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Corporate Australia is looking to reduce costs associated with real estate, according to Ernst &amp; Young research.
Companies are cutting accommodation costs, which make up 10-15% of overall costs, according to Ernst &amp; Young Capital Confidence Barometer.
Partner of the company Richard Bowman says any costs associated with owning and occupying real estate are high on the cost-cutting agenda for Australian companies.
“We are seeing tenants reducing the space they occupy and owners selling down any surplus sites they have,” Bowman says.
“Clients want to know what potential levers they have at their disposal to minimise occupancy costs, from fighting market rent reviews, reviewing service contracts through to challenging outgoings such as rates and taxes.”
Bowman says real estate companies should be changing tactics to work with corporate clients.
“The real estate sector should be taking advantage of flexible deal structures to fulfill their growth agenda by using development agreements, joint venturing and extended term contracts to help get deals done,” Bowman says.
According to the report there will an increase in sub-lease office leasing over the next 12 to 18 months will put downward pressure on net effective rents across most parts of the market.
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awalsh-7Ub9EypybQ

Australian companies cutting real estate expenses: Ernst & Young

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A former butcher shop now office boutique office space has been listed for sale in Sydney’s inner west.
The 1890s <a href="/news">Petersham</a> butcher shop now has five commercial offices and a two-bedroom home upstairs.
The corner building is currently home to The Back Room designer outlet.
The property comes with four separate entrances for the various functions.
It is being sold with tenants or vacant possession.
The upstairs residence has two bedrooms, one with a walk-in robe and ensuite. It has a large living area with timber floors and a separate dining area.
The office space opens to a rear veranda and private garden courtyard and the residence opens to an elevated barbecue terrace.
Agent Jennifer Aaron is selling the property with expectations of more than $1.4 million.
Half the property is currently occupied by The Back Room owner, who lives upstairs.
If the property were bought by an investor for $1.5 million the potential yield of the property would be 8.5%-9%.
The vendor has been renovating the property for some time.
Aaron says she has received significant interest from advertising agencies and marketing companies as well as from potential investors.
Aaron says there is scope to reconfigure the property into one residence or to divide into two single-level dwellings, subject to council approval.
The property, at <a href="https://www.domain.com.au/Property/For-Sale/House/NSW/Petersham/?adid=2010069379" target="_blank">74 Palace Street</a>, comes on 227 square metres. It goes to auction on November 24.
The vendor bought the property in 2000 for $550,000. Prior to this it sold for $360,000 in 1995 and $210,000 in 1988.
The property was an entrant in the 2010 Marrackville Medal award, which recognises conservation work in historically significant properties.
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Former butcher shop-turned-office space listed in Sydney's inner west

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The developer of the collapsed Soul Development in Surfers Paradise, Juniper Group, has listed lots in five retail properties in Mooloolaba as part of a massive portfolio sale.
Juniper Group will be selling $100 million of retail property across Queensland following the appointment of receivers to its Soul development.
"The directors have decided to take their retail portfolio, valued in the vicinity of $100 million, to the market," a company spokesperson told The Australian.
"A big proportion is property along the Mooloolaba Esplanade, Mooloolaba, and they will sell commercial and retail property in north Queensland."
Juniper Group has listed 38 lots in <a target="_blank" href="/news">Mooloolaba </a>worth about $30 million. Collectively they earn more than $3 million in rent per year.
The retail shops are all close to the beach in Mooloolaba. Four are on Mooloolaba Esplanade and one is on River Esplanade.
All the lots were built by Juniper since 1997.
Zanzibar retail is a series of 14 shops that are up for sale in one line or individually. Fully leased they earn $1.55 million in rent per year. The arcade comes with outdoor licensed areas.
Zanzibar has a total of 1,099 square metres of net lettable area and includes four ATM tenancies leased to major banks.
Built in 1999, the shops in Zanzibar range from 45 square metres to 156 square metres.
The site value, accessed by the Queensland state government, is $9,300,000 as at June 30, 2012.
The most lucrative tenancy in the development is a 121-square-metre shop leased to Yoghurt World for $242,000.
Aside from the ATM tenants, which pay around $12,000 per year each, the highest rent per square metre in the building is paid by Déjà vu Café &amp;Bar, which pays $2,794 per square metre.
Total forecast outgoings come to $196,745 for the 2012-13 financial year.
Aegean retail is two titles on River Esplanade – a 116-square-metre vacant lot with a projected income of $76,908 and a 30-square=metre lot with a net income of $29,928 from a massage shop.
Malibu is a single 132-square-metre lot with a carpark leased to David Hart Galleries for $200,619 per annum.
Landmark retail is a series of 12 lots in a shopping centre, nine of which are leased, three are vacant.
The lots range in size from 42 square metres to 322 square metres.
The most lucrative lease comes from a restaurant called Bellissimo on 108 square metres plus an outdoor area. It has outgoings of $16,048. Other tenancies are restaurants, a hair salon and a day spa.
Oceans retail is a series of nine lots, six of which are leased. The lots range from 35 square metres to 230 square metres.
The most lucrative tenancy comes from fashion shop El’ Marie, which pays $155,125 per annum for the 95 square metre space. All other tenants are fashion stores except for a day spa.
The sales are all being negotiated by CBRE’s Brendan Robins and Rem Rafter.
CBRE is responsible for a number of retail and commercial listings in Queensland including a retail outlet in Cairns.
The offers to purchase campaign ends on November 29.
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Juniper group to sell 38 retail lots in Mooloolaba

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A zoo outside of Cairns has been listed for sale with the option of buying all the animals.
The vendor of Shambala Animal Kingdom, former Sydney lawyer Elaine Harrison, bought the 54-hectare zoo in March this year but was unable to turn a profit from the zoo, which has been mired with problems over its eight-year history.
The freehold property was bought for $1.09 million earlier this year.
It was opened in 2004 as the Mareeba Wild Animal Park after numerous problems surrounding its finance and construction.
Less than a month later the zoo was closed with $3 million of debt, and founder David Gill, was charged. A cheetah and a lemur had escaped from their enclosures and others had died.
Over the next two years the zoo remained in administration, over which time nine lions escaped from their cages.
It was then bought by former Glencorp director Udo Jattke, who invested $100,000 upgrading the facility and reopened the business as Cairns Wildlife Safari Reserve. But the business continued to lose money with staff often waiting to be paid.
Harrison says the property would suit someone up for a challenge.
"For someone to come in with a good marketing budget and marketing savvy, this place could be second to none in Australasia," Harrison told News Limited.
"It is an amazing facility, it is a beautiful park with the most phenomenal animals. To get up close and personal with them is like nothing else in my life I will ever experience again.
"It has been the best and worst year of my life.
"My concern has always been for the animals."
Harrison is citing health and family issues for selling the property.
She says buyers will have the option of buying all the animals with the zoo in one line. These include 24 lions (the largest pride in Australia) and a variety of tigers, hippos, cheetahs, rhinos, gibbons, lemurs and monkeys.
If investors chose not to buy the animals Harrison says she has lined up spots in international breeding and conservation organisations.
If it is not sold as a zoo it will go to auction as two vacant parcels. There is a development application before Tablelands Regional Council for a 30-person luxury lodge and for 18 cabins.
The property is on two titles, one of 38.15 hectares and one of 15.01 hectares.
The zoo, in <a target="_blank" href="/news">Koah</a>, goes to auction on December 15. It is being sold by Callum Jones from McGrath Port Douglas. 
"The seller's overriding concern is for the parks resident animals. Should a buyer not be found immediately who shows the skills, desire and care to be able to continue the operations as they are now then the animals will be relocated to overseas reserves and the property will be sold as is where is as land and improvements," Jones says. 
Pictures on the listing show the animals with speech bubbles expressing their apparent desire to not be sent to other zoos.
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Paging Matt Damon or Benjamin Mee: Cairns zoo, along with its animals, up for sale

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Home building approvals in Queensland mining towns continue to outperform other areas of the state, according to HIA data.
The coal mining region of <a target="_blank" href="/news">Mackay </a>had the biggest increase in home building improvements in all of Queensland. There were 754 building approvals in the three months to September 2012, compared with 350 in the three months to September 2011, an increase of 115%.
<a target="_blank" href="/news">Toowoomba </a>was close behind with an increase of 53% from 154 approvals to 235. <a target="_blank" href="/news">Townsville </a>was next, with a 42% increase, followed by Gladstone-<a target="_blank" href="/news">Biloela</a> and Hervey Bay at 32%.
The Sunshine Coast and Gold Coast experienced the biggest decreases in home building approvals, dropping 28% and 29% respectively. Greater <a target="_blank" href="/news">Brisbane </a>and <a target="_blank" href="/news">Cairns </a>were next lowest at 19% and 16% respectively.
HIA director Warwick Temby says there is a clear connection between resource development and home building activity.
“Central Queensland and the Toowoomba regions have experienced double digit growth in home building over the last 12 months. This is overwhelmingly positive news for an industry that has struggled to climb out of a GFC-induced recession,” Temby says.
“But to have big impacts on employment in the industry the growth that has been seen in the resource areas needs to take hold elsewhere in the state.
“The budget’s $15,000 for first-home buyers who are building has increased inquiry for new homes and it is expected that this will flow through into orders in the coming months.
“HIA is forecasting that combined with lower interest rates this boost for first-home buyers will underpin a broad-based lift in home building across Queensland in 2013.”
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Building approvals in Queensland resource areas continue to outperform others: HIA

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Beachlife, the forsaken luxury Mollymook holiday apartment complex, has been listed for receivership sale through Westpac after the developers failed to secure sufficient holiday home buyer interest.
The vacant 8,500-square-metre block is the former site of<a href="https://www.cramerproperty.com/new/#/datalive_02_01_42" target="_blank"> a planned 79-unit apartment block </a>on the south coast of New South Wales.
The project did not proceed after the developers failed to secure sufficient bank funding following the dramatic downturn in the second-home market after global financial crisis.
The receivers have moved after developer Peter Leffrey's Davocsh Pty Ltd had the vacant project site listed last December. It did not sell.
Davocsh had bought the site over 2006 and 2007 for a $7,425,000 total and planned to build an ambitious three-block luxury complex.
Plans for the site were originally approved in December 2007 and have been reactivated following  demolition of parts of the site.
Marketing for the campaign began in 2010 but was halted three months later by Davocsh. The concept became unstuck given banker lending hesitation on the ambitious <a href="/news">Mollymook</a> project.
Cramer Properties, which was marketing the units, managed to sell around five apartments in the three months, including the most expensive one in the building.
Off the plan prices for units originally ranged from $390,000 to $1.6 million through Cramer.
Interest in the units came primarily from empty-nesters in Canberra and Sydney looking to retire.
The plans for the project allow for three low rise buildings with 20 two-bedroom units, five two-bedroom + studies, 52 three-bedroom units, two three-bedroom penthouses, and 154 parking spots.
Section 94 contributions of $181,000 have been paid as well as long service levies of $88,480.00 but no water or sewer section 64 contributions have been paid to date. The current amount estimated as payable is $764,000 as at 1 July 2012.
“Often with receivership sales there’s been a cashflow issue potentially, in some instances there’s money outstanding with various parties. All those items are unpaid,” says Knight Frank agent Peter Krieg.
Krieg declined to disclose a price guide for the property or any other relevant information.
The land is 350 metres from the beach and has three street frontages.
The site is made up of several titles bought in 2006 and 2007 Davocsh which was co-directed by by Peter Leffley and Janine Treacy.
In 2006 Davocsh bought 56 Ocean Street for $3 million.
In 2007 Davocsh bought 54 Ocean Street for $1.625 million, 58 Ocean Street for $1.9 million and 1 Shepherd Street for $900,000.
The total cost of the land was $7,425,000.
Krieg told Property Observer he thinks the past acquisition sale prices are irrelevant.
The land is zoned 2(b2) which is intended to “provide for a variety of life styles by the provisions of areas for residential flat buildings to minimise the conflict with detached housing and to identify opportunities for motel development”.
If the buyer wanted to move away from a block of units, alternative uses indicated by the marketing include medium-density development including residential and holiday use, a mixture of townhouses and villas with potential of 25 three-bedroom or 35 two-bedroom townhouses subject to council approval.
Marketing for the property suggests the region will experience strong growth over the next decade, driven by retirees and leisure visitation.
The property is being sold by Knight Frank agent Peter Krieg and LJ Hooker agent Gary Cox.
Expressions of interest closed yesterday.
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Mollymook apartment development Beachlife listed in receivership sale

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Pet-owners in Queensland could face higher rental bonds than regular tenants if options in a new discussion paper are passed.
If the option of one extra week's rent is passed it will join WA where pet owners can be slugged with an extra $260 in bond to pay for fumigation sometimes required when pets move out. The WA pet charge limit was upped from $100 in 2011.
The Queensland government has released a discussion paper on tenancy laws to review changes to legislation introduced in 2008.
The paper introduces many options to for review including increasing the bond required for tenants with pets, or tenants moving into houses that are fully furnished or have a swimming pool.
The discussion paper lists four main areas of concern – balancing stakeholder interests, streamlining service delivery, reducing red tape and technical and minor changes.
The review is not examining the procedures and practices of QCAT or public housing policies and procedures.
Some other options <a href="https://www.rta.qld.gov.au/About-the-RTA/Legislation/Review-of-the-RTRA-Act" target="_blank">the paper</a> looks at include:
<ul>
<li>Increasing deposits for fully furnished property and those with pools</li>
<li>Ensuring tenants have a fee-free way of paying rent</li>
<li>Outlawing key deposits</li>
<li>Increasing bond amounts for caravan tenants</li>
<li>Increasing the window agents have to inspect properties to three hours</li>
<li>Reducing frequency of inspections for long term tenants</li>
<li>Removing immediate eviction provisions for rooming accommodation providers</li>
<li>Ensuring lessors can only end a tenancy for specific grounds</li>
<li>Remove short term tenancies which currently allow tenancies without paperwork for up to 42 days for moveable dwellings.</li>
<li>Giving lessors permission to charge the full water consumption cost regardless of water efficiency of the property</li>
</ul>
Housing and Public Works Minister Bruce Flegg says the laws are due for a review.
“The last review of tenancy law was in 2006-07, which introduced some significant changes and it is now appropriate to consider how effectively those changes have worked,” Flegg says.
The Real Estate Institute of Queensland (REIQ) says it welcomes a review of tenancy laws by the state government but says the review it should be expanded.
REIQ chief executive Anton Kardash says the review could better streamline the residential tenancy transaction process.
“In a tenancy relationship it’s important both parties, namely the tenant and landlord, understand their rights and obligations and that these are fairly balanced,” he said.
“Additionally, we welcome the opportunity to clarify the responsibilities of a property manager which at times are onerous and poorly defined.
“It is disappointing to note however, that the review does not extend to the procedures and practices of the Queensland Civil and Administrative Tribunal (QCAT).
“The Institute, in consultation with its members, is aware of inefficiencies relating to QCAT procedures and inconsistencies in decision making and as such would encourage the State Government to widen the scope of the review.”
“We want to hear the views of tenants, landlords, agents, park managers and rooming accommodation providers on important issues that affect them and whether the options in the discussion paper will address these issues.
‘We need to ensure the Act is balanced and there are no legislative barriers to improved service delivery by the RTA.”
The 2013 deadline for submissions is January 2.
 
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Queensland tenants with pets face higher rental bonds under mooted tenancy laws that follow WA’s lead

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Construction has commenced on the Wertheim Square apartments in Lend Lease’s Studio Nine development in Richmond.
Prices in the inner-Melbourne block currently start at $649,000 for a two-bedroom unit measuring between 80 square metres and 96 square metres.
Previously prices for two-bedroom, one-bathroom apartments started at $655,000.
The <a href="/news">Richmond </a>apartments will be new buildings on the historical site, given earlier offerings within the project were conversions of an older building.
The master-planned community will pay homage to its iconic industrial and broadcast past. The site is a former piano factory, then the Heinz canning factory, and then a broadcast studio.
Construction of the project is due to finish in late 2013 to early 2014.
Lend Lease was previously offering 10% annual returns on deposits paid for apartments.
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Construction begins at Studio Nine

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Manufacturing is the largest industry in the Queensland mining hotspot town of Gladstone, according to ABS statistics.
Manufacturing jobs account for 17% of all jobs in the Gladstone local government area, compared with just 3.36% for mining.
Though not strictly mining jobs, many of the manufacturing work in Gladstone stems from mining in nearby areas.
Construction is the second biggest industry, accounting for 13.8% of jobs, followed by retail at 9.48%. Next is transport, postal and warehousing at 7.71% and professional, scientific and technical services at 7.25%.
The major manufacturers in Gladstone are QAL, Rio Tinto Yarwum, Boyne Smelter and Ausproof.
Gladstone is reaping the benefits of the mining boom, says Purcell's line boring and engineering managing director Terry Purcell.
"There is heaps of mining work coming into this town – fabrication and machining," Purcell told The Gladstone Observer.
“Gladstone is traditionally an industrial city, so there is a lot of manufacturing to support that.
"We are centrally located between Surat and the Bowen basin."
He says his business manufactures new and old components primarily for the mining industry such as ruck trays.
"(Manufacturing is) to take a bit of raw material and turn it into a machine or fabricated component."
He says Gladstone’s manufacturing industry isn’t the biggest in the country but it is well placed to service mining needs.
"In the true sense of manufacturing, I think there is a lot more down in Victoria and NSW. They can get it done for cheaper because of lower wages,” Purcell says.
"There will always be a manufacturing industry here if [mining companies] can't wait and need it right now. Skilled tradespeople are hard to find."
<table width="451" cellpadding="0" cellspacing="0" border="0">
<colgroup>
<col width="289">
<col>
<col width="98">
<col>
<col width="64">
<col>
</colgroup>
<tbody>
<tr height="66">
<td width="289" height="66">Industry</td>
<td width="98">Percentage of workers employed (%)</td>
<td width="64">Rank</td>
</tr>
<tr height="20">
<td height="20">Accommodation and food services</td>
<td align="right">5.94</td>
<td align="right">8</td>
</tr>
<tr height="20">
<td height="20">Administrative and support services</td>
<td align="right">2.49</td>
<td align="right">14</td>
</tr>
<tr height="20">
<td height="20">Agriculture, forestry and fishing</td>
<td align="right">1.55</td>
<td align="right">17</td>
</tr>
<tr height="20">
<td height="20">Arts and recreation services</td>
<td align="right">0.49</td>
<td align="right">19</td>
</tr>
<tr height="20">
<td height="20">Construction</td>
<td align="right">13.76</td>
<td align="right">2</td>
</tr>
<tr height="20">
<td height="20">Education and training</td>
<td align="right">6.27</td>
<td align="right">7</td>
</tr>
<tr height="20">
<td height="20">Electricity, gas, water and waste services</td>
<td align="right">2.58</td>
<td align="right">13</td>
</tr>
<tr height="20">
<td height="20">Financial and insurance services</td>
<td align="right">1.10</td>
<td align="right">18</td>
</tr>
<tr height="20">
<td height="20">Health care and social assistance</td>
<td align="right">6.39</td>
<td align="right">6</td>
</tr>
<tr height="20">
<td height="20">Inadequately described/Not stated</td>
<td align="right">2.72</td>
<td align="right">12</td>
</tr>
<tr height="20">
<td height="20">Information media and telecommunications</td>
<td align="right">0.36</td>
<td align="right">20</td>
</tr>
<tr height="20">
<td height="20">Manufacturing</td>
<td align="right">17.00</td>
<td align="right">1</td>
</tr>
<tr height="20">
<td height="20">Mining</td>
<td align="right">3.36</td>
<td align="right">11</td>
</tr>
<tr height="20">
<td height="20">Other services</td>
<td align="right">3.40</td>
<td align="right">10</td>
</tr>
<tr height="20">
<td height="20">Professional, scientific and technical services</td>
<td align="right">7.25</td>
<td align="right">5</td>
</tr>
<tr height="20">
<td height="20">Public administration and safety</td>
<td align="right">3.93</td>
<td align="right">9</td>
</tr>
<tr height="20">
<td height="20">Rental, hiring and real estate services</td>
<td align="right">1.82</td>
<td align="right">16</td>
</tr>
<tr height="20">
<td height="20">Retail trade</td>
<td align="right">9.48</td>
<td align="right">3</td>
</tr>
<tr height="20">
<td height="20">Transport, postal and warehousing</td>
<td align="right">7.71</td>
<td align="right">4</td>
</tr>
<tr height="20">
<td height="20">Wholesale trade</td>
<td align="right">2.44</td>
<td align="right">15</td>
</tr>
</tbody>
</table>
Source: ABS
For more on investing in Gladstone, download the free Property Observer eBook: <a href="http://propertyobserver.com.au/ebooks/free-ebook-gladstone-investment-keys-to-one-of-the-nations-most-talked-about-hotspots" target="_blank">Gladstone - Investment keys to one of the nation’s most talked-about hotspots.</a> 
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Most jobs in Gladstone come from manufacturing

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The co-founder of accommodation booking website Wotif, Andrew Brice, has been tipped as the buyer of the office tower Nathan Tinkler didn’t – at time when BIS Shrapnel is forecasting the Brisbane office vacancy rate to hit 10%.
Brice has reportedly purchased <a target="_blank" href="https://www.commercialrealestate.com.au/Property/7834047/For-Lease/QLD/BRISBANE/Offices">443 Queen Street</a> in Brisbane for around $40 million.
<a target="_blank" href="https://www.propertyobserver.com.au/commercial/nathan-tinkler-lets-another-property-purchase-lapse/2012100957061">Tinkler had initially agreed to buy </a>the 22-year old waterfront building in the heart of the Brisbane’s CBD for around $37 million from Bramley Properties earlier this year.
Brice's name emerged after the 5,500-square-metre building was relisted for sale after Tinkler was unable to secure an extension on his deal. Jones Lang LaSalle’s Seb Turnball and Geoff McIntyre reportedly negotiated the deal but are declining to comment on the matter.
Both The Australian Financial Review and the The Australian have outed Brice as the buyer.
Brice is reportedly worth more than $200 million and is a member of the Order of Australia for his services to business. He co-founded Wotif with Graeme Wood.
The five-storey property is one of the last riverfront locations in the CBD yet to be developed into a high rise. The building will be leased to engineering company Hatch after Rio Tinto Alcan moved out of the building in June.
The property was built by developer Kevin Seymour in 1990 and bought by Bramley properties in 2004 for $23 million.
Linc Energy founder Peter Bond was reportedly close to paying $37 million for the building last year.
BIS Shrapnel has just published a report predicting the office vacancy rate in the Brisbane CBD to hit 10% by June 2013, reflecting the growing imbalance between new supply and demand.
“The completion of 145 Ann Street, has already released back-fill space and more will be added when the ATO moves into its new home at 55 Elizabeth Street in mid-2013”, says BIS Shrapnel’s Christian Schilling.
But he says the main factor pushing vacancy rates up in the short term is weak demand.
“The outlook for demand has softened markedly since early this year.”
“Large-scale redundancies at the state government, the downturn in demand for resources and falling business confidence mean that virtually no-one is looking for additional space.
“Only nine months ago the prospects for Brisbane was looking bright. Demand was strong and vacancies were falling, buoyed by investment in resource projects and associated employment growth. Most commentators expected the market to go from strength to strength.
“Few people anticipated the magnitude and speed with which the incoming Queensland government has cut jobs. In some departments over 1,000 staff have already gone, with large pockets of empty space appearing across floors. And the process is by no means complete—it will take some time, years perhaps, before it works itself through the system.”
He says as well as a drop in government tenancies, declines in the mining sector will lead to further vacancies.
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Wotif co-founder Andrew Brice reportedly buys Brisbane office block Nathan Tinkler didn't

<a href="https://www.apartments.com.au/developments/broadbeach-qld-4218">Broadbeach</a> offers plenty of reasons to live vertically, but moving from a substantial family home into an apartment can expose the compromises of high-density living. Privacy, room for guests and usable living space tend to matter more when an apartment is intended as a permanent home rather than an occasional coastal base.

A typical residential floor at <a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a>, on Surf Parade,&nbsp;contains just four apartments. The 94-residence development by <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> is predominantly made up of expansive three-bedroom homes, with a limited collection of half-floor penthouses above.

Across the apartment floors, <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has used the relatively limited number of residences to give each home greater access to natural light and outlook. Living spaces extend towards full-height glazing, while a series of bay windows frame selected views across the Pacific Ocean, city and hinterland rather than treating the building edge as a continuous wall of glass.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360965]

“The apartment floors deliver a collection of homes that embrace controlled outlook via a series of bay windows deliberately framing moments of view,” Rothelowman Director Kim Lowman said.

From outside, those projecting forms contribute to the tower’s faceted profile. Strong horizontal and vertical elements establish its proportions, while the changing position of the sun alters the light, shadow and reflection across the façade throughout the day.

The same attention moves inside the apartments, where the material palette combines warm timber, natural stone, metallic detailing and softer curved forms. Kitchens sit within the main living zone, with stone island benches, integrated joinery and European appliances, before the living areas extend towards the glazing and the outlook.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360981]

Three genuine bedrooms provide room to accommodate family and guests, while two secure car spaces and storage address some of the practical considerations that can become more noticeable when moving from a larger home. Feedback from the display suite has centred on the warmth and restraint of the interiors, with buyers commenting that the residences feel like homes rather than conventional coastal apartments.

A limited collection of half-floor penthouses occupies the upper levels, increasing the scale of the living spaces and adding private balconies and elevated finishes. From this position, the outlook extends between the ocean and hinterland.

Outside the private residences, The Eveleigh separates its shared spaces between the podium and rooftop. The podium is centred on wellness, with subtropical landscaping surrounding a swimming pool and pool terrace, yoga garden, private gymnasium, sauna and hot and cold plunge facilities. Landscaped retreats and pavilions provide additional places to sit away from the main recreation areas.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360966]

Higher in the building, a rooftop pavilion and private dining suite sit alongside resident lounge, barbecue and outdoor dining areas, opening towards panoramic views across the ocean, city and hinterland.

“Buyers are no longer just looking for an apartment, but a lifestyle where they can relax, reset, and enjoy a balanced way of living,” Hirsch &amp; Faigen Director of Sales Matt George said.

Interest to date has come from established owner-occupiers and interstate lifestyle purchasers, including buyers planning a future move to the Gold Coast. Many are coming from larger homes and want to reduce ongoing maintenance without giving up space for family and guests, privacy, two car spaces or the ability to entertain at home.

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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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