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GUEST OBSERVATION
Cairns is right on the change of times and fortunes - it is still really unclear exactly what will happen over the next few years. 
I personally believe it will change, but the answer I don't have is just how quickly or to what extent.  The big thing is Aquis and if this goes ahead this will be a game changer for Cairns.  It will not just be restricted to the area immediately surrounding Aquis - Cairns just isn't like that.  
We are still a regional city and Cairns, to us locals, extends down to Gordonvale, up to Palm Cove.  It isn't like the area of Smithfield is booming with business, but Bungalow near the City isn't.  It is too small for that - the whole town either is working or isn't.  
If Aquis is built then the immediate surrounding area will boom, but it won't be like a house there is $800,000 and a similar house in the rest of the city will be $400,000.
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Cairns may not be for everyone - you need to work out if Cairns is the right place for you to invest in.
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The State government seems to be behind the Aquis project, now all we have to do it is get it approved and work to start on it. This is a big step in the right direction. The Foreign Review Investment Board has also given the green light for <a href="https://www.cairnspost.com.au/business/foreign-investment-review-board-gives-fungs-green-light-to-yorkeys-knob-land-buy-for-aquis-mega-resort-and-casino/story-fnjpusdv-1226844517155" target="_blank" style="line-height: 1.3em;">Aquis to purchase the land at Yorkeys Knob</a>.
Without being to dramatic, if Aquis does get the go ahead and work starts this year, we will see a huge movement in the market and very quickly. This could really be the very last chance to get into the property market in Cairns before it takes off.  
To highlight this, I looked at duplex pairs for sale.  Just over two years ago I was lucky to find anything that was listed for over $400,000.  Now there is just one duplex pair that is under $400,000.  The rest have sold - this shows you that the market is on the move. 
The <a href="https://www.cairnspost.com.au/business/full-steam-ahead-for-bunnings-warehouse-in-portsmith-cairns/story-fnjpusdv-1226840282363" target="_blank">building numbers for new houses has increased</a>, but let’s not get too excited.  The numbers are fairly small.  The number of high density developments is minimal, which on one hand is not good for the building industry, it will be a good thing for those of us with investment properties. With no building of any significance for almost seven years now, the vacancy rate is low. As things pick up we will be able to push rents up - it is a simple case of supply and demand. 
Cairns may not be for everyone - you need to work out if Cairns is the right place for you to invest in.
LINDA TUCK is director of <a href="https://www.plrealty.com.au/index" target="_blank">Cairns Property Ladder Realty</a>, an independent real estate agency in specialising in property management, investment and sales expertise in the tropical Cairns region.  
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ltuck-LoPRMkTfus

Is the Cairns market on the cusp of take-off?

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We have a lot of investors in Cairns, particularly in the unit market.  Many have wanted to get out for the past seven years, but just haven't been able to achieve the price they want so they have held on.  The ones that have sold have either lost a lot of money, gone bankrupt and the bank has sold it out from under them, or they bought a while ago and although they didn't make a profit they didn't lose money.
To explain where I am trying to go I will use the two bedroom market.  Right now you can buy a reasonable two bedroom unit for under $140,000.  As these are being sold the cheapies are not being replaced.  The people that have been hanging on waiting for the market to get to $140,000 consistently are now listing.  This is a long way from where they were going from and it may take a while for these to sell.
When the ones at $140,000 sell the people that have been hanging on until the market gets to $160,000 will start to think it is time to sell and get out.  These will list and again, although they may not sell immediately, as the cheaper stock gets sold they will start to look like the cheapest available and they too will sell.
To prove a point I will tell you about a townhouse at Tropic Gardens.  It had been listed for a long time at about $150,000.  It would have been at least 12 months and no real activity.  In December this was sold for just under $150,000.  A few weeks later an identical unit in the complex was listed for $199,000 and the agent tells me that the owners knocked back an offer of $175,000.
I am hoping that this leap-frogging of prices will bring the market back to 2007 prices relatively quickly. A lot is out of our control - investor confidence, the world economy, Aquis approval, tourism and the Cairns economy in general.
Here goes my predictions - these are based on if the Aquis project is given the green light and is to start in 2015 and not in 2014.
By this time next year we will see sale prices nearing the peak of 2007 prices.  I actually think they will be higher but I am being conservative.  By this time next year will we see rents go up by 10 - 20%.
Bedsit units are currently $175 per week - I believe they will go to $200 per week
One Bedroom units are currently $170 - 200 per week - I believe they will go to $200 - 230 per week
Two Bedroom units are currently $200 - $240 per week - I believe they will go to $230 - 270 per week
Two Bedroom duplexes are currently $220 - 250 per week - I believe they will go to $260 - 290 per week.
Houses will increase by at least the same rate, and may be even more as there are so few houses to rent currently.  It is incredible some of the prices we are achieving for house rentals, and as the market tightens up it is allowing us to choose better quality tenants and achieve higher rents.
Linda Tuck is director of <a rel="nofollow" href="https://www.plrealty.com.au/index" target="_blank">Cairns Property Ladder Realty</a>,  an independent real estate agency in specialising in property management, investment and sales expertise in the tropical Cairns region.
         
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Cairns market tightening up with leap-frogging listing prices

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I know most investors baulk when they see the body corporate levies, but I think that there are many that just don't understand what a body corporate levy is, what it pays for and why they are actually a great thing for investors that don't live where their investment is.  The key to a good body corporate is to have a great chairperson who makes sure all the jobs are done.
For an investor, it is difficult to understand what the body corporate is responsible for and what they aren't.  As a general rule, the body corporate is responsible for all the common area, the building and the insuring of the actual structure.  The internals of the unit are the responsibility of the owner but even so this is a bit blurry.  If you have a leaking tap, then the owner is responsible to get the washer changed.  If there is a burst pipe and that pipe is in the slab then it is the body corporate.  If the kitchen needs replacing due to age, then it is the owner’s responsibility.  If the kitchen is damaged due to an insurable event, then it is covered under the body corporate insurance cover.
Let's say the hot water system is located in the kitchen cupboard and it bursts flooding the unit.  The damage to the kitchen is covered by body corporate insurance.  The owner will have to pay to get a new hot water system installed.  If the carpets are damaged, these are classed as contents and the owner needs to claim this through their Landlords Insurance.  If the walls are damaged, this is a body corporate claim and their policy will fix this - yes I know very confusing.
I will use Palm Tree Apartments for the example.  This is a complex of 44 units, with 24 of them being bedsit units and 20 being two bedroom units.  The complex was built in 1995 and is a besser block, three storey, bomb proof place.  It isn't the prettiest but it is perfect as an investment.  The units themselves are basic internally but very functional.  The beauty of these is they are big internally - much bigger than a two bedroom in a newer property.  When you have a big complex, you really need to be proactive - if something is wrong it needs to be fixed.  If you leave something broken or dumped next to the bin area it sends out a message that this is acceptable.  This is a learning curve that I had to have - just because we pick up that piece of rubbish near the letter box and put it in the bins, doesn't mean everyone else will!
There are two parts to a levy - you have the administration fund, which budgets for the things that will happen each and every year, and then you have the sinking fund. This is for future works to be completed such as new roof, gutters, fences and repainting.
The Queensland government realised that if they didn't make people put money aside for future works, then they wouldn't.  In the mid-1990s they brought in sinking fund and each building had to do a report and estimate what works would be require, what time frame they were needed to be done in and the cost.  They then work backwards and come up with a figure so that there will be enough money in the bank when the work is required.
The sinking fund is the second part of the levies.  This is for the future works or something that doesn't happen all the time.  This can include tree lopping, pressure cleaning, big garden upgrades etc.
I have been driving around and looking at all our properties, and let me tell you that the outsides are starting to look tired and need some work done to them.  If they are in a body corporate it is easy, get the quotes, pass it via the committee and get the work done.  The money is there sitting and waiting for the work to be done.
On the other hand, if it is a property not in a body corporate - the owners have to find the money to get this work done.
Linda Tuck is director of <a rel="nofollow" href="https://www.plrealty.com.au/about_us" target="_blank">Cairns Property Ladder Realty</a>,  an independent real estate agency in specialising in property management, investment and sales expertise in the tropical Cairns region.
 
 
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Body corporate or owner: Who takes responsibility for getting the job done?

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There has been an announcement that the Aquis resort will be delayed for a year.  It still hasn't been approved by the state and local governments and it seems that the sticking point is the approval of the standalone license for the casino.  Getting a project this big approved and started within a year of the announcement was always going to be ambitious.  I think we will hear more over the next few months.  I personally think it will go ahead, and if nothing else, it has been the catalyst for the turn in the Cairns economy and confidence.  
For the past few weeks I have been doing some research for a few buyers.  I have to tell you that the market has well and truly turned.  You can still find a good buy, but they don't hang around long.  You also will be paying more for them than you were even three months ago.  To find a good two bedroom unit under $120,000 is near on impossible, yet before Christmas we had three that were purchased by investors for under $100,000.  
It is not often that I get the crystal ball out, but today I will make an exception.  Before I make my predictions I will go into some back ground information as not everyone has been following Cairns as much as we have.  
Cairns is a relatively new city and most of the building happened in three distinct phases.  The first was in the areas close to the city and <a target="_blank" href="/news">Edge Hill</a>. This would have happened in the very late 1970s and early 1980s.  The unit blocks that were built were either single level or two storey.  They tended to be in smaller blocks and I will guess that at this time there were a lot of duplex pairs that were built.  
The next building phase was between 1988 - 1995 and this was your bomb proof but certainly not pretty developments.  This includes the houses you will find in White Rock, Woree and Brinsmead to name a few.  These were constructed with besser blocks and most of them finished to a budget finish - the besser blocks weren't rendered internally or externally, the kitchens and bathrooms were basic in design and fit out and the fixtures and fittings were cheap.  
The unit developments of this era were mainly in the 5 kilometre CBD circle. This is up to <a target="_blank" href="/news">Edge Hill</a>, around to <a target="_blank" href="/news">Whitfield</a> and south to <a target="_blank" href="/news">Woree</a>.  There were some developments at the northern beaches and some further south down to <a target="_blank" href="/news">Edmonton</a> but the bulk were in the <a target="_blank" href="/news">Manunda</a>, <a target="_blank" href="/news">Manoora</a> and Whitfield area.  These were up to a maximum of three stories high.  The size ranged from a simple four pack up to 45 units.  There were also some duplex pair developments that were done, but if they could squeeze more onto the block - they did.  
The last building phase happened between 2003 - 2008.  This was cut short by the GFC - it literally ground to a halt overnight and the rest is history.  These developments were nice and on a much bigger and grander scale.  We had the development along the northern beaches, the Esplanade in the City and other inner city suburbs.  We also had the mega developments like The Lakes and Cairns One.  Housing was also on a much grander scale and to a much higher specification.  There were very few small developments and even fewer duplex pairs.  I guess the economies of scale just weren't there.  
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During the rise of the last property cycle, the units that were built in the first and second building phase were pretty much bundled together and sold for about the same price.  Obviously there were slight differences for location and fit out but generally this would be the price near the peak of the market in 2008  
Studio spartments - $80 - 100,000 - these is the really small ones at Chester Court, Jensen Street and even the motel style units at Anderson Road
Bedsit units $110 - 115,000 - this is the type that can be found at 85 Birch, 93 Birch and 55 McCormack Street.
One bedroom units - $150 - 170,000 - the better the presentation the better the price.
Two bedroom units - $220 - 240,000 - I know it is difficult to believe but you really couldn't buy a crappy one for $200,000
Duplex pairs - $500,000 plus.  Yes these are the same duplex pairs I wrote about recently that if you shopped around you could buy for $400,000 and under.
Houses - $300,000 plus.  This would be for a basic three bedroom, one bathroom home in the not so good areas.  
Now to put this into context for today market as it stands right now  
Studio apartments - $40,000 if you hunt around you may even get one lower.
Bedsit units $85,000 - potentially there is $30,000 if the market goes back to just 2007 prices
One bedroom units - $90 - 120,000 - these have dropped but not as badly as the two bedroom units.
Two bedroom units - $95 - 140,000 - if they just go back to 2007 prices there is potentially $100,000 capital gains to be made.
Duplex pairs - $350 - 400,000 - these have gained $50,000 in price since we started tracking them 18 months ago. The fact there are so few pairs around will see the prices go up quickly.
Houses - $250 - 300,000 - this is for your basic home in <a target="_blank" href="/news">Woree</a>, <a target="_blank" href="/news">White Rock</a>, <a target="_blank" href="/news">Manunda</a>, <a target="_blank" href="/news">Manoora</a> etc.  These too have gained ground in the past six months.  You had your choice of houses about six months ago for $250,000 and under.  To find a good house with two bathrooms for under $300,000 is nearly impossible now.  You can find a three bedroom, one bathroom for under $300,000 and these are still worth looking at if this is your strategy.  
The fact that we haven't had any building in seven years, the economy is getting better, the vacancy rate is low and the rents are increasing are all positive factors.  The fact that interest rates are at historical lows is another bonus.  
The game changer is Aquis and the other projects that will follow on.  This will put further pressure on rents and when the investors start to come out and see the prices compared to the achievable rents, they will take notice and start buying.  I am already seeing this now.  I am dealing with more buyers now than I have dealt with all 2013 put together.
I know that some will say that the body corporate levies will put the investors off.  For this example I will use Palm Tree Apartments.  There are 44 units in the complex.  Before the huge insurance increases came in the premium was $6000.  The premium we just paid in May was $32,500.  
For the bedsits they used to pay $93 per year and now they pay $508 or an increase of $415 per annum, or $8 per week
For the two bedrooms they used to pay $186 and now they pay $1016 or an increase of $830 per annum, or $16 per week.  
I know that the other outgoings have also increase, landlords insurance, council rates and water charges - but these haven't been as high.  For this case I will use a bedsit unit.  At the peak of the rental market the highest we achieved was $155 per week.  We are now consistently renting them out for $175 per week and this is set to increase as the rental market continues to tighten.
Linda Tuck is director of <a target="_blank" href="https://www.plrealty.com.au/index">Cairns Property Ladder Realty</a>,  an independent real estate agency in specialising in property management, investment and sales expertise in the tropical Cairns region.
                   
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Cairns market has well and truly turned and new developments could be a game changer

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It has been an interesting start to 2014. Traditionally we get quite a few tenants vacating in December.  This happened to a fair bit and if we don't have these properties re-let by mid to late December, the chance of reletting them drops each day.  Between the December 20 and the first business day back from New Year there is a very remote chance someone will be wanting to rent a property out.  

Traditionally on the first business day back from New Year there is a huge demand from people looking for rental properties.  We have a large number of people moving to Cairns for the start of the year - teachers, doctors, nurses, police, university students and TAFE students to name a few.  
We were back in the office for this when the phone simply didn't ring for the first week back - I started to worry.  
If you did a search for all available rentals in the Cairns greater region mid to late 2013, you would have found between 550 - 650 available rentals.  This covers an area from <a href="/news">Gordonvale</a> up to <a href="/news">Palm Cove</a>.  It also includes all rentals from a small budget studio, right the way up to an executive home.  For the first few weeks of January this figure was just over 900 or a 50% increase.  It has now gone down to 890 but it is still much higher than what we had prior to Christmas.  
We had a unit that became available just before Christmas.  It is small, but it is a really nice unit.  We have repainted it internally, had new lights and fans installed, new curtains and the furniture upgraded.  It presents really well. It has a kitchen with an upright stove, a fridge and even a washing machine in the bathroom.  These are really popular with people that are on a budget and don't want to share.  We were easily renting them out for $175 per week last year.  This particular unit sat for weeks without any one even asking to inspect inside.  I dropped the price to $170 per week and in four weeks we had a total of two inspections.  Fortunately a lovely Korean couple has taken it, but it was bringing back memories of the barrel which I just don't want to get back into.  
The level of enquires was lower but the "trash element" was so much higher.  It was not restricted to just this budget property, it went right the way through the available rentals.  Fortunately we have managed to clear most of the vacancies and just have a few left.  
I am hoping it is a combination of a few factors:  
<ul>
<li>
Christmas and New Year left over quiet phase
</li>
<li>
Wet season down time - it has been incredibly hot and humid
</li>
<li>
Brewing cyclone off the coast - this sent things quiet all this week
</li>
<li>
Later start to the year - school and contracts seem to be starting at the end of January rather than the traditional early part of January.
</li>
</ul>
Although we have dropped the rents slightly, they are still at higher levels than they were 12 - 18 months ago.  This is assuming that the property presents well internally.  I can't tell you how often the potential tenants tell us that the other properties they have seen are just awful - particularly when they walk into one of ours that presents well. 
This is going to be a key part of getting and keeping good tenants in 2014.  It is also crucial for us to be able to get higher rents.
Linda Tuck is director of <a href="https://www.plrealty.com.au/index" target="_blank">Cairns Property Ladder Realty</a>,  an independent real estate agency in specialising in property management, investment and sales expertise in the tropical Cairns region. 
 
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 RELATED ARTICLES:
<a target="_blank" href="https://www.propertyobserver.com.au/queensland/slow-start-to-the-year-for-cairns-local-market-update/2014021267563?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news">Cairns market has well and truly turned and new developments could be a game changer</a> by Linda Tuck
Suburb spotlight: Cairns enjoying low vacancies
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Slow start to the year for Cairns: Local market update

Apartment buyers in New South Wales are set to gain a decade of insurance-backed protection against major building defects, after the NSW Parliament passed the Fair Trading and Building Legislation Amendment Bill 2026.&nbsp;

The Bill establishes decennial defect insurance, known in the market as Latent Defects Insurance (LDI), as an alternative to the existing two-year strata building bond. It cleared the Legislative Council with amendments on Tuesday evening (August 4, 2026), with the Legislative Assembly agreeing to those amendments shortly after.

Under the reform, eligible developers can satisfy their statutory bond obligation by taking out an approved decennial-style policy that gives owners 10 years of cover for major structural defects from completion, claimable directly, without first having to pursue developers or builders through costly legal action.&nbsp;

The change forms the final tranche of amendments arising from the 2021 statutory review of the Strata Schemes Management Act 2015 and related legislation.

Resilience Insurance, which originated the cover in Australia and has delivered it in NSW since 2022, welcomed the passage and credited the NSW Government for delivering it.

“This is protection apartment buyers have needed for a long time, and the credit for delivering it belongs to the NSW Government,”&nbsp;said Corey Nugent, CEO of Resilience Insurance.

“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into. Reform like this is what good, evidence-based regulation looks like.”

Resilience has delivered LDI in NSW since 2022, protecting thousands of apartments, giving the State, and now the country, real-world evidence of how decade-long, no-fault protection works in practice.

The reform also places NSW within a wider national shift.

NSW is the third jurisdiction to put decennial cover into law. The ACT legislated for it in 2024, with the scheme taking effect in late 2025, and Victoria passed its own framework on 17 June. Between them, the three cover the majority of Australia's apartment market.

The reform commences once the legislation is proclaimed, which is expected in the coming weeks. From that point, developers of Class 2 residential apartment buildings can meet their statutory obligation with an approved decennial policy in place of the bond.

Buyers who purchased into projects that took out the cover early are among the first in the country to take keys to apartments carrying decade-long structural protection.

“With the legislation passed, the focus now turns to making it work for buyers,”&nbsp;Nugent said.

“There are already thousands of apartments in NSW covered by this insurance, bought by developers who moved early. The question every buyer should be asking in a display suite is a simple one: does this building come with 10-year defect cover, and who stands behind it?&nbsp;

“We look forward to working with the Government and the Building Commission in coming weeks as the framework moves to implementation, and to sharing what we have learned over the past four years so the protection reaches owners as smoothly and quickly as possible.”

Other states are working through their own reform programs. Western Australia has indicated that decennial cover is within consideration a later stage of its reform sequence, and Queensland has been examining the settings as it looks at the development pipeline ahead of the 2032 Olympics.

Resilience Insurance acknowledges the NSW Government’s continued focus on strengthening consumer protection while supporting housing delivery across the State.

Fast Facts: What the reform means

<ul style="color:#222222; font-family:Arial, Helvetica, sans-serif; font-size:small; font-style:normal; font-variant-ligatures:normal; font-weight:400; text-align:start; white-space:normal; background-color:#ffffff; text-decoration-thickness:initial; text-decoration-style:initial; text-decoration-color:initial">
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Proven at scale:&nbsp;Decennial cover has operated in NSW since 2022, protecting thousand of apartments.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">10 years of cover:&nbsp;Protection for major structural defects runs for a decade from completion, claimable directly and with no legal action required.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">An alternative to the bond:&nbsp;Eligible developers can meet their statutory obligation with an approved decennial-style policy in place of the 2% strata building bond.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Part of a national shift:&nbsp;The ACT has had decennial provisions in force since 2025 and Victoria passed its framework in June. NSW now joins them.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">No-fault, first resort:&nbsp;Owners corporations claim directly from the insurer without first having to establish who is liable for the defect.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Cost-competitive:&nbsp;At approximately 1.8% of build cost, LDI is typically priced below the 2% bond while offering broader, longer protection.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Market position:&nbsp;Resilience originated LDI in Australia and has delivered it in NSW since 2022.</li>
</ul>

Fast Facts: What is Resilience LDI?

<ul style="color:#222222; font-family:Arial, Helvetica, sans-serif; font-size:small; font-style:normal; font-variant-ligatures:normal; font-weight:400; text-align:start; white-space:normal; background-color:#ffffff; text-decoration-thickness:initial; text-decoration-style:initial; text-decoration-color:initial">
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Resilience Latent Defects Insurance (LDI):&nbsp;Covers major structural defects for 10 years from completion.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Consumer-first:&nbsp;Direct claim access, no need for lengthy legal action.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Cost advantage:&nbsp;At approximately 1.8% of build cost, LDI is typically priced below the traditional 2% Strata Bond while offering broader protection.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Market leader:&nbsp;&nbsp;Resilience Insurance originated LDI in Australia and is the national market leader.</li>
</ul>

Joel Robinson

NSW parliament passes 10-year defect insurance laws for new apartment buyers

Builder-developer <a href="https://www.apartments.com.au/developers/mcnab-developments">McNab</a> has wasted little time reshaping one of South Brisbane's most significant undeveloped apartment sites after acquiring the property earlier this year.&nbsp;

McNab has lodged plans to scrap an existing approval for two 30-storey towers and instead deliver a single 28-storey residential building, preserving part of the site for a future development opportunity.

The proposal, lodged over <a href="https://www.apartments.com.au/new-apartments/64-peel-street-south-brisbane-qld-4101">64 Peel Street and 9 Cordelia Street</a>, is for a residential-led mixed-use development comprising 124 apartments above a landscaped podium, alongside a boundary realignment that preserves part of the land for a future residential project.

<img alt="First look: McNab resets decade-old South Brisbane approval with 124-apartment tower" data-entity-type="file" data-entity-uuid="743bf564-3f8f-45fc-b8d3-bbf18f5b628f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/mcnab%20Peel%20st%20podium.png?VersionId=EhCxGrVn_VFH3qTbKnI4WppGwaMnOn0t" />

Designed by <a href="https://www.apartments.com.au/architects/hayball">Hayball</a>, the development will deliver 119 two-bedroom and five three-bedroom apartments across 23 residential levels. A five-level podium will accommodate 135 car spaces, while the ground floor will include a 66 sqm commercial tenancy, an activated residential lobby with work-from-home spaces, and a publicly accessible landscaped plaza linking Cordelia and Peel streets.&nbsp;

Communal amenities will span Level 6 and the rooftop, including indoor and outdoor recreation spaces, a swimming pool, barbecue facilities, kitchen and dining areas, lawn space, sauna, steam room and yoga facilities.

The application also proposes a boundary realignment to create a standalone 1,290 sqm development lot while retaining an adjacent parcel for future redevelopment, allowing the balance of the site to contribute additional housing over time.

Hayball said the architecture has been shaped by the site's elevated corner position at the intersection of Peel and Cordelia streets and Brisbane's subtropical climate.

The design incorporates generous landscaped setbacks, a masonry podium wrapped with planting, large north-facing balconies, and a slender tower profile intended to maximise natural light, cross ventilation and long-range views. The rooftop has been conceived as a wellness-focused retreat overlooking Brisbane, with amenities positioned to capture views towards Mount Coot-tha and the CBD.

<img alt="First look: McNab resets decade-old South Brisbane approval with 124-apartment tower" data-entity-type="file" data-entity-uuid="c5f99e84-6ad8-4a87-82d1-869685b754d2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/mcnab%20tower%20perspective.png?VersionId=Gw0IuJaSAlk.tvGBxInhZOcQAdIB..2b" />

The planning submission positions the proposal as a response to both changing market conditions and Brisbane's Kurilpa Sustainable Growth Precinct planning reforms.

McNab acquired the site after the previous approval was granted, with the existing scheme no longer reflecting current residential market demands, economic conditions, construction challenges, construction efficiencies or the quality of development outcome now being pursued, the planning report noted.

McNab continues to expand its residential development pipeline across Brisbane and the Gold Coast. The developer recently launched The Tannery in West End, securing more than 60 per cent of apartments before the project's public release. It is also delivering Elements Budds Beach in Surfers Paradise and Lucia Highgate Hill, an eight-apartment boutique development overlooking the Brisbane River.

McNab resets decade-old South Brisbane approval with 124-apartment tower

A steeply sloping Bellevue Hill site is set to accommodate a new mid-rise apartment development, with plans lodged for 20 homes that respond to the site's dramatic topography.

The proposal for the consolidated land at <a href="https://www.apartments.com.au/new-apartments/138a-140-bellevue-road-bellevue-hill-nsw-2023">138A-140 Bellevue Road</a> has been designed by Sydney architecture practice Common Office, which has used the site’s substantial fall to distribute the building’s scale and unlock 20 apartments without presenting the full height to the street.&nbsp;

“The unique design strategy leverages the site’s substantial topographical fall to facilitate increased density, presenting a seven-storey profile to Bellevue Road while rising to 10 storeys at the rear,” Common Office said in its architectural design report.

The apartment mix spans one, two, three- and four-bedroom residences. Four two-bedroom apartments are designated as affordable housing, while the plans also include two adaptable dwellings. The mix is majority three-beds, with the typical three-bed apartment offering around 144 sqm internally, with balconies of around 15 sqm.

The affordable housing component represents 15 per cent of the residential floor area and allows the project to access additional height and floor space under the NSW Government’s in-fill affordable housing provisions. The site also falls within the inner area of the Low and Mid-Rise Housing Policy because it is within 400 metres walking distance of Double Bay Town Centre.

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="b1230d0f-3bfa-4a11-abaf-0928c66ef345" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20da.png?VersionId=dZeMK3P.OutGjN8ycjsxm8uNsj_QFWQv" />

Common Office has arranged the building around a masonry podium and a lighter upper volume, drawing on two recurring elements of Bellevue Hill’s established architecture: sandstone bases and the vertical proportions of local Inter-war Art Deco apartment buildings.

“The proposal is governed by a holistic design language that reconciles the solid horizontal masonry of the neighbourhood’s podiums with the elegant verticality of its Art Deco heritage,” the architect said.

“The building maintains a consistent rhythmic logic utilising deep recesses and a sophisticated material transition to break down the 10-storey scale into a series of articulated, human-scale volumes.”

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="0147f503-1af1-4d51-97fb-c2f1cba63a9d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20bldg.png?VersionId=GoW7q3NlK67OpnePXhk7zvklrlKb72Qc" />

Large-format sandstone tiles will define the lower levels, establishing a robust base that negotiates the change in elevation from Bellevue Road. Above, red-tinted precast concrete frames, recessed balconies, anodised aluminium screens and expanded metal details will create a more vertically expressed façade. Integrated planter beds will introduce greenery across balcony edges and recessed sections of the building.

The elongated northern façade has been divided into three recessed vertical masses to reduce its perceived length. Triangular window elements and metal privacy screens reference the geometry of nearby Art Deco buildings while controlling overlooking toward surrounding homes. The southern elevation will incorporate further privacy screening, landscaped edges and deep balconies to maintain light and ventilation.

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="e8679cf1-18bc-4447-8a0f-0052b94ab83c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20da%20rooftop.png?VersionId=5SQqQqRFf76rvE2p1TbxJSweMN70AIbc" />

Private and communal landscaping is distributed throughout the development. A landscaped garden apartment is positioned within the lower portion of the site, while a communal terrace on Level 5 will include a central timber deck, barbecue facilities, resident planting plots and areas for outdoor dining and informal gatherings.

Common Office described the terrace as an elevated sanctuary designed to capture district views and sunlight. Its planting strategy incorporates endemic species associated with the Eastern Suburbs Banksia Scrub, extending the landscape vertically through the building and providing habitat for local flora and fauna.

A second communal outdoor area is proposed at roof level, with built-in seating, paved gathering areas and perimeter planting.

Bellevue Hill is enjoying renewed momentum in the new apartment market, with several boutique developments recently launched and currently under construction. Positive Investment Enterprise is delivering the 16-apartment Kew Palm House on Birriga Road, while Chanine Developments is also under construction at Florian, a 36-apartment project on Banksia Road.

&nbsp;

Bellevue Hill is enjoying renewed momentum in the new apartment market, with several boutique developments recently launched and currently under construction.

First Look: Apartment development pitched for Bellevue Hill, Double Bay fringe

South Brisbane's apartment pipeline continues to build momentum, with <a href="https://www.apartments.com.au/developers/trk-property-group">TRK Property Group</a> lodging plans for a 161-apartment tower on Montague Road as developers accelerate investment across the Kurilpa Sustainable Growth Precinct.

The proposal for 176–186 Montague Road would replace an existing office building with a 20-storey residential tower designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, adding to a growing pipeline of high-density projects reshaping one of Brisbane's fastest-evolving inner-city precincts.

The project has been conceived as a "living building", featuring a flowing tower form, extensive vertical landscaping, and generous communal spaces that respond to the evolving Kurilpa Sustainable Growth Precinct.

TRK Property Group Development Director Matt Kan said the project reflected the confidence developers have in South Brisbane's long-term future.

"South Brisbane is entering an incredibly exciting period, and we see Montague Road sitting right at the heart of that evolution," Kan said.

"With the former Visy site directly opposite us and significant investment planned throughout the broader Kurilpa precinct, there is a real sense of momentum around this part of the city and what it will become over the coming years.

"For TRK, this is an opportunity to be part of that next chapter and deliver a project that responds to where the precinct is heading, while contributing to the continued evolution of Brisbane's river edge."

<img alt="First look: TRK Property joins South Brisbane apartment surge with Montague Road tower plans" data-entity-type="file" data-entity-uuid="590fe1ad-f892-4446-a679-80e33a16d029" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/TRK%20tower%20facade.png?VersionId=uOJStrcKpyHFcPE1w6_9SMAFzVMCcZll" />

The scheme includes a mix of one, two, three and four-bedroom apartments, incorporating multi-purpose rooms in selected residences to provide additional flexibility for home offices or expanded living areas. The proposed mix comprises 15 one-bedroom, 13 one-bedroom plus MPR, 73 two-bedroom, 26 two-bedroom plus MPR, 30 three-bedroom, and four four-bedroom apartments.

Rather than adopting a conventional rectilinear tower, COX Architecture has developed a sculpted form inspired by the movement of the Brisbane River.

"The proposal has been designed by COX Architecture as a 'living building' that responds to the site's riverine setting, floodplain history and evolving urban context within the Kurilpa Sustainable Growth Precinct," the planning report states.

"The architectural form draws from the fluid nature of the Brisbane River, with a curved and undulating tower form that creates a varied architectural edge and avoids a conventional rectilinear tower expression."

The podium has also been designed as an architectural feature rather than a conventional parking structure, with cascading planting, screening and natural-toned materials softening its appearance. Resident parking is elevated above ground level to address the site's flood constraints, while habitable apartments sit above flood planning levels. Upper-level communal facilities are designed to accommodate shelter-in-place arrangements during major flood events.

<img alt="First look: TRK Property joins South Brisbane apartment surge with Montague Road tower plans" data-entity-type="file" data-entity-uuid="01fa15d0-90df-46c7-9555-7941fc45373c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/TRK%20podium.png?VersionId=mHyua.w1pHGBt9qEdWzrlsv.leztUCwO" />

Communal amenity is a major focus of the proposal. Around 1,815 sqm of shared resident space is proposed across the ground floor, level 19 and the rooftop, including co-working areas, indoor and outdoor recreation spaces, wellness facilities, dining and gathering areas, lawn spaces, a rooftop pool and spa, and extensive landscaping. At street level, a landscaped forecourt and approximately 345 sqm of publicly accessible open space along Montague Road are intended to improve the pedestrian experience while activating the building's frontage.

The development will provide 163 car spaces, including 152 resident bays and 11 visitor spaces, together with 144 bicycle spaces incorporating resident storage, visitor parking, bicycle maintenance facilities and e-mobility charging infrastructure.

The site sits within one of Brisbane's fastest-changing inner-city precincts, less than two kilometres from the CBD and within easy reach of South Bank, West End, the Queensland Cultural Centre and extensive public transport connections. The Kurilpa Sustainable Growth Precinct planning framework is encouraging higher-density residential development to help meet Brisbane's housing supply targets while supporting walkable, transit-oriented neighbourhoods.

TRK Property joins South Brisbane apartment surge with Montague Road tower plans

Article summary

<ul data-end="785" data-start="311">
	<li data-end="459" data-section-id="5hbcyr" data-start="311">Pikos Group has released the five-penthouse collection at Skye Kangaroo Point, headlined by a two-storey sky home spanning more than 1,000 sqm.</li>
	<li data-end="561" data-section-id="1p7lq8n" data-start="460">Early buyer interest suggests the residences could set a new Queensland apartment price record.</li>
	<li data-end="667" data-section-id="1y70z0l" data-start="562">The collection includes four move-in ready penthouses and the highly customised Skye One residence.</li>
	<li data-end="785" data-section-id="yvm0y1" data-start="668">The release caps one of Bri​sbane's most ambitious luxury apartment developments overlooking the Brisbane River.</li>
</ul>

<hr data-end="790" data-start="787" />
Pikos Group has released the five-penthouse collection at its <a href="https://www.apartments.com.au/buildings/skye-residences-by-pikos-kangaroo-point-8-river-terrace-kangaroo-point-qld-4169">Skye by Pikos</a> development in Kangaroo Point, with early buyer interest indicating the flagship residences could eclipse every apartment sale previously recorded in Queensland.

The collection crowns the luxury riverfront development with five residences, including four completed penthouses and Skye One, a two-level sky home spanning more than 1,000 sqm that will be tailored to its eventual owner.

[smartcode_project:default project_id=90059 project_image_fid=374075]

Wanting to offer a fully customisable home, Pikos is offering Skye One as a blank canvas, allowing the buyer to work alongside the developer's design team to customise the home's layout, finishes and internal spaces.

The residence will feature a 247 sqm private rooftop terrace with its own swimming pool, sauna, steam room, outdoor kitchen and multiple entertaining areas overlooking the Brisbane River and CBD skyline.

The remaining four penthouses have been completed and are ready for immediate occupation, each offering four bedrooms, expansive open-plan living areas, soaring ceilings and private lift access.

[smartcode_project:default project_id=90059 project_image_fid=374059]

One of the defining features throughout the project is its use of Roman Classic Travertine, with more than 20,000 sqm of the natural stone imported from Italy after being personally selected by Pikos Group Founder and Executive Director Pedro Pikos, interior designer Julie Williamson and third-generation stone specialist Mario Caucci.

Pikos said the penthouse collection represented the culmination of the company's long-term vision for Skye.

"True legacy isn't measured by what we build today, but by what endures tomorrow," Pikos said.

"Our ambition is to create places that become more valuable with time, enrich the lives of generations, and stand as timeless landmarks long after we've stepped away."

[smartcode_project:default project_id=90059 project_image_fid=374060]

Williamson said the interiors were inspired by the natural character of Kangaroo Point and the Brisbane River rather than international design trends.

"Materiality tells the story of a place," Williamson said.

"We looked to the movement of the Brisbane River, the texture of the cliff face and the warmth of the surrounding landscape to create interiors that feel understated, enduring and unmistakably Brisbane."

Positioned above the Kangaroo Point cliffs, Skye places residents within walking distance of Howard Smith Wharves, South Bank and James Street while offering uninterrupted river and city views.

[smartcode_project_cta:default project_id=90059]

Linda Tuck

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