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The family-friendly Zagame's Paradise Resort in Surfers Paradise has been listed for sale, with current owners seeking $70 million.
Located on Ferny Avenue, the current vendors purchased the resort in late 2010 for over $38 million.
Over the past three years, the 358-guest room resort has undergone an extensive refurbishment to now include a <a href="https://www.propertyobserver.com.au/leisure/new-wet-n-wild-waterpark-for-prospect-in-sydney-s-west/2012100256951" target="_blank">water park</a>, ice skating rink and room upgrades.
The resort sits on approximately 2.49 hectares. Its owners have grown the resort's net income from $1.5 million in 2010 to a forecasted $4.45 million this financial year.
The sale comes with development approval for stage one of a four-stage master plan.
Stage one approval includes plans for a 30-storey 447-bedroom residential development for a 6,710-square-metre portion of the site that has been cleared.
The master plan comprises of a four tower mixed use development of 2,476 bedrooms and 7,080 square metres of retail and commercial space.
“We believe that the property will be attractive to a wide group of potential buyers because it is unique in that it is the best income producing development site on the Gold Coast,” says Will McVay of McVay Real Estate.
McVay says he has received a great deal of interest from both domestic and international parties.
The property <a href="https://www.mcvayre.com.au/for_sale/paradise_resort/" target="_blank">has been listed</a> by Will McVay and Sam McVay of McVay Real Estate, with EOI closing April 8.</body></html>

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Zagame's Paradise Resort in Surfers Paradise listed

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InterContinental Hotels Group will build the first Holiday Inn Express in Australia in the Perth CBD.
 The $35 million development comes as <a target="_blank" href="https://www.propertyobserver.com.au/western-australia/perth-property-prices-just-%247500-shy-of-all-time-peak-david-airey/2013020659194">Perth</a> boasts Australia’s highest CBD hotel occupancy rate of 85.1% according to the Deloitte Access Economics Tourism and Hotel Market Outlook report for the fourth quarter of 2012.
It forecasts the average price of a Perth hotel room is also expected to increase 30% by December 2015 from $199 to $259.
December 2012 quarterly tourist accommodation figures released yesterday by the <a target="_blank" href="https://www.propertyobserver.com.au/commercial/commercial-lending-up-86-in-december-abs/2013021359320">ABS</a> record a 71.6% occupancy rate for Western Australia licensed hotels with 15 rooms or more,  a 69.5% occupancy rate for serviced apartments and a 63.9% occupancy rate for motels and guest houses.
By comparison the hotel occupancy rate in NSW is 76.8%, for services apartments its 74.9% and  for guest houses and motels, 57.8%.
The 224 rooms in the Holiday Inn Express will be spread across 20 floors and will incorporate a circa 1888 heritage house.
It will be located at 257 Adelaide Terrace and overlook the Swan River.
The 1,308-square-metre site was purchased in 2007 for $5.05 million.
Launched in 1991, Holiday Inn Express has more than 2,190 hotels worldwide, targeting the more affordable end of the hotel market.
“There is real investment potential in Perth hotels at the moment, with the mining capital of Australia experiencing soaring room rates and a shortage of guest rooms,” says Ralph Nunis, head of Perth-based developer Sunfire Asset.
“The CBD hasn’t seen a new hotel build for more than a decade, so we’re delighted to be working towards a solution for both business and leisure travellers to the city.”
“Once open, the Holiday Inn Express business model also means we will be able to keep operational costs down and room rates at affordable levels, while meeting the highly competitive demands of the market for comfort, convenience and value,” says Nunis.
Construction is set to commence mid 2013 and has an expected completion date of early 2015.
“As one of Australia’s gateway cities, it is vital that visitors to Perth can access suitable and affordable accommodation,” says Trent Zimmerman, CEO of Industry Body Tourism &amp; Transport Forum.
Holiday Inn Express is one of nine IHG brands, including three brands currently operating in Australia - InterContinental, Crowne Plaza and Holiday Inn. 
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Perth to get first Holiday Inn Express as city hotel occupancy rate hits 85%

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Monson Property Group has launched its latest residential development, Evie Apartments, in Port Melbourne.
The project managed 10 off the plan sales at a well-attended launch this week through selling agent Rebecca Pugh.
Located only 100 metres from the bay on Rouse Street, the 36 apartments will be spread across five levels.
Monson Property Group has teamed up with architect RotheLowman and interior designers Hecker Guthrie to deliver a ‘raw to refined’ look through exposed concrete, recycled timber, glass and metal.
<img src="/images/stories/2013/03/eviemarch28one.jpg" width="470" height="520" alt="eviemarch28one">
The apartments will feature limed oak floorboards, Smeg appliances and ceramic benchtops.
One-bedroom apartments start from $499,000 and two-bedroom apartments start from $630,000.
Apartments range in size from 50 square metres to 75 square metres.
“We took our cues from the raw materials and brought it into the living space,” says Hecker Guthrie’s founding director Hamish Guthrie.
<img alt="evie_0000_1" height="234" width="470" src="/images/stories/2013/03/evie_0000_1.jpg">
“From our perspective it was about adding that next layer of refinement through the attention to detail to the joinery, fixtures and fittings.”
“The fresh and neutral colour palette is both a nod to the bayside location and an opportunity for residents to bring their own colour and personality into the space,” says Guthrie.
Located five kilometres from the Melbourne CBD, the north-facing development offers views over the city skyline.
“Evie Apartments is one of the last sites available for development in the Bay Street precinct, so buyers need to be quick if they want to buy into this highly sought after part of Port Melbourne,” says Monson Property Group director Simon Mehegan.
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Port Melbourne's latest development Evie launches with 10 off-the-plan sales

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A Harry Seidler-designed home in Sydney’s Balmain has been listed for auction with a price guide of $6 million.
Located on <a href="https://www.realestate.com.au/property-house-nsw-balmain-113342335" target="_blank">White Street</a>, the three-bedroom, two-bathroom home was built in 1995.
Named the 'Sydney Seidler', it was one of the last residential properties Seidler created before his death in 2006.
The home boasts Seidler’s signature curved walls and roof and triple-height ceilings.
Located on a 798-square-metre waterfront block, the main living areas offer views over the Sydney harbour.
It also includes a pool – surrounded by manicured lawns – and a boatshed and slipway into the harbour is also included.
The property last sold in October 2001 for $3.41 million, which Danny Cobden, director of Cobden and Hayson says at the time, was a record auction price sale of a home in Balmain.
Seidler was an Austrian-born Australian architect and was the first architect to fully express the principal of the Bauhas in Australia.
He designed 180 buildings over his career, including The Australian Square Tower in George Street, the MLC Centre in Martin place and the Ian Thorpe Aquatic Centre in Ultimo.
Cobden says he expects plenty of interest in the house.
The property will go under the hammer on April 20.
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Harry Seidler-designed Balmain home listed with $6m price guide

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Central, the retail heart of the $2 billion Central Park development in Sydney’s Chippendale being developed by Frasers Property Australia and Sekisui House Australia, will launch this spring. 
The retail precinct will comprise 20,000 square metres of retail area that will be integrated into one of Central Park’s residential buildings, <a target="_blank" href="/news">One Central Park</a>.
The retail area will cover six levels.
The street level will focus on fashion retailers and the inside of the ground floor will house a variety of fashion retailers and homeware stores.
The second and third floors will offer a mix of food outlets, bars and entertainment.
<img alt="centralmarch27one" height="248" width="470" src="/images/stories/2013/03/centralmarch27one.jpg">
Central Park has been architecturally designed by Jean Nouvel and local collaborating architect PTW Architects.
French artist Patrick Blanc and French lighting artist Yanne Kersale will also contribute to the project.
The interiors of One Central Park and Central will be designed by Koichi Takada Architects and Smart Design Studio.
<img src="/images/stories/2013/03/centralmarch27four.jpg" width="470" height="233" alt="centralmarch27four">
A main feature of Central Park will be its plans to be an urban village - with greenery growing up the sides of One Central Park and into the building themselves.
Gardens will line the escalators in Central, from ground level down to lower ground level.
 
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A heliostat – a device that contains 320 individual mirror panels – will be fixed to the bottom of the cantilevered Sky Garden of One Central Park and will bounce sunlight through Central during the day.
At night, the heliostat will boast 3000 coloured LED lights to create a light display, designed by Kersale.
“The heliostat will become a dramatic beacon on the city skyline as well as providing a dynamic, theatrical night-time experience for Central customers as it is out intention to trade well into the evening,” says Frasers Property's CEO Guy Pahor.
Central's main access point will be via Broadway Street.
<img alt="centralmarch27five" height="516" width="400" src="/images/stories/2013/03/centralmarch27five.jpg">
Broadway experiences approximately 74,000 pedestrians movements per day and ranks in as Sydney’s third busiest pedestrian street – behind Martin Place and Pitt Street.
Pahor said Frasers was attracted to the retail potential of the area due to the youth-biased demographics of the catchment area.
“55% of the catchment comprises of young singles and couples with a higher than average disposable income which will have a major impact on retail expenditure,” says Pahor.
Pahor says the locality to Central Station was also an important component, with 168,000 commuters passing through each day.
Central will offer time flexibility with trading hours from early morning to late in the evening.
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Central Park's retail precinct set to launch this spring

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Adelaide retailers will be hoping the $385 million Rundle Place development, six years in the making and which opened this week, will draw more shoppers into the CBD. 
Rundle Place features 85 shops over 22,000 square metres of retail space running between Grenfell Street and Rundle Mall as well as an 11-storey office tower covering 30,000 square metres pre-leased to the Bendigo and Adelaide <a target="_blank" href="companies/bendigo-bank">Bank</a>, scheduled to open in October.
<img src="/images/stories/2013/03/rundlemarch27one.jpg" width="470" height="303" alt="rundlemarch27one">
It has been developed by the Pacific Group and designed by retail architect Andrew Mackenzie, the Melbourne-based director of The Buchan Group.
The main entrance to the new centre is at 81 Rundle Mall.
<img alt="rundlemarch27two" height="298" width="470" src="/images/stories/2013/03/rundlemarch27two.jpg">
It will boast some retail firsts for Adelaide including  <a href="https://www.propertyobserver.com.au/retail/rundle-place-secures-canadian-fashion-tenants/2012120258220" target="_blank">three Canadian retailers</a> as well as Ted Baker, Seduce, Peter Jackson and Vince Camuto stores.
 
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It will also feature a flagship Harris Scarfe store, a Coles supermarket as anchor tenant, along with a mix of other retailers and a 500-seat food court.
<a target="_blank" href="https://www.propertyobserver.com.au/trends/cbre-embraces-flexible-working-space-in-sydney-office/2013031259832">CBRE</a> reported Rundle Place as being 95% leased late last year, but warned that the Adelaide CBD was likely to see an increase in the vacancy rate during the first half of 2013.
<img alt="rundlemarch27three" height="311" width="470" src="/images/stories/2013/03/rundlemarch27three.jpg">
"There are two reasons for this. Firstly, that there are currently several sites which are being marketed for lease, but are still occupied by the current tenant and they are likely to vacate in the first half of 2013," CBRE says.
"Secondly, there are several tenants which currently occupy space on Rundle Mall which will move to the new accommodation in the Rundle Place development when it is completed in March 2013.
"This is likely to result in very limited growth in rentals in the CBD and depending on how much vacancy eventuates and there will be a increase in the incentives landlords will need to offer to attract a tenant."
CBRE reported Rundle Mall, Adelaide's prime retail strip, as having a vacancy rate 5.3% in October 2012. The vacancy rate had increased from 3.11% in June 2012.
<img alt="rundlemarch27four" height="318" width="470" src="/images/stories/2013/03/rundlemarch27four.jpg">
Rundle Mall is anchored by Myer and David Jones and is located between Pulteney Street and King William Street.
The Myer Centre includes a 35,000-square-metre Myer store as well as 105 specialty shops and the Adelaide Central Plaza houses David Jones and 43 specialty retails.
Annual rents in Rundle Mall range from $2,400 per square metre to $4,000 per square metre, according to CBRE.
The vacancy rate in more affordable Rundle Street remains relatively low, having decreased to 1.94% in February 2013 from 2.91% in the second half of 2012.
Rundle Street, the fashion and food precinct, located between East Terrace and Pulteney Street, is anchored by a two-level Target store and Rundle Street East boasts designer stores such as Sass and Bide, Marcs and Lisa Ho.
Annual rents on Rundle Street range from $400 to $1,200 per square metre.
 
 
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Adelaide retailers hoping Rundle Place will be the place to shop

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R.Corporation began marketing townhouses for the new The Grove development at Maidstone over the weekend, with a drawcard being the collaboration with landscape designer Paul Bangay.
Stage one of the offering, comprising 32 townhouses, completely sold out prior to the launch. Another 12 apartments from stage two, which will have 43 townhouses, sold at the launch.
The Grove development will eventually consist of 145 townhouses built over four stages in Melbourne’s inner west suburb of <a href="/news">Maidstone</a> – eight kilometres from the CBD.
Construction of stage one will begin in July 2013.
Located on Crefden Street, The Grove townhouses will be three-storey with two bedrooms, two bathrooms and feature a balcony and front landscaped garden by <a href="https://www.propertyobserver.com.au/victoria/brighton-estate-woodlands-with-paul-bangay-gardens-returns-to-the-market-on-third-try-title-tattle/2012022153493" target="_blank">Paul Bangay</a> (pictured below).
<img src="/images/stories/2013/03/bangaymarch26one.jpg" width="400" height="412" alt="bangaymarch26one">
“I am excited to be collaborating with R.Corporation on The Grove, as it is an opportunity for me to create my dream for a garden that will reflect the personality of the suburb and lifestyle,” says Bangay.
“Collaboration is all about intellect and mutual respect that leads to creativity and shared fulfillment, which was evident in designing The Grove together.”
R.Corporation says the introduction of Paul Bangay and his <a href="https://www.propertyobserver.com.au/new-south-wales/not-all-black-and-gloomy-in-vaucluse-prestige-residential-market/2013032160015" target="_blank">garden</a> design makes the development a more welcoming, peaceful and attractive place to live.
Buyers will have the choice of two different designs – Jasmine and Lily – with the Lily design starting from $450,000 and the Jasmine design starting from $480,000.
Both designs will feature clean lines and bright liveable spaces.
Homes will range in size from 137 square metres to 158 square metres including the garage and balcony.
Another drawcard is affordability.
“Our design aesthetic is considered, intelligent and sophisticated, but importantly it’s also attainable,” says Rohan Ames of R. Corporation.
“Professionals and young families will be genuinely surprised that they can afford to live in an R.Corp townhouse.”
The collaboration with Paul Bangay is not a first for R.Corporation, which has previously collaborated with French born Philippe Stark on the Tribeca project at the former CUB brewery site in <a href="/news">East Melbourne</a>.
R.Corporation says 85% of purchases so far have been investors with the other 15% being owner-occupier.
It is anticipated that 20% of sales will come from an overseas market looking to invest.
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With Paul Bangay gardens R.Corporation woos buyers at The Grove at Maidstone

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Swedish fashion retailer H&amp;M is joining fellow European fashion giants Zara and Topshop by venturing into Australian  retail waters.
It announced the news via its <a href="https://www.facebook.com/hm" target="_blank">Facebook page</a> on Thursday night.
“We are happy to announce that we will open our first H&amp;M store in Australia in 2014! Stay tuned for more details,” the post read.
A February Colliers White Paper <a href="https://www.propertyobserver.com.au/retail/zara-topshop-and-uniqlo-lead-retail-property-push-into-australia/2013021859421" target="_blank">notes</a> that H&amp;M has plans for 10 stores in Australia over the next few years, and is seeking 20,000 square metres of space.
H&amp;M offers affordable fashion for men, women and children.
The first store is likely to be in either Sydney or Melbourne.
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H&M confirms plans for first store in Australia

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Hengyi Australia, the mainland Chinese developer which is developing The William, has signed a significant deal with The Wyndham Hotel Group, the world's largest hotel chain.
<div>The Wyndham Hotel Group has bought 87 apartments at The William, which it will manage as serviced apartments.</div>
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The William, which is situated at 199 William Street opposite the Supreme Court, is a 23-level, architecturally designed, 7-star rated building.
Offering a range of one, two and three-bedroom apartments, <a href="https://www.199william.com.au/" target="_blank">The William</a> will also offer serviced apartment accommodation on four of its 23 levels.
The Wyndham Hotel Group is the world’s largest hotel enterprise with 609,600 rooms in 66 countries and owns 15 hotel brands.
<a href="https://www.propertyobserver.com.au/companies/hengyi-australia" target="_blank">Hengyi</a> director Jeff Wang said The William was inspired by glamorous, hotel-style city living. Its future residents will enjoy a 24-hour concierge service as well as luxury amenities such as a rooftop swimming pool and barbecue area, gymnasium, library and theatre.
“Being a residential development among commercial and office space, The William will change the culture and the landscape,” Min Wang, chairwoman of Hengyi said of the project.
“We are certain that the inclusion of Wyndham hotels will be a dynamic new demographic to the northwest of <a href="https://www.propertyobserver.com.au/https://www.propertyobserver.com.au/victoria/tallest-building-in-southern-hemisphere-approved-for-melbourne/2013031759915" target="_blank">Melbourne’s CBD</a>.”
The William development is well under way by Built Construction, and is expected to be completed by August 2014.
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The William apartments are set within the conversion of the former Telstra building, which became vacant in 1994 and was infamously known as a “ghost building”.
Min Wang saw the potential it offered and scooped it up for $45 million in early 2011.
Wang chose property as her first venture into the Australian market.
“It was a risk, but it has paid off,” says Wang, who has sold more than 75% of the 480 apartments spread over its two towers.
“By redeveloping this iconic Melbourne building into a contemporary classic for inner-city residents, we are taking a very sustainable and cost-effective approach,” says Hengyi’s Danielle Ashworth.
“Being a residential development among commercial and office space, The William will change the culture, it will change the landscape,” says Wang.
One-bedroom apartments range in size from 45 square metres to 55 square metres and range from $359,000 to $470,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2013/02/william1.jpg" alt="william1" width="470" height="265">
Two-bedroom apartments range from 58 square metres to 75 square metres and cost between $405,000 and $620,000.
Three-bedroom apartments range up to 80 square metres and start from $750,000.
The project was launched exclusively to Singapore investors several months ago.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2013/02/william2.jpg" alt="william2" width="470" height="265">
The developers also offer offshore buyers a rental guarantee, and the developer will pay for any legal costs.
 
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As some Australian developers struggle to secure finance to commence projects and are often reliant on locking in adequate pre-sales before banks will lend any money to them, Asian developers are increasingly looking to the Australian market.
“The Australian property market is more mature than China’s, its laws are clearer, and business dealings are simple and direct,” says Wang.
“I have travelled a lot and seen a lot of other cities, but there was something more relaxed about Melbourne, and I felt so easily connected to it.”
It is no surprise that Wang chose Melbourne, after it was touted the world’s most livable city.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2013/02/william3.jpg" alt="william3" width="470" height="265">
The developers of The William list three reasons why they chose to invest in Melbourne.
Firstly, Melbourne is the fastest-growing city in Australia. This population growth, especially in the CBD, is driven by the growth in overseas migration and international students.
The population of the Melbourne CBD has grown over the past five years at a rate of 13.9% per annum.
This population growth will mean a significant and growing shortage in dwellings, and with a vacancy rate of 2.4%, rents are growing faster than inflation, which is good news for investors.
Golden Hills property group acts as the middleman for offshore investors and local investors for The William.
A spokesperson from Golden Hills told Property Observer that Asian buyers look to Melbourne for investment properties as it has a strong offering of universities.
Many Asian buyers have the mindset that it is worthwhile to invest in a property where their children can live while they attend Australian university for the duration of their degrees. The investment property also acts as a home away from home for the investor.
Golden Hills says that inner-city localities throughout Asia are viewed as better assets than middle-ring or outer suburbs, and therefore the same logic applies in Melbourne.
Some local market watchers have described the amount of Asian investment in Australian CBDs as a “frenzy”.
Associate professor in environment and planning at RMIT Michael Buxton told The Age recently that foreign developers were participating in a frenzy that threatened the viability of Melbourne’s apartment market.
He suggested a one-bedroom apartment of just 55 square metres would be common in overseas cities like Hong Kong, but new for Melbourne.
This view was rejected by Victorian Planning Minister Matthew Guy, who said Buxton was targeting these developers based on their ethnicity.
The old Telstra building was constructed in 1966 for the Postmaster-General’s Department, and in 1975 Telecom Australia – later Telstra – became the owner.
Telstra remained the main tenant until moving out in 1994 to an office complex on Exhibition and Lonsdale streets.
The empty shell was bought by Singaporean billionaire Tay Tee Peng for $12 million, who then spent a further $10 million to refurbish it but struggled to attract successful tenants.
The William is designed by Bruce Henderson Architects, with interior designs by Carr Design Group.
For more on the allure of Australian property to Asian buyers, <a href="https://www.propertyobserver.com.au/ebooks/free-ebook-australias-allure-for-asian-residential-property-investment" target="_blank">download our free eBook. </a>The eBook is also available for<a href="https://www.propertyobserver.com.au/ebooks/australias-allure-for-asian-residential-property-investment-free-ebook" target="_blank"> free download in Chinese.</a>
For great tips on buying off the plan, download Property Observer’s free ebook – <a href="https://propertyobserver.us2.list-manage.com/track/click?u=24bd0766a834290948593f5aa&amp;id=14e9848476&amp;e=7a53fc6dd9" target="_blank" rel="nofollow">14 tips for buying off the plan: The 2013 guide for investors and owner-occupiers.</a>
 
 
 
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Wyndham welcoming at The William in Hengyi Australia's first venture

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The $120 million Watson Apartments in Walkerville Adelaide sold $50 million worth of property at its mid-March launch.
Securing the sale of 135 apartments out of the 220 apartemnts, the nine-storey building is now 63% sold.
Located four kilometres from the CBD, the latest development by Asian Pacific Group will include a mix of 220 residential apartments and 30 hotel rooms.
One bedroom apartments range in price from $270,000 to $297,000.
Two-bedroom apartments range in price from $360,000 to $551,000.
The sizes for one and two bedroom apartments range from 40 square metres to 66 square metres plus balconies.
Penthouse apartments are still available and offer the opportunity for buyers to work with architects Tectsys to design their own apartment.
As the penthouse level has not yet been built, it gives the opportunity to buyers to tweak the existing layout prior to construction.
Penthouses are priced from $700,000 to $2 million and range in size from 94 square metres to 255 square metres, plus balconies of 49 square metres to 121 square metres.
“Buyers have ranged from young professionals looking to live close to the city to empty nesters keen to downsize and enjoy the low maintenance lifestyle offered by The Watson,” says Asian Pacific Group Chief Executive Officer Will Deague
Residents will have full access to the hotel facilities, including a Michael Klim designed pool and deck, restaurants and health and recreational facilities.
Residents will also have the choice to hire one of the hotel’s smart cars or bicycles for a nominal fee.
The Watson will form part of the Art Series Hotel Group, which currently includes The Cullen, The Olsen and The Blackman in Melbourne.
The development has been named after Tommy Watson, a senior Pitjantjatjara elder who has become a significant contemporary indigenous Australian artist.
A mix of owner-occupiers and investors have so far purchased in the apartment complex.
“Investors have also been keen to jump on board noting the pent up demand for rental accommodation in Walkerville and the strong capital growth potential.”
“Buyers have recognised that the opportunity to buy a new apartment in Walkerville is unlikely to be offered again for many years to come,” says Deague.
The median unit price for Walkerville is $475,000 and offers a rental yield of 3.4%.
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The Watson sells $50 million worth of apartments at public launch

<a href="https://www.apartments.com.au/developers/consolidated-properties">Consolidated Properties Group</a> (CPG) is approaching the launch of its latest Brisbane riverfront development, Castile, on the dress circle Skyring Terrace in Newstead.

VIP buyers are now being engaged, with a full public sales launch coming later this year.

Positioned as the final opportunity to secure a new absolute riverfront residence on the East bank of Newstead, Teneriffe or New Farm, Castile at 47 Skyring Terrace has been designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> as a timeless addition to the Brisbane skyline.&nbsp;

[smartcode_project:default project_id=150489 project_image_fid=371113]

The name Castile draws on themes of permanence, sophistication and legacy, reflecting a broader vision centred on enduring architecture and timelessness in the rarest of riverfront positions.&nbsp;

CPG Chairman and CEO Don O’Rorke said the project had been envisioned as a future Brisbane icon.&nbsp;

“With 47 metres of direct river frontage and never to be built out views, 47 Skyring Terrace is the definitive address on the Brisbane River,” O’Rorke said.&nbsp;

[smartcode_project:default project_id=150489 project_image_fid=371114]

“Rather than following trend-based apartment design, Castile draws inspiration from Brisbane’s great heritage buildings, reinterpreting classical architecture into a contemporary riverfront landmark designed to stand proudly for the next 100 years,” he said.&nbsp;

The approved development will comprise 227 apartments across a 25-storey tower alongside a boutique six-storey riverfront building of just 12 residences.&nbsp;

Construction is scheduled to commence in September 2026.

[smartcode_project_cta:default project_id=150489]

Joel Robinson

CPG unveils Castile Newstead ahead of upcoming sales launch

Australia’s online shopping habits have shifted dramatically over the last decade. As eCommerce volumes surged, so too did the frustrations that came with traditional parcel delivery: missed deliveries, long Post Office queues, parcel theft and the challenge of being home during business hours.

Australia Post’s Parcel Lockers emerged as one of the more practical responses to that changing consumer behaviour.

What started as a relatively niche delivery option has evolved into a nationwide network of more than 1,400 self-service Parcel Lockers positioned at train stations, shopping centres, supermarkets and Post Offices across the country. The system allows Australians to send, collect and return parcels 24 hours a day, fundamentally changing how many people interact with deliveries.

The appeal is relatively straightforward: flexibility.

Instead of waiting at home for a delivery driver or rushing to a Post Office before closing time, users can direct eligible parcels to a Parcel Locker location of their choice. Once the parcel arrives, Australia Post sends a notification with a collection code or QR access through the AusPost app, allowing customers to retrieve their package at any time within the collection window.

For apartment residents in particular, the system has become increasingly valuable.

Higher-density living has created logistical challenges around deliveries, especially in buildings without concierge services or secure parcel rooms. Missed deliveries are common, while parcel theft has become an increasing concern as online shopping volumes continue to rise.

Australia Post itself has repeatedly highlighted the growing issue of “porch pirates” during peak shopping periods, encouraging customers to use Parcel Lockers as a safer alternative to unattended home deliveries.

That security aspect is one of the key reasons the Australia Post Parcel Locker network has grown so rapidly.

Parcel Lockers are positioned as secure, monitored collection points that reduce the risk of theft while also improving delivery efficiency for Australia Post. Instead of multiple redelivery attempts, parcels can be consolidated into a single secure destination.

The Parcel Lockers themselves are free to use through a MyPost account and support a range of parcel sizes up to 16 kilograms and dimensions of approximately 35 x 44 x 61 centimetres.

Beyond receiving parcels, the system has increasingly become integrated into the broader eCommerce ecosystem.

Customers can now use Parcel Lockers to return online purchases, while retailers have embraced the model as a way to improve delivery success rates and reduce friction in the shopping process. Australia Post has actively expanded partnerships with major retailers and promoted Parcel Lockers as part of a broader out-of-home strategy.

The timing of that expansion aligns with broader changes in Australian shopping behaviour.

The acceleration of online retail during and after the pandemic placed enormous pressure on delivery infrastructure. Parcel volumes reached record highs, particularly during Black Friday and Christmas periods, with Australia Post delivering more than 100 million parcels during peak festive seasons.

That growth forced logistics providers to rethink the “last mile” of delivery, widely regarded as the most expensive and operationally difficult stage of the process.

Parcel Locker systems have increasingly been viewed as part of the long-term solution.

The concept itself is not unique to Australia. Parcel Locker networks have become common globally, particularly across Europe and Asia, where dense urban environments and apartment living create similar logistical challenges. But Australia’s geography and suburban sprawl made adoption slower initially.

Now, however, the convenience factor is driving mainstream usage.

For commuters, Parcel Lockers near train stations allow parcels to be collected on the way home from work. For apartment dwellers, they remove the uncertainty around access and missed deliveries.

The rise of the AusPost app has also streamlined the experience, centralising notifications, tracking and Parcel Locker access into a single platform. Australia Post has increasingly pushed customers toward app-based delivery management, partly as a way to combat phishing scams and fake delivery notifications, which have become more sophisticated in recent years.

The Parcel Locker model is also beginning to influence property development itself.

Parcel management has become a growing consideration in apartment building design, particularly as online shopping becomes embedded in everyday life. Many new residential developments are now incorporating dedicated parcel rooms or Parcel Locker systems into foyers and communal spaces.

For developers, parcel management is increasingly viewed as part of the broader resident amenity offering, alongside gyms, wellness spaces and communal work areas.

That reflects a wider evolution in how residential buildings are designed.

Apartment buyers are placing greater emphasis on convenience, security and operational functionality, particularly in higher-density urban environments. Parcel delivery, once considered a minor operational detail, has become an increasingly important part of that equation.

Australia Post’s Parcel Locker network sits at the centre of that behavioural shift.

What began as a simple alternative delivery option has evolved into a key piece of infrastructure supporting Australia’s growing eCommerce economy and changing urban lifestyles.

And as online shopping continues to expand, the role of Parcel Lockers is likely to become even more embedded in how Australians live, shop and receive goods.

How Australia Post Parcel Lockers changed parcel delivery convenience in Australia

Perth’s new apartment market recorded its strongest quarter of sales since Q4 2021, with 412 apartments sold in Q1 2026 and a record quarterly sold value of $537 million, according to Urbis’ latest Apartment Essentials results.

Urbis said the March quarter result reflects strong, highly product‑specific demand across both ends of the market, from more attainable projects delivering at scale, through to premium stock being absorbed by equity‑rich downsizers.&nbsp;

David Cresp, Partner at Urbis, said the key story in Perth is not demand, it is the market’s ability to convert demand into delivered housing.&nbsp;

“This is the strongest sales quarter since Q4 2021, and it reinforces that demand in Perth is real and it’s local,” David Cresp said. “But the task now is delivery, turning that demand into projects that can actually be built and completed.”&nbsp;

[smartcode_project:default project_id=110291 project_image_fid=302785]

<h2>Affordable product leads, premium demand remains resilient</h2>

Sales in Q1 were led by more affordable projects, with The Boulevard (SKS Group) recording 115 sales in the quarter, the presentation noting this is only the second time a single project has surpassed 100 quarterly sales. The project was able to offer more affordable housing product right next to a train station.&nbsp;

Palmyra West (Finbar) also delivered strong results with 28 sales in Q1, following 84 sales in Q4, with an average price of under $800,000, underscoring depth of demand for well‑located, attainable new stock.&nbsp;

At the premium end, Urbis said downsizer demand is continuing, with the results highlighting Romeo (Applecross, Finbar) recording 75 sales and reaching almost 50% sold in one quarter.

Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.

Urbis noted that Perth apartment demand is not speculative, not investor‑led, and not uniform, describing it as localised, often equity‑driven and highly product‑specific, a pattern reflected in the polarisation between strong “attainable” performers and premium downsizer product.&nbsp;

[smartcode_project:default project_id=148957 project_image_fid=364102]

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

Urbis said pricing pressure is cost not demand‑driven: construction costs and delivery risk are now a central constraint, with the results noting build costs remain elevated and volatile, and that energy, fuel and labour uncertainty weigh on feasibility.

David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.

“Developers are really feeling the pressure from a building market that was operating at capacity and securing a builder is challenging,” David Cresp said, adding that even where a builder can be secured, “trying to get to the price that makes the development financially viable is incredibly challenging in the current market.”&nbsp;

Urbis’ broader WA commentary also notes that industry remains at or above capacity with lot and housing creation, and that many builders are limiting new sales to manage stretched workforces and fixed‑price contract pressures, conditions that flow directly into apartment feasibility and delivery timing.

[smartcode_project:default project_id=108869 project_image_fid=317905]

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

While near‑term supply remains constrained, Urbis’ forecast shows completions lifting “Supply is forecast to be back above 1,500 apartments per annum for the first time since 2019”, with 1,775 completions forecast for 2026, and volumes remaining above that level over the following years.&nbsp;

Looking further ahead, completions are forecast to reach 2,500 in 2028, with the report noting 32% of that total is social/affordable, reflecting the role of government‑supported delivery in rebuilding the pipeline.&nbsp;

However, Urbis said Perth remains behind comparable markets on pipeline scale. In a national comparison of projects under construction, the report shows under construction Perth Build‑to‑Sell (BTS) at 3,446 apartments versus the Gold Coast at 7,922. Mr Cresp said “The challenge for Perth is how to we grow the delivery pipeline”.

Urbis’ conclusion is that Perth’s market is increasingly defined by product discipline and delivery certainty, with the research identifying “delivery certainty is key” and calling out builder risk and procurement models as core success factors, alongside “timing and staging”.&nbsp;

Perth apartment sales hit strongest pace since late 2021 as builder capacity tightens

<a href="https://www.apartments.com.au/developers/sammut-developments">Sammut Group</a> has secured development approval for its latest Brisbane apartment project, marking the Sydney developer’s next step in expanding its Queensland pipeline following the success of its debut Gold Coast development, Coast.

The approved project at <a href="https://www.apartments.com.au/new-apartments/44-glen-road-toowong-qld-4066">44 Glen Road, </a><a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> will deliver a 15-storey riverfront apartment building with 42 residences, significantly increasing the scale of the site’s previous approval for a smaller luxury scheme. Designed by Bureau^proberts, the development will comprise a mix of predominantly four-bedroom and two-bedroom apartments positioned to maximise Brisbane River and city views.

Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.

“Brisbane was the right step for Sammut,” Sammut said.

“With the success of Coast we thought we should definitely look to do more in Queensland alone. We then pushed up to look at Brisbane. We've been looking for I'd say two to three years actually and it was hard to find the right location.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-23%20at%203.27.14%E2%80%AFPM.png?VersionId=dYAVIL7qdcGA8ojvkslSrLjczXFejSSx" />

Sammut said suburbs including New Farm and Teneriffe were considered before the group ultimately focused on Toowong due to its strong downsizer demographic and limited supply of developable riverfront land.

The site was acquired off-market after what Sammut described as a lengthy negotiation and planning process, with the developer pursuing an uplift to the original approval.

“We are DA approved now which is very exciting,” Sammut said.

“We've had our change approval come through and we've obviously doubled the height, 15 storeys plus rooftop. We've got 42 amazing apartments that are going to be coming to market soon.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.27.26%E2%80%AFPM.png?VersionId=ohkRkY0dIZlqdfME2EZePsCQavRiBadE" />

Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.

“A place where traditional Queensland living has taken place for centuries; Toowong is seeing a shift of contemporary influence, commercial and retail hubs mixed with well-considered residential offerings – all the while maintaining its character and charm,” the architect noted in planning documents submitted to Brisbane City Council.

The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.

“They said the mix of four and two-bedroom apartments capture the ‘fundamental qualities of Queenslander living,’ translated into the context of a contemporary subtropical building.”

The development sits just off Coronation Drive within walking distance of Toowong’s retail precinct and the upgraded Regatta ferry terminal, while also benefiting from proximity to the incoming green bridge connection to West End. Sammut said the accessibility and amenity offering were central to the site’s appeal.

The approval adds to growing residential activity along the Toowong riverfront, joining nearby projects including Consolidated Properties’ Monarch Residences and Spyre Group’s ARC Residences.

Sammut secures approval for debut Brisbane apartment development in Toowong

Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.

Lanevick, founded and directed by Steve Maroun, is expecting to receive approval in the coming months for a new apartment development in Gladesville, with the aim to launch it to the market later this year.

The 51-apartment project, designed by Studio Johnston, will comprise a mix of one-, two-, and three-bedroom apartments positioned toward the Hunters Hill downsizer market.

“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.

“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.

“They still want good spacious entertaining areas, they still want quality design, but they also want flexibility and the ability to enjoy life a bit more after working hard for a long time.”

The project sits near Boronia Park and within close proximity to the Parramatta River foreshore, an area Maroun says offers more of a Hunters Hill lifestyle than a traditional apartment precinct.

“From a lifestyle perspective, it’s really more Hunters Hill than Gladesville,” Maroun said. “You’re close to the foreshore, close to parklands, and still connected back into the village precinct.”

From level four and above, apartments will capture water views&nbsp;toward Sydney Harbour. Communal amenity will include rooftop entertaining areas, wellness spaces, and a gym tailored toward owner-occupier buyers.

“We’ve really designed these apartments around that buyer coming from the Hunters Hill LGA and what they’re actually looking for in their next chapter.”

The proposed development has also been designed to respond to the changing character of the broader Gladesville town centre, where a growing number of mixed-use and residential proposals are expected to emerge over the coming years.

“Gladesville presented a rare opportunity to deliver a genuinely design-led residential project within an evolving lifestyle precinct, just moments from the growing Gladesville town centre, and we’ve approached the project with a strong focus on architecture, liveability and long-term community value,” Maroun said.

Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.

“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.

“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”

The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.

“A big part of the thinking was how do you activate that area properly and create more vibrancy and amenity, which is what Hunters Hill has been looking for,” Maroun said.

Lanevick’s focus since 2020 has largely been on smaller-scale luxury townhouse and terrace developments. The developer recently completed Royale Randwick, also designed by Studio Johnston, where prices reached $3.65 million. The project was featured in the UDIA NSW 2026 Professional Development Prospectus and was also named a finalist for Development of the Year.

&nbsp;

Nicola Trotman

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