📈 Today's Commercial Property & SMSF News
Greens Criticise New Div 296 Super Bill as Less Ambitious
A representative for the Greens, Nick McKim, who focuses on economic justice and treasury matters, indicated in a radio interview that while the party is still reviewing the latest version of the Div 296 superannuation bill, their initial impression is that it lacks the original scope or intent. The legislation was only recently introduced in parliament, and the Greens are yet to establish their definitive stance on its provisions. This commentary highlights potential political debate surrounding the proposed changes to superannuation rules.
Source: www.smsfadviser.com
Experts Clarify TSB Calculation Changes in Div 296 Super Legislation
Tim Miller, an expert in SMSF technical and educational matters at Smarter SMSF, has shed light on key adjustments within the proposed Div 296 legislation concerning the Total Superannuation Balance (TSB). He noted that the new rules will differentiate the TSB from the transfer balance cap, leading to the exclusion of specific components, such as limited recourse borrowing arrangements, from the TSB computation. This modification is intended to provide a more precise reflection of an individual's superannuation assets by removing certain debt-related figures from the balance calculation.
Source: www.smsfadviser.com
New Research Reveals Key Areas Homebuyers Prioritise During Property Viewings
A recent analysis of over 12 million digital property inspections by Little Hinges challenges conventional wisdom regarding what prospective buyers prioritise when viewing homes. The report indicates that buyers don't necessarily focus on common features like the number of bedrooms or bathrooms. Instead, the data suggests that individuals explore properties in a manner that mirrors how they would actually inhabit the space, frequently revisiting certain areas. This insight, derived from extensive digital engagement, highlights a shift from traditional, linear property walkthroughs to a more organic and detailed examination of specific living zones.
Source: www.news.com.au
St Kilda's Prince of Wales Hotel Undergoes Major Renovation Following $28 Million Acquisition
The iconic Prince of Wales Hotel in St Kilda is set for a substantial refurbishment, with its leaseholder, Australian Venue Co, investing millions into the establishment. The extensive upgrade includes the addition of a rooftop bar and a complete redesign of the internal layout to enhance the patron experience. This significant development follows the quiet acquisition of the hotel's freehold last year for $28.85 million by Grant Cohen, an heir to the Godfreys vacuum cleaner fortune. The purchase price is noted as a favourable deal, especially when compared to other recent high-profile hotel transactions in the area.
Source: www.smh.com.au
ASX Leadership Change Amidst Ongoing Tech Woes and Reputational Damage
The chief executive of the Australian Securities Exchange (ASX), Helen Lofthouse, is stepping down from her role. This departure coincides with the impending launch of the first phase of the ASX's new automated system for settling share trades. Her tenure has been marked by a decade of significant technology failures, system outages, and substantial financial losses, which have collectively undermined the organization's reputation and investor confidence. The circumstances surrounding her exit have also attracted considerable attention.
Source: www.abc.net.au
Cost of Living Crisis Forces Young Women to Cut Essential Spending
Recent studies indicate a growing trend among young Australian women to forgo essential needs, such as adequate nutrition and healthcare, in an effort to cope with escalating living expenses. The high cost of rent is identified as a primary contributor to these financial struggles, compelling many to seek out discounted goods and make significant sacrifices in their daily lives to balance their budgets. This highlights the severe impact of current economic pressures on household financial stability.
Source: www.abc.net.au
Consumers Demand Origin Labels for Imported Timber Amidst Rising Demand
There is a strong public desire for mandatory country-of-origin labelling on timber products sold in Australia, as the nation experiences unprecedented levels of wood imports. Following a post-pandemic surge in demand for building materials, a recent survey by consumer advocacy group Choice revealed that nearly all respondents want clear information regarding the source and ethical production methods of timber, driven by environmental and social responsibility considerations. This sentiment reflects a growing demand for transparency in the construction material supply chain.
Source: www.abc.net.au
📊 Yesterday's Key Developments
Victoria Unveils Housing Rezoning Plans Near Transport Hubs
The Victorian government has released initial proposals outlining potential building heights and development boundaries for residential properties situated close to key public transport routes across Melbourne. These draft plans, encompassing 23 specific locations designated as 'train and tram zone activity centres,' are now open for public consultation. This initiative forms a critical part of a wider strategy targeting 50 such hubs, with the ambitious goal of facilitating the construction of over 300,000 new residences by 2051. The objective is to enhance housing availability in areas well-connected to public transport, employment opportunities, and essential services, covering suburbs such as Toorak, Malvern, and Prahran.
Source: www.realestate.com.au
Zagame Family Lists Lavish Sorrento Estate with Private Beach Boxes
Antoinette Zagame, the head of the prominent Melbourne family known for its extensive hospitality ventures, has listed her luxurious coastal retreat in Sorrento for sale. This significant property, which comes with rare private bathing boxes on its grounds, is being offered with an asking price between $7.3 million and $8 million. There's also a possibility for the sale to include an adjacent family-owned residence, potentially expanding it into a multi-million dollar compound. The Zagame family built a substantial hotel and pub business, and this listing represents a notable transaction in the high-end real estate market. The estate itself is locally referred to as Tower House.
Source: www.realestate.com.au
Brisbane Century-Old Cottage Hits Market for First Time
A historic three-bedroom cottage located at 16 Lechmere St, New Farm, Brisbane, is being offered for sale for the first time in a century. The property has remained under continuous family ownership since the land was acquired in 1916, with the house constructed in 1923. Situated on a 425sq m block in one of Brisbane's most sought-after inner-city suburbs, this long-held residence represents a rare opportunity in the current market. The home is scheduled for auction on February 27.
Source: www.realestate.com.au
Gold Coast Luxury Tower Achieves $300M in Pre-Public Sales
The upcoming 51-storey Sandpiper Broadbeach development on the Gold Coast has secured over $300 million in sales reservations, even before its public launch. The Polycell Group project, offering 204 luxury beachfront residences ranging from two to four bedrooms, saw nearly half of its units reserved through a private campaign targeting existing clients. With demolition currently underway, construction for the high-rise is slated to commence in July, catering to a market of downsizers, interstate lifestyle buyers, and investors seeking holiday accommodations.
Source: www.realestate.com.au
Major Oceanfront Land Parcel in Hallett Cove Offered for Residential Development
The prominent Roche family is divesting a significant 12-hectare oceanfront landholding at Hallett Cove, South Australia, marking a notable property sale. This expansive site comes with existing approvals for 169 individual residential allotments, varying in size, along with provisions for two larger 'super lots' suitable for higher-density housing projects and public open spaces. Positioned at the southern tip of Hallett Cove, the elevated parcel is being marketed as an exceptional and rare residential development prospect in the Adelaide region, reflecting the family's ongoing strategy of asset divestment.
Source: www.realestate.com.au
Australian Appliance Maker Breville Adapts to Global Trade Headwinds
Australian appliance company Breville, a significant player in the global market and a former investor favourite, has been compelled to re-evaluate its operational model following the imposition of US tariffs. With its primary export market being the United States and a substantial portion of its manufacturing based in China, the company faced considerable challenges from these trade barriers. This situation has also contributed to Breville becoming one of the most heavily shorted stocks on the Australian exchange, indicating significant market speculation against its share price, a trend that analysts have also flagged with concerns. The company's response involved strategic adjustments to manage these external economic pressures.
Source: www.smh.com.au
Retailer Barbeques Galore Faces Insolvency Amid Liquidity Crisis
Australian retail chain Barbeques Galore has entered voluntary administration and receivership due to severe cash flow issues, placing approximately 500 employee positions in jeopardy. The company's directors appointed Grant Thornton representatives to oversee the restructuring process and explore potential solutions for the struggling business, which operates nearly 100 outlets. Despite previous efforts by management to revitalise the brand, persistent liquidity problems ultimately necessitated this corporate restructuring. Customers holding gift cards are advised that these may now require additional purchases to be redeemed.
Source: www.theage.com.au
Australian Share Market Pulls Back from Record Peak
The Australian stock market experienced a slight decline after briefly reaching unprecedented levels. This downturn was influenced by a mixed bag of corporate earnings reports, where strong performances from major companies were offset by disappointing results from smaller firms. The market's initial optimism faded as investors digested these varied financial outcomes.
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Major Over-50s Lifestyle Resort Development Approved in Perth
A significant new lifestyle resort project targeting residents over 50 has received official approval from a development assessment panel. Located in the northern Perth metropolitan area, the ambitious multi-stage development has an estimated total value of $300 million, with the initial phase alone slated for a $70 million investment. This approval paves the way for a substantial expansion in specialized residential offerings for seniors.
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Published: Friday 13 February 2026 | Fresh Articles: 36 | Sections: 16 | RunID: 2026-02-13T08:21:45+11:00
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