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John McGrath invested $40,000 in a childcare centre for children living with disabilities or special needs on Channel 10's Shark Tank this week.
The McGrath estate agents founder secured a 12.5% stake of Hummingbirds, as did tech entrepreneur Steve Baxter when the pair decided to split the offered 25% stake.
The two "Sharks" chose to invest after hearing the story of Rebecca Glover and Leah James, businesswomen and mothers of children with disabilities.
Their business, Hummingbirds, offers care, early intervention and support for young children of all abilities, including those with motor development delays. They founded the business after finding traditional childcare facilities unsuitable for their own children, who live with disabilities.
Currently, they offer just four places for children, but said on the show there was a waiting list of 35. Hummingbirds' care is offered at $120 per day, with government assistance and Medicare rebates reducing the out of pocket cost to about $35 per day.
Glover and James are hoping to expand the business to accommodate 21 children, with two carers carers available at all times for each room of seven children.
As they presented their business model on Shark Tank, the potential investors queried the businesswomen about their plans to upscale the business, wondering whether they were willing to take on the extra commitment of expanding Hummingbirds. The entrepreneurs assured the panel that they one day hoped to become a national business.
James said to the panel: "We're driven with heart and passion but we're smart women. We're very capable of this. But we have so many desperate, desperate mothers and fathers out there."
Their pitch was enough to convince Baxter, founder of SE Net, who has no experience in childcare. He later wrote in BRW: 
"If you told me a year ago that I would be investing in the childcare industry, I'd have laughed you out the door. However, when Leah James and Rebecca Glover entered the Shark Tank, they came not just with a moving personal story about what they've done to ensure a better future for their children, and other children effected by disabilities. They came with a sharp, well-thought and viable business proposition ... As I said in Shark Tank, Hummingbirds was a deal too important not to be done."
McGrath, who was visibly moved by the pair's story, said he had a friend who worked in the childcare industry.
McGrath's $40,000 investment isn't his first on the show – he has also committed money to Salsa Rudo Hot Sauces, paying $80,000 for a 45% stake in the business. And while not investing in teenager Daniel Baise's interactive computer screen GTouch, he did, with Baxter, help support the teenager's trip to a trade show in Las Vegas.
McGrath famously did very poorly in his HSC results before moving into the real estate business as a letting agent. At 20, he moved to real estate sales and later founded his own agency. McGrath Estate Agents now has 62 offices along Australia's east coast and sold over $12 billion in residential property in the last year.
McGrath has also been a director on the board of REA Group since 2001.
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jrichardson-uRX5hFdKfN

John McGrath puts down $40,000 for childcare centre on Shark Tank

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A house in the Trillium Estate will be auctioned off for this year's Royal Children's Hospital Good Friday Appeal.
The Sahara Belle Q1 house by Henley Properties will be sold with all proceeds going <a href="https://www.gfacharityhouse.com.au/#charity-auction" target="_blank">towards the appeal</a>.
No reserve will be set at the auction of the four bedroom, three bathroom house. The home, set on a 448 square metre plot in Villawood Property's <a href="https://trillium.villawoodproperties.com.au/" target="_blank">Trillium development at Mickleham</a>, in Melbourne's north.
The double storey house has five living areas and opens through timber stacking doors to an outdoor entertaining space with merbau decking.
The kitchen includes a walk-in butler's pantry and a 900mm cooktop, twin wall ovens and a built in coffee machine, as well as a dishwasher. It also includes Caesarstone benchtops, as do the bathrooms and en suite.
There is timber flooring throughout some living areas, with carpeted bedrooms.
The house also includes ducted refrigerated air-conditioning and 5 star zoned heating.
It will be auctioned on Good Friday, 3 April at 2pm at 16 Melody Way, Mickleham. The home is being marketed by Alex Kundevski and Troy Apostolopoulos of Oliver Hume. It will be open for inspection from 5pm til 6pm on Wednesday 25 April.
The auction event will include appearances from Channel 7 personalities and a sausage sizzle hosted by the CFA. A range of suppliers, including Austral Bricks, Hisense, Deckable Decking, All Green Nursery all donated their services or materials towards the home.
The <a href="https://www.henley.com.au/new-home-collections/clendonvale/sahara-series/belle-q1" target="_blank">Sahara Belle Q1</a> house usually costs $297,900 (not including land). The Trillium development is located 32 kilometres north of the Melbourne CBD, just north of Craigieburn. Last year, <a href="/news/henley-and-villawood-team-up-again-for-good-friday-appeal-children-s-charity-house-auction-offering">Henley and Villawood raised $717,000</a> for the Good Friday Appeal when they auctioned off a house in the Aspire community in Plumpton. 
This Easter marks the Good Friday Appeal's 85th year of contribution to the Royal Children's Hospital.
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Mickelham house and land package to be auctioned for 2015 Royal Children's Hospital Good Friday Appeal

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While Tasmania continues to favour buyers, Sydney and Melbourne offered even more favourable conditions for sellers in January 2015, according to the latest Commonwealth Bank/CoreLogic RP Data Home Buyer's Index.
The index is based on the number of properties listed to sale compared to the number of loans the Commonwealth Bank has signed in the same period.
According to the index, the top five best buyer's markets in Australia are:
<ol>
<li>Mersey-Lyell, TAS</li>
<li>Wide Bay-Burnett, QLD</li>
<li>South West, QLD</li>
<li>Mackay, QLD</li>
<li>West Moreton, QLD</li>
</ol>
Source: Commonwealth Bank/CoreLogic RP Data Home Buyer's Index
Tasmania's subdued market has consistently offered the most affordable options for buyers in recent years. The Mersey-Lyell statistical division, also known as the Cradle Coast region, includes Burnie, Devonport, Queenstown and Smithton.
In Burnie, where the median house price is currently $259,000 according to CoreLogic RP Data, this Queen Anne federation house at <a href="https://www.realestate.com.au/property-house-tas-burnie-119166255" target="_blank">13 Charles Street</a> is currently on the market for $349,000.
<img src="/images/2015/03/23/burnie%201.jpg" alt="">
The four bedroom house set on 951 square metres is a two minute walk to the town centre and has two bathrooms. The vendors purchased the home for $290,000 in 2004.
Another Burnie home, at <a href="https://www.realestateview.com.au/Real-Estate/20-garner-court-burnie/Property-Details-buy-residential-8528798" target="_blank">20 Garner Court</a>, is on the market for $159,000. The three bedroom solid brick home is currently tenanted. Advertised at $200 per week in 2012, at its current asking price (assuming the rent has stayed constant) the home would yield 6.5%.
<img src="/images/2015/03/23/20-Garner-Court-Burnie-TAS-7320-Real-Estate-photo-1-large-8528798.jpg" alt="">
The vendors paid $122,000 for the house in 2006.
According to CoreLogic RP Data, the median price of a house in Devonport was $240,000.
The vendors of <a href="https://www.realestateview.com.au/Real-Estate/5-croft-avenue-devonport/Property-Details-buy-residential-8367416" target="_blank">5 Croft Avenue in Devonport</a> are currently accepting offers over $239,000 for this three bedroom house.
<img src="/images/2015/03/23/5-Croft-Avenue-Devonport-TAS-7310-Real-Estate-photo-1-large-8367416.jpg" alt="">
Having lived in the home since 1967, the owners are now selling the house, which sits on a 726 square metre plot.
<a href="https://harcourts.com.au/Property/591457/TBN23275/25-Bellavista-Road">25 Bellavista Road in Romaine</a> is listed at $440,000 after 550 days on the market. The three bedroom house on a 2.2 hectare plot was purchased for $114,000 in 1993 and built in 1977.
<img src="/images/2015/03/23/833-TBN23275-Burnie.jpg" alt="">
<a href="https://www.realestate.com.au/property-house-tas-burnie-116242339" target="_blank">16 View Road, Burnie</a>, (pictured below) has been on the market since December last year with an asking price of $348,000. The vendors attempted to sell the home in February of last year, with an asking price of $349,000, but pulled it off the market after two months. They paid $310,000 for the house in 2011.
<img src="/images/2015/03/23/16%20view%20road.jpg" alt="">
<a href="https://www.realestateview.com.au/Real-Estate/9-jorgensen-street-montello/Property-Details-buy-residential-5706719" target="_blank">9 Jorgensen Street</a> in Montello has been listed for more than two years – 747 days – at its current asking price of $195,000.
<img src="/images/2015/03/23/9-Jorgensen-Street-Montello-TAS-7320-Real-Estate-photo-1-large-5706719.jpg" alt="">
The vendors, who bought the house for $185,000 in 2008, also attempted to sell the house in 2011, at $195,000, but took it off the market after two months. In late 2013, it was advertised to rent at $195 per week, representing a yield of 5.2% at its current asking price.
In Upper Burnie, <a href="https://www.realestateview.com.au/Real-Estate/2-11-crudwell-court-upper-burnie/Property-Details-buy-residential-4459355" target="_blank">2/11 Crudwell Court</a> has been listed for 925 days.
<img src="/images/2015/03/23/2-11-Crudwell-Court-Upper-Burnie-TAS-7320-Real-Estate-photo-4-large-4459355.jpg" alt="">
Vendors are asking for $189,000 for the investment unit. It is currently tenanted at $200 per week which represents a rental yield of 5.5% of its asking price. They  paid $175,000 for the home in 2007.
The other four of the top five buyer's markets are all located in Queensland, with the Commmonwealth Bank noting that the "best opportunities for buyers at a state level can be found in mining markets or coastal suburbs in Queensland, Western Australia the Northern Territory. The bank advises buyers seeking properties in capital cities to focus on Hobart, Brisbane and Darwin.
Dan Huggins, General Manager Home Loans Commonwealth Bank, says: "As demand in Sydney and Melbourne continues to be strong, the January 2015 Report highlights that these are the best markets for sellers."
The east coast cities took out the top two markets for favourable vendor conditions.
The top five best sellers' markets:
1. Sydney, NSW
2. Melbourne, VIC
3. Central Highlands, VIC
4. Adelaide, SA
5. Loddon, VIC
Source: Commonwealth Bank/CoreLogic RP Data Home Buyer's Index
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Tasmania's Mersey-Lyell named the nation's best buyers' market 

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Developers Victoria Investments &amp; Properties (VIP) and Mirvac adopted a ballot system to sell off the first stage of their housing estate in Melbourne's western growth corridor this weekend.
VIP and Mirvac enlisted television personality Livinia Nixon to host the event on Saturday, where registered buyers had the opportunity to select one of 70 plots at <a href="https://woodlea.com.au/" target="_blank">Woodlea</a>. Each registrant had placed a $1,000 deposit to enter the draw.
There were 185 buyers registered on the day for a chance to select a lot, which were priced from $183,500 for 500 square metres. All 70 lots have now sold.
Upon completion, the $2 billion masterplanned community located 29 kilometres from the Melbourne CBD will span 711 hectares. Saturday's event at Galli Windery was the first stage of the development's land releases.
In total, the community is expected to hold 7,100 residential lots when completed, with two pre-schools, two primary schools and a secondary school.
There are also plans for childcare facilities, a public library and a town centre. The development, located in the City of Melton, is expected to house 20,000 residents. The planned development is located between Melton to the west and Caroline Springs to the east, and will make use of the Rockbank railway station, the Western Highway, the Deerpark Bypass and the Melton Freeway.
VIP's chairman, K.T. Lim, acquired the Woodlea site 15 years ago. Prior to Woodlea, VIP has largely worked on industrial and office projects, including various commercial redevelopments in the Melbourne CBD.
Photo: Supplied.
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Woodlea sells out first stage of lots with ballot system

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With construction beginning on more than 50,000 dwelling units in the September 2014 quarter, up almost 20% on the previous year, is the construction sector all that's holding Australia back from a recession?
That may certainly be the case, according to comments from BIS Shrapnel economists at its Melbourne business forecasting conference earlier this week. And the Reserve Bank (RBA) board may just agree.
In its March meeting minutes, the RBA board noted further softening in the mining sector, with "steep declines" in mining investment contributing to below-trend gross domestic product (GDP) growth in the December quarter.
"The ABS survey of capital expenditure intentions implied further large falls in mining investment, as current projects were completed and few new projects were likely to proceed," the minutes read.
Meanwhile, income growth stayed low by historical measures and "the unemployment rate had continued its gradual upward trend".
Aside from low oil prices, the RBA board didn't see much that would continue to support consumer demand – except for residential investment.
"The current strength of housing construction and the increase in housing prices were expected to provide a measure of support for consumption," read March's minutes.
"A range of indicators, including residential building approvals, suggested further strong growth of dwelling investment in the near term."
The Reserve Bank's comments crediting construction investment with supporting the domestic economy are supported by the Australian Bureau of Statistics' (ABS) December quarter GDP figures. The ABS noted that: "In seasonally adjusted terms, the main contributors to GDP growth were Construction and Health care and social assistance each contributing 0.1 percentage points to the increase in GDP."
According to the ABS, $50.35 billion worth of construction work was done (on a seasonally adjusted basis) in the final quarter of 2014. While the figure is slightly down from its previous peak in the final quarter of 2012 (<a href="https://petewargent.blogspot.com.au/2015/02/construction-holds-up-well-thanks-to" target="_blank">as noted by Pete Wargent</a>), on a historical basis, the pace of Australia's construction industry in the past few years has been unprecedented.
<img src="/images/2015/03/23/bis-mar-23-one.jpg" alt="">
The value of total construction work done in the December 2014 quarter was also down on the figure recorded in the same period in 2013, by 4.8%. However, the decline can be attributed to engineering work and commercial construction, down 12.3% and 4.8% respectively over the year.
In fact, BIS Shrapnel managing director Robert Mellor noted on Tuesday that the state with the strongest relative commercial property construction sector currently was Tasmania, thanks to the Royal Hobart Hospital redevelopment.
Nationally, the value of residential work was up 12.7% from the December 2013 quarter.
<img src="/images/2015/03/23/bis-mar-23-two.jpg" alt="">
The Reserve Bank has also acknowledged the weak commercial property construction figures, noting in the March minutes that:
"Overall, survey measures of business conditions had remained around their average levels, while the trend in non-residential building approvals was at a low level and conditions in the commercial property market remained weak, with office vacancy rates in all capital cities at high levels."
But while residential investment has been able to buoy a flagging commercial property market, can it continue to uphold the entire economy as the mining sector slows further?
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Has the apartment construction boom saved Australia from recession?

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Precinx, a suite of urban design and planning software, has won the judges award of the Weapons of Mass Construction innovation competition at Green Cities 2015.
The project, a collaboration by Urban Growth NSW and Kinesis, models the performance of residential, commercial and mixed-use developments and makes assessments according to a range of criteria. It has been used by major government land authorities as well as private developers.
The software models the potential economic, commercial, environmental and social impact of developments, using local data sources and environmental metrics.
Users can compare the impact of their potential project against local standards. Users using the software can model the effect that additional parking, certain designs or building materials might have on the environment or on the behaviour of people who use the project in the future.
For example, <a href="https://www.kinesis.org/ccap-precinct/" target="_blank">Precinx</a> can be used to assess how improved access to public transport might affect household spending and car use, as well as greenhouse gas emissions. Urban Growth NSW and Kinesis hope the technology will drastically reduce the time needed to devote to modelling when planning urban renewal projects, and allow a more evidence-based approach to the process.
The software, also known as CCAP Precinct, will be featured in the Property Council of Australia's Property Week and the Green Building Council of Australia's (GBCA) Green Building Voice. It was picked as the competition favourite by judges Caitlin McGee, research principal, Institute of Sustainable Futures at the University of Technology, Sydney, Robin Mellon, chief operating officer of the GBCA and Geoff Dutaillis, group head of Sustainability, Lend Lease.
The people's choice award was given to Sydney University's Indoor Environmental Quality Lab for SAMBA, a monitoring system that allows building operators to assess a building's indoor environmental quality in real time.
The Green Cities 2015 conference has now finished, after three days of discussion, networking and education around sustainable property practices. The event was sponsored by the GBCA, Lend Lease and the Property Council of Australia.
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Urban planning software wins Green Cities 2015 innovation award

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Bathing Box 6 at Dendy Street Beach in the beachside suburb of Brighton will be auctioned on 28 March.
The beach box on the well known strip is located near the Brighton Lifesaving Club.
John Clarkson of hockingstuart is marketing <a href="https://www.realestateview.com.au/Real-Estate/bathing-box-6-dendy-street-beach-brighton/Property-Details-buy-residential-8489600" target="_blank">the blue and yellow bathing box</a>, with $150,000 plus price expectations.
Last year, he sold a new Brighton bathing box, 57a, <a href="/news/vic/200-000-plus-hopes-for-bright-new-bathing-box-on-brighton-beach">for $215,000</a>.
The agent has lengthy history with the suburbs' bathing boxes, being the first to auction one in 1999, for $58,000.
The highest known price for a Brighton bathing box was set in 2011 at $260,000.
While bathing boxes may be Brighton icons, they are known to fetch much more elsewhere in Victoria. In Portsea, the record for a boatshed sale was set in 2011 at $585,000. At an <a href="/expert-insights/buying/no-record-as-portsea-boatshed-fetches-553-000-at-australia-day-2015-weekend-auction">Australia Day auction this year</a>, one sold for $553,000.
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Brighton Bathing Box listed with $150,000 guide

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A new apartment complex developed by Kangoala is set to be located opposite Albert Park Golf Course.
<a href="https://www.queensdomainmelbourne.com.au/" target="_blank">Queens Domain</a>, designed by DKO architects, will have 238 one, two and three bedroom apartments set over 20 levels. The apartments include two penthouses which will be constructed to accommodate custom interiors.
The Queens Domain complex will include 252 car parks, and a variety of communal areas including a rooftop garden, a pool, gymnasium, lounge and dining room.
<img src="/images/2015/03/19/melbourne-march-19-three.jpg" alt="">
Set back from Queens Road, the development has something of a front yard, with its entrance, inspired by Copacabana beach, will also include outdoor seating.
The building's design was in part inspired by its neighbours – DKO Architects have taken their cue from the Frederick Romberg-designed modernist Stanhill and Newborn Flats, said principal Koos de Keijzer.
"The neighbouring Stanhill and Newborn Flats are traditional and functionalist buildings with sweeping open balconies and fine glass detailing," explained de Keijzer.
"Queens Domain takes up the next thread in this story reinterpreting existing elements, while showcasing the design and construction techniques of our time."
<img src="/images/2015/03/19/melbourne-march-19-two.jpg" alt="">
The curvaceous forthcoming building was designed with the intension of creating an impression of upward motion.
Interiors will be designed by Nexus, featuring Snaidero Kitchens and Pianca Wardrobes, with cut limestone flooring. One bedroom apartments <a href="https://www.domain.com.au/property-new-developments/new-apartments-off-the-plan/vic/melbourne-3004-/?adid=2011769242" target="_blank">begin at $389,000</a> and two bedroom apartments <a href="https://www.domain.com.au/property-new-developments/new-apartments-off-the-plan/vic/melbourne-3004-/?adid=2011769396" target="_blank">begin at $617,000</a>.
The development is managed by PDA, who also delivered Prahran's Emporia Apartments.
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Queens Domain development to bring 238 new apartments to Melbourne

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It's not just investor activity, but changing benefits and an increased willingness to sit out of the property game that may be keeping first home buyers out of the market, according to one economist.
At BIS Shrapnel's Melbourne business forecasting conference earlier this week, managing director Robert Mellor commented that while investor activity did put upward pressure on prices, particularly in Sydney, there were other factors which are contributing to declining first home buyer numbers.
<img src="/images/2015/03/19/bis-mar-19-one.jpg" alt="">
He cited the change in some first home buyer benefits as a catalyst for a recent shift in purchasing activity among the demographic. In New South Wales, first home buyers formerly received full stamp duty concessions on established homes, which Mellor explained equated to about a $17,000 benefit on a $550,000 purchase. The scheme <a href="/expert-insights/investing/nsw-to-scrap-full-first-home-stamp-duty-concessions-for-existing-homes-from-2012">ended in January 2012</a>.
"So those sort of changes mean for many first home buyers, certainly in NSW, you suddenly had to find another $20,000," said Mellor.
"So I'd argue the point that one of the problems for potential first home buyers was the change in the rules where grants and stamp duty benefits were only provided for new dwellings, rather than established dwellings.
"They effectively had to find another $20,000 fairly quickly."
The change, Mellor said, may have encouraged potential first home buyers to "sit out of the market for another year" to save more – only to find home price growth eclipsing their increased savings.
"And you've suddenly found that instead of trying to buy a $550,000 property, you were paying $630,000," he explained.
"And that...increase in price obviously totally swamped the lost value of the grants."
First home buyers who were unable to anticipate recent price growth, particularly in Sydney, may have found themselves priced out of the market. After a period of suppressed house prices, Mellor explained, many inexperienced buyers would not have expected prices to escalate in Sydney as they have in recent years. He also acknowledged the Australian Bureau of Statistics' admission that its first home buyer figures may be inaccurate.
<img src="/images/2015/03/19/bis-mar-19-two.jpg" alt="">
"Everybody thought three years ago Sydney house prices were already very high. Well they weren't – they were undervalued in a long term context," said Mellor. However, he said that although Melbourne had not experienced the same price strength as Sydney, a similar situation had occurred when the Victorian government abolished its first home owner grant for established properties. Nevertheless, the declines in first home buyers numbers recorded in New South Wales and Queensland have been "much more severe".
The BIS Shrapnel head also attributed some of the lowered participation of first home buyers to a generational shift in attitudes towards home ownership, with uncertainty about future employment and lifestyles leading some to put off purchasing a home.
Mellor likened the relationship between investors and first home buyers to a "chicken and the egg kind of situation".
"Is it the investors forcing first home buyers out of the market? I would say they were out of the market simply because of the change in the conditions for them, and then once they sat on the sidelines, they couldn't purchase," said Mellor.
{mijopolls 100}
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Investors not necessarily pushing first home buyers out of the market: BIS Shrapnel's Robert Mellor

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Sydney's Institute Arcade at 332 Darling Street, Balmain has been listed for sale.
The tenanted building has nine shops, five suites and a penthouse. This year, it will gross $527,838, plus GST. Current tenants include Alegrias, a Spanish tapas restaurant, and a hairdresser.
Its penthouse has three bedrooms, with city and harbour views.
<a href="https://www.realcommercial.com.au/property-retail-nsw-balmain-501484715" target="_blank">The Institute Arcade</a> was designed by architect Edward J Bowen to house the Working's Men Institute, which was established in 1965. Construction began on the building in 1887, and it was completed in 1896, reportedly for £6,000.
At the time, the building held a 400-seat lecture hall, a billiard hall, a library, a chess room and a reading room. According to Leichhardt Council, by 1912 the Institute, which aimed to 'improve the education of working men and instruct them in the trades', had 700 members.
Since then, the building has housed the Balmain dole office (during the depression), entertainment venues, and now a mix of offices, retailers and restaurants. Its interiors, renovated since its construction, are reminiscent of the building's history, with moulded arches and a tessellated tile floor in the building's foyer.
The building is currently zoned B2, for mixed residential and commercial use. It has 929 square metres of floor space, on a 645 square metre plot.
The Institute Arcade, being marketed through Steven Zoellner of Laing + Simmons Double Bay and Sonia Leal of Niche Portfolio, will be auctioned on 7 April.
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Balmain's Institute Arcade going under the hammer

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>

Joel Robinson

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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[smartcode_project_cta:default project_id=112661]

SIERA kicks off construction at Northcliffe tower Exhale

Local Little Bay residents, along with buyers from premium postcodes across Sydney’s affluent Eastern Suburbs, have dominated purchases in developer-builder Urban Property Group’s first Eastern Suburbs apartment development, <a href="https://www.apartments.com.au/new-apartments/este-little-bay-jennifer-street-little-bay-nsw-2036">ESTE Little Bay</a>.

The $250 million coastal project, one of the first new developments in the area in several years, has proven particularly popular with downsizers, especially those from Coogee and Bondi. One Double Bay downsizer paid $4.7 million for a four-bedroom penthouse, setting a new local apartment price record in the process.

Buyers have been attracted to the combination of coastal tranquillity, premium design and amenity-rich neighbourhood living. The walkable village setting, along with proximity to three of Sydney’s leading golf courses, New South Wales Golf Club, St Michael’s Golf Club and The Coast Golf Club, has also been a key drawcard.

[smartcode_project:default project_id=112343 project_image_fid=352689]

Built across two low-rise buildings designed by <a href="https://www.apartments.com.au/architects/hill-thalis-architecture-urban-projects-pty-ltd">Hill Thalis</a> and set along a lush, landscaped green spine, designed by leading landscape architect <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>, ESTE Little Bay offers a collection of one, two, three and four-bedroom residences with interiors by Richards Stanisich.

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> Sales Director, Tom McIvor said the response to ESTE has been "nothing short of extraordinary."

“Buyers have been quick to recognise ESTE as a rare opportunity to invest in a coastal sanctuary that offers both seclusion and connectivity to the heart of Sydney,” McIvor said.

[smartcode_project:default project_id=112343 project_image_fid=352687]

<a href="https://www.apartments.com.au/project-marketer/srm-residential">SRM Residential</a> Senior Director, <a href="https://www.apartments.com.au/project-marketer/srm-residential">Clayton Ross</a> said the local market has responded incredibly well, driven by ESTE’s exceptional location and the rarity it offers.

“We’ve seen strong interest from a variety of buyer groups, all of whom are drawn to the exclusivity and quality of the build and construction by the 4.5-star iCIRT-rated builder / developer, Urban Property Group. There’s truly nothing else like it along Sydney’s coastline.”

[smartcode_project:default project_id=112343 project_image_fid=352690]

The project also includes robust buyer protections, including Resilience Insurance’s Latent Defects Insurance, providing 10 years of structural cover, and an independent iCIRT-rating of the developer.

“The iCIRT-rating adds another layer of confidence,” Ross added. “Buyers see it as a safeguard for their investment and their lifestyle.” A highlight of ESTE’s offering is its exclusive wellness amenities, including a heated rooftop infinity pool and outdoor heated spa, a state-of-the-art Technogym fitness centre, and a sauna.

<a href="https://www.apartments.com.au/new-apartments/este-little-bay-jennifer-street-little-bay-nsw-2036">ESTE Little Bay</a> is topped out and is on track to complete towards the end of 2026, with residents moving in before Christmas.

[smartcode_project_cta:default project_id=112343]

Jessie Richardson

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