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A series of eight shops in Cabramatta, in Sydney’s outer west, have been listed for sale for the first time in 50 years.
The 553 square metre freehold block in the predominantly Asian suburb, is expected to sell for more than $3.75 million plus the GST.
The property consists of shop 206, 207 and 208 Railway Parade and Shops 7 to 17 John Street.
The tenancies are a Happy Cup franchise, a convenience store, a Vodafone outlet, a boot maker, Western Crusty Bread, Pho Viet Restaurant and hair salon.
There is also a vacant one-bedroom flat above the shops.
All the shops are occupied but the tenants are on expired leases.
According to the 2011 census the suburb 32.6% of residents there were born in Vietnam, 9.4% in Cambodia and 5.2% in China, though 27.7% had Chinese heritage. Some 92.9% of respondents had both parents born overseas.
In 2006 31.2% of census respondents were born in Vietnam, 9% in Cambodia and 5.5% in China, though 15.1% spoke only Cantonese at home and 4.9% spoke Mandarin.
It is being sold by Bookallil Investments (Cabramatta) Pty Ltd.
The current gross annual rental (excluding the vacant flat) is around $300,000 plus GST.
It goes to auction on Tuesday June 25. It is being sold by Raine &amp; Horne agent Michael Laing.
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awalsh-7Ub9EypybQ

Tightly held Vietnamese restaurant block up for grabs in Cabramatta for $3.75 million plus

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Prospective tenants at Melbourne’s new $670 million fruit and vegetable wholesale market have sought an injunction on lease signing through the Victorian Supreme Court yesterday.
The Melbourne Market Authority is relocating the Footscray Road market to a new site in Cooper Street, Epping but the tenants are facing rents almost double what they are currently paying.
The 108 traders at the Footscray Road site are under pressure to sign leases at the new site before May 31 or risk losing their allocation when the leases go to national tender in June.
Just two of the traders have already signed.
The tenants, represented by Nunzio Lucarelli QC, accused the Melbourne Market Authority of “unconscionable conduct” under consumer law by pressuring them to sign at much higher rents, The Australian Financial Review reported.
They told Justice Peter Vickery rents will rise from $273 per square metre annually to $478 per square metre annually and tenants who also require warehouse space are being asked to sign leases without knowing the details of the storage space.
“They are being asked to commit to one part of the puzzle without knowing the other part of the puzzle,” Lucarelli reportedly told the court.
He said the MMA are using “pressure or unfair tactics” to “corral” the stallholders into signing the leases.
But the MMA, represented by Michael Wyles SC, said the dispute was not open for the court to decide as the market was implementing government policy.
He said even a short injunction could delay the market opening until 2015.
The case will be decided on Friday.
The new market facility has been fraught with controversy as rents increase and the number of stall holders is reduced.
The Weekly Times Now reported the annual market turnover could fall could fall from $1.6 billion to $600 million.
It reports the market is too small to accommodate all standholders - 480 down to about 216 – with some standholders going from having 20 stands to just one.
Stall sizes will reportedly be reduced from 21 square metres to 17.28 square metres while the aisles are too small to allow trucks inside or let fork-lifts turn around.
But none of the information is official and standholders say they are being left in the dark.
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West Melbourne wholesale fruit and veg stallholders seek lease injunction over site relocation

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An unnamed capitalist in the Goldman Sachs elevator was allegedly heard chatting about the importance of hedging at their estate in the Hamptons, home of the most expensive real estate in America.
They were presumably running late to head for the Hamptons where the start of summer season kicked off last weekend on Memorial Day. 
<img src="/images/stories/2013/05/tweetofthedaymay29.jpg" width="470" height="308" alt="tweetofthedaymay29">
The Hamptons are home to some of the most decadent of Memorial Day weekend celebrations. One catering company was offering a $25,000 bottle of Dom Pérignon chilled during a 10,000-foot free-fall and served by a skydiver. It's not known if anyone was silly enough to incorporate it within their celebrations.
Property Observer gleans Hampton home-owners there are reportedly worried by the influx of young party-makers driven north by the devastation of Jersey Shore caused by hurricane Sandy.
It was recently revealed that billionaire mayor of New York, Michael Bloomberg bought a house and a vacant block next to his 14-hectare estate Southampton.
And Jennifer Lopez reportedly just spent $10 million on an <a href="https://www.forbes.com/sites/trulia/2013/05/14/jennifer-lopez-buys-10-million-mansion-in-the-hamptons/">eight-bedroom custom mansion</a> in Water Mill.
The Twitter account is a satirical exposé of the lifestyle and hubris of America's best-payed bankers.
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Tweet of the day: Hamptons gossip overheard in Goldman Sachs lift

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A Melbourne development site and film production studio has sold for $3.5 million.
The Elsternwick property (pictured below) at 15-19 Gordon Street, in Melbourne’s inner south comes with a two-storey office and a laboratory that was formerly occupied by Cinivex Film Laboratories and most recently by production company Deluxe.
{yoogallery src=[images/stories/2013/05/may22deluxe]}
It was sold by Agent Grange Property Consultants director Joel Wald who negotiated the off market sale on behalf of Elsternwick Properties Pty Ltd.
The 1,160-square-metre site is opposite Elsternwick train station and close to the Glen Huntly Road retail precinct.
It was bought by a Melbourne-based purchaser who is considering its options including a continuation of the current use and possible development of the site.
It comes with more than 20 car spaces.
Deluxe have worked on films such as The Sapphires, which was filmed in New South Wales and Vietnam.
And the property is <a href="https://www.realcommercial.com.au/property-offices-vic-elsternwick-500541927" target="_blank">up for lease by Colliers</a>.
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Melbourne development site and film production studio sells for $3.5 million

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An American mid-west style barn-cum-house in a semi-rural location remains on the market after being listed for more than a year.
The Americana dream house in Garfield, 70 kilometres south-east of Melbourne, was listed for sale by a vendor with a passion for all things Americana.
He built the house at <a target="_blank" href="https://cranbourne.ljhooker.com.au/F3ZFBS">440 Fourteen Mile Road</a>, which is ideal for horse owners, on top of a barn in classic American style.
Upstairs is a four-bedroom residence with timber floorboards, dark-tiled bathroom and a large kitchen for large American meals.
LJ Hooker agent Graeme Dimsey <a target="_blank" href="https://www.propertyobserver.com.au/victoria/midwest-american-style-barn-on-the-market-in-garfield-victoria/2012060755035">had been expecting to sell the property for $1.3 million</a> on its initial listing. The price is curently undisclosed.
In January it was listed for rent at $600 per week, according to RP Data.
Much of the wood used on the property is reclaimed timber from a jetty in Queenscliff.
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Victorian Americana barn: trophy barn listing

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Harry Triguboff opened the doors of his private mansion estate in Vaucluse to Channel Seven’s Today Tonight earlier this month.
In a five minute <a target="_blank" href="https://www.youtube.com/watch?feature=player_embedded&amp;v=DqqdPi2tHBQ">segment</a> Triguboff showed reporter Laura Sparkes around his “little house” while discussing his secrets to success.
<img alt="triguboffmay27two" height="260" width="470" src="/images/stories/2013/05/triguboffmay27two.jpg">
During the slot he revealed his limited edition Bentley (pictured below), one of only two in Australia.
<img src="/images/stories/2013/05/triguboffmay27one.jpg" width="470" height="289" alt="triguboffmay27one">
He discussed how money doesn’t actually mean that much to him beyond making business easier.
“You have to work hard. The more money you have the harder you have to work, that’s for sure. If you think that by having money you work less you soon won’t have it,” Triguboff says.
He tells Sparkes his success came from having one idea and he stuck to it.
“I never built even one cottage. I never went into subdivision. I never went into commercial. I only stuck to one thing,” he told Today Tonight.
“I saw that was where the movement was. And I saw it 50 years ago, not today. And I had lots of fights because they were telling me how Australians had to have a quarter acre block but I told them that’s not true. Some do and some don’t.
“It used to be the dream. So what? They can’t do it.”
He says the apartments are like his babies and he loves them all.
Triguboff says part of the secret to his success is having the cash to do what he wants without being badgered by lenders.
“I need money to make money to grow. To buy blocks of land at $100 million a pop you have to have money.”
“It’s very hard if you have to run to the bank to ask for money because they will start telling you ‘can you afford, can’t you afford it? Is it good is it bad’. This way I don’t have to talk to anyone. I have the $100 million and I do what I like.
“When I grew up no one had that kind of money so none of us knew it. It was just the evolution of time. And it is hard to conceive because how much money do you really need?”
He runs the company according to his whims and Triguboff has last say in all decisions.
“I listen to everybody. I ask their opinion I listen to it and then I decide and that’s what we do.”
Having just turned 80 Triguboff plays down speculation of retirement.
“I feel very well. I felt very well when I was 20 and I am feeling very well when I am 80. Mind you I can’t run as fast and I can’t swim as fast,” Triguboff says.
“I think that you should try and do everything you could as long as you can. You work as long as you can, you drive as long as you can, you run around with women as long as you can.
“I will retire when I become useless and I will the first to understand that. And I will be very quick in retiring.”
He says there will no slowing down for him or Meriton.
“The opportunities are bigger, the country is bigger. More money.”
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Meriton's Harry Triguboff shares his business secrets - no cottages, no subdivision

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An iconic Sydney bar and microbrewery on King Street Wharf has been listed for lease transfer.
King Street Brewhouse, formerly known as James Squire Brewhouse, has been listed for lease transfer six years after the current owner leased the premises.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2013/05/brewhousemay17one.jpg" alt="brewhousemay17one" width="470" height="336">
He says there has been international interest in the property ranging from restaurants, liquor retailers, local publicans, property investors and everything in between. Given the current interest in the sale he says it is hard to gauge a  price.
According to the information memorandum for the property strong historical tenancy demand in the area has average rents at between $1,500 to $2,000 gross per square metre in comparable premises.
Graeme Thompson, the vendor, has been running the pub independently of James Squire who abruptly left the business in 2010, taking its brewing license with it.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2013/05/brewhousemay17two.jpg" alt="brewhousemay17two" width="470" height="402">
<a href="https://rca.joneslanglasalle.com.au/property-hotel+leisure-nsw-sydney-500729743" target="_blank">The 24-hour pub</a> operates as a restaurant, bar and microbrewery. In the year ending December 2012 it made $3.6 million in profit, down from $4.3 million the year before.
 
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In April 2013 a new brewing license was approved and the microbrewery has restarted operations as Red Tape Brewing. It reportedly earns a 92% profit on all self-brewed beer sold in the premises.
The license reportedly took some time to grant due as the ATO would not grant a new licence due to past tax debts relating to another venture in Melbourne which has ceased operations.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2013/05/brewhousemay17three.jpg" alt="brewhousemay17three" width="470" height="320">
Graeme Thompson obtained the lease for $14 million, according to lease transfer documents. Though listing agent John Musca says the sale was complicated and may not represent its true value. It was last valued at $22 million in 2007.
The 1315 square metre site is on a 99-year lease from the Waterways Authority which was signed in 2000. All other land within the King Street Wharf precinct has head leases from the Waterways Authority to Brookfield Multiplex.
The pub, next to Bungalow8, Nicks Seafood and Grill, Malaya Restaurant, Cargo Bar, is one the largest tenancies available on King Street Wharf.
The premises have five areas all serviced by one U-shaped wraparound bar over two levels separated by few internal steps and there is an extensive beer garden.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2013/05/brewhousemay17four.jpg" alt="brewhousemay17four" width="470" height="313">
The site has the potential to be licensed for 900 people.
The information memorandum for the listing says the only recent comparable sale was the Pier 26 venue nearby (now known as Helm Bar) which sold for $17.5 million at an initial yield of 9.8% and with a turnover of $87,970 per week at the time of sale. It was sold by Listed company Amalgamated Holdings to Sydney hotelier Peter Wadsworth.
The lease term at the time of sale was 80 years and the operating floor area an estimated 700m2.
 
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<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2013/05/brewhousemay17five.jpg" alt="brewhousemay17five" width="470" height="312">
Businesses in the area are known to pay in excess of $1.5 million per annum in rent.
The microbrewery has four 800 litre holding tanks with a capacity for production of 41,600 litres per annum.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2013/05/brewhousemay17six.jpg" alt="brewhousemay17six" width="470" height="303">
It is reportedly being sold due to the “recent ill-health of the owners and their inability to manage the business, and more-so drive the business, coinciding with the vacation of James Squire, also had an understandable negative effect on revenues and earnings”.
It is being handled by Jones Lang LaSalle Hotels and Hospitality national director John Musca.
The site is right next to the multi-billion-dollar Baranagaroo development and is expected to receive a significant number from patronage from workers at site and later residents.
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Former James Squire Brewhouse on King Street Wharf listed for sale

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Nearly half a million people in WA have indicated they plan to move house in the next three years with a strong push by renters looking to buy, according to the Australian Bureau of Statistics.
Most (87%) of the 491,000 adults planning to move want to stay within WA, according to the results of the 2012 WA Housing Motivations and Intentions Survey released today. The remainder will either move interstate or overseas or were unsure where they would move.
Just over half of those looking to move within WA were renters.
Most people looking to move within WA said they would prefer their next dwelling to be a separate house.
Of those looking to move, just under half had lived in their current home for less than two years and a 24% had lived in their current home for between two and five years.
Of the 429,000 adults planning to move within WA, 47% planned to move within the next 12 months.
And 61% intended to move within the Greater Perth area, with 4% to move from elsewhere in WA to Greater Perth.
Appearance and layout was a decisive factor when choosing a new place to live for just under half those looking to move while 44% said a better quality residence was important.
Familiarity with an area was a strong influence when choosing their future location for 42% of future movers within WA, while being close to family or friends and access to facilities and services such as shops or schools mattered to 38%.
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Half a million WA people looking to move but 87% intend staying within WA

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Beleaguered coal baron Nathan Tinkler, who just dropped off the BRW Rich List, has listed his $5.2 million mega-mansion on a four hectare acreage outside Brisbane. 
Rebecca Tinkler bought the property in 2007 for $5.2 million. It's among several trophy homes owned by the family.
Last year Tinkler came 34th on the BRW Rich 200 with estimated net wealth of $915?million, but this year he fell under the $235?million threshold.
It is being sold by Benjamin Smith and Kel Goesch from BrisbaneRealEstate.com.au.
Fairfax Media reports the house is likely to resell for between $4 million and $5 million at its June 15 auction.
The seven-bedroom, five-bathroom estate comes with a vast array of features to keep any buyer occupied for months. The Pullenvale home in nestled in the hills 15 kilometres west of Brisbane.
It has a resort-style spa and pool with two waterslides and a poolside bar. The pool area leads into the professional gym and sauna room.
Inside the 1600 square metre house there is an 18-seater home cinema which is currently furnished with an arcade style basketball game and a state of the art sound system.
Outside is a floodlit champion size tennis court for night time games of tennis and pictures reveal a private golf green at the front of the four hectare block.
There are also stables and paddocks  for a number of horses if the purchaser is an equine enthusiast.
There is a 3,500 bottle climate controlled cellar seating inside for 12 people. And most of the guests will be able to stay given there is parking for 9 cars and a separate guest quarters two bedrooms and one bathroom.
And to keep the kids entertained there is a children's playground area.
Inside, as well as the exceptionally well appointed kitchen there is a teppanyaki bbq grill with seating for eight people.
There is a pool room which features arcade games and a four-seater bar. Guests enter the house by walking past the waterfall which cascades into a welcoming pond.
Tinkler has spread his collection of sports memorabilia and Hollywood minutia around the timber-floored house.
Tinkler currently retains homes at Merewether in the Newcastle beachside precinct and his $11.5 million oceanfront mansion on Sapphire Beach, Noorinya. 
Noorinya sits at the top of the list of Nathan Tinkler's private property assets, should he seek further funds to get himself out of his current business liquidity situation.
But having paid $11.5 million, it's in a league of its own when it comes to the prestigious second home coastal market.
The mining magnate smashed the mid north coast record in 2008 when he purchased Noorinya, on a Sapphire Beach headland, for $11.5 million from Microsoft pioneer Jaybe Ammons.
Noorinya, with 1.8 hectares of private headland, comes with lap pool and a secluded beach.
The following year Stockland’s David Pitman and ABN Amro’s Simon Perrott purchased oceanfront properties from developer Barry France on the next headland along at Sapphire Beach.
{qtube vid:=BYSuZ5PkBg8&amp;feature=plcp}
 
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 Ammons and his wife, Shelly, had spent about $2.75 million on the site amalgamation, including a $1.85 million purchase from hospital industry operator Paul Ramsay in 1999. Locals say the family used it regularly during the early years of ownership, but not much recently since the family relocated from their Newcastle base to Singapore.
Last June the Hunter Sports Group boss Troy Palmer was the immediate direct beneficiary of his boss Nathan Tinkler’s decision to quit Newcastle for Singapore.
Palmer bought one of Tinkler’s redundant beachside Merewether properties (pictured below) for $2.8 million – at under the commonly believed market value.
<img src="/images/stories/2012/06/bermer.jpg">
Tinkler bought the four-bedroom, three-bathroom 2006-built Merewether house for a then bullish record-setting $4.3 million in 2008 from the rugby league legend Andrew Johns.
Palmer’s same-day exchange settlement was in wife Emma’s name last month. The 34% price drop shocked several estate agents. “It turns out Nathan Tinkler's sale was a 'friendly deal', so should be seen as out of line by valuers,” one agent tweeted.
<img src="/images/stories/2012/06/bermerflicker.jpg">
Prior to working at the Tinkler Group, the Newcastle-born and raised Troy Palmer was the chief financial officer of Bluetongue Brewery, another well-known Newcastle organization.
Palmer was responsible for the acquisition of the Newcastle Knights and Newcastle Jets.
Tinkler retains his other Merewether holding, a two-block 1,587-square-metre amalgamation overlooking Bar and Dixon Park beaches, which cost an $8.8 million total in 2008. Locals reports it’s been in limbo since a development application for a six-bedroom Rosie Stollery-designed compound was approved in June 2011.
Video source LJ Hooker, 2008 marketing campaign
Video prepared by HTM Digital
 
 
 
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Nathan Tinkler lists indulgent Brisbane acreage mansion 

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The Australian Bureau of Statistics isn’t all just number bods – they’ve released a mobile game that lets users take control of Australian neighbourhoods.
Run That Town allows users to take control of any town in Australia and control it using real census data.
<img alt="runthattownjune19one" height="603" width="400" src="/images/stories/2013/06/runthattownjune19one.jpg">
Users will have to consult with locals to make popular decisions, start projects and tackle vital issues.
Players of the <a target="_blank" href="https://runthattown.abs.gov.au/">iPhone and iPad only app</a> can then read about their exploits in the local paper.
<img alt="runthattownjune19two" height="604" width="400" src="/images/stories/2013/06/runthattownjune19two.jpg">
“Have you ever thought your town could be run better? Why don’t we put you in charge,” the game asks.
“What kind of leader will you be? Will you be treated to a ticker tape parade, or chased out of town by an angry mob?”
It works for any postcode in Australia.
<img alt="runthattownjune19three" height="606" width="400" src="/images/stories/2013/06/runthattownjune19three.jpg">
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Run your neighbourhood with ABS game

For most new apartment buildings, the Owners Corporation starts life with little more than a bank account and the first quarterly strata levies.

At <a href="https://www.apartments.com.au/buildings/9-gay-street-castle-hill-9-gay-street-castle-hill-nsw-2154">9 Gay Street</a> in <a href="https://www.apartments.com.au/developments/castle-hill-nsw-2154">Castle Hill</a>, it starts with around $7 million in reserve.

It's an unusual legacy of what was once one of Sydney's highest-profile apartment remediation projects. When the development, originally known as Skyview and built by disgraced developer Top Place, came under scrutiny by then NSW Building Commissioner David Chandler, an $11 million remediation bond was negotiated to ensure any building defects could be fully rectified.

The building underwent an 18-month remediation program, during which around $4 million of that bond was spent bringing the building up to the standard it should have been in from the outset.

After extensive inspections, all active rectification orders have been lifted. What's more, around $7.2 million remains secured for the Owners Corporation for the next 15 years.

In a twist few would have predicted, what began as a significant concern for purchasers has left the building with something almost unheard of in the apartment market: a multi-million-dollar financial reserve from day one.

[smartcode_project:default project_id=147685 project_image_fid=359136]

<a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a> Executive Chairman Greg Huxley said the structure offers buyers a level of certainty that is difficult to replicate.

"The $11 million bond established for the Skyview Castle Hill development represents exceptional value, providing genuine financial security for purchasers," Huxley said.

"Unlike a standard insurance policy, this bond consists of real funds held in trust for the Owners Corporation, offering a tangible layer of protection and added peace of mind."

The apartments themselves have been designed with a focus on practical, contemporary living. Interiors feature Smeg appliances, stone benchtops, tiled living areas, carpeted bedrooms, 2.7-metre ceilings, floor-to-ceiling glazing, and ducted heating and cooling throughout.

Residents also have access to a range of shared amenities, including two rooftop barbecue areas, a swimming pool, children's playgrounds, secure building access, storage cages, and visitor parking.

The location continues to be one of the project's strongest drawcards. Castle Hill Metro Station sits virtually on the doorstep, providing direct connections across Sydney's expanding Metro network, while Castle Towers offers extensive retail, dining, entertainment, and service amenities within walking distance.

[smartcode_project:default project_id=147685 project_image_fid=359127]

The building, now named after its location at 9 Gay Street, comprises a diverse mix of one-, two-, and three-bedroom apartments starting from just under $600,000.

Equitifund National Sales Director Ben Hamblett said demand in the Hills District continues to be driven by buyers seeking convenience and connectivity.

"Interest from both owner-occupiers and investors in Castle Hill remains exceptionally strong, with buyers consistently prioritising developments in close proximity to the Metro station and Castle Towers Shopping Centre," Hamblett said.

"There is a clear trend in the market, with purchasers seeking convenient access to transport and lifestyle amenities that support a seamless, low-maintenance way of living."

On top of the long-term protection afforded by the remaining $7.2 million bond, Equitifund is offering a limited-time stamp duty rebate on selected apartments.

Eligible purchasers can also secure finance options, including a 3.99 per cent two-year variable rate, loan-to-value ratios of up to 90 per cent, and interest-only lending options through EquitiCredit.

[smartcode_project_cta:default project_id=147685]

Joel Robinson

Why this Castle Hill apartment building starts with a $7 million advantage

For much of the past few years, conversations about Australia's property market have centred on the rapid growth seen in Sydney, Brisbane, Gold Coast, and Perth. <a href="https://www.apartments.com.au/developments/melbourne-vic-3004">Melbourne</a> has followed a different trajectory.

That relative underperformance is now encouraging some buyers to reassess the city, particularly those willing to look beyond short-term market movements and focus on quality property in established locations, along with the long-term growth prospects of a city expected to overtake Sydney as Australia’s most populous.

John Bekiaris, Research &amp; Market Insights at <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Projects by Equitifund</a>, said Melbourne's current position is attracting increasingly sophisticated purchasers.

"Melbourne continues to present one of Australia's strongest long-term investment stories," Bekiaris says.

"While other capital cities have experienced stronger recent growth, that relative underperformance is exactly what's attracting sophisticated counter-cyclical investors."

[smartcode_project:default project_id=1979 project_image_fid=363268]

Equitifund isn't just commenting on Melbourne's property market, it's investing in it.

The Sydney-headquartered capital partner has taken over the remaining apartments at <a href="https://www.apartments.com.au/buildings/victoriana-melbourne-20-queens-road-melbourne-vic-3004">Victoriana</a>, the recently completed glass-encased development opposite Albert Park Lake in Melbourne's tightly held St Kilda Road precinct.

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and built by <a href="https://www.apartments.com.au/builders/hickory">Hickory</a>, Victoriana places residents between one of Melbourne's most recognised parklands and the CBD, offering oversized two and three-bedroom apartments aimed at owner-occupiers seeking a genuine alternative to a traditional family home.

The development comprises 232 completed residences alongside a suite of resident amenities, including a 25-metre indoor swimming pool, gymnasium, landscaped entertaining areas, resident lounges, EV charging, secure basement parking and a concierge-style arrival experience.

[smartcode_project:default project_id=1979 project_image_fid=363229]

The apartments have been designed with owner-occupiers firmly in mind.&nbsp;Open-plan living and dining areas flow onto generous balconies framing views across Albert Park Lake, Fawkner Park, the Royal Botanic Gardens and the Melbourne skyline.

Kitchens feature Gaggenau appliances, stone benchtops and generous preparation space. Bedrooms include built-in robes, while bathrooms feature full-height textured tiling. Hardwood flooring and ducted air conditioning complete residences designed for long-term living.

Rothelowman's architecture takes its cues from the landscape opposite the site. Sweeping horizontal glazing references the movement of Albert Park Lake, while generous balconies and expansive glazing strengthen the connection between the apartments and the surrounding parklands. The result is a building designed to deliver the scale and amenity expected of luxury apartment living, while offering the larger floorplans increasingly sought by owner-occupiers.

[smartcode_project:default project_id=1979 project_image_fid=363284]

The location is one of Victoriana's defining characteristics. Positioned on Queens Road, residents are directly opposite Albert Park Lake and within easy reach of Fawkner Park, the Royal Botanic Gardens, South Melbourne, St Kilda Road and the CBD. With few comparable development opportunities remaining in the precinct, buyers are increasingly placing value on outlooks that are unlikely to be interrupted by future construction.

Greg Huxley, Founder of Equitifund, believes those qualities become even more valuable over time.

"Premium real estate has always rewarded buyers who take a long-term view," Huxley said.

"Victoriana represents the kind of asset that's increasingly difficult to recreate today, particularly in an established location like Queens Road."

He said rising construction costs are also changing the way buyers assess completed developments.

"When you combine an irreplaceable location with thoughtful architecture and premium finishes, you create something that becomes increasingly difficult to reproduce as construction costs continue to rise."

[smartcode_project:default project_id=1979 project_image_fid=363228]

According to National Sales Director Ben Hamblett, enquiry has been driven largely by Melbourne downsizers and buyers upgrading from smaller apartments.

"Interest in Victoriana continues to build, with strong buyer focus on the larger owner-occupier residences within the development," Hamblett says.

"Enquiry is increasingly driven by local buyers who recognise the rarity of what's on offer: park-facing apartments in an established neighbourhood where new development opportunities are becoming increasingly scarce. At Victoriana, the view is not just a feature; it's an appreciating asset in its own right."

He said interstate enquiry has also strengthened as buyers reassess Melbourne's position within the national property cycle.

"Melbourne currently stands as the most compelling entry point of any major Australian capital, and discerning buyers are beginning to recognise what those who move early always understand: the best opportunities are taken before the price rise confirms them."

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Why now is the time to buy in Melbourne's premium apartment market

Developers and apartment buyers have a narrowing window of opportunity before Brisbane's Olympic infrastructure pipeline begins competing directly with residential construction, pushing up costs, tightening labour supply and making new projects increasingly difficult to deliver.

While Brisbane's apartment market continues to benefit from strong population growth and limited housing supply, industry research suggests the years leading up to 2027 could prove to be the most important period for developers looking to secure builders and buyers hoping to purchase before the next wave of price increases.

A new Colliers report, Brisbane 2032 Olympic and Paralympic Games: Creating Solutions, highlights the scale of the challenge. While thousands of new homes are planned across South East Queensland, the Brisbane Olympic Athletes Village alone will deliver more than 10,500 beds during the Games before being converted into around 1,750 to 2,000 apartments. Equivalent to almost two years of typical inner-city apartment supply, the project will also absorb a significant share of the construction workforce and building materials.

The broader construction pipeline paints an even clearer picture.

Construction Skills Queensland's Horizon 2032 report forecasts Queensland's annual construction pipeline will average $69 billion over the coming years before peaking at $75 billion in 2027-28. Demand for construction workers is expected to increase by 17 per cent to almost 150,000 people, with the industry facing an annual shortfall of around 19,000 workers that could blow out to as many as 35,000 during the peak construction period.

The Olympic venues, athletes village and supporting infrastructure will account for billions of dollars worth of work across South East Queensland through to 2032, creating intense competition for labour at a time when Australia's residential construction sector is already under pressure.

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Colliers Queensland Residential Director Andrew Scriven said the convergence of these projects is creating a clear window of opportunity for both developers and buyers.

"From 2027 onwards, the market will shift dramatically," Scriven said.

"Labour will increasingly be locked into government-led infrastructure and Olympic projects, which means private residential developments will face higher costs and tighter margins. The developers who move now are the ones most likely to get projects off the ground."

Scriven said the same dynamic would also affect buyers, with fewer apartment projects expected to launch once construction capacity tightens.

"If you're looking to change your lifestyle over the next five years, now is your window of opportunity to buy."

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Developers are already positioning themselves ahead of that window.

Following the success of Monarch at Toowong, Consolidated Properties is preparing to launch two new Brisbane apartment projects in the second half of 2026. They include <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> at Yeerongpilly Green, a 25-storey tower within one of Brisbane's key Olympic precincts, and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a recently approved 25-storey riverfront development at 47 Skyring Terrace in Newstead.

Hutchinson Builders will deliver both projects, with early works already underway at Yeerongpilly and Newstead expected to commence later this year.

The timing comes as Brisbane's fundamentals continue to strengthen, with strong interstate migration, population growth and vacancy rates remaining below 1.5 per cent.

Colliers Queensland researcher Pragya Sharma said Greater Brisbane is forecast to require around 40,000 new apartments between 2021 and 2031.

"There's a real mismatch emerging between when housing is needed and when it will be feasible to build," Sharma said.

"As a result, the period leading up to 2027 presents a key window of opportunity for developers to secure approvals, funding and construction capacity, while buyers will have greater choice before supply constraints intensify."

Colliers research outlines a critical pre-2027 window to start residential projects before labour squeeze: now is the time to buy

Developers, buyers on watch in South East Queensland ahead of construction crunch: Colliers

It's taken less than nine months for developer Sherpa Property Group to sell out all 51 apartments in its <a href="https://www.apartments.com.au/new-apartments/flourish-oasis-palm-beach-7-9-sixth-avenue-palm-beach-qld-4221">Flourish Oasis</a> development in <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>, over a year before its anticipated completion.

&nbsp;

Located at 7-9 Sixth Avenue, the $67 million development has resonated strongly with both local owner-occupiers and downsizers seeking high-quality apartments within walking distance of the beach, dining precincts and everyday amenities.

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Christie Leet, Founder of <a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Group</a>, said the sell-out reflected both the strength of the Palm Beach market and the success of Sherpa's community-first approach to development.

"The sell-out of Oasis is a fantastic outcome and reinforces the strong demand we're seeing for thoughtfully designed apartments in lifestyle locations," Leet said.

"From the outset, our vision was to create a development that genuinely enhanced the Palm Beach community while providing residents with exceptional homes and wellness-focused amenities.

"We've been incredibly encouraged by the level of local support throughout the campaign, 72.5 per cent of buyers are locals, with a significant proportion of purchasers choosing Oasis as their future home rather than an investment."

[smartcode_project:default project_id=151449 project_image_fid=357463]

Construction is now progressing following development approval, with trusted builder LPS Group delivering the project and completion anticipated in Q3 2027.

Oasis forms part of Sherpa Group's successful Flourish collection, which has become recognised for its focus on wellness, community and elevated coastal living.

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Residents will have private access to a rooftop amenity space featuring a pool, gym, sauna, steam room, hot and cold plunge pools, spa and barbecue facilities.

"The success of Oasis demonstrates that buyers continue to prioritise quality, location and lifestyle," Leet said.

"We are proud to have delivered a project that has resonated so strongly with the market and look forward to bringing Oasis to life for our future residents."

Sherpa recently launched <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a>, its third instalment of the Flourish brand in Palm Beach following Flourish Oasis and <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>.

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Sherpa sells out Flourish Oasis in booming Palm Beach

Urban Property Group's <a href="https://www.apartments.com.au/new-apartments/la-vera-macquarie-park-94-talavera-road-macquarie-park-nsw-2113">La Vera</a> is leading the next phase of Macquarie Park's residential evolution, with the new apartment development set to become the first of several new apartment projects in the precinct to complete.

The 169-apartment building has now topped out ahead of its scheduled completion in the third quarter of 2026, as new residential investment continues to reshape one of Sydney's largest employment hubs into a true mixed-use precinct.

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Cox Architecture has designed La Vera to capture the best of its unique positioning on Talavera Road, orienting the building towards Lane Cove National Park.&nbsp;The building features a sculpted northern façade with flowing curves inspired by the surrounding landscape, while its city-facing elevation adopts a more structured architectural expression to maximise skyline views.

"The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park," <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> Director Felipe Miranda said.

"The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies."

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La Vera offers a diverse mix of one, two, three, and four-bedroom configurations, with prices currently starting from $740,000. Buyers so far have been a mix of Sydney-based investors,&nbsp;metro commuters, owner-occupiers and downsizers from surrounding North Shore suburbs.

Both investors and owner-occupiers have been drawn to La Vera's proximity to Macquarie University, Macquarie University Hospital, Macquarie Centre and the Sydney Metro, infrastructure that supports both strong rental demand and a convenient lifestyle for residents.

The apartments feature full-height glazing, timber flooring throughout living areas, stone kitchen benchtops, SMEG appliances, floor-to-ceiling bathroom tiling and ducted air conditioning.

Residents will have access to a rooftop recreation level featuring a swimming pool, sauna, barbecue facilities and landscaped relaxation areas, complemented by additional communal space at ground level. Many apartments enjoy uninterrupted views across Lane Cove National Park, reinforcing the project's connection to its natural setting.

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<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>, a family-owned developer and builder with nearly four decades of experience, holds a 4.5-star iCIRT rating and was Australia's first developer to introduce 10-Year Latent Defects Insurance (LDI). La Vera is the first apartment development in <a href="https://www.apartments.com.au/developments/macquarie-park-nsw-2113">Macquarie Park</a> approved to offer the additional insurance protection, alongside a five-year warranty on SMEG appliances.

Urban Property Group CEO Patrick Elias said the additional protection reflects changing buyer expectations in the off the plan market.

"Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share," Elias said.

Following completion of the building later this year, buyers will move into their apartments well before Christmas.

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Alistair Walsh

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