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Singapore’s sovereign wealth fund GIC has sold $505 million worth of shares in the property giant GPT Group.
The block trade was executed last night through UBS at $3.81 per security, representing a 2.7% discount to the earlier trading price.
The selldown accounts for just shy of 8% of the GPT share register.
The Singaporean pension fund secured its GPT shares during the global financial crisis, so will take an estimated $400 million profit.
GIC first bought a 12% stake in 2008 for as little as 60 cents a share.
The Singapore investor is expected to retain exchangeable securities in GPT.
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Singapore's GIC sells $505 million in shares in property giant GPT Group

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A Fitzroy North property built in 2010 for Martin and Catherine Southwood, owners of furniture store Southwood, was passed in at weekend auction on a $1.2 million vendor bid.
It now has a $1,325,000 asking price.
The Zen Architects-designed three bedroom home with strong passive solar design attracted 2012 honours from the Australian Institute of Architects.
164 McKean Street was awarded an AIA commendation for sustainable architecture.
The London-bound couple had <a href="https://www.jelliscraig.com.au/property/FITZROY-NORTH-164-McKean-Street/6977887/" target="_blank">164 McKean Street</a> built in weatherboard and brick with rear deck.
Bev Adam of Jellis Craig had been expecting $1.3 million plus in her pre-auction advisory.
It traded at $567,000 in 2008.
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A $1.325 million asking price for Zen Architects design in Fitzroy North

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Goldman Sachs managing director Alastair Lucas spent $3.025 million to buy in East Melbourne.
<a href="https://www.realestateview.com.au/Real-Estate/110-vale-street-east-melbourne/Property-Details-sold-residential-6961925" target="_blank">Lynda Manor</a>, the Italianate Victorian terrace was the most expensive Melbourne house sold at auction on the weekend, according to the REIV.
The three-bedroom, 1889 Vale Street ­terrace sold through Caine Real Estate director Paul Caine who's price guidance was $2.5 million plus.
There were three bidders after the initial $2 million vendor bid on the 209 square metre property.
It last sold for $95,000 in 1979.
In March 2013 some $2.62 million was paid for the terrace two doors along, a five bedrooms, three bathroom terrace with s, the formal lounge with Karl Fender designed extension.
There was a clearance rate of 70% at weekend auction, compared to 69% last weekend and 70% on the same weekend last year.
There were 576 auctions reported to the REIV.
The final clearance rate hasn’t risen above 70% since the week ending 23 March 2014. 
The clearance rate is trending lower, however auction numbers remain high.The next two weekend is expected to have about 1,000 auctions each. 
This would push up the total number of auctions for the month of May to 3,700, which is higher than the long-term average, Enzo Raimondo from the REIV said.
THE DEAREST FIVE HOUSES
<ol>
<li>110 Vale Street, East Melbourne $3,025,000</li>
<li>95 Kooyongkoot Road, Hawthorn $2,775,000</li>
<li>29 Brazilia Drive, Glen Waverley $2,416,000</li>
<li>832 Esplanade, Mornington $1,900,000</li>
<li>9 Bella Vista Road, Glen Iris $1,900,000</li>
</ol>
THE CHEAPEST FIVE HOUSES
<ol>
<li>22 Oak Avenue, Doveton $269,000</li>
<li>37 Nightingale Drive, Werribee $280,000</li>
<li>21 Hughes Crescent, Dandenong North $325,500</li>
<li>10 Paringa Avenue, South Morang $347,500</li>
<li>39 Hendersons Road, Epping $350,000</li>
</ol>
THE DEAREST FIVE APARTMENTS
<ol>
<li>2/6 Wellington Crescent, East Melbourne $1,360,000</li>
<li>13A Rose Street, Highett $1,228,000</li>
<li>2/64 Burke Road, Malvern East $1,157,000</li>
<li>1/33 Myrniong Grove, Hawthorn East $1,150,000</li>
<li>50 Were Street, Brighton $1,135,000</li>
</ol>
THE FIVE CHEAPEST APARTMENTS
<ol>
<li>16/6 Garnet Street, Brunswick $229,500</li>
<li>7/116 Inkerman Street, St Kilda $235,000</li>
<li>8 Elinda Place, Reservoir $265,000</li>
<li>12/42 Middle Road, Maribyrnong $290,000</li>
<li>6/3 Denbigh Street, Frankston $295,000</li>
</ol>
Source: REIV 
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Goldman Sachs managing director Alastair Lucas spends $3.025 million in East Melbourne

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Stannix Park, one of 20 colonial stone farmhouses in the Hawkesbury Valley, remains for sale after its weekend auction.
Selena Mazuran, from the FBI Fashion College, is seeking offers over $2.2 million for her <a href="/news/selena-mazuran-of-fbi-fashion-college-lists-stannix-park-hawkesbury-valley-colonial-farmhouse">colonial stone farmhouse at Wilberforce</a>.
The convict-era homestead dates back to the pioneer settler William Hall and his wife, Dinah, who got a 1839 land grant.
Selena Mazuran bought it in 2009 for $1.225 million, then adding 2,300 square metres of adjoining land in 2012.
The 20-hectare lot on plains between Currency and Howes creeks, now comes with pool, separate studio and stables, and chapel at <a href="https://www.propertyobserver.com.au/https://www.bresicwhitney.com.au/#!/buy/8940" target="_blank">103 Stannix Park Lane</a>.
It was listed for weekend auction with $2.2 million plus hopes through BresicWhitney agent Walter Burfitt-Williams who passed it in on a $2.2 million vendor bid.
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Colonial Wilberforce farmhouse Stannix Park remains listed

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Reeler House, the Turramurra house designed by Ian Reeler of Reeler + Partridge and completed in 1985, has been listed for sale.
Set on a sloping, timbered site, it is a vertical house that has a central pinwheel design, with a central stair the main axis of the design. 
It rises a metre to each level and on each corner is a landing which leads to the rooms on that level.
Using the principles of triangular geometry, the result is a expansive house having 16 rooms over 10 levels at <a href="https://www.modernhouse.co/listings/reeler-house/" target="_blank">34 Finlay Road</a>.
There is 380 square metres of internal living space on the 1,721 square metre block.
The origins of the Reeler House had begun in 1975 when the architect builder, Ian and his wife, Patricia acquired a vacant lot and built a home on Holmes Avenue overlooking the picturesque bushland where the Reeler House is sited.
Their Holmes Avenue house won the Sun-Herald House of the Year in its category for a multiple-level gabled and skillion-roofed house with fawn-coloured brick and timber construction palette. 
Unseen from the street, the Finlay Road house which overlooks a gully was built with the assistance of engineer, John Connell &amp; Associates and consulting surveyors, Proust &amp; Gardner.
It featured as House of the Year in the Home Beautiful magazine in 1986.
 It has also featured in House and Garden, Architecture Australia and Wood One, a Japanese publication.
"The result today is a house that is highly crafted, beautifully built and offers a flexible use of space for a family today, just as the architect originally intended for his family almost 30 years ago," Marcus Lloyd-Jones, the Modern House listing agent said.
No public price guidance has been given.
Modern House is a specialist estate agency for architect-designed residences.
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Reeler House, the 1986 Home Beautiful house of the year, listed

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Canberra dwelling values dropped 1.1% last month, the weakest property market among Australia's capital cities.
It also ranked the weakest in dwelling values across the capitals during the past three month, with a 0.2% quarterly gain against a combined 2.6% gain across all capitals.
It also ranked as the weakest over the past year.
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Source: RP Data-Rismark Index
With an estimated 40% of the country's public service located in Canberra, the city is understandably on edge on budget eve.
BIS Shrapnel economist Angie Zigomanis forecasts cuts will have a very negative influence on the Canberra/ACT property market for the next few years, including investors who will be hit by departing tenants in its sizeable rental market. 
There were points to the current emerging scenario last July when the then Shadow Treasurer, Joe Hockey suggested that then might be a good time to sell Canberra housing, noting that home prices could be pushed lower by a Coalition government. 
“There is a golden rule for real estate in Canberra – you buy Liberal and you sell Labor,” he said.
He did not specify that this result would be due to cuts to the public sector that were being promised by then Opposition leader Tony Abbott after the September election.
House prices in the territory eased when John Howard made big cuts to the public service in his first term of government, falling by around 7% over two years on the back of the lower employment and confidence.
Property Observer uncovered a dozen resales during the early years of the Howard government which were lower than their prior purchases, many of which were bought during the Hawke-Keating recession. John Howard's government was elected in March 1996 with the first Peter Costello budget delivered in August 1996.
12 property sales in Canberra in 1997 showing price drops:
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<ul>
<li>3 Mialli Place, O'Malley sold in 1995 for $561,500 and resold in 1997 for $520,000.</li>
<li>27 Mawson Drive, Mawson sold in 1993 for $402,000 and resold in 1997 for $379,000.</li>
<li>1 Blaxland Crescent, Griffiths sold in 1994 for $345,000 and resold in 1997 at $308,000.</li>
<li>17 Harkness Street, Monash sold in 1992 for $165,550 and resold in 1997 for $155,000.</li>
<li>8 Hedley Street, Hackett sold in 1992 for $177,000 and resold in 1997 for $173,500.</li>
<li>7 Discovery Street, Red Hill sold in 1991 for $202,500 and resold in 1997 for $189,000.</li>
<li>11 Traynor Court, Melba sold in 1994 for $149,950 and resold in 1997 for $143,500.</li>
<li>8 Hunter Street, Yarralumba sold in 1994 for $607,500 and resold in 1997 for $605,000.</li>
<li>39 Jackie Howe Crescent, Macarthur sold in 1992 for $285,000 and resold in 1997 for $275,000.</li>
<li>19 Novar Street, Yarralumba sold in 1993 for $290,000 and resold in 1997 for $278,000.</li>
<li>21 Beagle Street, Red Hill sold in 1992 for $385,000 and resold in 1997 for $330,000.</li>
<li>55 Archibald Street, Lyneham sold in 1992 for $152,500 and resold in 1997 for $143,500.</li>
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Of course the silly spin this year is that politicians are expected to share the burden, no doubt arising from last October when the departing former Prime Minister Kevin Rudd joined the loss takers.
The former Prime Minister Kevin Rudd and wife Therese Rein paid $2.175 million for their home in leafy Yarralumla, Canberra in 2010.
Listed for sale at $2.25 million through the Peter Blackshaw agency in May, it sold at $2 million.
Set in the prestige suburb behind electric gates, with double lock up car accommodation, the house (pictured below) was described as sophisticated and luxurious.
{yoogallery src=[images/stories/2013/05/may31rudd]}
The contemporary Mueller Street house was bought after departing The Lodge so as their son, Marcus, could finish his schooling.
The five-bedroom, four bathroom house is set on 936 square metres which traded at $778,000 in 2005.
Back in 2011 Canberra was within cooee of again matching Sydney’s median house price, according to the RP Data-Rismark index.\
The 2011 gap for houses was $12,625, with Sydney’s house median at $561,625 and Canberra’s house median at $549,000.
Sydney's median house price is now at $802,000, and Canberra house price median at $560,000, so the gap is now $242,000.
Much of Canberra's then strength came as household incomes in Canberra are among the highest in the nation.
Canberra’s average equivalised disposable weekly household income was put at $1,101 in recent ABS data - about 30% above the national average.
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Howard government era Canberra property price falls tipped in Abbott budget fallout

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The historic Mount Macedon estate, Alton was passed in on a $5 million vendor bid at its weekend auction.
The property known for its botanic gardens, was offered by vendors mining executive Eduard Eshuys and his wife, Marjorie who restored its 1870s-built Venetian Gothic house.
Gardens make up four hectares of<a href="https://www.alton-mountmacedon.com" target="_blank"> the 10.5-hectare holding</a>.
It also has a small farm and an 1870s-built Venetian Gothic home, known as the gingerbread house.
Established by Sir George Verdon, at various times Victoria’s treasurer and Agent General, it was subsequently owned by Judge Hood and then by George Nicholas, the co-founder of ASPRO, this property has been always been prominent in the minds of Victorians.
The Eshuys' bought the estate in 1997 from Coles Myer-owned ­company Silver Meadows.
Its listing agent Jock Langley of Abercromby, who had the property in conjunction with Lindsay Hill Real Estate, Mount Macedon, had been issuing price guidance that other sales in the area had averaged about $380,000 per acre.
The property at 239 Alton Road, Mount Macedon, Alton was marketed as among the finest hill station estates. The hill stations concept comes from are high-altitude towns in India used, especially by European colonialists, as a place of refuge from the summer heat.
The garden includes 24 National Trust recognised trees.
The road's last sale was $3.25 million when the seven hectare estate, the 1870s <a href="https://www.realestate.com.au/property-house-vic-mount+macedon-112416011" target="_blank">Duncraggan</a> sold last June.
The highest sale for the district was when Fosters brewery group secured $8.17 million in 2005 when the Gribbles Group director, Wallace Cameron bought the 8.8 hectare Sefton estate at Mount Macedon.
Built by <a href="https://adb.anu.edu.au/biography/baillieu-william-lawrence-willie-5099" target="_blank">William (Willie) Lawrence Baillieu as a summer retreat early in the century</a>, the property included a nine-tee golf course, tennis court and croquet lawn.
It was offered at $12 million without success in 2010. 
It has an <a href="https://www.slv.vic.gov.au/pictoria/gid/slv-pic-aab45596" target="_blank">English garden</a> influenced by noted Royal Botanic Gardens directors Baron von Mueller and W. R. Guilfoyle.
<a href="https://www.fionabarkerdesign.com.au/folio/residential/sefton/" target="_blank">The Sefton interiors were done by Fiona Barker Design</a>.
Mount Macedon's first $1 million plus acreage sold in the late 1980s.
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Alton, 1870s Mount Macedon garden estate passed in

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The Gothic Revival Banyule at Heidelberg has been listed with a $5.5 million asking price, through the Jellis Craig agency.
The heritage-protected 1840s homestead - one of the oldest remaining residences in Victoria - once sat on a 266 hectare holding.
The Buckingham Drive homestead <a href="https://banyulehomesteadmatters.com/the-shrinking-banyule-estate-2/" target="_blank">now on a 9,085 square metre holding</a> was designed by architect John Gill for the English-born pioneer Joseph Hawdon in 1846 whose family retained the home until the 1860s.
The Gothic style was unusual for Melbourne, but more popular in Sydney.
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<a href="https://www.jelliscraig.com.au/property/HEIDELBERG-60-74-Buckingham-Drive/6942087/" target="_blank">Jellis Craig Balwyn agent Iain Carmichael</a> undertook an expressions of interest that closed May 7.
Set behind hedging, with wetland views to the Dandenong Ranges, it has an eight bedroom, four bathroom mansion.
There's a stately reception foyer, grand-scale dining, huge ballroom and music room.
Built before the discovery of gold, there are a handful of other buildings in Melbourne of this age, but many were originally small cottages that were extended later to become large homes.
But Banyule Homestead was intended to be a grand mansion at Heidelberg which at the time was a desirable location for the Port Phillip gentry.
In 1974 Banyule Homestead was purchased from the Simpson family for a below valuation $190,000 price by the Hamer state government, then opened as an annex by the National Gallery of Victoria.
The homestead was sold by the Kennett state government in 1995 for $815,000 to the current vendors.
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Banyule homestead, Heidelberg gets $5.5 million asking price

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The young NAB dealing desk broker arrested in the alleged ABS insider trading case has been revealed as the investor buyer of one of the four apartments sold in the recent Channel 9 The Block series.
It was the luxury apartment decorated by the runner-up Adelaide twins, Alisa and Lysandra who were reduced to tears when their apartment sold at its 8 April auction for $2.375 million —<a href="https://www.dinglepartners.com.au/index.cfm?pageCall=property&amp;propertyID=2618525" target="_blank"> a massive $616,000 above the reserve of $1.759 million</a>.
<img src="https://cdn.portplus.com.au/742/2649068/20058186_640x.jpg" alt="3/47 O'Grady Street, ALBERT PARK - Rental - Dingle Partners" hspace="" vspace="" width="640" name="thePic">
NAB broker Lukas Kamay, who turned 26 on Anzac Day, has been accused of using insider Australian Bureau of Statistics information to make $7 million-plus by trading in the Australian dollar online over the past 10 months.
He was arrested on Friday after a joint investigation by the Australian Federal Police and the Australian Securities and Investments Commission.
Police allege Kamay, of Melbourne, used confidential ABS statistics to trade online, betting against foreign exchange derivative movements in the Australian dollar after allegedly being in receipt of national economic, retail trade and labour-force statistics before the normal 11.30am release.
After it was alleged Mr Kamay profited between August 2013 and May this year with around $7 million made from the trades, police froze assets including a $500,000 property, a $15,000 car - and $6.5 million in bank accounts.
<a href="https://ow.ly/i/5wuz5/original" target="_blank" style="line-height: 1.3em;">The Sunday Herald Sun have uncovered Kamay's $2,375,000 purchase</a>, which Property Observer believes along with the other sales in the block, has yet to settle.
The three bedroom apartment was marketed for Alisa and Lysandra, the former SA police officers, by the Melbourne CBD agents, Anton Wongtrakun and Rochelle Wilson from Dingle Partners.
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Property Observer gleans it is now likely that settlement of apartment 3 at 47 O'Grady Street will not occur as expected by the production company, Watercress Productions with the 10% deposit likely to be subject to legal proceedings.
The twins were not the overall winners, so it will not affect the final result of the television renovation gameshow, and in all likelihood it will not affect their payout as the outcome of the auction night are likely to be honoured by Watercress and Channel 9. 
There were six or seven competitive bidders on the apartment, according to <a href="/expert-insights/buying/it-was-our-last-throw-of-the-dice-bidding-and-winning-at-the-block-fans-v-faves-auctions">one attending buyers' agent</a>, Frank Valentic who was there for an intending buyer from Horsham. It appeared to be knocked down to another buyers' agent. The exact intended ownership of the apartment has yet to determined, according to News Ltd, as the ASIC and the AFP continue their investigation. It is possible the purchase was made through one of two companies directed by Kamay, L.A. Promotions Pty Ltd or Lukam Pty Ltd which was established in April this year.
There does not yet appear to be any caveat taken, as yet, over the asset by the AFP-led Criminal Assets Confiscation Taskforce, with events only coming to a head yesterday.
Kamay, who appeared briefly in court in Melbourne yesterday afternoon, arranged $500,000 in bail, agreeing to surrender his passport, and live with his parents at their 1000 square metre property in the Melbourne suburb of Eaglemont. He is due back in court on August 24 for a committal mention.
It appears Kamay secured the apartment as an investment property as <a href="https://www.dinglepartners.com.au/index.cfm?pagecall=property&amp;propertyID=2649068" target="_blank">Dingle Partners have it listed with a $2,500 weekly asking price</a>, reflecting a gross 5.4% rental yield. 
It is advertised as available for rent from 26 May, presumably on its intended settlement. 
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<div class="clearBoth">FOR RENT    $2500 per week</div>
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<div>FURNISHED HIGH END LOFT APARTMENT WITH A QUINTESSENTIAL MANHATTAN FEEL</div>
<div>3/ 47 O'GRADY STREET ALBERT PARK</div>
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Available 26 May 2014
Bond $15,000
Rent per calendar month $10,863
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The apartment was marketed as a cutting edge transformation over three state-of-the-art floors."The international standard warehouse inspired apartment fuses innovative interior design with bespoke style to create a spectacular inner city abode."
The four apartments were recently installed into a red brick former cinema turned office warehouse that was offloaded <a href="/news"></a>by a company associated with <a href="/expert-insights/investing/the-block-albert-park-warehouse-price-appreciation-in-history">Lloyd Williams</a>, the Melbourne property developer.
<a href="/news/substance-over-style-as-chantelle-and-steve-win-the-block-2014-fans-v-faves">The Block Albert Park results</a> were as follows:
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<li>Steve and Chantelle, 1/47 O’Grady: $2.47 million ($636,000 above the adjusted reserve)</li>
<li>Alisa and Lysandra, 3/47 O’Grady: $2.375 million ($616,000 above the adjusted reserve)</li>
<li>Kyal and Kara, 2/47 O’Grady: $2.44 million ($567,250 above the adjusted reserve)</li>
<li>Brad and Dale, 4/47 O’Grady: $2.31 million ($507,250 above the adjusted reserve)</li>
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Alleged ABS insider trader spent $2.3 million on The Block Albert Park purchase - sale now in doubt

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Sydney now has 170 suburbs with a $1 million median house price, according to Australian Property Monitors.
The figure comes from sales data over the six months to March.
<a href="/news/sydneys-million-plus-median-suburbs-pass-the-century-as-michael-slater-cements-avalons-place">In a similar survey</a> covering the six months to September it was 123 suburbs.
There are around 600 suburbs across Sydney.
APM senior economist Dr Andrew Wilson told 2UE that the some of newest entrants were from Sydney's upper north shore.
He said the UNS region was the fifth of eight regions that now sat within the $1 million plus median house price range.
The other regions already with $1 million medians include the city and east, the lower north shore, the northern beaches, and the inner west which was included last year.
There had been growth of 23% over the past year on the upper north shore with middle-market changeover buyers seen as the driving force behind the strong result.
The Ku-ring-gai municipality median sits at $1.3 million after strong growth in the past year.
The new entrants include West Pymble where the house median now sits at $1.07 million with 19% annual growth.
North Turramurra sits at $1.06 million with 13% annual growth.
APM includes the Hills district within the UNS regional count, though Dr Wilson indicated it was the intention of the data group to separate the data at some point in the future.
"These are geographical descriptors we have used for 30 years.
"We are redefining the areas," he said.
"And we are changing the data going back in the house price time series."
Chatswood to Hornsby would be the typical upper north shore reference.
West of Epping could be possibly deemed to be the start of the north-west corridor.
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Sydney now has 170 suburbs with $1 million median house price: APM

<a href="https://www.apartments.com.au/developers/abadeen">Abadeen</a> and <a href="https://www.apartments.com.au/developers/perifa">PERIFA</a> have celebrated the topping out of <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf,</a> marking a significant milestone in the delivery of one of Syd​ney's most anticipated waterfront communities.

Located on Sydney's harbourfront at <a href="https://www.apartments.com.au/developments/putney-nsw-2112">Putney</a>, the project has now reached its highest structural point, with construction progressing strongly towards completion in 2027. 
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The milestone was celebrated on-site with project partners Phoenix Property Investors, Mitsubishi Estate Asia, Versatile Construction, <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, consultants and stakeholders, to recognise the collective effort behind the transformation of the historic waterfront site into a vibrant new residential, marina and lifestyle destination.

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<a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> will deliver a mix of waterfront residences and terraces, complemented by a private 36-berth marina, waterfront dining opportunities and a revitalised foreshore designed to reconnect the community with the river's edge. 
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Abadeen Executive Chairman and Founder Justin Brown said the project represented a rare opportunity to create the next chapter in Sydn​ey's long history of successful waterfront precincts. 
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"Throughout Sydney, some of the city's most sought-after addresses have emerged from carefully considered waterfront precincts such as Woolloom​ooloo Wharf, Walsh Bay and Breakfast Point," Brown said.

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"What makes these places so successful is that they become much more than residential developments," Brown said.

"They bring together homes, hospitality, marina facilities, public spaces and a strong sense of community in locations where future supply is incredibly limited."

Brown has long described absolute waterfront land in Sy​dney as "finite."

"Once these opportunities are developed, they are rarely replicated. That's why Syd​ney's waterfront precincts have consistently demonstrated strong demand and long-term value growth over many decades. 
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"<a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> is one of the few remaining opportunities to secure a residence within a masterplanned waterfront community that combines direct water access, marina ownership opportunities and a genuine village lifestyle just moments from the Sy​dney CBD."

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PERIFA Founder and Managing Director Fabrizio Perilli said the project reflected a shared commitment to delivering exceptional places that create long-term value for residents and the broader community. 
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"The topping out milestone is a significant achievement for the Versatile Group and a testament to the collaboration between all project partners, consultants and contractors involved," Perilli said. 
&nbsp; 
"Beyond the residences themselves, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> will establish a new waterfront destination that celebrates the history, character and lifestyle of this unique location while creating a lasting legacy for future generations."

[smartcode_project:default project_id=13962 project_image_fid=291195] 
&nbsp; 
Construction is being delivered by <a href="https://www.apartments.com.au/builders/versatile">Versatile Construction</a>, with structural works now substantially complete across the precinct. Attention will progressively shift to the construction of the waterview terraces, apartment façades, services and interior fit-out works over the coming months. 
&nbsp; 
With limited residences and marina berths remaining, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> continues to attract strong interest from owner occupiers and downsizers seeking a premium waterfront lifestyle within close proximity to Putne​y Village, Rh​odes, Top Ry​de and the Syd​ney CBD. 
&nbsp; 
As one of the last opportunities to secure a residence within a new masterplanned waterfront community on Sy​dney Harbour, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> is expected to remain a highly sought-after address for years to come.

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Joel Robinson

Abadeen, PERIFA, top out Putney Wharf harbourfront precinct

Kew has long been regarded as one of Melbourne's premier residential suburbs. It's a location defined by its grand period homes, leafy streets and some of the city's most prestigious schools, yet it has often sat just outside the spotlight cast on neighbouring Hawthorn and Camberwell.

Increasingly, however, buyers are recognising that Kew offers much of what draws people to those suburbs, with a quieter residential setting, exceptional amenity and long-term owner-occupier appeal.

Within a few minutes' walk, residents can access Kew Junction, one of Melbourne's most established village centres. Cafés, bakeries, restaurants, supermarkets, boutique retailers and everyday services are all on the doorstep, with local favourites including Centonove, Adeney Milk Bar Cafe, and Frank &amp; Harri creating the type of walkable lifestyle that has become increasingly difficult to find in Melbourne's inner east. Beyond the immediate neighbourhood, Glenferrie Road's renowned shopping and dining precinct in Hawthorn and the retail, dining and entertainment offerings of Camberwell Junction are both just a short drive or tram ride away.

The suburb is equally well connected. Tram routes 48 and 109 provide direct access to the CBD, while High Street and Cotham Road connect residents to the wider inner east.&nbsp;Nearby access to the Eastern Freeway also places the Yarra Valley, Mornington Peninsula and Melbourne Airport within easy reach, adding another layer of convenience for weekend travel.&nbsp;It's a rare combination of connectivity and tranquillity, where quiet residential streets sit just moments from some of Melbourne's most established shopping and lifestyle precincts.

For families, Kew remains one of Melbourne's most tightly held addresses. Carey Baptist Grammar School, Xavier College, Methodist Ladies' College, Trinity Grammar, Ruyton Girls' School and Genazzano FCJ College are all nearby, while the Yarra River parklands, walking trails and sporting clubs provide another layer of lifestyle appeal.

It's within this established pocket that developer Ricdanic is delivering <a href="https://www.apartments.com.au/new-apartments/wimba-ave-kew-9-11-wimba-avenue-kew-vic-3101">Wimba Ave</a>, a boutique collection of just 13 residences across two buildings named after its location on the tree-lined Wimba Avenue,&nbsp;within one of Kew's most prestigious pockets where homes have been known to sell up to and above $8 million.

[smartcode_project:default project_id=140755 project_image_fid=354809]

The residences prioritise the space that buyers are increasingly searching for but struggling to find in established suburbs. Living areas extend beyond five metres in width, ceiling heights range from three to five metres, and apartments open onto private gardens averaging around 125 sqm. Selected residences also feature balconies of approximately 60 sqm, while premium inclusions include Miele appliances, double-glazed windows, EV readiness, fully electric systems and a 7.2 NatHERS energy rating.

Architect Chris Idle says opportunities to deliver homes of this scale within established suburbs have become increasingly uncommon.

"There are very few opportunities to do these kinds of developments in leafy, established suburbs," he says. "To get this level of amenity, natural light, and architectural freedom in such a setting is extremely rare."

[smartcode_project:default project_id=140755 project_image_fid=366267]

The architecture draws on Kew's established character through the use of handmade Krause bricks, while landscaping by John Patrick introduces 23 plant species, including nine native varieties, creating an environment which focuses just as much on nature as it does the building.

Construction on Wimba Ave is well underway by renowned high-end builder Sinjen, with completion expected in late 2027. Prices start from $2.22 million.

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The enduring appeal of Kew's tree-lined streets and village lifestyle

"For me, it's the location." That was the first thing Chris pointed to when reflecting on why he and his wife Marita decided to purchase at Candela Ivanhoe, the under-construction new apartment development by Salter Brothers in the heart of the north-eastern M​elb​ourne​ suburb. ​

"We've lived here before… everything is here," Chris said.

"Our doctor is around the corner, there's dentists, pilates, everything we need, restaurants, fast food places, two train stations, Ivanhoe and Darebin, both in walking distance. You don't need anything else."

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Just 10 kilometres from Melbo​urn​e's CBD, Ivanhoe combines direct city connectivity with the amenity of an established village community. Residents have access to highly regarded schools, expansive parklands, public transport, and a thriving retail and hospitality precinct centred around Upper Heidelberg Road, all within a neighbourhood that has retained its leafy character despite its proximity to the city.

<a href="https://www.apartments.com.au/new-apartments/candela-ivanhoe-40-upper-heidelberg-road-ivanhoe-vic-3079">Candela Ivanhoe</a> sits within the heart of this established landscape, positioned just moments from Ivanhoe Village and within walking distance of many of the suburb's most sought-after amenities.

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From Candela, residents can access cafés, grocers, wine bars, restaurants and essential services on foot, while Ivanhoe Station and Darebin Station provide direct connectivity across Mel​bour​ne. The development is also surrounded by some of the suburb's best-known lifestyle destinations, including Pinkie, Laurent, Enni, Docasa and Woodfire Pizza e Cucina, alongside Ivanhoe Plaza, Woolworths, pharmacies and specialty retailers.

Green space is another defining feature of the suburb. Darebin Parklands, Ivanhoe Park, Nellie Ibbot Park and the Yarra River trail network provide extensive opportunities for recreation, while Ivanhoe Golf Course and Ivanhoe Tennis Club continue to underpin the area's long-established lifestyle appeal.

The suburb's education offering further strengthens demand. Ivanhoe Grammar School, Ivanhoe Girls' Grammar School, Mary Immaculate Primary School and Ivanhoe Primary School have helped establish the area as one of Melbou​​rne's most sought-after schooling precincts, attracting families and downsizers alike who want to remain connected to the area.

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While location was the priority for Marita and Chris, the project itself also needed to meet their expectations.

"Whilst location was paramount, I was also looking at design of the environment and Candela ticked every box," Marita said.

"We're just thrilled with our choice."

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Developed by <a href="https://www.apartments.com.au/developers/salter-brothers">Salter Brothers</a>, Candela Ivanhoe has been designed to complement its village setting, with an emphasis on generous floorplans, natural light and practical everyday living.

Residents will have access to a range of shared amenities, including a communal rooftop garden and dedicated residential lounge, complemented by a ground-floor café and lifestyle wellbeing centre, helping foster the sense of community already emerging among future owners.

That approach has resonated strongly with the market. More than 90 per cent of purchasers at Candela Ivanhoe are owner-occupiers, with buyers ranging from downsizers and second-home buyers to young families and first home buyers, creating a genuinely multi-generational community of grandparents, parents and children. It reflects a broader shift across Melbo​​urne's apartment market, where buyers are increasingly prioritising neighbourhood quality, lifestyle amenity and long-term liveability.

Currently under construction by Ironside, Candela Ivanhoe comprises 58 apartments. Candela Ivanhoe is scheduled for completion in the coming months, and residents can move in from September. One to four bedroom residences, prices from $649,000 and limited opportunities remaining.

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Location and lifestyle drive demand at Candela Ivanhoe

As apartment buyers increasingly look beyond the four walls of their residence, the quality and depth of shared amenity has become a defining factor in how developments are designed and experienced, particularly in the high-rise, new apartment development space.

In Southbank, where high-density living continues to evolve, developers are placing greater emphasis on creating environments that support wellbeing, connection, and convenience as part of everyday life.

That approach sits at the heart of <a href="https://www.apartments.com.au/new-apartments/aura-at-melbourne-square-7-hoff-boulevard-southbank-vic-3006">AURA</a>, the latest residential tower in <a href="https://www.apartments.com.au/developers/osk-property">OSK Property</a>’s $3.5 billion Melbourne Square precinct. Rising 67 storeys above Hoff Boulevard, the 673-apartment development has been conceived around what OSK describes as a “vertical wellness ecosystem”, a layered collection of amenities that extends throughout the building rather than being confined to a single podium level.

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The amenity offering begins on the seventh level within the AURA Club, a dedicated resident hub focused on health, relaxation, and daily convenience. Here, residents will have access to an indoor swimming pool, cold plunge, spa, sauna, and steam room, alongside a fully equipped gym, reformer Pilates studio, and yoga room.

The wellness facilities are complemented by a range of spaces that acknowledge the changing ways people live and work. Work-from-home lounges and co-working areas sit alongside a library, music room, games room, cinema facilities, and open-air terrace spaces, providing residents with flexible environments that can adapt throughout the day.

[smartcode_project:default project_id=151921 project_image_fid=367468]

Beyond the internal amenity, AURA introduces a series of Japanese-inspired gardens that form a quieter counterpoint to the tower’s social spaces.

Landscaped retreats feature curated outdoor dining, tranquil courtyard seating, fire pit, and a tea house pavilion. Rather than functioning as simple recreational areas, the gardens have been designed as places for reflection and informal gathering, drawing on principles of balance, nature, and calm that underpin the project's broader design philosophy.

[smartcode_project:default project_id=151921 project_image_fid=367810]

The social amenity continues to evolve as residents move higher through the building. Levels 49 and 50 house the Meridian Club, where a lounge bar, conservatory spaces, and private dining rooms take advantage of elevated city views. At the summit of the tower, the exclusive Cumulus Club spans Levels 66 and 67, offering additional lounges, private dining, and meditation and treatment rooms positioned above Melbourne’s skyline.

For OSK Property, the extensive amenity offering reflects a broader focus on wellbeing as a core component of apartment living rather than an added feature.

“Aura stands tall as an exemplar of holistic wellness – its focus on social, physical and mental health culminate in a building that is calming, restorative and relaxing, where residents will have their own sanctuary within the well-connected and sought-after Southbank,” says OSK Property CEO Chong Boon Woon.

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AURA’s amenity strategy extends beyond the tower itself through its integration with the wider Melbourne Square precinct.

Residents will have direct access to Kennedy Park, Southbank’s 3,745 sqm landscaped public park, alongside a full-line Woolworths supermarket, childcare centre, hospitality venues, and approximately 1,600 sqm of additional retail planned within AURA’s lower levels. Together, these elements create a highly connected residential environment where daily needs, recreation, and wellness are woven into the fabric of the community.

[smartcode_project:default project_id=151921 project_image_fid=370253]

As Melbourne’s apartment market continues to mature, developments are increasingly judged by the lifestyle they provide beyond individual residences.

Through its combination of wellness facilities, landscaped retreats, social clubs, and precinct-wide amenity, AURA represents a shift toward a more comprehensive model of vertical living, one where shared spaces play as significant a role as the homes themselves.

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AURA elevates amenity living at Melbourne Square

Builder-developer Scion is the latest to target Sydney's booming Hills Showground Metro precinct, filing plans for more than 100 apartments within walking distance of the station.

Scion has lodged a concurrent rezoning and State Significant Development Application for <a href="https://www.apartments.com.au/new-apartments/27-33-middleton-avenue-castle-hill-nsw-2154">27–33 Middleton Avenue</a>, where it plans to replace four existing homes with an 11 and 14-storey mixed-use development comprising 109 apartments, six affordable housing dwellings, and a ground-floor café.

Designed by BHK Architects, the proposal includes three levels of basement parking with 174 spaces, more than 1,200 sqm of communal open space, and extensive landscaping across the 3,791 sqm site.

The development has been designed as two buildings connected by a recessed wintergarden spine, with the 14-storey building positioned to the south and the 11-storey building to the north.

<img alt="Scion" data-entity-type="file" data-entity-uuid="64dc359d-736b-43b8-87a8-70a8285cab47" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-25%20at%208.47.01%E2%80%AFPM.png?VersionId=PXh.m8id_aevBPHEckPf88wQ2RQThPos" />

The apartment mix has been weighted towards owner-occupiers, with 13 one-bedroom apartments, 55 two-bedroom residences, 31 three-bedroom apartments, six three-bedroom lofts, and four four-bedroom homes. Six apartments will be dedicated as affordable housing in line with the NSW Housing SEPP.

According to the Architectural Design Report by BKH, the proposal seeks to create "a place-responsive architecture" inspired by the natural landscape surrounding Cattai Creek, while strengthening the public domain through landscaping, active frontages and a neighbourhood café.

Atlas Urban, in its Urban Design Report, says the proposal takes a different approach to increasing density around Hills Showground Station by favouring a more slender, vertically articulated built form over a conventional mid-rise outcome. The report argues this allows for greater deep soil planting, improved solar access and a better public domain outcome, while still delivering additional housing close to rapid public transport.

The site sits around 500 metres from Hills Showground Metro Station, within a precinct earmarked for significant residential intensification following the opening of the Sydney Metro Northwest line. Planning documents accompanying the application note that Greater Sydney's population has grown by more than one million people since planning for the precinct first began, reinforcing the need to accelerate housing delivery around existing transport infrastructure.

Scion is expanding its development pipeline which also includes <a href="https://www.apartments.com.au/new-apartments/chatham-west-ryde-2-6-chatham-road-west-ryde-nsw-2114">Chatham in West Ryde</a>, 62 apartments which are approaching completion. They also have a State Significant Development Application with the NSW Government's Housing Delivery Authority for <a href="https://www.apartments.com.au/new-apartments/96-anzac-avenue-west-ryde-nsw-2114">145 apartments on Anzac Avenue</a>, also in West Ryde.

Jonathan Chancellor

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