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A 125-year old warehouse conversion in a Melbourne laneway, the former home to De Lacy restaurant, has been listed for vacant possession sale.
One of four properties historically known as Marks’ Warehouses, <a target="_blank" href="https://www.commercialrealestate.com.au/property/2010402137/for-sale/vic/melbourne/development-land/offices/retail">29 Niagara Lane</a> was built in the Flemish Medieval style designed by architect George De Lacy Evans.
The 1887-built building is best known as the De Lacey restaurant which ran for 22 years before closing in 2007. It was reopened in 2008 but has since closed again.
{yoogallery src=[images/stories/2013/05/may21niagara]}
Prior to this it operated as a prominent art gallery.
And before it began its life as a gallery it was the home of a cordial and spurious health product import business, as advertised in the image below.
<img alt="niagaramay21one" height="897" width="350" src="/images/stories/2013/05/niagaramay21one.jpg">
In 2006 The Age described the premises as “a classic Melbourne hidden gem oozing potential”.
Agent Peter Moore is marketing the property for use as a hospitality business, retail or showroom use, or for office or residential conversion, subject to council approval. It is zoned capital city 1.
It comes set up as a restaurant with cooking and bar facilities, a cool room, wine storage, a dishwasher and preparation and serving equipment.
The previous owner renovated the property to create a spacious entry, a central kitchen and a high clearance space between the entry and first-floor level.
The renovation included a restoration of the original building facades so the patina of the original building fabric has been retained.
It is one of four warehouses built in 1887 for Henry Marks by builder Daniel Sinclair, according to heritage documents.
“The first floor openings to the main facade are segmental arches, the second storey round arched,” according to heritage documents found in 1980. “In the Queen Anne Revival style, the parapeted gable ends are topped with finials.”
“Internally the floors are of Tasmanian Ironbark. The ceilings are timber-boarded and the floor to ceiling heights are seven metres.
“The buildings still retain their American barrel hoists. The lowest floor is a semi-basement, which allowed the ground floor to be at wagon tray level.”
All four warehouses are heritage listed.
The 98 square metre site has an internal space of 220 square metres.
It is being sold by Melbourne Commercial Group agent Peter Moore. The short notice listing goes to auction on May 31 with a price guide of around $1.8 million.
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awalsh-7Ub9EypybQ

Melbourne heritage laneway building listed for sale

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Development group Stockland will cut 80 jobs as the new chief executive, Mark Steinert, enacts his cost cutting focus, according to The Australian Financial Review.
It reports the $8.6 billion listed property group has cut gross overheads by 10% in the past year and is aiming for another 10% in 2014, with half of that coming from staffing costs and the remainder from better processes and a national approach to procurement.
The cuts follow an announcement by Steinert that cost-cutting would be a primary focus of his regime.
Steinert recently dropped the three ‘r’ focus on residential, retail and retirement, in favour of a focus on medium density residential and retail.
The <a href="https://www.propertyobserver.com.au/australian-capital-territory/stockland-executive-team-shake-up-as-tim-foster-and-mark-hunter-sacked/2013050861155" target="_blank">executive team at Stockland was also given a shakeup</a> recently with the group announcing the departure of chief financial officer, Tim Foster, and head of residential, Mark Hunter.
And Steinert said there was pain ahead for Stockland investors before a recovery from about 2016 onwards with another <a href="https://www.propertyobserver.com.au/residential/residential-recovery-underway-but-more-pain-for-stockland-as-%2449-million-write-down-revealed/2013051261300" target="_blank">$49 million worth of write-downs identified on previously impaired projects</a>.
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Stockland to shed 80 jobs

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Quest Serviced Apartments has appointed a new chief executive officer, hired from within the company.
Zed Sanjana, the general manager of the company since 2011, will be the new CEO.
The role of CEO had formerly been filled by executive chairman Paul Constantinou since he founded the business 25 years ago. He will continue as executive chairman.
Constantinou says it was important to separate the two roles because of the rapid expansion of the business over the last decade.
“There comes a point in the life-cycle of every successful business when rapid growth means you must take stock and work out the best way for the business to move forward,” Constantinou says.
“This appointment will enable me to focus on the strategic direction and growth of the Quest Franchise Network, whilst Zed and his team oversee the day-to-day operational aspects of the business.
The business now has more than 150 properties across Australia, New Zealand and Fiji.
Sanjana says he was looking forward to a new challenge.
“The Quest brand is already one of the strongest amongst business travellers. My appointment now leaves Paul free to accelerate the company’s growth while I manage and balance the needs of our franchisees, employees and guests.”
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Quest appoints new CEO

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Sydney’s weekly auction clearance rate jumped nearly 8 percentage points from the week before, according to RP Data.
RP Data recorded an auction clearance rate of 75.3% for the week, up from  67.7% the week before. 
From a total of 378 it has so far recorded 385 auction results of which 290 sold.
The number may change as more results are counted. 
And according to APM there was a clearance rate of 78.6% over the weekend compared to 69% the week before.
Of the 268 auctions recorded by APM 224 sold at a total value of $185 million. The number may change as more results are counted.
The median sale price for houses was $835,000 and $635,000 for units. Last week it was $920,000 for houses and $617,750 for units.
And at the same time last year the clearance rate was 58.2%.
Two weeks ago APM's initial result of 78% was subsequently revised to 69%.
The cheapest auction sale recorded by APM was a <a href="https://www.realestate.com.au/property-unit-nsw-mount+druitt-113642647">two-bedroom unit on Hythe Street in Mount Druitt</a> which sold for $230,500.
It last traded for $250,000 in 2003, according to RP Data.
APM's Andrew Wilson told APM News on Fairfax Media the Sydney market continues to rise on the back of low interest rates and the nation’s best performing capital city economy.
He says Sydney’s weekend auction clearance rates have averaged 75% since Easter and says the housing market is showing no signs of slowing down.
He says there are signs of a revivial in the prestige market with eight sales above $2 million over the weekend. 
Canterbury Bankstown had the highest regional result on Saturday with a clearance rate of 83% with an average sale price of $628,667. The upper north shore at 81% and the inner west at 80% came close as well. 
And he says demand for apartments close to the city remains strong with the the $1.09 million sale of a <a href="https://www.domain.com.au/Property/For-Sale/Apartment-Unit-Flat/NSW/Haymarket/?adid=2010418931" target="_blank">three-bedroom unit on Quay Street at Haymarket</a>. 
"Sydney’s weekend auction market continues to strengthen with clearly its best autumn performance for three years with just two weekends to the Queen’s Birthday holiday which signals the start of the winter selling season," Wilson writes.
"Although according to last week’s budget national economic performance is predicted to deteriorate, the Sydney economy continues to be a standout. Latest April ABS unemployment data now had the Sydney rate falling to just 4.9 percent- the lowest rate of all the state capitals and more good news for the local housing market."
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Sydney weekend clearance rate jumps 8 points from last week

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Melbourne’s weekend auction clearance rate was 13 percentage points higher than the same time last year, according to the Real Estate Institute of Victoria.
It recorded a clearance rate of 73% at its weekend auctions compared to 60% the same time last year.
It was also up from last weekend which had a clearance rate of 70%.
The REIV says after a small dip in the clearance rate over the school holidays the market has returned to this year’s underlying trend.
It says the recent interest rate cut should help to further boost buyer sentiment over winter.
Of the 617 auctions recorded by the REIV, 453 sold and 164 passed in – 96 of those on vendor bids.
The cheapest house sale recorded was a <a target="_blank" href="https://www.realestate.com.au/property-house-vic-doveton-113587363">three-bedroom, 1-bathroom house on Tristania Street in Doveton</a>, near Dandenong, which sold for $270,000.
In 2011 it was on the market for $290,000 but did not sell, according to RP Data.
According to the REIV, $333 million of property changed hands via auction and $300 million in private sales.
There was a median sale price of $744,500 for houses and $508,750 for units.
REIV’s statistics closely match RP Data’s which found there was a weekly auction clearance rate of 72.7% in Melbourne in the week to May 19. It recorded 596 auction results through the week of which 433 sold.
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Melbourne weekend clearance rate up from last year: REIV

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Ratings for The Block Sky High and House Rules both fell on Wednesday night, according to OzTAM.
The Block fell from 1.308 million viewers on Tuesday night to 1.062 million, slipping from second place to fourth place. It was beaten by The Big Bang Theory and the news offerings from Channel Seven and Channel Nine.
House Rules fell from <a href="/news">803,000 viewers on its launch night</a> to 784,000, but stayed 11th in the rankings.
House Rules again performed the best in Perth, given it’s the site of their current renovation home, ranking third, with the number of viewers increasing from 153,000 to 168,000.
In Adelaide The Block fell from fourth place with 116,000 viewers on Tuesday night to 13th place last night with 76,000 viewers.
The Block performed the best in Melbourne with 394,000 viewers, coming in again at second place but with viewer numbers dropping from 487,000 the night before.
As House Rules airs this week at 7.30pm on Tuesday, Wednesday and Thursday, it will go head to head again tonight for 30 minutes as the The Block Sky High airs weeknights at 7pm for an hour.
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The Block Sky High and House Rules fall in ratings

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The federal government has called on state governments to introduce stamp duty concessions for seniors to help encourage them to downsize.
Federal ministers Jenny Macklin and Mark Butler released a joint statement announcing the <a target="_blank" href="https://www.propertyobserver.com.au/demographics/federal-budget-s-trial-program-encouraging-downsizing-to-smaller-homes-without-affecting-aged-pensions/2013051461357?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=latestnews">$112 million pilot scheme</a> to encourage seniors to downsize and calling for stamp duty concessions to make it work.
“We would also like to see state governments move to assist seniors who wish to downsize by introducing or improving concessions on stamp duty, and therefore removing a further impediment to downsizing,” they said.
The federal budget announcement on Tuesday included a scheme to make it easier for pensioners to downsize their family home by excluding any profits from means-testing for the pension.
Those eligible will be able to invest up to 80% of the net gain from downsizing, up to a limit of $200,000, in a special account which is excluded from means testing for 10 years.
The scheme has been cautiously welcomed by representative bodies but they say that stamp duty remains the biggest impediment to downsizing for seniors.
Groups say stamp duty costs are prohibitively expensive and make downsizing an expensive choice even with this scheme.
The REIA’s Peter Bushby says the scheme is a positive move but it doesn’t go far enough.
“It is most unfortunate that stamp duties as an impediment to downsizing have again been ignored,” Bushby said.
“The Budget has called on the jurisdictions to reform inefficient state taxes including stamp duty. This pays lip service to the need for reform and ignores the leadership role that the Commonwealth should be taking.”
<a target="_blank" href="https://www.propertyobserver.com.au/economy/act-to-lead-federal-budget-downsizing-seniors-home-scheme-given-stamp-duty-concession-availability/2013051561368">ACT is the principal leader in stamp duty concessions for seniors</a>.
Groups are also <a target="_blank" href="https://www.propertyobserver.com.au/demographics/seniors-group-say-swan-s-seniors-house-downsizing-pilot-unlikely-to-work/2013051461362">criticising the stringent restrictions on the budget</a>.
The scheme is only available to people who have owned their home for 25 years or longer.
Mary Wood, executive director of the Retirement Living Council, says “25 years is overly onerous and don’t reflect the needs and circumstances of most aged pensioners”.
Michael O’Neill, chief executive of Nation Seniors Australia, says the special account is restrictive and means pensioners won’t be able to use the money for daily expenses.
The three year trial will commence on July 1, 2014 where senior Australian homeowners who downsize when buying another home will have <big>an option to invest</big> at least 80 per cent of surplus funds remaining (up to a cap of $200,000) <big>in a special account</big>. The funds invested in the account would be exempt from the age pension means test for up to 10 years. The scheme would only be available to Australians over age pension age who have owned their home for at least 25 years.
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Federal government calls for state government stamp duty concessions for downsizing seniors

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James Packer has chosen a winning design for his $1 billion Barangaroo tower, Crown Sydney.
British architecture firm Wilkinson Eyre took the podium with a unanimous decision from the judging panel, which included representatives from Crown, Lend Lease, NSW Department of Planning and Barangaroo Delivery Authority.
Urban Taskforce chief executive Chris Johnson described the Wilkinson Eyre design (pictured below) as a series of interwoven curves that emphasise the vertical form.
{yoogallery src=[images/stories/2013/05/may3barangaroothree]}
The winner is due to be formally announced today, but Packer let the news slip yesterday.
“This city deserves a building that is truly special and the Wilkinson Eyre’s design delivers it. It’s a wonderful moment for Crown,” Packer told The Australian Financial Review.
It was the <a href="https://www.propertyobserver.com.au/news/gone-is-the-hotel-over-the-water-but-crown-s-james-packer-still-harbours-inspirational-architecture-for-barangaroo-hotel/2013050260965" target="_blank">design</a> which polled the highest in our reader survey taking in 60% of the votes. When released it was described as a series of interwoven curves that emphasise the vertical form.
Former Prime Minister and former chairman of the Barangaroo Design Excellence Review Panel Paul Keating had said that all the designs were "heading in the direction of being a significant building for Sydney".
But earlier this month he announced his preferred design options were either the Adrian Smith and Gordon Gill Architecture's sea shell-inspired tower or the Wilkinson Eyre design over the Kohn Pedersen Fox design.
The 60-storey six-star resort hotel and casino still needs approval from the planning department before it can reach Packer’s desired height of 235 metres. The site is currently approved for 170 metres.
Packer wants the tower to be the next Sydney icon, up there with the Sydney Opera House.
I want this building to be instantly recognizable around the world and feature on postcards and memorabilia promoting Sydney,” Packer said.
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Wilkinson Eyre design wins Packer's Crown Sydney Barangaroo tower competition

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The introduction of a federal budget scheme to encourage seniors to downsize their home by quarantining profits from price differences might inspire many empty-nesters to finally make the shift. 
Those in Victoria might be helped by recently published information from the Real Estate Institute of Victoria which shows the most profitable places in Victoria to downsize.
The information shows retirees could unlock hundreds of thousands of dollars by downsizing even within their own neighbourhoods.
The REIV has published <a href="https://reiv.com.au/Property-Research/Census-research/Downsizing" target="_blank">interactive maps</a> which suggest how much money age pensioners could return to their bank accounts by moving to a smaller home in the same area.
Its a handy guide given the <a target="_blank" href="https://www.propertyobserver.com.au/demographics/federal-budget-s-trial-program-encouraging-downsizing-to-smaller-homes-without-affecting-aged-pensions/2013051461357?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news">$112 million pilot</a> to assist age pensioners to downsize their homes by providing a means test exemption of up to $200,000 for ten years.
The scheme only allows people to benefit if they have been in their existing home for 25 years or longer.
<img alt="downsizingapril5one" src="/images/stories/2013/04/downsizingapril5one.jpg" width="470" height="250">
According to the REIV data, pensioners moving from a three-bedroom house in <a href="/news">Brighton East</a> into a nearby two-bedroom unit would unlock $453,750.
In <a href="/news">Mornington</a>, moving from a three-bedroom unit to a two-bedroom unit would unlock $232,500. In <a href="/news">Beaumaris</a>, moving from a four-bedroom house to a three-bedroom house would unlock $290,000.
The study found the suburbs with the greatest downsize potential were those in the inner to middle Melbourne suburbs such as <a href="/news">Kew</a> and <a href="/news">Ivanhoe</a> as well as those along the bay such as in <a href="/news">Sandringham</a> and <a href="/news">Beaumaris</a>. It found those suburbs have a high share of retirement-aged, lone-person households as well as relatively higher house prices.
By downsizing from a four-bedroom home to a three-bedroom home, residents would unlock, on average, $145,000. <a href="/news">Beaumaris</a> was the top in this category, followed by <a href="/news">Parkdale</a>, <a href="/news">Northcote</a>, <a href="/news">Caulfield South</a> and <a href="/news">Williamstown</a>.
Those downsizing from a three-bedroom house to a two-bedroom unit stand to unlock $220,000 on average. Top suburbs for this were <a href="/news">Malvern East</a>, <a href="/news">Essendon</a>, <a href="/news">Williamstown</a>, <a href="/news">Ivanhoe</a> and <a href="/news">Brighton East</a>.
Those downsizing from a three-bedroom unit to a two-bedroom unit stand to unlock $159,000 on average with the top suburbs being <a href="/news">Malvern East</a>, <a href="/news">Mornington</a>, <a href="/news">Kew</a> and <a href="/news">Bentleigh</a>.
REIV CEO Enzo Raimondo said that through downsizing retirees could increase their incomes and remain in the same area they had been living.
“Retirees can take advantage of the 25 or 30 years spent paying off their home loan by downsizing. This research will give them the tools to weigh up the options.
“By downsizing not only do they unlock the wealth generated over 25 or 30 years but they can also access a simpler lifestyle.”
He says downsizing isn’t for everyone, but those that do can access funds to help boost their retirement income.
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REIV offers guidance on likely pocketed price difference when age pensioners downsize Melbourne homes

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The federal budget has introduced a $112 million scheme to help seniors downsize but commentators have noted it doesn't address state government-imposed stamp duty requirements.
Stamp duty costs are one of the biggest impediments to retirees looking to downsize, advocates for change have said in many submissions over the years.
National Seniors chief executive Michael O’Neill says he cautiously welcomes the scheme but says stamp duty remains a hindrance.
"Any innovative attempts to alleviate the everyday living pressures on Australia’s so-called asset-rich, income-poor retirees without penalty are welcome," he said.
"However, rather than the pension assets test, National Seniors research indicates that it’s stamp duty that acts as a disincentive to downsizing.
"After doing the sums, elderly Australians with stairs and big gardens often find they simply can't afford to downsize after being slapped with state taxes and agent fees."
The Combined Pensioners and Superannuants Association of NSW’s reaction to the budget said the scheme was unlikely to work as stamp duty still acts as a major disincentive to downsizing.
Certain states do allow for some stamp duty concessions for seniors and pensioners.
The<a target="_blank" href="https://www.revenue.act.gov.au/home_buyer_assistance/pensioner_duty_concession"> Pensioner Duty Concession Scheme </a>in the ACT assists eligible pensioners downsizing by charging stamp duty at a concessional rate of $20 if the property is worth less than $412,000. To receive the pension applicants must be at least 64.
In 2008, when the scheme was introduced, Chief Minister Jon Stanhope said the step would address housing affordability.
“This will help free up larger homes for younger families, while easing the burden of looking after a larger home for elderly Canberrans who live alone,” he said at the time.
Following the ACT's introduction of the scheme, the select committee on housing affordability in Australia recommended that all state and territory governments consider stamp duty exemptions for first-home buyers and for retirees who are downsizing their primary residence.
It said stamp duty “discourages people from moving to more appropriate housing types as their circumstances change.”
In 2010 the NSW government introduced a stamp duty concession for seniors buying newly built or off-the-plan accommodation, but that ended in July 2012.
NSW currently has a non-targeted <a target="_blank" href="https://www.osr.nsw.gov.au/benefits/grant_scheme/">new home bonus of $5000</a> for anyone buying a newly built home or vacant land.
In Victoria, card-holding seniors are eligible for a<a target="_blank" href="https://www.dhs.vic.gov.au/for-individuals/financial-support/concessions/rates-and-property/stamp-duty-concession"> stamp duty exemption</a> for properties under $330,000 and then a sliding scale discount for properties up to $750,000.
And in the Northern Territory the <a target="_blank" href="https://www.health.nt.gov.au/Aged_and_Disability/Subsidies/NT_Pensioner_and_Carer_Concession_Scheme_NTPCCS/index.aspx">Northern Territory Pensioner and Carer Concession Scheme</a> allows for an $8500 concession for homes under $750,000.
The Northern Territory also has the <a href="https://www.treasury.nt.gov.au/TaxesRoyaltiesAndGrants/HomeOwnerIncentives/PrincipalPlaceofResidenceRebate/Pages/default.aspx" target="_blank">Principal Place of Residence Rebate</a> which is non-means-tested $3500 rebate for those who have previously owned a home in Australia to acquire another home, or land on which it is intended to build a home.
In May 2012 the managing director for residential of Colliers International, <a target="_blank" href="https://www.propertyobserver.com.au/tax/it-s-time-for-a-major-change-to-stamp-duty-peter-chittenden/2012051454690">Peter Chittenden called for major changes to stamp duty</a>.
“Stamp duty concessions for older people downsizing would see more homes in established areas released onto the market and this would also have the impact of better utilising of existing infrastructure, as many of these homes would be in established areas,” he wrote.
The Real Estate Institute of Australia maintains that stamp duty is one of the major impediments stopping people downsizing.
REIA’s Evgeniya Hawthorne <a target="_blank" href="https://www.propertyobserver.com.au/demographics/reluctance-of-baby-boomers-to-downsize-creating-inefficient-housing-market-reias-evgeniya-hawthorne/2012093056577">wrote about the issue</a> in September last year.
“Stamp duty is the largest cost impediment to downsizing. Appropriate policy needs to be developed to encourage more efficient allocation and utilisation of the nation’s housing stock,” she said.
In February National Seniors Australia called for stamp duty relief in WA ahead of the state election there.
In its WA budget submission, National Seniors recommended the incoming government introduce stamp duty concessions for older West Australians who want to downsize.
“Older West Australians feel they have not shared in stamp duty relief in recent years, which has primarily targeted businesses and first home buyers,” National Seniors' June MacDonald said.
The ABC’s Michael Janda wrote in February that there is a general consensus among economists that “the archaic tax” should be relegated to history.
The three year trial will commence on July 1, 2014 where senior Australian homeowners who downsize when buying another home will have <big>an option to invest</big> at least 80 per cent of surplus funds remaining (up to a cap of $200,000) <big>in a special account</big>. The funds invested in the account would be exempt from the age pension means test for up to 10 years. The scheme would only be available to Australians over age pension age who have owned their home for at least 25 years. 
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ACT to lead federal budget downsizing seniors home scheme given stamp duty concession availability

<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.

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“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.

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[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;

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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.

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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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