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AMP Capital Wholesale Office Fund has taken full control of NAB house in Sydney's CBD announcing today it has acquired the remaining 25% interest in the A-grade building.
Developed by AMP Capital, 255 George Street has been the Sydney headquarters for National Australia Bank since its completion and NAB remains the building’s anchor tenant today.
AMP Capital Wholesale Office Fund Manager Nick McGrath said the acquisition further strengthens the AWOF portfolio.
In recent years, the owners have invested over $50 million in a transformational upgrade of the asset, setting a new standard of sustainability for existing buildings in the CBD. The building today boasts a 5-star NABERS rating.
“As full owner of the building, we believe we can continue to extract value from this prime asset for investors over the long-term”, McGrath said.  
AWOF is an open-ended unlisted trust investing in high-quality office buildings in Australia and New Zealand. As of 31 December, 2013, its assets stood at $2.9 billion.
<a href="mailto:news@propertyobserver.com.au" target="_blank">news@propertyobserver.com.au</a>
                  
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AMP Capital take full control of NAB House in Sydney

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He is known as the Wizard of Omaha and considered to be one of the world's most successful investors.
And for thousands of investors around the world, Warren Buffett has become their investment guru. 
Every year, through his letter to Berkshire-Hathaway shareholders, the legendary investor offers his wisdom on anything from his rules for investing in stocks to the US and global economies or even Bitcoin. 
This week, Buffett he again released his highly anticipated annual shareholder newsletter and this time, front and centre of his letter was real estate investment.
Specifically, he reflected on two small properties that he purchased long ago and offered some insights on real estate investment.
One purchase involved a 400 hectare farm in Nebraska, which cost him $280,000 in 1986. 
The other purchase, which he made with a small group of investors a few years later, was a retail property in New York. 
The common theme in these tales was that he purchased both assets after property collapses. 
In his letter, Buffett says he cites the tales to "illustrate certain fundamentals of investing". 
He then goes on to highlight his five tips for real estate investing. 
They are:
<img style="float: left;" alt="number-1" height="30" width="20" src="/images/stories/2014/03/05/number-1.jpg">You don't need to be an expert in order to achieve satisfactory investment returns.  But if you aren’t, you must recognize your limitations and follow a course certain to work reasonably well. Keep things simple and don’t swing for the fences. When promised quick profits, respond with a quick “no.”
<img style="float: left;" alt="number-2" height="30" width="26" src="/images/stories/2014/03/05/number-2.jpg">Focus on the future productivity of the asset you are considering. If you don’t feel comfortable making a rough estimate of the asset’s future earnings, just forget it and move on. No one has the ability to evaluate every investment possibility. But omniscience isn’t necessary; you only need to understand the actions you undertake.
<img style="float: left;" alt="number-3" height="30" width="22" src="/images/stories/2014/03/05/number-3.jpg">If you instead focus on the prospective price change of a contemplated purchase, you are speculating. There is nothing improper about that. I know, however, that I am unable to speculate successfully, and I am sceptical of those who claim sustained success at doing so. Half of all coin-flippers will win their first toss; none of those winners has an expectation of profit if he continues to play the game. And the fact that a given asset has appreciated in the recent past is never a reason to buy it.
<img style="float: left;" alt="number-4" height="30" width="22" src="/images/stories/2014/03/05/number-4.jpg">With my two small investments, I thought only of what the properties would produce and cared not at all about their daily valuations. Games are won by players who focus on the playing field – not by those whose eyes are glued to the scoreboard. If you can enjoy Saturdays and Sundays without looking at stock prices, give it a try on weekdays.
<img style="float: left;" alt="number-5" height="30" width="22" src="/images/stories/2014/03/05/number-5.jpg">Forming macro opinions or listening to the macro or market predictions of others is a waste of time. Indeed, it is dangerous because it may blur your vision of the facts that are truly important. (When I hear TV commentators glibly opine on what the market will do next, I am reminded of Mickey Mantle’s scathing comment: “You don’t know how easy this game is until you get into that broadcasting booth.”
<a target="_blank" href="mailto:news@propertyobserver.com.au">news@propertyobserver.com.au</a>
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Warren Buffett's five tips for investing in real estate

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<img style="display: block; margin-left: auto; margin-right: auto;" alt="CBRE_-_Pxrl_Edit" height="76" width="200" src="/images/stories/2014/03/03/CBRE_-_Pxrl_Edit.jpg">
Agent: Phil Schell<img style="float: right;" alt="schell-profile" height="200" width="150" src="/images/stories/2014/03/03/schell-profile.jpg">
Position: Director
Company: CBRE Agribusiness
Office Location: Adelaide
How long have you been in the industry? Seven and a half  years in real estate practices and 30 years as an owner/operator in farming, South Australia.
What’s happening in the area you specialise in?
In the first quarter of 2014, activity in the agricultural sector has been warming more towards private vendors and not distressed transactions. Our South Australian team had anextremely successful 2013, which saw 22 individual properties sell in South Australia (local sales), with a gross realisation of more than $32 million.
Transactions take time and that won’t change this year. Generally six months is a typical rural transactional period. My business model includes the local (SA) market and extends to working and assisting my interstate colleagues. I work with an amazing and skilled national team on projects and listings in sectors including grain, livestock, horticulture, viticulture, northern cattle, dairy and forestry.
Confidence from the corporate sector increased late last year,with excellent signs of continuing in 2014. I feel that the small and medium rural business owners are expanding theiroperations by acquiring neighbouring or nearby land holdings. From discussions in recent meetings, it appears the four big banks are starting to fight over “market share” providing opportunities for good borrowing and better deals.
Describe the most interesting property you have sold?
Eyre Peninsula Cropping Aggregation in 2013 - 14 properties scattered over the Eyre Peninsula. Diverse land holdings across variable rainfall regions. Some of the properties werewell developed and boasted good assets and others not so good. It was great to sell 14 out of 14, with the receiver and manager McGrathNicol very satisfied with the end result.
What are the ingredients to being successful in your job?
Having a good team is essential, as well as understanding the intricacies of the industry, being able to fully engage with your clients (never take anything or anyone for granted), persist in a deal and don’t be concerned about the opposition - just be better!
What aspects of your role do you enjoy the most?
Client engagement and “doing the deal”.
Where would you invest a spare $750,000?
Obviously rural property. The food security issue will not go away. Rural property is a “long-term hold” investment. My background is farming so I understand the risks.
Which football team do you support? The Adelaide Crows.
What’s your favourite app or techno gadget?
The iPhone is my office away from the office.
How do you use social media?
I prefer to engage with people personally. I do use <a target="_blank" href="https://www.propertyobserver.com.au/https://au.linkedin.com/pub/phil-schell/41/684/583">LinkedIn</a>, however, I need to explore the advantages of it further.
<a target="_blank" href="mailto:news@propertyobserver.com.au">news@propertyobserver.com.au</a>
                                
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In profile: CBRE Agribusiness' director, Phil Schell

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The light at the end of the tunnel has arrived for Australia's accommodation market, with supply levels hitting a record high last year.
Research from JLL's latest Top Hotel Owners and Operators Survey showed that accommodation supply rose 1.3% to 230,064 rooms at the end of June 2013, which it described as a "positive sign" that the market is "once again poised for growth after the uncertainty of the past few years".
After declining in 2012, it said, serviced apartments emerged as the growth sector in 2013 with room supply increasing 2.6% year-on-year with the addition of 1,442 keys. That compared to growth of 1.9% (1,683 rooms) in the hotel sector and a 0.3% decline in motel rooms (-229 rooms), revealed the report, which is based on supply levels across the hotel, motel and services apartment sectors.
Of the 230,064 accommodation rooms in Australia, the top 10 owners accounted for 11.3% (26,085 rooms) of total room supply at the end of 2013 and the top ten operators 40.7% (93,691 rooms).
The survey noted that the top 10 owners recorded a 1% lift in rooms in 2013 with the addition of 267 rooms.
<img alt="JLL_Australia_top_ten_owners_-_chart-march-5" height="375" width="470" src="/images/stories/2014/03/05/JLL_Australia_top_ten_owners_-_chart-march-5.gif">
Source: JLL. Note: * Includes joint venture properties with Far East
Last year also brought one new entrant into the top ten - the Abu Dhabi Investment Authority (ADIA) - following its acquisition of the Tourism Asset Holdings (TAHL) portfolio. The sale saw TAHL exit the sector after more than a decade in the top spot, it said.
"The transaction represented the first major direct hotel acquisition by a Middle East group in Australia...," said JLL's Hotel &amp; Hospitality Group chief executive for Australasia, Craig Collins.
"Offshore groups now account for 53% of rooms owned by the 30 largest accommodation owners in Australia".
Offshore investors, the survey showed, were predominantly from Asia, albeit with an increasing proportion of rooms held by Middle Eastern and global groups.
"This indicates how globalisation trends are gaining pace once again in the new era of hotel investment", JLL said.
The survey highlighted that operating groups have been very active over the past year, resulting in some significant changes to the top order.
<img alt="JLL_Australia_top_ten_operators_-_chart-march-5" height="350" width="470" src="/images/stories/2014/03/05/JLL_Australia_top_ten_operators_-_chart-march-5.gif">
Soure: JLL. *Note: Not provided, sourced from website
Collectively, the top ten increased their portfolio holdings 2.5%, bringing the total rooms under management to 93,961 across 963 properties.
However, JLL also said that four companies achieved double-digit growth, with the biggest gains recorded by Toga Hospitality - up 30.4%; Hilton 27.9%; Best Western 12.1 % and Oak Hotels &amp; Resorts 10.7%.
<a target="_blank" href="mailto:news@propertyobserver.com.au">news@propertyobserver.com.au</a> 
                      
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Accommodation market supply levels hit record high: JLL

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Investors are being offered a rare opportunity to buy a residential development site, with development approval for an 18-level mixed use building in Sydney's exclusive suburb of North Sydney. 
Located at 225-235 Pacific Highway and 22 Angelo Street, the 1,538 square metre site is approved for 190 apartments with 11,937 square metres of residential space plus ground commercial/retail space of 867 square metres. 
<img alt="north-sydney-feb-26-one" height="288" width="470" src="/images/stories/2014/02/26/north-sydney-feb-26-one.jpg">
Knight Frank’s Andrew Drury, Peter Krieg, Brett Burridge and Dominic Ong have been appointed to sell the mixed use development site on behalf of industrial property investment group, Ford Land Company.
Mr Drury said that with limited development sites remaining in such prestige localities, <a target="_blank" href="https://225pacific.com.au/?">225-235 Pacific Highway</a> offers a rare opportunity to acquire such a property with valuable development consent.
The agents said that potential buyer could immediately start per-sales from settlement of the purchase.  
The approval consists of six, three bedroom penthouse apartments, 72 two bedroom apartments, 97 one bedroom apartments, 15 studio apartments, roof top communal entertaining areas, six levels of secure basement parking for 150 cars plus extensive storage areas. The approval also includes lower ground floor areas incorporating a tapas bar, restaurant and café and a top floor concierge apartment.
The DA approved site will be ready for construction to commence in July 2014. The public tender closes on 18 March.
<a target="_blank" href="mailto:news@propertyobserver.com.au">news@propertyobserver.com.au</a>
        
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Rare residential development site opportunity in North Sydney

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Melbourne-based unlisted property fund manager, Quintessential Equity, has leased a further 13% of its office building in Sydney's Lane Cove West, taking it to near fully occupancy. 
Quintessential Equity purchased the 166 Epping Road property last April when it was just 80% occupied. 
Following the recent leasing to a joint venture between Downer EDI Works Pty Ltd, a subsidiary of ASX-listed Downer EDI Limited, and Mouchel International (Jersey) Limited, a major international infrastructure and business services group - just two% or 161 square metres of the building is now vacant. 
Quintessential Equity director, Shane Quinn, said the additional lease agreement was a
positive result for investors in the Trust and demonstrated the success achieved through
proactive management by the company.
"Since we settled 166 Epping Road, we have made steps towards significant enhancements to the property, aiming to attract new tenants".
“We have enhanced the presentation of the space and worked with leasing agent specialists in the Lane Cove area to encourage new tenants to preview the refurbished office building".
The five level commercial building has three levels of office accommodation with a total net lettable area of about 7,129 square metres as well as two levels of basement car parking with 235 individual car spaces.
<a target="_blank" href="mailto:news@propertyobserver.com.au">news@propertyobserver.com.au</a>
                     
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Quintessential Equity sign additional lease to expand Lane Cove West office

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Cold-press juice offering company, Pressed Juices, has continued its expansion across Melbourne, this time signing an eight year lease in the CBD. 
The 10 Howey Place deal was negotiated at $3,000 per square metres for the 20 square metre boutique site on the laneway off Little Collins Street. 
<img alt="melbourne_feb_27_one" height="353" width="470" src="/images/stories/2014/02/26/melbourne_feb_27_one.jpg">
The deal follows a recent letting by Pressed Juices at South Yarra and represents the company's sixth site in the Garden State. Nationally, it has nine sites. 
Fitzroys City retail leasing executive, Michael Rainey, said the deal with Pressed Juices is a product of the resurgence in leasing enquiry currently seen throughout Melbourne.
“We’re seeing businesses again looking to further expand their presence,” said Rainey.
Fitzroys' city retail team negotiated the lease.
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Pressed Juice to squeeze into boutique site off Little Collins Street

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International plastic products designer and manufacturer Reln Pty Ltd has secured an industrial complex in Brisbane's northern industrial hub of Brendale. 
The warehouse/office, at 9 Mackie Way, is situated on a land area of 9,256 square metres, which includes 5,456 square metres of hardstand.
The three plus three year lease was struck at a rental of $220,000 per annum gross plus GST.
Paul Anderson of Ray White Industrial Milton in conjunction with Dillon Murphy and Trevor Nelson-Jones of Ray White Commercial Pine Rivers handled the lease. 
Mr Murphy said the property was zoned general industry and included a 1,600 square metre warehouse and 77 square metres of office/showroom space.
<a target="_blank" href="mailto:news@propertyobserver.com.au">news@propertyobserver.com.au</a>
               
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Brendale, Brisbane warehouse/office industrial property leased

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A local investor has acquired an industrial facility at <a target="_blank" href="/news">Molendinar</a>, an industrial suburb on the Gold Coast - for $1.05 million. 
Gold Coast based business TEW purchased the 10 Barnett Place property, which has high site coverage of above 53% with a ground floor area of 932 square metres, an office mezzanine of 130 sqaure metres plus and an additional storage mezzanine. The total floor area is 1,122 square metres, on a 1,741 square metre site.
The selling agent was Pat Cavanagh of Colliers International.
“The previous owners who occupied the property were MP Group,” said Mr Cavanagh. “They sold the property as part of their business consolidation plan and have relocated their business to another building within Molendinar.”
The new owners TEW, offer mechanical and electrical technical services and have been operating on the Gold Coast for 21 years.
news@propertyobserver.com.au
           
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Gold Coast industrial facility sells for $1.05 million

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A local investor has snapped up a prominent retail showroom at <a target="_blank" href="/news">Nerang</a> on the Gold Coast for $1.8 million.
The 84 Spencer Road property, with exposure to the Pacific Motorway, is on a five year lease with an extra five year option to a flagship Bridgestone Select Service and Tyre Centre.
<img alt="nerang_feb_26_one" height="271" width="470" src="/images/stories/2014/02/26/nerang_feb_26_one.jpg">
Ross Salmon of Sun Shop (NSW) Pty Ltd acquired the purpose built 894 square metre building.
The modern tilt panel building is constructed on a 2,000 square metre site and was previously bought by the Nichols family in 1995 for $330,000. The family built the building and operated a tyre centre at the premise for 17 years before leasing the property to Bridgestone Australia Limited in late 2012.
Colliers International associate director of investment services and marketing agent of the property, James Crawford, said that the income was $126,000 per annum excluding land tax and management, reflecting a true net yield of just under 6.5%.
news@propertyobserver.com.au 
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Local investor snaps up Nerang showroom for $1.8 million

<a href="https://www.apartments.com.au/developments/broadbeach-qld-4218">Broadbeach</a> offers plenty of reasons to live vertically, but moving from a substantial family home into an apartment can expose the compromises of high-density living. Privacy, room for guests and usable living space tend to matter more when an apartment is intended as a permanent home rather than an occasional coastal base.

A typical residential floor at <a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a>, on Surf Parade,&nbsp;contains just four apartments. The 94-residence development by <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> is predominantly made up of expansive three-bedroom homes, with a limited collection of half-floor penthouses above.

Across the apartment floors, <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has used the relatively limited number of residences to give each home greater access to natural light and outlook. Living spaces extend towards full-height glazing, while a series of bay windows frame selected views across the Pacific Ocean, city and hinterland rather than treating the building edge as a continuous wall of glass.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360965]

“The apartment floors deliver a collection of homes that embrace controlled outlook via a series of bay windows deliberately framing moments of view,” Rothelowman Director Kim Lowman said.

From outside, those projecting forms contribute to the tower’s faceted profile. Strong horizontal and vertical elements establish its proportions, while the changing position of the sun alters the light, shadow and reflection across the façade throughout the day.

The same attention moves inside the apartments, where the material palette combines warm timber, natural stone, metallic detailing and softer curved forms. Kitchens sit within the main living zone, with stone island benches, integrated joinery and European appliances, before the living areas extend towards the glazing and the outlook.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360981]

Three genuine bedrooms provide room to accommodate family and guests, while two secure car spaces and storage address some of the practical considerations that can become more noticeable when moving from a larger home. Feedback from the display suite has centred on the warmth and restraint of the interiors, with buyers commenting that the residences feel like homes rather than conventional coastal apartments.

A limited collection of half-floor penthouses occupies the upper levels, increasing the scale of the living spaces and adding private balconies and elevated finishes. From this position, the outlook extends between the ocean and hinterland.

Outside the private residences, The Eveleigh separates its shared spaces between the podium and rooftop. The podium is centred on wellness, with subtropical landscaping surrounding a swimming pool and pool terrace, yoga garden, private gymnasium, sauna and hot and cold plunge facilities. Landscaped retreats and pavilions provide additional places to sit away from the main recreation areas.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360966]

Higher in the building, a rooftop pavilion and private dining suite sit alongside resident lounge, barbecue and outdoor dining areas, opening towards panoramic views across the ocean, city and hinterland.

“Buyers are no longer just looking for an apartment, but a lifestyle where they can relax, reset, and enjoy a balanced way of living,” Hirsch &amp; Faigen Director of Sales Matt George said.

Interest to date has come from established owner-occupiers and interstate lifestyle purchasers, including buyers planning a future move to the Gold Coast. Many are coming from larger homes and want to reduce ongoing maintenance without giving up space for family and guests, privacy, two car spaces or the ability to entertain at home.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360969]

Much of that daily life can also take place beyond the building without requiring a drive. Kurrawa Beach and Pratten Park are an easy walk from Surf Parade, while Pacific Fair, Oracle Boulevard, The Oasis, restaurants, cafés, entertainment and public transport are also within walking distance.

The Eveleigh is Hirsch &amp; Faigen's fourth Gold Coast development since entering the market in 2021, following The Hemingway at Palm Beach, The Emerson at Kirra and Yves at Mermaid Beach. Each of the preceding projects sold out before completion.

“Broadbeach had been on our radar throughout our time operating on the Gold Coast,” the developer said. “Following our projects in Palm Beach, Kirra and Mermaid Beach, Broadbeach represented the natural next step for the business.”

The Surf Parade site brought together proximity to the beach, protected coastal outlooks and walkability to dining, shopping and recreation. Hirsch &amp; Faigen also identified the street as an emerging premium residential address, with enough separation from Broadbeach's busier destinations to retain a quieter environment at home.

The Eveleigh is now under construction by Maxcon, with completion forecast for mid-2028. Three-bedroom residences are currently available from $2.87 million.

[smartcode_project_cta:default project_id=149670]

Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

A long-stalled Campbelltown development site is back in play, with new plans for 139 apartments set to supersede a mixed-use scheme approved almost a decade ago but never built.

The new proposal for 28 Cordeaux Street would deliver 116 market and 23 affordable apartments in a part 14-storey building, bringing a substantial new project into a Campbelltown market where new apartment supply remains limited.

Plans have been filed over the 3,092 sqm corner site at Moore-Oxley Street, around 600 metres from Campbelltown Railway Station and the city-centre retail core.

The site already carries a mixed-use residential approval dating to 2016. Doroch Architects has now been engaged on a larger replacement scheme, which is progressing as a State Significant Development Application following a Housing Delivery Authority determination in August 2025.

The apartment mix comprises 39 one-bedroom, 72 two-bedroom and 28 three-bedroom residences. Two-bedroom apartments make up just over half of the project, while three-bedroom homes account for 20 per cent.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="136dd5b9-3791-4da6-9e31-76f533f5b4de" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da2.png?VersionId=LgOSy9nwf5u.MGswBBwaGGxuX8QpHSl_" />

Of the 139 apartments, 23 will be delivered as affordable housing under the in-fill affordable housing provisions of the Housing SEPP. The affordable component represents 15 per cent of the residential gross floor area and will be managed by a registered Community Housing Provider.

Doroch has sought to break the scale of the building into two distinct elements, with a masonry podium of around four storeys establishing the street edge before the residential tower steps back above.

The corner position has shaped that approach. Cordeaux Street faces toward the commercial and civic centre, while Moore-Oxley Street leads into the lower-scale residential neighbourhood to the south, and the design verification report describes the site as "bridging the commercial core to the north and established residential areas to the south."

The podium will be expressed predominantly in face brick, while the upper levels shift to brushed and grooved concrete cladding with darker metal detailing. Recessed sections, deep balcony edges and landscaping break down the upper form, with an approximately 11.8-metre setback to the northern boundary addressing the adjoining St Peters Anglican School.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="c8b3d2d3-c561-4bfc-a5d9-a68c0c10dac1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da1.png?VersionId=AeAEyJU02Gk2k5noUj2StziCvdQ7fW4B" />

Campbelltown has been starved of new residential developments in the last decade.

The only other notable development set to come to market this year is ALAND's Queen Square, a mixed-use precinct on over two hectares that will comprise apartments above a vibrant ground-level retail and hospitality dining precinct.

First look: New 139-apartment plans revive long-stalled Campbelltown city centre site

First Look: Sherlock Construction pitches apartments for low-rise Deception Bay

Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

First look at MAYD's North Kirra mixed-use precinct

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Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

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[smartcode_project_cta:default project_id=152737]

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Katherine Jimenez

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