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A Village Cinema building in Geelong and another in Albury have been listed for sale with expectations of $14 million each.
The 11 screen cinema offering at 194-204 Ryrie Street in Geelong is the refurbished art deco Geelong Theatre, operating as Village Cinemas. 
It is being marketed by CBRE’s Justin Clarkson and Jamus Campbell with the Albury Village Cinemas, a large scale cinema and retail complex at 450-460 Dean Street. The Albury building (pictured above) was originally constructed in 1926.
Clarkson noted the stable investment opportunity presented by both properties.
“With long term leases attached, these two assets provide an attractive opportunity to acquire secure income streams underpinned by profitable businesses in two established and growing regional cities,” said Clarkson.
“These iconic buildings also benefit from a central location in the heart of their respective retail and commercial centres.”
Clarkson expects that strong yields and rental growth will drive demand for the buildings. Currently the Albury property is returning $1,374,829 per annum in rental income, setting rental yield at 9%. The Geelong cinema brings in $1,214,981 each year, with a yield about 8.5%.
“Both leases have generous annual built-in rental growth provisions throughout their respective terms, providing an annual additional uplift in returns,” Clarkson said.
The properties are being offered for sale separately or together via an expressions of interest campaign until 8 May.
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jrichardson-uRX5hFdKfN

Double pass: Two Village Cinemas hit the market

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After months of watching the four teams of The Block: Fans v Faves battle it out to produce the best apartment, viewers will tomorrow night finally get to see which property beats the rest.
Closure will come a little earlier for the contestants themselves, with the Albert Park apartments going up for auction at 5pm tonight. While there will be plenty of spectators, Property Observer guesses that self-represented buyers won’t be the major bidders of tonight’s auction.
The big players are likely to be the usual suspects of Melbourne’s buyers’ agent scene. Frank Valentic of Advantage Property Consulting will be there; the buyers’ agent has been <a href="https://twitter.com/FrankValentic" target="_blank">busy on Twitter</a>, posting pictures of himself and his kids with contestant Dale and host Scott Cam on his tour of the apartments. 
Viewers may remember Frank from last year’s The Block: Sky High, where he bid on all five apartments, successfully securing the final apartment renovated by Matt and Kim for a single woman from Glen Iris.
As for which team will win, the final result will be anyone’s guess.
KYAL AND KARA
<blockquote>
Kyal and Kara's- First impressions count, and this might not cut it. 
</blockquote>
While Kyal and Kara’s apartment at <a href="https://www.realestateview.com.au/Real-Estate/2-47-o-grady-street-albert-park/Property-Details-buy-residential-6831567?gclid=CMW7svjcz70CFUchpQodXVkA9Q" target="_blank">2/47 O’Grady Street</a> (pictured below) has the best upstairs terrace by far, with high quality finishings, their living area feels the smallest of all the four apartments. While we noted <a href="/expert-insights/the-block-on-show-at-this-weekends-open-for-inspection">after the open for inspection</a> that this wasn’t such a bad thing, first impressions do count with buyers – and two storeys up is a long way to travel for the eventual return.
<img src="/images/2014/04/08/2%2047%20albert%20park%20april%208%20one.jpg" alt="">
ALISA AND LYSANDRA
<blockquote>
Alisa and Lysandra's- Light-filled but perhaps not one for emotional buyers.
</blockquote>
The twins’ <a href="https://www.realestate.com.au/property-apartment-vic-albert+park-116350463" target="_blank">apartment at 3/47</a> (pictured below) makes itself known immediately upon entering, with its huge light filled kitchen. However, the void is compensating for the apartment’s south-west aspect, and eats up space from the bedrooms. While the finishings in their apartment are high quality, the bedroom spaces in particular do feel quite cold, which may turn off emotional buyers.
<img src="/images/2014/04/08/1.jpg" alt="">
STEVE AND CHANTELLE
<blockquote>
Steve and Chantelle's- Despite teething problems, there's value to be had. 
</blockquote>
While Steve and Chantelle’s struggles were well documented on-screen, in reality <a href="https://www.domain.com.au/property/for-sale/apartment-unit-flat/vic/albert-park/?adid=2011049155" target="_blank">their apartment</a> (pictured below) has a great northerly aspect and is well planned. While some of the furnishings and styling choices may read a little tacky, a smart buyer with value in mind will disregard the superficial details of 1/47 and recognise its underlying value.
<img src="/images/2014/04/08/15.jpg" alt="">
BRAD AND DALE
<blockquote>
Brad and Dale's- Leaves a strong impression and is a strong contender.
</blockquote>
Brad and Dale’s <a href="https://www.realestateview.com.au/Real-Estate/4-47-o-grady-street-albert-park/Property-Details-buy-residential-6799205" target="_blank">apartment at 4/47</a> (pictured below) is clean, bright, and makes a strong impression. In particular, its living room and kitchen area feels expansive, with high ceilings and bright décor. The boys have been smart to accentuate the size of their kitchen and living areas and their master bedroom. 
<img src="/images/2014/04/08/3.jpg" alt="">
At Property Observer, our money is on Brad and Dale, on the strength of their living and kitchen spaces and terrace views, with Steve and Chantelle's bright apartment coming in second.
Before tomorrow's finale, brush up on The Block with our highlights from the season:
<a href="/expert-insights/buying/kyal-demmrich-on-the-trials-and-triumphs-of-the-block">Kyal Demmrich on the trials and triumphs of The Block</a>
<a href="/expert-insights/the-block-on-show-at-this-weekends-open-for-inspection">The Block on show at this weekend's open for inspection </a>
Open for inspection: The Block Fans v Faves doors open to the public this weekend
<a href="/news/raw-timber-and-red-brick-industrial-design-on-the-block">Raw timber and red brick: Industrial design on The Block</a>
<a href="/news/art-styles-for-apartment-d-cor-lessons-from-the-block">Art styles for apartment décor: Lessons from The Block</a>
<a href="/news/creating-the-perfect-new-york-style-loft-lessons-from-the-block">Creating the perfect New York style loft: Lessons from The Block</a>
<a href="/news/vic/five-renovation-lessons-from-last-nights-the-block-fans-v-faves">Five renovation lessons from last night's The Block: Fans v Faves</a>
 
 
 
 
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On the auction Block: Our faves for the finale

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SQM Research has recorded flat asking prices and rising stock levels across the country for the first quarter of 2014.
According to the research firm’s latest figures, the capital city average house asking price fell 1.6% over the March quarter, while unit prices stayed flat. Sydney asking prices for houses dipped by the same 1.6%, with units rising by just 0.2%, a result that may surprise some given the bullish outlook many commentators had for the city at the beginning of the year.
Adelaide was the quarter’s strongest capital city market, with house asking prices increasing by 0.9% and units climbing by 3.5%.
SQM Research managing director Louis Christopher noted that SQM’s findings for the quarter differ from those provided by RPData.
“This is all in contrast to the very bullish findings from the RP Data daily index, which among other things, reported a very sharp rise in Melbourne dwelling prices of 5% for the quarter and now has Sydney up over 15% for the year,” said Christopher.
“While that index may be meeting our forecasts this year of 15-20% rises for Sydney, SQM Research continues to remain dubious of it and strongly recommends for you to follow the ABS and APM versions of house price sold data, which will be reporting early next month based on a lot more sold data for the quarter gone by.”
The firm also reports a rise in stock on market for March, with a 1.8% increase over the month to 352,369 dwellings.
However, the national stock level was down 5.2% on a year-to-year basis, with Sydney’s stock on market down 17% from March 2013.
Darwin recorded the highest jump in stock on market from the previous year, with listed dwellings rising 12.8% from 1,221 in March 2013 to 1,335 last month. SQM Research noted that stock on market levels are particularly vulnerable to seasonal influence, making monthly fluctuations a less useful indicator of market conditions than year on year analysis.
The research company expects a fall in listings over the Easter holiday period.
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Asking prices flat for March quarter: SQM Research

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A former construction project manager has pleaded not guilty to a charge of fraud in the Gladstone District Court. Bruce Alfred Little, of Clinton, has been accused of using $30,000 of his former employer’s resources to carry out home improvements at his property.
The Gladstone Observer reports that Little faces fraud charges relating to a series of offences that allegedly took place between July 2006 and March 2010.
Crown Prosecutor Melissa Wilson told the court on Wednesday that Little, a former employee of engineering group Monadelphous, used surplus money from projects he managed for the company to make personal home improvements.
According to the Gladstone Observer, these included works on Little’s pool and outdoor decking areas. Wilson alleges that Little attributed the costs to a project Monadelphous was carrying out for Queensland Alumina Limited at the time. She also told the court that Little made use of company equipment and the time of other Monadelphous employees to carry out works at his home.
On Thursday, Adrian Bubb, one of Little’s former co-workers at Monadelphous, claimed to the court that he had no knowledge of Little’s alleged illegal activity. However, he did admit that he had seen labour costs transferred from less-profitable projects to more-profitable jobs at Monadelphous in the past.
The trial continues tomorrow.
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Gladstone man facing court over allegations he misused company funds for home renovation

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While owner occupiers tend to have their insurance policies cut out for them (protect your home, yourself, and your stuff), landlords don’t have it quite so easy.

How much protection are you obliged to provide for your tenants? And how do you protect yourself?

Your exposure to risk as a landlord comes from two sources: potential damage to your property and assets, and damage to your tenants. Thankfully, standard building and contents insurance and landlord’s insurance will cover you should either of those situations eventuate.

Most landlord insurance policies will cover damage made by people external to your property. So if your rental property is vandalised by strangers, your landlord policy will most likely cover the repairs. But if your tenant or their guest takes a texta to the walls, the bond is your best bet. If you feel your bond doesn't provide enough cover, some insurers also provide extra tenant protection on top of your landlord insurance, which can cover malicious damage by your tenants or their guests, theft, or the loss of rental income if your tenants default on your rent.

[smartcode_project:default project_id=9190]

In general, your lease agreement will override your insurance policy. Most basic landlord insurance policies state that the insurer will not cover fixtures and fittings that the tenant is responsible for as part of your tenancy agreement. If you are considering landlord insurance, make sure you go through your prospective policy agreement with one eye on your lease.

Some landlord insurance policies will also reimburse you for lost rental income should your property become uninhabitable due to accidental damage.

The health and wellbeing of your tenants is your other main concern as a landlord. As the owner of a leased property, you may be legally liable for accidents that happen within that site. While your legal liability cover will differ depending on your policy and provider, in effect it works like public liability insurance.

If someone is injured in your property and successfully sues you, your standard landlord’s insurance will provide $10 million worth of cover to help you pay for this. While $10 million may seem like a staggering number, consider the potential costs for disability support your tenant may have to pay if they are permanently injured on your property. Bear in mind, landlord insurance will usually not cover the costs of any legal proceedings themselves. 

[smartcode_project:default project_id=27575]

What protection your landlord insurance policy should offer:

<ul>
<li>Damage from animals to the interior of your property, not including your tenants' pets or vermin and pests</li>
	<li>The effects of natural disasters or fire</li>
	<li>Sudden and unexpected impacts, like falling trees or cars colliding with your property. Note, this normally won't cover any damage that happens as a result of contracted works.</li>
	<li>Vandalism and theft by someone who didn't have the consent of you or your tenants to enter the property</li>
	<li>Your legal liability for claims arising from accidents onsite which result in bodily harm or death of someone on the property, not including you or your family.</li>
	<li>Your legal liability for claims where your tenants' or their guests' property was damaged in the rental</li>
</ul>
Before you decide to become a landlord, make sure you are adequately covered. Australia has a competitive insurance market, with plenty providing landlord coverage, so take the time to shop around for comprehensive and cost-effective policy. If you aren't sure what level of coverage is best for you, your property manager can give you some guidance.

 
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What insurance policy do I need as a landlord?

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RE/MAX Western Australia’s managing director Geoff Baldwin has spoken out against potential changes to current stamp duty dispensations for first home buyers, saying that if the relief was decreased or abolished there would be dire effects across the market.
 “The negative affect the ceasing of stamp duty relief for first home buyers would be extremely damaging however, when this segment of the market stagnates it ripples up through all price ranges and the effect would be crippling”, said Baldwin.
“If you take a line through New South Wales and Victoria where subsidies have been abolished, first home buyer activity has dropped to 8% and 12% respectively, compared to the current 22% in Western Australia (RP Data).
“Historically, in a healthy market, first home buyers account for around 25 to 30% of all buyers.
“The established home market has already taken a massive hit through the government’s recent actions in changing the First Home Owner Grant whereby those building new homes receive $7,000 and people buying established only $3,000.
“To abolish first home owner stamp duty concessions would be extremely short sighted as it will a negative impact the whole market and hence the Industry, just at a time where we are again experiencing some prosperity in the property sector.”
 
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Rumoured cuts to stamp duty relief for first home buyers would be “extremely damaging”: RE/MAX

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With Sydney’s median price now sitting at around $720,000 according to RPData's latest weekly report, Property Observer takes a look at just what you can buy for that price around the world.
RE/MAX Global now offers a search function which allows buyers to search for international properties based on how much they would like to spend.
“Australians don’t only buy in Australia, and New Zealanders don’t only buy in New Zealand,” he said, “and for our property sellers, this search tool is a tremendous feature in attracting buyers from around the world to their properties," said RE/MAX Australia and RE/MAX New Zealand managing director Michael Davoren.
Century21 offers a similar service on <a href="https://www.century21global.com/" target="_blank">its website</a>.
So what exactly can you buy for $720,000?
<ul>
<li>
<a href="https://global.remax.com/368128_3116" target="_blank">Nanaimo, British Columbia, Canada</a>: A$686,423
</li>
</ul>
<img src="/images/2014/04/04/british%20columbia%20aprtil%204%20one.jpg" alt="">
This four bedroom, three bathroom house (pictured above) in the waterfront city of Nanaimo is set on about 2 acres of land. The huge front windows give the home mountain views, and the home also comes with a hot tub and a pool of substantial size.  
<ul>
<li>
<a href="https://global.remax.com/Villa-For-Sale-Mojacar-Almeria_27531003-111" target="_blank">Mojácar, Andalucia, Spain</a>: A$699,031.
</li>
</ul>
<img src="/images/2014/04/04/spain%20april%204%20one.jpg" alt="">
If you think it might be a little too chilly on Vancouver Island to go for a swim, why not purchase this villa with a pool in Spain? Another four bedroom, three bathroom house, this one (pictured above) set up on a hill has spectacular views over the Alboran Sea.
<ul>
<li>
<a href="https://global.remax.com/Condo-Apartment-For-Sale-Breckenridge-Colorado_1008225005-22" target="_blank">Breckenridge, Colorado, USA</a>: A$692,617.74
</li>
</ul>
<img src="/images/2014/04/04/colorado-april-4.jpg" alt="">
Photo courtesy of the Summit Association of Realtors
This condo on Breckenridge’s Main Street has two bedrooms and three bathrooms, with views over the resort town (pictured above). After a long day of skiing, buyers can keep warm in front of the fireplace at their resort penthouse.
<ul>
<li>
<a href="https://global.remax.com/Multi-Family-For-Sale-Rochester-New-York_1020091034-168" target="_blank">Rochester, New York, USA</a>: A$16,125
</li>
</ul>
<img src="/images/2014/04/04/L_abd16e4d008f4989bd33e1c7d3a0ebd5_iList%201.jpg" width="460" height="345">
At the substantially lower end of the market, this 1920 home in Rochester is selling for what one assumes is substantially lower than its purchase price. Its sale is subject to bank approval of the short sale. For Sydney's median price, you could buy this home 44 times over.
<ul>
<li>
<a href="https://www.century21global.com/property/7004-evergreen-way-buford-ga-30518-usa-C21102185177-USD" target="_blank">Burfood, Georgia, USA</a>: A$10,824
</li>
</ul>
<img src="/images/2014/04/04/cn23g0tqrevh4petbky75vvan3i.jpg" width="460" height="345">
Similarly, the three bedroom, three bathroom mobile home pictured above was purchased for almost US$90,000 when new. Priced for a quick sale at about $10,000, you could buy 72 of these homes for the same price as one median house in Sydney.
<ul>
<li>
<a href="https://global.remax.com/Detached-Bungalow-For-Sale-Monopoli_23341001-334" target="_blank">Monopoli, Bari, Italy</a>: A$699,031
</li>
</ul>
<img src="/images/2014/04/04/bari-april-4-one.jpg" alt="">
This two bedroom, two bathroom single level home (pictured above) was built in 1900. With views of the Adriatic Sea, it’s set in the historic port city of Monopoli. And, of course, it comes with a pool.
<ul>
<li>
<a href="https://www.realestate.com.au/property-house-nsw-newtown-116610955" target="_blank">Newtown, Sydney</a>: A$700-750,000
</li>
</ul>
<img src="/images/2014/04/04/main.jpg" width="460" height="345">
Back home, the two bedroom, one bathroom home pictured above is listed with a price guide of $700-750,000. 
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What will Sydney’s median price get you around the world?

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An independent depreciation assessment of the four apartments up for auction next week has identified significant potential deductions for The Block’s buyers.
BMT Tax Depreciation has undertaken a depreciation assessment on each of the <a href="/news">Albert Park</a> apartments completed on this season of The Block and found that each offers major deduction opportunities, with potential first year deductions of about $50,000.
According to BMT Tax Depreciation managing director Bradley Beer, the renovated properties could be underlying goldmines for buyers. 
"An investor purchaser could claim a minimum of $46,281 and a maximum of $53,995 as an average first year depreciation deduction for one of the four properties," said Beer.
Beer says that despite legislation allowing all owners of income producing property to claim depreciation deductions for the wear and tear of their property and its contained assets, 80% of property investors fail to take full advantage of their depreciation deduction entitlements.
"Investors who don't claim depreciation are missing out on thousands of dollars in their pockets," said Beer.
BMT Tax Depreciation also prepared depreciation reports for the 2012 and 2013 Block properties.
The four apartments on O’Grady Street in Albert Park will be auctioned on Tuesday April 8, with the results airing on Channel 9 on Wednesday April 9.
 
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Hidden depreciation opportunity for The Block: Fans v Faves properties

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The building that housed the seventh season of The Block has won the Jury and Peer Voted awards in the Residential Mid Rise category of the Architizer A+ awards.
Designed by Australian architecture firm Brenchley Architects, the building at 142 Park Street in South Melbourne is a conversion from a 1960s motel building. Brenchley Architects pursued a high level of environmental sustainability, with a “second skin” of black aluminium and batten and vertical gardens buffering the existing walls from fluctuating environmental conditions and stabilising the building’s internal temperature.
The building also features a communal rooftop terrace area and solar energy panelling.
The five apartments sold on The Block: Sky High gathered $7.603 million on auction day collectively, with Adelaide sisters and The Block: Fans v Faves team Alisa and Lysandra selling the winning apartment.
Architizer described the building as a “prime example of the ‘adaptive re-use’ of existing, low grade building stock into high-end environmentally sustainable development.”
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The Block: Sky High building wins international architecture awards

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Iconic billionaire property developer Harry Triguboff has said that apartment prices will tumble and rentals will rise if demand from Chinese developers drops off.
The man known by some as High Rise Harry told The Australian that he anticipates a 10-15% price drop in some areas if Chinese buyers were to stop purchasing Australian properties. He also said that the subsequent halt in new developments would also cause rental rates to rise.
"If production (of units) dropped, the impact would be a huge rise in rents," he told The Australian. Triguboff attributed residential prices to poor national planning systems.
According to the publication, about 70% of Triguboff’s apartments are sold to offshore buyers and Australians of Asian descent. However, Triguboff told Bloomberg earlier this year that his company does not market properties to mainland China and has no intentions to begin doing so. 
"They come to me," Triguboff told Bloomberg in February. "Today, we’re part of the Chinese market, more than 10,000 apartments is nothing," he said, referring to Meriton's construction capacity.
Triguboff established the Meriton Group in 1963 at just 30 years old. According to Triguboff, the business is now worth $6.1 billion. The apartment developer is mostly active in Sydney and South East Queensland, and also owns or manages about 3,000 apartments in addition to its construction and development activities.
According to BRW's 2013 Rich 200 list, he is Australia's eighth richest person, with a net wealth of $5.5 billion. Triguboff was born in China and moved to Australia in 1948. 
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Prices will fall if Chinese buyers withdraw, warns Harry Triguboff

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 

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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.
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Jessie Richardson

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