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A historic store dating back to 1886 has been listed for sale in Gundaroo, NSW.
<a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-gundaroo-nsw-2620/161838" target="_blank">The Gunadaroo Store</a>, built in 1893, and an attached cottage named Sally Paskin’s Store, built in 1886, have been listed for sale and come with a potter's shed, a picnic garden and water features.
<a href="/news">Gundaroo </a>is just north of the ACT border, 30 kilometres north of Canberra.
The store currently operates as a boutique gift store and has been recently renovated and has high ceilings, kauri floors and expansive interiors.
“The Gundaroo Store and the Caladonia Store next to it were like Myers and Bunnings and Woolworths all rolled into one. It provided a wide range of goods for people to buy," says vendor Peter Thorne.
“It had everything from haberdashery, hardware items even explosives for miners because gold was found in the region. It basically provided everything you could possibly want.”
The building is mostly constructed of wood from various parts of the world.
“It’s a lovely old building, particularly interesting because the floors are New Zealand kauri and they’re all original and the ceilings are baltic pine, from the other side of the world. Packing cases were pulled apart and used to construct buildings. If you look across the front there’s a section made of packing case timber,” Thorne says.
“Moving from Sydney has been the best thing we ever did for a whole range of reasons, but the community is fantastic. There are lovely people here. The craft festival especially sticks in our memory as being a wonderful occasion. “
Agent Chris Dixon says he enjoys the construction of the building.
“It really does a very solid feel and you don’t often see buildings constructed like that these days,” Dixon says.
“The lovely high ceilings, the kauri floors, the sheer size lends itself to many options and opportunities.”
Dixon says Gundaroo is a popular tourist spot.
“It’s very popular with Canberrans and those living the regional areas but it’s also quite popular with Sydneysiders. People often come down to Canberra and do the winery tours here and there are a number of villages within half an hour of Canberra,” Dixon says.
“Peter Thorne is a fascinating fellow. He’s an engineer by trade and he has dabbled in all sorts of enterprises, but he and wife Jenny have been quite enterprising running it as a boutique store. It was previously Devonshire teas and arts and crafts and for a while it was restaurant.”
The Sally Paskins store is still in largely original condition.
“It’s one of the only excellent examples of slab hut constructions left,” Dixon says.
Thorne bought the property in 1976 after leasing the property for a year. He and his partner discovered the property when driving down to Sydney to sell tiles in Canberra. They operated as an arts and craft store, then added a tea room and then ran a spit roast restaurant for a while.
The expressions of interest campaign closes at the end of November, and Dixon is seeking offers over $1 million for the property.
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Sally Paskin's 1886 store listed for sale in Gundaroo

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The organisers of mega-music festival Splendour in the Grass have listed their historic Byron Bay home for sale.
Jessica Ducrou and Dain Thomas are looking for $3.5 million for their 109-year-old farmhouse.
The couple recently renovated the property, named Killarney, with their home styling due to feature in the December issue of Vogue Living.
<img src="/images/stories/2012/10/splendour1.jpg">
The couple bought the five-bedroom Queenslander in 2010 for $2.65 million. Prior to this it traded for $1,595,000 in 2005.
The two-level <a target="_blank" href="/news">Byron Bay</a> property features a large veranda, five bathrooms a formal lounge room with an open fireplace. The open-plan kitchen and dining area overlooks the entertaining deck, gardens and swimming pool.
The saltwater pool sits next to a large cabana with a barbecue.
Marketing for <a target="_blank" href="https://maps.google.com.au/maps?q=21+Cooper+Street+byron+bay&amp;hl=en&amp;sll=-25.335448,135.745076&amp;sspn=42.130286,56.513672&amp;hnear=21+Cooper+St,+Byron+Bay+New+South+Wales+2481&amp;t=m&amp;z=16">21 Cooper Street</a> suggests it’s a few minutes’ walk from Tallows Beach and 10 minutes from Byron Bay centre.
The property has expired development approval for a guest cottage at the back of the garden and current approval to operate as a bed and breakfast.
The property is being marketed by Unique Estates agent Nicolette van Wijngaarden.
The expressions of interest campaign closes on November 30.
Ducrou founded Splendour in the Grass in 2001 after co-founding Homebake in 1996.
The festival has drawn headline acts such as Coldplay, Smashing Pumpkins, Wolfmother, Kanye West, Pulp, Sonic Youth and Moby.
The couple have battled the local council after the council failed to approve the Byron Bay festival and they had to move it to Woodford, Queensland.
They will be moving the festival back to Byron Bay after securing trial approval to operate the festival at a site in North Byron Parklands.
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Splendour in the Grass organisers list Byron Bay home

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Australian Securities and Investments Commission needs to clamp down on rogue self-managed super fund (SMSF) advisers, according to wealth advisory group Chan &amp; Naylor.
Its director of financial planning, David Hasib, says the relatively new nature of SMSF products means regulation is lagging behind.
“Australia’s financial landscape has grown dramatically in its diversity and complexity over the years, yet education requirements for advisers have lagged,” says Hasib.
“It should not be acceptable to play the role of financial adviser in the general sense – the industry is evolving so quickly that it requires specialised advisers that are up to date and add real long-term value to clients.”
He says a lack of regulation means anyone can be an SMSF adviser and many don’t advise clients of potential pitfalls of SMSFs.
“A quick internet search will reveal the growing numbers of online spruikers, bearing no relevant qualifications at all, who are cashing in on the new SMSF market,” says Hasib.
“The problem is detrimental to those on the receiving end of uninformed advice, as well as the reputation and integrity of an otherwise healthy industry which will find itself tarred with the same brush.”
He recommends minimum qualification levels and increased professional development hours with penalties for those operate without them.
Andrea Slattery, CEO at SPAA, the peak body for SMSF advisers, says trustees should always seek out SPAA members for advice.
"There are so many people getting into the industry who see it as an opportunity and there's a need for trustees to seek out genuine specialists and SPAA members are the only ones who have undergone rigorous training," Slattery says.
Slattery says ASIC and the ATO are increasingly moving towards regulation for SMSF advisers.
"We believe there is a need for people to do more to work towards accreditation and to get recognition. The ATO have already increased their powers and will be increasing their further to regulate the sector."
"Right now there are people that are providing services in Australia that are not specialists and may not be competent with the complex rules around advice advice in SMSF and what we're trying to do is build integrity in the industry and advise trustees to use a specialist adviser."
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Clamp down on rogue SMSF advisers: Chan & Naylor

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An 1878-built hotel in Portland, Victoria, has been listed for sale with $1.29 million hopes.
{yoogallery src=[images/stories/2012/09/oct2portland]}
Annesley House was originally built as the residence and surgery of Dr Brewer, then chief medical officer and mayor of Portland.
The two-bedroom residence consists of seven furnished apartments, which have been run as self-contained holiday accommodation by vendor Mark Robinson, who bought the property in 2004.
The two-storey brick structure was designed by architect Daniel Nicholson. Heritage documents say the building is an interesting example of a substantial 19th-century townhouse design in an Italianate style.
Brewer passed the building on to the Wadmore sisters in the early 1900s. They converted the mansion into a guesthouse. In the 1940s the building passed onto a Mrs Luers, the daughter of a local politician and poet. She continued to run the building as a guest house until the current owners bought it in 2004.
When it was built the Portland Guardian reported it was “one of the finest that a private gentleman in a country district need desire”.
Inside pictures of Annesley House on page 2 
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Robinson has undertaken significant restoration of the property, including remodelling the original kitchen, while keeping many of its original features and furnishings, including a bell to summon the servants.
{yoogallery src=[images/stories/2012/09/oct2portland2]}
Current rates at the hotel start at $155 per night.
Portland Bay was named in December 1800 when Lieutenant James Grant on the Lady Nelson sighted it for the first time and named it after a Secretary of State, the Duke of Portland.
It was set up as whaling station and trading port in the early 1830s, but it soon attracted pastoralists as the fertile nature of the land was discovered.
Eventually the sheltered bay became a permanent township, with the government commencing the set out of a new township in 1840.
As the Victorian goldfields became overcrowded ships were diverted to Portland, with the first immigrant ships sailing directly from Great Britain in Portland in 1852.
The 1,344-square-metre property includes proprietor's rooms and off-street parking and garages.
It is being sold by Mike Barrett from Charles Stewart Warrnambool.
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Heritage 1870s Portland, Victoria, Annesley House hotel listed

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An 1889-built hotel in Cullen Bullen, 124 kilometres inland from Sydney, has been listed for sale.
John Surian, director of Raine and Horne Parramatta, says the history of the pub, the only one in <a href="/news">Cullen Bullen</a>, dates back to the past century. 
According to a heritage study the rectangular Victorian-style hotel was built in two stages along roadside frontage.
“The first southern section of the hotel was constructed in 1890 of ashlar render with a dentilled parapet wall column and urn. A four-panelled doorway with double two-pane windows are visible at the skyline,” Coalpac’s heritage study says.
“The second section is simpler in design and consists of dry pressed brick with smaller pane windows. A two-storey Edwardian veranda continues along the entire street facing facade.”
Agent Mitchell Woods is asking $400,000 to $450,000 for the <a href="https://www.realcommercial.com.au/property-retail-nsw-cullen+bullen-500461719" target="_blank">Royal Hotel premises</a> (pictured below), giving a potential yield of around 8%.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2012/10/royalhotel.jpg" width="470">
The pub currently earns $36,703 per year on a 10-year lease expiring in 2019.
The vendors renovated the building three years ago, replacing the bathrooms, the main bar area, kitchen, cool room, beer lines and other auxiliary works.
The 1,461-square-metre hotel includes a main bar area, a cool room, bistro rooms and furniture, a kitchen, 10 rooms for accommodation, a laundry and a store room.
The town is the centre of local mining operations, with the major coal extractor in the area, Coalpac, recently applying for a 20-year extension of its licence. The town is also close to a power station.
Coalpac wants to expand its mining operations in the area, with plans to start open-cut coal mining in the Ben Bullen State Forest, which borders the Gardens of Stone National Park.
The plans would raze 10,000 hectares of forestland and is facing opposition from environmentalists.
Coalpac says if the plans don't go ahead, electricity prices are destined to rise.
The rent increases annually with CPI, and the tenant pays all the outgoings and maintenance.
A vacant block at the back of the property is included in the sale.
The pub last sold in 2003 for $375,000, according to RP Data.
According to the 2011 census, the town has a population of 183 people with 83 households.
Europeans first settled at Cullen Bullen with the 1815 construction of Cox’s Road across the Blue Mountains.
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Cullen Bullen's only pub listed for sale

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Melbourne real estate agents continue to underquote properties selling at auction, according to the latest Property Observer survey on the issue.

An analysis of 74 sales catalogued by National Property Buyers over the last four weeks shows 55 of those properties sold for above the price range indicated by the selling agent prior to auction.

That’s just shy of 75% of properties selling for more than the upper bracket of the quoted price range.

On average, those 55 properties sold for 8.7% above the upper bracket of the price range indicated by the agents.
Property Observer’s <a target="_blank" href="https://www.propertyobserver.com.au/news/underquoting-still-rife-in-melbourne/2012100456988">most recent underquoting survey</a> found 75% of September surveyed properties sold for over price indications. Those that sold above went for an average of 6.5% over.

Prior to that, <a target="_blank" href="https://www.propertyobserver.com.au/auctions/melbourne-auction-listings-typically-selling-at-5-above-upper-end-estimate/2012090956435">an analysis of 220 auction results</a> in the months leading up to spring found 77% of properties were selling above price guides. Those that sold above were going for an average of 5% above expectations.

Just one property sold for below the price range indicated by agents prior to auction.

The properties analysed were only those where a price range was given with a lower and upper price indication.

Buyers’ agent Catherine Cashmore, who compiled the raw data for this survey, says buyers can expect to pay more than the price indicated before auction.

“Price quotes are important to attract buyers in the first place – no buyer likes to play guessing games when it comes to putting a price on an advertised listing.  However, as with any auction, the quote has to be at a level to attract as many potential purchasers as possible, whilst at the same time, not being too far from vendor expectation to achieve a sale,” Cashmore says.

“There are still agencies who quote at a level which we know from our own research to be too low to reasonably achieve a sale within the advertised range – we come across them weekly – and it would be fair to suggest buyers can expect to pay above the advertised price quote in most circumstances, especially when there is competition.

“However, bear in mind, every real estate sales agency quotes differently, so it's always important to do the necessary leg work to avoid wasting time and money inspecting a home, which will only ever achieve a sale price in excess of the advertised figure.”
 
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Cashmore says more owner-occupiers in the market can push up auction prices.

“Stock levels have been plentiful this year, however the 'best of the best' has not been in abundance.  Owner-occupiers have dominated the inner-city market (with numbers of investors reduced due to continual poor consumer confidence), and it's well known that owner-occupiers are the demographic willing to pay an extra 5-10% more to secure the home of their dreams.  Hence why owner-occupiers fuel price growth and hence why 'investment grade' homes are chosen to attract this demographic.

The most extreme case of underquoting, or overly enthusiastic bidding, was a two-bedroom <a target="_blank" href="/news">Collingwood</a> house that sold for $662,500, 50% above the pre-auction indicated price range of $400,000 to $440,000.

A four-bedroom <a target="_blank" href="/news">Fitzroy North</a> house sold for $1,845,000, or 29% above the pre-auction indicated price range of $1.3 million to $1.43 million.

And a two-bedroom <a target="_blank" href="/news">Hawthorn </a>apartment sold for $652,000, 25% above the pre-auction indicated price of $470,000 to $520,000.

The $600,000 to $1 million bracket had the most cases of underquoting. Of the 26 sales in that bracket analysed, 23 or 88% sold for above the pre-auction indicated price range.

Of those 23, 17 sold for more than 5% above. Those 11 properties sold for an average of 11% over the pre-auction indicated price range.

For properties selling under $600,000, 64% sold for above expectations for an average of 5.7% over.

For properties selling over $1 million, 70% sold above expectations, an average of 10.2% over.

The property sales analysed come from National Property Buyers weekly survey of the Melbourne market.

The properties recorded those thought to be investment-grade or cream of the crop properties. They are thought to be properties that hold the best potential for long-term capital growth and rental demand.

The price quotes are received as close as possible to the auction date to avoid step quoting practices.

Cashmore says agents who put their price quotes too high risk scaring away potential clients. While Cashmore agrees price quoting can be frustrating for clients they must realise that more legislation won’t stop the practice.
 

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Sale prices edge 8.7% above estimates of Melbourne agents underquoting at October auctions 

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The notion of an Australian property housing bubble is misguided according to BT Financial Group chief economist Chris Caton.
Caton describes as simplistic the comparison with US housing market and the argument that Australian housing prices are overpriced when measured in terms of disposable income.
“When other countries are thrown into the mix, the argument that we have a housing price bubble in Australia is much harder to sustain,” Caton said at a conference of mortgage brokers in Thailand.
“The fact is our housing prices are in broad alignment with many similar economies, so it’s my belief talk of a housing bubble is misplaced.”
Caton also predicts lower rates and higher housing prices over the next 12 months.
“Although I’m not as bullish as some other economists on lower interest rates, I still expect at least one cut in the cash rate and possibly two as the Reserve Bank prepares for a downturn in mining.”
He says he expects a pick-up for housing credit and house prices over the next year, led by WA.
“I suspect we will be back at next year’s conference and housing prices will have risen over the past 12 months.”
Caton says while there are major economic problems in the world, he think there will be minimal impact on Australia.
“The Euro-zone remains an issue, but it’s more about contagion across Europe than a Greece in isolation. Greece per se is not an issue; its economy is small. It’s Italy and Spain we have to worry about. That said the trend in the long-term bond rate in those two countries in the past three months gives ground for some confidence.”
“The US is facing an inadvertent massive tightening of fiscal policy with tax increases and spending cuts totalling close to 5% of GDP in early 2013 (the so-called fiscal cliff) because of past policy decisions. Were this to happen, the US would be pushed back into recession, but common-sense should prevail.”
He says China remains a worry “but only because it’s been such a good news story for Australia”.
“The commodity boom we have enjoyed because of China’s strong growth is unlikely to continue. But we will still enjoy healthy terms of trade with China.”
BT is the wealth management arm of The Westpac Group and has been operating since 1969.
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Australian property bubble argument misguided: BT Group

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A shopping centre in South Grafton NSW has sold for $5.8 million.
Some 250 kilometres south of Brisbane and 500 kilometres north of Sydney,  the <a target="_blank" href="https://www.realcommercial.com.au/property-retail-nsw-south+grafton-5754484">South Grafton Shopping </a>will have an initial passing yield of 10.68%.
It was bought by a Sydney-based private investor.
The un-enclosed centre, anchrored by Bi-Lo has a total lettable area of 3,297 square metres. Its tenants also include a pharmacy and six specialty shops. It has parking for 162 cars.
It was originally built in 2002. It has frontages to Bent Street and Bligh Street.
The fully leased net operating income of the 1 hectare site is approximately $608,462 per annum.
It was sold by Knight Frank agent Ben Stewart on behalf of Denison Funds Management, part of Metro Property Syndicate.
South Grafton neighbourhood shopping centre, anchored by a Bi-Lo Supermarket, has sold for $5.8 million, reflecting an initial passing yield of 10.68 per cent. The sale of South Grafton Shopping Centre to a Sydney-based private investor was negotiated by Ben Stewart of Knight Frank, on behalf of Denison Funds Management, as responsible entity of Metro Property Syndicate. The property, prominently located on Bent Street South Grafton, has a total lettable area of 3,297sq m. In addition to Bi-Lo Supermarket, the centre houses Guardian Pharmacy and six additional specialty shops with car parking for some 162 vehicles.
Stewart says the centre is a well-located secure retail investment opportunity.
“There continues to be strong interest from purchasers for convenience based retail investments such as this. The culmination of lower borrowing costs and somewhat limited supply of quality centres has resulted in competitive offers for some vendors” Stewart says.
It had been on the market since September last year.
According to Denison there were four interested parties. Settlement is on December 19.
Denison is currently involved in a stoush over the future of the 360 Capital Industrial Fund, with mooted plans to list the $345 million fund on the ASX.
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South Grafton Shopping Centre sells with 10.68% yield.

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Foreign investment in commercial real estate has increased significantly, according to the latest foreign investment report by Colliers.
Foreign investors accounted for 67% of all commercial property transactions in Australia in the third quarter of 2012, compared with just 30% in the same quarter the year before.
Canada contributed more than half of the $1.88 billion of foreign sales in the quarter with a single transaction – the Canada Pension Plan Investment Board invested $1 billion into Sydney’s Barangaroo development.
Another big player in the quarter was also a pension fund – the Korean-based National Pension Service signed a $360 million joint venture partnership with DEXUS, which will co-invest in a number of industrial properties at Greystanes in NSW and Laverton North and Altona in Victoria.
The $1.88 billion of foreign investment was spread over 32 assets and bought the total amount of foreign commercial property transactions to $6.3 billion for 2012 so far.
Colliers found the largest direct transaction during the third quarter was the $105.1 million sale of the 29-storey B-grade office building at 6-10 O’Connell Street in Sydney. It was bought by the Singapore-based investment firm MGPA, its first foray into the Australian property market.
Office purchases made up 78% of foreign investment in commercial property during the third quarter. Foreign investors spent $1.5 billion on offices over 12 sales – the Baranagaroo deal as well as an additional $470 million of sales, which include the $66 million purchase of 100 Brookes Street in Fortitude Valley by the US-based Hines Global REIT.
After the office market, foreign investors were most active in the industrial sector. Foreign investors, primarily from Asia, spent $180 million over 13 industrial sales, mostly into Victoria.
This was followed by the hotel sector, where offshore buyers spent $152 million across three assets – the Palazzo Versace Gold Coast, the Rendezvous Grand in Melbourne and the Hotel Enterprize in Melbourne. These were by Singaporean and Chinese buyers.
And the fourth biggest sector was in retail where foreign buyers, primarily from Europe spent $85 million over four retail purchases, including Pittwater Place at 10 Park Street, Mona Vale, which was bought for $56.6 million by German investment firm RREEF.
Foreign investment was led by pension funds and investment managers, accounting for 63% and 13% of foreign investment during that period. A number of REITs were also active in the market accounting for 12% of investments, the largest being K-REIT’s funding arrangement with Mirvac while Hines Global REIT also continued to acquire assets.
The report found offshore private investors have increased their level of activity in Australian commercial property with $103 million worth of investment, making up 5% of offshore inflows during the period.
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Foreign investment in Australian commercial real estate up significantly: Colliers 

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Affordable housing in Melbourne is only available in fringe suburbs, with inner suburbs out of reach for most investors and all but the wealthiest first-time home buyers, according to a state government report.
The discussion paper titled Melbourne let’s talk about the future says Melbourne needs to address affordable housing in the city.
“We have an ageing population, those heading towards retirement have reduced wealth, and housing stress is a chronic problem for about 10% of households,” Planning Minister Matthew Guy says.
“Almost all of the city’s most affordable housing is in the outer suburbs with the inner suburbs out of reach to many renters and all but the wealthiest first-home buyers.”
The report finds a dramatic reduction in housing affordability over the last decade means home buyers now have less choice about where they can buy a home.
“People with less money to spend (who are at greater risk of mortgage stress) can only buy in Melbourne’s outer suburban fringe if they want to own a detached house.”
And the report finds that while the cost of the house itself is often lower in outer areas, transport costs can negate some of these savings.
More people are at risk of mortgage stress with the number of people fully owning a dwelling dropping from 40% to 30% over the last 20 years while the number of people paying off a mortgage has risen from 30% to 35%.
The report finds low-income single-person households face the most difficulties renting affordable housing.
In the March quarter, just 0.3% of one-bedroom dwellings let would cost no more than 30% of gross to a single person solely reliant on Centrelink payments.
“Without action the cost of buying or renting a house in Melbourne is likely to rise in the years ahead, particularly in established suburbs. The cost of a dwelling in the middle suburbs of Melbourne needs to be reduced if we are to have any prospect of providing an opportunity to a wider range of the population to live in these areas, and greater socioeconomic diversity in existing neighbourhoods,” Guy says.
With renters facing the most difficult affordability conditions Guy proposes a number of changes to improve affordability.
He says affordable living could be addressed by:
<ol>
<li>Increasing housing supply;</li>
<li>Reducing the cost of building;</li>
<li>Reducing barriers to affordable housing development;</li>
<li>Preserving or offsetting the loss of existing low-cost housing;</li>
<li>Encouraging new affordable housing with planning scheme controls or incentives;</li>
<li>Securing dedicated social housing – housing rented at below market cost;</li>
<li>Increasing the number of jobs in suburban areas, to reduce commuting distances and times for suburban residents;</li>
<li>Reducing the need to own a second car and even any car per household by improving cycling, walking and public transport options; and</li>
<li>Other incentives to integrate affordable housing into new developments.</li>
</ol>
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Matthew Guy's nine-step plan to addressing housing affordability in Melbourne

<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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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.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360969]

Much of that daily life can also take place beyond the building without requiring a drive. Kurrawa Beach and Pratten Park are an easy walk from Surf Parade, while Pacific Fair, Oracle Boulevard, The Oasis, restaurants, cafés, entertainment and public transport are also within walking distance.

The Eveleigh is Hirsch &amp; Faigen's fourth Gold Coast development since entering the market in 2021, following The Hemingway at Palm Beach, The Emerson at Kirra and Yves at Mermaid Beach. Each of the preceding projects sold out before completion.

“Broadbeach had been on our radar throughout our time operating on the Gold Coast,” the developer said. “Following our projects in Palm Beach, Kirra and Mermaid Beach, Broadbeach represented the natural next step for the business.”

The Surf Parade site brought together proximity to the beach, protected coastal outlooks and walkability to dining, shopping and recreation. Hirsch &amp; Faigen also identified the street as an emerging premium residential address, with enough separation from Broadbeach's busier destinations to retain a quieter environment at home.

The Eveleigh is now under construction by Maxcon, with completion forecast for mid-2028. Three-bedroom residences are currently available from $2.87 million.

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Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

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

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

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

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

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

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

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