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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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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."
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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.
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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%.
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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

<a href="https://www.apartments.com.au/developments/broadbeach-qld-4218">Broadbeach</a> offers plenty of reasons to live vertically, but moving from a substantial family home into an apartment can expose the compromises of high-density living. Privacy, room for guests and usable living space tend to matter more when an apartment is intended as a permanent home rather than an occasional coastal base.

A typical residential floor at <a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a>, on Surf Parade,&nbsp;contains just four apartments. The 94-residence development by <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> is predominantly made up of expansive three-bedroom homes, with a limited collection of half-floor penthouses above.

Across the apartment floors, <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has used the relatively limited number of residences to give each home greater access to natural light and outlook. Living spaces extend towards full-height glazing, while a series of bay windows frame selected views across the Pacific Ocean, city and hinterland rather than treating the building edge as a continuous wall of glass.

&nbsp;

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“The apartment floors deliver a collection of homes that embrace controlled outlook via a series of bay windows deliberately framing moments of view,” Rothelowman Director Kim Lowman said.

From outside, those projecting forms contribute to the tower’s faceted profile. Strong horizontal and vertical elements establish its proportions, while the changing position of the sun alters the light, shadow and reflection across the façade throughout the day.

The same attention moves inside the apartments, where the material palette combines warm timber, natural stone, metallic detailing and softer curved forms. Kitchens sit within the main living zone, with stone island benches, integrated joinery and European appliances, before the living areas extend towards the glazing and the outlook.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360981]

Three genuine bedrooms provide room to accommodate family and guests, while two secure car spaces and storage address some of the practical considerations that can become more noticeable when moving from a larger home. Feedback from the display suite has centred on the warmth and restraint of the interiors, with buyers commenting that the residences feel like homes rather than conventional coastal apartments.

A limited collection of half-floor penthouses occupies the upper levels, increasing the scale of the living spaces and adding private balconies and elevated finishes. From this position, the outlook extends between the ocean and hinterland.

Outside the private residences, The Eveleigh separates its shared spaces between the podium and rooftop. The podium is centred on wellness, with subtropical landscaping surrounding a swimming pool and pool terrace, yoga garden, private gymnasium, sauna and hot and cold plunge facilities. Landscaped retreats and pavilions provide additional places to sit away from the main recreation areas.

&nbsp;

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Higher in the building, a rooftop pavilion and private dining suite sit alongside resident lounge, barbecue and outdoor dining areas, opening towards panoramic views across the ocean, city and hinterland.

“Buyers are no longer just looking for an apartment, but a lifestyle where they can relax, reset, and enjoy a balanced way of living,” Hirsch &amp; Faigen Director of Sales Matt George said.

Interest to date has come from established owner-occupiers and interstate lifestyle purchasers, including buyers planning a future move to the Gold Coast. Many are coming from larger homes and want to reduce ongoing maintenance without giving up space for family and guests, privacy, two car spaces or the ability to entertain at home.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360969]

Much of that daily life can also take place beyond the building without requiring a drive. Kurrawa Beach and Pratten Park are an easy walk from Surf Parade, while Pacific Fair, Oracle Boulevard, The Oasis, restaurants, cafés, entertainment and public transport are also within walking distance.

The Eveleigh is Hirsch &amp; Faigen's fourth Gold Coast development since entering the market in 2021, following The Hemingway at Palm Beach, The Emerson at Kirra and Yves at Mermaid Beach. Each of the preceding projects sold out before completion.

“Broadbeach had been on our radar throughout our time operating on the Gold Coast,” the developer said. “Following our projects in Palm Beach, Kirra and Mermaid Beach, Broadbeach represented the natural next step for the business.”

The Surf Parade site brought together proximity to the beach, protected coastal outlooks and walkability to dining, shopping and recreation. Hirsch &amp; Faigen also identified the street as an emerging premium residential address, with enough separation from Broadbeach's busier destinations to retain a quieter environment at home.

The Eveleigh is now under construction by Maxcon, with completion forecast for mid-2028. Three-bedroom residences are currently available from $2.87 million.

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Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

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

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

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

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

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

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

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