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Every capital city has both a CBD and suburban office market. And as you can appreciate, keeping tabs on all the various suburban markets is almost an impossible task for most investors.
But generally speaking, the health (or otherwise) of the CBD office market within each capital city will provide you with a fairly good gauge of the overall office scene around Australia.
Accordingly, this graph will provide you with a clear picture of what has occurred over the past four years.
<img src="/images/stories/langjan20.gif">
As a rule of thumb, office markets are said to the "in balance" when their vacancy rate lies between 5% and 7%.
A vacancy rate within this range provides landlords with consistent rental growth and tenants with the ability to relocate or expand, with few constraints.
As a commercial property investor, what you are seeking is solid predictable growth — rather than wildly frustrating fortunes.
So let's take a quick look at how the vacancy rates for each capital city have fluctuated over the past four years.
<img src="/images/stories/langjan201.png">
As you can see from this table and graph, of all the capital cities, Melbourne remained pretty much within the "balanced" range over this period – despite the global turmoil.
Whereas, once the turmoil struck:
The vacancy rate for Brisbane, Perth and Adelaide overshot that balanced range in the opposite direction.
Sydney's vacancy rate remained around 8% because of its high concentration of financial institutions; and
Canberra's high vacancy rate simply reflected some major government relocations.
Throughout this period, the Melbourne market experienced only a 2.7% spread between its lowest and highest vacancy rate.
Whereas Brisbane and Perth experienced spreads of 10.7% and 8.3%, respectively.
Such wild fluctuations can bring untold joy as long as you're lucky enough to get out before the inevitable collapses, which tend to occur in these rather volatile markets.
That way, you can avoid the accompanying financial heartache.
Bottom line: If you're like most investors, you probably prefer being able to sleep peacefully, knowing that your growth is predictable and secure.
Therefore, unless you are an experienced on-the-ground trader in commercial property, you would be well advised to steer clear of the rather volatile markets in both Brisbane and Perth.
Right now, Melbourne offers you the greatest surety of long-term profit for commercial property — with Sydney expected to respond once the financial turmoil subsides.
Chris Lang is an advisor to commercial property investors and gives keynote speeches and regular seminars on the best way to invest in commercial property. He maintains a blog, <a target="_blank" title="Chris Lang's blog" href="https://his-best.biz/">his-best.biz</a>, which he updates regularly about the best way to get the most out of your commercial property investment.
 
 
 
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What an office vacancy rate means for commercial property investment

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At last Friday's annual general meeting, ANZ chief executive Mike Smith told the ANZ shareholders he was optimistic about the Australian economy due to its proximity to fast-growing Asia.
In China, the economy grew at 9% over the year. And while many commentators talk about the risks to growth in China, I have been there regularly this year and I am confident about the ability of the Chinese government to manage inflationary pressures and managed the shift from export-led growth, to growth based on more internal demand.
By the way, isn't that exactly what you've been reading right here, in some of the recent articles?
You will find that most commentators are focused on the short-term issues in the north Atlantic and have tended to overlook the bigger picture.
During every generation, there is generally a structural change in global economic activity. And right now, you are simply witnessing a shift the world's economic centre of gravity.
The influence of the British Empire was surpassed by American economic dominance after the Second World War. And now that dominance seems to be shifting from the advanced Western economies as a whole  across to a growing group of emerging economies.
China's current growth rate of 9% per annum is closely followed by India, at around 7% per annum. But you cannot ignore other emerging economies like Brazil, Indonesia and Vietnam.
With a population of around 240 million, Indonesia has the world's fourth-largest population. And in terms of overall net worth, it surpassed Australia's economy about five years ago.
Bottom Line: You only need to look at the number (and size) of the purchases of commercial property made by Asian buyers over the past year or so to realise the Australian property market is seen by them as a safe haven.
The sheer volume of Asian funds poised for investment means those investors need to look outside their own countries — simply to balance their portfolios, and spread their risk.
Therefore in 2012, you will hopefully recognise this tidal wave of activity for what it is. And more importantly, realise the positive impact it will have upon commercial property values in Australia.
Now is the time to position yourself to be able to ride that wave, over the next five to six years.
Chris Lang is an advisor to commercial property investors and gives keynote speeches and regular seminars on the best way to invest in commercial property. He maintains a blog, <a target="_blank" title="Chris Lang's blog" href="https://his-best.biz/">his-best.biz</a>, which he updates regularly about the best way to get the most out of your commercial property investment.
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Asian interest makes Australian commercial property a good investment

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All you need is a sprinkling of confidence, with an understanding that things are not as bad as you read in many newspapers.
For some time now, I have been trying to explain how the underlying fundamentals for Australia's economy and commercial property are strong.
And a recent AFR headline, “Recruitment boom bucks the trend” (December 9, 2011, page 41) now confirms that our major law firms are "in the midst of a hiring spree".
However, if you still need some more convincing of Australia's wellbeing, just take a look at these two graphs.
<img src="/images/stories/confidence.gif">
Clearly, two positive aspects emerge:
Our economy is outperforming other major countries; and
Australia has actually surged ahead since the global financial crisis in 2008 – whereas other countries have barely clawed back to where they were.
Despite retailer complaints regularly making headlines, overall household spending forms a major part of that growth. In fact, consumer spending grew by 1.2% in the quarter (and 3.8% over the year) to September.
Furthermore, incomes are growing, along with a record terms of trade. Plus, corporate profits surged 5.7% for the quarter — climbing to 10.7% for the year.
Moreover, business investment is up 12.9% for the quarter — representing a 22.7% increase for the 12 months to September.
Unfortunately, you can't cajole (nor control) a country's level of confidence, because it is a very fragile commodity.
However, the Westpac-Melbourne Institute Consumer Sentiment Index and the NAB monthly business survey are both showing a general improvement in confidence.
Bottom Line: It should only take a little “think time” over our extended summer break for the penny to drop. And when it does, people will quickly begin to raid that pile of savings they've been squirreling away.
I hope the latest interest rate reduction will provide the encouragement needed for serious investors to realise that now is the time to step back into the commercial property market.
And just make sure you do so, before this rare opportunity dawns upon everyone else.
Chris Lang is an advisor to commercial property investors and gives keynote speeches and regular seminars on the best way to invest in commercial property. He maintains a blog, <a href="https://his-best.biz/" title="Chris Lang's blog" target="_blank">his-best.biz</a>, which he updates regularly about the best way to get the most out of your commercial property investment.
 
 
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Now is the time to invest in commercial property

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Last week, The Australian newspaper invited three commercial property experts to respond to the following question: If China's growth story begins to peter out, what will be the impact on Australia's commercial property market?
Those experts included Greg Marr (managing director of DTZ), Tony Crabb (research head of Savills), together with me (as chief executive of Properly Edge Australia).
You can read all three responses, which appeared in Saturday's Weekend Australian. What I've included here below is my contribution to that analysis.
Don’t be misled by the doom-and-gloom merchants peddling a story along the following lines.
"The European crisis is causing sluggish recovery for the US. And together, they are adversely affecting China — as is shown by its annual growth declining from 12.5% per annum in 2008 to its current level of around 9% per annum.
"As Australia depends heavily on China, our economy and therefore commercial property market are at risk. Furthermore, banks are likely to be a squeezed for funds to lend."
Australia's only faint connection with the North Atlantic problems is one of mindset — being when stock markets fall, we generally feel far less optimistic. But you actually need to look a little deeper than that.
This has been deliberately orchestrated to regain control of inflation.
In 2008, China's 12.5% per annum growth contained 3% to 4% of exports to Western countries. Today, its still healthy growth of 9% per annum is being driven by its latest five-year plan — focusing upon internal infrastructure and increased domestic demand for its own output.
Fortunately for Australia, China still requires our natural resources in abundance to underpin its massive domestic expansion plans, over the next decade.
Therefore, the likely impact of the current North Atlantic problems on China will be minimal — likewise for the Australian economy and commercial property.
Australian banks' wholesale (offshore) funding needs are determined by the amount they lend and the deposits they can arise from the domestic market.
Since 2008, the banks have reduced their dependence upon offshore funding by a third — now providing only 20% of their funding needs. In turn, they have raised (from 40% to 50%) their contribution from domestic deposits.
Therefore, with lower credit growth and increased domestic deposits, banks will need to draw far less upon offshore funding over the next 12 months.
Whenever people are confused, they tend to do nothing. But don't allow yourself to be distracted by short-term thinking.
Australia's underlying fundamentals for commercial property and the economy are strong. Supply of office and industrial space is quickly falling through strong demand.
And now is the time to you set yourself up for the next five to six years of stable growth.
Chris Lang is an advisor to commercial property investors and gives keynote speeches and regular seminars on the best way to invest in commercial property. He maintains a blog, <a href="https://his-best.biz/" title="Chris Lang's blog" target="_blank">his-best.biz</a>, which he updates regularly about the best way to get the most out of your commercial property investment.
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Why commercial property investors don't need to worry about China

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According to the Australian Retailers Association, its members are projecting $39.5 billion in sales from mid-November until Christmas — reflecting an overall increase of just 2% on last year.
Many shoppers still remain extremely hesitant, despite the RBA's recent interest rate reduction.
However, with household savings at record levels, people may simply be holding back on their main splurge until the post-Christmas sales.
Either way, the retail sector is delicately poised at the moment.
Most fashion and other specialty shops are finding things really tough, although restaurants, wine bars and other "entertainment" outlets have been reporting steady business.
Sure, online shopping has grabbed the headlines over the past 12 months.
However, it seems there is also a growing number of people using larger regional shopping malls to carry out their initial research. And then they return to their neighbourhood strip centres — where they can browse in relative peace and receive far more personal attention.
If they are going to part with their hard-earned savings, shoppers appear to want (and now expect) some old-fashioned service.
In other words, shopping now needs to offer an enjoyable experience — and not merely be an endless selection of basically the same products, simply in different stores.
For many, discounting alone will no longer motivate them to buy. Most shoppers are now seeking out friendly interaction, together with genuine personal service.
Originally, discounting destroyed store loyalty, as people focused on obtaining that product as cheaply as possible, from whoever was offering them the best price.
But slowly, the wheel is turning mainly because people are feeling rather "discounted out".
Don't misunderstand – everyone still loves a bargain. But this now seems to be mainly related to generic fashion items.
For anything a little more intimate, and portraying your personality, you will find shoppers gravitating towards stores providing them with one-on-one guidance in making their final choice.
Bottom Line: While this emerging trend is certainly interesting, as a commercial property investor, you will find it almost impossible to pick between the good and bad specialty traders when choosing who will be the stronger tenant over the next three to five years.
As such, you should stick with the "entertainment" group for your tenants if you do wish to invest in retail property at the moment.
Alternatively, seek out shops with quasi-retailers, like banks, travel agents, solicitors, accountants or real estate agents — all of whom are far less dependent upon passing traffic.
Chris Lang is an advisor to commercial property investors and gives keynote speeches and regular seminars on the best way to invest in commercial property. He maintains a blog, <a href="https://his-best.biz/" title="Chris Lang's blog" target="_blank">his-best.biz</a>, which he updates regularly about the best way to get the most out of your commercial property investment.
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Entertainment, rather than fashion, is a safer commercial property investment

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The underlying fundamentals for Australia are strong. All that's needed is a lift in the general confidence level for our economy to really take off.
Therefore, the trick is not to be caught by surprise when it does!
Australia's "recession pundits" fail to realise this only happens when planned business investment falls dramatically. But currently, miners have around $430 billion already in the pipeline.
And the rest of the business community has around $470 billion in planned investment over the next 18 months.
Moreover, China's current 9.5% per annum growth in GDP is principally being driven by domestic demand, whereas its 12% per annum figure for 2007-08 contained 3% to 4% of exports to Western countries.
Our banks have reduced their dependence upon offshore funding by a third since 2008. And they have also raised (by 25%) their contribution from domestic deposits.
Clearly, the increased level of available cash savings held by households (now at $516 billion) and businesses ($166 billion) has been adversely affecting day-to-day spending. But don't allow your personal investment decisions to be constrained by short-term thinking.
Understand that these "savings" were accumulated on a weekly or monthly basis. But once people flick on the "confidence" switch, all those funds will then be spent as massive lump sums.
Fortunately for Australia, the end of every year comes with a summer break of about a month before everything gets back into full swing.
During this time-off period, people will have the chance to clear their heads of what has been a rather messy 2011.
Bottom Line: Provided Europe makes it through to Christmas with no further surprises, Australians will return from their holidays mentally refreshed and ready to move forward strongly in 2012.
Therefore, make sure you avoid being caught up in the clamour of the New Year — and try to secure some good commercial properties this side of Christmas.
Chris Lang is an advisor to commercial property investors and gives keynote speeches and regular seminars on the best way to invest in commercial property. He maintains a blog, <a target="_blank" title="Chris Lang's blog" href="https://his-best.biz/">his-best.biz</a>, which he updates regularly about the best way to get the most out of your commercial property investment.
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Next year will be good for commercial property investment

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The Queensland economy has been slow to recover from all its natural disasters. But its industrial property sector has been quick out of the blocks.
The boom in Queensland gas now has Brisbane with the lowest vacancy rate for industrial property.
Next comes Melbourne — with Sydney well back in third place, according to a recent survey by Knight Frank.
And increasing demand will put further upwards pressure on rentals, thereby encouraging more developers into the market.
While the Brisbane market is gas-driven, Melbourne (which is Australia's largest industrial market) enjoys a much wider tenant profile.
As such, its increase in speculative A-grade buildings has been readily absorbed over the past 12 months.
Sydney, however, his languished somewhat — with a cautious market showing an even split in the take-up, between A- and B-grade facilities.
Bottom Line: Industrial property is poised for some good rental and capital growth over the next few years, as yields start to firm.
Chris Lang is an advisor to commercial property investors and gives keynote speeches and regular seminars on the best way to invest in commercial property. He maintains a blog, <a href="https://his-best.biz/" title="Chris Lang's blog" target="_blank">his-best.biz</a>, which he updates regularly about the best way to get the most out of your commercial property investment.
 
 
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Outlook good for industrial property

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The commercial property market is driven mainly by supply and demand, especially offices.
And therefore, with falling vacancies, positive net absorption and few new projects in the pipeline, this means a looming shortage of office space around Australia — with rentals poised to rise sharply.
A recent study by Savills shows a 22% decline in available full floors nationally — currently sitting at 591 floors in September this year.
With the surge in the mining sector, Perth had a 50% fall to 65 available prime floors over the past two years.
And in Brisbane the number of prime floors available has declined 32% (to 99 floors) over the past 15 months, as its mining sector also regains momentum.
The Melbourne office vacancy rate has remained consistently low (currently at around 5.3%) due to a more even balance in its tenancy mix. Plus, most of the new Docklands projects proceeded with significant pre-commitments.
As such, it has mainly been back-fill space (left by relocating tenants) that has provided the 56 vacant floors within the Melbourne CBD.
Sydney also enjoyed a decline of over 20% in full floors. However, it still has about 260 prime floors available —just under half of the total number of floors available nationally.
Bottom Line: With the lack of any major new construction until around 2013-14, vacancy rates will continue to fall. In turn, this will cause sharp increases in both rentals and capital growth — making commercial property a great performer over the next five years.
Chris Lang is an advisor to commercial property investors and gives keynote speeches and regular seminars on the best way to invest in commercial property. He maintains a blog, <a href="https://his-best.biz/" title="Chris Lang's blog" target="_blank">his-best.biz</a>, which he updates regularly about the best way to get the most out of your commercial property investment.
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Falling vacancies make offices a good commercial investment

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Did you realise that some of the repairs you make to your commercial property are not necessarily deductible against your rental income?
Often, it comes down to something as simple as timing.
As a general rule: Any repairs made to a commercial property held for the purpose of producing assessable income are deductible — so long as they are not deemed to be of a capital nature.
In other words, your repairs must directly relate to "wear and tear". Or they must be as a result of a breakdown or damage caused, in the process of gaining rental income from the property.
Furthermore, your commercial property must continue to be rented on an ongoing basis for you to be able to claim these repairs as deductible. However, the property need not always be occupied — so long as it is being actively marketed for lease.
What are some of the exceptions to you being unable to claim deductions? Broadly speaking, they appear to fall into three categories.
These relate to items requiring immediate attention in order to rectify any defects or damage existing at the time you first acquire a commercial property. Such things may include fixing items of equipment, repairing sections of the carpet or simply repainting walls.
While these repairs may not be deductible against rental income, they can be added to your initial cost base for the purpose of reducing your capital gains tax down the track.
Once again, items of this nature are not immediately deductible. However, you may be able to depreciate a significant portion of them over your period of ownership.
Otherwise, they will also form part of your cost base for the purposes of calculating GST.
Here you're talking about things like complete replacement of the roof, air-conditioning or security system.
Again, these items would be treated as capital in nature and would form part of your cost base. But they can also provide you with some handy structural depreciation.
There is one line of thinking that these "replacements" could become "repairs", if they were spread over two financial years. But it would be best for you to explore that further with your tax lawyer or accountant.
Bottom line: It's always worthwhile to seek professional advice from the outset in order to maximise your opportunity to claim repairs to commercial property as tax-deductible.
Chris Lang is an advisor to commercial property investors and gives keynote speeches and regular seminars on the best way to invest in commercial property. He maintains a blog, <a href="https://his-best.biz/" title="Chris Lang's blog" target="_blank">his-best.biz</a>, which he updates regularly about the best way to get the most out of your commercial property investment.
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Not all repairs on your commercial property investment are tax-deductible

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Commercial property requires a little more thought than residential property. But the rewards are solid, and generally, more predictable.
Simply keep these five aspects in mind when it comes to choosing commercial property.
1. Location
For commercial property, location is more than a simple matter of demographics. Each property type requires its own set of unique attributes.
For instance: retail centres depend upon road access, high foot traffic and a local population of adequate size to support its tenants. Office buildings benefit from nearby freeways or public transport, coupled with support activities nearby.
2. Tenants and leases
When evaluating a commercial property, pay careful attention to the tenancies.
A good mix of stable tenants means are greater likelihood of you collecting rent in the future. Pay careful attention to the length of each tenant's initial lease term, as well.
Having long leases is usually better than having short leases. But you shouldn't have every lease falling due at once — instead you should stagger their expiry dates, to minimise your risk.
3. Have an exit strategy
Property investors typically focus on maximising the return on their equity.
As you own a property for a period of time, you continue to build equity through both increases in the property's value and reducing your mortgage. Over time, your growth rate will stabilise –  indicating that it could be time to find a replacement property.
When buying a Commercial property, my recommendation would be to undertake a formal review every four years.
4. Make allowances for capital expenditure
In marketing commercial property, the stated net income typically excludes capital expenditure like roof replacement, or any other required upgrades. Your due diligence should flag these, and a preventative maintenance program can also help in preserving your future cash flow.
5. Liquidity vs leverage 
Most investors know that leverage (or debt) can help in the hands positive swings in the market and significantly increase your returns. Unfortunately, the use of leverage can also limit the amount of money that they have available for emergencies.
With this in mind, you should also set aside a pool of funds — to help cover up to six months’ worth of interest, if the need should arise down the track.
Chris Lang is an advisor to commercial property investors and gives keynote speeches and regular seminars on the best way to invest in commercial property. He maintains a blog, <a target="_blank" title="Chris Lang's blog" href="https://his-best.biz/">his-best.biz</a>, which he updates regularly about the best way to get the most out of your commercial property investment.
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Five criteria for buying commercial property

A collection of just 25 large-format apartments and penthouses overlooking Goodwin Park is entering the Coolangatta market, with <a href="https://www.apartments.com.au/new-apartments/marea-residences-coolangatta-27-27a-dixon-street-coolangatta-qld-4225">Maréa Residences</a> combining a low-density, residential-only approach with uninterrupted park and Pacific Ocean outlooks.

Located at 27 Dixon Street, Maréa comprises three and four-bedroom residences alongside a limited number of dual-level penthouses, with the project positioned between Goodwin Park and <a href="https://www.apartments.com.au/developments/coolangatta-qld-4225">Coolangatta</a>’s coastal precinct.

Construction has commenced, with completion currently estimated for late 2027. Three-bedroom residences are priced from $1.8 million.

[smartcode_project:default project_id=150999 project_image_fid=374005]

The project has been designed around its northern outlook across the park, with the building’s architecture, landscaping and material palette intended to establish a connection with the neighbouring green space. The residences have been configured to maximise natural light and views across Goodwin Park towards the ocean.

Inside, the material palette incorporates timber, stone and brushed brass, complemented by curved detailing and ambient lighting. Kitchens and bathrooms carry the same natural material approach, while residences also include basement parking, storage and lift access.

Maréa’s penthouses are arranged over two levels and include private pools, adding another layer to the project’s focus on larger-format apartment living. Across the development, residences are configured with three or four bedrooms rather than the broader mix of smaller apartment types commonly found in larger projects.

[smartcode_project:default project_id=150999 project_image_fid=374010]

Resident amenity is concentrated at rooftop level, where landscaped entertaining terraces and pools take advantage of elevated views across Coolangatta and the Pacific Ocean.

The project has so far been particularly well received by local owner-occupiers and downsizers, according to Urban Activation Property Sales and Marketing Director Matt George, with the residential-only format, construction quality and northern park outlook among the features resonating with purchasers.

“The uninterrupted northern aspect overlooking Goodwin Park has been a key point of difference, with buyers attracted to the sense of serenity and open space the park provides, while still enjoying easy access to the ocean and being within walking distance of the lifestyle and amenities Coolangatta has to offer,” George said.

[smartcode_project:default project_id=150999 project_image_fid=374002]

“The combination of high-quality construction, a residential-only building, park outlook and proximity to the beach has resonated strongly with the local downsizer market.”

The Dixon Street address is within walking distance of Coolangatta Beach and the broader southern Gold Coast coastline, including the surf breaks at Snapper Rocks and Kirra. Coolangatta’s cafés, restaurants and retail are nearby, while Gold Coast Airport is also within close proximity.

[smartcode_project_cta:default project_id=150999]

Joel Robinson

Maréa Residences brings parkside apartments to Coolangatta

Melbourne developer PDG has secured Victorian Government approval for its $1.5 billion Southbank development <a href="https://www.apartments.com.au/new-apartments/the-one-1-queens-bridge-street-southbank-vic-3006">The One</a>, clearing the way for the long-dormant riverfront site opposite Crown to finally be developed.

The Minister for Planning has approved the project at 1-29 Queens Bridge Street, with the Department of Transport and Planning issuing the planning permit following its assessment.

The approval will allow PDG to develop the prominent 5,059 sqm site with a major mixed-use tower comprising premium apartments, including branded residences, a luxury hotel and boutique office space.

PDG acquired the site in late 2024, with its position directly opposite Crown's main entrance and near Melbourne's Arts Precinct making it one of Southbank's most significant remaining development opportunities.

<img alt="PDG" data-entity-type="file" data-entity-uuid="3933013e-6332-4386-b9be-089df05caf17" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.22%E2%80%AFAM.png?VersionId=sITIgBqDL0N3VNSMwWEmF5UA.uvcsRyu" />

Designed by COX in collaboration with ODO and PDG, the tower's architecture draws on the movement of the Yarra River, with six vertical pleats running the height of the sculpted facade.

The project will also see the heritage-listed Queens Bridge Hotel restored and incorporated into the development&nbsp;with new hospitality and public uses, including a rooftop venue.

A significant component of The One will be its residential amenity.

More than 5,000 sqm of resident facilities will be delivered across a single level, making it one of the largest consolidated residential amenity offerings proposed in an Australian apartment development.

The planning approval also incorporates a major upgrade of Queensbridge Square, which PDG will deliver in partnership with the City of Melbourne.

<img alt="PDG" data-entity-type="file" data-entity-uuid="73167fcd-1031-4b6f-a408-a064cfe45ed1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.17%E2%80%AFAM.png?VersionId=Pf1AEWxw6SNmBqR0zQW5lyEze.MtxgFp" />

The existing square will be revitalised as a new civic and pedestrian space along the Yarra River, strengthening the connection between the project, Southbank and the riverfront.

PDG Founder and Managing Director Vince Giuliano said the approval represented a major milestone for a site which has remained largely underutilised for more than 15 years.

“This is the most significant Planning Permit approval Melbourne has seen in recent years,” Giuliano said.

“For more than 15 years, this site has remained underutilised. This approval enables us to deliver a project that will contribute meaningfully to the revitalisation of Southbank, restore and reactivate an important heritage building, and create a new civic and hospitality destination for Melbourne.”

The latest approval follows an earlier planning permit issued by the City of Melbourne covering demolition works across part of the site at 9-29 Queens Bridge Street. Those demolition and early works are already underway.

PDG has also started generating early interest in the residential component from owner-occupiers ahead of a planned public launch in early 2027.

PDG secures approval for $1.5bn Southbank apartment development, The One

Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

First look: Harridan plans Burke Street transformation beside Boggo Road transport hub

IN BRIEF

<ul>
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	Just three double-storey Sky Homes sit at the top of The Waterline, each with its own private marina berth and rooftop terrace.
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	Construction on The Waterline is complete, with the first residents expected to move in from mid-October.
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	Sky Homes range from 282 sqm to 367 sqm and are priced from $3.65 million.
	</li>
</ul>

<hr />
Lewis Land has opened the first completed sky home for inspection at Harbour Shores, giving buyers their first opportunity to step inside one of just three double-storey residences crowning The Waterline.

Each sky home comes with its own private marina berth, rooftop terrace and Broadwater views, combining the scale of a larger home with direct access to the boating lifestyle that underpins the wider <a href="https://www.apartments.com.au/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters-qld-4216">Harbour Shores</a> masterplan.

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Lewis Land Head of Development Michael Long said the inclusion of a berth with every Sky Home had become increasingly valuable as marina access across the Gold Coast tightened.

“Marina berths are becoming increasingly difficult to secure across the Gold Coast, so including one with every Sky Home makes this a genuinely rare offering,” Long said.

“The private 70-berth marina will accommodate boats up to 12 metres in length and is positioned just 2.5 kilometres from the Broadwater, placing the open ocean only 15 minutes away.

“Being able to step out of your home onto your boat is a rare luxury, and it’s something residents here can look forward to when it opens later this year.”

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The display opening comes as construction completes on The Waterline, with the first residents expected to move in from mid-October.

The three Sky Homes range from 282 sqm to 367 sqm and each feature three bedrooms, three bathrooms, multiple living zones, expansive kitchens with butler's pantries and large balconies taking in the Broadwater outlook.

Each residence also has three secure basement car spaces and additional storage.

“This is the first opportunity the Gold Coast has had to step into Harbour Shores and see, touch and feel what we’re bringing to life here,” Long said.

“There are only three Sky Homes within The Waterline, ranging in size from 282sqm to 367sqm, with each residence featuring three large bedrooms, three bathrooms, multiple living zones, expansive custom-built kitchens with butler’s pantry, and large balconies capturing Broadwater views.”

<img alt="Harbour Shores" data-entity-type="file" data-entity-uuid="bab65e10-4fab-45e1-92d8-fc56e2ab98ff" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%202.00.16%E2%80%AFPM.png?VersionId=XT8q76LsPkw3cYTsvN3JfFDaPLud90PN" />

Residents of The Waterline will have access to a private pool, along with Harbour Shores' wider collection of amenity including a lagoon pool, social clubhouse, tennis court, gym, yoga facilities and sauna.

Lewis Land partnered with Studio Collective to furnish the completed display, with the interiors designed to demonstrate how the residences could function as permanent homes rather than simply as show apartments.

Studio Collective Director Melissa Park said the surrounding waterways informed the interiors, but in a more restrained way than a traditional coastal scheme.

“We drew inspiration from the canals and coastal surrounds, but our approach was to interpret that subtly through layered materials and a grounded palette of earthy tones, rather than literal coastal references,” Park said.

“We introduced hero moments of green and teal to reference the surrounding waterways, while mirrored elements help reflect natural light.

“The result is a residence that feels elevated yet comfortable, somewhere buyers can genuinely imagine themselves living, entertaining and unwinding.”

Sky Homes are priced from $3.65 million.

Lewis Land is also offering private marina berths with The Residences, its limited collection of three and four-bedroom villas positioned directly along the Harbour Shores waterfront boardwalk.

Three-bedroom villas are priced from $2.99 million, while four-bedroom residences start from $3.19 million.

Harbour Shores is being marketed by Colliers International.

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Lewis Land opens sky home display as The Waterline completes at Harbour Shores

St Vincent de Paul Society Housing Australia has filed plans for a major mixed-use housing precinct on the southern edge of the North Sydney CBD, adding another significant proposal to a pocket around North Sydn​ey Station that is quickly becoming one of the LGA's busiest development zones.

The State Significant Development Application covers a 5,990 sqm site at <a href="https://www.apartments.com.au/new-apartments/1-19-mackenzie-street-lavender-bay-nsw-2060">1-19 MacKenzie Street and 211 Blues Point Road in Lavender Bay</a>, immediately south of Nor​th Sydney Station and between the commercial core and the lower-rise Lavender Bay Heritage Conservation Area.

Designed by Wardle, the proposal would deliver a new residential tower comprising 88 build-to-sell apartments and 19 affordable apartments, alongside a separate co-living building with 57 rooms and a building manager's studio.

It would also see the significant restoration and upgrade of St Francis Xavier Catholic Church, the adaptive reuse of the former school building, new parish facilities, retail, a new public square and around 1,000 sqm of publicly accessible open space.

<img alt="Vinnies North Sydney" data-entity-type="file" data-entity-uuid="d5dd7f87-a617-463e-b577-17541e01f0e9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.13%E2%80%AFAM.png?VersionId=4R8TsFN3P_LrrXO2HswTOIrx2blil8lh" />

The project is seeking a concurrent rezoning of the site to R4 High Density Residential and an increase in the maximum building height to allow a tower reaching RL120, or up to 20 storeys. The proposal was progressed through the NSW Government's Housing Delivery Authority pathway.

The build-to-sell component will be weighted toward larger apartments, with just six one-bedroom apartments compared with 31 two-beds, 43 three-beds and eight four-bedroom residences.

The 19 affordable apartments will comprise two studios, 15 one-bedroom apartments and two two-bedroom apartments, taking the total apartment component to 107 residences before the 58 co-living rooms are included.

<img alt="Vnnies" data-entity-type="file" data-entity-uuid="7d568ca5-cb90-4e18-96c6-d9795dba0c56" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.05%E2%80%AFAM.png?VersionId=GY2R5M9VtQh0EKy1vajaea19PSLOPuRD" />

Wardle's design for the Vinnies site has sought to negotiate that emerging high-rise context while retaining the lower-scale character of MacKenzie Street and the adjoining heritage conservation area.

The main building adopts a three-storey podium and tower arrangement, with the podium aligned to the ridgeline and front setback of St Francis Xavier Church.&nbsp;Wardle has designed the podium with colonnades, seating, recessed entries and active ground-floor frontages, with sandstone-toned precast concrete and face brick referencing the materiality of the existing church.

The tower then steps back eight metres to the south and six metres to the north before rising in a sculpted form comprising four interlocking quadrants. Wardle has also introduced rounded forms and chamfered corners to reduce the tower's perceived bulk and improve view sharing with neighbouring development sites.

Resident facilities and outdoor areas are planned at the separation between the podium and tower at Level 3, oriented toward Sydney Harbour and the CBD skyline.

The tower itself will feature a glass reinforced concrete facade, with recessed balconies and deep reveals used both to provide shading and privacy and frame views toward the harbour and city. The lower levels take a different architectural approach, using brick and sandstone-toned finishes intended to establish a stronger relationship with St Francis Xavier Church. The Church itself will be conserved and upgraded for its continued use, while the former school building will be adaptively reused as part of the co-living component.

<img alt="Lavendar Bay" data-entity-type="file" data-entity-uuid="2d4418ad-90aa-4d49-af93-c80b140aea80" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.09.47%E2%80%AFAM.png?VersionId=Kv4gzbsACaGvZSRuaqcfGC54jEJRXIDJ" />

&nbsp;

The proposal adds to an increasingly concentrated pipeline of residential development around Blue Street, MacKenzie Street and Lavender Bay.

Just west of the site, Central Element lodged plans earlier this year for one of the most significant residential developments proposed in Lavender Bay in recent years.

Central Element's SJB-designed scheme at 64-66 Lavender Street and 3-7 Middlemiss Street would deliver 163 apartments across two towers rising 23 and 32 storeys, replacing five existing apartment buildings containing 32 homes. The project also forms part of the Housing Delivery Authority pathway.

<a href="https://www.apartments.com.au/news/nsw/first-look-central-element-reveals-lavender-bay-apartment-plans?utm_source=chatgpt.com" rel="noopener" target="_blank">First look: Central Element reveals Lavender Bay apartment plans</a>

Immediately around North Sy​dney Station, another two significant proposals have emerged at 5 and 15 Blue Street.

Zurich Australian Insurance Properties is seeking to adaptively reuse its longstanding commercial building at 5 Blue Street, directly above North Sydney Station, rather than demolishing the structure.

Its SSDA proposes converting the building into a 14-storey mixed-use development with 62 apartments and 86 co-living rooms, together with ground-floor retail and a major refurbishment of Blue Street Plaza. The application is currently at the Response to Submissions stage.

<a href="https://www.apartments.com.au/news/nsw/first-look-zurich-targets-north-sydney-office-conversion-with-148-unit-proposal-above-metro-station">First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station</a>

&nbsp;

Chris Lang

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