<html><body>
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.
</body></html>

jrichardson-uRX5hFdKfN

Putting on The Ritz: Geelong eyesore relisted

<html><body>
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.
</body></html>

In profile: Knight Frank's retail investment sales executive, Andrew Palmer

<html><body>
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.
</body></html>

Suburb spotlight: Mentone's family appeal

<html><body>
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.
</body></html>

Deregulation of Asian insurers driving investment: CBRE

<html><body>
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."
</body></html>

$100,000 worth of damage as teenagers vandalise Canberra home

<html><body>
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>
</body></html>

What can you buy for Adelaide's median house price?

<html><body>
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.
</body></html>

NSW property industry most optimistic in Australia: PCA/ANZ

<html><body>
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>
 
</body></html>

Winter warmer: Five fireplace offerings

<html><body>
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%.
{plotalot id="18"}
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%.
</body></html>

Yields falling in most capital cities: APM

<html><body>
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.”
 
 
 
</body></html>

Online property portal Allhomes bought by Fairfax's Domain Group

The residential transformation of St Kilda Road is set to continue into with more new apartment plans for the sought-after boulevard.

Wing Tai Asia has lodged plans for a major residential tower at 464-466 St Kilda Road, replacing the former VACC House with an 18-storey mixed-use development designed around a retained heritage podium and a sculpted contemporary tower.

The proposal, prepared under Victoria’s Significant Residential Development with Affordable Housing pathway, would deliver 325 apartments and ground-floor retail across the prominent 4,653 sqm boulevard site in Melbourne’s St Kilda Road North Precinct.

The project centres on the adaptive reuse of the site’s heritage-listed VACC Building, an eight-storey office designed by Bernard Evans that has occupied the address for decades. Planning documents state the development would involve “carefully dismantling and conserving off-site the original metal fabric of the podium visible from St Kilda Road,” before reinstating it as the defining frontage of the new scheme.

Above the restored podium, Wing Tai is proposing a curvilinear residential tower. The scheme includes 172 one-bedroom apartments, 63 two-bedroom apartments, 66 three-bedroom apartments, and 24 four-bedroom apartments, alongside two ground-floor food and beverage tenancies fronting St Kilda Road.

The tower has been designed with substantial articulation and variable setbacks to minimise perceived bulk and maintain view corridors along the boulevard. Urbis, which prepared the planning report, said the design “has been significantly articulated through a curvilinear design” with “an interplay with materials, façade expression and depth” to create visual separation and visual interest.

The proposal also includes 254 basement car spaces, landscaped pedestrian links connecting St Kilda Road and Queens Lane, and a biophilic landscape strategy featuring canopy trees, raised planters, cascading greenery and a glass oculus pool overlooking the eastern frontage.

Planning documents confirm the $270.1 million development will contribute 3 per cent of project costs to the Social Housing Growth Fund as part of the application process.

Wing Tai acquired the St Kilda Road property in 2018 alongside Abacus Property Group for $95.38 million, before later consolidating ownership of the site. The property previously served as the Victorian Automobile Chamber of Commerce headquarters for around 60 years.

The transformation of the St Kilda Rd boulevard is already beginning to materialise, with a number of high-profile projects recently completed, launched, or approaching launch as developers continue to back the long-term appeal of the precinct.

Among the most notable recent completions is Louise by Samuel Property Group, just off the strip on Queens Lane, the same pocket Hirsch &amp; Faigen recently launched The Queensbury. Mirvac is too on the same street with The Albertine, which is approaching completion.

Dexus recently secured approval for its slice of St Kilda Road, while Gurner also has approved plans for the precinct.

Joel Robinson

Wing Tai unveils 325-apartment St Kilda Road tower on former VACC House site

Malaysian developer <a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> is the latest to jump into St Leonards booming Transport Oriented Development precinct.

The developer, which has previously delivered Sapphire by the Gardens apartment development in Melbourne, identified the Atchison Street site in 2023. It filed a Scoping Report around 12 months ago, and now has revealed the designs for the new&nbsp;40-storey mixed-use tower.

The State Significant Development Application covers <a href="https://next-portal.urban.com.au/projects/14650/summary">20-22 Atchison Street</a>, a 1,374 sqm site positioned between St Leonards Station and the new Crows Nest Metro station.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the project would deliver 181 apartments, above a four-storey commercial podium, five basement levels, and new public domain works along Mitchell Street. The apartment mix comprises 35 one-bedroom apartments, 39 one-bedroom-plus-study apartments, 85 two-bedroom apartments, and 22 three-bedroom residences.

The proposal has been lodged as a shop-top housing development under the NSW Government’s TOD planning pathway, which allows increased density around key transport infrastructure. The site sits within the recently rezoned Crows Nest Accelerated TOD Precinct.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b799673d-48e2-46b0-801a-0e33a9330100" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20site.png?VersionId=dPh0UfwfaHpbFL1R7H1cbZNbIW0CHbCC" />

SP Setia acquired the Atchison Street site as part of its continued expansion into the Australian apartment market. In comments made to City &amp; Country (The Edge Malaysia) in 2023, SP Setia President and CEO Datuk Choong Kai Wai described the acquisition as “a strategic move” aligned with the group’s post-pandemic market recovery strategy.

“Our target for this exceptional development is local and overseas buyers, including first-home buyers, downsizers and investors,” Choong said.

The tower has been designed as a slender vertical form rising from a mixed-use podium, with COX Architecture positioning the development as a response to the evolving St Leonards and Crows Nest skyline.

“The purpose of the project is to facilitate the delivery of high-quality housing at a strategically located site and deliver a built tower outcome that is consistent with the desired future character of St Leonards and aligns with the TOD controls,” the design report stated.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b1a85eee-76f7-436c-a6da-73ba827b9b13" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20entry.png?VersionId=dA9jHGPMcm.dDbwk4QfxqWiY5bfh3UVt" />

The podium would incorporate retail uses fronting Atchison Street, commercial tenancies, landscaped communal areas, and pedestrian improvements along Mitchell Street. Vehicle access and loading would be consolidated via Atchison Lane.

Residents would have access to more than 665 sqm of communal indoor and outdoor spaces, while the development proposes 96 parking spaces across five basement levels.

The proposal also includes a commitment for 10 per cent of residential floor space to be allocated toward affordable housing through a monetary contribution.

COX said the tower form responds directly to the emerging high-density character of the precinct while seeking to maximise solar access, cross ventilation, and outlook from apartments.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="2163f85c-f63b-4be3-aafa-f8763976cec5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_5.png?VersionId=WiAmtIKJ6.ZQ41EtYEQ1fol7AeorKBlL" />

“The building is orientated towards north,” the Apartment Design Guide compliance report noted, adding that the tower’s slim form was driven by the constrained inner-urban site dimensions.

The design also incorporates landscaped setbacks and communal open space at podium level, intended to soften the interface with surrounding streets and improve pedestrian amenity.

The project adds to a growing wave of redevelopment proposals reshaping St Leonards and Crows Nest following the opening of the Sydney Metro City line and the NSW Government’s push for higher-density housing around major transport nodes.

Last week Stockland filed plans just down the road. They want to build a <a href="https://www.apartments.com.au/new-apartments/601-pacific-highway-st-leonards-nsw-2065">52-storey tower on Pacific Highway</a>.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">First look: Stockland plans 52-storey, 538-apartment St Leonards tower&nbsp;</a>

First look: SP Setia targets St Leonards skyline with 40-storey TOD tower

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has revealed plans for a new mixed-use tower at 10 Dangar Street, Wickham, advancing a proposal that would reshape the southern gateway to Newcastle’s city centre with one of the city’s tallest residential buildings.

The State Significant Development proposal, now on exhibition, seeks approval for a <a href="https://www.apartments.com.au/new-apartments/bowline-10-dangar-street-wickham-nsw-2293">43-storey tower</a> immediately adjacent to the Newcastle Interchange. The project would deliver around 200 apartments, including 42 affordable housing dwellings, alongside 99 co-living units, a 171-room hotel, retail space, and new public domain integrated through the site.

The scheme marks a significant escalation of plans previously approved for the site. Urban Property Group took over the prominent 2,904 sqm parcel, where excavation and demolition had already commenced under an earlier consent for a 14-storey mixed-use development.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="58a96dd9-407f-4d20-86b4-94e4bfeef74b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20podium.png?VersionId=LGlf08pdFGAZDzvx_CXC4XakHNZRuEE0" />

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, the tower has been conceived as a landmark transit-oriented development anchored to the Newcastle Interchange precinct. The proposal includes 245 build-to-sell apartments across a mix of one, two, and three-bedroom residences, as well as two penthouses. Fifteen apartments and one operational unit are earmarked for NDIS housing. The co-living component would add a further 99 units, while the podium would accommodate retail uses and hotel facilities.

SJB said the site presents “a valuable opportunity to anchor the precinct by setting the standard for design, active ground planes and character at the key southern gateway.”

The architecture responds directly to the site’s position beside major transport infrastructure and within one of Newcastle’s fastest-evolving urban renewal precincts. The tower form sits above a sculpted podium designed to frame new public spaces, including a through-site pedestrian link connecting Station Street to Hannell Street, landscaped plazas, and activated retail edges.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="a7bd6ff0-f7db-4ce8-a6dc-ea56e72c6149" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20lanne.png?VersionId=xzf39VADyhj7zBQY2I9fx9vI62u2tuSb" />

The design report describes the project as part of the broader transition of Wickham into “a vibrant, high-quality mixed-use urban precinct” that leverages proximity to the station, open space, and regional connectivity.

A detailed public art strategy has also been prepared for the development. The strategy positions the project as “a transit-oriented development of state significance at the gateway to Newcastle’s city centre” and outlines a series of integrated artworks responding to Newcastle’s industrial and transport heritage.

Creative Road’s curatorial framework for the project, titled Unveil, draws on “stratified surfaces, carved volumes, and light-filled apertures” while referencing Newcastle’s transformation from an industrial city into a contemporary education and technology hub.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="77a882bb-14b1-4d28-99ff-9438e39508c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20site.png?VersionId=cevgo_vN0eKPK78P8YcEu3mKPLkpFqE7" />

The proposal is being advanced through the NSW Housing Delivery Authority pathway after being declared State Significant Development in June 2025. The accompanying scoping report states the development aims to “maximise the site’s proximity to the Newcastle Interchange by delivering transit-oriented development” while increasing housing supply and affordable housing provision within the Newcastle LGA.

Urban Property Group’s plans align with the long-term strategic vision established under the Wickham Master Plan, which identified the interchange precinct as suitable for substantial uplift in height and density. The current proposal would significantly intensify that vision, positioning the tower among the tallest developments proposed for Newcastle.

The site sits immediately north of the Newcastle Interchange, bounded by Dangar Street, Hannell Street, and Charles Street. It is surrounded by a rapidly growing cluster of residential towers and mixed-use projects that have emerged following the completion of the light rail and transport interchange.

First look: Urban Property Group unveils Newcastle’s latest tower at Wickham interchange

Bottega House has completed settlement of a landmark riverfront site in Macquarie Street, St Lucia, representing its first major Brisbane development.&nbsp;

Positioned on the banks of the Brisbane River, the <a href="https://www.apartments.com.au/new-apartments/180-macquarie-street-st-lucia-qld-4067">premium site at 180 Macquarie Street</a> features uninterrupted river frontage in one of Brisbane’s most tightly held residential precincts.&nbsp;

The proposed development, currently under assessment with Brisbane City Council, has been designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and will deliver a boutique collection of premium residences positioned specifically for owner occupiers and downsizers.&nbsp;

The residences are set to redefine luxury apartment living in the area, with a focus on architectural quality, refined finishes, landscape integration and elevated amenities including curated wellness facilities, resort-style pools and recreation spaces rarely seen in the local market.&nbsp;

Exclusive sales for the project will be led by Keenan &amp; Byrne, ahead of an anticipated launch later this year.&nbsp;

Bottega House Managing Director Nick Malloch said the project reflects the group’s ambition to deliver a highly curated residential offering within one of Brisbane’s most tightly held precincts.&nbsp;

“This is an incredibly rare riverfront opportunity and one we have approached with a long-term perspective,” Malloch said.&nbsp;

“Our vision from the outset was to create a boutique collection of residences that feel more like private homes than traditional apartments, with generous proportions, refined finishes and exceptional amenity throughout."

Malloch says there is a&nbsp;lack of premium owner-occupier stock of this quality in the market, particularly for downsizers wanting space, privacy and a true lifestyle offering without compromise.&nbsp;

"Demand is expected to be strong given the scarcity of premium riverfront opportunities of this nature within Brisbane’s inner-west."&nbsp;

Bottega House secures landmark riverfront site in St Lucia 

<section data-scroll-anchor="false" data-testid="conversation-turn-6" data-turn="assistant" data-turn-id="request-WEB:84a2af5e-d7cf-4ddf-922a-f4d44d6c6caa-2" data-turn-id-container="request-WEB:84a2af5e-d7cf-4ddf-922a-f4d44d6c6caa-2" dir="auto">
<section data-scroll-anchor="false" data-testid="conversation-turn-2" data-turn="assistant" data-turn-id="request-WEB:5a5ab36c-8dd3-454c-b456-c501f22f0eb4-0" data-turn-id-container="request-WEB:5a5ab36c-8dd3-454c-b456-c501f22f0eb4-0" dir="auto">
The arrival of the first piling rig officially marks the commencement of construction at SIERA’s new beachside apartment development, Exhale, in Northcliffe.

<a href="https://www.apartments.com.au/new-apartments/exhale-surfers-paradise-8-enderley-avenue-surfers-paradise-qld-4217">Exhale</a>, a glass-encased tower featuring 54 large-scale apartments at 8 Enderley Avenue, is SIERA’s third Gold Coast development. It follows the recently completed PIPIS Bilinga beachfront project, which achieved suburb-record prices, and the soon-to-be-completed Chevron Island development, Tapestry.

[smartcode_project:default project_id=112661 project_image_fid=359603]

<a href="https://www.apartments.com.au/developers/siera">SIERA</a> Founder and Managing Director Brent Thompson said the arrival of the piling rig represented a significant milestone for the development, which is scheduled for completion in late 2028.

Over the next month, around 260 piles are expected to be installed as work progresses on the basement structure. The building is anticipated to rise above ground level early next year, before unveiling its sculptural glass curtain wall, developed in collaboration with specialist façade engineers.

“The façade was designed to maximise panoramic coastal views while creating a distinctive architectural identity,” Thompson said.

[smartcode_project:default project_id=112661 project_image_fid=355935]

Designed by BDA Architecture, Exhale will comprise just 54 two- and three-bedroom residences across 26 levels, a level of low-density living rarely delivered in this beachside pocket between Surfers Paradise and Broadbeach.

The project has been conceived as a resident-only building, with no short-stay accommodation permitted. SIERA says the model is intended to appeal to long-term owner-occupiers rather than transient holiday demand.

[smartcode_project:default project_id=112661 project_image_fid=361052]

Residences have been designed with large-format layouts and expansive glazing, with most apartments featuring more than 30 metres of glass frontage to maximise natural light and ocean views.

The amenity offering spans two levels and centres on wellness and lifestyle, including a heated magnesium pool, sauna, yoga and Pilates studio, gymnasium, private dining facilities, cinema lounge, and dedicated surfcraft storage.

[smartcode_project:default project_id=112661 project_image_fid=359607]

More than half of the apartments have already sold. SIERA has also opened a sales gallery for Exhale at its Chevron Island commercial premises, near its Tapestry tower and the site of its second Chevron Island apartment development, which is slated to launch in early 2027.
</section>
</section>

[smartcode_project_cta:default project_id=112661]

Jessie Richardson

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News