<html><body>
Figures from Federal Treasury show there were 88,000 established homes owned by temporary residents as of March 2015.
There are concerns that people on temporary residency visas — who are entitled to buy established homes as long as they sell on leaving the country — have kept their properties as investments.
NSW accounts for 26% with Victoria constituting 25 per cent of those home approvals as temporary visa-holders.
Western Australia accounts for 22% of the established housing market for temporary residents, Fairfax Media report.
Queensland has 19% followed by South Australia with 4%, the ACT with 1.5%, Tasmania with 1.1% and Northern Territory with 0.2%.
Temporary residents are allowed to buy one established dwelling to live in, but are required to sell it when their visa expires or the property is no longer their primary residence.
 
</body></html>

jchancellor-FAypfDUnLy

NSW heads the 88,000 temporary resident home ownership stats

<html><body>
<div class="cq-article-content-paras section">
The Australian Tax Office is investigating 195 possibly illegal real estate sales to foreigners.
They have identified one foreign investor who appears to be linked to over 10 properties ranging from a $300,000 unit to a house worth $1.4 million.
A second divestment order - that will follow Point Piper's Villa del Mare - is expected over a Perth property after an investor from the United Kingdom admitted a $700,000 purchase.
Under the current amnesty, investors who declare unlawfully purchased properties before November 30 would avoid prosecution.
Up to 24 foreign investors have come forward under an amnesty to disclose they may have breached home-ownership rules, Treasurer Joe Hockey has advised. 
Tax commissioner Chris Jordan told a recent senate committee hearing that the 195 investigations had arisen after people came forward voluntarily and from other people dobbing them in.
"There's 195 in total that we are looking at," Mr Jordan said, in response to questioning from Labor senator Sam Dastyari.
"Some have come forward, some are complainants, because they think the people have breached; sometimes they have, sometimes they haven't," Mr Jordan said.
"We are aware of some instances where they are not just the trophy property but there might be a number of properties that cover the spectrum; in total they might add up to a significant amount."
When asked if one the houses being investigated was Altona, a $52 million mansion in Sydney, the ATO said it could not comment on investigations.
</div>
<div class="cq-article-content-media section">
Fairfax Media has reported a preliminary audit of foreign investment in Australian real estate had also identified a network of "high risk" investment advisers.
</div>
<div class="related-quotes section">
The Australian Tax Office audit was initiated by Treasurer Joe Hockey and parliamentary secretary to the Treasurer Kelly O'Dwyer.
It came after resources available at the Foreign Investment Review Board, in the Department of Treasury, were found to be inadequate.
The audit is being assisted by a boost in funding in last month's federal budget, building an investigation force of 60.
</div>
<div class="cq-article-content-paras section">
ATO Second commissioner Neil Olesen said investigations would be mostly on top-end properties
"I'd be surprised if a fair slab of them were not towards the top end of the market. One of the compliance activities we have in mind would be to look at significant sales over the last five to 10 years."
Meanwhile Shadow treasurer Chris Bowen said "any allegations of breaches of foreign investment rules should be thoroughly investigated" but dismissed Joe Hockey's hardline stance on trophy home purchases as addressing housing affordability.
"Joe Hockey has held up forced sales of Point Piper mansions as somehow being a contribution to first home owners and housing affordability," Chris Bowen said.
"Young Australian first home buyers want action from this government. Joe Hockey promised a housing affordability policy before the last election but has actually delivered naught."
</div>
</body></html>

ATO foreign investment crack squad investigating 195 property sales 

<html><body>
China’s largest developer Greenland Group has bought the Crest Hotel in Sydney’s Kings Cross.
The property, with development potential, was bought from Sam Arnaout’s hospitality and development group Iris Capital.
Colliers International agent Miron Solomons handled the off-market transaction of the property on the Victoria Street and Darlinghurst Road corner.
Iris bought The Crest for about $65 million from Australand in 2012. 
Iris also owns the Bourbon bar and restaurant in Kings Cross, so has forgone the opportunity to bookend the Kings Cross strip with prestige projects.
The Victoria Street-Darlinghurst Road hotel has an end value of about $300 million with a $55 million development value.
The state-owned Greenland is set to float on the Shanghai Stock Exchange.
The Crest Hotel has development ­approval for 139 apartments.
<img src="https://durbachblockjaggers.com/file/02-crest-hotel_550a6539cd7ae-projectImage.jpg">
Iris had plans to develop the 19-storey tower with an hourglass design by architects Durbach Block Jager.
Following a design competition held by the City of Sydney council, the concept for stage-one plans were approved.
Comparisons have been drawn between New York's Times Square and the new site for <a href="https://durbachblockjaggers.com" target="_blank" style="line-height: 1.3em;">DBJ's The Crest</a>.
All images from Durbach Block Jaggers.
 
</body></html>

Greenland buys The Crest in Kings Cross

<html><body>
The Red Hill residence of Claire Vickery sits on a 3.78 hectare vineyard holding with views towards Port Phillip.  
The Mornington Peninsula property is under vine with Pinot Noir and Pinot Gris grapes. There are vines on either side of the five bedroom, six bathroom house.
The 160 Harrisons Road property vineyard has lease arrangements until April 2017 to Martha Cove Vineyards. It last traded at $2.35 million in 2003. 
Claire Vickery is the philanthropist founder of The Butterfly Foundation, the daughter of renowned winemaker Dr John Middleton of Mount Mary Vineyard.
The residence has a front wall of windows enhanced by the rustic fusion of aged timber pylons from Manly Pier.
It has been listed <a href="https://www.realestateview.com.au/Real-Estate/160-harrisons-road-red-hill/Property-Details-buy-residential-8972278" target="_blank">through Holly Longmuir at RT Edgar Flinders</a>. 
A nearby one hectare holding with a housing compound built in 2000 sold last month at $1.55 million having traded in 2012 for $1,475,000.
</body></html>

Butterfly Foundation's Claire Vickery lists Red Hill vineyard home

<html><body>
A Glebe terrace, featured in the Australian film Looking for Alibrandi, has been sold after its Ray White auction at $1,320,500.
The fame of <a href="https://www.realestateview.com.au/Real-Estate/1-cardigan-street-glebe/Property-Details-buy-residential-8774124" target="_blank" style="line-height: 1.3em;">1 Cardigan Street</a> dates back to the 2000 film which movie buffs will recognise as the home of Josephine Alibrandi.
Updated since the film, the two-bedroom 1900 home features a modern kitchen, bathroom and new decor.
Based on the novel by Melina Marchetta about a teenage girl, Looking for Alibrandi starred Australian actors including Pia Miranda, Anthony LaPaglia and Greta Scacchi.
It last sold after 20 years of ownership in 2013 at $900,000, when the film was writ large in the marketing.
The inner west gave Italo-Australian authenticity to Looking for Alibrandi, though Cardigan Street was chosen for its city views. 
 
</body></html>

Looking for Alibrandi, Glebe terrace sells

<html><body>
A Harry Seidler-designed home - with cathedral-like vertical spaces - in Sydney’s Balmain has been sold pre-auction through Belle Property agent Monique Dower.
It was marketed as seeking $5 million plus, selling as the Queen's birthday weekend highest result.
No sale price was given, but it easily bettered a $3.5 million Blakehurst sale.
Title Tattle recalls the Balmain property was listed for 2013 auction with an unsuccessful price guide of $6 million.
Located at 22 White Street, the three-bedroom, two-bathroom home was built in 1995.
It was first sold in 1999 a $2.5 million by University of Sydney professor of psychiatry Russell Meares and wife Sue through Double Bay agent Sally Hampshire.
<img src="https://i1.au.reastatic.net/456x342/a0bfbe43964f4ce15d7c09c3434a60ae4ae11510234ac109efa3f415ae34d76d/main.jpg" alt="22 White Street, Balmain" title="22 White Street, Balmain" data-index="0">
Named the 'Sydney Seidler', it was one of the last residential properties Seidler created before his death in 2006.
The home boasts Seidler’s signature curved walls and roof and triple-height ceilings set on a 798-square-metre waterfront block.
The main living areas offer views over the water.
<img src="https://i3.au.reastatic.net/456x342/2d189163cb4c5fe1f8f7f654f05dc1b55e28131b06bb031f0b70284f246af058/image10.jpg" alt="22 White Street, Balmain" title="22 White Street, Balmain" data-index="9">
It also comes with pool, boatshed and slipway.
The property last sold in October 2001 for $3.41 million, which Danny Cobden, director of Cobden and Hayson noted at the time, was a record auction price sale of a home in Balmain.
Set on the corner of White Street and Tilba Avenue, and opposite Elkington Park, the split-level house has even been listed on the Stayz website for rent at $1100 a night with a five-night minimum stay.
</body></html>

Harry Seidler-designed Balmain trophy home sold pre-auction

<html><body>
Liverpool was again the location of Sydney's cheapest weekend sale.
It was a two bedroom apartment (below) that fetched $317,500 through Ray White agent Adrian Bonino.
<img src="https://i2.au.reastatic.net/456x342/e37b6f9bfe75cb092eb9b35deb4ff37bbb6b82efdcd640a1892a91c3cb84acd8/main.jpg" alt="29/42-44 Copeland Street, Liverpool" title="29/42-44 Copeland Street, Liverpool" data-index="0">
It last sold in 1983 at $35,000. 
The 29/42-44 Copeland Street complex's last sale was in February when another two bedroom apartment fetched $300,000. It was put up for rent a $300 a week, reflecting a 5.2% yield before costs.
There was an 85.1% success rate across the Sydney market that barely paused for the Queen’s Birthday holiday.
Nearly 400 homes were listed which is similar to the last year's 393 and predictably well ahead of the 853 auctioned last weekend, Dr Andrew Wilson, the APM senior economist.
Sydney’s upper north shore hosted the most number of auctions with 55 listed followed by the west with 52, the south west 50, the south 45, the inner west 44, the lower north 32, the northern beaches 32, the s 55, the city and east 31, Canterbury Bankstown 22 and the north west with 18 auctions scheduled this weekend.
Mosman and Hornsby were the most popular suburbs for auctions in Sydney with eight each followed by Blacktown and Guilford with seven each.
Sydney’s weekend auction market bounced back on the last May Saturday to end its record breaking season clearly on a high.
Sydney ‘s has recorded a remarkable average Saturday clearance rate of 84.4 percent over autumn which is well ahead of the 79.3 percent recorded over autumn last year. Clearance rates over the past three months have been the highest ever recorded by Sydney reflecting an unprecedented wave of auction activity.
Although clearance rates are at record levels, the number of auctions conduced this year in Sydney has declined. 10,334 Saturday auctions have been listed since the beginning of February compared to 10,622 over the same period last year.
In late May 10/22 Nagle Street, Liverpool $336,000 - a two bedroom unit (below) was the cheapest on that weekend.
<a href="https://www.realestate.com.au/photogallery_new.ds?id=119670199&amp;theme=rea.buy" rel="photos" data-id="119670199"><img src="https://i1.au.reastatic.net/456x342/defb7ae0bac81e6df0af5daa0ebd987515ddfdc117147de4f6c13f05a2106c54/main.jpg" alt="10/22 Nagle St, Liverpool" title="10/22 Nagle St, Liverpool" data-index="0"></a>
Property Observer gleans the LJ Hooker Liverpool agent Pat Bugge sold it to an investor. It was up for rent last August at $290 a week, reflecting a 4.5% yield.
The block's previous highest two bedroom sale was $321,000 in early 2015, then put up for rent at $300 a week.
 
</body></html>

Less auctions, as Liverpool again led the cheapest Sydney weekend purchasing opportunity

<html><body>
John Flavell, CEO of home loan experts Mortgage Choice, while not denying the property market is hot in parts of Sydney and Melbourne, says we are not experiencing a property price bubble.
"To state that a property bubble exists in Sydney and Melbourne you would have to believe we will see a sudden and dramatic reduction in property prices over a very short period of time.
"Property prices, like the prices for anything else, are driven fundamentally by supply and demand.
"Is that going to change rapidly or significantly in either Sydney or Melbourne and cause a bust?," he asked. 
"In Australia we have a modest rate of population growth driving modest increases in property demand. 
"We have had historically low levels of new construction keeping supply tight, especially in Sydney and Melbourne. 
"We continue to see high rates of urbanization, particularly in NSW and Victoria, as our population is attracted and retained by our largest cities given the employment opportunities and the amenities they provide.
"If you are prepared to believe basic rules of supply and demand do not apply to the Sydney and Melbourne property markets, and if you believe the population is about to go backwards overnight. 
"If you believe that we will be able to manufacture new land close to the heart of our busiest urban centres, if you believe that we are all about to flee to the country and there is a fleet of trains that could take us there and if you believe we all want to move our families into studio apartments and forego our houses, then you just might believe that a property bubble exists in Sydney and Melbourne.
"Property in Sydney and Melbourne is expensive, but it is not about to get any cheaper," he said.
Meanwhile the demand for fixed rate home loans ticked up a little during May, after the Reserve Bank’s decision to cut the cash rate to 2%.
Mortgage Choice found fixed rate home loans made up 18.17% of all loans written in May - up from 17.91% in April. Its chief executive John Flavell says the demand accompanies speculation that Australia was potentially now at the bottom of the rate cycle.   “Following last month’s rate cut, the domestic economy has started to shows signs of improvement. Consumer sentiment improved dramatically, while business conditions retraced some of the gains reported in March.”
 
</body></html>

No bubble says Mortgage Choice chief John Flavell

<html><body>
Sam Wagner, owner of chic fashion label Sambag, has sold her Woollahra home pre-auction.
Now with trademark interior designer Marco Meneguzzi features, she bought the five bedroom 1890s Victorian Italianate manor residence only two years ago 
With dark polished floors, a warm colour palette and restored original fireplaces, she secured a snappy sale.
The lower ground level comes with home theatre and gym.
The home sold through <a href="https://www.propertyobserver.com.au/https://www.dijones.com.au/properties-sold/listings/1169" target="_blank">Victoria Morish and Iggy Damiani of Di Jones Real Estate</a> who had listed it with a price guide of more than $6 million.
The five-bedroom home with a heated pool was bought in 2013 for $5.1 million from the NAB senior executive Drew Bradford and his wife Alison.
</body></html>

Sam Wagner bags a buyer of her Woollahra 1890s Italianate trophy home

<html><body><div class="cq-article-content-paras section">
The NSW government's new laws on property underquoting announced during the election campaign will toughen the penalties for agents found to be underquoting. The changes are billed as making it easier for prosecutions to be brought against those agents found to be engaging in underquoting and will allow for forfeiture of fees and commissions in addition to the existing financial penalty of up to $22,000. 
For example, the average property price in Sydney is $900,000. Based on that, a commission would be $18,000. Therefore, in addition to a fine of up to $22,000 a real estate agent could lose fees of $18,000. 
"In many cases, these reforms would see a doubling of the financial sanction that could be imposed on agents doing the wrong thing," Minister for Innovation and Better Regulation, Victor Dominello​ told the NSW Parliament this week ahead of introducing the bill.
The Government will establish a strict liability offence, which is in line with the laws that have been introduced in South Australia. 
The legislation will include stronger requirements for record-keeping and price representations, which will increase transparency for buyers. 
"As an additional measure, I have asked the Department of Fair Trading to appoint an assistant commissioner for real estate and property who will work with the industry to build confidence amongst buyers and sellers and increase professional standards among real estate agents."
</div></body></html>

Underquoting laws in NSW will step up required record keeping 

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

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News