Elevating Off-the-Plan Development with Resilience Latent Defects Insurance: A Scion Perspective.

Feb, 2025: What are we up too? As we look toward the future, Scion is entering 2025 with ambition and determination. With over five projects in the pipeline and several ongoing developments across Sydney, we’re gearing up for a year of growth, innovation, and continued leadership in the property development and construction industry. 2025: A Year of Growth and Expansion At Scion, we’ve built a reputation over the years for delivering high-quality residential and mixed-use developments. In 2025, our focus is on expanding our capabilities, both in the projects we undertake and in the team that drives our success. We’re committed to scaling new heights, working on more dynamic and ambitious projects, and expanding our expert team to meet the needs of a rapidly growing market. Our Ongoing Projects 2025 marks a significant year for Scion, as we continue to progress on multiple flagship projects that will contribute to the urban fabric of Sydney. With each development, our goal remains to deliver high-end residential, mixed-use, and commercial spaces that enhance the quality of life for those who live, work, and visit these spaces. Our projects are strategically located in areas primed for growth, ensuring long-term value for our stakeholders and a lasting impact on the city. Some of our current and upcoming developments include: Sterling, Lane Cove: As we near completion, this luxury development continues to showcase our commitment to quality craftsmanship and innovative design. Chatham, West Ryde: With the facade approval secured, this project is set to redefine the West Ryde precinct with premium residences and retail spaces. Oberon: This luxury development, designed by BJWC, is progressing smoothly and will set new standards for comfort and elegance in residential living. Curtis Grove: This exceptional land sub-division development spanning 1,100 hectares in South Australia has recently been DA approved for a 9-lot land subdivision. Other Upcoming Projects: We’re excited about the five additional projects in the pipeline, each designed with the same dedication to quality and attention to detail that Scion is known for. Expanding Our Team and Capabilities As we prepare for a bigger 2025, we’re also expanding our team to support the growth of our portfolio. Our industry-leading experts—ranging from project managers, engineers, architects, to skilled builders—are key to the ongoing success of Scion. With this expansion, we’ll be able to take on more large-scale, high-impact projects across Greater Sydney while maintaining the same level of precision and excellence that has become synonymous with our brand. We continue to invest in the latest construction technologies and methodologies, enabling us to streamline processes, enhance productivity, and create innovative solutions for every stage of development. Leading the Way in Sydney’s Development Landscape As developers and builders, Scion Group is proud to be part of Sydney’s evolution, contributing to the transformation of urban spaces and the growth of vibrant, sustainable communities. In 2025, we will continue to lead by example, leveraging our decades of expertise to meet the demands of the modern market. We remain steadfast in our mission to deliver projects that not only stand the test of time but also exceed the expectations of our clients, residents, and communities. Every project we undertake is an opportunity to build something meaningful, and 2025 promises to be a year where we build more than ever before. Looking Ahead We are excited for what lies ahead in 2025 and are confident that with our growing team and project portfolio, we are poised for even greater success in the years to come. Keep an eye on Scion as we continue to deliver exceptional developments that help shape the future of Sydney! To learn more about our upcoming projects and team expansion, sign up to our newsletter at scion.com.au .

We are excited to move towards completion of Sterling, an exquisite collection of 1, 2, and 3-bedroom residences nestled in the heart of Lane Cove. Set for completion in Q1 2025, Sterling is a testament to refined living, featuring 50 meticulously crafted homes designed for comfort and sophistication. Unmatched Quality Each residence boasts sophisticated interiors and superior finishes, offering breathtaking views of Sydney's CBD and the lush North Shore. Sterling’s elegant design harmonises beautifully with its natural surroundings, creating a serene living environment. Prime Location Conveniently located near 'The Canopy,' Sterling provides effortless access to Sydney’s finest dining, shopping, and transport options. With lush green spaces and a vibrant community, Lane Cove is rapidly becoming one of Sydney's most desirable areas. Residents will enjoy proximity to local amenities, parks, and educational institutions, including: • 350m from Lane Cove Village • 400m from Lane Cove Library • 1km from Lane Cove National Park • 700m from Mowbray Public School LDI Certified At Sterling, we prioritise quality and peace of mind. Each apartment comes with a 10-year Latent Defects Insurance, ensuring your investment is protected for years to come. Don’t miss the opportunity to be part of this exclusive residential development. Register your interest today at sterling-lanecove.com.au and discover the perfect blend of luxury, convenience, and natural beauty that Sterling has to offer. Development Manager and Builder: Scion Group Architect: Wolski Coppin Architecture Sales & Marketing: Ray White Projects WS

At Scion, we believe that mental health is a cornerstone of a thriving workplace and productive project sites. While R U OK Day on Thursday, September 12th serves as a powerful reminder to check in with those around us, our commitment to mental health extends beyond just one day. We celebrate and support mental well-being every day, integrating it into our company culture and operational practices. Commitment to Mental Health On-Site In our construction sites, we prioritise the mental health of our teams by fostering a supportive environment. Our site managers and supervisors are trained to recognise signs of stress and provide resources to support our workers. Regular mental health check-ins and access to professional support services ensure that all team members feel valued and heard. We implement practices that promote a balanced workload and encourage open communication, helping to reduce stress and improve overall well-being. Mental Health in the Office In our offices, we maintain a culture of openness and support. Our management team actively promotes mental health awareness and ensures that employees have access to resources and support systems. We provide access to mental health topics, encourage work-life balance, and create a positive, inclusive workplace environment. By integrating mental health considerations into our daily practices, we aim to foster a workplace where everyone feels comfortable discussing their well-being and seeking help if needed. Creating a Supportive Culture Our commitment to mental health is reflected in our policies and practices. While we celebrated R U OK Day on September 12th with a Site BBQ with dedicated activities and discussions, our efforts to support mental health are woven into the fabric of our company culture every day. By prioritising mental health, we not only support our employees and site teams but also contribute to a more positive and productive working environment.  At Scion, we are dedicated to making mental health a continuous priority. We encourage everyone to join us in this commitment, both within and beyond the workplace. For more information on mental health within the work place, visit ruok.org.au

We are thrilled to present Sterling in Lane Cove, a prime example of Scion’s dedication to quality and sophistication, scheduled for completion in Q1 2025. Designed by Design Corp Architects, Sterling features 50 meticulously crafted residences that blend elegance and convenience with natural beauty. Location & Lifestyle Situated in the vibrant heart of Lane Cove, Sterling offers unparalleled access to local amenities, parks, and transport. Lane Cove is rapidly becoming one of Sydney's most desirable areas, known for its lush green spaces and vibrant community. Key highlights include: • 350m to Lane Cove Village • 400m to Lane Cove Library • 1km to Lane Cove National Park • 700m to Mowbray Public School We are proud to announce all future residents of Sterling will benefit from our 10-year Latent Defects Insurance (LDI). This insurance reflects Scion Group’s commitment to the highest building quality standards through consistent Inspection and Test Plan (ITP) procedures. The LDI provides a decade of assurance against any latent defects, offering peace of mind and reinforcing our dedication to delivering long-term quality and reliability in our developments. With all internal rough-ins completed and only a few levels left to sheet, Sterling remains on-track for completion within the next 5 months. Stay updated with our progress and explore the exceptional living experience that Sterling promises, by connecting with us on all social media platforms. 

In the realm of property development, excellence is a non-negotiable standard that Scion Group diligently upholds. Our commitment to quality and innovation is exemplified in our latest achievement, receiving ISO certification. This milestone certification underscores our dedication to delivering high-quality projects that adhere to the highest international standards. ISO certification is a formal recognition that an organisation's management systems, products, or services meet specific international standards set by the International Organisation for Standardisation (ISO). These standards ensure that organisations operate efficiently and effectively, providing consistent quality and continuous improvement. ISO certification covers various domains, including quality management (ISO 9001), environmental management (ISO 14001), and occupational health and safety (ISO 45001), among others. By achieving ISO certification, it highlights an organisations commitment to excellence, regulatory compliance, and customer satisfaction, thereby enhancing their reputation and competitive advantage in the market​. ISO certification is important for several reasons: • Quality Assurance: It provides a structured framework for ensuring consistent quality in processes and outputs, minimising the risk of defects and rework. • Operational Efficiency: ISO standards foster streamlined processes, reducing waste and increasing productivity. • Market Trust: An ISO certification signals to clients and stakeholders that a company is committed to excellence, reliability, and continual improvement. • Regulatory Compliance: It helps organisations meet regulatory and statutory requirements, reducing the risk of legal issues and fines. Achieving ISO certification underscores Scion Group’s commitment to excellence in property development. These certifications validate our rigorous standards in quality management, environmental stewardship, and occupational health and safety. By meeting these high standards, Scion not only enhances project quality but also sets a new benchmark in the industry. This milestone reflects our dedication to delivering exceptional, sustainable, and safe developments, exceeding the expectations of our clients and stakeholders. We’re proud to lead by example and invite you to celebrate this achievement as we continue to innovate and set new standards in property development! For more detailed information, visit SAI Global Assurance . 

NSW Building Commissioner Gives Apartment Buyers Quality Confidence & Assurance The New South Wales (NSW) building commissioner is playing a vital role in giving apartment buyers confidence in building standards throughout the state. Scion welcomes the monitoring and enforcement of these standards which ensure consumer satisfaction and industry improvement. The commissioner has been appointed to ensure that buildings in NSW are designed and constructed to meet the required safety standards. The aim is to reduce the number of incidents of building failures and improve the safety of buildings in the state. One of the main tasks of the commissioner is to regulate the building industry in NSW. This involves working with the industry to develop and enforce building codes and standards that are consistent across the state. The commissioner also oversees the licensing of builders, contractors, and other building professionals to ensure they are qualified and adhere to the appropriate regulations. The commissioner had also undertaken a major role in, investigate building defects and take appropriate action to ensure that they are rectified. This includes identifying and addressing defects in existing buildings as well as preventing them from occurring in new constructions. To achieve these goals, the NSW building commissioner has implemented a number of initiatives. These include: 1. The establishment of the Building and Construction Commission: This is a regulatory body that oversees the building industry in NSW. It has the power to investigate and take disciplinary action against builders who breach regulations. 2. The development of a Building Assurance Framework: This framework sets out the requirements for building quality assurance systems and processes to be implemented by builders and developers. 3. The introduction of a Residential Apartment Buildings (Compliance and Enforcement) Bill: This bill provides additional powers to the commissioner to regulate the construction of residential apartment buildings. 4. The establishment of a building defect hotline: This hotline enables the public to report building defects and allows the commissioner to investigate and take appropriate action. 5. The creation of a Building Industry Advisory Group: This group comprises industry experts and stakeholders who provide advice to the commissioner on building industry matters. These initiatives have already made a significant impact on the building industry in NSW. They have led to improved building standards and greater transparency in the industry. More importantly it has held the industry accountable to meet appropriate standards and provided purchases with a confidence in the products they are purchasing.

The number of people inspecting rentals in Sydney’s city and east has more than doubled from last year. We spoke to some of those in the Saturday queue. Inspections for rentals in Sydney’s inner and eastern suburbs are attracting more than double the prospective tenants than last year, as thousands of the city’s renters continue their search for a place to call home. Domain data shows the number of rental check-ins – people who gave their personal details to an agent to enter a property, a common practice at inspections – per listing in the city’s eastern suburbs was up 145 per cent in February compared to the same month the previous year. Every Saturday, thousands of renters line up at open houses across Sydney. There was a 106 per cent increase in people inspecting properties in central Sydney and the inner south, with queues of up to 50 people now commonplace in suburbs such as Chippendale, and Zetland, where two-bedroom apartments listed on Domain for inspection on Saturday had an average asking rent of above $1050. Sydney-wide, there was a 20 per cent increase in registrations to inspect properties over the 12-month period. The city has seen an 84 per cent increase in people inspecting rental properties since March 2021. Domain chief of research and economics Dr Nicola Powell said the data showcased the competitive conditions renters were continuing to face after the traditional changeover period of December and January. “Sydney is a landlord’s market,” she said, stressing the situation had not been created overnight, with a lack of rental supply, affordability problems with purchasing property, a decline in household size as well as the return of international arrivals, who typically rent, all playing a role. A Reserve Bank of Australia report released last week found that advertised rents increased by more than 10 per cent in Sydney over the past five years, to the end of 2022. Over two weekends this month, The Sun-Herald spoke with renters lined up to inspect houses and apartments across the city’s inner suburbs. Facing approaching eviction dates, rent hikes, and the pressure to make a higher offer, many had inspected dozens of properties but still had not found a place. These are some of their stories. Matthew and Jasmine Drummond It’s Matthew and Jasmine Drummond’s first time in the rental market in 20 years and the competition is a shock. “It’s quite daunting,” Matthew says. “We had a great place, and it was easy not to move.” The pair spent the past two decades renting an apartment in Bondi. They know their neighbours, love the community, and have invested a significant amount of their own money in maintaining and repairing the property. But during a maintenance inspection, a contractor found severe electrical and plumbing issues. The pair were served with a termination notice and told to start looking for a new rental. They’re not having much luck. As they join the queue of 10 outside a two-bedroom apartment renting in North Bondi, the real estate agent arrives to let them know the inspection has been cancelled. “Everything costs a lot more money now,” Matthew says. Tee Longksao, inspecting at Chippendale In the apartments surrounding Chippendale’s Central Park Mall, conveniently located near both the UTS and the University of Sydney, as well as Central train station, queues of international students shuffle between inspections of apartments costing upward of $500 a room. But Tee Longksao, 33, is not a student. She is here trying to find a place for her cousin’s family to live when they move from Thailand in a few weeks. They can’t really stay with her – she’s in shared accommodation – and the search is becoming pretty hopeless. “The last two weeks, I have been inspecting units in similar addresses, and there were often 50 people,” she says. “They don’t have the supply for people who are coming in from overseas. We’ve had to increase the budget because otherwise you won’t be able to get any unit.” Days later, the two-bedroom unit was leased for $1300 per week. When it was last leased, in August, it went for $1000 per week. Riley Finnerty and Bryan Nguyen, inspecting at Enmore Like many house hunters, it was an increase in their weekly rent which saw Riley Finnerty and Bryan Nguyen give notice to leave the apartment they have leased for one year. Frustratingly, the couple may have given up a comparably good deal. “They were increasing our rent by a small margin, but I recently found our place advertised on Domain and it was more than $300 in addition to what they were going to get us to pay on a fortnightly basis” Nguyen says. “That’s for a one-bedroom apartment.” The couple is moving into a sharehouse with two friends to help keep costs down. They have been looking for a place for two weekends, inspecting about 10 places. “We got the place we are currently in on our third or fourth inspection,” says Finnerty. Joshua and Sharon Marlow, inspecting at Zetland Joshua and Sharon Marlow are desperately searching for a new property in Zetland before their daughter, Issy, turns two. They received a $230 rent increase notice for their current property, which they took to the NSW Civil and Administrative Tribunal. The increase was dropped to $110 per week after negotiations, and they were told they’d receive a six-month lease. But after three months of a rolling monthly lease, they received a 90-day lease termination notice. Their eviction notice is six days after Issy’s birthday on May 24. The day after they received this, the NSW government announced a proposal to ban no-grounds evictions for renters on rolling leases. “It’s a bit late for us,” Joshua says. The pair have considered offering more rent to secure a place, but the rental they’ve inspected – a two bedroom, two bathroom Zetland apartment renting for $1000 a week – is already at the “top end” of their budget. They’ve considered offering more rent upfront instead. “The whole rental bidding is making it even worse for us,” Sharon says. “We want to find a place soon – we don’t want [Issy’s] birthday to be ruined.” Olivia Natasha, inspecting at Chippendale In Chippendale, e-commerce operations manager Olivia Natasha is in the third week of her search for a two-bedroom apartment for her and her housemate. “We found out the owners of our current place are moving back into our building, so every weekend and weekday we have been just trying to see places,” she says. Two years ago, she was paying $600 per week for a two-bed in the area. Then, after a year, her old landlord bumped it up to $700. “Everything we are finding is obviously more than what we are paying now. Nine hundred is our budget. It’s really steep, but I guess that’s the market right now.” Lillian Lu, inspecting at Enmore Lillian Lu’s parents are renovating their Hills District house, and the three of them need a place to live. The 18-year-old is doing the hard yards of weekend inspections on their behalf. “I’ve inspected a lot of places, 20 or more,” she says. “And it’s really hard because we have a dog.” They have made a few offers, sometimes offering more than the listing price. “We are looking for a shorter rental, and that is even rarer. Everyone wants you in for 12 months.” Damien Minter, inspecting at Bondi Beach After returning to Australia from the UK, Damien Minter is on the hunt for an affordable apartment for himself, his partner and his four-year-old. One property he viewed in Coogee had a line of 40 people waiting to inspect the property. Minter says if he loses his temporary accommodation, he’ll consider offering more money for a rental. “If we get desperate we might have to,” he says. Inspections for rentals are attracting more than double the prospective tenants than last year, as thousands of the city’s renters continue their search for a place to call home. Cyrus Safdar, inspecting at Chippendale New to Sydney, Cyrus Safdar laughs a bit when asked if this is the first property he’s inspected. “No,” he says, elongating the vowel with a tone of disbelief. “It’s like the 40th or 50th.” He isn’t picky. Today he is inspecting in Chippendale, but he is generally happy to pay $400 to $500 per week to live by himself anywhere within a 30-kilometre radius of his CBD office. He’s tried offering more than the listed price, but suspects he is being automatically rejected because he currently only has one Australian payslip after working overseas for several years. “In Germany, I had an agent from work who helped me find a place,” he recalls. “I am probably more fortunate than other people because I have family who live here so I am not running up high costs with short-term rentals, but I am getting frustrated. I feel like I am infringing on [my family’s] space, too.” Ruairi Collier, inspecting at Enmore It’s Ruairi Collier’s third property inspection on the Saturday when we catch him racing down Francis Street in Enmore at around 10.30am, to inspect a two-bedroom house. “Hence the sweat,” the 25-year-old says, pointing to the patch on his shirt. At his Marrickville sharehouse, his partner and a friend have been given a date to move out as the owner wants to sell. Knowing the market, they are happy to live anywhere in the inner west, and they have had to stretch their budget out “by a couple of hundred” a week. He says offering more is “on the table” but they haven’t made any offers yet. Stefanie Bousboureli, inspecting at Chippendale Stefanie Bousboureli moved to Sydney from Greece a month ago, to study for her Masters. In two words, she says finding a place to rent in Sydney is “very hard”. “Everywhere I go, there are like 100 people trying to inspect the same place. I wasn’t expecting this,” she says. With unseasonably warm autumn weather, Bousboureli says she feels like she is wasting perfect Sydney weekends at house inspections rather than seeing the city’s sights. “I would much rather be at the beach.” The Money with Jess newsletter helps you budget, earn, invest and enjoy your money. Source: https://www.smh.com.au/national/nsw/the-faces-of-sydney-s-rental-crisis-20230316-p5cson.html