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Aussie Home Loans boss John Symond has raised more than $36,000 over the month of "Movember", with his well-groomed moustache drawing comparisons to Clark Gable and Magnum PI.
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Symond was the face of the<a href="https://www.propertyobserver.com.au/industry-news/aussie-john-symo-joins-property-industry-movember-charity-campaign/2012112057966" target="_blank"> Aussie 'SyMOs'</a> – a team of 44 Aussie brokers and employees who all grew moustaches in support of the cancer and men’s depression awareness monthly charity campaign.
The team has <a target="_blank" href="https://www.propertyobserver.com.au/https://au.movember.com/mospace/3785433">ranked fifth out of 19,000 teams who have taken part in Movember</a>.
Speaking to David Koch on Sunrise this week, Symond said he’d asked his mates if he looked more like Hollywood icon Clark Gable or TV star MagnumPI and was told that he looked more Sergeant Schultz from Hogan’s Heroes with his catch phrase: “I know nothing”.
“Very cruel, my friends, very cruel,” said Symond, who plans to shave off his moustache as soon as the clock strikes midnight November 30.
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John Symond raises $36,000 plus for Movember with Clark Gable/Sergeant Schultz look

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Premier Sydney-based real estate group McGrath has reported a 35% drop in full-year after tax profits in a year in which it opened new offices and acquired a number of businesses.

The full year audited results are for the year to June 30 2012, having been lodged with ASIC earlier this month.

McGrath Limited reported profit after tax of $2.25 million compared with profits of $3.49 million in the prior financial year.

A dividend of $2.87 million was declared compared with a dividend of $4.88 million in 2011.

The fall in profits was despite a 5% rise in revenue, which increased from $43.78 million to $45.89 million with cost of sales, employee benefits and occupancy costs rising.

Financing costs and doubtful debts halved.

McGrath also renegotiated the terms of a $6.3 million loan facility with Macquarie Bank.

During the course of the year, McGrath expanded its network of offices to 45 including 38 franchise offices, acquired the sales and rent roll business of Sarah Lorden Real Estate for $2.94 million and acquired the rent roll business of IC Property Group for $1.11 million.

In total, McGrath’s offices generated over $5.9 billion in residential sales from 6,616 transactions and also derived income from property management services.

McGrath sold 1,787 properties over the $1 million mark with new offices opening in Balmain, Crows Nest, Frenchs Forest, Brisbane, Toowoomba, and Dickson (ACT).

In the first few months of the current financial year, McGrath has added a further five offices to its network which now totals 50 offices and over 1,100 staff.

McGrath’s most recent new office opening was a franchise office in Brisbane’s north-east - McGrath Wynnum Manly – which marks its second Brisbane franchise office and third office in total.

The franchisee is Michelle Rodgers, formerly with RE/MAX Manly.

McGrath offices also picked up awards during the year with McGrath Mosman wins best large residential agency at 2012 REINSW Awards McGrath Dickson winning best medium residential agency at 2012 REIACT Awards
“Notwithstanding a challenging real estate market in some price segments, McGrath has continued to expand our geographical footprint and importantly, significant market share increases in our existing areas of business, Geoff Lucas, chief operating officer of McGrath Estate Agents told Property Observer.
“2012 was a year of continued expansion for McGrath.  Most notably the establishment of two significant company owned offices in Balmain and Paddington Brisbane.  We continued investing in our new businesses on the Gold Coast, project marketing division and our franchise rollout.
“All these businesses require initial investment and we are pleased with their substantial contribution to group earnings that will be reflected in the 2013 financial year.”
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McGrath profits fall in year of expansion and acquisitions

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Half of all property investors hand over the entire management of their rental properties to an estate agent, according to a survey by consultants BDRC Jones Donald.
The landlords are better informed and have more profitable investments as a result, the survey concluded. 
Overall, more than three-quarters (77%) of landlords involve a property manager in some aspect of their rental portfolio and tenant management with less a quarter self-managing their investments and tenants.
Around 12% of landlords surveyed said they used a property manager just to collect the rent.
On average, landlords that use a property manager are better informed of the return they are getting from their investments than those that self-manage their investments - though in both cases a high proportion of property investors have no idea of the rental yield their properties are achieving.
Just less than a third (32%) of the landlords surveyed that said they did use a property manager said they were unaware of the rental yield on their investment, compared with 40% of landlords that self-manage their rental properties.
The survey also suggests that<a href="https://www.propertyobserver.com.au/landlords/property-investment-proceeds-not-an-alternative-to-full-time-job-australian-buy-to-let-landlord-survey/2012112658109" target="_blank"> landlords that use a property manager are better off financially</a>, finding that a higher proportion (51%) of property investors that use a professional property manager achieve a positive yield on their investments compared with 36% of self-managing investors who achieve a positive yield.
In addition, property investors that use a professional property manager are more likely to earn a positive cash flow stream from their investments.
“The Australian Private Property Investor Study found that the majority of private investors rely on the professional advice and support of real estate agents to maximise their investment returns,” says BDRC Jones Donald managing director, Dr Roger Donbavand.
“When you consider that Australian investors have seen five changes to the official cash rate in the last two years and the poorest super returns since 2007, it’s no wonder landlords are reaching out to professionals to ensure investment success,” he says.
One in four of the 500 landlords surveyed by BDRC Jones Donald plan to increase their rent over the next six months, with almost half of those surveyed noticing an increase in tenant demand and an increase in rents in other rental properties in their market.
The full report can be purchased from <a href="https://www.jonesdonald.com.au/" target="_blank">BDRC Jones Donald</a>.
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One in two property investors hand over full control of portfolio to property managers: survey

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These are the five key slides investors should take note of from the recent Property Observer webinar:  <a href="/news">“The portfolio: Where property fits in your wealth-creation strategy”</a> presented by Peter Handberg, financial adviser at WHK.
Property weightings in your portfolio depend on your risk/return preference
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Where property should fit in as part of your investment and cashflow timeline
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Five smart foundations for investing
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The pros and cons of investing personally or through your super
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The 10 things you need to know about investing property through your SMSF
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The full webinar presented by <a target="_blank" href="https://www.whk.com.au/">Peter Handberg of WHK</a> can be viewed on <a href="/news">Property Observer’s webinar page</a>.
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Five key slides: Where property fits into your wealth-creation strategy

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Nearly a third of residential lots released by big land estate developers on Melbourne's fringes are being returned by mid-sized home building companies, who can't find smaller home builders and or end-use homebuyers.
The statistic has been uncovered as part of The National Land Survey Program carried out by jointly by Research Four and property consultants Charter Keck Cramer.
According to the Melbourne chapter research of the National Land Survey Program, 30% of new land activities for the September quarter were cancellations.
The September quarter figures indicate that cancellations are rising with the 12 month cancellation rate averaging 23% of monthly activity.
This compares with a cancellation rate of averaged only 4% of monthly activity during the property boom from June 2009 to December 2010.
Cancellation rates are highest in the west (Melton) and north of Melbourne (Mitchell, Hume, Whittlesea) with the south east (Cardinia, Casey) having notably lower level of cancellations relative to lot sales.
Property Observer understands that Stockland projects represents a sizeable proportion of residential land that has been returned recently.
Stockland and other residential developers sell blocks of residential land in new master-planned communities to home building companies, which then market house and land packages at buyers.
The latest report provides further evidence of the challenges facing Melbourne greenfield land developers and comes as the HIA recorded a 12.1% fall in detached new home sales in Victoria over October.
Colin Keane, director of Research Four and the National Land Survey, says the current “slump in form for the Melbourne Greenfield market has not been helped by a rise in the number of blocks of land being handed back to developers".
"Builders are unable to carry or sell on vacant land at the level which they experienced during the property boom. This situation has not been helped by a shift of first home buyer demand back to established property over new house and land."
In addition, first-home buyers don’t have the added incentive of the $13,000 state government handout, available for new home purchases, which ended in June.
Rory Costelloe, of Villawood Properties told Fairfax that developers that required buyers to put down only a small holding deposit of just $500 or $1000 on a residential block were the “really experiencing the problem”.
“This situation could market the beginning of a more conservative relationship between builder and developer as both struggle with lifting activity,” Keane says.
According to the September quarter Melbourne land report prepared by Oliver Hume, in terms of the 139 residential projects in Melbourne, Wyndham contains 24% of all projects, followed by Whittlesea and Casey with 22% and 17% respectively.
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One in three Melbourne residential lots being returned to developers by building firms: report

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A steep 12.1% drop in new detached house sales in Victoria in October has highlighted the challenges facing residential developers in the state.
In contrast NSW new detached home sales increased by 4.7% over October to lead a modest 3.4% national rise over the month, according to the Housing Industry Association monthly survey of Australia’s largest home builders.
Detached new home sales increased by 3.2% in South Australia, and 3.7% in Western Australia, but were down by 4.3% in Queensland.
Excluding the fall in Victoria, detached sales would have posted a rise over the month of 2.4%
HIA chief economist Harley Dale called the October result “modest” but “a move in the right direction”.
The pick-up in home sales follows a 0.9% rise in residential construction activity over the September quarter as recorded by the ABS, which Westpac and CommSec said pointed to an upswing in the sector.
Most of the monthly increase was the result of an increase in the sales of apartments.
The HIA New Home Sales report showed a substantial 31.4% increase in the sale of multi-units in October while detached house sales fell by 2% in October, the fifth decline in six months.
“Scratching below the surface, new home sales in October were a mixed bag. Within the weak headline result for detached houses there were modest increases for New South Wales, South Australia, and Western Australia, albeit from very low bases,” says Dale.
“Detached house sales in Victoria were a big drag on the aggregate result in October, slumping by 12.1%. If you take that result out of the mix then detached house sales actually posted a rise of 2.4%.”
“We need to see evidence emerge in coming months of a stronger, broader based recovery for new home building.
“The fact we don’t have that evidence now is precisely why the Reserve Bank of Australia should cut interest rates next Tuesday.”
“Further action on rates next week would bolster the chances that we see a sustained recovery in new home building in 2013. Right now the jury is still out on that,” he says.
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Steep fall in Victoria new home sales prevents stronger October recovery: HIA

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The Senate Committee report into the post-GFC banking sector has called for an independent "root and branch" inquiry into the Australian financial system.
“While Australia avoided the worst of the crisis, this should not be allowed to result in complacency about the structure and performance of our financial system.
“There is now an opportunity to conduct a comprehensive examination of the banking sector and to debate what the post-crisis sector should look like and whether it is delivering what Australians want from it,” says the report.
The report follows more than 150 submissions from banks, mortgage brokers, borrowers, the RBA, non-banks and other industry participants as well as public hearings.
The inquiry was triggered over concern surrounding the handling by Bankwest of its loan book and a major focus of submissions related to the bank’s treatment of small business borrowers.
“Most of the evidence received by the committee was from aggrieved borrowers of Bankwest who alleged mistreatment by the bank after Bankwest was acquired by the Commonwealth Bank of Australia in 2008 at the height of the global financial crisis,” says the Senate committee report.
While noting the “many sad and distressing stories” that are now a matter of public record, the committee said the more challenging times presented by the GFC “placed extra stress on less robust and more speculative projects.
“In many cases, loans were sought for ventures that were a considerable risk even during the more stable economic environment that existed prior to the GFC."
 But the committee said this explanation did not apply to every case, “nor does it excuse Bankwest”.
“Under its previous owners Bankwest was willing to enter into these loans.
 “When its small business borrowers are experiencing difficulties, Bankwest has a duty to make genuine attempts to work with the borrower, to clearly explain what is happening and why, and to treat them with courtesy.”
As a consequence, the report calls on the Australian Bankers' Association (ABA) to meet with small business representatives to “develop a code of practice specifically relating to lending to small businesses” which provides greater transparency in lending contracts” and give SMEs access to valuation reports.
The report also acknowledges the “multiple upward pressures on the cost of funds since the crisis and it is likely that costs will remain elevated”.
“Banks continue to adjust to higher post-crisis funding costs as they compete for available deposits and rollover longer-dated wholesale funds obtained at lower pre-crisis prices,” says the committee’s report.
It calls for further steps to support the recovery of the securitisation market, which has “helped enable stronger competition in the sector” and recommends the abolition of the foreign investors’ withholding tax, recently doubled by the government, if it can be accommodated in the budget.
The tax is charged on income paid to foreign investors who invest in managed schemes, many of which fund large infrastructure and property projects in Australia.
The committee says the tax “distorts funding decisions and is an impediment to foreign banks competing in the Australian banking sector”.
“The tax burden may also be simply passed on to borrowers.”
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Senate committee calls for comprehensive banking sector inquiry, code of conduct between banks and SMEs and abolition of withholding tax

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Stockland has confirmed the appointment of UBS investment banker Mark Steinert as the property developer's next managing director and CEO, replacing Matthew Quinn.
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The appointment was made by Stockland chairman Graham Bradley, who said it was a unanimous board decision.
Steinert had beeen tipped as new CEO by The Australian's Bridget Carter just over a week ago.
Steinert will join Stockland on January 14, succeeding Quinn, who has been managing director since 2000.
Quinn will remain in his position until January 11 "and will provide counsel and support as requested for three months from his end date to ensure a smooth transition to new leadership".
“The Stockland board is delighted to welcome Mark as our new managing director and CEO. Mark has a track record of successfully managing large business operations, an extensive background in the property sector and a strong reputation among property investors," says Bradley.
“Mark has a track record of successfully managing large business operations, an extensive background in the property sector and a strong reputation among property investors," says Bradley. 
Steinert says he is “honoured and excited to take up this opportunity to lead a truly great Australian company”.

He will be only Stockland’s fourth managing director.


Steinert’s appointment was also supported by Quinn, who said the incoming managing director had the "right qualities to drive the company’s long-term success".


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Stockland confirms UBS banker Mark Steinert as new managing director

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The chief executive of the Victorian government’s urban renewal and development authority, Places Victoria, has stepped down as one in four jobs have been cut among staff from the organisation.
Sam Sangster resigned after six-and-a-half years with Places Victoria.
Places Victoria replaced the previous development authority VicUrban last year and overseas large scale urban renewal projects such as Docklands, house and land releases across Melbourne and Victoria and other commercial developments such as urban renewal projects in Wodonga and the Officer Town Centre in Cardinia Shire.
Yesterday, Places Victoria announced that a “number of positions would become redundant in response to a downturn in the property development market and a subsequent repositioning and restructuring of the organisation”.
The restructure, which will see full time job numbers cut from188 to 135 by March next year enabling the organisation to “reduce its portfolio of undeveloped land assets and maintain a focus on the identification and development of large precincts along with the identification of urban sites, that have further housing and workplace potential’ .
Sangster will step down early next year having only been appointed CEO in November last year.
“Places Victoria has to balance delivery of services to the urban development sector with meeting the policy objectives of government. The reduction in portfolio, restructure and redundancies are a reflection of the same pressures that the private sector is facing,” said the organisation in a statement.
His resignation follows chairman Peter Clarke stepping down on full pay in August while an ASIC investigation is resolved regarding the collapse of Australian Property Custodian Holdings Ltd, manager of the Prime Retirement and Aged Care Property Trust. Clarke was a director of APCHL. ASIC is investigation allegations that directors breached their duties.
Deputy chairman Ken Fehily is standing in as acting chairman for the duration of the investigation until a resolution is reached.
Places Victoria reported a loss of $18.8 million in its 2011-12 annual report amidst a “challenging economic environment for the property development industry”.
The annual report included property write-downs of $42 million due to the downturn in the market.
 
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Victorian government’s urban development CEO resigns amid job cuts and market downturn

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Capital city hotels will continue to appeal to both local and offshore institutional investors due to rising demand from both overseas Asian visitors and more Australians choosing to travel locally, according to the latest hotel outlook report from Deloitte Access Economics.
However, much of the strong pick-up in domestic travel is business related, with a negligible rise in the number of Australian travelling domestically for holidays over the past 12 months, meaning regional hotels and coastal resorts are set to continue to struggle.
According to Deloitte, nationwide occupancy rates reached 65.9% in the year to June 2012, up from 64.8% over the year prior, but occupancy rates are much higher for capital city hotel markets, where many overseas buyers have made acquisitions and launched new developments.
The research firm forecasts that growth in the average room rate of 3.7% per year will underpin average annual revenue per available room growth of 4.3% over the next three years.
Perth has strongest outlook and represents very strong demographics for investors with a current occupancy rate of 86% for the year to June 2012, suggesting very little spare capacity, especially during the week when business travel is at its peak.
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The opening of the 236-room Fraser Suites (pictured below) in October will help ease capacity constraints, and Deloitte forecasts occupancy rates to rise to 88.2% in the year to June 2015.
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Mining-related construction activity, set to peak in 2014, will place added pressure on Perth room rates, which are forecast to increase by 10.3% per annum over the next three years.
Yields are forecast to grow by 11.3% per annum over the same period, rising from $165 in the year to June 2012 to $257 in the year to June 2015.
Sydney occupancy rates are forecast to rise from 85.4% currently to 87.7% in the year to June 2015, with revenue per available room (RevPAR) expected to grow by 4.5% over the next three years from $162 for the year to June 2012 to $185 for the year to June 2015.
Melbourne’s occupancy rate is expected to rise from 80.5% currently to 85.5%, with RevPAR forecast to grow by 6.2% per annum over the next three years, while Brisbane occupancy rates are forecast reach 81.9% by June 2015. Apart from the Mosaic Grand Chifley, opening next year, there is little in the supply pipeline. Brisbane room rates are forecast to grow by an average of 5.7% per annum over the next three years, while growth in yields is expected to be 6.2% per annum.
Deloitte forecasts international visitor arrivals to grow by an average of 4% per annum between now and June 2015 and international visitor nights to grow by an average of 4.3%.
The number of international visitors coming to Australia grew relatively modestly in the year to June 2012, but numbers are expected to pick up, with Deloitte forecasting above average growth.
“The headline growth in international arrivals continues to mask vast divergences across source markets, with China growing at double-digit pace while some traditional source markets (including Japan and the UK) contract.
“Over the next three years, more than 75% of the growth in international visitor nights will be from Asian travellers. Asia is, and remains, the key, and China continues to present a huge and long term opportunity,” says Deloitte Access Economics’ Lachlan Smirl.
"Local travel activity is also rebounding strongly, with domestic growth at their strongest in a decade,” he says.
“Domestic overnight trips increased by 5.8% for the year to June 2012, while domestic visitor nights grew by 6.7%,” Smirl says.
“Domestic visitation has now almost returned to pre-GFC levels and our forecast for growth in domestic visitor nights has been revised upwards, to an average of 1.3% per year over the next three years.
“This positive news is tempered slightly, however, by the mix of domestic travel type, with almost all of the growth in domestic visitor nights attributable to business travel and those visiting friends and relatives.
“Business visitor nights increased 9.2%, while friend and relative visits grew 13.8% in the year to June 2012. Domestic visitor nights by holiday travellers rose by just 0.4%, continuing the trend of sluggish growth in the domestic leisure segment.
“Looking forward, there are strong indications that the domestic tourism market is moving to a positive trend and, while the growth outlook is still moderate, the story is very much an encouraging one.”
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Perth heads strong capital city hotel outlook with business travel trending upwards: Deloitte

<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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“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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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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[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.

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[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.

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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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Larry Schlesinger

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