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Three out of four current vendors in Juniper Group’s 243 metre tall Soul development in Surfers Paradise are on track to lose money.
Online listings in the building indicate vendors are willing to offload apartments for less than they originally paid.
Unit 505 in the tower is <a target="_blank" href="https://www.realestate.com.au/property-apartment-qld-surfers+paradise-113392671">listed for sale at $1.145 million</a>. It originally sold for $1.2 million in 2012.
Unit 1701 is <a target="_blank" href="https://www.realestate.com.au/property-unit-qld-surfers+paradise-112679159">listed for $1.4 million</a> but it originally sold for $1.6 million in 2007.
And unit 2301 is <a target="_blank" href="https://www.realestate.com.au/property-apartment-qld-surfers+paradise-114608379">listed for sale at $1.5 million</a> after originally selling for $1.63 million in 2012.
But unit 1805 is<a target="_blank" href="https://www.realestate.com.au/property-residential+land-qld-surfers+paradise-2740929"> listed for sale at $2.29 million</a> after originally selling for $1.13 million in March this year.
There are still more than 100 apartments unsold in the building with prices cut by 22%.
The off the plan buyers appear to be stayers.  Resales since completion have been limited - compared to the <a target="_blank" href="https://www.propertyobserver.com.au/queensland/hilton-surfers-paradise-resale-price-collapse-for-but-one-exiting-property-investor/2013082164115">Sufers Paradise Hilton </a>and <a target="_blank" href="https://www.propertyobserver.com.au/news/poor-fortune-for-those-who-went-to-the-oracle-on-the-gold-coast/2013082664548">Oracle </a>- with RP Data listing only two results. Both lost money.
Unit 2701 originally sold for $1.8 million in 2007 but then resold for $1.5 million in February 2011 - a loss of $300,000.
And unit 5305 originally sold for $3.5 million in 2008 but resold for just $1.58 million in 2013.
And the penthouse apartment which was reportedly bought, but not settled on, for $16.85 million in 2007, <a target="_blank" href="https://www.realestate.com.au/property-apartment-qld-surfers+paradise-110320361">is on the market for around $10 million.</a>
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awalsh-7Ub9EypybQ

Three out of four vendors set to lose money in Soul

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Construction rates should increase following the election, according to Commsec’s latest Economic Insights report.
According to data from the Australia Bureau of Statistics construction work done in the June quarter fell by 0.3%, the third consecutive decline.
<img src="/images/stories/2013/08/construction1_aug_29.jpg" width="470" height="328" alt="construction1_aug_29">
Commercial building work done fell by 1.3% with residential work down 0.1% and engineering work fell by 0.2%.
“Businesses aren’t keen to spend, invest or employ ahead of the Federal Election. So the slight fall in construction activity won’t come as a surprise,” Craig James writes in the report.
“But given some expectations that mining investment has peaked and could fall off a cliff; that certainly isn’t happening. Construction work done peaked in the September quarter of 2012 but has only eased gently from the highs."
<img src="/images/stories/2013/08/construction2_aug_29.jpg" width="470" height="356" alt="construction2_aug_29">
“On a positive note the Reserve Bank has few worries when it comes to cost pressures in the construction sector with prices growing at the slowest annual pace in three years. The slight fall in residential building will mean ‘residential investment’ will neither detract nor contribute to June quarter GDP growth."
“Overall economic growth is expected to be around 0.5%-0.8% over the quarter, which would take annual growth between 2.4%- 2.7%."
“Notwithstanding the trend to greater housing occupancy, there here are good reasons to expect a lift in construction work – especially in the residential sector – when the election is out of the way.”
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Construction to lift following election: Commsec

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Commsec says housing already has spare capacity meaning Australia will no longer be building as many houses.
Data from the Australian Bureau of Statistics shows 78% of households have at least one spare bedroom while 18% of those who own their homes outright have three or more spare bedrooms.
<img alt="sparecapacity" height="343" width="470" src="/images/stories/2013/08/sparecapacity.jpg">
“The latest data confirms recent trends showing that there is plenty of spare capacity in our existing homes, even though we have been utilising some of this extra capacity in the past five years. The latest figures have clear implications for the housing industry,” Craig James writes in Commsec’s latest economic insight report says.
“If Australians are keen to utilise their homes more efficiently then construction will be constrained in coming years.”
<img alt="sparecapacity2" height="340" width="470" src="/images/stories/2013/08/sparecapacity2.jpg">
The ABS found the average number of bedrooms per dwelling was unchanged at a record high of 3.11 in 2011/12. In 1994/95 there were 2.88 bedrooms per home.
And the average number of people in a home was steady at 2.57.
At the same time construction work done fell by 0.3% in real terms in the June quarter, after falling by 1.9% in the March quarter and easing 0.2% in December 2012 quarter.
<img alt="romm_at_the_inn__aug_29" height="354" width="470" src="/images/stories/2013/08/romm_at_the_inn__aug_29.jpg">
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Spare rooms so less homes built: Commsec

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Supermarkets were the strongest tenant performers for Westfield this half year with retail sales up 10.1% in the six months to June 30.
Jewellery shops also performed well with sales up 4.1% over the six months.
Discount department store sales were up 3.7%, followed by food catering at 3%.
But things weren’t so peachy for cinemas with sales down 2.3% over the six months. Leisure sales were down 2.1% and department stores are down 1.4%.
Westfield currently have four projects under construction – the Miranda shopping centre is getting a $435 million renovation due to be completed by 2014 to 2015; the Mt Gravatt centre is getting a $400 million renovation due to completed in 2014; it is the design and construction contractor for AMP Capital’s $390 revamp of the Macquarie centre; and the $92 million expansion of the West Lakes centre.
Vacancies are tight with its Australian portfolio 99.5% leased and its average specialty store rent is at $1534 per square metre.
Overall its retail sales growth is at 0.9%.
The Westfield Group had a first-half statutory profit of $515 million, down from the previous year’s $800 million.
Westfield’s Peter Lowy and Steven Lowy said the results were in line with predictions.
“The results for the half year were in line with forecast, reflecting the solid performance from the portfolio, good progress on the current and future development pipeline, and the continuation of asset divestments and buyback of securities,” he said.
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Westfield supermarket tenants perform the strongest

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Meriton boss Harry Triguboff has paid $25 million for a site in Ryde in Sydney’s inner north west.
He plans to build a $200 million 269-unit development on the <a href="https://www.realcommercial.com.au/property-land+development-nsw-ryde-500741387">1.08 hectare site</a> on Church Street.
The site already has approval for a development which pleased the apartment tycoon.
"I started in the suburbs of Meadowbank and Ryde like I started in many other suburbs," Triguboff told The Australian.
"It's a very good site, the plans are approved. It takes longer to get council approvals than to build it. I like the position and I like the fact it's got an approval."
He is expected to start building a series of six to eight storey buildings by the end of year.
The site has three street frontages and potential for water views.
It was sold by CBRE’s Matthew Ramsay, Frank Oliveri and Peter Vines.
Ramsay said he had been on the verge of selling it to a Chinese group.
“We had an offshore group in due diligence that expired and Meriton came in. And we locked up a deal with them in a week or 10 days."
"We have a lot of interest from offshore, and there are four large groups from Melbourne also looking at Sydney properties. As well, a lot of the medium-size developers are taking the next step up and looking at sites worth $30 million to $40 million."
Triguboff reportedly bought the site from the Motive Properties, run by South African Adam Kaplan.</body></html>

Harry Triguboff pays $25 million for site in Ryde

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Larry Kestelman’s LK Property Group is offering more than 600,000 Qantas frequent flyer points with the purchase of units in its developments at Clayton, Caulfield South, Brighton East, Ormond and West Footscray.
For every dollar paid on the deposit and balance of a unit, the developers will credit a frequent flyer account with one point.
<img src="/images/stories/2013/08/qantas-offer-aug-29-one.jpg" alt="qantas-offer-aug-29-one" width="470" height="170">
So if buyers purchase <a href="https://www.realestate.com.au/property-apartment-vic-caulfield+south-114589827" target="_blank">unit one at the 888 Shangri-La development</a> (pictured below) in Caulfield for $629,000 they stand to earn 629,000 frequent flyer points – more than enough for three return first class return flights from Melbourne to Singapore.
{yoogallery src=[images/stories/2013/08/aug29cau]}
The two bedroom flat has a private courtyard, built in robes and an open plan kitchen, living and dining area.
The development is currently under construction.
And <a href="https://www.realestate.com.au/property-apartment-vic-caulfield+south-114589827" target="_blank">unit three</a> is being sold for $639,000 – a reward of 639,000 points.
In the Barkly Place development in West Footscray (pictured below) unit 2.32 is being offered for $460,000 – earning a reward enough for a return first class flight from Melbourne to Paris with a stop in London.
<img src="/images/stories/2013/08/barkly_square_aug_29_one.jpg" alt="barkly_square_aug_29_one" width="470" height="338">
The deal between the developer and Qantas was reportedly struck after more than a year of negotiations.
Kestelman, who also founded internet provider Dodo and owns the Melbourne Tigers basketball team, says there have been hundreds of inquiries about the properties since Qantas emailed details of the arrangement to its members.
“The apartment price is no more or less than they would pay otherwise,” he told The Australian Financial Review.
The developments eligible for the deal include <a href="https://www.494northroadormond.com.au/" target="_blank">494 North Road Ormond</a>, <a href="https://888shangri-la.com/" target="_blank">888 Shangri-La</a>, <a href="https://657brighton.com.au/" target="_blank">657 Brighton</a>, <a href="https://barklyplace.com.au/" target="_blank">Barkly Place</a> and <a href="https://lkproperty.com.au/landing/Dixon/" target="_blank">Dixon Street Apartments.</a>
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Melbourne off-the-plan units sell with bonus Qantas frequent flyer points

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Tourism Australia chairman Geoff Dixon, adman John Singleton and venture capitalist Mark Carnegie have bought Brisbane’s The Exchange Hotel for a reported price around $34 million.
They bought the popular drinking spot, known as The Stockie, from Greg Maitland’s Independent Pub Group who bought the property holding in 2011 for $18 million.
The $35 million plus sale of the 911 square metre site at 131 Edward Street included 25 gaming machine authorities, a late night license, and DA approval for an outdoor terrace.
The pub is the 11th addition to their now $180 million Australian Pub Fund empire, which was co-founded by co-founded by Paddy Coughlan and Andrew Kelly. APF is scheduled for a public listing in the first half of 2014.
Coughlan told The Sydney Morning Herald the latest purchase continued their goal of acquiring pubs underpinned by blue-chip real estate with an upside through superior management practices.
"The purchase price in the $33-34 million represents an entry yield of between 13.5 per cent to 13.9 per cent, with a yet to be activated development application/approval for a new outdoor mezzanine level that will hold an additional 300 patrons," Mr Coughlan said.
"We now own and operate 11 hotels across Sydney and Brisbane with total group revenue approaching $95 million per annum, while current freehold property assets are around $180 million.
In April they bought Brisbane’s Elephant &amp; Wheelbarrow Hotel for $27 million.
They had previously bought Sydney hotels including the Bristol Arms in Sydney’s Sussex Street for $7.7 million which had previously traded in 2006 at $14 million.
This latest acquisition was negotiated off-market by John Musca from Jones Lang LaSalle hotels, according to The Australian Financial Review.
Other pubs in their empire include Kinselas in Darlinghurst, the Toxteth in Glebe, the Bellevue in Paddington, the Vic at Enmore, the Marlborough in Newtown, Unity Hall in Balmain as well as the Como and the Peakhurst Inn in Sydney's south.
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Singo's Australian Pub Fund buy Brisbane’s The Exchange Hotel for $35m-$40m

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Canningvale is Perth’s fifth most searched suburb by buyers, but with a median house price of $626,973 it’s out of reach for many. But Thornlie, just nine kilometres away, has a median house price that is 31% cheaper.
Westpac has compiled a list of ten Perth suburbs where it’s cheaper to buy than in their more popular neighbouring suburbs.
Click to enlarge
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The hidden gem suburbs are close to the popular suburb but have a lower cost median house or unit price. The most popular suburbs were determined by the most searched for suburbs on realestate.com.au.
“Buyers who want to truly own their home sooner can find real value by simply considering a suburb which is just a stone’s throw away from their first preference,” says Westpac’s Gai McGrath.
With a median house price of $700,173 Scarborough is out of reach for many buyers but nearby Innaloo is 11.6% cheaper. For units Churchlands is a better alternative to Scarborough with median prices 25.8% less.
If you wanted to buy a unit in Subiaco you could consider travelling just two kilometres down the road to Wembley where the average unit price is 47% cheaper.
You could own your home 22 years and four months sooner and save $308,307 in purchase price and $171,057 in interest repayments over time, according to Westpac.
Click to enlarge
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 Picture courtesy of commons/flickr.
 
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Subiaco too expensive? Try buying in one of Perth's 10 hidden gem suburbs instead

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If you can’t afford a house in Baulkham Hills, ranks among Sydney’s most popular suburbs, it's suggested you consider travelling just eight kilometres down the road to Seven Hills where the average house price is 34% cheaper.
Westpac has compiled a list of ten Sydney suburbs where it’s cheaper to buy than in their more popular neighbouring suburbs.
Click to enlarge
<a rel="shadowbox" href="/images/stories/2013/08/sydney-houses-aug-27-big.gif" title="Click to enlarge"><img src="/images/stories/2013/08/sydney-houses-aug-27-small.gif"></a>
The hidden gem suburbs are close to the popular suburb but have a lower cost median house or unit price.
“Buyers who want to truly own their home sooner can find real value by simply considering a suburb which is just a stone’s throw away from their first preference,” said Westpac’s Gai McGrath.
If Mosman is out of your budget then Cammeray is a suitable alternative, according to Westpac. With a median house price of $972,674 it is 43.2% cheaper than Mosman. For units though, Neutral Bay is the better alternative but only marginally – it’s just 1.7% cheaper than Mosman.
Manly Vale house prices are 47.1% cheaper than in the ever popular Manly while the units are 35.4% cheaper.
If you wanted to buy a unit in Baulkham Hills, you could consider travelling just four kilometres down the road to Northmead where the average house price is 16% cheaper. You could own your home 10 years, 9 months sooner and save $81,165 in purchase price and $130,520 in interest repayments over time, according to Westpac.
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Sydney's 10 hidden gem suburbs priced up to 47% cheaper than their expensive neighbours

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The proposed East West Link in Melbourne has stirred up a lot of controversy particularly after a recent assessment from Melbourne City Council found it would irretrievable claim 6% of Royal Park and increase traffic along certain areas.
And there have been<a target="_blank" href="https://www.propertyobserver.com.au/victoria/collingwood-s-east-west-link-buying-dilemma/2013080163570"> ripples in the housing market</a> in places like Collingwood which will be home to a freeway off-ramp.
<a target="_blank" href="https://www.propertyobserver.com.au/developments/doubt-cast-over-jardin-australand-parkville-project-but-evo-buyers-caught-in-east-west-link-plans/2013071663349">Developers are nervous</a> about the multi billion project which could affect a number of off-the-plan developments.
But the state government says it will halve travel times from the Chandler Highway to the Citylink. 
<a href="https://twitter.com/UrbanMelbourne" target="_blank"><img src="/images/stories/2013/08/tweet_of_the_day_aug_27_three.jpg" width="470" height="170" alt="tweet_of_the_day_aug_27_three"></a>
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East West Link should be subject to same scrutiny as smaller projects

<a href="https://www.apartments.com.au/developments/broadbeach-qld-4218">Broadbeach</a> offers plenty of reasons to live vertically, but moving from a substantial family home into an apartment can expose the compromises of high-density living. Privacy, room for guests and usable living space tend to matter more when an apartment is intended as a permanent home rather than an occasional coastal base.

A typical residential floor at <a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a>, on Surf Parade,&nbsp;contains just four apartments. The 94-residence development by <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> is predominantly made up of expansive three-bedroom homes, with a limited collection of half-floor penthouses above.

Across the apartment floors, <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has used the relatively limited number of residences to give each home greater access to natural light and outlook. Living spaces extend towards full-height glazing, while a series of bay windows frame selected views across the Pacific Ocean, city and hinterland rather than treating the building edge as a continuous wall of glass.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360965]

“The apartment floors deliver a collection of homes that embrace controlled outlook via a series of bay windows deliberately framing moments of view,” Rothelowman Director Kim Lowman said.

From outside, those projecting forms contribute to the tower’s faceted profile. Strong horizontal and vertical elements establish its proportions, while the changing position of the sun alters the light, shadow and reflection across the façade throughout the day.

The same attention moves inside the apartments, where the material palette combines warm timber, natural stone, metallic detailing and softer curved forms. Kitchens sit within the main living zone, with stone island benches, integrated joinery and European appliances, before the living areas extend towards the glazing and the outlook.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360981]

Three genuine bedrooms provide room to accommodate family and guests, while two secure car spaces and storage address some of the practical considerations that can become more noticeable when moving from a larger home. Feedback from the display suite has centred on the warmth and restraint of the interiors, with buyers commenting that the residences feel like homes rather than conventional coastal apartments.

A limited collection of half-floor penthouses occupies the upper levels, increasing the scale of the living spaces and adding private balconies and elevated finishes. From this position, the outlook extends between the ocean and hinterland.

Outside the private residences, The Eveleigh separates its shared spaces between the podium and rooftop. The podium is centred on wellness, with subtropical landscaping surrounding a swimming pool and pool terrace, yoga garden, private gymnasium, sauna and hot and cold plunge facilities. Landscaped retreats and pavilions provide additional places to sit away from the main recreation areas.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360966]

Higher in the building, a rooftop pavilion and private dining suite sit alongside resident lounge, barbecue and outdoor dining areas, opening towards panoramic views across the ocean, city and hinterland.

“Buyers are no longer just looking for an apartment, but a lifestyle where they can relax, reset, and enjoy a balanced way of living,” Hirsch &amp; Faigen Director of Sales Matt George said.

Interest to date has come from established owner-occupiers and interstate lifestyle purchasers, including buyers planning a future move to the Gold Coast. Many are coming from larger homes and want to reduce ongoing maintenance without giving up space for family and guests, privacy, two car spaces or the ability to entertain at home.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360969]

Much of that daily life can also take place beyond the building without requiring a drive. Kurrawa Beach and Pratten Park are an easy walk from Surf Parade, while Pacific Fair, Oracle Boulevard, The Oasis, restaurants, cafés, entertainment and public transport are also within walking distance.

The Eveleigh is Hirsch &amp; Faigen's fourth Gold Coast development since entering the market in 2021, following The Hemingway at Palm Beach, The Emerson at Kirra and Yves at Mermaid Beach. Each of the preceding projects sold out before completion.

“Broadbeach had been on our radar throughout our time operating on the Gold Coast,” the developer said. “Following our projects in Palm Beach, Kirra and Mermaid Beach, Broadbeach represented the natural next step for the business.”

The Surf Parade site brought together proximity to the beach, protected coastal outlooks and walkability to dining, shopping and recreation. Hirsch &amp; Faigen also identified the street as an emerging premium residential address, with enough separation from Broadbeach's busier destinations to retain a quieter environment at home.

The Eveleigh is now under construction by Maxcon, with completion forecast for mid-2028. Three-bedroom residences are currently available from $2.87 million.

[smartcode_project_cta:default project_id=149670]

Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

A long-stalled Campbelltown development site is back in play, with new plans for 139 apartments set to supersede a mixed-use scheme approved almost a decade ago but never built.

The new proposal for 28 Cordeaux Street would deliver 116 market and 23 affordable apartments in a part 14-storey building, bringing a substantial new project into a Campbelltown market where new apartment supply remains limited.

Plans have been filed over the 3,092 sqm corner site at Moore-Oxley Street, around 600 metres from Campbelltown Railway Station and the city-centre retail core.

The site already carries a mixed-use residential approval dating to 2016. Doroch Architects has now been engaged on a larger replacement scheme, which is progressing as a State Significant Development Application following a Housing Delivery Authority determination in August 2025.

The apartment mix comprises 39 one-bedroom, 72 two-bedroom and 28 three-bedroom residences. Two-bedroom apartments make up just over half of the project, while three-bedroom homes account for 20 per cent.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="136dd5b9-3791-4da6-9e31-76f533f5b4de" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da2.png?VersionId=LgOSy9nwf5u.MGswBBwaGGxuX8QpHSl_" />

Of the 139 apartments, 23 will be delivered as affordable housing under the in-fill affordable housing provisions of the Housing SEPP. The affordable component represents 15 per cent of the residential gross floor area and will be managed by a registered Community Housing Provider.

Doroch has sought to break the scale of the building into two distinct elements, with a masonry podium of around four storeys establishing the street edge before the residential tower steps back above.

The corner position has shaped that approach. Cordeaux Street faces toward the commercial and civic centre, while Moore-Oxley Street leads into the lower-scale residential neighbourhood to the south, and the design verification report describes the site as "bridging the commercial core to the north and established residential areas to the south."

The podium will be expressed predominantly in face brick, while the upper levels shift to brushed and grooved concrete cladding with darker metal detailing. Recessed sections, deep balcony edges and landscaping break down the upper form, with an approximately 11.8-metre setback to the northern boundary addressing the adjoining St Peters Anglican School.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="c8b3d2d3-c561-4bfc-a5d9-a68c0c10dac1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da1.png?VersionId=AeAEyJU02Gk2k5noUj2StziCvdQ7fW4B" />

Campbelltown has been starved of new residential developments in the last decade.

The only other notable development set to come to market this year is ALAND's Queen Square, a mixed-use precinct on over two hectares that will comprise apartments above a vibrant ground-level retail and hospitality dining precinct.

First look: New 139-apartment plans revive long-stalled Campbelltown city centre site

First Look: Sherlock Construction pitches apartments for low-rise Deception Bay

Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

First look at MAYD's North Kirra mixed-use precinct

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Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

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[smartcode_project_cta:default project_id=152737]

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Alistair Walsh

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