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Geelong's most notorious eyesore is on the market once more, after a 30 year development saga.
Tim Truong has relisted the vacant corner site at 10 Bellerine Street through <a href="https://www.realcommercial.com.au/property-retail-vic-geelong-501209787" target="_blank">KBL Commercial Real Estate</a>.
The 1,548 square metre property, first opened as the Belle Vue Hotel in 1853, is listed with a $3 million to $7 million price guide.
Although Truong pulled the site off the market after less than a month last year, selling agent Michael Lewin told The Geelong Advertiser that this time, he was ready to sell.
"We have been dealing with the vendors for many years and he is a genuine seller,” said Lewin.
“We have an authority signed by the vendor to sell by way expression of interest.”
He also said that Truong's family was open to discussions about the price.
Months before last year's short-lived listing, Truong reportedly said he had plans to spend $40 million developing the property.
According to The Geelong Advertiser, Truong previously lodged plans to develop on the site with the council five times: in 1984, 1988, 2003, 2004 and 2006. It currently falls within the council's Activity Central Zone.
KBL Commercial Real Estate will accept expressions of interest until Thursday 31 July at 4pm.
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jrichardson-uRX5hFdKfN

Putting on The Ritz: Geelong eyesore relisted

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Agent: Andrew Palmer<img src="/images/2014/07/16/andrew-palmer-profile.jpg" alt="" style="float: right;">
Company: Knight Frank
Position: Retail investment sales executive
Office location: Sydney
How long have you been in the industry?
I’ve been in the property industry for five years. I firstly worked at a valuation firm before moving into commercial sales in the Sydney CBD and then moved into retail investment sales.
What’s happening in the area you specialise in?
The retail sales sector is extremely busy at the moment. Firstly, there has been increased activity in bulky goods and warehouse style retailing such as COSCO, IKEA, Masters and Bunnings. There has also been a large emphasis on investment into non-discretionary, retail anchored centres due to the strong long-term performance of this asset class.
There has also been significant capital investment from offshore groups, who continue to see Australia as a safe haven. Grocery retailing is also becoming increasingly competitive with new store concepts rapidly developing.
Describe the most interesting property you have sold?
80-82 Pitt Street, owned by QBE Insurance, was the most interesting property I have sold.
Originally constructed in 1940, the landmark 15 level art deco building has been the Sydney headquarters of QBE (or its predecessors) since 1946, and maintenance had  been undertaken on an, “as needs basis”. Situated in the heart of the Sydney CBD, we sold to the property to a private Hong Kong investor for $46.5 million.
What are the ingredients to being successful in your job?
I believe to be successful you need to have the drive to achieve results, persistence and passion. Being approachable and genuine is also key in an industry where trust is paramount – I’m very focused on building this trust with all my clients.
What aspects of your role do you enjoy the most?
There are two main aspects of my role which I really enjoy.
Firstly, I enjoy meeting the challenges and hurdles to achieve a successful sale through thinking outside the box to solve problems.
Also, property is my passion so being able to work on different properties all over NSW allows me to constantly learn and develop my knowledge of retail property.
Where would you invest a spare $750,000?
A small scale retail development such a child care centre.
Which football team do you support?
West Tigers in the NRL and the Waratahs in the Super Rugby
What’s your favourite app or techno gadget?
My iPhone – there’s an app for just about everything and it certainly keeps me organised!
How do you use social media?
I use <a href="https://au.linkedin.com/pub/andrew-palmer/31/655/8aa" target="_blank">LinkedIn</a> mainly to stay in touch with industry associates and clients.
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In profile: Knight Frank's retail investment sales executive, Andrew Palmer

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Mentone is one of the Melbourne's more affordable bayside suburbs. But is it a good option for investors?
Bordered by <a href="/news">Black Rock</a>, <a href="/news">Parkdale</a>, <a href="/news">Cheltenham</a> and <a href="/news">Mordialloc</a>, <a href="/news">Mentone</a> is a large suburb located in Melbourne's south-east.
In 2012, Mentone had a population of 12,458, according to the Australian Bureau of Statistics. The average monthly mortgage payment in 2011 was $2,171.
The majority of the suburb's homes are occupied by families, rather than lone occupants or house-sharers; in 2011, 64% of Mentone homes were family-occupied. Of the suburb's 3,104 families, 1,371 with children under 15 and/or dependent students. The high proportion of families in Mentone is unsurprising, given some of the key drivers of demand in the suburb. Jason C Swift, director of Hodges Real Estate Mentone, says residents are attracted to the suburb's schools. "The area boasts a number of good public and private schools including Kilbreda College, St Bede’s College, Mentone Grammar School, Mentone Girl’s Grammar School and Mentone Girl’s Secondary College – providing families with children a great reason to reside in the area," says Swift. Schools remain a key concern for many buyers, <a href="/expert-insights/buying/suburb-spotlight-does-sandringham-s-lifestyle-market-stack-up-for-investors">as in the nearby Sandringham</a>.
According to Swift, lifestyle factors and local amenities are also a key quality for the suburb.
"Mentone offers a great beach lifestyle with many leisure activities at its residents’ front doorsteps. It is home to a number of sporting associations including a lifesaving club, cricket club, football club, tennis club and lawn bowls club," says Swift.
"For shopping enthusiasts, Mentone has a number of retail strips including Como Parade West and Balcombe Road. Surrounding side streets offer restaurants, cafes, supermarkets, bakeries, home-wares and book shops, and the strip alongside the Nepean Highway is home to many large furniture retailers, car dealerships and hardware stores. Furthermore, Mentone is situated close to Southland, one of Victoria’s largest shopping malls."
{plotalot id="20"}
Float cursor over the graph to view each segment.
Located 21 kilometres from Melbourne's CBD, Mentone is still relatively well serviced by public transport and roads, Swift explains.
"Transport options for the commute from Mentone into Melbourne’s CBD are good, with both a reliable train line and easily accessible road links."
The Mentone railway station is serviced by the Frankston line and falls in Metro's Zone 2, meaning ticket prices are substantially more for Mentone residents than they are for those in Bentleigh, five stations closer to the city. A train trip into the city will take Mentone residents around 40 minutes.
 
This article continues on the next page.
<hr class="system-pagebreak">
 
According to Swift, the suburb offers a diverse mix of properties for investors.
"A wealth of choice is available when it comes to property in Mentone and a wide range of architectural styles span the area including Victorian homes, Edwardian properties, 1940s to 1970s architecture and an array of contemporary style homes," says Swift.
RP Data records the suburb's median house price for June at $1,138,800. However, it's unclear whether this is a monthly fluctuation due to a few high value home sales in the suburb - in May, the median house price was $885,000. The median unit price for June was $289,500. In May, it was $505,000.
Given the suburb's size and the variety of homes on offer, Swift says buyers should be careful about the Mentone properties they consider.
"When looking to purchase in Mentone, it pays to be wary of properties that are close to the Nepean Highway or too close to Mentone’s train line. Mentone is a large suburb with great variation in property values so prospective buyers will do well to fully research the street or area of Mentone that they are looking to purchase in," he says.
"For example there can be a notable price differentiation between properties located on either side of the Nepean Highway."
This <a href="https://www.realestate.com.au/property-house-vic-mentone-116997327" target="_blank">three bedroom home</a> on a 779 square metre plot on the beach side of the Nepean Highway sold last month for $1,170,000.
<img src="/images/2014/07/16/mentone1.jpg" alt="">
<a href="https://www.realestate.com.au/property-house-vic-mentone-116945347" target="_blank">Another three bedroom home</a> with a smaller plot (566 square metres) but a more substantial house sold for $800,000 last month. It's located on the other side of the Nepean Highway.
<img src="/images/2014/07/16/mentone2.jpg" alt="">
Swift says the suburb's bayside appeal attracts interest among buyers.
"As with many other suburbs along the bay, there is a high demand for property in the area, with an impressive average of 52 people looking at each property compared to the state average of 22 people per property," he says.
Despite the suburb's appeal to owner-occupier families, the suburb's rental market shouldn't be overlooked.
"For those looking to invest in Mentone, there is potential to realise great capital growth on properties located in the suburb," says Swift.
"Renters represent 29% of the market and are attracted by the area’s excellent transport links and schools. Rental properties typically fetch an average of $500 per week for a house and $340 per week for a unit. Both houses and units in Mentone tend to experience good capital growth, with annual price increases for homes averaging 5% and 8% on units," he explains.
"For the astute property buyer, Mentone has a significant amount to offer including a good village lifestyle, great transport links, attractive schools and beautiful beachside living," says Swift.
Feature photo courtesy of Wikimedia.
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Suburb spotlight: Mentone's family appeal

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Increasing liberalisation in the Asian insurance market is driving property investment, according to a new report from CBRE.
Historically, there have been strict regulations around insurance company investments in Asia, with limitations on real estate purchses. But CBRE's Liberalization and the Rise of Asian Insurance Investment in Real Estate report claims several Asian countries have begun to allow overseas direct investment with a greater threshold for real estate investment.
Total insurance assets in Asia outstripped the US and UK's insurance assets, according to insurance regulators in 10 Asia jurisdictions. Asia has US$6.7 trillion insurance assets, while the US has $5.8 trillion and the UK US$3 trillion. On the basis of total assets, Japan has the highest insurance market of anywhere in Asia, with US$3.3 trillion of assets. The majority region's other insurance assets are held by China, South Korea and Taiwan, with the four East Asian markets controlling around 90% of Asia's total insurance assets.
According to CBRE, Asian insurance companies generally operate under strict regulations controlling overseas real estate investment. The real estate company found that most of Asia's offshore insurance investments were in liquid assets including bonds, equities, cash and fixed income. It's estimated that only 2% of the continent's insurer's portfolios was made up of real estate at the end of 2013. CBRE claims that real estate generally makes up 4-6% of insurers' assets in "developed markets", with the US tying up 6.7% of their assets in real estate, and the UK 5.1%.
Of Asian countries, Taiwan has one of the highest proportions of real estate investment, with property the asset class making up 4.8% of their total insurance investments. The country only began allowing overseas investments for insurance companies in 2013.
CBRE expects the rapid growth of Asia's insurers and increasing deregulation will see US$75 billion entering the real estate market in between 2013 and 2018, with investment growing from US$130 billion to US$205 billion in five years. The apparent lack of appropriate investment opportunities in Asia and the ongoing liberalisation of Asia's insurance investment practices continues to result in increased offshore investment from Asia, according to CBRE.
The company reports that last year Asian insurers purchased about $2.4 billion in direct commercial real estate purchases outside the Asia Pacific region, with a strong preference for "trophy assets in gateway cities" such as London and New York. According to Ada Choi, senior director for CBRE research, the company expects the increase in real estate investment will be paralleled by total growth in the sector over the next five years.
"Looking ahead to the longer term, liberalization for insurance companies will speed up the pace of international real estate investments by Asian insurance companies," said Choi.
"We expect that further relaxation on overseas real estate investment will take place as regulators gain more confidence about overseeing such investments and insurance firms become savvier about investing globally," she said.
In particular, low yields for local prime core assets have seen Chinese and Taiwanese insurers opt for overseas property investments, with a preference for full ownership. CBRE expects Japanese insurers to continue to primarily invest in their own domestic market, while South Korean insurance companies are expected to use more indirect channels to acquire offshore assets.
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Deregulation of Asian insurers driving investment: CBRE

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In a painful lesson to get insured upon settlement, a Canberra home was left with $100,000 worth of damage after 70 teenagers turned up for a party.
<a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2014-07-09/teen-vandals-trash-home-at-kambah-during-house-part-owners/5584810" target="_blank">According to the ABC</a>, the uninhabited house was advertised as a free house party on a social media website, attracting around 70 15 to 18 year olds who smashed windows, pulled down doors and kicked in walls. Police said the owners, who were renovating the house and living elsewhere, did not know any of the teenagers and had not heard about the party invitation. They had only recently bought the <a href="/news">Tuggeranong</a> house.
Police arrived at the home just after 9pm on Tuesday, finding teenagers leaving.
The ABC reports that Sergeant Mark Roswell, Tuggeranong Station's acting officer in-charge, said the owners were "obviously quite upset and pretty devastated by the damage caused to their house".
"For any teens that were involved, I urge you to come forward and talk to us... It would be better for them to come forward than wait for police to come knock on their door,"said Roswell. He said the owners of cars on the street that night would be contacted.
"This is a rarity, it doesn't happen often in Canberra," he said.
"People do have house parties often, most people don't break into other people's houses to do so."
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$100,000 worth of damage as teenagers vandalise Canberra home

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The median price of a house in Adelaide was $420,000 for the quarter to June, according to RP Data-Rismark.
Property Observer looks at the city's recent sales to see what exactly that sum will buy you.
<ol>
<li>
<a href="https://www.realestate.com.au/property-terrace-sa-woodville+west-115717987" target="_blank">14 Smith Avenue, Woodville West</a> <img src="/images/2014/07/14/1.jpg" alt=""> This house in Adelaide's western suburbs sold for $425,000 in May. With a 782 square metre plot, the listing information stated: "Build two and live in one! Sell the other! Divide the land and sell! Rent the current home out knowing you can develop later on." The existing house is a 1950s era three bedder. 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-sa-flinders+park-116815535" target="_blank">77 Hartley Road, Flinders Park</a> <img src="/images/2014/07/14/2.jpg" alt=""> This three bedroom brick house sold for $417,000. With carpeted bedrooms and tiled living areas, the house was described as "quirky and quaint" by the listing agent, who also suggested a subdivision, given the 600 square metre plot. Price: $417,000 Bedrooms: Three Drive to CBD: 12 minutes 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-sa-marden-115839839" target="_blank">3 Glenbrook Close, Marden</a> <img src="/images/2014/07/14/3.jpg" alt=""> Sold for $423,500 in April, this Marden home has three bedrooms and one bathroom. It has floorboards throughout and a substantial backyard, with a carport. The home is located near Willow Bend Rserve along the River Torrens. Price: $423,000 Bedrooms: Three Drive to CBD: 14 minutes 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-sa-semaphore+park-117081607" target="_blank">16 Third Avenue, Semaphore Park</a> <img src="/images/2014/07/14/4.jpg" alt=""> Described as a "good candidate to be demolished" by the selling agent, this two bedroom home sold for $420,000 in June. The two bedroom, one bathroom house has, according to the agent, "been in the family for many years". Price: $420,000 Bedrooms: Two Drive to CBD: 23 minutes 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-sa-birkenhead-116866711" target="_blank">7 Mead Street, Birkenhead</a> <img src="/images/2014/07/14/5.jpg" alt=""> This 1870s era terrace near the beach sold for $425,000. The two storey home has a bay window, timber joinery, a cast iron balustrade and blue stone walls. There is a newly built extension on the house, with a tiled open plan living area and new bathroom, laundry and toilet. Price: $425,000 Bedrooms: Three Drive to CBD: 22 minutes</li>
</ol>
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What can you buy for Adelaide's median house price?

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Confidence in the property industry continues to rise in New South Wales, according to the latest results from a survey of 2,300 property and construction sector professionals.
The state’s confidence was indexed at 143 for the September quarter in the Australian Property Confidence Index, with 100 considered neutral. Around 650 New South Wales property professionals were surveyed for the Property Council/ANZ Property Industry Confidence Survey.
Property Council NSW Executive Director Glenn Byres said the property industry is a driver of the “health and vitality” of New South Wales’ economy, pointing to gains from increased stamp duty receipts shown in the recent state budget.
“The industry has retained a rosy outlook and firmly re-established NSW as the most positive state in the nation,” said Byres.
“Forecasts for increased staffing levels, forward work schedules and state economic growth are all firmly planted on the right side of the ledger.
“There are some signs that the rapid increase in residential capital values may be easing – but like all other asset classes, it remains in the positive.”
David Cannington, ANZ’s Senior Property Analyst, says the state’s economy is expected to excel, underpinned by property and infrastructure projects.
“NSW confidence has increased sharply in the past 18 months to be at the highest level across all states and territories in the September quarter, reflecting the strong cyclical upswing in Sydney’s residential property market and solid foreign capital inflows to the NSW property sector,” said Cannington.
“We expect the NSW economy to continue to outperform over the next 12-18 months, largely driven by a solid pipeline of residential and commercial construction and increased state government capital expenditure on a number of large-scale infrastructure projects.
“Despite easing in recent months, housing sales and house price gains in particular remain strong, driving the September quarter outlook for the NSW property sector higher. Moreover, commercial property capital growth expectations remain positive in all sectors, driving expectations for cap rate compression across both prime and secondary grade office property in the coming year.”
Nationally, the Australian Property Confidence Index recorded a one point drop to 131 over the September quarter.
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NSW property industry most optimistic in Australia: PCA/ANZ

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It’s grey, rainy and miserable – we’re well and truly in the depths of winter.
If you’ve run out of blankets and the second hand warmth of your laptop isn’t cutting it, fan your home fantasies with these five fireplace offerings.
<ol>
<li>
<a href="https://www.modernhouse.co/listings/reeler-house/" target="_blank">Reeler House, Turramurra, NSW</a>
<img src="/images/2014/07/11/2.JPG" alt=""> The Turramurra house designed by Ian Reeler features a stellar fireplace surrounded by a glass prism. You’ll have a perfect view of the forest as you warm yourself by the fire, all while perched on that mid-century modernist icon, the Eames lounge chair. Reeler House, built in 1985, is set over 10 floors and was named the <a href="/news/reeler-house-the-1986-home-beautiful-house-of-the-year-listed">1986 Home Beautiful Home of the Year</a>.
</li>
<li>
<a href="https://www.realestate.com.au/property-acreage+semi+rural-vic-flinders-116563603" target="_blank" style="line-height: 1.3em;">Kaloon Park, Flinders, VIC</a>
<img src="/images/2014/07/11/1.jpg" alt=""> Another fireplace with a view comes from a home on the Mornington Peninsula. After a swim in the pool, you could thaw out by the central stone fireplace, overlooking the Bass Strait. Kaloon Park has five bedrooms and three bathrooms, with three living spaces and a separate private office. The home is on the market for $3.75 million.
</li>
<li>
<a href="https://www.modernhouse.co/listings/hollander-house/" target="_blank">Hollander House, Newport, NSW</a>
<img src="/images/2014/07/11/3.JPG" alt=""> Hollander House’s fireplace and chimney is much like all its other features – perfectly integrated with the rest of the house. The hand formed ferro-cement house <a href="/news/organic-1970s-hollander-house-the-gaudi-style-home-at-newport-listed">designed by David Hollander</a> and completed in 1971 follows the contours of the surrounding land. The organic three bedroom home also comes with an impressive outdoor fireplace with a freestanding chimney, so your winter garden party won’t be smoked out. <img src="/images/2014/07/11/4.JPG" alt="">
</li>
<li>
<a href="https://www.realestate.com.au/property-house-vic-sorrento-116537271" target="_blank">3518 Point Nepean Road Sorrento, VIC</a>
<img src="/images/2014/07/11/5.jpg" alt=""> Speaking of garden parties, this huge freestanding fireplace should suffice. But if wild weather interrupts, you can always duck inside and gather around the wide sandstone fireplace. Designed by Nicholas Day, this four bedroom, three bathroom cliff-side home has a tennis court, a pool, direct beach  access and a private boat shed.
</li>
<li>
<a href="https://www.realestate.com.au/property-house-vic-caulfield+north-113363683" target="_blank">14 Ward Avenue Caulfield North, VIC</a>
<img src="/images/2014/07/11/6.jpg" alt=""> For those who prefer the suburbs to the seaside, there’s 14 Ward Avenue. The Caulfield house, decked out in enough chrome and white leather to make Patrick Bateman feel at home, extends its hard contemporary style to the fireplaces, which are far from the organic offerings above. The pebble-filled gas fireplaces, warm despite their cold appearance, are dotted all over the home – there’s even one in the bathroom.  <img src="/images/2014/07/11/7.jpg" alt=""> 
</li>
</ol>
 
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Winter warmer: Five fireplace offerings

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Capital growth is outstripping increases in rent in most capital cities, with yields falling in Sydney, Melbourne, and Brisbane despite rental growth, according to new report from Australian Property Monitors.
Despite a record high median asking rent of $510 for houses, up 2% from June last year, Sydney’s gross yield for houses dropped 4.6% in the past 12 months. A similar trend was recorded for Sydney units, with 5.3% rental growth for the year against a 5.6% decrease in yields.
Melbourne also saw a decrease in yields despite rental growth, with the median asking rent for houses increasing 5.6% in the last year to $380. The gross yield for houses in the city fell by 2.8% over the same period. While asking rents for units were up 2.8% over the 12 months to June, yields remained static.
In Brisbane, house rents are up 2.6% from last year to $400, while yields have fallen by 1.8%. However, Brisbane’s houses are still showing a higher yield than any other capital city. For units, rents increased by 2.4% over the year, with yields down by 2.8%.
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Falling yields were also recorded in Perth, which has a median asking rent of $460 for houses, and Canberra, which has a median asking rent of $450, with a 5.8% and 5.6% drop respectively. Rents  for houses fell in both those cities over the year.
Despite a 5.8% decrease in rents over the year for houses and a 7.8% fall over the quarter, Darwin recorded 1% yield growth for the year. However, the city’s gross rental yield did fall in the quarter to June by 1%. A markedly different result was recorded in the city’s unit rental market, with the median asking rent is up on a yearly basis by 5.8% but yields down by 4.6%.
{plotalot id="19"}
Adelaide’s asking rents increased by 1.5% and 1.8% over the past year for houses and units respectively. Yields for houses were up 2% for the year, while unit yields increased by 4.1% over the same period.
Hobart’s house market showed no rental growth over the past year or quarter, though the median asking rent increased by 4% for the year. Despite the median asking rent for houses remaining unchanged over the year, the city’s houses saw a 4.8% increase in yields, reflecting falling house prices. Gross unit yields were also up for the year, by 3.9%.
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Yields falling in most capital cities: APM

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Fairfax Media’s Domain Group has acquired All Homes Pty Ltd, an online property portal, for $50 million.
Allhomes, which advertises real estate in the Australian Capital Territory and nearby regional areas in New South Wales, works with around 180 real estate agencies in the area. The company was founded in 2000.
According to Fairfax, the Domain Group intends to promote both Allhomes and the national Domain brand.
Allhomes chief executive Tim White will manage both Allhomes and Domain’s Canberra operations.
“This is a really exciting time and a great opportunity for Allhomes,” said White in a statement released by Fairfax Media.
“Not only do our business objectives and values align, we will now have access to another highly skilled and motivated team, and also access to a national audience for our clients. I believe this is positive for all concerned, including most importantly for real estate agencies, consumers and staff."
Fairfax Media chief executive and managing director Greg Hywood said the company was excited about the acquisition.
“It is a great business and this acquisition demonstrates Fairfax’s commitment to invest in growing Domain nationwide,” said Hywood.
“Canberra is a strategically important market for Fairfax and Allhomes reinforces our digital position in the ACT.”
 
 
 
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Online property portal Allhomes bought by Fairfax's Domain Group

National diversified developer Fortis has officially launched Crest &amp; Walker, its latest Brisbane apartment development, with construction now underway on the 20-storey Newstead project.

Award-winning builder BINAH has commenced construction on the Bureau^Proberts-designed building, which will deliver a limited collection of 65 two and three-bedroom apartments on Kyabra Street.

[smartcode_project:default project_id=145922 project_image_fid=373556]

The project marks Fortis' fourth active residential development in Brisbane, following River House, which is nearing completion, alongside projects in New Farm and Hamilton as the national developer continues to expand its South East Queensland pipeline.

Fortis General Manager – Development Queensland Dan Boman said Crest &amp; Walker reflects the developer's long-term commitment to delivering design-led residential projects in Brisbane's established inner-city suburbs.

"We're proud to be strengthening our presence in Brisbane with Crest &amp; Walker, particularly in such a sought-after lifestyle destination as Newstead," Boman said.

"Every Fortis project is shaped by its context, and we approach each one with the respect and care it deserves.

"Our focus is always on creating places that feel connected to their neighbourhood and elevate the everyday experience for residents. Newstead continues to evolve as one of Brisbane's most sought-after urban communities, and Crest &amp; Walker reflects our ambition to contribute meaningfully to that story."

[smartcode_project:default project_id=145922 project_image_fid=373559]

Positioned between Gasworks Plaza and James Street, <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a> has been designed as a boutique residential address offering privacy and generous living spaces within one of Brisbane's most established lifestyle precincts.

The building features a contemporary brick podium softened by integrated landscaping, while the upper levels are characterised by restrained architecture and enduring materiality. Interiors have been designed to maximise natural light, acoustic performance and long-term liveability.

[smartcode_project:default project_id=145922 project_image_fid=373583]

Residences comprise spacious two and three-bedroom floorplans, with two-bedroom apartments priced from $1.55 million and three-bedroom, half-floor residences from $3.95 million.

Residents will have access to a wellness-focused rooftop featuring a swimming pool, sauna, steam room, landscaped dining spaces and outdoor lounge areas overlooking Newstead and the Brisbane CBD.

[smartcode_project:default project_id=145922 project_image_fid=373571]

Sales are being managed by Slaite Projects, with Fortis expecting strong demand from owner-occupiers seeking a high-quality, design-focused apartment in one of Brisbane's most tightly held inner-city suburbs.

Completion of Crest &amp; Walker is slated for late 2028.

[smartcode_project_cta:default project_id=145922]

Joel Robinson

Fortis expands Brisbane pipeline with launch of Crest & Walker in Newstead

The enormity of delivering a true skyscraper in Australia's new development market is often overlooked.

It has taken the best part of a decade since plans for Chevron One were first unveiled, but the 52-storey tower is now complete, with residents collecting their keys and moving into what has become one of the Gold Coast's most recognisable new landmarks.

Rising 127 metres above Chevron Island, Chevron One stands almost twice as high as any other building on the island. Its scale places it alongside the trio of towers at Jewel, arguably the last truly significant addition to the central Gold Coast skyline when they were completed around six years ago.

While there are several developments underway around a similar height to Chevron One, they are more concentrated within clusters of the highest towers in the city. The fact Chevron One sits within a developing precinct, looking back at the other high-rise developments in Surfers Paradise and Broadbeach, makes it a different proposition altogether. It will certainly become a reference point on the Gold Coast skyline.

[smartcode_project:default project_id=6515 project_image_fid=68833]

Developer Bensons Property Group is behind the 52-storey tower, which has just shy of 250 apartments, along with an exhaustive list of resident amenity spread across what is the largest development site ever assembled on Chevron Island.

The tower has been the talk of the town for years, says Ray White Projects Gold Coast agent Caitlin Rosenboom, who is selling the remaining apartments.

"People have been watching Chevron One go up for years," Rosenboom says, adding that many prospective buyers have been surprised by the scale of the views once they step inside.

"It's only when they walk through a completed apartment that they truly understand the position of the building," Rosenboom says.

"The views are jaw-dropping. Whether you're looking east over the ocean, across Surfers Paradise, along the river systems or out to the hinterland, every level offers something different but equally impressive."

[smartcode_project:default project_id=6515 project_image_fid=360215]

One of Chevron One's defining advantages is its location on the eastern side of Chevron Island on Stanhill Drive, a position which protects the views forever.

"There's only one row of houses between Chevron One and the water, and the height restrictions along the river means views from Chevron One can never be built out,"&nbsp;Rosenboom says.

While new apartment developments continue to emerge across the Gold Coast, Rosenboom says opportunities to secure a completed apartment with this level of outlook are becoming increasingly rare.

"The size of the site is something that would be incredibly difficult to replicate today," she says.

"That's allowed Chevron One to deliver the sort of amenity, open space and resident facilities that very few projects can offer. There are not many completed apartment buildings on the Gold Coast right now that can compete with the combination of scale, quality and amenity."

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There's around 2,000 sqm of amenity solely for the use of residents of Chevron One. Club One features a uniquely shaped swimming pool that mirrors the footprint of the building itself, set within a extensively landscaped gardens. There's also an indoor pool and spa, a fully equipped gym with a Pilates room, a yoga garden, a bookable private dining area and lounge that can host up to 30 people, and a 24-hour concierge service.

As for the buyers, Rosenboom is fielding enquiry from everywhere: Sydneysiders and Melburnians looking at the new and off-the-plan market following the changes in the Federal Budget, as well as those looking to relocate, through to South East Queenslanders seeking either a permanent home or a weekender bolthole.

"The Gold Coast lifestyle continues to resonate with people relocating from the southern states, and when they see the views and the quality of what's been delivered at Chevron One, it becomes very easy for them to understand the appeal," Rosenboom says.

A diverse mix of one, two and three-bedroom apartments remain available, with each offering "something a little different", be it the orientation and views, configuration, or level, to suit a wide variety of buyers.

The remaining apartments are ready to inspect in person, by appointment.

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A decade in the making: Residents to move into Chevron One as construction wraps up

A general rule of thumb in new apartment developments is that the penthouses get the rooftop.

It's a formula that's become commonplace across Australia's apartment market. Residents might have access to a pool, gym or barbecue facilities on a dedicated lower level, but the most desirable outdoor spaces are typically reserved for the highest-priced homes at the top of the building.

<a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> has taken the opposite approach.

Rather than dedicating the rooftop to a handful of buyers, the Gold Coast developer has made it the centrepiece of its Flourish collection, creating expansive shared spaces from the best vantage point in the building.

The philosophy has reached its most ambitious expression at <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> in Palm Beach, where two rooftop precincts connected by a skybridge will deliver one of the most extensive lifestyle offerings seen in a residential apartment project on the Gold Coast.

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"We're seeing a clear move toward developments that offer more than just an apartment," Sherpa Group founder Christie Leet said.

"People want spaces that support how they actually live, whether that's working from home, staying active, or spending time with family and friends.

"That's where amenity becomes critical. It's not just about what's included, but how those spaces are designed to be used every day."

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The breadth of amenity has already attracted buyers across multiple demographics. Younger first home buyers have been drawn to Soleira's one-bedroom apartments, a product rarely delivered in Palm Beach, while families have responded to practical inclusions such as the shallow children's pool adjoining the main lap pool and the extensive communal recreation areas.

Instead of a single rooftop, Soleira delivers two distinct lifestyle zones.

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The southern rooftop has been dedicated to wellness, featuring a gym, yoga and Pilates studio, work-from-home facilities, a wellness centre, spa, and hot and cold plunge pools.

The northern rooftop focuses on recreation and entertaining, incorporating a heated resort-style pool, private dining rooms, pizza ovens, barbecues, a golf simulator, children's recreation areas, and what is expected to be the Gold Coast's first rooftop basketball court, which will also double as a squash court.

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Beyond the rooftops, Soleira will introduce 1,500 sqm of curated retail beneath the towers, creating one of Palm Beach's first genuinely mixed-use lifestyle precincts where cafés, restaurants and convenience retail become part of residents' everyday lives.

Sherpa has also retained management rights across the development, allowing it to oversee the long-term operation of the building through a 24-hour concierge model. The developer is also exploring additional revenue streams within the precinct aimed at helping offset ongoing body corporate costs for residents.

[smartcode_project:default project_id=150017 project_image_fid=370962]

While Soleira is the largest project Sherpa has delivered, the rooftop-first philosophy has been evolving for several years.

It began with <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>, the first project released under the Flourish brand. Rather than competing at the ultra-luxury end of the market with oversized half-floor and full-floor residences, Sherpa focused on creating lifestyle-driven apartments supported by resort-style shared spaces.

Amargo introduced more than 800 sqm of rooftop amenity, combining wellness facilities, heated pools, entertaining areas, cabanas, pizza ovens and private dining spaces into what was designed as an extension of residents' homes rather than a facility used only occasionally.

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That approach continued with Flourish Oasis, where the same amenity-led philosophy was refined into a more boutique development. Strong demand from Sherpa's growing VIP database saw much of the project sold before it reached the broader market, reinforcing buyer appetite for apartment communities centred around shared lifestyle experiences.

Flourish Amargo is slated for completion mid-way-through next year, with Oasis to be delivered by late 2027. Flourish Soleira is expected to complete in 2030.

[smartcode_project_cta:default project_id=150017]

Sherpa takes amenity to the sky as Flourish Soleira captures booming Palm Beach demand

As apartment living continues to evolve across Sydney's growth corridors, the quality and distribution of shared spaces is increasingly shaping how residents experience home. Rather than functioning as add-ons, amenities are being embedded into the daily rhythm of a building, supporting everything from quiet retreat to social interaction, often within a single vertical community.

At <a href="https://www.apartments.com.au/new-apartments/aeris-melrose-park-nursery-street-melrose-park-nsw-2114">Aeris</a> in Melrose Park, this approach is resolved through a layered amenity offering that unfolds from ground level through to its upper podium. Developed by <a href="https://www.apartments.com.au/developers/sekisui-house-australia">Sekisui House Australia</a> in partnership with Hankyu Hanshin Properties, the project introduces 468 apartments across two towers and a mid-rise building, positioned at the highest point of the broader masterplan.

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The amenity experience begins at street level, where two courtyards sit within a landscaped setting that connects residents to the wider network of parks and green spaces. These green spaces are not isolated pockets but part of a wider pedestrian network that links Aeris to the surrounding <a href="https://www.apartments.com.au/developments/melrose-park-nsw-2114">Melrose Park</a> precinct, including Central Park, future schools, and the Town Centre opening in July 2026. The result is a transition that moves from public to private without abrupt boundaries, allowing residents to pass through shaded, tree-lined environments before reaching the building itself.

Moving upward, the focus shifts to the level five podium, where the primary communal facilities are concentrated. This space brings together a 16-metre swimming pool, outdoor seating areas, and a communal BBQ zone arranged to take advantage of elevated outlooks. Seating is positioned beneath pergolas, creating pockets of shade that extend the usability of the space throughout the day. The pool edge aligns with views toward the wider district, reinforcing the sense of elevation that defines the project’s positioning.

In the adjacent building, this is complemented by quieter, more contemplative spaces, including an outdoor cinema set within the same level. Positioned to operate primarily in the evening, it introduces a different tempo to the shared environment, shifting from daytime activity to after-hours use without requiring separate zones.

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The podium also accommodates an intimate private resident gym. Located on the lower levels, it gives residents convenient access to fitness facilities without leaving the building.

Above, the elevated podium sky deck extends the amenity offering, providing additional open-air spaces with elevated outlooks across the surrounding landscape. While more restrained in program, this upper level reinforces the project’s vertical progression, from ground-level greenery to elevated outlook, allowing residents to move between distinct spatial conditions within a single address.

This distribution of amenities reflects a deliberate response to how residents use space across the day. Sekisui House Australia Sales and Marketing Director Peter Kalaf points to the role these shared areas play in shaping buyer demand. Aeris has been conceived as more than a collection of apartments, with the podium pool, gym and outdoor cinema forming part of a broader lifestyle offering that extends the home beyond each individual residence.

[smartcode_project:default project_id=426 project_image_fid=360300]

What distinguishes Aeris is not the inclusion of these elements individually, but how they are arranged in relation to one another. Active, social, and passive spaces are layered vertically rather than separated, allowing residents to choose between them without leaving the building or moving far from their apartment. This proximity supports both routine use, such as a morning swim or evening workout, and more occasional gatherings, whether around the BBQ area or within the cinema setting.

The amenity design also sits within a broader framework of connectivity across Melrose Park. The Melrose Park Town Centre, anchored by Coles and Dan Murphys, features a mix of retail, dining, health and lifestyle offerings, bringing everyday convenience closer to residents. By the end of the year, more than five hectares of parks and open space, equivalent to around seven football fields of green space on residents' doorstep, will further enhance the precinct, allowing the internal facilities at Aeris to operate as an extension of the wider neighbourhood rather than a substitute for it.

Construction at Aeris continues to gather momentum, with ground floor slabs expected to be completed in late 2026 before the first sections of the buildings begin to rise above ground.

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Elevated amenity anchors daily life at Aeris, Melrose Park

Repeat buyers are one of the strongest measures of confidence in any apartment development.

At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.

Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/FH_1EzB-1vs?si=XScVlP1ERsTDJoME" title="YouTube video player" width="560"></iframe>

"I had some boxes I wanted to tick," he says.

Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.

“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.

He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.

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After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.

"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."

Today, Keith says the move has completely changed how he experiences Newcastle.

"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."

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Beyond the location, he says it's the sense of community that has surprised him most.

"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."

For Aimee and Lyle Goodman, the journey started almost by chance.

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The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.

"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."

As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.

"We actually catch up more as a family now," Aimee says.

"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."

[smartcode_project:default project_id=135096 project_image_fid=356829]

Lyle says their confidence came from GWH's reputation within Newcastle's building industry.

"I know people who've worked across different apartment projects, and whenever GWH came up the feedback was always the same. They're rock solid. They're quality."

That confidence only grew throughout the buying process.

"One of the things that really impressed us with GWH was the whole process, was the communication," Lyle says. "It was consistent, it was regular, there was no problem if we had some weird questions, there was no problems in getting answers."

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Aimee says one moment stood out.

"The project actually finished on time. We realised we needed to hurry up and sell our house because everything was happening exactly when they said it would."

The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.

Their confidence reflects what many buyers are seeking in today's apartment market. Location remains important, but so too does certainty around delivery, quality and long-term liveability.

[smartcode_project:default project_id=135096 project_image_fid=356822]

ERA builds on those foundations with 280 one, two and three-bedroom apartments across two landmark towers in <a href="https://www.apartments.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a>.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/fk-australia">Fender Katsalidis</a>, the project will include more than 2,000 square metres of resident amenities, including a resort-style pool, gym, sauna, private cinema and rooftop entertaining spaces overlooking the harbour and coastline.&nbsp;

The development is also within walking distance of the Newcastle Interchange, Honeysuckle, Darby Street, the harbour foreshore, restaurants, retail and the city’s beaches, continuing the walkable lifestyle that existing GWH buyers say has transformed how they live.

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For Keith, the appeal remains straightforward.

"You feel at home even before you've moved into your home."

For Aimee, the change is measured in time.

“I just felt like I had more time,” she says.

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Construction at ERA is now underway, with more than half of the residences already sold and limited two and three-bedroom apartments remaining in the East Tower release. Priced from $980,000 for two-bedroom residences and $1.46 million for three-bedroom residences, buyers can secure an apartment with a 10 per cent deposit, with premium homes offering ocean views from Level 8 and harbour views from Level 10.

ERA is also backed by Resilience Insurance's 10-year Latent Defects Insurance policy, providing protection against structural or waterproofing defects for 10 years after completion. The project is anticipated to be completed in early 2028.

[smartcode_project_cta:default project_id=135096]

Jessie Richardson

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