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Regional Economic Development

Offshore petroleum exploration extended

AUSTRALIA’s 2018 offshore petroleum exploration areas were released at the annual Australian Petroleum Production and Exploration Association (APPEA) Conference in Adelaide recently.

A total of 21 areas have been released for offshore petroleum exploration. They are located in the Bonaparte Basin, Browse Basin, Northern Carnarvon Basin, Bight Basin, Otway Basin and Gippsland Basin. 

Resources and Northern Australia Minister Matt Canavan said the Federal Government’s annual release of offshore petroleum exploration acreage encouraged investment and contributed to the responsible development of Australia’s oil and gas resources.

He said all release areas were supported by industry nominations indicating that interest in exploring offshore Australia’s basins “remains strong” despite the significant decrease in the number of exploration wells drilled in recent years.

In order to attract robust industry participation in the bidding process, the released areas are selected to reflect geological and geographical diversity to cater for the full gamut of petroleum exploration companies.

Mr Canavan said Geoscience Australia continued to support industry activities by acquiring, interpreting and integrating pre-competitive datasets that are made freely available as part of the agency’s regional petroleum geological studies.

The regional evaluation of the petroleum systems in the Browse Basin have been completed and work continues on assessing the distribution of Early Triassic source rocks and related petroleum occurrences across the North West Shelf.

www.appea.com.au

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$96m for JCU’s Townsville engineering innovation program

THE FEDERAL Government has committed up to $96 million from its Northern Australia Infrastructure Facility (NAIF) to a project aimed at boosting enrolments in engineering courses at James Cook University (JCU) in Townsville.

The funding is NAIF’s first investment commitment in Queensland and it will be used to develop a Technology Innovation Complex. 

“The Technology Innovation Complex (TIC) will provide contemporary facilities as part of the Science, Technology, Engineering and Maths (STEM) offering, targeted at engineering students,” Resources and Northern Australia Minister Matt Canavan said. 

“JCU is establishing a focus of engineering for the tropics and the Technology Innovation Complex will be the centrepiece of an ‘innovation hub’ in which undergraduate students, industry partners, post-graduate researchers and start-up businesses will collaborate.

“This is part of a broader plan by JCU to modernise its facilities across the Townsville campus over seven years from now till 2025, and it’s great that a NAIF loan can help facilitate this process and attract more students.

"We also need to attract more young Australians into engineering to support our strong resources sector. We have built our mining sector by harnessing the efforts of some of the world's best engineers trained here in Australia. This new facility will help us repeat that success in the future."

The proposed financial assistance is subject to the finalisation of the Queensland Government’s consideration and agreement for the approved funds to be advanced.

Northern-based Senator Ian Macdonald said he was pleased to see NAIF making a loan commitment that would significantly benefit the economy of North Queensland.

“I am strongly committed to promoting further development in North Queensland and believe this JCU project will attract industry, generate jobs and retain graduates in the region,” Senator Macdonald said.

“It will particularly help JCU attract more regional and international students in engineering, which in turn will boost expertise in a profession so vital to infrastructure development and innovation in Northern Australia and throughout our part of the world.

“The TIC is part of a broader modernisation and building program that JCU tells me will potentially return a public benefit of some $700 million over 30 years, driven by increased participation in higher education and collaboration with industry, so it is terrific the NAIF funding can help generate that sort of benefit.”

Senator Macdonald said he believed that Queensland had regularly had the highest number of active projects in the NAIF pipeline, as well as projects in the advanced ‘due diligence’ phase.

“This is not surprising, considering North Queensland has the highest population and most developed infrastructure in Northern Australia, and I look forward to seeing further investment decisions being announced by NAIF for funding in our region in future.”

www.naif.gov.au

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Regional devt more important in Queensland – CEDA

STRONG government support for regional development is more important to Queenslanders compared to other states, while Queenslanders are less likely to feel like they have gained from economic growth and are less satisfied with work, according to results of a nation-wide poll.

The Queensland results are part of a major national poll commissioned by the Committee for Economic Development of Australia (CEDA) for its report Community pulse 2018: the economic disconnect.

The CEDA poll explored who has gained from Australia’s record run of economic growth; their most important issues personally and to the nation; and attitudes to work.

CEDA chief executive Melinda Cilento said the Queensland results, in line with the national results, showed the state placed a high level of importance on government services, in addition to being focused on regional growth and jobs. 

“Overall Queensland respondents were more likely to feel like they have not gained, or don’t know if they have gained, from Australia’s record run of economic growth compared to national results – 59 percent compared to 55 percent nationally,” Ms Cilento said.

“Unemployment and youth unemployment are both higher in Queensland than nationally and slightly higher again in regional areas.

“This is no doubt one of the factors impacting on how Queenslanders feel about the economy and their current circumstances.

“In addition, regional growth and jobs are an important contributor for the state with a higher proportion of jobs based outside the capital city than in other states,” Ms Cilento said.

“There are almost 2.5 million people employed in Queensland and around half of those are outside the greater Brisbane area. It is therefore unsurprising that government support for regional development is ranked as more important in the issues of personal importance.

“Despite 27 years of uninterrupted economic growth many Australians are telling us through this survey that they don’t feel like that are getting ahead, and that feeling is stronger in Queensland.

“Stagnant wages and cost of living pressures are likely factors but regardless, we need to do better at connecting communities’ expectations and aspirations with economic benefits,” she said.

“This will ensure there is support for the economic development and reform needed to keep Australia competitive.On the job front Queenslanders are less satisfied with their current level of pay, benefits such as superannuation, level of job training and conditions in the workplace.

“When looking for a job, consistent with national trends, conditions in the workplace was the most important factor.

“However, Queenslanders are more interested in progressing in their careers. Opportunities for career progression was much more likely to be ranked as very important by Queensland respondents (55 per cent compared to 42 per cent nationally).”

On the national issues of greatest importance, Ms Cilento said Queenslanders were in line with the national results placing greatest importance on high quality and accessible public hospitals; strong regulation to limit foreign ownership of Australian land and assets; increased pension payments; high quality and choice of aged care services; and high quality and accessible public schools.

“The top personal issues in Queensland, in addition to regional development, aligned nationally with reliable, low cost basic health services; reliable, low cost essential services; access to stable and affordable housing; affordable, high quality chronic disease services; and reduced violence in homes and communities, rating as of high importance,” Ms Cilento said.

“Much like the other states, the expectation that government should provide the services fundamental to the quality of life in Australia remains strong.

“Interestingly one of the areas of least importance was commuting times. Nationally this ranked as of low importance but in Queensland it was even less important compared to the national ranking.”

www.ceda.com.au

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Seachange lifestyle becomes ‘transformative’ for over 50s

WITH POPULATION RESEARCH projecting that more than five million Australians will be over the age of 65 by 2025, luxury lifestyle communities for over 50s are coming into their own and development has accelerated in recent years.

Many developers are so confident of growth in the sector that they are taking a more creative approach, changing the face of the retirement sector. One developer with runs on the board is Seachange Lifestyle Resorts – a brand of Queensland design and construction company Pradella – and its approach is paying off in terms of sales.

“Baby Boomers are much more demanding than the last generation,” Pradella Property Ventures sales and marketing director Alex McMahon said. “ The push toward functional specialisation in the over 50s sector, has crucially directed homes be designed to meet the demand for low-maintenance homes with a high-level of technological connectivity and security to better suit the generational change of today’s buyers. 

“If you think the new Toowoomba Seachange Lifestyle resort is a magnet for buyers wanting to relax, catch up on all those years of lost sleep while you raising a family or pursuing your career, then you would be correct.

“This modern staged development has been planned as a dynamic 162 home boutique community delivering state-of-the-art facilities and bearing all of the hallmarks of a 5-star resort.

“The success story of this Harristown development is our careful planning and our commitment to ensuring the development responds to the greater community objectives.  An example of this would be the provision of larger allotments and space for residents to have their own garden beds,” he said.

“The focus being on choice, if you’re not a gardener or want no maintenance then you can have that, but if you enjoy gardening then Seachange Toowoomba offers an enviable northerly aspect and lots of space to continue this hobby. It is intended as a community within a wider community, homes are consciously designed to smooth the transition from larger home to a more luxurious, secure environment where home owners can take on as much or as little as they want from this new lifestyle,” Mr McMahon said.

Mr McMahon said he took note of a recent study that revealed today’s purchaser was younger than their years would suggest. He said the evidence was that they were living longer, active later, using technology more and even working later in life than previous generations of retirees.

“More than one in seven of our past Seachange lifestyle resort owners in South East Queensland are still in paid employment and based on these trends we will see increasing numbers of our home buyers for our luxury lifestyle communities who are not in fact retired,” Mr McMahon said.

“As a developer of over 50s communities, our focus weighs heavily on these aspects. It’s why we invest a lot of time into researching market trends, finding the right sites, developing masterplans and creating homes that respond to the needs of modern over 50s.”

Mr McMahon said Seachange Toowoomba had responded to the baby boomers' desire to downsize their financial commitments while upsizing their lifestyles with homes available from $379,000.

Local builder Nick Ruhle said the modern and spacious floorplans had been designed to enhance natural light and safeguard practicality allowing for a comfortable and convenient home design.

He said the various home styles on offer had been specifically created to maximise the liveable space in each home in an effort to overturn the common misconception that a smaller scale home is not suitable for comfortable living.

www.seachangelifestyleresorts.com.au/locations/toowoomba

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Seachange taps in to over 50s trend for 'luxury' lifestyles

WITH OVER five million Australians expected to be over the age of 65 by 2025, luxury lifestyle communities have exploded over the past few years – and many developers are taking the opportunity to change the face of the retirement sector.

Pradella’s Seachange Lifestyle Resorts is one developer that has expanded its range of residential projects by releasing architecturally designed homes in prime unique locations, exclusively for the over 50s market to explore creative life choices in a secure environment.

"We brought this approach to both our current Upper Coomera and Toowoomba projects and made modifications to the masterplans to create designs that will grow with the community and help create a truly better place to live,” Pradella’s director of sales and marketing Alex McMahon said.

“Today's baby boomers have high expectations for their retirement lifestyle, so location and design of the home are both vitally important.

“As a developer of over 50s communities our focus weighs heavily on these aspects, it's why we invest a lot of time into researching market trends, finding the right sites, developing masterplans and creating homes that respond to the needs of modern seniors. 

“With a north-easterly orientation, positioned overlooking a grove of stately pine trees atop rolling green lawns flowing gently down to the Upper Coomera River, Seachange Riverside Coomera is fast becoming a premium lifestyle choice that offers downsizing with style,” Mr McMahon said.

The strong connection to both the river and the hinterland that surrounds Seachange Riverside Coomera has driven buyer demand from within a 10km radius. 

According to Mr McMahon, Seachange has a staged construction approach “with quality resort style facilities offering a diversity of activities and community social elements for wonderful community engagement”.

“Our philosophy is to create a welcoming community to allow residents to enjoy our great Gold Coast climate,” he said.

Seachange Riverside Coomera has responded to the baby boomers’ desire to downsize their financial commitments while upsizing their lifestyles, with homes available from $449,000.

Alex McMahon said, “People have more time and want to enjoy their lifestyle, to take advantage of a full range of activities and facilities to reconnect with friends and extended family.  Manicured lawns, fully equipped clubhouses, gym and swimming pools, everything tailored to maximise the resident’s lifestyle.  

“Everyone is inherently social, in additional to traditional facilities Seachange Riverside Coomera has a Bocce court and community garden recognising our owner’s diverse interests" Mr McMahon said.

“Lifestyle decisions are very personal. That’s why we encourage prospective buyers to inspect Riverside Coomera and chat with our residents to judge first-hand the natural affinity to the over 50s environment at Riverside Coomera.” 

www.seachangelifestyleresorts.com.au/locations/coomera/

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Springfield is driven by city innovation

SPRINGFIELD City Group has signed a memorandum of understanding (MoU) with the Queensland Government to collaborate on new city technology innovations. 

In a sign of ‘things to come’, Minister Jones used the Springfield visit to sample Autonomous Vehicle Shuttle trial, operating as part of a separate test event by Easy Mile in Springfield Central, between Orion Lagoon and the University of Southern Queensland.

Ms Jones said the MoU covers areas of collaboration on innovation attraction, ecosystem development, as well as energy and big data innovation.

“Springfield City Group was delighted to get a glimpse of the future of transport and to be able to join in the experience with our community,” Mr Sinnathamby said.

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Construction having best year in a decade

MASTER Builders Australia is seeing the commercial construction sector have its best year in more than a decade, led by new transport and logistics infrastructure and a surge in Asian investment in hotels and resorts.

It may be enough to moderate a slowdown in residential construction and a consolidation in the engineering sector, Master Builders research is suggesting.

“With forecast growth of more than 14.5 percent (equal to $5.3 billion) commercial building activity will be strong enough on its own to drag the whole industry back into positive territory for the first time in four years,” Master Builders Australia’s national manager for economics, Matthew Pollock said. 

Mr Pollock said the latest Building & Construction Industry Forecasts produced by Master Builders Australia showed total commercial construction activity was expected to contribute $42 billion to the economy in 2017-18.  

“With a small moderation expected in the value of residential construction work and another year of consolidation in the engineering sector, the timing of this surge in commercial construction couldn’t be better,” Mr Pollock said.

“Better yet, new commercial construction projects will provide job opportunities for workers who may be finishing up on major high density residential projects over the next 12 months or so.

“New retail related construction is expected to rise to $6.9 billion in 2017-18, led by the recent introduction of some big international retailers, including Amazon which recently built a large distribution centre in Melbourne’s Dandenong South and plans by Aldi to open another 30 stores across the country in the next 12 months,” Mr Pollock said.

“Asia continues to be a strong source of tourist visitor numbers, particularly from Japan, South Korea, Malaysia and China. Asian investment is following the tourists with $4 billion committed to the construction of new pipeline of resorts and hotels with Queensland’s resort sectors forecast to do particularly well,” he said.

“Looking a little further down the track, the government’s investment in major transport infrastructure is ramping up and will support a boom in transport related construction over the next five years. There are currently more than $170 billion in transport projects in the pipeline, with activity expected to peak in 2019-20.

“This work will provide jobs for years and also provide much need productivity enhancing infrastructure. Master Builders has called for a greater focus on infrastructure investment to support businesses, but also to boost new housing supply and help with housing affordability,” Mr Pollock said.

“On the residential building front, the last three years saw unprecedented growth in new housing construction. We have built more than 200,000 new dwellings per year – a feat unmatched in our history. 

“Despite the forecast showing a moderation in new dwelling construction, we expect new commencements in 2017-18 to top 195,000 and average around 185,000 thereafter. To keep pace with population growth we will need to build at least 185,000 new dwellings each year for the next five years,” Mr Pollock said.

www.masterbuilders.com.au

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