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Canberra developer Terry Shaw’s buying syndicate has paid $63.75 million for five plots in <a href="/news/act/act-government-to-sell-campbell-section-5-development-site">the Campbell development</a>.
The Australian Financial Review reports that Shaw intends to begin marketing apartments at the Campbell master-planned development in early 2015. The inner-city sites have been approved for residential, retail and commercial uses. Masterplans for a boutique hotel on the sites have also been approved.
Shaw, reportedly backed by Asian investors, purchased the sites from the ACT government’s Land Development Agency at auction. He told The Australian Financial Review that 500 apartments could potentially be delivered at the site over the next four to seven years, and he intends to start marketing apartments early next year. The Campbell development plots, with a total land area of 6.4 hectares, have a reported potential end value of $300 million.
The sites range from 2095 square metres to 7020 square metres. A $15 million sum was reportedly paid for the largest site, with capacity for 205 residences. The buying syndicate purchased a 5719 square metre, 103 dwelling capacity plot for $13.5 million and paid a further $14.5 million for a 4257 square metre site with capacity for 110 dwellings. The 5719 square metre and 4257 square metre site both have approval for hotel development.
The smallest two sites purchased have the capacity for 110 dwellings in total and were purchased by the consortium for $9.75 million and $11 million each.
The total $67.5 million sum paid by Shaw’s SHL Developments at Wednesday’s auction was well over initial expectations of $40 million to $45 million. The Australian Financial Review reports that around 200 people attended the auction, with 29 registered bidders. 
Shaw is also the managing director of the Englobo Group, a property developer that has completed more than $1 billion worth of residential projects.
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jrichardson-uRX5hFdKfN

All five Campbell, ACT sites purchased by Terry Shaw’s consortium

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ME Bank cut the its one year Standard Home Loan rate by 0.05% and its five year Standard Home Loan rate by 0.4%.
The bank’s one year Standard Home Loan now has a 4.89% per annum interest rate, with a comparison rate of 5.35% per annum. The five year fixed Standard Home Loan rate is now at 5.39% per annum, with a comparison rate of 5.40%.
According to ME Bank, it currently offers the lowest three year and five year fixed home loan rates on the market. Chief executive Jamie McPhee said that the cost of fixed rate funding has been falling amidst persisting “global economic weaknesses” and growing expectations for fiscal tightening after the budget.
“Fixed rate funding costs are falling as the market pushes out expectations for future RBA rate movements. ME Bank has taken advantage of these falls and is passing on the savings to customers,” he said. He also noted the economy’s ongoing transition away from the mining sector and “below average” domestic economic performance.
McPhee warned customers not to be swayed by cash-back incentives offered by some banks.
“Cash back sweeteners can be nice in the short-term, but customers should understand they can save much more on their home loan in the long-term by locking in a lower rate," said McPhee.
For more interest rate coverage, see:
<a href="/expert-insights/finance/moderation-in-pace-of-house-prices-lately-despite-significant-yearly-growth-glenn-stevens-june-statement">Moderation in pace of house prices lately, despite significant yearly growth: Glenn Stevens' June statement</a>
<a href="/expert-insights/finance/thanks-to-low-interest-rates-affordability-at-highest-level-for-over-a-decade-hia-cba-index">Thanks to low interest rates, affordability at highest level for over a decade: HIA-CBA index</a>
 
 
 
 
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ME Bank cuts rates for one and five year fixed Standard Home Loans

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Median prices rose overall over the March quarter, according to the Real Estate Institute of Australia (REIA) and the Bendigo Bank’s quarterly review.
The weighted average capital city median price rose by 1.9% for houses and 1.7% for other dwellings, including units and apartments. According to the REIA and Bendigo Bank’s figures, the weighted average median price for houses in Australia’s capital cities is now $606,517.
The price growth was much less acute than that seen in the first quarter of last year, where the weighted average median price for houses increased by 13.1%.
For the year to March 2014, Median house prices rose across all capital cities but Brisbane and Perth. Hobart saw the biggest price rise, with its median house price up 4.1%. It maintained the lowest median house price across the capitals at $385,000. Brisbane’s median  house price dropped 1.1% over the quarter; Perth’s dropped by 1.6%.
Sydney’s median house price remains the highest among all eight capitals at $782,973, up 3.1% for the quarter. Melbourne’s median house price rose by 3.7% over the same period to $652,500.
Non-house dwellings like apartments and units in the capital cities sat at a median price of $483,320.  Darwin saw an 18.0% increase in the median price of its non-house residences for the quarter to $525,000. Sydney and Melbourne’s median non-house residence prices also increased in the same period. Median prices for similar properties were down for the quarter in Canberra, Adelaide, Hobart and Perth.
Median rents for two bedroom units and other non-house residences increased in Sydney, Melbourne and Brisbane over the quarter to March, while they decreased in Perth and Darwin. Rental rates for Adelaide, Hobart and Canberra remained static. However, the median rent for a “two bedroom other dwelling” in Canberra was down by 6.8% from the same time last year. 
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Residential prices up overall in March quarter: REIA

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Investors should seek an independent second opinion when investing their super savings in property, according to the Real Estate Buyer’s Agents Association of Australia (REBAA).
The industry body’s president Jacque Parker urges investors to question advisors offering inflated property values and guaranteed rents.
“The real estate industry has always attracted its fair share of ‘shonky’ selling agents and it’s disappointing to hear advisors accepting kickbacks from developers under the guise of “financial advice” and taking advantage of innocent investors,” says Parker.
REBAA’s warning comes amid reported claims of advisors receiving higher than standard commission payments for recommending off the plan residential apartments as self-managed super fund investments.
Earlier this year, property commentator <a href="/expert-insights/investing/exclusive-how-to-spot-a-dodgy-operator-tips-from-the-experts">Neil Jenman told Property Observer</a> that "property spruikers are getting commissions ranging up to $50,000 per property".
Parker advocates engaging an accredited buyer’s agent for a second opinion on property investments. Buyer’s agents do not sell real estate but specialise in finding, evaluating and negotiating property purchases on the behalf of buyers.
 “The old saying ‘if it sounds too good to be true, then it probably is’ certainly applies here,” said Parker.
“If you are an investor who is considering investing your superannuation in property, then we would highly recommend you get an independent second opinion from a buyer’s agent.
“Independent buyer’s agents do not sell real estate or accept any kickbacks from other sources for doing so.
“If they do and they don’t disclose this to the buyer then they are contravening Section 47 of the Agents Act.”
Parker claims that using a buyer’s agent can save investors thousands of dollars.
 
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Don’t be lured in by “one stop shop” SMSF advisors: REBAA

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An Auckland couple have washed their hands of the rental market after attempting to lease out a fully furnished flat with a toilet in the kitchen. 
Unfortunately, this is <a href="/news/nsw/a-toilet-in-the-kitchen-a-strange-unit-layout">the second kitchen-toilet hybrid Property Observer has seen this year</a>.
The studio apartment in Auckland's Forrest Hill has a combined bathroom, laundry and kitchen.
<a href="https://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&amp;objectid=11268470" target="_blank">The New Zealand Herald </a>reports that the rental was advertised on Trade Me, an online classifieds site, through Ray White (picture from the advertisement above). Agent Serena White told The New Zealand Herald that although she inspected the property before advertising it, she hadn’t noticed the bathroom bungle. She later asked the landlord to set up a partition.
"I shouldn't have done the advertisement first, I should have done the advertisement after," she said.
"We talked to the landlord, we can't list this kind of property. Some clients reported it wasn't legal."
The landlords, Anthony Wong and Anita Leung, agreed.
"I don't want to rent the room because we can't do the kitchen in the bathroom,” Leung told The New Zealand Herald. "It’s illegal."
The listing was reportedly pulled after prospective renters complained about the layout. It seems that even the inclusion of utilities in the rent wasn’t enough to lure toilet-shy tenants.
Earlier this year, a <a href="/news/nsw/a-toilet-in-the-kitchen-a-strange-unit-layout">Darlinghurst art-deco apartment</a> with a less than flattering view from the stove was listed for rent (pictured below).
<img src="/images/2014/06/11/darlinghurst_0002_3.jpg.jpg" alt="">
In defence of Darlinghurst, at least its toilet had a floor-to-ceiling glass door, which might provide the cook from noxious fumes and germs (if not an eyeful).
Not so for Auckland’s novoviral paradise, where the portable stove and toaster are set within full spray of the toilet. According to The New Zealand Herald, New Zealand building codes require that there is at least one door between the kitchen and the toilet. 
Thankfully, Wong and Leung say they haven’t rented the flat out before.
Feature photo source: Trade Me via The New Zealand Herald.
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Toilet in the kitchen, number two

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A freestanding IGA supermarket has secured a seven figure sum after it was purchased by a Chinese investor.
The buyer put their faith in the numbers, paying $3,398,888 for the Boondall supermarket. The number eight is associated with prosperity in Chinese culture. The transaction reflected a yield of 8.1%.
Set on a 3,434 square metre site at 2138 Sandgate Road, the 790 square metre supermarket was developed by Hardev Property two years ago. It was sold by in an off-market transaction by Michael Harcourt and Jon Tyson of Savills Retail Sales.
Luck aside, Harcourt said the high profile main road location was a key factor for the buyer.
“IGA Boondall is underpinned by a 10-year lease with a further three five-year options and also features convenient on grade parking for approximately 51 vehicles,” said Harcourt.
According to Tyson, the property combined a number of highly sought after characteristics in the convenience retail market.
“It boasts a prominent left-hand location to capture outbound traffic out of Brisbane and a core non-discretionary offering of grocery and fresh food items,” said Tyson.
“Having opened its doors just two years ago, the Boondall IGA Supermarket is now well established and supported in the local community. As Savills originally secured IGA as the tenant, it is rewarding to have now closed the loop on the property with a strong sales result for both vendor and buyer,” he said.
 
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Chinese investor pays lucky sum for Brisbane IGA

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A 37 year old Manhattan resident has converted his apartment into a gamer’s paradise.
Chris Kooluris told <a href="https://www.nydailynews.com/life-style/turned-apartment-arcade-article-1.1816727" target="_blank">The New York Daily News</a> that he decided to indulge his nostalgia after reading Ernest Cline’s Ready Player One, a novel about 1980s gamer culture. He’s spent US $26,000 on his interiors renovation, including a number of vintage arcade games and a leather fold out bed (complete with Teenage Mutant Ninja Turtles bed linen).
The senior vice president of a global public relations firm, Kooluris reportedly custom built a four-player arcade console, where he can play thousands of games, including Street Fighter II. Thousands of dollars have gone towards first-edition Transformers action figures.
But it seems that nurturing Kooluris’ inner child has come at a loss – he told The New York Daily News that in the process of building his arcade, his fiancée left him.
In truth, it seems that Kooluris’ extreme renovation makeover was inspired by more than just a book. After moving in with his fiancée, his apartment failed to sell and he reportedly began feeling uncomfortable in his new surroundings.
"This is the extreme reaction of someone who isn't surrounded by his own stuff," he told The New York Daily News. But while Koolouris and his friends reportedly love his arcade-apartment hybrid, it seems that Koolouris might have taken a tiger uppercut to the heart.
"Now that my fiancée and I are no longer together, it's hard to enjoy the room as much as I want to," he explained to The New York Daily News.  "I always end up thinking about her."
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Fantasy renovation: Manhattan gamer turns his apartment into a video game arcade

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A 1960s era modernist home in Melbourne’s eastern hills will go to auction this weekend.
The single storey home at <a href="https://www.realestate.com.au/property-house-vic-croydon+north-116962735" target="_blank">90 Richardson Street in Croydon North</a> bears all the hallmarks of 60s era design, with sprawling open plan entertaining areas and a full-length sun terrace. Set on a leafy 1,480 square metre block, the house has views to Mount Macedon and over the Yarra Valley.
Owners Rob Hauser and Ruth Barr are selling the home through PhilipWebb. General manager of sales Anthony Webb describes the home as a contemporary classic.
“Although the home was designed in the 1960s, the qualities of modernist architecture that it features have never been more relevant,” says Webb.
“Modernist homes such as this are all about function and form. This home offers a seamless integration between the indoor and outdoor spaces, and with floor to ceiling sliding doors and windows throughout, it harnesses natural elements such as the sun and the breeze,” he says.
{qtube vid:=OL_GiAA7pQ8}
The house was designed by Australian architect Charles Duncan, a proponent of organic Wrightian architecture, inspired by the work of Frank Lloyd Wright. The home’s floor to ceiling windows and sliding doors are a classic characteristic of Wrightian architecture, unifying the landscape with the interior. There is also timber flooring, ceilings and timber panelled walls with exposed brick columns throughout.
Duncan was one of a number of young Melbourne architects who designed Wrightian style homes in the 1960s, including David Godsell, David Chancellor and Rex Patrick, Geoffrey Woodfall and Kevin Knight. Their Sydney counterparts included Adrian Snodgrass, who built the 1960s Point Piper home that was later sold to <a href="/news/jon-aisbitt-almost-drops-off-latest-sunday-times-richest-1000-list">former Goldman Sachs Australia boss Jon Aisbitt</a>.
In 1965, Duncan was awarded the Royal Australian Institute of Architect’s Single House award for the Williams House in Heidelberg.
The Croydon North home was built by Melbourne builders Fasham Johnson. It was not the last collaboration between Duncan and Fasham Johnson - Duncan designed two low energy display homes in Mills Parks and Taylors Lake in the 1980s that were constructed by Fasham Johnson.
The Duncan designed home is set to be auctioned on Saturday 14 June.
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Charles Duncan modernist home to go under the hammer

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Melbourne saw the biggest price drop for houses of any capital city last month, according to RP Data.
RP Data-Rismark’s Home Value Index recorded a 3.6% drop in house values in May. The median price of houses in Melbourne based on settled sales over the quarter to May now sits at $612,000.
Property Observer looks at recent sales in Melbourne to see just what that price will get you.
<ol>
<li>
<a href="https://www.realestate.com.au/property-house-vic-flemington-116056671" target="_blank">282 Pin Oak Crescent, Flemington</a>
<img src="/images/2014/06/10/flemington-june-10-one.jpg" alt=""> This two bedroom Victorian weatherboard sold for $600,000. Marketed as a “renovators delight”, it was sold at executors auction through Geoff Green and Adam Hicks of Geoff Green Real Estate. The <a href="/news">Flemington</a> home is within walking distance of a train station, trams, cafes and restaurants and the Newmarket Village shops.
Price: $600,000 Bedrooms: Two Drive to CBD: 16 minutes
</li>
<li>
14 St Andrews Close, Croydon 
<img src="/images/2014/06/10/2.jpg" alt=""> A four bedroom, three bathroom <a href="/news">Croydon</a> home sold for $608,000 last month. Set on a 1,092 square metre plot, this sprawling family home is essentially a duplex, with two dwellings under the same roof. At one end of the home there are three bedrooms, two bathrooms, a kitchen, two large living spaces and a separate dining space. The other home, which has separate meters and access has a bedroom, one bathroom, a kitchen and dining area.
Price: $608,000 Bedrooms: Four Drive to CBD: 43 minutes
</li>
<li>
<a href="https://www.realestate.com.au/property-house-vic-reservoir-116465303" target="_blank">9 Tambo Avenue, Reservoir</a> <img src="/images/2014/06/10/3.jpg" alt=""> This home is located in the northern suburb of <a href="/news">Reservoir</a>, roughly 12 kilometres from the Melbourne CBD. The three bedroom, one bathroom home has a formal living room, a separate formal dining room and a central kitchen. Sitting on a 730 square metre lot, the new owners could potentially redevelop on the land as the neighbours have done.
Price:$620,000 Bedrooms: Three Drive to CBD: 34 minutes
</li>
<li>
<a href="https://www.realestate.com.au/property-house-vic-seddon-116323435" target="_blank">17 Scott Street, Seddon</a> 
<img src="/images/2014/06/10/4.jpg" alt=""> This two bedroom home clad in Tasmanian Red Gum was sold for $615,000 earlier this year. The <a href="/news">Seddon</a> house was marketed as an “Eco-home” by selling agent Bretty Ayles of Village Real Estate, with exterior double insulation, a “thermal chimney for heat escape”, double glazed windows, solar panels and a first flush cleaning system for water capture. 
Price: $615,000 Bedrooms: Two Drive to CBD: 20 minutes
</li>
<li>
<a href="https://www.realestate.com.au/property-house-vic-ringwood-116772519" target="_blank">41 Barkly Street, Ringwood </a>
<img src="/images/2014/06/10/5.jpg" alt=""> Another two bedroom weatherboard home, this house in <a href="/news">Ringwood</a> sold for $610,000. The home has an open living and dining area, a renovated kitchen and sunroom, with polished timber floorboards throughout. Outside, there is a carport and covered verandah. 41 Barkly Street is within walking distance of Heatherdale and Ringwood Station.
Price: $610,000 Bedrooms: Two Drive to CBD: 32 minutes
</li>
</ol>
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What does a house at Melbourne’s median price look like?

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One day, you might have the car collection of your dreams. But where will you put them all?
Last weekend an Adelaide home was <a href="/news/springfields-17-car-garage-trophy-mansion-sells-for-1-million-less">sold for $3.26 million at auction</a>. The house has five bedrooms, but more importantly, a 17 car garage. The expansive parking space comes with a home theatre, leading reported former owner George Nowak to say that the garage had “a Bat Cave style”.
After a Bat Cave of your own? Here are some of the most impressive garages in Australia (and the homes attached aren’t too bad either).
<img src="/images/2014/06/06/1x.jpg" alt="">
The 20 car garage pictured above sits below <a href="https://www.realestate.com.au/property-house-qld-sovereign+islands-115142531" target="_blank">a six bedroom, five bathroom home</a> in the beachside suburb of Sovereign Islands, at the northern end of the Gold Coast. The owner is clearly quite the motoring enthusiast, with another professional auto shop on the ground level with a hoist (pictured below).
<img src="/images/2014/06/06/1y.jpg" alt="">
This garage and its contemporary style home will set you back $4.95 million.
<img src="/images/2014/06/06/2.jpg" alt="">
A three storey estate in Castle Cove on Sydney’s North Shore could put Wayne Manor to shame. The house sits on a 10,000 square metre waterfront plot, pictured above. Inside there’s plenty of room for Alfred, with three professional gourmet kitchens, ten bedrooms and thirteen bathrooms. The all important garage fits six cars, with another 10 car port spaces.
For those who need a dose of opulence as soon as they come in from work, look no further than <a href="/news/ridong-billionaire-riyu-li-buys-bellagio-la-villa-the-gold-coast-hinterland-mansion">Bellagio La Villa in the Gold Coast hinterland</a> (pictured below).
<img src="/images/2014/06/06/3x.jpg" alt="">
Soon to be home to billionaire Riyu Li, the garage (pictured below) features what look to be polished marble floors, arched windows and chandeliers for its possible periodic usage as a ballroom. Considering the merits of this particular garage, Property Observer’s Jonathan Chancellor thought the chandeliers were <a href="/expert-insights/investing/chandeliers-hanging-in-the-garage-he-said-she-said">“wasteful and unnecessary</a>".
<img src="/images/2014/06/06/3.jpg" alt="">
“Even the late Liberace, who was the king of gaudy over-the-top interior décor, didn’t hang crystal confections in the garage of his cheap Palm Springs home,” he wrote. Contrarian Margie disagreed, writing that they were “frivolous and fun”.
<a href="https://www.realestate.com.au/property-house-nsw-terrey+hills-116005227" target="_blank">Angoraphora Lodge</a> in the Northern Sydney suburb of Terrey Hills was apparently inspired by the alpine lodges of Aspen. Set on 16,500 square metres of land, the home has six bedrooms and four bathrooms. There’s a separate two bedroom home on the estate which also houses two garages, fitting 10 cars (pictured below). Agent Shane Hutton of Ray White Terrey Hills writes that one of the garages “could easily accommodate a helicopter.”
<img src="/images/2014/06/06/4.jpg" alt="">
And what about the car enthusiasts who have somewhat less expansive collections?
Look no further than <a href="https://www.realestate.com.au/property-house-sa-glen+osmond-116849155" target="_blank">73 Sunnyside Road in Glen Osmond, South Australia</a>, pictured below.
<img src="/images/2014/06/06/5x.jpg" alt="">
The current owner says that when designing her home, “it was all about the car”.
<img src="/images/2014/06/06/5.jpg" alt="">
The motoring enthusiast, who has owned 160 cars, was given a special place for her vintage Porsche – right in the middle of her home. She’s expecting $890,000 to $950,000 for this floating apartment, designed by Damian Campagnaro.
 
For more automative intrigue, see <a href="/expert-insights/buying/deceptive-toorak-auction-aftermath-and-the-silver-mercedes-that-almost-got-away">Deceptive Toorak auction aftermath - and the silver Mercedes that almost got away</a>
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20 cars and counting: The best Bat Caves on the market

Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

Joel Robinson

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

<main data-perf-region="main">
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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Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

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

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

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

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

Jessie Richardson

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