UPDATE 1-DevSecs continues push into prime residential

LONDON, June 24 (Reuters) – UK property company Development Securities (DSC.L) said on Thursday it has acquired a mixed-use central London property with partner Caenwood Ventures as part of a strategy to widen its portfolio to residential properties.

It bought the 30 office, 29 residential flats and four retail unit building at Westminster Palace Gardens, Victoria, for 10.1 million pounds ($15.1 million), reflecting a net initial yield of 6.77 percent.

Development Securities and Caenwood, along with residential development manager Alchemi Group, plan to convert the remaining offices to apartments, taking advantage of the rising prime central London residential market.

The company has a strategy of widening its trading portfolio to include residential, a market it has not traditionally traded in.

Westminster Palace Gardens was built for residential use. (Reporting by Andrew Macdonald; Editing by Mike Nesbit) ($1=.6677 pounds)

Sydney Harbour gets new, tiny, suburb

(Reuters Life!) – Sydney’s harbourside suburbs boast some of the country’s most expensive properties — and now there’s a new suburb to add to the list.

Lifestyle

Sitting on one of the most picturesque vantage points on Sydney Harbour, with views of the Sydney Opera House, is the new suburb of Kurraba Point.

The geographical Kurraba Point has always jutted into the harbour, but until now it has not been recognized as a suburb, merely a locality.

Kurraba Point is a small area comprising of 950 residences and its name derives from the Aboriginal name for the point of land on which it lies, between Neutral Bay and Shell Cove.

The Geographical Names Board agreed this week to the new suburb name after lobbying by a local government and residents.

“New suburbs are created from time to time due to reasons ranging from residential development to the desire to have a distinct identity, as in this case,” New South Wales state Lands Minister Tony Kelly said in a statement.

Seven new suburbs have been created in Sydney since early 2009, including Sydney Olympic Park in western Sydney. (Reporting by Michael Perry; Editing by )

Residents petition against units plan

Nearly 300 Guyra residents have signed a petition opposing a new residential development.

Developer Delfmont is proposing to build 22 free-standing units on a 1.2 hectare block in Stevenson Street.

In objection letters to Guyra Shire Council, locals have raised concerns about social problems triggered by high-density housing.

There are also concerns about increased noise and traffic, and plummeting house prices.

General manager David Cushway says the matters raised will be considered

“The council has resolved to defer the matter while further negotiations take place with the developer,” he said.

Police have reviewed the plans and proposed a number of crime prevention strategies such as security lighting, alarm systems and open-style fences.

Go ahead for Molonglo housing

Plans for the first housing development to be built in Canberra’s Molonglo Valley have been given the green light.

An estate of 98 homes and one multi-unit block will be built in North Weston.

ACT Planning and Land Authority (ACTPLA) chief executive Neil Savery says the new suburb’s neighbours want the development to happen quickly.

“The Orana School and the Bahai religious facility were keen to ensure that development occurs rather quickly and minimises disturbance to those land users,” he said.

“And the Government is keen to ensure that there are adequate supplies of land on the market for people to buy for residential development.”

Mr Savery says it is important the suburb is linked to the more established surrounding suburbs.

“North Weston actually sits as a wedge between what one might consider the whole new suburb of Molonglo Valley,” he said.

“There was a need to ensure an appropriate level of integration particularly from a point of view of road design.”

Palmview housing plan gets $11.5m boost

The Sunshine Coast Regional Council has secured Commonwealth funding for a new housing development.

The Federal Government allocated $50 million for eight affordable housing projects, with the Sunshine Coast council getting $11.5 million for the Palmview residential development.

Councillor Anna Grosskreutz says the funding is proof of the importance of working cooperatively with the other levels of government.

“I travelled to Brisbane to meet with the federal Minister one day to personally deliver a plea and a letter from my housing task force,” she said.

“I also went to see Minister Hinchliffe and the coordinator-general with a personal letter as well in support of our application, so I think if you are willing to do the hard yards and work cooperatively you can deliver some results.

The Palmview project has received the biggest share of eight affordable housing projects across Australia.

“It’s great for the Sunshine Coast. People have long lamented the fact that we weren’t being supported by state and federal governments and this is proof that if we can work cooperatively with these governments we can receive such a large amount of funding for infrastructure,” Cr Grosskreutz said.

Ararat plans housing expansion

The Ararat Rural City Shire is opening up almost 11 hectares of land to residential development.

The subdivision will create 76 new housing lots off the Western Highway in Ararat’s north-west.

Mayor Gwenda Allgood says 3,000 people are expected to move to the region before 2031.

She says the shire assesses about 60 planning applications per year.

“We’re very excited about this. It’s going to actually be released in stages, it’s not going to be all coming onto the market at one particular time,” councillor Allgood said.

“But it’s a great area out there, it’s very peaceful, very close to mountain ranges and very close to the Chalambar Golf Course.”

Pollution plan looks to end 40yr debate

The Western Australian Government has released its air quality and noise management plan for Port Hedland.

The strategy calls for a reduction in emissions by industry, better planning residential development locations and privately-funded, ongoing air monitoring programs.

The plan fulfils a Government election promise to try and resolve a 40 year debate between residents and industry over pollution and noise levels.

The Parliamentary Secretary for State Development, Bill Marmion, says the plan will make the town a more attractive place to live and invest.

“One of the main problems has been the uncertainly in terms of developments pushing ahead,” he said.

“There’ll now be certainty for people to invest money and so hopefully they can develop nice apartment-style living with ocean views.”

Push on for Palmview changes

Sunshine Coast politicians will push for changes to a major residential development at Palmview when they meet the State Planning Minister in Brisbane today.

The LNP’s Kawana MP Jarrod Bleijie, councillor Christian Dickson and the Sippy Downs District Community Association will attend this afternoon’s meeting.

Mr Bleijie says one of the changes he is seeking is access from the housing community to the Bruce Highway.

“The community have been crying out for 12 months for council or the state to listen to them with a couple of issues,” he said.

“One is the destructive greenlink or buslink that will divide the existing Sippy Downs community into two and also the fact that 14,000 people minimum for this Palmview development will have no way to access the highway. Therefore all traffic will be going through the existing Sippy Downs community which is unacceptable.”

Disappointment over Smiths Beach development

The Smiths Beach Action Group says it feels let down by the Environment Minister who has upheld an appeal by Canal Rocks over the Smiths Beach Development near Yallingup.

Donna Faragher has given the green light for a smaller development which was agreed through mediation in the State Administrative Tribunal.

Laurie Schlueter, from the Smiths Beach Action Group, says Ms Faragher had an ideal opportunity to reduce the height of the development.

He says after 10 years of fighting the development, it is now in the hands of the higher authorities.

“In all honesty, I think it’s beyond us now. It’s in the hands of the WA Planning Commission and in the hands of the Minister who’s let us down.”

“It’s at that sort of level now. It’s beyond the level where people can get out and protest.”

Ms Faragher approved the revised development plan for Smiths Beach yesterday.

The Environmental Protection Authority considered the scale of the original tourism and residential development proposal to be environmentally unacceptable and proposed a smaller area be developed.

Ms Faragher says the development will now be restricted to the eastern side of the site with the Leeuwin-Naturaliste National Park extended to the western side.

Final approval will come from relevant planning authorities.

Hinchliffe rejects sustainability criticism

Queensland’s Planning Minister has rejected suggestions the State Government is obstructing the Sunshine Coast Regional Council’s plan to make the region Australia’s most sustainable.

The council says the Government has scrapped sustainability features it put forward for the new Palmview residential development and for future housing in Maroochydore.

A local environment group says the Government is being obstructive and has shown its “true colours” on the issue of sustainable development.

Minister Stirling Hinchliffe says the Government is helping the council achieve its goal because the Building Act already includes a range of energy efficiency and sustainability provisions.

“I believe what we have in terms of our very high standards around five star energy efficiency requirements now, and moving towards six star as a State Government, that we’re helping facilitate that,” he said.

CASA-Bella, first phase of the largest and most ambitious project by Lodha

Mumbai, Mar 20 (ANI/Business Wire India): CASA BELLA, the largest and most ambitious integrated township project in Dombivali, is launched by the Lodha Group, India’s premier luxury real estate developers.

Catering to the aspirational needs of the Indian middle class, the township will be spread over 125 acres of land and CASA Bella will be built over approximately 40 acres of land as an integrated residential township with 3500 residences under the first phase of development.

The residential development will comprise of 11 clusters. CASA BELLA is planned with over 86 per cent of open space.

The residences will be available in 1, 2 and 3 BHK luxury. The apartments will be priced at 11.7 lac onwards for a 1 BHK, 14.9 lac onwards for a 2 BHK and 24.3 lac onwards for 3 BHK.

CASA, a sub brand of Lodha group has already made a mark for itself by selling over 1000 units under its multiple offerings, CASA Univis, Royale and Ultima within a couple of months.

The focus of CASA brands is to provide optimal and best value by providing luxury living for middle income segment which has been unheard of. Gated communities, open spaces, parks, club, gym are just some of the initiatives to mention that have been provided through the brand CASA.

Commenting on the launch of CASA Bella, Abhisheck Lodha, Director odha Group, said, “CASA Bella will bring combination of the quality, luxury and value to Dombivali. It will change the skyline of Dombivli and redefine the standards of living of its residents. It will be a mini city with all conveniences and utilities one can imagine all available within an integrated residential township. Project in Dombivali is the largest initiative by the Lodha group and will see planned development of 9000 acres. The township will be a complete self sustaining eco-system with a residential and commercial hub and world class amenities and infrastructure.”

‘CASA Bella – the city of dreams’ is the largest ever development project taken up in Dombivali and several major initiatives taken around the project will make Dombivali the destination to be in. Located in Dombivali, on the 4-lane Kalyan Shil Road, CASA Bella is only 25 minutes drive from Thane and 15 minutes from Navi Mumbai, 6kms from Dombivli station and around 20 minutes drive from the proposed location of the new international airport.

The Usarghar station is located within the site which provides regular train service on the Central Line through connectivity to Diva Station on the Diva-Panvel line. In the future, it is proposed that the station will have direct connectivity upto VT.

R. Karthik, Senior Vice President-Marketing, Lodha Group said, “CASA Bella employs the expertise of the world’s best architects, designers and engineers to create lavishly proportioned homes of unparalleled comfort and lifestyle for all its residents within its universe. With state-of-the art medical facility, power supply for 24 hours, security systems with cutting edge technology, transportation facilities, Mumbai’s largest clubhouse spread over 50,000 sq. ft, retail mall with multiplex and school, the project in Dombivali will stand unrivaled in value it delivers and create an entirely new category of luxury homes within easy reach of the aspiring India.”

According to Kapadia, Director, Kapadia Associates, “CASA BELLA is a self contained, Integrated and a Lifestyle oriented township where people will feel proud to live in. It aims to be the most sought after property in the vicinity with excellent connectivity, concentration on social infrastructure, max utilization of space in a unique manner and contemporary architectural language to establish an identity for the project. The master plan has laid emphasis on open spaces, green clusters, recreational facilities and pedestrian friendly development with major amenities being located within a 7-10 min walking distance from the residential units”.

The vision of Lodha group is to create an iconic urban development in Dombivali which will provide its residents all the comforts at their fingertips. From playschool to international universities, medical centres to multi specialty hospitals, gardens to golf courses, small business offices to SEZ’s this development will have it all. (ANI)