Childcare to join $50m housing project linked to James Packer
The planned childcare centre in the northern Geelong suburb of Corio is expected to attract significant interest from childcare operators looking to get a foothold in one of Australia's fastest growing regional cities.
The centre is positioned in the heart of the Edenville residential estate being developed by Sivasli Group and will be located at 26-34 Sharland Rd which is at the entrance to the estate.
Corio is expected to see a significant ramp-up in residential development.
Global second-hand fashion fave eyes big entry to Geelong
Melbourne developer Deniz Sivasli's Edenville group is behind the project, backed by a consortium that includes former casino mogul James Packer and investment guru Joe Gersh.
Sivasli Group is also planning a 282-home residential estate on the former Flinders Peak Secondary College site in Hendy St, while Cedar Woods Properties has a 400-lot estate on the drawing board after a $35m purchase in January of an 18.6ha Plantation Rd property.
The childcare development is designed by Architecton and will accommodate 124 childcare places and feature a bespoke fit-out for the incoming early learning provider across 1771sq m of building area.
CBRE's Australian Healthcare and Social Infrastructure team of Sandro Peluso, Jimmy Tat and Marcello Caspani-Muto are managing the expressions of interest leasing campaign.
Mr Tat said childcare centres located within residential estates tend to have outstanding occupancy rates because of increased visibility and accessibility for families.
'What truly sets Corio apart is the absence of other childcare development applications within the catchment area, making it a unique and highly attractive option for operators,' Mr Tat said.
'With over 1100 children expected to be born and move into the area over the next five years, we anticipate the demand-to-supply ratio will reach 4.3:1 – a level that is widely considered very favourable for operators.'
Mr Peluso said opportunities to develop childcare centres within residential estates were rare.
'Given the highly favourable demographics and strong demand in Corio, the vendor has decided to pursue a childcare development,' Mr Peluso said.
'We expect significant interest from established local childcare providers as well as new entrants looking to break into the suburb, given the robust demand and limited competition in the area.'
The Edenville estate, which will deliver 107 new homes on the site of the former Rosewall Primary School, had a difficult journey to approval at Victoria's planning umpire with Geelong's council labelling it a 'significant overdevelopment'.
The expressions of interest lease campaign will close late July.
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ABC News
9 minutes ago
- ABC News
China has reasons beyond the climate to turn into the world's first electrostate
The superpower is dominating the global clean technology sector. It's not all about climate change. 中文版 In April this year, China installed more solar power than Australia has in all its history. In one month. This isn't a story about Australia's poor track record on solar either, Australia is a global leader. Rather, this shows the astonishing rate at which China is embracing renewable technologies across every aspect of its society. But don't be mistaken by thinking this transformation is driven by a moral obligation to act on climate change. China's reasons for this are less about arresting rising temperatures than its desire to stop relying on imported fossil fuels and to fix the pollution caused by them. The superpower has put its economic might and willpower behind renewable technologies, and by doing so, is accelerating the end of the fossil fuel era and bringing about the age of the electro-state. "The whole modern industrial economy is built around fossil fuels. Now the whole world is moving away from that and that means that we are rebuilding our economy around emerging clean tech sectors," said Muyi Yang, the lead China analyst at energy thinktank, Ember. "Once the new direction is set, the momentum will become self-sustaining. It will make reversal impossible. I think China now has set its direction towards a clean energy future. "Can you imagine that the Chinese government will say that, oh, we will go back to fossil car, not the electric cars? That won't happen. That's not possible … this momentum is becoming so strong." Maintenance work on wind turbines at a wind farm on East Lvhua Island in Zhoushan, Zhejiang Province. ( Getty Images: VCG ) The beginning of the end of fossil fuels It's hard to communicate the scale of China's clean technology rollout but it helps to look back to recent history to appreciate the transformation. China became the world's factory at the end of the 20th century, manufacturing cheap, low-quality products. This industrialisation modernised the country but also caused widespread environmental damage and drastic air pollution. The factories were powered by fossil fuels, causing China's emissions to skyrocket and it to become the largest polluter in the world. China overtook the United States for top place in 2006, but the US is still responsible for the most emissions historically, at one-quarter of all emissions. Still, China's pivot to renewables wasn't just about addressing these rising emissions. With polluted waterways and acrid city smog long ago becoming their own crises, China had to act. Part of that response, starting a decade ago, was a plan called Made in China 2025, which outlined how it would reshape its manufacturing capability to focus on high-tech products, including the ones needed to address climate change. The authoritarian regime put the heft of the state behind clean technologies at a scale and pace difficult to imagine in most democracies. A worker inspects solar panels at a solar farm in Dunhuang, 950km north-west of Lanzhou, in China's Gansu Province. ( Reuters: Carlos Barria ) It began to invest in all components for renewables, especially wind, solar, electric cars, and batteries that are used for both transport and energy storage. To do this, it used significant government-funded subsidies, said Ember's Muyi Yang. "We all understand that young sectors and technologies need some protection for them to grow. It's like helping a baby to learn how to work, initially, you need to support them. "But I think the logic behind China's policy support is always clear — this support is not meant to be pumped up indefinitely." When China rose to industrial dominance in the 1990s, it realised that it could maximise output by developing hubs where all parts of a supply chain for a product are built in the same region. The same approach was applied to renewables, meaning battery factories were established near car plants, as an example. "It's not about subsidies. It's about sound planning, sustained commitment, and targeted support," Yang said. As the Made In China plan unfolded, more and more power was needed to fuel these energy-hungry factories and the lifestyles of the burgeoning middle class. To keep up, China built new coal-fired power stations, even as it was installing more wind and solar. This "dissonance" between China's booming renewables and coal has meant China is painted both as a climate hero and a villain. It's also meant that emissions kept rising. More than 60,000 solar photovoltaic panels cover a mountain in Jinhua, in China's Zhejiang province. ( AFP: Yuan Xinyu ) Renewables boom A decade after the Made in China plan began, the country's clean energy transformation is staggering. "It's a really interesting policy because it's a 10-year plan to become a world-leading clean tech manufacturer, which they've outright achieved," said Caroline Wang, the China engagement lead at the thinktank Climate Energy Finance. "They've made themselves indispensable in the new kind of global economy." China is home to half of the world's solar, half of the world's wind power, and half of the world's electric cars. "In the month of April alone, 45.2GW of solar was added, more than Australia's total cumulative solar power capacity," Caroline Wang said. "China's renewable capacity has exponentially increased and that has also contributed to the drop in coal, in coal use and emissions. There is now a structural kind of decline of coal." That's already having an impact on emissions. Recent analysis from Carbon Brief found the country's emissions dropped in the first quarter of 2025 by 1.6 per cent. China produces 30 per cent of the world's emissions, making this a critical milestone for climate action. With its unmatched economies of scale, this dramatic acceleration has also brought down the cost of electrification across the world and made China the world leader in clean technologies. Chinese-made electric cars are becoming more dominant on Australian roads — something that's already happened for the solar panels and batteries installed across Australian homes. "China has successfully helped the rest of the world lower the bar for them to embark on the transition. This makes it easier for many other countries to jump on board," Ember's Muyi Yang said. "The transition has to be affordable, otherwise it will be extremely difficult for many developing countries." China's clean energy exports in 2024 alone have already shaved 1 per cent off global emissions outside of China, according to Carbon Brief, and will continue to do so for next 30 years. Caroline Wang points out that this green era has also brought major economic benefits. "It drove 10 per cent of their GDP last year, just the one industry, clean energy. It's overtaken real estate, and that says a lot because real estate was the driving force of their economy until a few years ago. But now it's been overtaken by clean energy," she said. Photovoltaic modules for solar panels in a factory in Suqian, east China's Jiangsu province. ( AFP ) A wind power equipment manufacturing company in Binzhou, in China's Shandong Province. ( AFP/Costfoto/NurPhoto ) The Shichengzi photovoltaic power station in Hami City, north-west China's Xinjiang Uyghur region. ( AFP/Xinhua/Hu Huhu ) Energy security as an electrostate China's renewables expansion is also striking because it could not be more different to the direction of another world superpower, the United States, under the leadership of President Donald Trump. Casting aside the climate damage it will wreak, the US is in a position to return to its "drill, baby, drill" roots because the country produces more than enough fossil fuels to cover its own needs. That's not the case for China. One of the key reasons it has pivoted to electrification is to get away from its dependence on imported fossil fuels. A giant oil and gas field in Saudi Arabia's Rub' Al-Khali (Empty Quarter) desert, operated by Aramco. ( Reuters: Hamad I Mohammed ) "I think there's some deep strategic thinking … it's not only about the environmental obligation or international commitment, and it can also not be fully explained by economic benefit in terms of jobs and investment," Yang said. "Energy is a basic input for economic activities. Energy security is critical because it's critical for supporting a functioning economy." "China sees the old, the conventional fossil fuel growth model as not sustainable. And it is becoming increasingly unable to sustain long-term prosperity." When the world's economies became hooked on fossil fuels, they became dependent on the countries that could supply them, and the price of fossil fuels increasingly dictated global markets. "This dates back to issues in the 1970s with the [oil] crisis," said Jorrit Gosens, a fellow at the Center for Climate and Energy Policy at the Crawford School of Public Policy at the ANU. "That's really when people start to think about energy security, especially when we talk about China. "China typically is described as very rich in coal, but very poor in natural gas and oil." BYD electric cars for export are waiting to be loaded onto a ship at a port in Yantai, in eastern China's Shandong province. ( STR/AFP ) New electric vehicles disembark from a BYD vessel. ( Reuters: Anderson Cohelo ) Electrification is changing that, and China — the world's biggest oil importer — is already weaning itself off with electric cars. "If you go to Beijing today, you can honestly stand at intersections with four lanes going every way and it'll be quiet as a mouse. The noisiest thing coming past will be a creaky bicycle," Dr Gosens remarked. Last year, crude oil imports to China fell for the first time in two decades, with the exception of the recent pandemic. China is now expected to hit peak oil in 2027, according to the International Energy Agency. This is already having an impact on projections for global oil production, as China drove two-thirds of the growth in oil demand in the decade to 2023. A new energy base in China's Tengger Desert. ( AFP: NurPhoto ) The end of the petrostate? The 20th century has been dominated by countries rich in fossil fuels, and many of the world's conflicts fought over access, power and exploitation of them. Done right, electrification could change that too, as most countries will be producing their own electricity. "Even if you have pretty poor quality natural resources, you can still squeeze quite a bit of electricity out of a solar panel. It's really changing the geopolitics," ANU's Dr Gosens said. "Renewable energy is the most secure form of energy that there is because you just eliminate the need for import. "But also the cost of it, right? It's a stable cost. You lock it in as soon as you build it. You know what the price of your electricity is going to be. You get insulated from both those risks if you have more renewable energy." For Australia, one of the world's largest exporters of coal and gas, there is plenty to take from this, with China's furious electrification paving the way for the rest of the world to follow. "Even if we have these climate wars here still … we can bicker about how quickly we should transition away from fossil fuels domestically [but] the rest of the world is ultimately going to decide how much they'll be buying of our coal, gas and iron ore," Dr Gosens said. "I think that's the biggest risk that we fail to prepare for something and that these changes will be much quicker than we currently anticipate." For Climate Energy Finance's Caroline Wang, it's in Australia's interest to be clear-eyed about what's happening in China. "I think a gap in Australia and other Western countries is knowledge and understanding. China is a complex country … it's got good and bad. For the energy transition space, which is full of complexity, there's a real need, for our strategic national interests, for Australia to understand what is happening in China." Finding hope in national self-interest and security might seem strange, but for Wang, China's transformation makes her more optimistic about the climate crisis. "This is the world's largest emitter, the largest population. If they've managed to do it in quite a short time — a decade — it's a kind of achievement that we haven't seen any other country achieve. And so it's very inspiring. Seeing that on the ground gave me hope for other countries, including Australia … there are lessons there to be learned." Wind turbines at a wind farm in Suichuan County, in China's central Jiangxi province. ( STR/AFP ) Read the story in Chinese: 阅读中文版 Reporting: Jo Lauder Design and graphics: Alex Lim Header photo illustration (clockwise from left): Getty: Kevin Frayer; STR/AFP; Reuters: Florence Lo
News.com.au
9 minutes ago
- News.com.au
Sydney rolls out ‘dramatic' parking changes to combat CBD decline
Councils have been slashing parking rates in an attempt to combat further CBD decline after previously slugging commuters with costly parking fees across Sydney for many years. Recent data has revealed Sydney's parking operators are introducing day-specific early bird rates that acknowledge the permanent shift in commuting patterns, with parking fees in major jobs hubs outside the Sydney CBD beginning to moderate. It's come amid still elevated office vacancies and office property market that has yet to return to its pre-Covid heights. Ray White reported the emergence of cheaper Monday and Friday parking mirrors Auckland's approach, where operators recognised these as preferred work-from-home days and adjusted pricing accordingly. Ray White Commercial head of research Vanessa Rader said this granular pricing strategy represents a fundamental evolution from traditional volume-based early bird discounts to dynamic demand management tools. 'The variation across Sydney's office submarkets reveals telling disparities in competitive pressure,' she said. 'While Sydney CBD maintains its position with daily rates averaging $77.00 and early bird discounts of 43.5 per cent, the struggling fringe markets tell a different story. 'Parramatta's dramatic intervention through council-controlled facilities at Justice Precinct and Parramatta Station, where flat-rate fees have been significantly reduced to just $14.00, represents public sector acknowledgment of CBD recovery challenges. 'Even more creatively, operators are introducing flexible monthly parking arrangements that equate to as low as $9.25 per day, encouraging hybrid workers to come and go as they please.' Ms Rader said this compares starkly with North Sydney's $54.24 daily rates and Chatswood's $31.84, yet these markets offer substantially deeper early bird discounts at 50.9 per cent and 59.2 per cent respectively, with Chatswood also embracing flexible early bird options. 'Parramatta's office fundamentals support this parking intervention strategy,' she said. 'With an elevated 20 per cent vacancy rate and negative absorption over the past year, the precinct desperately needs footfall.' According to Ms Rader, the council's parking rate reduction functions as an economic development tool, attempting to stop further CBD decline. North Sydney's 23.7 per cent vacancy rate and Chatswood's 17.7 per cent rate reportedly also suggest these markets may soon adopt similar pricing strategies. Ms Rader said the Metro rail network additionally adds another layer of complexity to these parking dynamics. 'North Sydney and Chatswood benefit from high-frequency Metro services that provide seamless connectivity, potentially reducing parking demand as commuters opt for public transport,' she said. 'This transport advantage may explain why these markets can maintain relatively aggressive early bird discounting without complete pricing collapse. 'Parramatta's upcoming Metro connection could fundamentally alter its parking landscape, potentially reducing reliance on council-subsidised rates as improved transport connectivity stimulates natural demand recovery.' The report revealed the two-tier early bird pricing evolution, combined with targeted council intervention and transport infrastructure development, demonstrates how parking strategy has become central to CBD recovery efforts. 'As we observed across Australian and New Zealand markets, parking performance serves as both a leading indicator of office market health and a policy lever for urban economic management,' Ms Rader said. 'The sophistication of these pricing responses suggests operators and councils recognise that traditional commuting patterns have permanently shifted, requiring fundamental recalibration of revenue expectations and urban planning strategies.'
News.com.au
9 minutes ago
- News.com.au
Up 11pc: Big bank's surprise forecast for Aussie home prices
One of the big four banks has upgraded its forecast for Aussie home prices, tipping capital city values to rise even higher next year as interest rate cuts boost borrowing power. ANZ Research now expects capital city prices to rise 5 per cent by the end of this year and a further 5.8 per cent — culminating in a near 11 per cent jump in by the end of 2026. ANZ economist Madeline Dunk said momentum had been building since the Reserve Bank cut interest rates in February, with capital city home prices growing at an annualised rate of 7.4 per cent over the past three months. RELATED: Named: Every bank that's slashed rates to under 5pc The bank expected the RBA to cut rates by another 25 basis in August, and predicts another 0.25 per cent decrease in November, which should support prices further — particularly in Sydney and Melbourne. The research found Australia has a higher share of households on variable rate mortgages relative to other economies, and that around 10 per cent of households have lowered their mortgage repayments since the RBA began easing rates in February. Auction clearance rates have also been trending upwards, according to ANZ, averaging 68 per cent over the past month. Lack of supply remains a major factor supporting projected home price growth. Across the capital cities, new listings were down 12 per cent in July and total listings were down 8 per cent. 'Stock is particularly constrained in Hobart, with new listings down 25 per cent year-on-year and total listings down 29 per cent in July,' Ms Dunk said. 'We think some of the recent strength in housing prices is due to the lack of stock on the market. 'New listings (nationally) are down more than 10 per cent year-on-year and total listings are about 29 per cent below the 10-year average. 'Listings should rise as the spring selling season gets underway. Medium term, housing undersupply will continue to place pressure on prices, particularly in areas where population growth is strong.' But the ANZ Research team also believes affordability constraints will prevent a sharp upswing in price growth. 'Cheaper properties are recording stronger price growth, with those in the bottom price quartile up 5.7 per cent year-on-year in July versus 1.2 per cent year-on-year for those in the top quartile,' Ms Dunk said. 'We expect Melbourne to experience an affordability-driven boost in 2026, while Adelaide may struggle given the 76 per cent rise in prices over the past five years. 'We expect the pace of growth to slow in the smaller capitals, like Perth and Adelaide.' It comes after KPMG announced it expects house prices across the country to rise by 4.5 per cent in 2026 — up from its previous forecast of 3.3 per cent. 'You can really feel a renewed confidence in the market over the last few months in particular, with the quarterly growth rate hitting the highest level since this time last year,' KPMG chief economist Brendan Rynne said. 'Two interest rate cuts so far this year, and a likely succession of further cuts on the way are helping to kick start the property market for the first time since the pandemic, putting more pressure on prices,' Dr Rynne said.
