<html><body>
The Forsyth Barr &amp; Bayleys Towers on Wellington’s Golden Mile retail strip have been sold to private investment company Robt Jones Holdings (RJH) for NZ$50.5 million (A$39.67 million).
The acquisition consists of three buildings situated at 165-77 Lambton Quay – two 22-level office towers and ground floor podium building housing Wellington’s most well-known department store Kirkcaldie &amp; Stains.
Kirkcaldie &amp; Stains is one of New Zealand’s oldest businesses and is the country’s largest locally owned department store, occupying 6,617 square metres of space.
The combined office space in the two towers is more than 9,500 square metres.
The three properties bring in initial annual net income of NZ$4.4 million, equating to a yield of around 8.8%.
The sale campaign was led by CBRE’s Ryan Johnson, Brent McGregor and Mark Hansen, which attracted six offers from investment groups based in Wellington and Auckland.
RJH Wellington manager Sam Cooper says the purchase reflects the company’s positive attitude towards Wellington and the city’s future prospects.
“The recent, heavily published suggestion that Wellington is in danger of becoming an economic backwater struck us as silly in the extreme,” he says.
“It is certainly inconsistent with our own experience as the CBD’s largest building owner given the steady demand we encounter for quality office space.”
</body></html>

lschlesinger-FZcF9M3vE6

Wellington's Forsyth Barr & Bayleys Towers sold for NZ$50.5 million

<html><body>
The list of potential candidates to replace Matthew Quinn a Stockland chief executive has another new name with former Westpac retail banking executive Rob Coombe thrown into the mix.
Coombe is well known to Stockland director Carolyn Hewson who spent 10 years on the Westpac board.
Coombe recently gave a presentation to the Stockland board, according to a report in the Australian Financial Review.
Earlier this week it was reported that Stockland chairman Graham Bradley had met with <a target="_blank" href="/news">New York-based Australian investment banker Mark Steinert</a>, who has also been tipped as possibly filling Quinn’s shoes.
Coombe stepped down as head of Westpac’s retail and business banking division in November last year after a career spanning nearly thirty year’s at Westpac, in its various guises.
He was appointed chief executive of Westpac’s wealth management subsidiary BT in 2004 and in 2010, was appointed group executive retail and business banking at Westpac.
He would be a left-field appointment for Stockland given he has no direct experience in the property development market – Bradley though has stressed the Stockland board is looking beyond the property sector for candidates.
Previous names touted as possible replacements for Quinn include Australand managing director Bob Johnston, Westfield chief financial officer Peter Allen, Rod Leaver, CEO of Lend Lease Asia, former St George Bank CEO Paul Fegan, David Southon, co-founder and joint managing director of Charter Hall, veteran Macquarie banker Matthew Banks and the only internal candidate, John Schroder, current chief executive of commercial property at Stockland.
A spokesperson for Stockland told Property Observer earlier this week it has yet made a decision about who would replace Quinn and that the search for a replacement is ongoing.
Quinn is due to step down in February.
</body></html>

Former Westpac executive Rob Coombe tipped as possible Stockland boss

<html><body>
Property investors should avoid buying an apartment that does not come with a parking space, says investment adviser Monique Sasson Wakelin.
Sasson Wakelin says there are plenty of developers and estate agents “flogging carspaceless apartments” who are happy to tell would-be investors that it is a good idea to buy these sorts of properties.
“They talk about the paradigm shift away from car ownership and all those tenants happy to limit car use to the occasional hire vehicle for weekends away,” she says in a News Limited newspaper column.
But while there are some people who are happy not to own a car, they remain in the minority.
Wakelin says this is borne out in the 2011 census data, which shows that more than four-fifth (81%) of households own one or more cars.
Among those who live in apartments and flats, the figure is slightly lower at 75%.
Sasson Wakelin says her advice has remained steadfastly constant on this issue: “Don’t handicap your investment property by restricting the pool of potential tenants and future owners. A car park space is a must."
Delving further into the census data shows that 77% of Australian use a motorised vehicle to get to work and only 12% take public transport – the rest cycle, walk or work from home.
But Sasson Wakelin says investors being close to public transport is still important for an investment property.
She says being close to public transport is a “major plus” for investors because 1.7 million Australians work in the city or in the surrounding inner suburbs, making it “neither desirable nor feasible for everyone to drive to their place of work”.
Demand for property remains high in suburbs that have good public transport options because it means they can choose between their car and catching a bus, train, tram or ferry, says Sasson Wakelin.
</body></html>

Don’t invest in apartments without a car park: Monique Sasson Wakelin

<html><body>
The WA government is proposing changes to the Residential Tenancies Act that would require landlords to fit a single deadbolt lock on every front and back door as well as locks on all other external doors and windows.

Property Observer estimates it could cost landlords anything from $150 to hundreds of dollars to satisfy the proposed new requirement, depending on the number of doors and windows in a property.

The current guide to renting out property (prepared by WA’s consumer protection division) says for landlords to comply with the act, they “need only provide normal locks to external doors and ensure all opening windows can be secured by catches on the inside”.

The changes have been proposed by Finance Minister Simon O’Brien and are due to be introduced next year.

O’Brien says the changes are in response to feedback following a review of the act including from anti-domestic violence groups, who claimed deadbolts were needed for vulnerable women and to make easier for tenants to get home contents insurance.

However, the legislation has been slammed from within O’Brien’s own government, with Liberal backbencher Michael Sutherland writing to complain on behalf of his constituents about what he calls “petty regulations”.

"I am amazed that the government is getting down to this level of minutiae," Sutherland wrote, according to a report in the West Australian.

It has also been criticised by the Real Estate Institute of Western Australia (REIWA), which describes the requirements as placing unrealistic expectations upon owners and exceeding the security levels that the average home owner would have.

The REIWA says security concerns are rarely raised as part of the 10,000 tenancy enquiries it receives each year.

</body></html>

WA landlords could be locked into deadbolt requirements for rental properties

<html><body>
LandMark White Group chairman Stuart Gregory has given a gloomy assessment of the state of the commercial property market noting that accessing funding from lenders remains a key constraint.
“In a sense I could simply refer you to my address from last year. In this post-global financial crisis environment very little seems to have changed,” is how Gregory began his AGM address to shareholders this week.
Gregory says that while the residential valuation business continued to perform well, “the recurring theme continues to be the limited lending into the commercial and development markets, the markets that most affect our commercial valuation practice”.
LandMark White managed profits of $800,000 for the 2012 financial year to June 30, down 6.4% from $900,000 in the previous financial year.
Gregory says these results were achieved in “another very difficult year in the property industry”.
“The market remains patchy and for property valuations is dependent on the availability of funding and the appetite of financial institutions to lend into both commercial and residential markets,” said Gregory.
However, while residential lending remained “reasonably positive” he says the group “cannot anticipate with any certainty the banking industry’s support or otherwise of the commercial property market”.
LandMark White declared a dividend of 3¢ per share for the financial year.
</body></html>

Funding constraints continue to hamper commercial property market: LandMark White chairman 

<html><body>
Former LJ Hooker Pymble estate agent David Johnson has been disqualified from holding a real estate agents' licence for eight years.
He has also been disqualified from being involved in the management of a company for eight years following the completion of an investigation by the NSW Department of Fair Trading.
<a target="_blank" href="https://www.propertyobserver.com.au/industry-news/lj-hooker-terminates-pymble-franchise-office/2011090151388">LJ Hooker terminated</a> the franchise agreement with its Pymble and Lindfield office franchisee, Johnson Prestige Realty Pty Ltd, due to a breach of the franchise agreement in September last year.
The office had been responsible for many prestige sales on Sydney’s north shore.
NSW government licensing service (GLS) records shows that David Michael Johnson of 987 Pacific Highway was disqualified on November 8 until November 8 2020.
His disqualification from being involved in the management of a company runs over the same period.
</body></html>

Former LJ Hooker Pymble agent David Johnson banned for eight years

<html><body>
A commercial investor has bought a corner commercial building in Redfern, Sydney, for $5.15 million, paying $1.25 million above the reserve at auction.
The tenanted property at 401-409 Cleveland Street on the corner of Crown Street and Cleveland Street was sold by Arissa Property Group director Frank Scarf on behalf of Gordon Salier, trustee of the deceased estate of the late Edmond Wardy.
The property had been in the family for 20 years.
Five bidders competed for the <a href="/news">Redfern </a>property in a “spirited” auction, according to Scarf.
It stands on an 809-square-metre site with an approximate gross floor area of 1,403 square metres.
The building brings in a current passing income of $312,000, which represents a passing yield of 6%.
The ground floor comprises a café, bakery, hair salon, Turkish restaurant and a large vacancy formally tenanted by Blockbuster video on the top floor.
The first floor is an open plan commercial space.
Also at the same auction, Arissa Property Group sold a level block of approximately 685 square metres at 74 Mitchell Road, <a href="/news">Alexandria</a>, 10 minutes from the CBD.
It sold under the hammer for $1.9 million to a private developer on behalf of the same trustee of deceased estate of late Edmond Wardy and has a current net income of $84,196 with a 4.4%.
“We’re seeing a lot of investor interest in the inner-city region, which is very promising for Sydney’s ongoing market growth,” says Scarf.
</body></html>

Investor pays $1.25 million above the reserve for Redfern commercial building 

<html><body>
A Sydney real estate agent who operated a business in Oatley while unlicensed has been ordered to pay fines and costs totalling more than $20,000, following a NSW Fair Trading investigation

Mike Damcevski from Earlwood was ordered to pay $2,833 in fines and costs, $10,800 in consumer compensation and $7,217 to the Property Services Compensation Fund by the Parramatta Local Court.

In addition to operating without a real estate licence, Damcevski also failed to account for rent collected on behalf of two property owners.

Damcevski held a real estate agent’s licence from April 2003 to April 2006 and from November 2006 to November 2007.

NSW Fair Trading Commissioner Rod Stowe said Fair Trading investigated Mike Damcevski’s conduct after being made aware through a consumer complaint that he was carrying on the business of a real estate agent without holding a real estate agent’s licence.

The investigation found Damcevski had undertaken unlicensed activities including the managing of rental properties, collection of rent money and the receipt of commissions in relation to that money.

Damcevski did not respond to NSW Fair Trading’s correspondence and failed to attend a voluntary interview with Fair Trading investigators to respond to the allegations against him.

He also failed to account for rent collected on behalf of two property owners. The properties were managed and the rent was collected by Damcevski, but he did not remit the net rent collected to the property owners, and consequently they suffered financial losses.

One owner made a claim on the Property Services Compensation Fund of NSW, and the claim of $7,217 was paid by the fund.

The second owner has been awarded compensation by the court, which ordered Damcevski to reimburse the property owner $10,800.

</body></html>

Unlicensed Oatley agent fined $20,000 following NSW Fair Trading investigation

<html><body>
There are a variety of far-flung outer Sydney suburbs that may appeal to buyers looking to escape the rat race, but still want to be within commuting distance of the city, according to the November property market report from valuers Herron Todd White.
Buying a lifestyle property in the outer suburbs offers the opportunity to make capital gains in the long term, but HTW warns that “short-term gains are very susceptible to market conditions of the time and new projects can have extended selling periods”.
Since the GFC prices for beachfront properties or those located close to the beach with water views have been the hardest hit
South of the city, HTW suggest buyers consider <a href="/news">Bundeena </a>in the Sutherland Shire, about 35 kilometres from the CBD and reached via a “long and winding road through the Royal National Park".
However, potential buyers are warned that commuting time to the city can double during periods of heavy rain, when the Audley Weir (which allows vehicle access across the Hacking River) is closed, forcing commuters to divert south and take a much longer alternative route along the Princes Highway.
“Housing options include weekend cottages, architect-designed residences and everything in between,” says HTW, with prices ranging from $500,000 for a basic cottage to $3 million for a large modern beachfront residence.
“Services include a small local retail strip, petrol station, bowling club, RSL club and primary school. A limited ferry service runs across Port Hacking to Cronulla for those who wish to commute via train to the CBD and other parts of Sydney.”
Local residents include young families and retirees as well as a location for a holiday house not too far from the centre of Sydney.
North of the city, HTW suggests the islands and beaches of Pittwater such as <a href="/news">Scotland Island</a>, <a href="/news">Lovett Bay</a>, <a href="/news">Elvina Bay </a>and <a href="/news">Morning Bay</a>, which can only be reached by ferry or private boat.
“Pittwater offers basic services with shopping, schools and medical facilities on the mainland only.
“Consequently buyer profile is varied and is generally young professionals or empty-nesters,” says HTW.
Property options are also varied and include small weekend cottages and family homes available from the mid -600,000 to $800,000, with asking prices in excess of $1.5 million for waterfront property with modern dwellings and a private jetty.
Another outer-suburban region picked by HTW is the Hawkesbury region, which offers small and large scale acreage properties, riverfront sites and residential blocks in small villages.
“This area is serviced via the regional centres of Richmond and Windsor which provide most, if not all of the necessary amenities.
“Public transport options are limited and this is seen as the biggest negative. There is a railway station at Richmond, but it is a single line and services are limited.”
HTW says this property market tends to follow the same market movements as the wider Sydney metropolitan areas.
“However acreage lifestyle property in areas such as Kurrajong and Pitt Town tend to be more susceptible to rapid market movements.
“This is also the case with property fronting the Hawkesbury River, with extended marketing periods experienced.
“Prices range from $300,000 for a basic residence up to $2 million for prestige acreage/riverfront property.”
HTW valuer Kieran Clair in his introduction to the November report, says outer suburbs are an attractive option for many buyers with most having “some ready transport links, general facilities and sometimes a more rural sense of community”.
“They are areas where your dollar, like your vehicle, travels a little further but if princess wants a pony and the master of the house needs some well-established trees to climb, the far flung locales are just the thing,” he says.
</body></html>

Bundeena and Pittwater among far-flung Sydney suburbs offering city retreat, but at a cost: HTW

<html><body>
Property investors are showing an increasing interest in investment properties priced under $300,000 in the NSW regional town of Tamworth, most famous for its country music festival held every January.
The increased activity is being spurred on by a combination of strong population growth, low vacancy rates and restricted supply of accommodation, according to a new report from PRDnationwide.
<a target="_blank" href="/news">Tamworth </a>is in the New England region of NSW about five hours (400 kilometres) north of Sydney, with its major economic drivers being manufacturing, health and community services, education, logistics, wholesale trades, and tourism and hospitality.
According to PRDnationwide research analyst Oded Reuveni-Etzioni Tamworth homes priced under $300,000 accounted for 64% of transactions over the six months to August 2012, compared with 54% of transactions for the same period in 2011.
Current Tamworth listings suggest gross yields in excess of 7% are achievable for properties priced well under $300,000
They include this <a target="_blank" href="https://www.realestate.com.au/property-house-nsw-tamworth-111992003">three-bedroom house</a> (pictured below) on a big block on Churchill Street advertised through Richard Jackson of PRDnationwide Tamworth at $192,000. Jackson says the property can generate a rental of around $265 per week – a potential yield of 7.2%.
<img src="/images/stories/2012/11/tworth.jpg">
According to October Real Estate Institute of NSW vacancy rate figures, New England’s vacancy rate eased from 2.3% to 2.6% but is still down on the 3.4% vacancy rate recorded in March this year.
Reuveni-Etzioni says house activity has stabilised over the past 18 months, with 425 houses transacting in the August 2012 half year period.
“This level, while short of the August 2009 peak, represents a balanced market. Enquiries from upgraders and investors have increased in September and October even though first home buyers interest declined following the cessation of the $7,000 first-home owner grant.”
“Demand for properties toward to bottom end of the market originated from first-home buyers and investors. While first-time buyers’ activity has eased, investors are still active, looking for solid yields in the six to seven per cent range.”
Reuveni-Etzioni says median rents for a three-bedroom house in Tamworth, the most common form of accommodation in the region, have increased by 14% in the three years to September 2012, “highlighting a shortage in supply of medium-density accommodation, amid a growing demand.
“While yields for units normally exceed house yields, a lower yield in Tamworth’s case was the result of an increase in the median unit price,” he says.
“The August median unit price of $199,500 represented a 12 months growth of 5.3%, which eroded the yields for some properties but otherwise provided a positive return to investors in the form of capital growth," he says.
According to Dean Cummins, principal of PRDnationwide Tamworth, Tamworth City is a good investment option particularly at the cheaper end of the market.
“Also, employment in the region is sound, with lots of new people moving into the area and vacancy rates of less than 2%,” he says.
</body></html>

Investor activity on the rise in Tamworth property market with yields of 7% possible

<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>

Larry Schlesinger

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News