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The first tenants have moved into Collins on Bourke, the largest mixed-use commercial development in the Sydney suburb of Alexandria in the past five years.
The development is about 45% leased after about seven months, with tenants including alcohol company Suntory (1,470 square metres leased at $385 per square metre), Samuel Smith &amp; Son and Negociants Australia (4,500 square metres of combined office and warehouse space), medical centre Galen &amp; Gray (450 square metres) and childcare facility Explore and Develop (550 square metres of internal space plus 550-square-metre balcony).
<img src="/images/stories/collinsonbourke1.jpg">
“Collins on Bourke offers tenants a contemporary business space with an ideal work like balance,” says Michael Crombie of Colliers International.
“Bourke Street is really buzzing, and it’s the clearest sign that this suburb is truly coming of age. Collins on Bourke will lead further change as tenants look for more creative, better quality and better value accommodation.”
Graphic and website design company Attractivo is set to move into one of the high-tech suites, having secured a lease for just under $35,000 per year.
“The tenancy mix we’ve attracted is outstanding and we’re expecting enquiry to only strengthen now the project is complete and the site starts to come to life,” says owner representative George Mitsis.
“It’s a clever diversity of accommodation and tenants have seen the value in what this combination of businesses can bring to them as occupiers of the space, but also the broader south Sydney community.
“It’s the kind of place that recognises the shift in how people are choosing to live and work.”
Collins on Bourke will be near Sydney’s $1.7 billion mixed-use Green Square developments, which is set to house about 20,000 homes and 22,000 jobs, according to the City of Sydney’s website.
<img src="/images/stories/collinsonbourke3.jpg">
A recent report <a href="https://www.propertyobserver.com.au/australian-capital-territory/fringe-office-markets-outpace-metro-neighbours/2011080451030">by The Property Council found that non-CBD office market vacancy rates</a> are declining at three times the speed of their CBD neighbours.
Collins on Bourke’s high-tech suites lease for about $450 per square meter per year, with showrooms along Collins and Bourke streets available for about $500 per square metre and high-clearance warehouse space for about $280 per square metre.
<img src="/images/stories/collinsonbourke2.jpg">
The four-level, 21,000-square-metre building was developed by HSF Property Developments and Grant Samuel Capital to a design by Turner &amp; Associates Architects.
Vicinity Wine Bar and Restaurant is set to open in the 600-square-metre prime position on the corner of Collins and Bourke in late June, which is when the building will officially open. Vicinity will belong to the Prospero Group, which is responsible for Manta Bar and Restaurant in Woolloomooloo.
The building will also include a Plus Fitness gym at ground level.
Construction began in October 2010 and finished in March this year.
 
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Commercial tenants move into Collins on Bourke in Sydney's Alexandria

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There were 831 sales in Perth for the week ending May 23. This is up from 671 the same week last year and up from the 762 four weeks ago.
<img src="/images/stories/reiwamay25.gif">
 
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Perth sales up 9.1% from four weeks ago: REIWA

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<a href="https://www.propertyobserver.com.au/industry-news/rolls-royce-lifestyle-over-for-refund-founder-wayne-ormond-as-creditors-to-investigate-if-company-traded-insolvent/2012052354812" target="_self"><img src="/images/stories/3.gif"></a>
The number of <a href="https://www.propertyobserver.com.au/industry-news/rolls-royce-lifestyle-over-for-refund-founder-wayne-ormond-as-creditors-to-investigate-if-company-traded-insolvent/2012052354812" target="_blank">Rolls-Royces that Refund Home Loans founder Wayne Ormond owned in the past</a>. He says they have all been disposed of or repossessed.
 
<hr>
 
<a href="https://www.propertyobserver.com.au/retail/zara-apple-and-reviving-cinemas-among-best-performing-westfield-tenants/2012052154767" target="_blank"><img src="/images/stories/2point7percent.gif"></a>
<a href="https://www.propertyobserver.com.au/retail/zara-apple-and-reviving-cinemas-among-best-performing-westfield-tenants/2012052154767" target="_blank"></a>The<a href="https://www.propertyobserver.com.au/retail/zara-apple-and-reviving-cinemas-among-best-performing-westfield-tenants/2012052154767" target="_blank"> turnover for Westfield in the mini-major category, which includes Zara and Apple along with the likes of JB Hi-Fi, Dick Smith and Priceline,</a> for the year to March. “Retailers such as Apple and Zara demonstrate the success that can be enjoyed through an exciting and engaging retail experience. These mini-majors are proving to be great destinational retailers,” said Westfield Retail Trust chairman Richard Warburton in his address to shareholders.
 
<hr>
<a target="_blank" href="https://www.propertyobserver.com.au/queensland/mark-mcivors-gold-coast-palm-beach-vacant-block-listed-by-receivers-title-tattle/2012052254787"><img src="/images/stories/597sqm.gif"></a>
 
The<a target="_blank" href="https://www.propertyobserver.com.au/queensland/mark-mcivors-gold-coast-palm-beach-vacant-block-listed-by-receivers-title-tattle/2012052254787"> size of the Palm Beach vacant block belonging to Mark McIvor</a>, who recently resigned as managing director of Equititrust. It last traded in 1991 at $575,000, seemingly as part of a larger lot at the time. It’s been listed for June 2 receivership auction.
 
<hr>
<a target="_blank" href="https://www.propertyobserver.com.au/developments/record-number-of-melbourne-apartments-to-be-completed-in-2013-followed-by-plummet-in-2014-charter-keck-kramer/2012052354814"><img src="/images/stories/14000.gif"></a>
The possible<a target="_blank" href="https://www.propertyobserver.com.au/developments/record-number-of-melbourne-apartments-to-be-completed-in-2013-followed-by-plummet-in-2014-charter-keck-kramer/2012052354814"> number of apartments that could be completed in Melbourne in 2013, according to Charter Keck Cramer</a>. However, in 2014 the great spurt in the apartment construction, which kicked off in 2011, will at least halve and possibly fall as low as just 4,000 apartments.
<hr>
<a href="https://www.propertyobserver.com.au/retail/perron-group-to-acquire-half-stake-in-three-centro-centres-for-%24690-million-setting-post-gfc-commercial-retail-record/2012051754740" target="_blank"><img src="/images/stories/690point4m.gif"></a>
The price <a target="_blank" href="https://www.propertyobserver.com.au/retail/perron-group-to-acquire-half-stake-in-three-centro-centres-for-%24690-million-setting-post-gfc-commercial-retail-record/2012051754740">privately owned Perron Group has agreed to payto acquire a 50% share in a portfolio of three Centro flagship regional shopping centres</a>. This is a post-GFC record.
 
<hr>
<a href="https://www.propertyobserver.com.au/victoria/top-selling-block-2011-richmond-property-reduces-asking-rent-title-tattle/2012052354806" target="_blank"><img src="/images/stories/1100.gif"></a>
The<a href="https://www.propertyobserver.com.au/victoria/top-selling-block-2011-richmond-property-reduces-asking-rent-title-tattle/2012052354806" target="_blank"> weekly asking rent for one of the four <city style="font-size: 14px; text-align: left;">Richmond</city> properties on the hit Channel 9 renovation series</a> <a href="https://www.propertyobserver.com.au/victoria/top-selling-block-2011-richmond-property-reduces-asking-rent-title-tattle/2012052354806" target="_blank">The Block 2011</a>.  It was the dearest home sold at last year's auction – <a target="_blank" href="https://www.propertyobserver.com.au/victoria/take-two-auction-frenzy-as-only-one-offering-left-on-the-block/2011082351266">the three-bedroom <street>37 Cameron Street</street> Edwardian cottage, which Josh and Jenna sold for $1 million</a> and had a weekly $1,250 asking rent last September.
 
<hr>
<a href="https://www.propertyobserver.com.au/leisure/slim-dusty-duncan-hotel-passed-in-title-tattle/2012052454824" target="_blank"><img src="/images/stories/2poin21m.gif"></a>
The price that the <a href="https://www.propertyobserver.com.au/leisure/slim-dusty-duncan-hotel-passed-in-title-tattle/2012052454824" target="_blank">Town &amp; Country hotel in St Peter's, Sydney, was passed in at.</a> It was immortalised in the Slim Dusty song Duncan. 
 
 
 
 
 
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The 7 must-know numbers of the week, starting with the number of Rolls-Royces Wayne Ormond owned

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66 Lumby Drive, Bateau Bay, NSW, 2261
<img src="/images/stories/bateaubay.jpg" width="470">
This eco-smart four-bedroom home has 1.5kW solar panels and is currently leased at $385 per week, which is at market rent for Bateau Bay houses. The tenants are on an expired lease but are keen to stay on. The house has recently been renovated and has new downlights, carpets and air-conditioning and has a front veranda with valley views.
LJ Hooker agent Paul Witney<a href="https://www.ljhooker.com.au/1MFH3X" target="_blank"> is marketing the property</a> with price hopes of $299000 plus, and if it sells for $299,000, that would secure an investor a gross rental yield of 6.7%, well above the gross indicative yield of 5.1% for Bateau Bay houses, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees.
<a target="_blank" href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT">Washington Brown</a> estimates the first-year tax depreciation deduction to be $4,000 and over five years to be $9,000.
The median house price in Bateau Bay increased 1.3% in the past year, according to RP Data.
The property will be open for inspection Saturday, May 26 at noon and will go to auction Saturday, June 16 at 10am.
For more about prices and yields in Bateau Bay, see the RP Data suburb page.
For another investment prospect open for inspection this weekend, see page 2.
 
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27 Main Road, Neerim South, VIC, 3831
<img src="/images/stories/neerimsouth.jpg">
The tenants of this three-bedroom house are friends with the vendors and are paying significantly below-market rent of $170 per week. They are on a lease until December, but listing agent Pauline Soutar of Harcourts says market rent for the house would be about $250 or $260 per week. The house is on a large 1,115-square-metre block and is within walking distance of shops and transport.
Soutar <a target="_blank" href="https://www.harcourts.com.au/Property/441063/VDN8482/27-Main-Road">is marketing the property</a> with price hopes of $230,000 plus, and if it sells for that price that would secure an investor a gross rental yield of 3.8% at its current rent. A rental of $260 per week would secure an investor a gross rental yield of 5.9%. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees.
<a href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT" target="_blank">Washington Brown</a> estimates the first-year tax depreciation deduction to be $3,000 and over five years to be $6,000.
The property will be open for inspection Saturday, May 26 at noon and will go to auction Saturday, June 2 at 10.30am.
 
 
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Friday form guide: Yields of up to 6.7% in Bateau Bay

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The Australian Competition and Consumer Commission has approved Fairfax Media’s 50% merger with Antony Catalano’s Metro Media Publishing business, publisher of Melbourne real estate advertising glossy The Weekly Review.
The ACCC said last night on its website it was not opposed to the $35 million cash and assets arrangement that sees Fairfax’s 32-mastehead suburban stable rolled in to the new entity, valued at around $125 million. The regulator commenced its review under its Merger Review Process Guidelines in February, and later sought more information from both sides of the tie-up and other interested parties.
The Weekly Review, which first hit footpaths two years ago, competed in parallel with Fairfax’s Melbourne Weekly for property ad supremacy in Melbourne’s leafy eastern, bayside and north-eastern suburbs. It had ripped more than $20 million out of Fairfax’s treasured real estate ad revenue, which it partly uses to subsidise its journalism initiatives.
Fairfax’s existing community footprint of 1.25 million households will now be combined with The Weekly Review’s 220,000 circulation, creating a bolstered entity to take on News Limited’s REA Group.
The merger, <a target="_blank" href="https://www.crikey.com.au/2011/11/09/real-estate-wars-fairfax-set-to-buy-back-half-of-catalanos-weekly-review/">foreshadowed by Crikey last November</a>, will leave Catalano as CEO of MMP. Fairfax acquired its stake by securing stakes from a number MMP shareholders that included leading real estate agents.
In an <a target="_blank" href="https://media.crikey.com.au/wp-content/uploads/2012/05/All.pdf">internal email to Fairfax staff</a>, obtained by Crikey, Fairfax “Marketplaces” executives Nic Cola and Tony Blamey said that “The ACCC decision is a great outcome for both businesses, staff and clients, because it presents us with opportunities for growth and ensures a positive, customer-focused future for our FCN business.
“Fairfax and MMP are both committed to further development of the business model that includes providing real estate agents with the opportunity to participate in product development. Therefore, the merger will also mean that our clients are much more aligned to our future business.”
Catalano was equally effusive: “The merger will position the new entity as a significant media player in the Victorian market,” he said.
“The scale of the merged businesses will provide us with the opportunity to grow into new markets and to develop new products to better suit readers and advertiser needs.
“On a personal level, I am thrilled to reconnect with the enormous talent pool that exists within Fairfax. I spent 18 years working for Fairfax and have great regard for its people and its brands. I am looking forward to the many talented Fairfax Community Network and Metro Media Publishing staff coming together and continuing to grow our business.”
Rumours were circulating this morning that a new Catalano-helmed website will be set up to complement Domain.
It is not known if the merger will lead to synergy sackings. Staff briefings will be held tomorrow morning at Fairfax’s Media House HQ and tomorrow afternoon at Dandenong and Airport West.
Fairfax shares closed at a record low of 65¢ last night.
This article originally appeared on <a target="_blank" href="https://www.crikey.com.au/">Crikey</a>.
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ACCC approves Fairfax-Weekly Review deal

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About 70% of Australian households own their homes, according to Credit Suisse. This is a relatively high percentage when compared with other countries around the world.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/csmay231.gif"><img src="/images/stories/csmay231thumb.gif"></a>
Source: Credit Suisse
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Australian home ownership at relatively high levels: Credit Suisse

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The value of lenders mortgage insurance claims have declined since the GFC, according to Credit Suisse.
Click to enlarge
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Source: Credit Suisse
 
 
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Australian mortgage insurance claims declining: Credit Suisse

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4 Howe Court, Thomastown, VIC, 3074
<img src="/images/stories/howest.jpg">
This property is currently vacant but has been recently tentanted at $300 per week, which Ray White agent Joe Torzillo says is at the market rent for the property. It has three bedrooms and is close to shops, schools, transport and the Western Ring Road. The 26-year-old house is on 602 square metres. It was passed in at its weekend auction for $300,000.
Torzillo<a href="https://www.raywhite.com/vic/thomastown/771925/" target="_blank"> is marketing the property</a> with price hopes of $360,000, and if it sells for $360,000 and if rented at $300 per week, that would secure an investor a gross rental yield of 4.3%. This is about at the indicative gross rental yield for Thomastown houses, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees. Council fees are about $1,000 per annum.
<a href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT" target="_blank">Washington Brown</a> estimates the first-year tax depreciation deduction to be $6,000 and over five years to be $13,000.
The median house price in Thomastown fell by 4.2% in the past year, according to RP Data.
For more about prices and yields in Thomastown, see the RP Data suburb page.
 
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1 Harcourt Street, Blackburn North, VIC, 3130
<img src="/images/stories/harcourt1.jpg">
This property in need of renvation sold at its weekend auction for $450,000 to a buyer who intends to live in it. It had been rented at $310 per week, with a rent increase to $320 per week about to take effect. The tenants were on an expired lease but were keen to stay on. The block is 516 square metres and could be suitable for redevelopment, and Noel Jones agent Tim Penhalluriack says the new owners could possibly talk to a developer later down the track. It is within easy walking distance of North Blackburn Square Shopping Centre, Blackburn High and Old Orchard Primary. It has excellent access to the freeway.
Penhalluriack<a href="https://www.noeljones.com.au/property-details/3931451/" target="_blank"> </a>gave pre-auction price hopes of $420,000 plus.
<a href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT" target="_blank">Washington Brown</a> estimates the first-year tax depreciation deduction to be $3,000 and over five years to be $5,000.
The median house price in Blackburn North fell by 6.7% in the past year, according to RP Data.
For more about prices and yields in Blackburn North, see the RP Data suburb page.
 
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Investor form guide wrap: No takers for 4.3% yields in Thomastown

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Two huge auctions finished off the autumn season of <a href="https://www.propertytycoon.com.au" target="_blank">Property Tycoon</a>, a tipping website where punters can guess auction five results in Melbourne and Sydney, with no outlay. It's mostly about testing your market knowledge with a small cash prize as a sweetener.
<img src="/images/stories/albertcres.jpg">
At 39 Alfred Crescent, Fitzroy North (pictured above), a huge crowd of around 300 people looked on as two punters with deep pockets went toe to toe for almost half an hour and placing around 200 bids. When the bidding stopped the property had sold for $4.2 million.
The property was declared on the market at $3.55 million, so the vendor has netted an extra $650,000.
<img src="/images/stories/crownst1.jpg">
In Sydney the auction of 29/500 Crown Street, Surry Hills (pictured above) yielded a similar result. The uniqueness of the penthouse apartment drove two buyers to dig deep as the bidding stretched into extraordinary levels. The property finally sold for $1.6 million after initially being quoted at $1.2 million plus.
 
 
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Two bidders with deep pockets vied for magnificent Fitzroy North home in auction tipping competition

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<a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/mrs-morris-stops-palm-beach-clifftop-sale-of-ex-gp-noble-boss-tony-morris-former-australian-home/2012051154666"><img src="/images/stories/5m.gif"></a>
The vendor bid in March for <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/mrs-morris-stops-palm-beach-clifftop-sale-of-ex-gp-noble-boss-tony-morris-former-australian-home/2012051154666">ex-GP Noble boss Tony Morris' Palm Beach clifftop home</a>. It was passed in at its March auction, and now his soon-to be-ex-wife, Vanessa Morris-Jackson, has stopped the sale. There was an application to the Australian Federal Magistrates Court by his bankruptcy trustee Andrew Wily to sell it - for reputedly about $4.6 million. But Magistrate Rolf Driver ruled against Wily’s application to delete the requirement for Vanessa’s consent to any sale of the northern beaches clifftop house.
 
<hr>
<a target="_blank" href="https://www.propertyobserver.com.au/residential/what-baby-boomers-retirement-will-mean-for-the-sydney-property-market-bis-shrapnel-s-martin-bregozzo/2012051354458"><img src="/images/stories/25percent.gif"></a>
The percentage of<a target="_blank" href="https://www.propertyobserver.com.au/residential/what-baby-boomers-retirement-will-mean-for-the-sydney-property-market-bis-shrapnel-s-martin-bregozzo/2012051354458"> Sydney's population who are baby boomers</a>. "Location is paramount" to this group, according to BIS Shrapnel's Martin Bregozzo, and "they will not be herded off to Sydney’s Never Never."
 
<hr>
<a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/1st-fleet-s-stephen-brown-owns-just-one-thousandth-of-his-%2416-million-harbourfront-watson-bay-property-listing/2012051354676"><img src="/images/stories/1over1000.gif"></a>
The amount of equity that <a href="https://www.propertyobserver.com.au/new-south-wales/1st-fleet-s-stephen-brown-owns-just-one-thousandth-of-his-%2416-million-harbourfront-watson-bay-property-listing/2012051354676" target="_blank">1st Fleet boss Stephen Brown has in his Sydney Harbour home</a>, which is on the market with $16 million price hopes. His wife, Corrine, holding the remaining 999/1,000 equity.
 
<hr>
<a target="_blank" href="https://mcconnellbourn.com.au/buying/NSW/North-Shore-Upper/PYMBLE/House/1P2397"><img src="/images/stories/31.gif"></a>
The number of contracts estate agency McConnell Bourn has received for the property at at <a target="_blank" href="https://mcconnellbourn.com.au/buying/NSW/North-Shore-Upper/PYMBLE/House/1P2397">55 Beechworth Road, Pymble</a>, which is going to auction on Saturday.
 
<hr>
<a target="_blank" href="https://www.propertyobserver.com.au/western-australia/warren-andersons-wa-beachfront-retreat-kennebunkport-s-revised-pricing-title-tattle/2012051454623"><img src="/images/stories/5point2mplus.gif"></a>
The revised price hopes for Kennebunkport, the <a target="_blank" href="https://www.propertyobserver.com.au/western-australia/warren-andersons-wa-beachfront-retreat-kennebunkport-s-revised-pricing-title-tattle/2012051454623">Western Australian beachfront retreat of bankrupt property developer Warren Anderson</a>. The six-bedroom home has direct beach access, high ceilings and jarrah floors.
 
<hr>
<img src="/images/stories/2.gif">
The number of lenders that passed on the full RBA 50-basis-point rate cut. Of the bigger lenders, ING Direct is offering the lowest standard variable rate of 6.44%.
 
<hr>
<a href="https://www.propertyobserver.com.au/overseas/christopher-robins-16th-century-childhood-home-on-nine-not-100-acres-on-the-market/2012051554699" target="_blank"><img src="/images/stories/2mpounds.gif"></a>
The starting price <a href="https://www.propertyobserver.com.au/overseas/christopher-robins-16th-century-childhood-home-on-nine-not-100-acres-on-the-market/2012051554699" target="_blank">for the East Sussex childhood home of Christopher Robin, of Winnie the Pooh fame</a>. It’s the first time in over four decades the 16th-century English house on nine (not 100) acres has been offered for sale.
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The 7 must-know numbers of the week, starting with the vendor bid for ex-GP Noble boss Tony Morris' Palm Beach home

<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.

&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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Cassidy Knowlton

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