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Australia's largest pension fund, AustralianSuper, has expanded its overseas property investment.
It has secured a 49% stake in a $US1.32 billion ($1.7 billion) portfolio of Washington office buildings, controlled by Brookfield Property Partners.
Five of the assets are located in the East End, the premier submarket in the region. East End assets included 1400 K Street, 1200 K Street, the Victor Building, 650 Massachusetts Ave, and 799 9th Street. The remaining three assets include 1250 Connecticut Ave in the DC Central Business District; 77 K Street in NOMA (North of Massachusetts) and Bethesda Crescent in Bethesda, MD. 
AustralianSuper also teamed with Brookfield in April taking a 49 per cent stake in a $US605 million Boston office tower.
In March AustralianSuper invested $1.1 billion in a Hawaiian shopping centre, representing 25 per cent ownership.
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Earlier this year it secured a £200 million ($408 million) stake in the mixed-use <a href="/expert-insights/investing/australiansupers-400-million-king-cross-london-deal">King's Cross Central development in London</a>, beating off competition from overseas sovereign wealth funds from the Middle East and investment groups in the Far East.
AustralianSuper has $90 billion in assets under management, with around $7 billion in real estate.
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Jack McGougan, the fund's head of property, aims to hit 10 per cent over the next three to four years.
AustralianSuper has more than two million members.
In the latest deal AustralianSuper was represented by Jim Halliwell and Dan Thornton at Principal Real Estate Investors.
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jchancellor-FAypfDUnLy

AustralianSuper secures further USA office property acquisitions

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The Construction Forestry, Mining and Energy Union will pay $3.55 million to Grocon to settle the legal proceedings arising from its bitter Myer Emporium dispute, in what The Australian Financial Review suggested was a significant financial setback for the union's militant Victorian branch.
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The $3.55 million is about one-third of the $10.5 million in damages initially claimed by Grocon. 
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<div>Grocon confirmed to The AFR on Sunday that it had "achieved a commercial settlement' with the CFMEU's Victorian branch following the union's unlawful blockade of the Emporium project in August 2012.</div>
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<div>The CFMEU was previously been fined $1.25 million over its conduct during the Myer Emporium dispute. </div>
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CFMEU settles Grocon Myer Emporium construction dispute with $3.55 million payout

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Last year the Council of The New South Wales Bar Association resolved under s 48(1) of the Legal Profession Act 2004 that Christopher Patrick Comeskey’s application for the grant of a local practising certificate be refused.
It was on the basis that the bar council was not satisfied that Comeskey was a fit and proper person to hold a local practising certificate in Australia.
In November last year Christopher Comeskey filed an appeal in the Supreme Court of New South Wales which is set to shortly return its ruling.
He was a high profile New Zealand barrister, who now lives in Pymble.
He was described in the local press as sharp-suited, charming, and effortlessly eloquent - cutting a formidable media figure.
Comeskey first made headlines for defending colourful misfit, the meth-casualty property developer Mark Lyon. Lyon, initially part of Chase Corporation's development team, created Mission Corporation in the 1990s making him a millionaire who was regularly in court and jail over the past decade. Lyon, who was from the family which once ran the Goodman Fielder Wattie empire, had made $5 million by the time he was 25.
As New Zealand's most recognisable defence lawyer, Comeskey drove a Porsche and rode his Harley-Davidson through the streets around his Wellington home. 
"He ate salmon five days a week, collected antiques, and as a pilot, spoke of his plans to buy a plane for the weekly commute to his Auckland chambers," it was reported.
In 2010 the New Zealand Lawyers and Conveyancers Disciplinary Tribunal suspended him from the roll of Barristers and Solicitors of the High Court of New Zealand.
In late 2010 Comeskey indicated he would not return to NZ court work after his nine-month suspense, instead the former detective becoming a forensic crime consultant and undertake private investigation work.
But the last reference in the NZ press was in 2011 when he was working in the dental industry as an importer of cut-price dentures.
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Kiwi Christopher Patrick Comeskey seeks Sydney barrister admittance

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The rubbish-strewn property owned by Sydney’s worst hoarders, the Bobolas family, has been subject to continued Waverley Council court proceedings since last in the spotlight when the property was withdraw from February auction.
The Bobolas family came forward to settle judgments of around $180,000 on the day leading up to the scheduled Sheriff's Office auction.
But since then the property at 19 Boonara Avenue, Bondi - prime real estate in the tightly-held beachside suburb - has been subject to further Land &amp; Environment Court hearings with another judgement late last week.
Property Observer estimates it to be the 25th L&amp;E court judgement over the past decade, along with five in the NSW Court of Appeal.
Waverley Council commenced Class 4 civil enforcement proceedings seeking orders for the removal of waste, with judgment in council favour delivered in April 2015.
Then the Bobolas family filed in May 2015, a Notice of Motion dated 30 April 2015 to seek an order to set aside the judgment. 
The family were not present at the hearing on 23 and 24 April or when judgment was delivered on 24 April 2015, so they argued against the order made in their absence.
The judgment of Sheahan J in Waverley Council v Bobolas (No 2) [2015] NSWLEC 66 delivered on 24 April 2015 identified that there had been an implied application to adjourn the hearing by the family on the basis that an application for legal aid was being made.  
However a letter had been received by the Court from the Legal Aid Commission (LAC) dated 22 April 2015 advising of the refusal of legal aid, stating that legal aid is not available in matters of this kind, though subject to the right of appeal under s 57 of the Legal Aid Commission Act1979 (NSW) (LAC Act) to the Legal Aid Review Committee.
In last week's judgment, with decision against, the family were advised to prepare for compulsory waste removal along with demolition of the rear garage on the property.
When up for compulsory sale earlier his year some 64 contracts had been issued during its marketing without a single inspection.
It was expected to sell for $1.8 million plus given the 550 square land size at its proposed Raine &amp; Horne auction. The house was bought in 1973 for $15,000.
The funds had to be received and cleared to stop the auction going ahead. The property had no registered mortgage on its title.
In February Property Observer noted four writs on the title.
<pre> AT BONDI
 LOCAL GOVERNMENT AREA WAVERLEY
 PARISH OF ALEXANDRIA COUNTY OF CUMBERLAND
 TITLE DIAGRAM <a href="">DP9503</a>

 FIRST SCHEDULE
 --------------
 

 SECOND SCHEDULE (5 NOTIFICATIONS)
 ---------------
 1 RESERVATIONS AND CONDITIONS IN THE CROWN GRANT(S)
 * 2 <a href="">AI745374</a> WRIT BY WAVERLEY COUNCIL. WRIT. NO 2012/00226206.
 ISSUED 2/9/2014. LOCAL COURT
 * 3 <a href="">AI745377</a> WRIT BY WAVERLEY COUNCIL. WRIT NO.2009/00347285.
 ISSUED 2/9/2014. LOCAL COURT.
 * 4 <a href="">AI745378</a> WRIT BY WAVERLEY COUNCIL. WRIT NO. 2006/00301254.
 ISSUED 2/9/2014. LOCAL COURT
 * 5 <a href="">AI745379</a> WRIT BY WAVERLEY COUNCIL. WRIT NO. 2009/00349854.
 ISSUED 2/9/2014. LOCAL COURT.
</pre>
The property still has the four writs. Property Observer notes there has been no registered mortgage appear on title since the $180,000 fee was paid <a href="/expert-insights/buying/sheriff-cancels-bobolas-hoarders-home-auction-offering-at-bondi">to avoid the February auction</a>.
The property has been the sad centre of controversy for decades with more than $350,000 of Waverley ratepayers money spent trying to control the tonnes of rubbish.
"The photographs and first-hand observations of the witnesses show not only the breaches, but continuous and substantial increases in the amount of waste, and continuous deterioration in the condition of the subject premises," the recent court judgement noted.
"That all serves as evidence of no effort being shown by the respondents to deal with the issues."
Ironically the court judgement requires, not less than 3 days before the removal works commence, that council give notice in writing to the family of the date of intended commencement of the works - by affixing notice in sealed clear soft plastic pockets to the outside of the double front gates of the property.
Could it be spotted in all the mess?
 
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Waverley Council wins latest battle with the Bobolas Bondi hoarders

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The three Melbourne suburbs with the highest clearance rates so far this year are Bayswater, Knoxfield and Scoresby – all had clearance rates of 100 per cent heading into this weekend, according to the REIV.
No auctions this weekend reported for Bayswater.
But Scoresby kept its record intact with buyers biting sufficiently to see 21 Wattleview Rise (below) selling through Barry Plant at $836,000.
<img src="https://b.domainstatic.com.au/w800-h533-2012003408_1_pi_150614_112054" width="665" height="443">
The four bedroom home on a 725 square metre cul de sac block fetched $560,000 in 2011.
Knoxfield's run came to an end with a vendor bid when 8 Paperbark Place was put to Barry Plant auction.
Blackburn North, Heathmont, Wantirna, Glen Huntly and Hughesdale have also reportedly been very strong sellers.
A clearance rate of 79 per cent was recorded across Melbourne on the weekend compared to 79 per cent last weekend and 72 per cent on this weekend last year.
There were 850 auctions reported to the REIV.  
The REIV was expecting about 1,020 auctions across 258 suburbs on the weekend.
Last year there were 809 listings with a 72% success rate.
The top auction locations were Balwyn North (19 auctions), Richmond (16 auctions) and St Kilda (15 auctions). 
There were at least 15 sales secured at Balwyn North, including the third highest across Melbourrne. 
That $2.92 million Balwyn North sale (below) was on offer for the first time in over 50 years.
<img src="https://images.realestateview.com.au/pics/792/37-Hosken-Street-Balwyn-North-VIC-3104-Real-Estate-photo-6-large-8915792.jpg" alt="37 Hosken Street Balwyn North VIC 3104 Real Estate Photo 6" title="37 Hosken Street Balwyn North VIC 3104 House - Photo 6">
"Seize a rare opportunity to lock in a rewarding future for your family," the Fletcher's marketing said.
The classic solid brick home, <a href="https://www.realestateview.com.au/Real-Estate/37-hosken-street-balwyn-north/Property-Details-sold-residential-8915792" target="_blank">positioned on 1155 square metres on the high side of Hosken Street</a>, sits within the renowned Balwyn High School zone.
It was abled to be subdivided and utilised for a dual townhouse development, agent Daiman Kane said..
The Melbourne clearance rate for the year, prior to June 19, was 78 per cent compared to 71 per cent the same time last year.
TOP 5 HOUSES 
1. 47 Erica Avenue, Glen Iris $3,650,000 2. 11 Bristol Street, Surrey Hills $3,580,000 3. 11 Fernhurst Drive, Glen Waverley $3,450,000 4. 37 Hosken Street, Balwyn North $2,920,000 5. 20 Victoria Street, Box Hill $2,880,000
TOP 5 BARGAIN HOUSES
1. 25 Ardent Court, Hastings $190,000 2. 4 Radiata Street, Frankston North $260,250 3. 138 Coburns Road, Melton $275,000 4. 12 Moe Court, Dallas $282,000 5. 72 Roberston Drive, Mornington $306,000
TOP 5 APARTMENTS 
1. 143/85 Rouse Street, Port Melbourne $2,280,000 2. 1/9 Stanley Street, Brighton $2,265,000 3. 1/31B Nepean Highway, Aspendale $1,860,000 4. 2/65 Tramway Parade, Beaumaris $1,510,000 5. 3/111 Wattle Valley Road, Camberwell $1,410,000
TOP 5 BARGAIN APARTMENTS
1. 20/287-293 Exhibition Street, Melbourne $195,000 2. 7/20 Sandown Road, Ascot Vale $206,000 3. 17/6 Mayston Street, Hawthorn East $220,000 4. 14/550 Moreland Road, Brunswick West $225,000 5. 7/1A Wilkinson Street, Reservoir $251,000
Source <a href="https://www.reiv.com.au/Property-Research" target="_blank">REIV</a>
 
 
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Bayswater, Knoxfield and Scoresby - the Melbourne suburbs with 100% auction success during 2015

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A clearance rate of 79 per cent was recorded across Melbourne on the weekend compared to 79 per cent last weekend and 72 per cent on this weekend last year.
There were 850 auctions reported to the REIV.  
The REIV was expecting about 1,020 auctions across 258 suburbs on the weekend.
Last year there were 809 listings with a 72% success rate.
The top auction locations were Balwyn North (19 auctions), Richmond (16 auctions) and St Kilda (15 auctions). 
There were at least 15 sales secured at Balwyn North, including the third highest across Melbourrne. 
That $2.92 million Balwyn North sale (below) was on offer for the first time in over 50 years. There were five bidders.
<img src="https://images.realestateview.com.au/pics/792/37-Hosken-Street-Balwyn-North-VIC-3104-Real-Estate-photo-6-large-8915792.jpg" alt="37 Hosken Street Balwyn North VIC 3104 Real Estate Photo 6" title="37 Hosken Street Balwyn North VIC 3104 House - Photo 6">
"Seize a rare opportunity to lock in a rewarding future for your family," the Fletcher's marketing said.
The classic solid brick home, <a href="https://www.realestateview.com.au/Real-Estate/37-hosken-street-balwyn-north/Property-Details-sold-residential-8915792" target="_blank">positioned on 1155 square metres on the high side of Hosken Street</a>, sits within the renowned Balwyn High School zone.
It was abled to be subdivided and utilised for a dual townhouse development, agent Daiman Kane said. He told Property Observer the buyer will seek to subdivide. 
The Melbourne clearance rate for the year, prior to June 19, was 78 per cent compared to 71 per cent the same time last year.
TOP 5 HOUSES 
1. 47 Erica Avenue, Glen Iris $3,650,000 2. 11 Bristol Street, Surrey Hills $3,580,000 3. 11 Fernhurst Drive, Glen Waverley $3,450,000 4. 37 Hosken Street, Balwyn North $2,920,000 5. 20 Victoria Street, Box Hill $2,880,000 
TOP 5 BARGAIN HOUSES 
1. 25 Ardent Court, Hastings $190,000 2. 4 Radiata Street, Frankston North $260,250 3. 138 Coburns Road, Melton $275,000 4. 12 Moe Court, Dallas $282,000 5. 72 Roberston Drive, Mornington $306,000
TOP 5 APARTMENTS 
1. 143/85 Rouse Street, Port Melbourne $2,280,000 2. 1/9 Stanley Street, Brighton $2,265,000 3. 1/31B Nepean Highway, Aspendale $1,860,000 4. 2/65 Tramway Parade, Beaumaris $1,510,000 5. 3/111 Wattle Valley Road, Camberwell $1,410,000 
TOP 5 BARGAIN APARTMENTS 
1. 20/287-293 Exhibition Street, Melbourne $195,000 2. 7/20 Sandown Road, Ascot Vale $206,000 3. 17/6 Mayston Street, Hawthorn East $220,000 4. 14/550 Moreland Road, Brunswick West $225,000 5. 7/1A Wilkinson Street, Reservoir $251,000
Source <a href="https://www.reiv.com.au/Property-Research" target="_blank">REIV</a>
 
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Balwyn North - the weekend's busiest auction suburb with plentiful buyers biting 

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For the third time this year Thornleigh has secured another suburb price record.
This time, the Daily Telegraph reports, it was the sale of a renovated four-bedroom house on Beresford Road which bettered the $1,715,000 set last month when the record was set twice on the same day.
Auctioneer Leon Axford sold <a href="https://www.realestateview.com.au/Real-Estate/37-beresford-road-thornleigh/Property-Details-buy-residential-8947628" target="_blank">37 Beresford Road</a> through Dion Verzeletti at Ray White at $1,717,000 today. <a href="https://au.news.yahoo.com/video/watch/28508435/property-bubble-bigger-than-estimated/#page1" target="_blank">Channel 7 were there</a>.
<img src="https://i3.au.reastatic.net/800x600/56e73ac2c4a76a378b7f9ba23cb7c97c7f3cdb45b76d5b5c2d2090d1cee674cb/main.jpg" alt="37 Beresford Road, Thornleigh" title="37 Beresford Road, Thornleigh" data-index="0">
Property Observer recently noted Thornleigh was among 14 Sydney suburbs scoring a perfect 100% auction clearance rate during the autumn selling season.
Thornleigh on the upper north shore headlined the remarkable feat <a href="/expert-insights/buying/thornleighs-100-autumn-auction-success-rate-and-the-13-other-stellar-sydney-hotspots">with 23 sales over the three months to May 31</a>.
The $1,717,000 house had been extensively renovated having previously (photo below) sold at $660,000 in 2013 and at $640,000 in 2010.
<img class="js-first-image" src="https://b.domainstatic.com.au/w800-h600-6747086_1_pi_150228_085305" alt="37 beresford rd thornleigh NSW 2120">
Thornleigh's runner up now is 20 Handley Avenue, (below) a five bedroom country style homestead.
<img src="https://i1.au.reastatic.net/456x342/07c6c3fd3959eadaed1cb608088d03b78596262841232e83d31c38f03847f97d/main.jpg" alt="20 Handley Avenue, Thornleigh" title="20 Handley Avenue, Thornleigh" data-index="0">
Still on the podium is 23 Judson Road, a five bedroom single storey home (below) on a 778 square metre triangular block.
<img src="https://i1.au.reastatic.net/456x342/b2bf40fa180206e8289961625184f19419bcb7aff967a9a5732619e744b6707a/main.jpg" alt="23 Judson Road, Thornleigh" title="23 Judson Road, Thornleigh" data-index="0">
The suburb went into 2015 with a $1,525,000 top sale price.
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$2000 higher, so Thornleigh's third record residential sale in 2015

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Professional renovators Gav and Waz, who appeared on the first series of The Block reality television in 2003, have listed their two-bedroom Rockwall Gardens, Potts Point apartment.
It is a ground floor apartment on Tusculum Street advertised on <a href="https://www.realestate.com.au/property-apartment-nsw-potts+point-120052945" target="_blank">realestate.com.au</a>. They are testing the apparently buoyant market in the inner city suburb where <a href="/news">CoreLogic RP Data</a> actually have the median apartment price down to $525,000 since they bought last year. The median price for a two-bedroom unit with a car space in the suburb sat at around $1 million, <a href="/expert-insights/buying/inner-city-car-parking-convenience-costs-record-264-000-at-the-chimes-potts-point">before the recent $264,000 car space sale</a>.
<a href="https://www.realestate.com.au/photogallery_new.ds?id=120052945&amp;theme=rea.buy" rel="photos" data-id="120052945"><img src="https://i2.au.reastatic.net/800x600/4927987fff45b2431ac9aa8f042cc376784a626a3fb04b694aa08379fd410724/image7.jpg" alt="G06/1A Tusculum Street, Potts Point" title="G06/1A Tusculum Street, Potts Point" data-index="6"></a>
The renovation duo settled only last July at a hefty $2.25 million, with renovations completed since on the apartment with two bedrooms, two bathrooms and a car space. There are still trademark Deece Giles interiors since the boys bought from the renown Sydney architect.
<img src="https://i3.au.reastatic.net/800x600/de77c1b00ad9bb49b76435f854d9a20119e636f73fe6782622a2c83b1db64537/main.jpg" alt="G06/1A Tusculum Street, Potts Point" title="G06/1A Tusculum Street, Potts Point" data-index="0">
Now surrounded by greenery, the total floor space, inside and out, is 180 square metres. It comes with outdoor fireplace by Rolling Stone Landscapes, gold medal winners at the prestigious Chelsea Flower Show.
<img src="https://i2.au.reastatic.net/800x600/4311073f62ad842d671b4b094e23b21e3485102865d75ae1a1db9c8ada01cff4/image3.jpg" alt="G06/1A Tusculum Street, Potts Point" title="G06/1A Tusculum Street, Potts Point" data-index="2">
Jason Boon and Geoff Cox, of Richardson and Wrench, won't reveal how much profit the boys really want for their snug viewless offering, but Title Tattle gleans high $2s will  make them content.
Charlie, their Jack Russell, featured in the advertising (below) to stress the pet friendly nature of the block, is not included.
<img src="https://i4.au.reastatic.net/800x600/583595704b77639853d24a55dd1425c5fc8b48a2eebc3fc9d552e0ecfebdc893/image5.jpg" alt="G06/1A Tusculum Street, Potts Point" title="G06/1A Tusculum Street, Potts Point" data-index="4">
Two contracts were issued following the initial weekend open for inspection.
Warren Sonin and and Gavin Atkins have poured serious money into the Potts Point precinct in recent times spending $1.38 million on three investment acquisitions between 2013 and late 2014.
They sold their 23-hectare farm, Charltons, in the Byron Bay hinterland for $3 million in 2013.
<img src="https://i4.au.reastatic.net/800x600/b69408cc3be8b2c1cd61d65297a5fc53735f12a679a8ca18f16fdd4dac073583/image9.jpg" alt="G06/1A Tusculum Street, Potts Point" title="G06/1A Tusculum Street, Potts Point" data-index="8">
Some 26 registered parties ensured a strong price today for a top-floor unit <a href="https://www.realestate.com.au/property-apartment-nsw-potts+point-119904929" target="_blank">6/1 St Neots Avenue, Potts Point</a> that fetched $1,846,000 under the hammer through Ray White Double Bay agent Kim Hayes. 
It sold to an investor.
It came with harbour views.
Sydney's overall weekend clearance rate was a smidge down at 83.2%, compared to last weekend's initial 83.3%, which was then revised down to 81.9% after the late notified results.
Mosman again had the highest sale across Sydney - at $3.05 million at 4 Sverge Street - again through McGrath, albeit at half last weekend's top reported sale.
It was a 1960s original (below) on 768 square metres.
<img src="https://b.domainstatic.com.au/w1600-h1200-2012013305_4_pi_150608_050755" width="593" height="445">
 
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Inside Gav and Waz's garden Potts Point quick flip

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Harris Park secured a record price of $1,395,000 when the home at 15 Ruse Street sold last weekend through Ray White Parramatta.
<a href="https://www.raywhite.com/nsw/harris-park/1308596/" target="_blank">The three bedroom property</a> had been held by the same family for over 40 years. There had been higher sales but not as single dwellings, rather developer sites.
Adjoining the Experiment Farm cottage estate, the price reinforced the growing status of Harris Park as an inner city suburb of Parramatta City.
"In recent times the suburb has come alive with a vibrant restaurant strip, shopping precinct and an upgraded railway station, in fact an easy walk to the Parramatta CBD is possible from most parts of the suburb," Ray White Parramatta agent Amit Nayak said.
The auction campaign had over 250 inspections and 45 bidding registrations on the day at the 627 square metre property. 
 
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Harris Park record residential sale at $1,395,000

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Two 19th century homes designed by Edmund Blacket in Darling Point have been sold. Both have been flats, so now face conversion back to single dwellings.
One of the pioneer Thomas Mort's former homes, the heritage listed 1850 Greenoaks Cottage, set on 1,307 square metres, has sold for perhaps $6.5 million having been long listed through Michael Dunn at Richardson &amp; Wrench Double Bay who was seeking $7 million plus buyer interest.
It was built around 1850 to a design by Edmund Blacket for the children of renowned industrialist Thomas Mort.
<a href="https://www.rwdoublebay.com.au/1779741/" target="_blank">The Gothic Revival residence, St Mark's Terrace</a> (pictured above) has also sold - at around $5.5million - having been listed following the death of the MacMahon family matriarch Betty, wife of the late surgeon Dr Edward MacMahon, whose portrait by the artist, Sir William Dobell won the 1959 Archibald prize.
Built around 1849, it was designed by the colonial architect as part of the Bishopscourt estate when owned by Thomas Mort.
<div class="cT-imagePortrait">
The heritage-listed property currently configured as four apartments is set be returned as a residence after its sale, also by Richardson &amp; Wrench Double Bay's Michael Dunn.
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Darling Point 1850s Edmund Blacket homes sell

Sydney developer&nbsp;<a href="https://www.apartments.com.au/developers/central-element">Central Element</a>&nbsp;is doubling down in Drummoyne, lodging plans for a boutique apartment development on St Georges Crescent, only one-kilometre down the road from its first Drummoyne development, Bianca.

The new project at 15A-21 St Georges Crescent,&nbsp;a&nbsp;1,701sqm north-facing site overlooking Iron Cove, will have 45 apartmnts across 10 levels. Eight of the units will be dedicated to affordable housing.

The site sits within walking distance of Drummoyne Village, Birkenhead Point, ferry services and the Bay Run, and offers harbour views towards the Sydney Harbour Bridge and CBD skyline.

Designed by MHN Design Union, the development will deliver a mix of one, two and three-bedroom apartments, alongside resident amenity including a gym, landscaped communal open space and three levels of basement parking.

The project has been lodged under the NSW Government's Low and Mid-Rise Housing reforms, with Drummoyne Village identified as a town centre capable of accommodating additional housing supply.

Central Element acquired the site earlier this year as part of its continued expansion across Sydney's eastern suburbs, lower north shore and inner west.

The developer's current pipeline includes luxury apartment projects Pearl Bondi and a separate development on Lamrock Avenue in Bondi, a residential project in Barry Street, Neutral Bay, and a mixed-use seniors living community in Greenwich.

Central Element Managing Director Nathan Chivas said the project would address a shortage of new owner-occupier housing opportunities in Drummoyne.

"While we're seeing a significant shift across Canada Bay as major infrastructure investment, population growth and planning reform drive a new chapter for the region, in suburbs like Drummoyne there remains a genuine shortage of new boutique luxury housing opportunities for owner occupiers," Chivas said.

"Sites of this nature are increasingly difficult to secure, particularly those that combine a north-facing aspect with direct water outlook. Our St Georges Crescent project responds directly to the market demand, offering a level of exclusivity, outlook and lifestyle in the highly sought after suburb."

The development application has been lodged with the City of Canada Bay Council, with the project expected to launch to market in early 2027.

&nbsp;

Joel Robinson

Central Element seeks second Drummoyne apartment development

The NSW Government has unveiled plans that could deliver around 1,300 new homes across Nowra and Kiama, continuing its push to unlock housing in well-located regional centres along the South Coast.

The proposals, now on public exhibition, would pave the way for around 830 homes in Nowra and a further 450 homes in Kiama, while also introducing affordable housing requirements and increased building heights in key locations.

The larger of the two proposals is centred on Nowra, where the NSW Government is seeking to rezone land within the Mandalay and Riverfront precincts.

The Mandalay sub-precinct, located close to Shoalhaven Memorial Hospital, Nowra Library and the city's aquatic centre, could accommodate around 530 new homes. Around 30 per cent of housing delivered on Homes NSW-owned land would be dedicated to social and affordable housing, equating to roughly 100 homes. Building heights would increase from the current two-storey limit to between three and six storeys.

A separate rezoning proposal for the Nowra Riverfront Precinct would unlock a further 377 homes while creating stronger connections between the Shoalhaven River and the CBD. The plans include building heights ranging from five to 12 storeys, floor space ratios of up to 2:1 and a requirement for two per cent affordable housing.

Together, the two proposals would deliver more than 900 homes across the broader Nowra area, reinforcing the city's role as one of regional NSW's key growth centres.

The housing push builds on previous infrastructure commitments in the Shoalhaven, including government funding aimed at supporting thousands of future homes in West Nowra through upgrades to water and wastewater infrastructure.

Further north, the NSW Government is also progressing plans for the former Kiama Depot site, a two-hectare parcel near Kiama's town centre.

The rezoning proposal would transform the former industrial site into a residential community capable of delivering up to 450 homes. Buildings would range between six and eight storeys, with at least 10 per cent of homes allocated as affordable housing. The proposal also includes approximately 600 parking spaces and improved walking and cycling connections.

Planning Minister Paul Scully said the proposals are designed to increase housing supply in locations close to jobs, transport and services.

"For too long, families have struggled to find somewhere to live, and activating underutilised sites allows us to deliver the new homes these families need," Scully said.

"The Minns Labor Government is getting on with the job of unlocking well-located sites close to transport, jobs, and town centres and building the homes our communities need.

"These rezonings are about removing barriers to housing delivery and making sure land is put to better use so more people can find a place to call home within the communities they choose."

The latest rezonings form part of the Minns Government's broader strategy to accelerate housing delivery across NSW, particularly in established centres where existing infrastructure can support additional population growth.

Community consultation on the proposals is now underway, with feedback set to inform the final planning controls before the rezonings are determined.

Around 1,300 new homes earmarked for Nowra and Kiama as NSW Government pushes housing supply

<a href="https://www.apartments.com.au/developers/mrcb">MRCB International</a> has commenced construction on its latest Gold Coast apartment development, Maris, on the site of the former Sundale Motel in Southport.

The start of construction by <a href="https://www.apartments.com.au/builders/binah-constructions">Binah</a> follows an exceptionally strong sales campaign, with more than 90 per cent of apartments sold since launch. Every purchaser has been local, an&nbsp;indicator of confidence in both the development and Southport's evolution into a thriving CBD.

<a href="https://www.apartments.com.au/new-apartments/maris-southport-20-queen-street-southport-qld-4215">Maris</a> will deliver 192 residences across 20 levels. The project forms part of MRCB's Australian and New Zealand development pipeline now exceeding $1.6 billion in gross development value, alongside a growing portfolio of projects globally.

[smartcode_project:default project_id=134403 project_image_fid=350663]

The company also commenced construction on its $600 million 26 Vista residences in Surfers Paradise last year, following strong sales momentum, with over 70 per cent of residences sold.

Maris has been designed to meet evolving buyer demand, offering architecturally designed layouts suited to long-term liveability. The approach reflects a growing preference for quality and adaptability among Gold Coast buyers.

Positioned next to the Broadwater in the <a href="https://www.apartments.com.au/developments/southport-qld-4215">Southport</a> CBD, Maris sits directly opposite the Broadwater Parklands light rail station and within easy reach of retail, dining and lifestyle precincts, placing residents at the centre of one of the Gold Coast's most connected and rapidly maturing urban centres.

[smartcode_project:default project_id=134403 project_image_fid=372756]

Maris will offer a full suite of resort-style residential amenities, including a pool, gym and sauna, along with a rooftop level featuring decks, lounges and dining and yoga areas that command sweeping views across the Broadwater and out to the ocean.

Binah, a New South Wales headquartered company co-founded by Amen Zoabi and Khalil Hafza in 2008, has expressed its excitement at establishing its first partnership with MRCB.

Binah's Managing Director Khalil Hafza said partnering with MRCB on Maris is a significant moment for Binah.

"MRCB's financial strength and a track record that speaks for itself give this project a solid foundation, and this marks the beginning of what will be a long and successful relationship.

"With the right people, systems and partnerships behind it, Maris is set to become a significant addition to the Gold Coast's premium residential market."

[smartcode_project:default project_id=134403 project_image_fid=350664]

MRCB International CEO Ravi Krishnan said the project's progression to construction reflects both sustained demand and tightening conditions across the apartment sector, as well as MRCB's continued confidence in the Gold Coast market.

"Commencing construction at Maris is a significant step and reflects the depth of demand for quality apartments in well-connected urban locations," said Krishnan.

"Across Southeast Queensland, new apartment supply remains constrained, particularly in established precincts with infrastructure and amenity already in place. Projects like Maris are increasingly critical in meeting that demand, especially on the Gold Coast and in the city's CBD precinct."

[smartcode_project:default project_id=134403 project_image_fid=372761]

Krishnan said Southport's ongoing transformation, supported by infrastructure investment and long-term planning, was underpinning renewed buyer confidence.

"We're seeing a clear shift back towards well-located urban centres where infrastructure, connectivity and amenity are already established," said Mr Krishnan. "Southport is evolving into a more mature CBD environment, and that is being reflected in buyer behaviour."

Construction at Maris is anticipated to be completed in 2029.

[smartcode_project_cta:default project_id=134403]

Construction commences on MRCB’s $200m Maris Residences in Southport

Moonee Valley Park’s latest residential release <a href="https://www.apartments.com.au/new-apartments/the-eveline-at-moonee-valley-park-moonee-ponds-100-thomas-street-moonee-ponds-vic-3039">The Eveline</a>, has achieved a new benchmark for off-the-plan apartment sales in the suburb, with the sale of The Alexandra penthouse selling for $5,435,000.

Positioned on the top floor of a 16-level residential building, the three-bedroom, three and-a-half-bathroom penthouse features uninterrupted city skyline views across the future Valley racetrack.&nbsp;

The landmark sale comes as momentum at the precinct continues to build, with the Moonee Valley Racing Club progressing works on its new racetrack ahead of the 2027 Cox Plate. The transformative development will see MVRC reimagine the beloved Valley as a vibrant year-round entertainment and lifestyle destination.

Alongside a world-class racing experience, the historic precinct will be activated with events, hospitality and public green spaces designed to attract broader audiences, while breathing new life into one of Melbourne’s most iconic destinations.&nbsp;

[smartcode_project:default project_id=142519 project_image_fid=372786]

Development partners <a href="https://www.apartments.com.au/developers/hamton">Hamton Property Group</a> and Hostplus have delivered five residential stages over the past four years, the most recent in November 2025 with Trackside House and Stonepine House. The flourishing community is now home to almost 500 families.&nbsp;

The latest residential release, The Eveline, has recorded strong demand since launching publicly last July, securing more than $200 million in sales to date, satisfying its pre sales hurdle for construction to commence.&nbsp;

Hamton Founder and Executive Chairman, Paul Hameister OAM said, the sales&nbsp;team have been overwhelmed by demand for these unique homes in this unique project.

"Buyers continue to be predominantly hyperlocal and attracted by the 40 hectare botanic masterplan in Melbourne’s inner north west," Hameister said.

[smartcode_project:default project_id=142519 project_image_fid=372788]

Hamton’s Sales and Marketing Director Fergus Humphries said the team has achieved more than 70 sales over the past eight weeks, including the penthouse purchase by a local buyer.

"These results reinforce that, even in a challenging market, purchasers continue to be drawn to quality projects that offer more than just a home, they offer a lifestyle.”

Designed by Cera Stribley, the penthouse has been created with entertaining in mind, spanning close to 400 sqm of indoor and outdoor living space, including multiple terraces designed to capture sweeping views across Melbourne’s skyline, the new Valley racecourse and sunset views over Moonee Ponds.

Moonee Valley Park is one of Melbourne’s largest urban renewal projects, transforming the iconic racecourse site into a vibrant mixed-use neighbourhood integrating homes, parklands, retail, racing and community amenities.

[smartcode_project_cta:default project_id=142519]

Moonee Valley Park penthouse sets suburb record as sales surge clears construction benchmark

A company linked to one of Australia's largest privately owned cattle businesses has lodged plans for a new residential tower in <a href="https://www.apartments.com.au/developments/newstead-qld-4006">Newstead</a>, continuing the rapid transformation of one of Brisbane's most sought-after, inner-city precincts.

Bottletree Holdings, an entity associated with Stanbroke Managing Director Brendan Menegazzo, has submitted a development application for a 28-storey mixed-use tower at <a href="https://www.apartments.com.au/new-apartments/9-longland-street-newstead-qld-4006">9 Longland Street</a>, a site that made headlines last year when it changed hands in an off-market transaction that reportedly set a benchmark land rate for the suburb.

The proposal would replace an existing two-storey commercial building on the 1,510 sqm corner site with a Bureau Proberts-designed tower comprising 76 apartments, ground-floor retail, office space and a suite of resident wellness amenities.

<img alt="9 Longland" data-entity-type="file" data-entity-uuid="c710a836-568e-4382-bc91-3c34b8e80a8b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.41.45%E2%80%AFAM.png?VersionId=Vy.mQWBc7GA_a.vIBdxKqRC9XGjWalo2" />

According to planning documents lodged with Brisbane City Council, the development would comprise a mix of 36 two-bedroom apartments, 24 three-bedroom apartments and 16 four-bedroom residences, positioning the project firmly at the premium end of the market. The apartments would sit above a podium containing retail and commercial space, with three levels of communal recreation facilities spread throughout the tower. The proposal also includes 198 car spaces and 95 bicycle spaces.

Bureau Proberts has drawn heavily on Newstead's industrial heritage in developing the architectural response.

"Occupying a prominent corner in the heart of Newstead, the proposal draws from the area's industrial lineage of robust brick warehouses to deliver a distinctly contemporary response," the architects said in the design statement.

"It is conceived as a subtropical sanctuary and elevated private retreat embedded within one of Brisbane's most vibrant lifestyle precincts."

The design seeks to reinterpret the traditional Queensland vernacular through wraparound verandahs, deep shading elements and permeable facades that respond to Brisbane's subtropical climate.

<img alt="9 Longland" data-entity-type="file" data-entity-uuid="25524f59-395c-4825-8fad-9b639822fa8a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.42.09%E2%80%AFAM.png?VersionId=dlWlbpCc_g3Y6yTLGqRVKvGJvO2ubMJ3" />

Planning documents describe the building as embodying the principles of "buildings that breathe", a design approach increasingly favoured in Brisbane's apartment market as developers focus on natural ventilation and outdoor living spaces.

The tower itself would rise above a heavily landscaped podium designed to reference the woolstore architecture that helped define Newstead and neighbouring Teneriffe for generations. At ground level, fine-grain retail tenancies would activate Longland Street, Wyandra Street and the existing Wyatt Street laneway, further extending the pedestrian network that has become a hallmark of the Gasworks precinct.

The application notes that more than 54 per cent of the site would be dedicated to landscaping and deep planting, while approximately 1,750 sqm of communal recreation space would be delivered across multiple levels.

<img alt="Planning" data-entity-type="file" data-entity-uuid="fed3b189-1054-4b68-af5f-b0befc4a66e5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.42.19%E2%80%AFAM.png?VersionId=gqeE3cjsbnLAfeTUKA1HtPZfqDs6S4Xa" />

Bottletree paid $22 million for the 1,510 sqm development site, equating to more than $14,500 per sqm, a reflection of the strong demand for development opportunities in Newstead. The suburb continues to attract both developers and buyers, underpinned by the ongoing evolution of the Gasworks and Teneriffe precincts into some of Brisbane's most sought-after lifestyle destinations.

Brisbane City Council's Sustainable Growth Strategy and Inner City Strategy both identify Newstead as a priority growth precinct capable of accommodating additional housing density due to its proximity to employment hubs, public transport and lifestyle infrastructure.

The proposed tower joins a growing pipeline of high-end apartment developments in the suburb. Fortis recently launched <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a>, a 65-apartment owner-occupier-focused development on Kyabra Street, while Consolidated Properties Group is preparing to launch <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a 227-apartment waterfront project on Skyring Terrace.

Meanwhile, builder-developer BPG is planning its own Newstead project on Maud Street, comprising just over 100 apartments and more than 1,380 sqm of dedicated wellness and resident amenity spaces, further highlighting the shift towards lifestyle-driven apartment developments in Brisbane's inner-city market.

Jonathan Chancellor

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