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A Sydney property first listed above $1 million in August 2015 has popped back on the market with an overall reduction of $325,000, according to SQM Research.
SQM Research's top 10 most discounted properties list noted a new entrant to the list, <a href="https://www.realestate.com.au/property-house-nsw-georges+hall-120488325" target="_blank">14 Endeavour Road, Georges Hall</a>, was first listed in August 2015 accepting offers million and is now back on the market for $875,000.
Six of the ten entries are priced under $430,000.
SQM Research managing director Louis Christopher said the two bedroom home is set on a large 1195 sqm block with the opportunity to knock down, rent, renovate, and or live in and the property appears to be in a good living condition thanks to the current owners recent renovations.
"These renovations include new timber floors and modifications to both the kitchen and main bathroom," he said.
"The listing states that the property features a storage shed and garage, in addition to a large teenage retreat/office area in the rear of the block.
The vendor states that the property is located in a 'prime' location. The property is located approximately 27 km outside of Sydney CBD, and only a short walk away from local Schools, parks, shops and transport." 
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mick.cee-iDmgDDAmu8

First home buyer cheapies on the SQM top 10 most discounted list

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Government Property NSW has listed 10 more Millers Point properties for sale through auction on behalf of the Department of Family and Community Services through McGrath Estate Agents.
Money from the sales will eventually be reinvested into some 1,500 social housing projects across NSW.
The below properties will go to auction 25 February. 
<a href="https://www.realestate.com.au/property-house-nsw-millers+point-121752550" target="_blank">20 &amp; 22 Kent Street</a>: Neighbouring two and three bedroom residences, part of a group of three two storey terraces constructed on the site of a former quarry cutting in the 1870s.
<a href="https://www.realestate.com.au/property-house-nsw-millers+point-121752670" target="_blank">28 Kent Street</a>: A four bedroom two storey terrace built in the 1870s that was previously a barber shop and restaurant.
<a href="https://www.realestate.com.au/property-house-nsw-millers+point-121753094" target="_blank">46 Kent Street</a>: Known as ‘Chelsea House’ – this property is a five bedroom, two storey terrace built for local auctioneer William Higstrim in the early 1870s.
<a href="https://www.realestate.com.au/property-house-nsw-millers+point-121752510" target="_blank">38 Argyle Place</a>: A four bedroom residence, part of the ‘Wentworth Terrace’ row built by the prominent Merriman family in 1887-1888.
<a href="https://www.realestate.com.au/property-house-nsw-millers+point-121752734" target="_blank">40 Argyle Place</a>: A three bedroom terrace that was occupied in the late 1880s by champion rower Charles A. Bros.
<a href="https://www.realestate.com.au/property-house-nsw-millers+point-121752390" target="_blank">60 Argyle Place</a>: A wide, grand three bedroom terrace in the Grimes’ Buildings row.
<a href="https://www.realestate.com.au/property-house-nsw-millers+point-121752358" target="_blank">51 Lower Fort Street</a>: Known as ‘Wendovir’, this four bedroom, three storey property is part of Palermo Terrace, constructed in the mid-1880s.
<a href="https://www.realestate.com.au/property-house-nsw-millers+point-121752378" target="_blank">63 Lower Fort Street</a>: A three bedroom residence in Vermont Terrace and an example of early Federation Queen Anne architecture.
<a href="https://www.realestate.com.au/property-house-nsw-millers+point-121752422" target="_blank">71 Lower Fort Street</a> (above): This three bedroom two storey residence, part of Eagleton Terrace, was built in 1876 by local shipwright, Robert Drysdale.
 
Government Property NSW  announced the appointment of McGrath Estate Agents as the exclusive sales agent for the next phase of the Government’s Millers Point terrace sales program late January.
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10 heritage Millers Point properties on the market through Government Property NSW

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Residential vacancies nationwide rose during December with a final vacancy rate of 2.7% recorded, according to SQM Research, who put the increase down to seasonal trends.
SQM research recorded 81,401 rental vacancies in December, according to managing director Louis Christopher, who said the demand for rentals is still on the rise.
"The national rise is attributed to a combination of factors, including issues with supply and demand, the ongoing impact of the commodities downturn, and seasonal holiday trends," he said.
"December for example, normally does record a sharp rise in vacancies.
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"Notably, Darwin has recorded a fall in asking rents of 12.3% for houses and 11.2% for units over the past 12 months, according to SQM Research. Yearly falls have also been recorded in Perth, with asking rents down 9.6% for houses and 9.7% for units."
Mr Christopher said Hobart has recorded the fastest rental rises for the capital cities with asking rents rising 6.9% for houses, while units underperformed, falling by 1.6%. Hobart also has the most affordable rental accommodation with rents for houses at just $340 a week, while units on average rent for $270 a week.
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December capital city house asking rents rise 6.9% in Hobart: SQM Research

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GUEST OBSERVER
Australia’s population rose by 0.3% over QII and annual growth held steady at 1.4%.   Australia’s population is estimated to be 23.8 million as at June 2015.   Net migration continues to be the driver of population growth, although its contribution to growth has eased.
The big picture
Australia’s population growth rate has been easing as a result of a slowdown in net overseas migration. The decline in the population growth rate has been a contributing factor to why potential growth in Australia is now estimated to be around 2¾% (potential growth was previously assumed to be around 3¼%).  Weak productivity growth and the ageing of the population have also weighed on potential growth.
Australia’s population growth rate was over 2% in 2009.        Notwithstanding, at 1.4%pa, Australia’s population growth rate is still a lot faster than most other OECD countries. This means that the economy needs to be expanding at a faster pace than most other OECD countries to achieve full employment.   
<a href="/images/2015/12/16/Screen%20Shot%202015-12-17%20at%201.12.08%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/12/16/Screen%20Shot%202015-12-17%20at%201.12.08%20PM.png" alt=""> The major driver behind Australia’s population growth continues to be net overseas migration (NOM).  However, its contribution to population growth has come down over the past few years.  Both sides of federal politics favour high levels of immigration to partially offset some of the effects from the ageing of the population.
The ‘grey army’ – those aged 65 and over – continue to grow as a share of Australia’s population. The growth of this age cohort underpins the structural decline in labour force participation. That said, there has recently been a cyclical bounce in the participation rate due to a lift in the demand for labour. The aging of the population has increased the dependency ratio (the age‑population ratio of those typically not in the labour force) which underpins the need for fiscal reform.
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<img src="/images/2015/12/16/Screen%20Shot%202015-12-17%20at%201.13.20%20PM.png" alt=""> The detail
Australia’s population is estimated to have risen by 73k in QII (+0.3%). The lift takes the population to 23.8 million as at June 2015. The ABS estimates that NOM was 168k in 2014/15, down from 189k in 2013/14.  And well down from the peak of 315k in 2008.
State outcomes are mixed, but population growth rates have been converging. The decline in mining investment and associated downturn in mining‑related employment has contributed to a sharp slowdown in WA’s population growth. Victoria’s population growth rate is the highest across the States. Strong population growth in the Garden State underpins the big lift in residential construction in Melbourne.
Table 1 - Population Growth Q2 2015
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Gareth Aird is economist at Commonwealth Bank and can be contacted <a href="https://www.propertyobserver.com.au/https://au.linkedin.com/pub/gareth-aird/14/790/905" target="_blank">here</a>.
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Australia's population growth rate continues to ease: CBA's Gareth Aird

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National capital city auction volumes have slowed from 2,989 last week to 1,727 this week, according to CoreLogic RP Data, who state this is a similar number to this time last year.
Some 872 auctions are scheduled for Melbourne this week, down from 1,572 last week. 457 auctions are slated for Sydney, compared to 891 last week. 
CoreLogic RP Data state 2015 was the busiest year for auctions on record, with total auction volumes expected to clear 108,500.
To put this into perspective, there were 104,444 capital city auctions held in 2014, 81,473 in 2013 and just 62,713 in 2012.
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2015 the busiest year for auctions on record: CoreLogic RP Data

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Savills has opened its first office in Canada following the purchase of Toronto-based commercial real estate firm Real Facilities.
Stan Krawitz, founder and president of Real Facilities, will oversee the operation for Savills Studley as executive vice president, founder and head of Canada.  
He said Savills Studley and Real Facilities have collaborated on numerous large transactions for clients on both sides of the border for more than five years. 
"In many ways, this is just the formalization of the great partnership we’ve enjoyed. Joining Savills Studley provides us with a true global platform for our clients.  Many Canadian companies are expanding to the U.S, as well as seeking locations in Europe and Asia," he said.
"The transition has been seamless.”
Savills operates from over 600 owned and associate offices, employing more than 30,000 people in over 60 countries.
 
 
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Savills open first Canadian office with eye on Asia

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Sydney's CBD office market saw positive growth during 2015 with the third quarter showing a positive net absorption of 25,600 sqm, the seventh consecutive quarter  of positive net absorption in the CBD office market, according to Herron Todd White.
Herron Todd White's December December Month in Review said the strong tenant activity across the Sydney CBD has seen vacancy further tighten, with the Sydney CBD being the only national CBD office market with a total vacancy below 10%.
"Prime and secondary gross effective rents increased over the year, with a recorded increase of 2.7% at the end of the third quarter," it noted.
"From a supply perspective, a key development underway in Sydney is Barangaroo. The first practical completion, Barangaroo South, was recorded in quarter three. The International Towers Sydney (T2) is being completed in stages, with the low and mid- rise components completed, offering 59,385 square  metres of lettable area.
"Nine other commercial office projects are currently under construction across the Sydney CBD, including 200 George Street and 333 George Street. While a number of these projects comprise tenant pre-commitments, it is expected that the shifting tenant profile down to Barangaroo will result in increased available office space in the vacated buildings."
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Third quarter positive growth in Sydney's CBD office market: HTW

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Economic growth predicted in the Westpac-Melbourne Institute Leading Index is stuck below trend, with growth in the Australian economy in the first half of 2016 under expectations.
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The Index, which predicts the likely pace of economic activity three to nine months into the future, decreased from –0.13% in October to –0.21% in November. 
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Westpac chief economist Bill Evans said components of the Index which have contributed to the slowdown are: ASX 200 (–0.38 percentage points); dwelling approvals (–0.13 ppt’s); yield spread (–0.37 ppt’s); and aggregate monthly hours worked (–0.17 ppt’s). 
"This result is a little disappointing. In the two previous months we had seen some modest improvement in the growth rate raising hopes that growth in the Leading Index might exceed trend by year’s end," he said.
"Unfortunately, the set-back in this result leads us to the more general conclusion that growth in the Leading Index remains stuck below trend. The growth rate has now been below trend for the last five months.  
"Recall that both Treasury and the Reserve Bank are now assessing trend (or potential) growth at 2.75%. Westpac’s current forecast for 2016 entails an annual growth pace in the first half of 2016 of 2.75% (trend). The signal from the Leading Index indicates that our forecast may be somewhat optimistic. "
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Leading Index growth rate slows: Westpac

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Brisbane's LGA median house price over the September quarter rose to $615,000, according to the REIQ Queensland Market Monitor report.
The median house price set in the June quarter was $610,000.
REIQ CEO Antonia Mercorella said the Brisbane market, and  the southeast corner of Queensland was leading the state’s recovery. 
“It’s been difficult for areas of the state that were heavily reliant on mining to find their feet, but we’re starting to see indicators that suggest we are heading towards firmer ground,” she said. 
“Confidence in the residential house market is growing with sales activity up over the quarter across almost all southeast Queensland regions."
House listings in SE Queensland were up, with house sales in Ipswich posting a 12% increase. The annual trend is up 3.6%
Toowoomba and Cairns recorded the shortest average days on market over the year to August. Toowoomba house sales increased 13% over the quarter and held the state's lowest average vendor discounting rate of 5.3%. 
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$615,000 median house price for Brisbane LGA: REIQ

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Capital city price growth will slow in the new year to between 2 and 5%, with price growth from Sydney and Melbourne unlikely to meet that of 2015, according to new data released from Domain.com.au.
The Domain State of the Market report states while house prices are expected to increase in 2016 across all capital cities, they will do so at more subdued rates.
Domain.com.au senior economist Dr Andrew Wilson said buyers and sellers will see a significant change to the dynamic of Australia’s capital city housing markets in 2016.
“Australian housing markets have generally experienced a rollercoaster ride of buyer activity and prices growth through 2015, in the face of dramatic changes to interest rates, he said.
"Depending on local supply and demand, we are likely to see house price growth of between two and five per cent over the next 12 months. The extraordinary prices growth reported by Sydney and to a lesser degree Melbourne over the past year will not be matched over 2016, with those markets rapidly returning to the pack. 
"While the housing market is likely to be relatively subdued comparatively, it is likely that activity from some buyer types – particularly investors – will remain robust and increase. Despite higher interest rates, investors will be drawn to the relatively high yields available and continued taxation advantages – particularly for small-scale investors."
National house price growth expectations for 2016 The following table outlines the expected house price growth for each capital city: 
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2016 mid-range house price growth forecasts
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Sydney
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4%
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Melbourne
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5%
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Brisbane
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4%
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Adelaide
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4%
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Perth
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2%
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Hobart
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4%
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Darwin
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3%
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Canberra
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4%
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Melbourne to lead, as housing market growth tipped to slow in 2016: Domain.com.au 

The residential transformation of St Kilda Road is set to continue into with more new apartment plans for the sought-after boulevard.

Wing Tai Asia has lodged plans for a major residential tower at 464-466 St Kilda Road, replacing the former VACC House with an 18-storey mixed-use development designed around a retained heritage podium and a sculpted contemporary tower.

The proposal, prepared under Victoria’s Significant Residential Development with Affordable Housing pathway, would deliver 325 apartments and ground-floor retail across the prominent 4,653 sqm boulevard site in Melbourne’s St Kilda Road North Precinct.

The project centres on the adaptive reuse of the site’s heritage-listed VACC Building, an eight-storey office designed by Bernard Evans that has occupied the address for decades. Planning documents state the development would involve “carefully dismantling and conserving off-site the original metal fabric of the podium visible from St Kilda Road,” before reinstating it as the defining frontage of the new scheme.

Above the restored podium, Wing Tai is proposing a curvilinear residential tower. The scheme includes 172 one-bedroom apartments, 63 two-bedroom apartments, 66 three-bedroom apartments, and 24 four-bedroom apartments, alongside two ground-floor food and beverage tenancies fronting St Kilda Road.

The tower has been designed with substantial articulation and variable setbacks to minimise perceived bulk and maintain view corridors along the boulevard. Urbis, which prepared the planning report, said the design “has been significantly articulated through a curvilinear design” with “an interplay with materials, façade expression and depth” to create visual separation and visual interest.

The proposal also includes 254 basement car spaces, landscaped pedestrian links connecting St Kilda Road and Queens Lane, and a biophilic landscape strategy featuring canopy trees, raised planters, cascading greenery and a glass oculus pool overlooking the eastern frontage.

Planning documents confirm the $270.1 million development will contribute 3 per cent of project costs to the Social Housing Growth Fund as part of the application process.

Wing Tai acquired the St Kilda Road property in 2018 alongside Abacus Property Group for $95.38 million, before later consolidating ownership of the site. The property previously served as the Victorian Automobile Chamber of Commerce headquarters for around 60 years.

The transformation of the St Kilda Rd boulevard is already beginning to materialise, with a number of high-profile projects recently completed, launched, or approaching launch as developers continue to back the long-term appeal of the precinct.

Among the most notable recent completions is Louise by Samuel Property Group, just off the strip on Queens Lane, the same pocket Hirsch &amp; Faigen recently launched The Queensbury. Mirvac is too on the same street with The Albertine, which is approaching completion.

Dexus recently secured approval for its slice of St Kilda Road, while Gurner also has approved plans for the precinct.

Joel Robinson

Wing Tai unveils 325-apartment St Kilda Road tower on former VACC House site

Malaysian developer <a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> is the latest to jump into St Leonards booming Transport Oriented Development precinct.

The developer, which has previously delivered Sapphire by the Gardens apartment development in Melbourne, identified the Atchison Street site in 2023. It filed a Scoping Report around 12 months ago, and now has revealed the designs for the new&nbsp;40-storey mixed-use tower.

The State Significant Development Application covers <a href="https://next-portal.urban.com.au/projects/14650/summary">20-22 Atchison Street</a>, a 1,374 sqm site positioned between St Leonards Station and the new Crows Nest Metro station.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the project would deliver 181 apartments, above a four-storey commercial podium, five basement levels, and new public domain works along Mitchell Street. The apartment mix comprises 35 one-bedroom apartments, 39 one-bedroom-plus-study apartments, 85 two-bedroom apartments, and 22 three-bedroom residences.

The proposal has been lodged as a shop-top housing development under the NSW Government’s TOD planning pathway, which allows increased density around key transport infrastructure. The site sits within the recently rezoned Crows Nest Accelerated TOD Precinct.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b799673d-48e2-46b0-801a-0e33a9330100" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20site.png?VersionId=dPh0UfwfaHpbFL1R7H1cbZNbIW0CHbCC" />

SP Setia acquired the Atchison Street site as part of its continued expansion into the Australian apartment market. In comments made to City &amp; Country (The Edge Malaysia) in 2023, SP Setia President and CEO Datuk Choong Kai Wai described the acquisition as “a strategic move” aligned with the group’s post-pandemic market recovery strategy.

“Our target for this exceptional development is local and overseas buyers, including first-home buyers, downsizers and investors,” Choong said.

The tower has been designed as a slender vertical form rising from a mixed-use podium, with COX Architecture positioning the development as a response to the evolving St Leonards and Crows Nest skyline.

“The purpose of the project is to facilitate the delivery of high-quality housing at a strategically located site and deliver a built tower outcome that is consistent with the desired future character of St Leonards and aligns with the TOD controls,” the design report stated.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b1a85eee-76f7-436c-a6da-73ba827b9b13" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20entry.png?VersionId=dA9jHGPMcm.dDbwk4QfxqWiY5bfh3UVt" />

The podium would incorporate retail uses fronting Atchison Street, commercial tenancies, landscaped communal areas, and pedestrian improvements along Mitchell Street. Vehicle access and loading would be consolidated via Atchison Lane.

Residents would have access to more than 665 sqm of communal indoor and outdoor spaces, while the development proposes 96 parking spaces across five basement levels.

The proposal also includes a commitment for 10 per cent of residential floor space to be allocated toward affordable housing through a monetary contribution.

COX said the tower form responds directly to the emerging high-density character of the precinct while seeking to maximise solar access, cross ventilation, and outlook from apartments.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="2163f85c-f63b-4be3-aafa-f8763976cec5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_5.png?VersionId=WiAmtIKJ6.ZQ41EtYEQ1fol7AeorKBlL" />

“The building is orientated towards north,” the Apartment Design Guide compliance report noted, adding that the tower’s slim form was driven by the constrained inner-urban site dimensions.

The design also incorporates landscaped setbacks and communal open space at podium level, intended to soften the interface with surrounding streets and improve pedestrian amenity.

The project adds to a growing wave of redevelopment proposals reshaping St Leonards and Crows Nest following the opening of the Sydney Metro City line and the NSW Government’s push for higher-density housing around major transport nodes.

Last week Stockland filed plans just down the road. They want to build a <a href="https://www.apartments.com.au/new-apartments/601-pacific-highway-st-leonards-nsw-2065">52-storey tower on Pacific Highway</a>.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">First look: Stockland plans 52-storey, 538-apartment St Leonards tower&nbsp;</a>

First look: SP Setia targets St Leonards skyline with 40-storey TOD tower

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has revealed plans for a new mixed-use tower at 10 Dangar Street, Wickham, advancing a proposal that would reshape the southern gateway to Newcastle’s city centre with one of the city’s tallest residential buildings.

The State Significant Development proposal, now on exhibition, seeks approval for a <a href="https://www.apartments.com.au/new-apartments/bowline-10-dangar-street-wickham-nsw-2293">43-storey tower</a> immediately adjacent to the Newcastle Interchange. The project would deliver around 200 apartments, including 42 affordable housing dwellings, alongside 99 co-living units, a 171-room hotel, retail space, and new public domain integrated through the site.

The scheme marks a significant escalation of plans previously approved for the site. Urban Property Group took over the prominent 2,904 sqm parcel, where excavation and demolition had already commenced under an earlier consent for a 14-storey mixed-use development.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="58a96dd9-407f-4d20-86b4-94e4bfeef74b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20podium.png?VersionId=LGlf08pdFGAZDzvx_CXC4XakHNZRuEE0" />

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, the tower has been conceived as a landmark transit-oriented development anchored to the Newcastle Interchange precinct. The proposal includes 245 build-to-sell apartments across a mix of one, two, and three-bedroom residences, as well as two penthouses. Fifteen apartments and one operational unit are earmarked for NDIS housing. The co-living component would add a further 99 units, while the podium would accommodate retail uses and hotel facilities.

SJB said the site presents “a valuable opportunity to anchor the precinct by setting the standard for design, active ground planes and character at the key southern gateway.”

The architecture responds directly to the site’s position beside major transport infrastructure and within one of Newcastle’s fastest-evolving urban renewal precincts. The tower form sits above a sculpted podium designed to frame new public spaces, including a through-site pedestrian link connecting Station Street to Hannell Street, landscaped plazas, and activated retail edges.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="a7bd6ff0-f7db-4ce8-a6dc-ea56e72c6149" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20lanne.png?VersionId=xzf39VADyhj7zBQY2I9fx9vI62u2tuSb" />

The design report describes the project as part of the broader transition of Wickham into “a vibrant, high-quality mixed-use urban precinct” that leverages proximity to the station, open space, and regional connectivity.

A detailed public art strategy has also been prepared for the development. The strategy positions the project as “a transit-oriented development of state significance at the gateway to Newcastle’s city centre” and outlines a series of integrated artworks responding to Newcastle’s industrial and transport heritage.

Creative Road’s curatorial framework for the project, titled Unveil, draws on “stratified surfaces, carved volumes, and light-filled apertures” while referencing Newcastle’s transformation from an industrial city into a contemporary education and technology hub.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="77a882bb-14b1-4d28-99ff-9438e39508c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20site.png?VersionId=cevgo_vN0eKPK78P8YcEu3mKPLkpFqE7" />

The proposal is being advanced through the NSW Housing Delivery Authority pathway after being declared State Significant Development in June 2025. The accompanying scoping report states the development aims to “maximise the site’s proximity to the Newcastle Interchange by delivering transit-oriented development” while increasing housing supply and affordable housing provision within the Newcastle LGA.

Urban Property Group’s plans align with the long-term strategic vision established under the Wickham Master Plan, which identified the interchange precinct as suitable for substantial uplift in height and density. The current proposal would significantly intensify that vision, positioning the tower among the tallest developments proposed for Newcastle.

The site sits immediately north of the Newcastle Interchange, bounded by Dangar Street, Hannell Street, and Charles Street. It is surrounded by a rapidly growing cluster of residential towers and mixed-use projects that have emerged following the completion of the light rail and transport interchange.

First look: Urban Property Group unveils Newcastle’s latest tower at Wickham interchange

Bottega House has completed settlement of a landmark riverfront site in Macquarie Street, St Lucia, representing its first major Brisbane development.&nbsp;

Positioned on the banks of the Brisbane River, the <a href="https://www.apartments.com.au/new-apartments/180-macquarie-street-st-lucia-qld-4067">premium site at 180 Macquarie Street</a> features uninterrupted river frontage in one of Brisbane’s most tightly held residential precincts.&nbsp;

The proposed development, currently under assessment with Brisbane City Council, has been designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and will deliver a boutique collection of premium residences positioned specifically for owner occupiers and downsizers.&nbsp;

The residences are set to redefine luxury apartment living in the area, with a focus on architectural quality, refined finishes, landscape integration and elevated amenities including curated wellness facilities, resort-style pools and recreation spaces rarely seen in the local market.&nbsp;

Exclusive sales for the project will be led by Keenan &amp; Byrne, ahead of an anticipated launch later this year.&nbsp;

Bottega House Managing Director Nick Malloch said the project reflects the group’s ambition to deliver a highly curated residential offering within one of Brisbane’s most tightly held precincts.&nbsp;

“This is an incredibly rare riverfront opportunity and one we have approached with a long-term perspective,” Malloch said.&nbsp;

“Our vision from the outset was to create a boutique collection of residences that feel more like private homes than traditional apartments, with generous proportions, refined finishes and exceptional amenity throughout."

Malloch says there is a&nbsp;lack of premium owner-occupier stock of this quality in the market, particularly for downsizers wanting space, privacy and a true lifestyle offering without compromise.&nbsp;

"Demand is expected to be strong given the scarcity of premium riverfront opportunities of this nature within Brisbane’s inner-west."&nbsp;

Bottega House secures landmark riverfront site in St Lucia 

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The arrival of the first piling rig officially marks the commencement of construction at SIERA’s new beachside apartment development, Exhale, in Northcliffe.

<a href="https://www.apartments.com.au/new-apartments/exhale-surfers-paradise-8-enderley-avenue-surfers-paradise-qld-4217">Exhale</a>, a glass-encased tower featuring 54 large-scale apartments at 8 Enderley Avenue, is SIERA’s third Gold Coast development. It follows the recently completed PIPIS Bilinga beachfront project, which achieved suburb-record prices, and the soon-to-be-completed Chevron Island development, Tapestry.

[smartcode_project:default project_id=112661 project_image_fid=359603]

<a href="https://www.apartments.com.au/developers/siera">SIERA</a> Founder and Managing Director Brent Thompson said the arrival of the piling rig represented a significant milestone for the development, which is scheduled for completion in late 2028.

Over the next month, around 260 piles are expected to be installed as work progresses on the basement structure. The building is anticipated to rise above ground level early next year, before unveiling its sculptural glass curtain wall, developed in collaboration with specialist façade engineers.

“The façade was designed to maximise panoramic coastal views while creating a distinctive architectural identity,” Thompson said.

[smartcode_project:default project_id=112661 project_image_fid=355935]

Designed by BDA Architecture, Exhale will comprise just 54 two- and three-bedroom residences across 26 levels, a level of low-density living rarely delivered in this beachside pocket between Surfers Paradise and Broadbeach.

The project has been conceived as a resident-only building, with no short-stay accommodation permitted. SIERA says the model is intended to appeal to long-term owner-occupiers rather than transient holiday demand.

[smartcode_project:default project_id=112661 project_image_fid=361052]

Residences have been designed with large-format layouts and expansive glazing, with most apartments featuring more than 30 metres of glass frontage to maximise natural light and ocean views.

The amenity offering spans two levels and centres on wellness and lifestyle, including a heated magnesium pool, sauna, yoga and Pilates studio, gymnasium, private dining facilities, cinema lounge, and dedicated surfcraft storage.

[smartcode_project:default project_id=112661 project_image_fid=359607]

More than half of the apartments have already sold. SIERA has also opened a sales gallery for Exhale at its Chevron Island commercial premises, near its Tapestry tower and the site of its second Chevron Island apartment development, which is slated to launch in early 2027.
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Michael Crawford

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