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The $130 million Harvey Norman Maroochydore Homemaker Centre on the Sunshine Coast, which opened in November last year, is now 91% leased as demand for bulky good retail assets rises. 
The success of the centre, the first homemaker complex built in Queensland since 2009, will be seen as a sign of a return of confidence in both the South East Queensland commercial property market and the residential property market with furniture and home living stores prominent among tenants.
The successful leasing of the centre comes on the back of a pick-up in the bulky goods sector spurred on by competition between Wesfarmer’s Bunnings and Woolworth’s Masters for the DIY space and <a target="_blank" href="https://www.propertyobserver.com.au/news/casula-in-sydney-s-south-west-to-get-its-costco/2013031059802">Costco </a>and IKEA both expanding in Australia. 
The 2012 shopping centre investment review report from Jones Lang LaSalle says activity in the sub-regional and bulky goods sectors increased in 2012 with opportunistic investors emerging to capitalise on wide yield spreads including those offered in the bulky goods sector.
The JLL report says there was a “significant revival in activity” in the bulky goods sector in 2012 with over $613.2 million worth of bulky goods (homemaker) centres traded in 2012, 87% above the 10-year average ($328 million). 
Yields have been high with the Home Hub Hills bulky good centre in Castle Hill, Sydney purchased by LIM last year on a yield of 9.32%. 
“This sector has been attractive for a number of reasons. 
“The investors targeting this asset class recognise that the prime assets have stabilised and a recovery in retail spending, combined with a potential revival in residential construction, could strengthen the performance of prime centres. 
“In addition, there has been relatively low competition for these assets with the absence of A-REIT’s as active buyers and centres can be acquired on attractive yields,” says JLL. 
A-REITs continue to exit this sector as evidenced by Charter Hall’s sale of Mile End Homemaker Centre ($43.8 million) and GPT’s sale of Homemaker City Jindalee ($50.5 million) and Homemaker City Aspley ($41.2 million). 
The 32,000 square metres of lettable area in the Maroochydore Centre includes 20 retail stores and 4,185 square metres of office space, more than half of which is leased to Goodlife Health Club. 
Just four tenancies remain in the bulky goods store measuring 125 square metres, 510 square metres, 515 square metres and 1,320 square metres. 
The indoor centre was developed and is anchor-tenanted by Harvey Norman. 
Other tenants include Joyce Mayne, Domayne, Nick Scali, Plush, Next Byte, The Outdoor Furniture Specialists, Akasha, Sleepy’s, 2 Garnish and Global Living Furniture. 
The leasing agents for the centre are CBRE’s Damian Crocetti and colleague Nick Willis. 
Crocetti says the centre is well positioned to take full advantage of the ‘Homemaker Market Boom’ with bulky goods spending in the catchment area totaling an estimated $1.029 billion according to Deep End Services. 
The complex is situated just 1km west of the Maroochydore CBD and only moments from proposed Bunnings and Masters sites. 
It is adjacent to the largest shopping centre on the Sunshine Coast, the Best &amp; Less, Coles, Kmart, Myer and Target anchored Sunshine Plaza. 
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lschlesinger-FZcF9M3vE6

Bulky goods revival continues as Harvey Norman Maroochydore centre now 91% leased

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The striking glass-fronted premises of Paul Mathis’s FireChief restaurant in Camberwell Junction has been listed for auction on March 21.
The property, at 169 Camberwell Road, Hawthorn East, was formerly an auto shop before being entirely refurbished to incorporate FireChief plus laneway café Goldilocks in late 2011.
The 455-square-metre site has 10.67 metre street frontage to Camberwell Road and caters for suburban moviegoers, being just 100 metres from the Rivoli Cinemas.
The property is being marketed by Grita Angelucci from John H Castran and Fitzroys agents Chris Kombi and Mitchell Humphreys.
Kombi tells Property Observer, the restaurant premises are expected to sell in a price range from $4 million to  $4.3 million - a yield of around 6%.
"We have received interest from private investors. Interest has been good," he says.
The Italian restaurant, with its three pizza ovens and Naples-trained chef, is licensed for 200 seated patrons at any one time.
The property is leased to Mathis for seven years with two further seven-year terms and returns $260,000 per annum plus GST with fixed annual increases.
Mathis is a celebrated “concept” chef with FireChief renowned for its pizzas, which include a classic minimalist Naples-style pizza and an ‘Aussie’ pizza topped with an egg.
The restaurant and cafe are located within the Camberwell Junction activity hub next to Dan Murphy’s, Dick Smith, Rivoli Cinemas and to the rear, The Well Shopping Centre, Coles Supermarket and Burke Road’s retail precinct.
Other eateries established by Paul Mathis in Melbourne over the past two decades include Blue Train, Automatic, Taxi, Transport Hotel, Soul Mama, Chocolate Buddha, SOS and the 100 Mile Café.
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Hawthorn East premises of Paul Mathis’ FireChief restaurant listed for March auction

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The 52-year-old Greenvale man charged earlier this month in relation to the investigation into Epping district rental properties allegedly used to grow hydroponic marijuana has since died.
The Victorian Police have advised the matter is not believed to be suspicious and police will prepare a report for the Coroner.
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Death in alleged Epping marijuana rental management property scheme

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Mortgage lending did not bounce back in the first month of 2013 with first-home buyers participation in the market remaining at near nine year lows.
The ABS records that the total number of owner occupied housing commitments fell 1.5% in January to 44,483 home loans.
This follows a 1.5% fall recorded in December.
A survey of 19 economists by Bloomberg this week had forecast a 0.5% rise in mortgage commitments over January.
In original terms, the number of first home buyer commitments as a percentage of total owner occupied housing finance commitments remained at 14.9% in January 2013.
This is the weakest proportion of first-home buyers in the housing market since June 2004 and just two percentage points off the record low of 12.8% in March 2004 for ABS figures going back to July 1991.
Between January 2013 and December 2012, the average loan size for first home buyers rose $2,800 to $297,100.
The average loan size for all owner occupied housing commitments fell $1,200 to $307,100 for the same period.
Accordingt to the ABS, mortgage commitments for the purchase of established dwellings were flat over January.
The figures indicate the residential construction sector remains weak with the number of mortgage commitments for the construction of dwellings falling 0.2% in January 2013, after a rise of 1.6% in December 2012.
On a trend basis, commitments for the construction of dwellings fell marginally (0.1%), the seventh consecutive monthly fall in this series.
Commitments for the purchase of new dwellings rose 2.3% in January 2013, following a rise of 2.3% in December 2012 on a seasonally-adjusted basis.
The total value of owner occupied housing commitments rose 1.3% in January 2013 on a seasonally adjusted basis to $13.76 billion.
 
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Home lending down 1.5% in January with first-home buyer activity still at near nine-year lows: ABS

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Bunnings has acquired the Supa Centa at Tuggerah on the NSW Central Coast, owned by Betty Klimenko’s family real estate group Terrace Tower.
Terrace Tower was founded by Klimenko’s father, the late John Saunders, co-founder of the Westfield Group.
The centre is located at the corner of Wyong Road and Bryant Drive in Tuggerah and is billed as the Central Coast’s largest home &amp; lifestyle centre.
Tenants include The Good Guys, Bunnings Warehouse, Spotlight, Nick Scali, Fantastic Furniture and Bing Lee.
Other commercial properties owned by Terrace Tower include the Eastgardens shopping centre and Moore Park Supa Centre in Sydney’s eastern suburbs and the Crowns Gardens apartment block in East Sydney.
Klimenko, with her distinctive pink hair and tattoos, is a motorsports fanatic and owns the Erebus Motor Sport team, which raced a Mercedes at the V8s in Adelaide earlier this year.
Bunnings plans to increase the size of the store, one of the better performing in the group, and give it a more modern format, Fairfax reported. Bunnings is owned by Wesfarmers. 
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Bunnings acquires Betty Klimenko family-owned Supa Centa at Tuggerah

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Concerns that incentives granted to developers and housing groups under the National Rental Affordability Scheme (NRAS) are being sold on a secondary market are to be investigated as part of the federal government’s review of the scheme.
The Australian Financial Review has reported that some developers were selling incentives for between $10,000 and $30,000 each.
Ahead of the release of the fifth round of 10,000 incentives, Mark Butler, the federal minister for housing and homelessness, said he had “heard the concerns about the timely use of incentives”.
“We will continue to refine this innovative program,” he said.
The scheme has come under attack from the opposition housing spokeswoman, Senator Marise Payne, who said its aim was to provide affordable housing – not for developers to make a quick profit.
An incentive allows for the building of an eligible NRAS home – property investors get an annual tax-free incentive of just under $10,000 and eligible renters get a 20% discount to the market rent.
Around 11,300 homes have been built under the scheme with a noticeable pick-up in delivery of new NRAS housing in the last 18 months.
Developers like David Devine’s Metro Property Development group have stepped up their marketing of NRAS properties with around half of new Brisbane apartments offered to investors under the scheme.
The government aims to build <a target="_blank" href="https://www.propertyobserver.com.au/developments/government-to-expand-nras-scheme-with-aim-of-50000-homes-by-2015/2013030659767">50,000 new homes under NRAS by 2015</a>.
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Federal government to review NRAS scheme over incentives trading

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The Reserve Bank will leave the cash rate unchanged at 3% when it next meets to decide on monetary policy on April 2, according to the latest Bloomberg survey of economists.
Of the 25 economists polled by Bloomberg on March 8, 24 expect the cash rate to remain unchanged.
The only economist expecting the RBA to cut the cash rate in April is Dominic Bryant from French investment bank BNP Paribas Asia.
Last week, he, along with Macquarie Bank chief economist Richard Gibbs, were the only two economists out of 27 polled by Bloomberg who tipped the RBA to cut the cash rate in April.
Gibbs has since altered his view, leaving Bryant the lone economist tipping an April rate cut.
Looking beyond April, a significant majority of economists – 16 out 25 – expect the cash rate to also remain unchanged in May.
A majority of economists (15 out of 25) expect the cash rate to be lowered in June with 13 expecting a cash rate of 2.75% and two – notably Macquarie Bank’s Richard Gibbs and NAB’s Alan Oster – tipping a cash rate of 2.5% with both economists expecting 25 basis point rate cuts in May and June.
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No rate cut in April say economists: Bloomberg survey

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Bulky good centres provided the highest return to retail property investors in 2012, according to the latest Jones Lang LaSalle shopping centre investment review.
Yields on bulky good centres were stable over 2012 at 9.55% with neighbourhood centres offering the second best return of 8.51% up marginally compared with 2011.
The lowest yields (6.28%) are on offer for the most expensive assets sought by mainly institutional investors - regional shopping centres.
"With spreads wide on so many measures, it presents investors with certain risks and opportunities.
"It suggests asset repositioning can potentially be more rewarding and that there is potential capital growth to be derived as spreads ultimately narrow to long-term average levels.
"Some investors have emerged to take advantage of some of these trends, particularly in bulky goods and sub-regional sectors," says Jones Lang LaSalle.
<img alt="shopping_centre_yields" height="530" width="470" src="/images/stories/2013/shopping_centre_yields.gif">
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Bulky goods centres offer highest retail property yields: Chart of the week

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All purchasers must define their own needs. Owner-occupiers are different to investors and want very different things from property. Investors who purchase off-the-plan should be buying for the medium- to long-term.
“Buying for the short-term is risky in the current environment. Look to holding a property for five to 10 years, and that will allow you to ride out any negative movements in the market that could reflect in the value of the property. If you stick with the long-term you will end up with solid capital growth,” says Tim Rees, director of CBRE residential projects.
Investors, who accounted for about 70% of sales six years ago, once dominated buying off-the-plan. But the tide is turning.
Rees says that owner-occupiers have become shrewd in buying property off the plan in recent years, and that purchases off-the-plan have become popular.
The tight residential market in Sydney, where owner-occupiers have seemingly embraced buying off-the-plan or face never getting started on the property ladder, has driven this, Rees says.
“In Sydney there are not many apartment buildings these days that are not already sold when they are finished, so they do not add anything to the available housing stock.
“This keeps the market competitive and tight, and owners-occupiers understand that buying off-the-plan is a reputable way to buy and no longer the domain of investors,” Rees says.
However, do not always assume that property prices are going to rise. There have also been cases of people paying far more for a property at settlement than they could hope to sell it for in the current market.
When you are considering what might happen to property prices from the time you sign the contract to settlement, you should also research what other projects will be completed over this time frame in the same area.
There could, for example, be a glut of apartments being marketed off-the-plan or due to commence construction, which could create an oversupply rental situation or reduce values.
For great tips on buying off the plan, download Property Observer’s free ebook – <a rel="nofollow" href="https://propertyobserver.us2.list-manage.com/track/click?u=24bd0766a834290948593f5aa&amp;id=14e9848476&amp;e=7a53fc6dd9" target="_blank">14 tips for buying off the plan: The 2013 guide for investors and owner-occupiers.</a>
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Take into consideration rising and falling values: tips for buying off-the-plan

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The mortgage market rebounded strongly in February on the back of increased levels of consumer confidence and more attractive fixed and variable mortgage rates, according to the latest RP Data Mortgage Index.
The index has surged over the past eight weeks reaching 100.7 points as of March 10 – its highest reading since August 2009, also the last time the cash rate was at 3%.
The index tracks mortgage activity from 90% of the residential mortgage sector and correlates strongly with ABS housing finance data.
More than a month ahead of ABS housing finance data – January housing finance figures are out tomorrow – it is a lead indicator of demand for residential mortgages.
<img alt="rpdatamortgagemarch12one" height="207" width="470" src="/images/stories/2013/03/rpdatamortgagemarch12one.gif">
<img alt="rpdatamortgagemarch12two" height="263" width="470" src="/images/stories/2013/03/rpdatamortgagemarch12two.gif">
RP Data’s head of corporate affairs Craig Mackenzie said the latest reading of the index highlights the extent of new market activity between the traditionally slow month of January and February. 
“In seasonally adjusted terms, the index increased from 76.9 to 78.1, foreshadowing a strong result for February when the housing finance data is released by the ABS in mid-April. 
“Of greater significance is the fact that the raw Index value of 100.7 over the 28 days to March 10 was the highest since September 2009, which was a point in time when market activity was very strong, underpinned by high levels of first homebuyer activity stimulated by low interest rates and the First Homebuyer Grant Boost. 
“This is supported by the fact that the average number of activity events across RP Data’s platforms per client was the highest since August 2009. 
“This suggests mortgage market activity has rebounded strongly in February after the post-Christmas lull, driven by increased levels of consumer confidence, attractive mortgage interest rates (both fixed and variable) driving strong refinancing activity and improved investor demand,” Mackenzie said.
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Mortgage activity rises to highest point since August 2009: RP Data

<a href="https://www.apartments.com.au/developments/broadbeach-qld-4218">Broadbeach</a> offers plenty of reasons to live vertically, but moving from a substantial family home into an apartment can expose the compromises of high-density living. Privacy, room for guests and usable living space tend to matter more when an apartment is intended as a permanent home rather than an occasional coastal base.

A typical residential floor at <a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a>, on Surf Parade,&nbsp;contains just four apartments. The 94-residence development by <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> is predominantly made up of expansive three-bedroom homes, with a limited collection of half-floor penthouses above.

Across the apartment floors, <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has used the relatively limited number of residences to give each home greater access to natural light and outlook. Living spaces extend towards full-height glazing, while a series of bay windows frame selected views across the Pacific Ocean, city and hinterland rather than treating the building edge as a continuous wall of glass.

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[smartcode_project:default project_id=149670 project_image_fid=360965]

“The apartment floors deliver a collection of homes that embrace controlled outlook via a series of bay windows deliberately framing moments of view,” Rothelowman Director Kim Lowman said.

From outside, those projecting forms contribute to the tower’s faceted profile. Strong horizontal and vertical elements establish its proportions, while the changing position of the sun alters the light, shadow and reflection across the façade throughout the day.

The same attention moves inside the apartments, where the material palette combines warm timber, natural stone, metallic detailing and softer curved forms. Kitchens sit within the main living zone, with stone island benches, integrated joinery and European appliances, before the living areas extend towards the glazing and the outlook.

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[smartcode_project:default project_id=149670 project_image_fid=360981]

Three genuine bedrooms provide room to accommodate family and guests, while two secure car spaces and storage address some of the practical considerations that can become more noticeable when moving from a larger home. Feedback from the display suite has centred on the warmth and restraint of the interiors, with buyers commenting that the residences feel like homes rather than conventional coastal apartments.

A limited collection of half-floor penthouses occupies the upper levels, increasing the scale of the living spaces and adding private balconies and elevated finishes. From this position, the outlook extends between the ocean and hinterland.

Outside the private residences, The Eveleigh separates its shared spaces between the podium and rooftop. The podium is centred on wellness, with subtropical landscaping surrounding a swimming pool and pool terrace, yoga garden, private gymnasium, sauna and hot and cold plunge facilities. Landscaped retreats and pavilions provide additional places to sit away from the main recreation areas.

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Higher in the building, a rooftop pavilion and private dining suite sit alongside resident lounge, barbecue and outdoor dining areas, opening towards panoramic views across the ocean, city and hinterland.

“Buyers are no longer just looking for an apartment, but a lifestyle where they can relax, reset, and enjoy a balanced way of living,” Hirsch &amp; Faigen Director of Sales Matt George said.

Interest to date has come from established owner-occupiers and interstate lifestyle purchasers, including buyers planning a future move to the Gold Coast. Many are coming from larger homes and want to reduce ongoing maintenance without giving up space for family and guests, privacy, two car spaces or the ability to entertain at home.

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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.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

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

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

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