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Strong bidding from residential homeowners, hostel operators and developers saw a former hostel in Melbourne's Fitzroy sell under the hammer for $1.704 million.  
The expansive Victorian terrace home, features six-bedrooms, three-bathrooms and offered 330 square metres of space on 285 square metres of land. 
For more than 20 years, the 66 George Street property was home to AHL George Wright Shelter. 
It was sold with vacant possession to a local private investor. 
Colliers International’s Ted Dwyer and Andrew Ryan were the selling agents. 
“The property provides an opportunity for someone to turn it into a lavish residential home, but also to continue its use as a hostel or other form of accommodation, or another form of residential development (STCA),” said Mr Ryan.
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Former Fitzroy hostel sells under the hammer for $1.704 million

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Several offshore parties are believed to be circling one of Australia's most prestigious hotels - the iconic Sofitel Wentworth - barely a week into the marketing of the five star hotel.  
Property Observer understand that a number of parties from China, Europe, the US and Singapore are already believed to be having a hard look at the hotel -  which has become famous for hosting Liberal Party gatherings on election night.
It is understood that the final buyer is likely to come from offshore and that the selling price will be about $200 million. 
LaSalle Investment Management acquired the hotel for $130 million in 2010, on behalf of the LaSalle Asia Opportunity Fund III.
Expressions of interest for the 436-room hotel close on 21 March through Jones Lang LaSalle's Hotels &amp; Hospitality Group and McVay Real Estate.
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Numerous offshore parties circling the iconic five star Sofitel Wentworth hotel

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Melbourne-based Impact Investment Group has outlaid $32 million to acquire the global headquarters of Roy Morgan Research in Melbourne's CBD.
The fully leased building, at 401 Collins Street, was sold on an initial net yield of 7.81%.
Roy Morgan Research occupies the entire building and will enter into a 10 year lease with Impact Investment Group (IIG) with two five year options.
Located in the heart of the Melbourne's CBD banking and finance district, the 11-storey office building was built in 1937 for the Trustees Executors &amp; Agency and underwent significant improvements in 2007.
IIG said it acquired the building with a strategy to dramatically improve the overall energy performance of the property, which currently has a NABERS Rating of 1.5. It is targeting a NABERS rating of 4 or greater.
The asset will be held in a single property unlisted investment trust.
"The trust aims to provide sophisticated and wholesale investors the opportunity to benefit from the secure, long term income stream and the potential for capital growth, while benefitting from the environmental and social initiatives of IIG", said the group.
IIG’s sophisticated and wholesale investors are forecast to receive quarterly income returns of about 9% a year.
Since its inception in early 2013, IIG has arranged and co-invested in four investment syndicates. The 401 Collins property is the fifth for IIG, which is owned by Chris Lock - chief executive - and Small Giants, the family office of Daniel Almagor and Berry Liberman.
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Impact Investment Group purchases Melbourne CBD office building for $32 million

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A stronger presence from domestic purchasers, yield compression, improved leasing conditions driving demand and investors moving up the risk curve to access stock are expected to be the key forces driving higher investment in Australia's CBD office market in 2014.
Colliers International’s latest CBD Office Research &amp; Forecast Report for the first half of 2014 showed that more than $8.1 billion worth of CBD office buildings changed hands in 2013 - 16% above the previous year and the highest level of investment since 2007. 
Australian and offshore institutions dominated buying activity and China emerged as the country with the strongest growth, purchasing $580 million of CBD office property in 2013, said the report. 
"Growth in Chinese investment is expected to continue to define the market in 2014," said John Marasco, Colliers International managing director of capital markets and investment services.
"To date, most of the activity has been private Chinese investors purchasing secondary CBD office buildings however this started to change at the end of the year with the sale of Centennial Plaza to China’s sovereign wealth fund China Investment Corporation." 
"We are now seeing growth in institutions from China purchasing offices for investment, as opposed to development."
While offshore interest is expected to remain strong Colliers believes 2014 will be the year that domestic purchasers make their presence known.  "We are already seeing local demand competing, and in some cases winning, against the force of the offshore investors and this is set to continue further in the year ahead," said Mr Marasco. 
"On the back of increased activity by A-REITs, superannuation funds and privates, we will start to see the pendulum swing towards the locals in 2014."
Colliers is forecasting yields to tighten further this year on the back of increased competition for assets and the weight of money. 
Prime CBD office yields currently range from 6.75% in Melbourne CBD to 7.94% in Perth CBD. By the end of this year, Colliers is tipping yields will become firm in all markets with the exception of the Perth CBD.
Improved leasing conditions are also likely to drive demand for CBD office assets, noted the report. 
“The ‘disconnect’ between a strong investment market and a weak leasing market has been a key feature of Australian CBD office markets over the past two years,” said Nerida Conisbee, Colliers national director of research. “We now consider that incentives have peaked in most CBDs and prime net effective rental growth is likely to occur in all markets with the exception of Brisbane". 
Mr Marasco said that almost all indicators pointed towards increases in the amount of funds targeting Australian commercial property in 2014.
“Australia continues to be an attractive investment destination and provided that stock continues to come to market, total investment volumes should be greater in 2014 than they were in 2013,” he added.
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Chinese investment growth will continue to define commercial market: Colliers International

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Australian CBD office markets are entering into a hiatus period this year, with supply levels forecast to hit their lowest point in 13 years.
Despite strong supply in Melbourne and Sydney, Knight Frank's latest Australian CBD Research showed that stock levels across the nation's capital cities slumped 29% to 463,000 square metres of new and refurbished stock in 2013. That compared to 649,000 square metres in 2012.
<img src="/images/stories/2014/02/25/chart_of_tghe_week_feb_25_one.png" width="470" height="297" alt="chart_of_tghe_week_feb_25_one">
Source: Knight Frank
Supply levels are expected to shrink further this year, with the global real estate firm forecasting supply to come in at only 241,000 square metres - a figure it says would be the lowest level of gross supply additions since 2001 when nearly 200,000 square metres was completed.
"Following relatively strong completion activity over the past two years, this hiatus in new construction completions over the next 12 months comes at a welcome time for the markets, especially those with an overhang of backfill and sub-lease space waiting to be absorbed," said Knight Frank national director of research, Matt Whitby.
This year, he said, the only major high profile additions to stock would occur in Melbourne, with 150 Collins Street (Westpac committed) and 720 Bourke Street (Medibank committed) slated for completion. A handful of smaller new builds and refurbishments would also be completed in Sydney, Perth and Adelaide, he added.
However, Knight Frank is projecting a rebound of supply in 2015. It is tipping completions to total about 562,000 square metres and includes projects that commenced without tenant pre-commitments such as 180 Ann Street, Brisbane (Daisho) and 20 Martin Place, Sydney (Pembroke).
"Notwithstanding this, Brisbane and Canberra will be devoid of any major supply until late 2015," said Mr Whitby.
He also made a point of saying that while new supply additions were expected to be relatively lower, backfill space would continue to be a major factor this year and increasingly so during 2015.
Another key theme cited in the report was last year's unprecedented level of site sales occurring in and adjacent to the CBD markets, mostly in Melbourne and Sydney. That demand, said Mr Whitby, was driven predominately by Asian developers, as the "highest and best use" of sites was, and continues to be, slanted towards residential rather than commercial use.
"This trend will see an increasing amount of commercial stock withdrawn due to residential and hotel conversions, alongside a large number of obsolete stocks being refurbished and modernised in an effort to attract tenants."
He described that as a "real game changer for markets", especially in Sydney and Melbourne over 2014/15, "as the net supply figures (i.e. after withdrawals) will be significantly lower than the headline numbers, which will help cushion the market in the face of a soft leasing market."
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Australian CBD office supply forecast to hit 13 year low

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<img src="/images/stories/2014/02/25/DTZ_logog.jpg" width="200" height="66" alt="DTZ_logog" style="display: block; margin-left: auto; margin-right: auto;">
Name: Adam Jones<img style="max-width: 480px; float: right;" src="/images/stories/2014/02/25/jones-feb-25-profile.png" width="125" height="150" alt="jones-feb-25-profile">
Position: Director of CBD office leasing, landlord and institutional investor services

Company: DTZ

Office Location: Melbourne
 
How long have you been in the industry?

I have been in the industry since 2000, starting off in retail leasing then a short stint in corporate services and then specialising in CBD leasing.
What’s happening in the area you specialise in?
Very interesting times in that the Melbourne CBD vacancy rate has declined in the last six months, which should see incentives stabilise or reduce marginally from the levels they were at last year.
Unlike the past five years which has seen numerous developments come on stream which is well above historical averages, only two new developments, namely Medibank’s new headquarters at 720 Bourke Street and Westpac’s new office at 150 Collins Stree,t are due to be completed this year. Landlords by the end of the year should start to see some semblance of rental stability or growth.
Describe the most interesting property you have leased?
717 Bourke Street which was a brand new 38,000 square metre development in Docklands was interesting from the point of view of the technology involved in the design. 500 Collins Street was also unique in that the building was comprehensively upgraded with tenants in situ with sustainability as its cornerstone. It was the first refurbishment project in Australia to receive a five star Green Star design rating from the Green Building Council of Australia.
What are the ingredients to being successful in your job?
Remaining positive and patient as some deals can take an extremely long time to finalise. The old cliché about thinking outside the square is also important as Landlords are seeking people who can add value rather than act as a facilitator – you need to be able to provide a point of difference.
What aspects of your role do you enjoy the most?
I enjoy coming up with strategies for landlord’s as to how best to market and differentiate their asset in what is a competitive environment. It is also enjoyable coming up with different methods of identifying who is the best fit for a particular space, particularly doing this before our competitors.
Where would you invest a spare $750,000?
If I was a landlord I would look to upgrade my end of trip facilities, as all tenants these days have a strong focus on this. I would also look to spec a fitout, particularly if the space is clear and has been sitting vacant for an extended period. From a personal viewpoint a little thing called a mortgage and put some away for school fees for when my kids get older.
Which football team do you support?
Hawthorn. Very passionately. I am looking forward to back to back flags!
What’s your favourite app or techno gadget?
My Blackberry

How do you use social media?

Twitter for business snapshots/articles and <a href="https://www.propertyobserver.com.au/https://au.linkedin.com/pub/adam-jones/7a/888/740" target="_blank">LinkedIn</a> to stay across who is moving and who key decision makers within various companies are.
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In profile: DTZ's director of CBD office leasing, landlord and institutional investor services, Adam Jones

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A development site in Melbourne's western industrial heartland of Altona has been slated for auction, with price expectations of more than $800,000.
The 5,132 square metre industrial site is located, at 8 Kearsley Court, is only minutes from the West Gate Freeway and 14 kilometres from the Melbourne CBD.
The site will be auctioned on March 6 through marketing agents, Savills Australia's Tim Casanelia and Tom Davis of Tom Davis Industrial Property Consultants.
"The sale provides an opportunity for a developer or owner-occupier to secure a site in what has been a sought after location having already attracted the likes of Coles, Toyota, Chep and Target," said the agents.
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Altona development site slated for auction

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Investors are being offered a rare opportunity to acquire a 50% share in the new Queensland headquarters for GE Australia in Springfield Central.
The soon to be completed GE Queensland headquarters, located in the central business district of Australia’s largest master planned city, Greater Springfield in the heart of South East Queensland, is being offered for sale with three adjoining future development sites.
The 31 Barry Alexander Drive site - known as Parkside - has a total land parcel of 16,880 square metres.
Knight Frank’s Grant Whittaker and Ed Sutton, in conjunction with Savills Peter Chapple and Anthony Ott, <a target="_blank" href="https://www.spacehero.com.au/listing/Brisbane-Cbd-6322">are marketing the GE building and development projects</a> on behalf of master developer, Springfield Land Corporation.
“Comprising 12,500 square metres of A-grade office accommodation over five levels, the Parkside project will be a landmark asset designed by leading architects Conrad Gargett Riddel and anchored by one of the world’s largest corporations,” said Mr Sutton.
On completion, Parkside will comprise an ultra-modern office tower with ground floor retail and secure basement parking for 229 vehicles. The building is targeting a 4.5 star NABERS rating.

Mr Sutton said the residual land contained in the project’s commercial precinct provided an opportunity to partner with the master developer, Springfield Land Corporation, to undertake a joint venture for the development and delivery of the three separate but adjoining lots. The lots are known as Parkside Two, comprising 1,790 square metres, Parkside Three 4,745 square metres and Parkside Four 5,345 square metres for uses including commercial, hotel and retail, he said.
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Investors offered chance to purchase 50% stake in new Queensland headquarters for GE Australia

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Lynch Group Australia has sub-leased a warehouse facility in Sydney's Mascot.
The company has secured 1,404 square metres of sub-leased space, at Unit 9/476 Gardeners Road. 
The length of the lease is for nine months, at a gross face rent of $155 per square metre.
The previous tenant in the property was Smartbox Storage Pty Ltd. 
Agent Trent Gallagher of Colliers International handled the lease. 
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Lynch Group Australia sub-lease Mascot, Sydney warehouse

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Non-profit group People with Disability Australia (PWD) has relocated to new offices in Sydney's city fringe suburb of Redfern.
The firm secured 433 square metres of space on Level 10, 1 Lawson Square Street, Redfern.

The leasing deal was negotiated by Ray White Commercial Office Leasing Director John Skufris.

The lease was struck at a gross rental of $166,705 per annum over three years.

Nearby at 161 Redfern Street, the Aboriginal Disability Network leased 129 square metres, at a gross rental of $450 per square metres a year. Mr Skufris also negotiated the lease.
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People with Disability Australia relocating office to Redfern

<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.

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[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.

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[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.

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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.

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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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