 5.8 hectares of land that was formerly the Carlton &amp; United Breweries (CUB) site on Broadway.
Construction has commenced on the energy plant, which is touted as being about twice as efficient as a coal-fired power plant. 
It follows a $26.5 million Environment Upgrade Agreement (EUA) with the City of Sydney, <a target="_blank" href="companies/frasers-property-australia">Frasers Property</a>, and Eureka Funds Management.
{qtube vid:=4yw9Gt7rD1E}
This is the only the second such agreement to be signed in NSW, and the City of Sydney’s first EUA. 
The trigeneration plant could reduce greenhouse gas emissions by 190,000 tonnes over the 25-year life of the plant, according to estimates from environment consultants WSP group. 
This has the same effect on combating greenhouse gas emissions as removing 2,500 cars from the roads every year for 25 years. 
The plant will run on gas and produce low-carbon thermal energy, providing heating and cooling for the 3,000 residences planned for Central Park and 65,000 square metres of retail and commercial space across 14 buildings in the development. 
Electricity produced by the plant also has the potential to be exported to neighbouring buildings offsite. 
Trigeneration is the simultaneous production of three forms of energy: electricity, heating and cooling. 
A trigeneration system can provide power, hot water, space heating and air conditioning from a single system. It captures heat otherwise lost when generators create electricity, and uses it to generate both hot and cold water. 
The hot water in turn generates an absorption chiller, which operates like a refrigerator. The chiller then creates water at a sufficiently low temperature to be used for air-conditioning. 
When completed, the development will consist of around 2,100 apartments across seven residential towers, student housing, and 50,000 square metres of commercial office space across two towers. 
An additional 20,000 square metres of retail facilities have also been planned, as well as the restoration of 33 heritage buildings. 
A 6,400-square-metre public park will also be part of the development. 
Central Park will be completed in stages, from May 2013 to 2018. 
The energy plant will be completed and commissioned by December 2013. It will be housed in a multi-level subterranean bunker, which is part of the existing historic Brewery Yard building. 
Frasers Property and Sekisui House are currently seeking expressions of interest for an owner/operator of the trigeneration plant, with the owner/operator to be in place prior to the commissioning of the plant in late 2013.
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Sydney’s Central Park residents to get energy efficient heating and cooling system

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Global commercial real estate group Jones Lang LaSalle has reported a big increase in productivity one year after moving to an activity-based working (ABW) environment in its Sydney CBD office at 420 George Street.
Nearly three-quarters (71%) of employees agreed that the new work model increased overall productivity, a <a target="_blank" href="companies/jones-lang-lasalle">Jones Lang LaSalle</a> survey of employees found. By comparison, only 24% of surveyed employees found the previous work environment increased their productivity.
ABW does away with a personal workspace for each employee, while providing different spaces for various work functions, including collaboration, learning, focusing, and socialising.
<img src="/images/stories/2013/03/jllmarch20five.jpg" width="470" height="370" alt="jllmarch20five">
It has become an increasingly popular option, with the GPT Group, <a target="_blank" href="https://www.propertyobserver.com.au/trends/cbre-embraces-flexible-working-space-in-sydney-office/2013031259832?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=trends">CBRE</a> and KPMG adopting the new model in their offices.
A Colliers International 2012 Office Tenant Survey also revealed that one in three organisations have implemented or are planning to implement ABW.
Jones Lang LaSalle uses an in-house designed ‘WorkSmart’ workplace model, which uses non-assigned desks to create multiple work settings. These include focus desks, ‘hush’ or quiet rooms, discussion pods and ‘touch and go’ areas for employees who go into the office for short periods.
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Australian head of corporate consulting and tenant representation, Tony Wyllie said the low productivity scores before the move to ABW and the high scores following the move demonstrate the value of ABW environments to business operations. 
<img alt="jllmarch20three" height="316" width="470" src="/images/stories/2013/03/jllmarch20three.jpg"> 
“We have seen a number of organisations go down the path of ABW. The organisational benefits of productivity improvements, talent attraction and retention and brand differentiation, as well as the real estate benefits of increased flexibility, improved utilisation and cost efficiency over the long-term are some of the main drivers of this trend,” Wyllie said. 
A 2011 Colliers International White Paper on Activity Based Workplaces found that the trend towards adopting ABWs comes at the same time as companies re-evaluate the utilisation of their real estate assets.
It also found that ABW may be able to reduce the total floor space occupied by an organisation. As a result, companies have found savings of up to 30% from rent and outgoing costs.
<img src="/images/stories/2013/03/jllmarch20four.jpg" width="470" height="306" alt="jllmarch20four">
The white paper did raise some concerns with employees reporting the the ABW work model focused on the financials of the business, and may lead to a “perceived decrease of humanisation in the organisation.”
Rajiv Nagrath, director of corporate solutions at Jones Lang LaSalle, said its employee survey was a massive endorsement of its new range of workspace areas.
“One of the comments we received from the survey talked about the increased flexibility for the working week and how people are utilising different settings day-by-day depending on the work they need to complete,” he said.
Nagrath said the next evolution for Jones Lang LaSalle was to incorporate some of the feedback from the survey into new features for the WorkSmart concept.
These include the possibility of new technologies to complement their workspace, going beyond the current laptop and wireless environment.
“Facilities for Skype and virtual phones were seen as the next evolution,” Nagrath said.
 
 
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Jones Lang LaSalle reports big jump in productivity following move to activity-based working model

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The Insolvency and Trustee Service Australia has released a postcode-based insolvency <a target="_blank" href="https://www.itsa.gov.au/resources/statistics/personal-insolvency-activity-by-postcode-1/personal-insolvency-activity-by-postcode-2011-12/personal-insolvency-activity-by-postcode-2011-12-1">report</a>, revealing that Cranbourne recorded the highest number of bankruptcies in Victoria in the last financial year.  
According to the report, <a target="_blank" href="https://www.propertyobserver.com.au/victoria/victorian-bankruptcies-down-66-with-cranbourne-harbouring-the-most-bankrupts/2013050160936?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news">108 Cranbourne residents were declared bankrupt in 2011-2012</a>, up by 10.2% from the previous financial year, where 98 residents were declared bankrupt.  
An additional 51 <a target="_blank" href="https://www.urban.com.au/property-observer">Cranbourne</a> residents entered into a debt agreement to repay over an agreed period, up from 42 residents in the previous financial year.  
The median sale price for houses in Cranbourne currently stands at $310,000, down by 4.6% on last year. The average discount required to sell a house in Cranbourne is 7.6%, while private treaty sales average 75 days on market, according to the latest RP Data report.  
The median asking rent for houses in Cranbourne is $300 a week, while rental yield averages at 5.0%.  
The median sale price for units in Cranbourne is $240,000, down by 5.9% on last year. The average discount required to sell a unit in Cranbourne is 10.8%, while units spend an average of 138 days on the market.  
The median asking rent for units in Cranbourne is $258 a week, and the average rental yield is 5.6%.  
Located 43km southwest of the Melbourne CBD, Cranbourne has a population of 67,424.  
Australian Bureau of Statistics (ABS) data shows the median age of Cranbourne residents is 32 years. Children under 15 years of age made up 23.7% of the population, indicating Cranbourne is home to a number of young families.  
According to the 2011 Census, the median weekly income of residents in Cranbourne is $1297, while the median monthly home loan repayment is $1777.  
Of occupied dwellings in Cranbourne, 19.8% were owned outright, 56.1% were owned with a mortgage, and 20.7% were rented.  
51% of occupied private dwellings in the Cranbourne area have three bedrooms, while 37.9% of dwellings have four bedrooms or more. 0.1% of dwellings have one bedroom, and two-bedroom dwellings make up 8.5% of the total number of occupied dwellings.  
The 2011 Census also showed that the most common occupations in the Cranbourne area include technicians and trades workers (17.8%), clerical and administrative workers (16%), labourers (12.1%), machinery operators and drivers (11.6%), and professionals (11.4%).
Properties that have recently been sold in Cranbourne include:  
<a target="_blank" href="https://www.realestate.com.au/property-house-vic-cranbourne-113023615">26 Clairmont Avenue</a>, sold on 28 February this year for $282,000 by Ray White Cranbourne. The three-bedroom house previously sold for $195,000 in 2006 according to RP Data records.  
<a target="_blank" href="https://www.realestate.com.au/property-house-vic-cranbourne-112765171">2 Galway Place</a>, sold in January this year for $392,500. The four-bedroom house (pictured below) was listed in October last year for $399,000 for 87 days, and in August 2011 for $400,000-$429,000 for 196 days according to RP Data records.
<img height="320" width="470" src="/images/stories/2013/04/cranbournemay1one.jpg" alt="cranbournemay1one">
<a target="_blank" href="https://www.realestate.com.au/property-house-vic-cranbourne-111236303">3 Harry Street</a>, sold on 22 November last year for $293,000. The three-bedroom house previously sold for $285,000 in 2010 according to RP Data records.  
<a target="_blank" href="https://www.realestate.com.au/property-house-vic-cranbourne-112085075">15 Jaye Place</a>, sold November last year for $325,600. The three-bedroom house previously sold for $295,000 in 2009 according to RP Data records.  
<a target="_blank" href="https://www.realestate.com.au/property-house-vic-cranbourne-111732511">65 Fairhaven Boulevard</a>, sold October last year for $347,000. The three-bedroom house (pictured below) was listed in September last year for $349,000 for 34 days, and in 2007 for $279,950 for 15 days according to RP Data records.
<img height="332" width="470" src="/images/stories/2013/04/cranbournemay1two.jpg" alt="cranbournemay1two">
<a target="_blank" href="https://www.realestate.com.au/property-house-vic-cranbourne-110970615">53 Jacinta Drive</a>, sold October last year for $300,000. The three-bedroom house was listed in July last year for $304,950 for 128 days, and in 2010 for the same price, according to RP Data records.
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Cranbourne tops Victorian bankruptcies in last financial year

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Annadale, a new housing development in Mickleham, Victoria has embraced the parklands bandwagon.
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Located on the site of Jika farm known for its Clydesdale horse breeding and bed-and-breakfast operation at 495 Donnybrook Road, the Annadale project (pictured above and below) will consist of 1,100 new homes built among a lush woodland environment, with the Mount Ridley Woodlands incorporated into the development.
Two parks have been planned.
The <a target="_blank" href="https://annadale.com.au/">Annadale</a> master plan has been designed to embrace the landscape with walking and cycle paths part of the development’s design, along with nature trails that lead into the Woodlands.
<img alt="annadaleapril23two" height="316" width="470" src="/images/stories/2013/04/annadaleapril23two.jpg">
In addition to its proximity to parklands, Annadale is also close to existing schools and community facilities. Non-government schools and other sporting facilities are also part of the master plan.
Evolve Development is the developer for Annadale with land prices starting from $99,000.
Mickleham is 32 kilometres north of Melbourne’s CBD. Property Observer reported <a target="_blank" href="https://www.propertyobserver.com.au/land/where-to-find-blocks-of-land-around-melbourne-for-under-%24200000/2012082256169">last year</a> that Mickleham is one of eight suburbs in Melbourne where land can be purchased for under $200,000.
Inner city residential development projects offering parkland views have also become a catching trend enveloping Melbourne, as noted in a report by buyer’s advocate Secret Agent.
The report, which surveyed 30 suburbs in inner Melbourne, found that parkland properties in general fetch stronger prices, Property Observer <a href="https://www.propertyobserver.com.au/residential/properties-with-direct-parkland-views-fetch-higher-house-prices-secret-agent/2013040860186" target="_blank">reported</a> earlier this month.
Conversely, properties that are close to parks but don't have a view do not perform as well as those with a direct view.
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Developments with parklands evolving across Melbourne

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A three-bedroom Werrington brick house was last weekend’s cheapest auction sale in New South Wales, selling for $300,000 according to Australian Property Monitors.
Located at 20 Dunkley Place, the house sits on a 562 square metre block of land and features a large backyard.
<a target="_blank" href="https://www.realestateview.com.au/Real-Estate/20-dunkley-place-werrington/Property-Details-sold-residential-5234711">The property </a>sold for $10,000 over the reserve price, which was set at $290,000. It last sold for $19,750 in 1991 according to RP Data records.
Its listing agent Paul Abassi of Laing+Simmons St Marys/Ropes Crossing told Property Observer there were seven registered bidders present at the auction, most of whom were potential investors.
“The successful bidder was an investor,” he said.
Based on Laing+Simmons’ estimated $360 rental per week, the price reflected a likely rental yield of 6.24%, slightly higher than the average rental yield in Werrington which currently stands at 5.5% according to RP Data.
Abassi added that the market in Werrington is “pretty strong”. While the area is populated by “older people”, he told Property Observer that new homes are coming up, and younger families are “buying and renovating”.
According to the latest report by RP Data, the <a target="_blank" href="https://www.urban.com.au/property-observer">median sale price for houses in Werrington</a> is $335,000, up 2.5%% on last year. The average discount required to sell a house is 4.2%, while private treaty sales average 67 days on market.
Other houses currently on sale on Werrington include: 70 Reid Street, listed for $379,000 by JLB Real Estate Werrington, and 205 Victoria Street, listed for $509,950 by LJ Hooker St Marys.
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Diane Leow

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