<html><body>
The Woden town centre building in Canberra's CBD has been purchased by the Woden Specialist Medical Centre for $4.4 million.
The property (pictured below), at 90 Corinna Street, has a net little area of about 1,830 square metres and is 70% vacant.
<img src="/images/stories/2013/09/05/woden-sept-11-two.jpg" width="470" height="311" alt="woden-sept-11-two">
Centrelink is the major tenant in the three-storey building, occupying 30%.
Selling agent Ray White Commercial Canberra Director, Andrew Smith said the new owners intended to refurbish the vacant first and second floors of the building and reposition them as a medical centre.
Eblana Pty Ltd was the vendor.
</body></html>

kjiminez-eaYKfU7qd2

Woden town centre building sold for $4.4 million for use as a medical centre

<html><body>
Investment activity in Victoria's retail market has soared to the highest level since the global financial crisis, a new CBRE report has revealed.
Strong buyer interest from international investors and institutional groups saw the state's retail market emerge as the epicenter of investment activity, with CBRE's Australia MarketView report showing Victoria accounting for 46% of all national transactions in the second quarter of 2013.
"Over the first half of 2013, retail investment levels were at a five-year high, with the low interest rate environment and strong performance of retail assets – particular non-discretionary - seeing investors show renewed levels of confidence in both regional and CBD markets,” said CBRE director of Victorian retail investments Mark Wizel.
The spike in investment activity comes despite a broader trend of weak retail trading conditions across the country.
At the centre of that buying activity was Victoria’s neighbourhood shopping centre market, with Mr Wizel citing a wide range of private and corporate acquisitions such as ISPT’s purchase of 75% interests in over 20 Coles developed properties and SCA Property Group’s acquisition of the Lascorp portfolio.
Partly driving that higher investment activity in neighbourhood shopping centres was a shift in consumer spending towards food retailing.
CBRE Senior Retail Research Manager Tammy Smith said the change in investor sentiment was the result of an economic shift and the move towards non-discretionary spending.
The report showed that while Victoria’s retail turnover figures in the 12 months to June 2013 were below the national average – recording no growth over the period – supply levels and rents have continued to trend upwards.
In the 12 months to June, metropolitan regional rents rose to between $1,385 per square metre and $2,615 per square metre, CBRE figures showed, while neighbourhood centres benefited from the large food based tenant mix to record a 3.1% lift in rents annually.
However, the large discretionary spend exposure of sub-regional centres, saw rents drop 4.1% to sit between $598 per square metre and $1,317 per square metre.
The CBRE report also indicated that the Melbourne CBD market could be the next hub of invesment activity.
“We believe that for the first time in four years, confidence within the Melbourne CBD tenancy market has exceeded that of the investment market – ultimately this means that over the coming months the investment market will respond in a positive manner,” said Mr Wizel.
"Asian investment within the Melbourne CBD, and specifically for retail properties, is currently at unprecedented levels, with properties ranging in value from $2 million to $100 million attracting interest from both Asian investors living locally, as well as offshore-based investors looking to deploy funds to the state’s capital city.”
</body></html>

Victorian retail market at highest level since GFC: CBRE

<html><body>
A wave of cashed up international investors are on their way to Australia, with an estimated war chest of about $18.5 billion ready to be invested in commercial property assets around the country.
A new report from Cushman and Wakefield - titled “Capital Flows: How heavy is the weight of money?” - showed that more than 50 offshore firms are scouting the Australian commercial property market for assets, with an estimated war chest of US$16.5 (AU$18.5bn) billion in offshore money.
Office transactions
<img style="display: block; margin-left: auto; margin-right: auto;" alt="office_transactions" height="189" width="342" src="/images/stories/2013/09/10/office_transactions.png">
Source: Cushman &amp; Wakefield
And leading that overseas charge, the report said were the Singaporean firms, with an investment allocation totalling an estimated US$4.1 billion, followed the US, Malaysia and China.????
Cushman &amp; Wakefield Associate Director of Research and consultancy, Peter Ainge, said that up until now the major international investors had merely “dipped their toes in the water” when it came to Australian acquisitions.
"A more direct and aggressive move is on the short term cards," said Mr Ainge.
Investment managers, equity funds and open ended funds, the report said, were expected to have the largest allocation for Australian property investments, totalling about US$3.8 billion.
<img style="font-size: 0.8em; display: block; margin-left: auto; margin-right: auto;" alt="capital-inflows-chart-of-the-week-sept-10" height="427" width="477" src="/images/stories/2013/09/10/capital-inflows-chart-of-the-week-sept-10.jpg">
Source: Real Capital Analytics
"The next biggest category was the pension funds, with an estimated US$3.6 billion slated for investment. Among the pension funds identified were the Teachers Insurance and Annuity Association; College Retirement Equities Fund (TIAA-CREF) from America and the National Pension Service from Korea.
“Existing asset owners are approaching a critical stage, as the intense weight of international money coupled with the growing investment capacity of domestic superannuation firms creates a scenario in which it may be attractive not to take their assets to market,” said Cushman &amp; Wakefield director of investment sales, Mr Tony Dixon.
<img style="display: block; margin-left: auto; margin-right: auto;" alt="yield_spread" height="222" width="334" src="/images/stories/2013/09/10/yield_spread.png">
Source: Cushman &amp; Wakefield
The report also highlighted that while offshore investors have been focused on core assets, with many adopting a “trophy hunter” approach, "the lack of investment opportunities is expected to see these investors move up the risk curve towards core plus and value add opportunities."
“Some offshore investors with firm ambitions to invest in Australia may find they need to broaden their investment mandates beyond the prime assets and core markets,” said Mr Ainge.
“While this is yet to materialise into actual purchases at this stage, Cushman &amp; Wakefield can confirm that enquiry levels for secondary assets have increased.
"Hence any cap rate compression in the secondary asset market is likely to be driven by an increased weight of money rather than underlying property fundamentals."
</body></html>

Cashed up foreign investors scouting Australian commercial property market: Cushman & Wakefield

<html><body>
<img style="display: block; margin-left: auto; margin-right: auto;" alt="knightfranklogojuly17" height="73" width="200" src="/images/stories/2013/09/10/knightfranklogojuly17.jpg">
Agent: Brooke Railton<img style="float: right;" alt="brooke-railton-profile" height="225" width="150" src="/images/stories/2013/09/10/brooke-railton-profile.jpg">
Position: Manager, industrial
Company: Knight Frank
Office Location: South Sydney
1. How long have you been in the industry?
I’ve been in the industry for about eight years, as I started working in agency throughout university. I spent two years working in London and I’ve been working in the agency in South Sydney for about six years.
 
2. What’s happening in the area you specialise in?
South Sydney continues to go through incredible change which is really exciting to be a part of. Traditional industrial areas are being rezoned to allow for residential and commercial developments. This makes my role more geographical than sector specific having worked on business/office space, warehousing, residential site sales and adaptive reuse.
There are some great character buildings in the Alexandria/Rosebery area ripe for adaptive re-use and the demand from the end user is very strong as tenants move from city fringe locations. Concepts such as Kitchen by Mike, The Grounds of Alexandria and the new Fratelli Fresh in Alexandria bring a fresh dynamic and amenity to the area.
 
3. Describe the most interesting property you have sold
We have recently been marketing an industrial property in the south Sydney suburb of St Peters which has 13 older style buildings and is about 95% leased to a range of creative users. It was really interesting looking at the number of ways the property could be adapted or redeveloped and discussing the different viewpoints with purchasers.
 
4. What are the ingredients to being successful in your job? 
Having a thick skin! Perseverance and attention to detail are key as well as building trusting relationships with clients.
 
5. What aspects of your role do you enjoy the most?
No two properties are the same and I like that each one presents a new challenge and requires a considered strategy. Seeing the potential in a property and working with clients to achieve this is also very rewarding as is finding the right property for a tenant.
I also don’t mind inspecting the fashion headquarters that are in Alexandria!
 
6. Where would you invest a spare $750,000?
I’d buy a residential property.
 
7. Which football team do you support?
I grew up in Brisbane so I’m torn between the Lions and Swannies. 
 
8. What’s your favourite app or techno gadget?
The Knight Frank app is great for ogling the amazing properties for sale around the world - you can search by your interests such as skiing, golfing or vineyards! And the Run Keeper app keeps me motivated.
9. How do you use social media?
Keeping up to date with colleagues, friends and family - I also like to follow a range of blogs from architecture design, health and business leaders.</body></html>

In profile: Knight Frank's manager, industrial South Sydney, Brooke Railton

<html><body>
A rare development site in Adelaide's Riverbank precinct is up for sale with an asking price of about $6.75 million.
The 62 Hindley Street site, known as LC House, is owned by a hotel developer who purchased the property for about $6.5 million in 2010.
Selling agent, Knight Frank director Mr Tony Ricketts, said the property was primed for redevelopment and would suit retail, commercial, student accommodation, apartments and car parking.
“Major public investment in the CBD is creating the potential for new apartments, commercial and retail space and tourist accommodation, but few development sites are in a prime position like 62 Hindley Street," he said.
The 62 Hindley Street site covers 1,785 square metres with dual frontage onto Hindley and Blyth Streets.
Offers close today.
</body></html>

Adelaide’s Riverbank precinct up for sale

<html><body>
A local private investor has purchased an industrial property in Brisbane's Tingalpa at auction for $4.2 million.
The industrial property, at 40 Enterprise Place in Tingalpa, consists of 4,239 square metres of building, on a 6,610 square metre site.
Colliers International's Anthony White and Mathew Frazer-Ryan negotiated the sale on behalf of the vendor, Perpetual Trustee Company Limited.
Mr White said they received solid enquiry prior to the auction, with as many as 30 people attending and three serious parties bidding.
The new owner plans to undertake a small renovation of the Tingalpa property before putting it on the leasing market.
Built in 1995, the industrial facility has 3,946 square metres of industrial space and 293 square metres of office space.
</body></html>

Private investor buys $4.2 million industrial property in Tingalpa, Brisbane at auction

<html><body>
Advertising company The One Centre Group has taken a 275 square metre lease on the ground floor of the historic Company Director House building in Sydney's CBD.
The term of the ground floor lease, at 71 York Street, is for five years, with a gross rental of about $162,250 per annum.
Ray White Commercial office leasing directors John Skufris and Jeremy Piggin negotiated the lease.
Mr Skufris said the space was formerly a salon and day spa operation but was completely transformed "with the entire fit out removed, the ceilings exposed and the original timber floors sanded back to offer a strata-titled character space."
</body></html>

The One Centre Group signs Sydney CBD office lease

<html><body>
The Reject Shop will join a long line of blue-chip tenants that are moving into Adelaide's next major shopping mall - the Seaford Meadows shopping centre.
The discount retailer has taken 681 square metres of retail space in the yet-to-be built centre, which will be anchored by a Woolworths Supermarket and more than 14 speciality stores.
<img alt="seaford_meadows_sept_4_two" height="257" width="470" src="/images/stories/2013/09/04/seaford_meadows_sept_4_two.jpg">
Colliers International, in conjunction with Savills, has been appointed to manage the leasing of the centre.
“Chemist King and a liquor retailer have also been secured and negotiations are underway for the remaining tenancies," said co-leasing agent Ben Laycock of Colliers.
He said the centre's location, on the corner of Grant Boulevard and Bitts Road, was in the heart of the new Seaford Meadows neighbourhood development.
Construction of the new shopping centre is underway, with the mixed use development due for completion early 2014.
<img alt="seaford_meadows_sept_4_one" height="353" width="470" src="/images/stories/2013/09/04/seaford_meadows_sept_4_one.jpg">
</body></html>

The Reject Shop taken in by Adelaide’s Seaford Meadows shopping centre

<html><body>
Freight company Booth Transport has secured a six hectare site in Melbourne's Laverton North, in one of the biggest leasing deals in the city's west this year.
Booth will move into Kalari Transport’s former Laverton North headquarters on Fitzgerald Road, which comprises about 11,000 square metres of warehouse space.
Colliers International’s Nathan Bingham and Stephen Newsham negotiated the lease.
Year to date, it is estimated 110,000 square metres worth of industrial property above 3,000 square metres has been leased in Melbourne’s western precinct, which encompasses Laverton North, Derrimut, Truganina, Brooklyn, Altona and Sunshine.
“Colliers International’s Melbourne West office is currently handling a whopping 280,000 square metres of enquiry,” said Mr Newsham.
“Much of this leasing enquiry involves the awarding of third party logistics contracts whilst other deals are predominantly the result of companies restructuring their property requirements to lower costs and improve their overall efficiencies."
“Business expansion is also another common reason for relocation or the take-up of new space."
</body></html>

Booth Transport secures six hectare lease in Melbourne’s west

<html><body>
A syndicate of South African investors has purchased the Sherwood Court convenience centre in Brisbane’s south-western suburb of Sherwood for $3.9 million.
The Sherwood Road centre was sold with one vacancy but based on the centre's estimated fully leased income, the yield would represent 8.3%.
The vendor of the property was Larrapinta Pty Ltd, a company linked to private family holdings of Ken Woodley - the co-founder of Metro Property Development. Mr Woodley purchased the centre in 2003 for $2.6m.
Michael Harcourt and Peter Chapple of Savills negotiated the transaction.
Sherwood Court has a total net lettable area of 696 square metres and comprises a modern convenience centre, incorporating a mix of retail and service tenants including Bank of Queensland and Australia Post.
Mr Harcourt said the centre was underpinned by solid rental and income growth into the future and also benefited from high-profile exposure.
"Quality convenience retail centres in prominent metropolitan locations are continuing to attract strong interest from private investors, self-managed super funds and smaller syndicators," he added.
The South African buyers of Sherwood Court also own the adjoining ANZ Bank building and a third retail asset in inner Brisbane.
</body></html>

South African investor syndicate makes Brisbane convenience centre purchase

<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

<main data-perf-region="main">
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.

&nbsp;

[smartcode_project_cta:default project_id=152737]

<h3 data-end="3697" data-section-id="q3n5ak" data-start="3672">&nbsp;</h3>
</main>

Katherine Jimenez

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News