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A Singaporean-based developer plans on building 1,000 apartments on the site of Melbourne’s former Carlton &amp; United Breweries where a wall collapse killed three people last week.
Chip Eng Seng’s high-rise development will be built on a 2,927-square-metre block on the southwest corner of the site, incorporating a two-storey, heritage-listed bluestone building.
It will include a street level retail space, a number of podium levels of secure parking and two levels of basement car parking, according to information released on the Singapore Stock Exchange this week.
It recently bought the parcel of land from Grocon for $32 million.
The purchase is subject to review by the Foreign Investment Review Board.
The company recently posted record profits of SIN$81 million for the year ending December 31 2012.
It has been quite active in the Melbourne market, with its local arm CEL last year selling out its 338-unit MacKenzie Street development, 33M, and construction due to start on its <a href="https://www.propertyobserver.com.au/victoria/melbourne-cbds-tallest-residential-tower-crown-tussle/2013022858541">$170 million 71-storey development, Tower Melbourne, at 150 Queen Street</a> in the middle of the year.
CEL bought the MacKenzie street block for $20.2 million in 2010 and the Queen Street development for $25.5 million in 2011.
The MacKenzie Street development sold out in eight months. Construction of the 555-unit Tower Melbourne is due to finish in 2016.
Tower Melbourne was the <a href="https://www.propertyobserver.com.au/developments/singapore-developer-cheeky-for-selling-unapproved-melbourne-cbd-high-rise-project-off-the-plan-lord-mayor/2012101657194">subject of some controversy</a> with the developers marketing properties before it had received development approval.
The wall collapse last week, which some parties blamed on excessive signage, was on Grocon’s part of the CUB site. The site has remained undeveloped for almost 30 years with Grocon’s $800 million development, Swanston Square, struggling to get off the ground.
Building was due to begin in July last year.
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Singaporean developer to build tower at Melbourne's CUB site

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Australian economists mostly agree that the Reserve Bank of Australia’s decision to <a href="/news">leave the cash rate on hold at 3% yesterday</a> likely signifies the end of any further rate cuts this year.
They tend to agree too that while the easing phase has come to an end, any cash rate increases are unlikely to happen again soon.
Commsec’s Craig James says, “With home prices and share prices lifting and global risks dissipating, the Reserve Bank would also be loath to keep super low interest rates in place too long”.
But he adds it’s too early for the RBA to be flagging potential rate hikes either later this year or early next year.
He says the easing bias is still appropriate both to highlight the risks that still exist in the global economy and to sustain momentum in the domestic economy.
Commsec expects the RBA will keep rates unchanged for the next six months and says there is a very small chance it will cut the rate again but this is becoming increasingly unlikely.
“If the Reserve Bank was to cut rates in the next few months it would likely be prompted by fresh global turmoil, especially combined with evidence of weaker US and Chinese growth, low domestic inflation and a high Australian dollar,” James says.
“An interest rate hike would only be contemplated if there were solid evidence of stronger US and Chinese economic growth, firmer domestic growth, greater confidence of a lift in investment outside the mining sector and greater upside risks for Australian inflation.”
HSBC chief economist Paul Bloxham described yesterday's rate-hold as “tactically dovish”.
He says given the high Australian dollar, it’s prudent for the RBA to be dovish, but that it doesn’t necessarily mean it will follow through with further cuts.
“With demand already picking up in the interest-rate sensitive sectors of the economy, we remain of the view that the easing phase is done,” Bloxham said
He offered no prediction of how long until the next cash rate increase.
ANZ said the easing bias is increasingly tactical with it increasingly unlikely that they will cut rates again.
ANZ expects the RBA will maintain its bias towards further easing if the non-mining economy does not pick more strongly but it probably won’t cut rates further.
“While we still view a rate cut mid-year as a distinct possibility, in part because this will follow the next read on businesses’ capital expenditure intentions, the chances of a cut occurring appear to have diminished. Nevertheless, we see little risk of a rate rise this year as some are predicting.”
 
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Economists agree RBA easing cycle may be over but increases to the cash rate not imminent

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The New Jersey house where Bruce Springsteen wrote his breakthrough album Born to Run has been listed for sale.
The Boss, who has just completed his tour of Australia, rented the cottage in the 1970s and wrote the album from 1974 to 1975.
<a href="https://www.susanmclaughlin.com/address.php?property_ID=149" target="_blank">The asking price is US$349,000</a>, which could be tempting for those looking to re-live the glory days of Bruce Springsteen.
The vendors of the house (pictured below) are hoping the buyer doesn’t take a wrecking ball to the property and are keen to see it preserved as a piece of rock'n'roll memorabilia.
<img alt="springsteenapril3one" height="338" width="470" src="/images/stories/2013/04/springsteenapril3one.jpg">
The Boss spoke about living in the house in the documentary Wings for Wheels: The making of Born to Run. In the documentary, Bruce returns to the house and reminisces about it.
He says it’s the first house he ever lived in by himself.
You can watch the clip where he talks about the property here.
The five-bedroom, one-bathroom property covers 77 square metres and is just 200 metres from the beach.
Presumably, Springsteen sometimes wandered down to the beach to gaze over the sun rising over the Atlantic Ocean to see the light of day.
<img alt="springsteenapril3two" height="320" width="300" src="/images/stories/2013/04/springsteenapril3two.jpg">
It has a front porch, a small fenced yard and a patio, but no secret garden. It is zoned commercial-residential so buyers could turn it into anything from a <a target="_blank" href="?option=com_googlesearch_cse&amp;q=restaurant">restaurant</a> to a four-storey office building.
Springsteen says he played piano in one of the front rooms while composing the album.
Potential buyers are also offered the option of buying a one third share of the property. There are currently three owners of the property with two willing to share a third ownership.
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Ultimate rock'n'roll souvenir: Bruce Springsteen's former home listed

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Knight Frank has created a special sales team specifically targeting wealthy Chinese investors following the introduction of the significant investment visa (SIV)
The head of the team, Dominic Ong, says the 888 visa - colloquially called the "Golden Ticket" visa -favours Chinese investors.
“Although the rules of the SIV specifically exclude direct investment in real estate, SIV applicants are allowed to invest in an unlisted managed fund that holds Australian direct property assets and/or a trading business/ company,” Ong says.
Investors can invest $5 million in approved investments for four years and be eligible for permanent residency.
No SIVs have been issued by the Department of Immigration since the program was launched at the end of November last year.
A spokesperson for the department told Property Observer last month that, 287 expressions of interest had been processed, with 131 invitations to apply issued by late February.
Interest has been concentrated on investments in NSW, Queensland and Victoria.
There are no English speaking requirements, but applicants must stay in Australia for at least 160 days within those four years and the applicant, spouse and dependent family members can live in Australia immediately after approval.
The Knight Frank team includes Chinese born agents and people with experience dealing with Asian investment.
Ong says the creation of division is imperative for Knight Frank with the massive spending power of the Chinese and the increasing presence of China’s wealthy individuals and funds in the Australia commercial market.
“With the recent Sydney purchases of the Sydney Water Board site ($100 million), 231 Elizabeth Street ($201 million), 1 York Street ($117 million), 10 Barrack Street ($62.5 million), 333 Kent Street ($48 million), 80 Alfred Street ($49 million) and the Palazzo Versace Hotel in Queensland ($68.5 million), Chinese investors are becoming even more prominent on our local shores,” Ong says.
He predicts Chinese spending overseas is increasing and won’t peak for another five years.
“During my recent visit to Shanghai and Beijing, we are seeing Chinese investors increasingly looking to diversify their portfolios and they view Australia as a safe haven and a long term investment destination,” Ong says.
“We are currently working with some 20 groups of Chinese investors sourcing office towers and shopping centres to hotel investment and land development projects.”
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Knight Frank launches significant investor visa team ahead of Chinese investment influx

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The Melbourne property market looks softer compared with other capital city markets, the Reserve Bank of Australia has noted in its March 2013 Financial Stability Review.
The report found Melbourne could be prone to an oversupply of stock.
“Although housing loan arrears rates are currently low across most parts of Victoria, the outlook for the Melbourne property market appears to be softer than for other large cities and some banks have signalled that they will be alert to any signs of deterioration in asset performance,” says the RBA.
“The current stock of land for sale is at a high level and building approvals data point to increases in the stock of housing, and potential oversupply, in some parts of Melbourne, particularly the inner-city apartment market.
“This is on top of previous strong supply of detached housing in the outer suburbs. The increase in the stock of housing is consistent with Melbourne dwelling prices declining further and recovering less of their earlier decline than prices in most other capital cities have done.” 
According to Residex, Melbourne recorded a modest 0.28% rise in house prices during February. It puts the median house value at $556,500 now, unchanged from a year ago.
For units, Residex found median prices increased 0.62% over February to $426,000, up just 0.51% over the year. Rents have remained unchanged over the year.
And according to RP Data the Melbourne market has been going nowhere for the last 12 months with house prices up just o.58% over the year.
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Melbourne property market softer than other capital cities: RBA

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A quirky art deco building in <a href="/news">Malvern</a>, in Melbourne’s inner south-east, has passed in at auction and remains on the market.
The building, currently the site of an obstetrics and gynaecology clinic, has been held in the same hands for the last 30 years.
Kliger Wood agent Nick Breheny expected the property to sell for more than $1.5 million. It passed in on a vendor bid of $1.55 million.
The two storey brick structure on 214 square metres even features its own clock tower.
As well as possible rental potential the building has a small advertising sign that currently brings in $1900 per year.
Breheny says <a href="https://www.realcommercial.com.au/property-retail-vic-malvern-500629143" target="_blank">the building</a> will most likely be bought by a potential owner-occupier or as an investment for consideration for mixed use conversion.
Co-agent Lou Montalti says it’s hard to gauge a rental yield as it most suits an owner occupier.
It comes with a 5.6 metre street frontage and is currently licensed for medical occupancy.
The property has is set up with a ground floor reception, two consulting rooms and toilet amenities.
On the first level there are four more consulting rooms and a kitchen and toilets.
“There are a number of options for this prominent building ranging from refurbishment and redevelopment with the permits secured, to leasing it out as the permit for use as medical consulting rooms remains in place,” Breheny says.
“This property enjoys a key location on the western side of Wattletree Road close to the Glenferrie Road corner with the immediate area providing an array of prominent retail, services and popular food outlets.”
Inside, the building features a striking spiral staircase.
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Quirky Malvern art deco medical building still on the market with $1.5 million plus hopes

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Plans for the $2.5 billion redevelopment of Darling Harbour have been unveiled by the NSW state government.
Plans lodged reveal a vast network of public spaces including a convention centre, a grass-covered exhibition centre and a theatre. The project will also include new public gardens, 1,400 apartments, a 2,000-person ballroom and a new 680-metre tree-lined boulevard.
The Darling Harbour Sydney International Convention Exhibition and Entertainment precinct is now open for public exhibition by the NSW Planning and Infrastructure department’s major projects division.
Eventually the project, being built by <a target="_blank" href="/companies/lend-lease">Lend Lease</a>, will include an 900-room international hotel but plans have yet to be lodged.
The 33-metre-high terraced convention centre (pictured below) will provide 40,000 square metres of exhibition space and a 5,000-square-metre outdoor deck.
<img alt="darlingmarch27one" height="226" width="470" src="/images/stories/2013/03/darlingmarch27one.jpg">
Lend Lease describes the project as a “distinctly Sydney experience”, with architect Ken Maher from Hassell enhancing Sydney’s public spaces through water engagement, green spaces, children’s playground and activities, pedestrian connections and cycle networks.
Chief Executive Officer of Darling Harbour Live, Malcolm Macintyre, says the project will reinvigorate the precinct, reconnecting the area north to south and east to west.
“Our design approach has been to ensure we don’t have an isolated precinct within the city but one that knits the city together through its activation, scale and density, and importantly provides more public space and parkland,” Macintyre says.
“It will add more public space, a new residential neighbourhood at the heart of the city, and new links to the surrounding neighbourhoods.”
<img alt="darlingmarch27two" height="311" width="470" src="/images/stories/2013/03/darlingmarch27two.jpg">
 
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The convention centre is expected to be finished by 2016, with the current convention centre, built in the 1980s, staying open until 2015.
Deputy premier Andrew Stoner told News Ltd the development would deliver $5 billion to the economy, providing 3700 construction jobs and ongoing employment for 4000 people.
"It is just 450m away from Central and 700m from Town Hall stations, yet the precinct has always felt as though as it was disconnected from its <a href="/news">Haymarket</a>, <a href="/news">Ultimo</a> and <a href="/news">Pyrmont</a> neighbours," he told News Ltd.
"The masterplan creates strong pedestrian links with the north-south boulevard and five new east-west pedestrian connections through the precinct.
"It aligns the light rail stops with entrances to the new facilities to improve pedestrian flow."
The plans will extend Tumbalong Park by 3000 square metres to 11,000 square metres and will include an outdoor event space for 25,000 people.
<img alt="darlingmarch27three" height="315" width="470" src="/images/stories/2013/03/darlingmarch27three.jpg">
The 20-hectare site for the project is bounded by the light rail line to the west, Harbourside shopping centre and Cockle Bay to the north, Darling Quarter, the Chinese Garden and Harbour Street to the east, and Hay Street to the south.
Haymarket, the residential and commercial precinct to the South, includes building envelopes between six and 40 storeys across six plots.
The neighbourhood is due to be completed from 2016 through to 2023 by Lend Lease in a separate development, will include 1400 apartments, with accommodation for 1000 students, and possibly a library.
The plans are on exhibition at the <a href="https://majorprojects.planning.nsw.gov.au/index.pl?action=view_job&amp;job_id=5752" target="_blank">Planning website</a> until May 10.
 
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Sydney's Darling Harbour redevelopment plans unveiled

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A high-rise project in Perth remains in limbo after a planning commission delayed ruling on possible height limits.
Developers Golden Group hope to build a series of skyscrapers up to 53-storeys high on the <a target="_blank" href="/news">Belmont</a> Park Racecourse site, on the Great Eastern Highway, but the West Australian Planning Commission was reportedly set to cap the height at 30 storeys.
But the commission recently asked for further information from the state architect and the City of Perth before making a decision, according to the minutes of a meeting.
A planning officer had recommended that the commission endorse the plan subject to conditions including a reduction of the maximum building height to 30 storeys.
<a target="_blank" href="/news">Perth’s</a> tallest building is Central Park on St George’s Terrace at 51 storeys.
<a target="_blank" href="https://www.goldengroup.com.au/developments/perth-developments/perth-race-course">Golden Group’s plans</a> include 4,500 new dwellings, 31,000 square metres of retail space and 60,000 square metres of office space all on 22 hectares.
The $3.5 billion plans were designed by architect firm Foster + Partners.
The project design consists mainly of residential towers between four and 13 storeys tall with a few taller towers up to 53 storeys high.
A spokesperson from Golden Group was unwilling to talk about the project but confirmed the group was waiting on the commission's ruling.
Golden Group managing director Andrew Sugiaputra had previously said that according to the state government’s 2031 document, more than 320,000 dwellings were needed to cater for Perth’s growth, with 47% provided by infill development in the metropolitan areas.
“Extensive public consultation had been undertaken by our team and relevant stakeholders have provided support for our development in its current form,” Sugiaputra told The West Australian.
Sean Morrison, chairman of Future Perth, a development advocacy group in WA, said any height limits imposed would be an outrage.
“It seems to me that some bureaucrats have plucked this 30-storey limit out of the air to try and maintain the Perth CBD’s phallic bragging rights,” he told The West Australian.
“We don’t have caps on urban sprawl so why should we have caps on inner city residential developments?”
The site is three kilometres east of the Perth CBD, just over the Swan River.
The state government is spending $140 million rebuilding the nearby train station which also service Burswood Casino.
The site, in <a href="/news">Burswood</a>, is currently one of the two major horse racing venues in Perth.
The median unit price in Burswood is $697,500 according to RP Data, dropping 5.4% over the past year.  The median asking rent is $380 per week, giving a gross indicative yield of 2.8%
The median house price is $789,000, increasing 11.3% over the past year. The median asking rent for houses is $1,050 per week, giving a yield of 6.9%.
Premier Collin Barnett had hoped to use the site to build a new 60,000 seat stadium, but has shifted plans to south of the Graham Farmer freeway.
Any height limits would be in stark contrast to the direction Melbourne is taking, with state planning minister <a target="_blank" href="https://www.propertyobserver.com.au/victoria/tallest-building-in-southern-hemisphere-approved-for-melbourne/2013031759915">Matthew Guy recently approving the tallest building in the southern hemisphere</a>.
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Perth skyscraper plans in limbo as height ruling delayed

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{qtube vid:=7xHweZamJjU&amp;feature}
This week on Purchase or Pass we analyse a potential property and talk about the pros and cons before making judgement on whether it will make a good investment.
This week we have <a href="https://www.domain.com.au/Property/?adid=2010270309" target="_blank">a two-bedroom and one-bathroom unit</a> in a small block of nine, directly opposite the beach, about 11kms from the Sydney CBD. All you have to do is cross the street. The unit has a lock-up garage and there’s an opportunity to park a second car on the driveway in front although this is not officially on the title. The unit is on the first storey of a three storey walk up and gets $650 a week in rent. The major grey area from an investment perspective is that it’s a company title, although there have been discussions to changed it to strata title.
Chris Gray: John, I guess the first thing to try and identify is what is company title? Most people just think of <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/friday-march-15-ear-purchase-of-pass-a-coogee-apartment-with-high-strata-fees/2013031259840">strata</a> title but there’s still quite a few company titled properties out there, aren’t there?
John Edwards: If you have an interest in a unit that is strata titled you have got an interest in your own unit and you can do pretty much whatever you like to it within the rules of the body corporate that governs the block of units that your unit is in. However if you have a company title you own a share in a company which owns the building or the block of units. The consequence of that is that you don’t have any great say in what you can with your unit at all. In fact you are at the behest of the directors of the board that governs that particular company title so that might mean for example they don’t like the tenant that you’re about to put in your unit or they might say they don’t like tenants at all. So there are some negative issues. However, if you can buy a company titled block of units, and buy the whole lot and then convert it to strata title you’re going to make some serious money.
Chris Gray: That’s the thing. It could easily change it by 10% or maybe even 20% if you’re lucky.
John Edwards: It’s probably more likely that you’d get 10% to 20% rather than 0% to 10%.
Chris Gray: I guess one of the main issues is with the company title properties, because generally it was an old way of doing things, it’s typically the really old owners that are actually 60 or 70 that are actually on the board of directors so for new youngsters coming in they quite often don’t like the youngsters, they don’t like the renters. So they’re the kind of people that might be blockading you and there’s nothing you can do.
John Edwards: But strategically what you might like to do is to find a company title which is predominantly owned by these older people and live in it as long as you can. You probably don’t have a life expectancy less than theirs.
Chris Gray: Wait for them to die?
John Edwards: You could progressively pick them all up and you will make a lot of money in the process of renovation and rejuvenation and the conversion to strata title. And these old blocks are usually very good for conversion.
Chris Gray: Specifically this block they’ve actually been talking, because you can do a strata check or a company title check, and there’s actually discussions about converting it. Obviously there’s no guarantee but as long as you can afford to hold on then you can get the bank finance which may only be 70% rather than 80% or 90%, so if you’ve got the cash you can hold on then maybe it’s a great opportunity.
John Edwards: You are making a good point there. The bank financing of these blocks is more difficult than what it is if it wasn’t company title. So there are some things.
Chris Gray: Obviously it’s right opposite the beach, there’s some fantastic views that we’ve seen. How would you analyse getting something 55 square metres, which is pretty small but right opposite the ocean, versus going something a block back but maybe having 70 square metres.
John Edwards: Well the view is worth more than going a block back, let me put it that way. The smaller floor area I don’t think is particularly relevant in all of this because at the end of the day the people who are going rent this out and pay you decent rent are more interested in the beach. They’re not interested in staying at home and reading a book.
Chris Gray: Exactly. So purchase or pass for you?
John Edwards: I purchase.
Chris Gray: Now this unit isn’t for everyone. It’s company title can be restrictive, however if you’ve got a long term focus and have the ability to put down more money as a deposit then I think this could be a cracking property with never to be built out views. I love unique properties such as this and if they convert to strata title it will be even greater so I’m definitely going for a purchase as well.
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Purchase or Pass? Company title unit opposite the beach in Sydney with John Edwards

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Mudgee has confirmed its hotspot status with house prices increasing 17.22% over the year ending January 2013, the biggest price growth of all regional New South Wales areas, according to Residex.
The median house price in the area is now $299,500, with prices increasing 9.46% per year over the last 10 years. Prices increased 1.99% for the year ending January 2012.
Rents increased 16.13% over the last year to $360, giving yields of 6.28%.
And sales figures increased 15.09% to 497 sales.
It’s the second time Mudgee has hit the headlines recently, after <a href="https://www.propertyobserver.com.au/new-south-wales/mudgee-leads-list-of-10-top-performing-nsw-housing-markets-with-prices-up-744-residex/2012092556782" target="_blank">being declared the top-performing NSW housing market in September last year</a>.
<a href="/news">The historic area</a> is in the central west of New South Wales, 270 kilometres north-west of Sydney.
As a wine growing district with more than 40 wineries, the town attracts holiday makers and has a well-established hospitality sector.
The gold rush town has kept many of its heritage buildings with a number of historical buildings on the state heritage list.
It also benefits from nearby mining activities with six nearby resources projects tipped to open in the next three to five years.
Click to enlarge
<a href="/images/stories/2013/03/mudgeemarch22.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2013/03/mudgeemarch22thumb.gif"></a>
“We’re in the fortunate position where we have quite a bit of mining nearby but not on our doorstep so we have the economic benefits but not the cosmetic problems with mining,” local agent Bruce McGregor from Raine &amp; Horne told Property Observer.
“We have a strong history of investment. We’re fortunate to have pushed first-home buying 25 years ago and once you start that it flows and flows. Our investment in new homes has been driven by outside investors to some extent. The benefits of depreciation on a new home and government assistance has appealed to people from outside our area.
He says most of the vacant rental properties on the market right now are furnished serviced properties which cater to cyclical contract workers on nearby mine sites. He says their rental books show a vacancy rate at around 3%.
 
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A two bedroom home at <a href="https://www.realestate.com.au/property-house-nsw-mudgee-113126271" target="_blank">8 Gladstone Street</a> (pictured below) on 727 square metres has just sold for around $255,000. It last sold for $73,500 in 2001, according to RP Data.
<img alt="mudgeemarch22one" height="349" width="470" src="/images/stories/2013/03/mudgeemarch22one.jpg">
Agent Scott Fittler from Raine &amp; Horne Mudgee says the property could rent for $320 $340 per week, giving a potential gross rental yield of 6.93%.
And a four bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-mudgee-113306311" target="_blank">162 Denison Street</a> (pictured below) on 1,036 square metres is listed for $375,000. It last sold for $317,000 in 2010 according to RP Data.
<img alt="mudgeemarch22two" height="351" width="470" src="/images/stories/2013/03/mudgeemarch22two.jpg">
Agent Chandelle Woods from Professionals Mudgee says the property has a rental potential of $395 per week, giving a potential gross rental yield of 5.48%.
Meanwhile, the Blue Mountains had a bad year, with house prices dropping 2.14% in the year to January 2013, the biggest drop in regional New South Wales. They fell 0.2% in the previous year. Rents have stayed flat while sales numbers dropped 3.47%.
But long term statistics have confirmed the New South Wales Central Coast as the worst performing rural housing market in Australia over the last 10 years.
House prices grew just 1.6% per year on average over the last decade, growing just 0.31% in the year ending January 2013.
 
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Mudgee continues run as NSW regional hotspot

<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.

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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.

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[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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Alistair Walsh

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