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The consortium that wins the rights to redevelop the Sydney convention centre at Darling Harbour will need build an additional 1,000 hotel rooms, according to the Tourism and Transport Forum (TTF).

The tourism industry lobbying group says building the right number of hotel rooms is vital to the success of the project.

“We think the number of hotel rooms that result from the development is vital to get Sydney back as the number one convention centre – and that means a hotel of 1,000-plus rooms,” said John Lee, head of the TTF, in an article in the Australian Financial Review.

Lee recalled the redevelopment of the Melbourne Convention and Exhibition Centre at South Wharf, where only an extra 250 hotel rooms were added – not enough in his view.

Currently Barangaroo developer Lend Lease and the Plenary Group are leading the two consortiums that are in the running to be awarded the $1 billion contract.

An announcement on the winning tender is expected to be made before Christmas.

Redeveloping Sydney’s International Convention, Exhibition and Entertainment Centre is one of the election promises of the NSW state government.

Construction of interim facilities on Glebe Island are due to begin in mid-2013, with the existing facilities at Darling Harbour closed from November until a re-launch in 2016.

Redevelopment plans include the building of the largest exhibition space in Australia at 40,000 square metres, the biggest meeting room space in Australia at 6,000 square metres and the biggest Australian convention hall with capacity of more than 10,000 people.

The new convention centre will be developed as a public private partnership (PPP) in conjunction with Infrastructure NSW (INSW).

The convention centre contributes up to $460 million to the NSW economy every year.

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Darling Harbour needs at least another 1,000 hotel rooms for new convention centre: Tourism and Transport Forum

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Current Moranbah residential listings offer investors the potential to earn rental returns approaching 20%, but the Queensland mining town remains at the mercy of mining companies when it comes to signing new leases.
Moranbah topped the latest list of 40 localities with the highest rental yields for houses, according to information provided by RP Data, with a<a target="_blank" href="https://www.propertyobserver.com.au/landlords/east-coast-australia-s-top-40-highest-rental-yield-suburbs-from-moranbah-to-tregear/2012112057965"> gross rental yield of 12.9%.</a>
Rents are still be advertised as high as<a target="_blank" href="https://www.realestate.com.au/property-house-qld-moranbah-408246811"> $3,500 per week for a four-bedroom house</a> but also as low as $400 per week for <a target="_blank" href="https://www.realestate.com.au/property-house-qld-moranbah-407750317">a three-bedroom house</a> with local agent John Wood of Moranbah Real Estate telling Property Observer "Moranbah has changed over to last few months with now a lot of rental stock on the market".
In June it was reported that mining giant BHP Billiton Mitsubishi Alliance (BMA) was refusing to sign new leases in <a target="_blank" href="/news">Moranbah, </a>with controversial plans for a mining camp to cheaply house 3,200 workers.
The dependence of Moranbah on mining companies paying big rents was revealed in the official census 2011 data, which shows that households (mining employees) are paying just $80 per week to rent in Moranbah, with the bulk of the rental bill picked up by their employers.
Even if mining companies do not build cheap housing, they can also reduce demand for housing by increasing fly-in-fly-out (FIFO) arrangements for their employees.
<img src="/images/stories/2012/11/moranbahmap.gif">
Indeed, in a recent Property Observer webinar, <a href="/news">Hotspotting.com.au’s Terry Ryder named the Whitsundays</a> as a fly-in-fly-out (FIFO) hotspot servicing mining towns like Moranbah. Terry Ryder did not include Moranbah on his list of investment hotspots despite returning average annual capital growth of 25% over the past 10 years.
All of this highlights what investors in single-industry mining towns should already know – that they are very high-risk investments in locations where prices and rents can be transitory and most probably have been artificially inflated.
 
<hr class="system-pagebreak">
 
Current listings show very high yield potential but many listings have leases expiring within the next few months.
Whether new leases can be renegotiated at similar weekly rental rates remains uncertain.
Current listings include <a href="https://www.realestate.com.au/property-house-qld-moranbah-110289249" target="_blank">this new four-bedroom house</a> (pictured below) listed at $759,000 by Vikki Oldfield of Vision Real Estate and rented at $2,900 per week until February.
<img src="/images/stories/2012/11/hannay.jpg" width="470">
This equates to a gross rental yield of 19.8%.
Another property offering these sorts of returns is <a target="_blank" href="https://www.realestate.com.au/property-house-qld-moranbah-111433843">this three-bedroom house</a> situated in a cul-de-sac on Bowen Court which is listed at $590,000 and is currently rented at $2,000 per week – a gross yield of nearly 18%.
<img src="/images/stories/2012/11/boewn.jpg" width="470">
RP Data records show the property last sold for $445,000 in May last year, indicating capital growth of over 30% (should it sell at the advertised price), but more staggering are the rental increases.
Three years ago, the property was listed for rent at just $650 per week.
Not all properties are offering such generous returns, with yields ranging from around 7% including <a href="https://www.realestate.com.au/property-house-qld-moranbah-111723591" target="_blank">this three-bedroom house on Ney Street (pictured below) </a>being offered at $515,000 through Julie Williamson Real Estate. The property is rented at $750 per week until February. It last sold for Last sold for $335,000 in 2005.
<img src="/images/stories/2012/11/ney.jpg" width="470">
Another listing (pictured below) by Vikki Oldfield <a target="_blank" href="https://www.realestate.com.au/property-house-qld-moranbah-112222627">is asking $710,000</a> with a current weekly rental of $1,600 per week.
<img src="/images/stories/2012/11/naumann.jpg" width="470">
However, RP Data records show the property was available for rent in April 2010 and June 2011 at the same weekly rate – suggesting anecdotally that rents may have reached their upper limit.
 
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Moranbah current listings offer yields nearing 20%, but future returns less certain

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Small investors have the opportunity to acquire a prime retail spot on tightly held Swanston Street, with a small shop on the ground floor of the iconic Manchester Unity Building listed for December 6 auction.
The vendors were swayed to offer the property to the market after a 5.6% yield was  achieved next door when Shop 2, 220 Collins Street sold earlier this year for $9,250,000 with sale negotiated by CBRE’s Josh Rutman, Mark Wizel and Max Cookes.
The<a target="_blank" href="https://www.realcommercial.com.au/property-retail-vic-melbourne-500494095"> 97 Swanston Street</a> retail space is currently tenanted by foreign exchange business Travel Money Oz, owned by ASX-listed Flight Centre, on a new seven-year lease.
The premises currently brings in net annual income of $122,494 per annum.
The shop stands on one of the busiest retail strips in the Melbourne CBD and on the high premium western side of the street between Collins Street and Bourke Street mall.
It is next door to the premises of a <a target="_blank" href="https://www.propertyobserver.com.au/retail/private-investor-snaps-up-collins-street-telstra-store-premises-for-%249.25-million-ahead-of-auction/2012032854057">Telstra corner shop at 220 Collins Street, </a>which sold to a private investor prior to auction for $9.25 million on a yield of 5.6% at the end of March.
The marketing campaign for 97 Swanston Street is also being led by CBRE.
“Anything sub-$4 million in the CBD is pretty unique,” Rutman tells Property Observer.
He says there are a number of other factors that are drawing in potential bidders.
These include that it is leased to an ASX-listed tenant on a brand-new lease bringing in $122,000 per year, with the tenant agreeing to 5% annual rent increases every anniversary of the lease.
“This means it has the potential become a positively geared asset quite quickly,” says Rutman.
The property is being sold by a group of private investors.
“It’s one of the tightly held retail strips in the CBD. I have spoken to four or five owners who have owned shops on Swanston Street for 20 to 30 years,” he says.
According to the Melbourne City Council Research Department, over 15 million pedestrians walk past the property annually, which equates to almost 50,000 per day.
“We expect the location of the property to provide continual growth over the next decade, which we believe will help drive significant interest from local, national and international investors.” says Wizel.
It is due to be offered for sale by public on-site auction at 12.30pm on December 6.
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Swanston Street retail premises listed for auction 

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Fund manager the Trilogy Capital Group has relisted the global headquarters of travel guide publisher Lonely Planet in Footscray following an unsuccessful six month sales campaign last year.
Lonely Planet, which is owned by the BBC, has leased the distinctive red-brick campus office building since 2000 and has another four years to go on its current lease.
The four-level building comprises a total lettable area of approximately 7,374 square metres, with ground-floor parking for 86 cars and a small warehouse distribution centre on-site.
<img src="/images/stories/2012/11/lp.jpg">
The lease agreement includes annual rental increases of 3.5%, with Lonely Planet paying a current net passing rental of $1.64 million per annum.
The property at<a target="_blank" href="https://www.realcommercial.com.au/property-offices-vic-footscray-5835771"> 90 Maribynong Road </a>is the sole asset that makes up Trilogy’s Melbourne campus office syndicate, a five-year fixed-term investment fund, which returned 9.82% in the 12 months to March.
Trilogy acquired the building for $14.4 million in mid-2005 and will be hoping for around $16.4 million, representing a yield of around 10%.
It was listed for sale from April to October last year with a slightly higher asking price of $17 million but failed to sell.
Trilogy head of property assets David Hogan says the fund decided to put it back on the market due to the improved market conditions compared with a year ago.
The property is being marketed by Colliers International agents Peter Bremner and Jeremy Gruzewski.
Gruzewski says the building had been refurbished to meet Lonely Planet’s requirements and has been maintained to an incredibly high standard.
“Externally, the building has an appealing brick period-style façade, however it is the unique, lofty internal open plan office accommodation that really sets this building apart from every other office building in the metropolitan office market,” he said.
“In addition, the top floor boasts stunning views back towards the Melbourne CBD skyline.”
Gruzewski says the property represented a rare opportunity for an astute investor to purchase a high yielding, fully leased commercial property less than 5km from the Melbourne CBD in a rapidly growing and thriving suburb.
“Footscray is transforming itself into a vibrant activity centre,” he said.
The three upper floors incorporate an open plan office space as well as a rooftop staff room/canteen, gymnasium and entertainment/recreation area.
Having shrunk its staff numbers by around 70 in 2011 (15% of its workforce), Lonely Planet is seeking to sub-lease up to 1,500 square metres of the first floor of the building, with the space being marketed by Richard Norman and Matthew Collins of Jones Lang LaSalle at around $200 per square metre.
The property is for sale by expressions of interest, closing Thursday December 6 at 4pm.
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Lonely Planet Melbourne headquarters relisted with $16.4 million hopes

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New York-based Australian investment banker Mark Steinert has being tipped as the person to replace Matthew Quinn as managing director and CEO of developer Stockland.
Steinert, global head of product development at UBS Global Asset Management, held talks with Stockland chairman Graham Bradley last week, according to a report in the The Australian.
His first role at UBS was as global head real estate research, a position he held for eight years.
A spokesperson for Stockland told Property Observer it had not yet made a decision about who would replace Quinn and that the search for a replacement is ongoing.
Quinn announced his decision to retire after 12 years in the role in July and is due to step down in February.
Steinert is a new name in the mix of potential 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.
Bradley has said recently that Stockland would consider a candidate from the financial services sector as was the case with fellow listed property group GPT, which recently appointed Michael Cameron, former group chief financial officer of the Commonwealth Bank, as its managing director and CEO.
As part of his address to the Stockland AGM on October 17 Bradley said the search for a new managing director was “progressing well”.
“Following Matthew’s decision, we appointed a board sub-committee to progress the internal and external search process, and appointed a leading international executive search firm to review both local and offshore candidates.
Bradley said a suitable candidate would be an “outstanding individual capable of providing strategic leadership in an increasingly complex investment, market and regulatory environment, coupled with all the skills you would expect to find in terms of operational management, people management, business judgement and stakeholder relations appropriate to a top 50 listed company”.
No deadline has been set for making the appointment with Bradley saying at the AGM an announcement was expected “in due course”.
An announcement is expected before the end of the year.
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Expat Aussie investment banker tipped as next Stockland boss

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A Melbourne-based private investor has paid $2.6 million to acquire the premises of St Kilda food and wine bar Phamish, which sits below one of the bayside suburb’s most striking boutique apartment buildings.
The 370-square-metre <a target="_blank" href="/news">St Kilda</a> restaurant is on the ground floor of luxury apartment block 30 The Esplanade, with its curving glass facade reflecting Luna Park and the Palais Theatre live music venue across the road.
The sale price reflects a yield of 6.39% based on a net annual rental of $166,308. The square metre sale rate was $7,027.
The "quick" sale of the restaurant premises was negotiated by Savills agents Nick Peden and Clinton Baxter subject to the space being leased to Phamish restaurant on a 10-year term with five-year renewal options.
Phamish has leased the space since the building’s completion in December 2009.
“This was really prime property. A restaurant with a long-term lease, within a prestigious new residential development which was itself within arguably Melbourne’s most popular dining and entertainment precinct. It was no surprise that a purchaser snapped it up so quickly," says Peden.
“The quick sale was also an indication of the dearth of such opportunities in the market at the moment and the resultant competition for them whenever they do appear,” he says.
The vendor, who declined to be named, was the developer of the building.
The property at 30 The Esplanade is a curving glass building featuring 14 apartments designed by SJB Architects and stands between traditional terrace houses and a McDonald’s restaurant just a short walk from the St Kilda Beach Acland Street retail and food strip.
A two-bedroom apartment in the building is currently listed for sale at $1.3 million through RT Edgar Albert Park while two apartments featuring two bedrooms are for rent at $900 and $1,000 per week.
The standout feature of 30 The Esplanade is its curved glass façade, which employs a "super-imposed graphic, built into the double-glazed window units, with the semi-transparent image placed between each layer to ensure it does not fade over time," according to architects SJB.
“The image references several characteristics inherent to St Kilda’s cultural fabric; the fishnet stockings simultaneously speaks of sex, the seaside and the politics of the promenade,” explained SJB’s Michael Bialek in 2009. “St Kilda has a rich and varied history, from the artists in residence and the European immigrant community that settled in the '50s to the strong tourist numbers that visit the area throughout the year,” he said.
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Investor snaps up Phamish restaurant premises on St Kilda Esplanade for $2.6 million

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ISPT's acquisition of a 50% share of Myer Centre in Brisbane from Colonial First State Retail Property Trust is the biggest shopping centre transaction for the year to date, according to figures compiled by Jones Lang LaSalle.
The sale of the <a href="https://www.propertyobserver.com.au/retail/new-york-based-blackstone-group-buys-top-ryde-mall-for-%24341-million/2012111957931" target="_blank">indebted Top Ryde City shopping centre</a> to US private equity firm the Blackstone Group this week for $341 million ranks as the second biggest deal of the year.
Jones Lang LaSalle head of retail investment Simon Rooney, who advised on all but one of the top 10 transactions, says the sale of the <a href="https://www.propertyobserver.com.au/retail/perron-group-to-acquire-half-stake-in-three-centro-centres-for-%24690-million-setting-post-gfc-commercial-retail-record/2012051754740" target="_blank">Centro portfolio to the Perron Group </a>was clearly the most significant deal of the year. The Perron Group acquired 50% stakes in the  Colonnades in South Australia, the Glen in Victoria and the Galleria in Western Australia for a combined $690.4 million.
Click to enlarge
<a href="/images/stories/2012/11/jllnov20.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/11/jllnov20thumb.gif"></a>
Source: Jones Lang LaSalle
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The top 10 Australian shopping centre deals of 2012: Jones Lang LaSalle

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Aussie Home Loans boss John Symond is doing his bit for prostate cancer research and male mental health awareness by growing a moustache (and tweeting photos of its progress) for the now traditional Movember charity campaign.
Along with new moustache, the Aussie founder has jestingly adopted a new name – John "SyMO”.
<a target="_blank" href="https://twitter.com/Aussie"><img src="/images/stories/2012/11/aussietweet.jpg"></a>
<img src="/images/stories/2012/11/symo.jpg">
Movember was officially started in Melbourne in 2004 and calls on men to grow moustaches over the course of November to raise awareness and donations to tackle prostate cancer and depression.
Others in the industry taking part in the campaign include 27 employees <a href="https://www.propertyobserver.com.au/https://au.movember.com/team/488929" target="_blank">from unlisted property fund manager ISPT</a>, who have to date raised over $15,000 for Movember.
Melbourne-based property valuers and advisers Opteon have raised nearly $4,000, with 25 members of the team growing moustaches.
James Clark, owner of <a href="https://raywhitenundah.com.au/news/movember-at-ray-white-nundah/" target="_blank">Ray White Nundah in Brisbane</a>, is also part of the campaign, as are <a href="https://mobro.co/deanwolfe" target="_blank">Dean Wolfe </a>and <a href="https://mobro.co/chrischapman8" target="_blank">Chris Chapman </a>from Fletcher's Eltham Office.
Potts Point estate agent Simon Polito at Laing Real Estate says he's <a href="https://mobro.co/simonpolito" target="_blank">donating his face </a>to the cause by growing a moustache for the month.
"My Mo sparks conversations, and generates some laughs; all in the name of raising vital awareness and funds for prostate cancer and male mental health.

He says he's passionate about men's health as 1 in 9 men will be diagnosed with prostate cancer in their lifetime; this year 20,000 new cases of the disease will be diagnosed and 1 in 8 men will experience depression in their lifetime.
Despite signs of a softening local economy, NAB’s inaugural Charitable Giving Index has found more Australians are putting their hands in their pockets for charities.
The index found that charitable giving in the seven months to July 2012 increased by 4.7% from the previous year and the average annual donation per donor increased 0.7% to $292.
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Aussie John “SyMO” joins property industry Movember charity campaign

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RBA governor Glenn Stevens has raised expectations for a stronger residential building recovery as well as the likelihood that there will be further rate cuts.
In a speech in Melbourne last night, he said the bank’s main concern was keeping inflation in check while ensuring sustainable growth and pointed out that it was “prudent to sit still for the moment”.
But he indicated a rosier outlook for the struggling residential building sector, with “some of the pre?conditions” needed for a stronger recovery in dwelling construction “coming into place”.
“One area of stronger potential demand growth is dwelling construction, which has been unusually weak,” said Stevens in his address to the Committee for Economic Development of Australia (CEDA) Annual Dinner in Melbourne.
“Various explanations have been offered – interest rates too high, housing prices falling, zoning restrictions, planning delays, construction costs, lack of ‘confidence’, all have featured.
“At present, at least some of the pre?conditions one might expect to be needed for higher construction seem to be coming into place.
“Interest rates have declined, dwelling prices seem to have stopped falling, rental yields have risen, and the availability of tradespeople is assessed as having improved. We have, moreover, seen a rise in approvals to build. So there is some evidence of a turning point, albeit a belated one,” he said.
During the speech, Stevens re-affirmed that the RBA maintained its easing bias and that the decision to leave the cash rate on hold in November was a finely balanced one, with the board assessing whether other areas of domestic demand would start to strengthen as “the peak in the investment phase of the mining boom now coming into view”.
He said the question the Reserve Bank Board tried to answer every month when it sat down to decide the stance of monetary policy is will the net effect of all the different forces shaping the economy (the mining boom peaking, dwelling construction rising, business investment demand subdued, the government aiming for a budget surplus) “mean that aggregate demand rises roughly in line with the economy's supply potential over the next couple of years, or will a significant gap emerge?”
“As of the most recent meeting, as the minutes released earlier today show, the Board felt that further easing might be required over time.
“The board was also conscious, though, that a significant easing of policy had already been put in place, the effects of which were still coming through and would be for a while.
“In addition, the latest inflation data, while not a major problem, were a bit on the high side, and the gloom internationally had lifted just a little.
“So it seemed prudent to sit still for the moment.  Looking ahead, the question we will be asking is whether the current settings will appropriately foster conditions that will be consistent with our objectives – sustainable growth and inflation at 2% to 3%.
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Pre-conditions in place for stronger residential building pick-up but further rate cut may be needed: Glenn Stevens

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Selling Houses Australia television host Andrew Winter has downplayed the impact that overseas housing trends and sentiment have on the Australian housing market and says it remains a “relatively safe haven for real estate and for many nationalities”.
Winter says that in the past overseas trends have had a negligible impact on the "mass housing stock" and only really impacted at the very top end of the market – the “elite bunch” buying homes worth over $30 million.
But in a column for News Limited, Winter says global housing trends can influence demand for property in some suburbs that may be popular with a certain type of overseas buyer, for example buyers from the UK or from Asia.
The other impact of global housing trends, he says, is its ability to influence "our perception of our own housing market”, which has made Australians more nervous about being “infected” which can turn into a self-fulfilling prophecy.
Winter says Australians should bear in though that there are many differences between our market and overseas housing markets, including a different banking system, low mortgage default rates and an undersupply of housing.
“So don't let overseas sentiment unnecessarily influence you, but do keep an eye on the demographic mix of your suburb. If it is changing, overseas influence on your local market can be closer than you think,” he says.
 
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Don't let overseas sentiment unnecessarily influence how you feel about our housing market: Andrew Winter

<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.

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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.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360969]

Much of that daily life can also take place beyond the building without requiring a drive. Kurrawa Beach and Pratten Park are an easy walk from Surf Parade, while Pacific Fair, Oracle Boulevard, The Oasis, restaurants, cafés, entertainment and public transport are also within walking distance.

The Eveleigh is Hirsch &amp; Faigen's fourth Gold Coast development since entering the market in 2021, following The Hemingway at Palm Beach, The Emerson at Kirra and Yves at Mermaid Beach. Each of the preceding projects sold out before completion.

“Broadbeach had been on our radar throughout our time operating on the Gold Coast,” the developer said. “Following our projects in Palm Beach, Kirra and Mermaid Beach, Broadbeach represented the natural next step for the business.”

The Surf Parade site brought together proximity to the beach, protected coastal outlooks and walkability to dining, shopping and recreation. Hirsch &amp; Faigen also identified the street as an emerging premium residential address, with enough separation from Broadbeach's busier destinations to retain a quieter environment at home.

The Eveleigh is now under construction by Maxcon, with completion forecast for mid-2028. Three-bedroom residences are currently available from $2.87 million.

[smartcode_project_cta:default project_id=149670]

Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

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

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

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

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

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

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

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