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Property investors have been warned of a looming oversupply of new units either in the pipeline or currently developed within the popular CBD region of Wollongong, according to Herron Todd White.
Herron Todd White's September Month in Review noted demand for units was previously driven by locals however the "Sydney spill over" from investors and self managed superannuation funds is putting pressure on the local market.
"The combined effect of a recent retreat by several of the main stream lenders to the SMSF market together with an increase in interest rates could put downward pressure on rental returns and potential stock over-supply," the report warned.
"Well located 2-bedroom CBD units are presently commanding prices in the high $500,000 to $620,000 mark, and 3-bedroom units in good locations fetch over $800,000 up to $1 million in some cases."
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Wollongong's looming oversupply of new units: Herron Todd White

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GUEST OBSERVER
A wise investor once said: “People’s expectation of the future is set by their experiences in the immediate past.” No truer is this phrase than the phenomena of the Sydney market over the past 2-3 years. It’s also unfortunately why I think there is pain ahead for those still contemplating a residential property investment in Sydney or Melbourne.  
Think about it; with between 62% (all NSW mortgages, July 2015 CoreLogic) and 68% (Nationwide: AFG) of mortgages being investment loans, an investor should realise that with only 32% of participants potentially buying property for its underlying utility value (ie: to live in!), investors will happily shun a location if it presents no potential for meaningful growth in the near future.  Investors certainly don’t need to live there! Now, I am certain of the direction of these changes, but of course the timing is open for debate. 
At Oasis Property we maintain our bias towards a correction of between 7-15% in the Sydney market. In Melbourne...less so (5-8%). My expectation is that this play out over the next 2-3 years. In almost every extended discussion I have with people about this, I find disagreement. But the startling thing about this is the disagreement is not because they necessarily disagree with our experience OR the fact that Sydney and Melbourne prices have outperformed on every metric. No. They are disagreeing only because of sentiment and psychology. No sound reasoning, just emotion built on expectation, based on recent performance.  As I have cited many times publicly...and almost ad nauseum for 12 months now, the fundamental reason for owning property in Sydney and Melbourne has been exhausted. That is, the baseline amenity (a house) being built for a consumer (owner or tenant) that is ready to live in it...is too expensive. Expensive to the point that a homeowner finds it more logical to rent (at 2-3% yields...this is entirely rational) OR the bank will not extend them the finance to lend. (rational or not...the buyer doesn’t have a choice in this!) 
All this brings me to a tried and trusted logic that has served me well as an investor. From the mouth of legendary investor Rick Rule. “The cure for low prices...is low prices.” And similarly the inverse of this...the cure for high prices...IS high prices.” 
Before you think that notion sounds absurd… hear me out. Rick is a billionaire. You are probably not. Using this narrative below to example this notion, allow me to expand: 
If a developer cannot buy land, build a property and make a profit – they will not build that property. There MUST be an incentive to do it. Or building will stop. It is called a market clearing price. 
For example. If land can be purchased in Lane Cove for $1m, and a new dwelling costs $600k to build (=$1.6m), yet the market price is only be $1.4m, the dwelling will simply not get built. Why would they? Would you?
Exacerbated over an extended period of time, if this incentive is not achieved...the will be no properties built over an extended period of time. Demand will build up (like it has). It’s a predictable outcome.    Eventually, the market will realise that there is a housing shortfall.    Now, with that situation in place as ‘tinder’ for the market, it only took the dovetailing of the low interest rate environment to light a fire under the property. The rest is modern history. 
Hence the saying: “the cure for low prices...is low prices.” It is that simple.
Taking that example of that Lane Cove property I referred to.  We see that at $1.4m the maths doesn’t work. In fact, even at $1.6m it doesn’t; what with stamp duties, borrowing and holding costs. In reality, most developers I know wouldn’t even start the project if it returned a market price of $1.9m. (~12% after costs) Developers will roughly work off a model of 30% and often include contingency in this plan to scale downward or upwards from here. They’d want to see $2.2m to get them started on this project. 
And now we’ve got ourselves a market clearing price! And that’s exactly where Sydney and Melbourne have been over the past 3 years.  Now we’re well past it.    
The problem is of course, that this effect works the same way at the other end of the market...the top! Many more properties are being constructed and have been constructed now that this incentive has been created. This has had the effect of inflating the cost of property well and beyond the affordability of the everyday property owner, which is the benchmark we all must base our assumptions on. 
Do not base it off the overseas/Chinese investor. They will (eventually) only pay what is necessary to beat the next highest bidder. Do not base it on the wealthy investor, they will be subject to, and more likely price in higher interest rates. Do not base it on the self managed super fund purchaser. NO. Base it on the home owner. The person that needs a home and can either afford to pay for it or not. (Hint: do some research...[lack of] affordability is now through the roof!)
What we are finally left with is too much stock on the market and elevated prices for those buyers that are left. I think we are almost there. You do not want to be holding that parcel when that music stops! 
So eventually, the “cure for high prices” is the high prices themselves that make them unaffordable for those that want and need to live in them. 
To combat the claim that people believe that Sydney prices will still keep surging, I cite a most recent, but now almost daily occurrence whereby people actually argue with me that they do not believe that Sydney prices will ever go backwards. After convulsing in a fit of laughter, I then reply, with a cheeky grin on my face;
“If that occurred (non-stop growth), it would be the only time in history, in any region, in any mature market - that this has occurred. Ever. Let me repeat...EVER!”
On that note, I’ll leave you with one last reminder. “the cure of high prices...IS high prices!” 
 Gavin McPherson is chief executive officer of Oasis Property Buyers Agency and author of "Value Investing in Property: What would Warren Buffet do if he was investing in property in Australia?" He can be contacted <a href="https://www.oasisproperty.com.au/oasis-buyers/oasis-property-buyers.php" target="_blank">here</a>.
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Is Sydney now the rotten apple for investors? Oasis' Gavin McPherson

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A new bar in Surry Hills is set to open from the team behind Circular Quay's Bulletin Place. 
Dead Ringer, a 150sqm space at 413 Bourke Street in Surry Hills is co-owned by former World Class Bartender of the Year Tim Philips who said the beautiful heritage terrace felt like the perfect setting for Bulletin Place’s sister venue.
Chef Tristan Rosier, formerly of Est. and Farmhouse Kings Cross is creating the menu.
Executive director of estate agency Greencliff, Marcus Chang, said Greencliff was excited to have secured world class operators to bring their vision to the space. 
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Heritage Surry Hills terrace leased for Dead Ringer bar

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A residential development site in the Brisbane suburb of Griffin has sold at a rate of $1.18 million per hectare, with a total size of 15.44 hectares over three lots.
The total development site, located between Dohles Rocks Road and Wagner Road, roughly 22 kilometres north of Brisbane CBD, was sold for $18.25 million to Oxmar Properties through Colliers International on behalf of RSL Care Limited.
A development application has already been lodged for a residential community .
Colliers International’s Brendan Hogan said the vacant land price in the suburb of Griffin has significantly increased over the recent period which is consistent with the strong population growth in the area.  
“Being one of the last available greenfield sites in Griffin, it attracted nine offers from a range of public, private and offshore groups," he said.
“The buyer Oxmar is a local based developer who understands this value proposition as they are already active throughout the Moreton Bay region."
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North Brisbane development site sells for $18.25 million

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GUEST OBSERVER
The minutes of the monetary policy meeting of the Reserve Bank Board for September provided no real surprises. 
However we did see some interesting insights into the evolution in the Bank’s thinking on a number of issues. Of some interest is the differentiation between the services and goods-related sectors of the economy. The minutes note that for both the household and business services sectors, business surveys show conditions were “clearly above average levels” which was consistent with growth in employment and investment in those sectors. In contrast, business surveys only showed conditions in production and distribution of goods sectors to be around average with employment and investment little changed in those sectors. 
This pick up in household expenditure and the depreciation of the Australian dollar were still expected to lead to an eventual pick-up in growth in non-mining investment. 
The commentary around the labour market was a little more mixed than in previous minutes. Forward looking indicators of conditions pointed to the unemployment rate remaining around current levels with some sectors expecting it to fall a little and others pointing to a slight rise. 
The outlook for mining investment appears to have been revised down further with the minutes noting that mining investment would eventually stabilise but at a lower level than the Bank had expected previously. On the other hand surveys indicated that non mining investment was still set to decline further but at a slower pace than implied by earlier surveys. 
Commentary around the housing market has become decidedly more relaxed in recent reports. The minutes note that “measures implemented by APRA had slowed the growth in lending for investment housing”. While the Sydney market was still highlighted as explaining much of the strength in house price inflation it was also pointed out that “housing price inflation had been modest in other parts of the country and negative in some market segments”. 
Overall the weak GDP print (0.2% for the quarter) which was set to be released on the following day was “expected to be weak”. 
International conditions, which focussed around China, were noted as representing “downside risks to the outlook” but it was too early to determine the extent of that revision. 
The minutes indicate that the RBA is less confident about a Fed tightening in September noting that market probability of a hike had fallen substantially in response to the recent volatility in global markets. With the Australian dollar having fallen sharply in recent weeks despite this revised outlook for Fed policy the Bank seems less anxious around the need for Fed action. The commentary around the dollar is just a bland report that the depreciation in the dollar had been in response to significant declines in key commodity prices. It would appear that the Bank is now reasonably comfortable with the degree of adjustment of the AUD. 
Conclusion
Another month has passed by and the Bank is still not giving any encouragement to those folks who are expecting a rate cut by November. In recent weeks market probabilities of that event have reduced from around 80% to around 40%. This pricing is moving more into line with our own views that such a cut is unlikely and indeed rates will remain steady throughout the course of this year and next. Markets have however continued to push out the timing of the first cut with an 80% probability priced by February next year. 
This pricing is much more realistic than the near term prospect that markets had recently expected although our central view remains that rates will be on hold both this year and next year.
Bill Evans is chief economist of <a href="https://www.westpac.com.au/" target="_blank">Westpac</a>.
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No surprises from RBA minutes: Westpac's Bill Evans

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Demand from local developers and Chinese investors in CBD office markets is spilling over into the suburb market, according to new research from Colliers International.
Colliers International Managing Director of Capital Markets &amp; Investment Sales John Marasco said a number of groups, have recently created listed metropolitan office funds but offshore and private buyers are creating demand for metropolitan office space.
"Institutional buyers traditionally prefer the established metropolitan markets of Parramatta, North Sydney and St Leonards in Sydney, Fortitude Valley and West End in Brisbane, and St Kilda Road and Southbank in Melbourne,” he said.
“Given the strong demand for quality assets in our metropolitan markets, it is not surprising that there has been yield compression across most precincts. In Parramatta, yields for A grade stock now average 7.63%, down from 8% per cent in March 2015.
“In St Leonards, yields have compressed by 50bp over the six months to September 2015, to now average 8%, while in Melbourne, St Kilda Road A Grade yields now average 7.63%, down from 7.88%  in March 2015, and City Fringe yields now average 7%."
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CBD office demand spilling into metro markets

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A Melbourne developer has paid $5.95 million for an Elwood Beach residential site with immediate plans to develop it into a luxury 23 apartment complex.
The site, <a href="/expert-insights/investing/elwood-beach-apartment-block-listed-with-6-million-hopes">47 Ormond Esplanade</a>, has an existing approved permit and plans that include including two penthouses and private rooftop terraces. 
Savills agent Julian Heatherich said he fielded over 200 enquiries during the four week expressions of interest campaign, with the purchaser buying on an unconditional basis with a short-term settlement.
Colleague Clinton Baxter said a penthouse apartment at Elwood House sold for $2.95 million off-the-plan recently, equating to a square metre rate of more than $17,000, way over the local area average of circa $12,500 a square metre rate.
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$5.95 million paid for Elwood Beach residential rebuild

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An online contract auction of 31 residential land lots in Sydney's The Hermitage development goes live Sunday 20 September.
The e-contract system, offered through Colin Biggers &amp; Paisley Lawyers allows users to switch between multiple auctions on a computer or mobile and bid.
The auction begins at 11:30am, with bidder registration open from 8:30am to 11am. 
For more information, <a href="https://www.thehermitagesydney.com.au/home.aspx" target="_blank">click here</a>.
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Property auction in Sydney's The Hermitage goes online

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Some 2,765 auctions are expected to be held nationally this week up to Sunday 20 September according to CoreLogic RP Data. 
Across the capital city markets 2,371 auctions are scheduled with 177 across New South Wales.
 
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National auction levels up from last week: CoreLogic RP Data

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Demand for 1970's one bedders is original condition within Ballarat's inner ring is going well, according to Herron Todd White, who see affordability and rental demand for this style of apartment attracting sales of around $150,000 at a rental yield of 5%.
The three bedroom townhouse market, according to Herron Todd White's September Month in Review, has seen significant increases in the last five years with supply met by investors.
"This has seen the capital values for the properties hold steady and developers and agents are now reporting this demand is showing some signs of slowing. As such the next 12 months will reveal if an over supply issue is a possibility," the report noted.
"Off the plan purchases for villas and units have been steady in recent months with three developments of 10 to 20 townhouses each in progress within Brown Hill, Ballarat East and Sebastopol. The villa market has shown approximately a 5% to 10% increase in value over the past five years in the sub prime locations.
"This increase has largely been driven by investors looking for positively geared properties with tax depreciation benefits. Given the increase in supply prices should begin to stabilise. "
 
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1970's one bedders and townhouses the pick in Ballarat: Herron Todd White

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.

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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.

Joel Robinson

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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Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

A collection of just 25 large-format apartments and penthouses overlooking Goodwin Park is entering the Coolangatta market, with <a href="https://www.apartments.com.au/new-apartments/marea-residences-coolangatta-27-27a-dixon-street-coolangatta-qld-4225">Maréa Residences</a> combining a low-density, residential-only approach with uninterrupted park and Pacific Ocean outlooks.

Located at 27 Dixon Street, Maréa comprises three and four-bedroom residences alongside a limited number of dual-level penthouses, with the project positioned between Goodwin Park and <a href="https://www.apartments.com.au/developments/coolangatta-qld-4225">Coolangatta</a>’s coastal precinct.

Construction has commenced, with completion currently estimated for late 2027. Three-bedroom residences are priced from $1.8 million.

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The project has been designed around its northern outlook across the park, with the building’s architecture, landscaping and material palette intended to establish a connection with the neighbouring green space. The residences have been configured to maximise natural light and views across Goodwin Park towards the ocean.

Inside, the material palette incorporates timber, stone and brushed brass, complemented by curved detailing and ambient lighting. Kitchens and bathrooms carry the same natural material approach, while residences also include basement parking, storage and lift access.

Maréa’s penthouses are arranged over two levels and include private pools, adding another layer to the project’s focus on larger-format apartment living. Across the development, residences are configured with three or four bedrooms rather than the broader mix of smaller apartment types commonly found in larger projects.

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Resident amenity is concentrated at rooftop level, where landscaped entertaining terraces and pools take advantage of elevated views across Coolangatta and the Pacific Ocean.

The project has so far been particularly well received by local owner-occupiers and downsizers, according to Urban Activation Property Sales and Marketing Director Matt George, with the residential-only format, construction quality and northern park outlook among the features resonating with purchasers.

“The uninterrupted northern aspect overlooking Goodwin Park has been a key point of difference, with buyers attracted to the sense of serenity and open space the park provides, while still enjoying easy access to the ocean and being within walking distance of the lifestyle and amenities Coolangatta has to offer,” George said.

[smartcode_project:default project_id=150999 project_image_fid=374002]

“The combination of high-quality construction, a residential-only building, park outlook and proximity to the beach has resonated strongly with the local downsizer market.”

The Dixon Street address is within walking distance of Coolangatta Beach and the broader southern Gold Coast coastline, including the surf breaks at Snapper Rocks and Kirra. Coolangatta’s cafés, restaurants and retail are nearby, while Gold Coast Airport is also within close proximity.

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Maréa Residences brings parkside apartments to Coolangatta

Melbourne developer PDG has secured Victorian Government approval for its $1.5 billion Southbank development <a href="https://www.apartments.com.au/new-apartments/the-one-1-queens-bridge-street-southbank-vic-3006">The One</a>, clearing the way for the long-dormant riverfront site opposite Crown to finally be developed.

The Minister for Planning has approved the project at 1-29 Queens Bridge Street, with the Department of Transport and Planning issuing the planning permit following its assessment.

The approval will allow PDG to develop the prominent 5,059 sqm site with a major mixed-use tower comprising premium apartments, including branded residences, a luxury hotel and boutique office space.

PDG acquired the site in late 2024, with its position directly opposite Crown's main entrance and near Melbourne's Arts Precinct making it one of Southbank's most significant remaining development opportunities.

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Designed by COX in collaboration with ODO and PDG, the tower's architecture draws on the movement of the Yarra River, with six vertical pleats running the height of the sculpted facade.

The project will also see the heritage-listed Queens Bridge Hotel restored and incorporated into the development&nbsp;with new hospitality and public uses, including a rooftop venue.

A significant component of The One will be its residential amenity.

More than 5,000 sqm of resident facilities will be delivered across a single level, making it one of the largest consolidated residential amenity offerings proposed in an Australian apartment development.

The planning approval also incorporates a major upgrade of Queensbridge Square, which PDG will deliver in partnership with the City of Melbourne.

<img alt="PDG" data-entity-type="file" data-entity-uuid="73167fcd-1031-4b6f-a408-a064cfe45ed1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.17%E2%80%AFAM.png?VersionId=Pf1AEWxw6SNmBqR0zQW5lyEze.MtxgFp" />

The existing square will be revitalised as a new civic and pedestrian space along the Yarra River, strengthening the connection between the project, Southbank and the riverfront.

PDG Founder and Managing Director Vince Giuliano said the approval represented a major milestone for a site which has remained largely underutilised for more than 15 years.

“This is the most significant Planning Permit approval Melbourne has seen in recent years,” Giuliano said.

“For more than 15 years, this site has remained underutilised. This approval enables us to deliver a project that will contribute meaningfully to the revitalisation of Southbank, restore and reactivate an important heritage building, and create a new civic and hospitality destination for Melbourne.”

The latest approval follows an earlier planning permit issued by the City of Melbourne covering demolition works across part of the site at 9-29 Queens Bridge Street. Those demolition and early works are already underway.

PDG has also started generating early interest in the residential component from owner-occupiers ahead of a planned public launch in early 2027.

PDG secures approval for $1.5bn Southbank apartment development, The One

Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

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Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

Michael Crawford

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