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While The Hobbit movie continues to be a box office draw, some people are taking the next step into the magical world and building hobbit-esque homes.
We are all conscious of our carbon footprint in this day and age, but some people have decided to do their part by using the earth as building material – Property Observer looks at the three best hobbit homes from around the globe.
<img height="315" width="470" src="/images/stories/2013/01/hobbit1.jpg" alt="hobbit1">
Located by the seaside in Atlantic Beach Florida, the Dune House (pictured above) was designed and constructed in 1975 by architect William Morgan.
As per its name, the Dune House was built inside a dune.
The wall shapes were inspired by Morgan’s experience in the navy and the curved walls of submarines.
With the shape in mind, Morgan built two cave-likes structures within the earth with large openings towards the oceanfront.
The 1,5000-square-metre Dune House is separated into two living quarters of one bedroom and one bathroom.
The property was recently listed for sale for $US1.4 million.
<img height="269" width="384" src="/images/stories/2013/01/hobbit2.jpg" alt="hobbit2">
With the help from his father in law and visiting friends, Simon Dale built his hobbit-like home in Wales (pictured above) for his family over a period of four months and spent a total of £3,000, or $4,570 AUD.
Dale dug into the hillside for shelter and used stone and mud for the retaining walls and foundations.
The frame of the house was built from oak thinnings from the surrounding woodland, and straw bales were placed in the floor, walls and roof for insulation.
A skylight in the roof lets in natural sunlight, and solar panels are used for lighting, music and computing.
Dale said he is not a builder and this type of building is accessible to anyone. He only used a chainsaw, hammer and a one-inch chisel.
The philosophy of earth-sheltered construction is based on three fundamental principles, including energy saving, energy recovery and drawing energy from the environment.
<img height="314" width="470" src="/images/stories/2013/01/hobbit3.jpg" alt="hobbit3">
Located in Big Sur California, architect Mickey Muennig mastered the eco-minded architecture more than 30 years ago before it became a fashionable trend.
The Cooper Point house (pictured above) blends in with the landscape – literally – with a roof of wild grass and California poppies.
The house is built like a bunker, with concrete retaining walls at both ends and all-glass walls in between.
Muennig developed his own style of design by experimenting with earth, stone, redwood and eccentric roof shapes.
The half-buried walls provide insulation and savings in energy, with the owner estimating a total of 50% savings on energy compared to a traditional house.
“It doesn’t require much maintenance, but sometimes we go up there with a weed whacker when it gets too shaggy,” the owner told WSJ magazine.
Kevin McCloud’s Grand Designs featured one endeavour with <a target="_blank" href="https://www.visitcumbria.com/pen/underground-house.htm">a two-storey house that burrowed backwards into rock in Eden in Cumbria </a>around 2002.

Not much resembles hobbit houses in Australia – notwithstanding the mostly unappealing underground homes of Cooper Pedy. And a mud brick home or two that appeal to the few.
Australia does have a slightly forlorn-looking attempt at building an underground sanctuary in Brisbane’s Mount Cotton (pictured below).
{yoogallery src=[images/stories/2013/01/jan16mtcotton]}
Built in 1985, the house is completely below the surface.
Owner Ian Bridge said he hasn’t needed to use air-conditioning since he moved in as the house creates its own micro-climates.
It is currently listed for sale seeking a $620,000-plus price after failing at its October 2012 auction.
Even in New Zealand there are not many real life examples, although jewellery tycoon Michael Hill did win awards for his The Hills golf club house, an innovative underground bunker-style building in 2008. But his plans to build 17 subterranean houses on and around the swish golf course in Central Otago don't appear to have eventuated.
One company ColFibrex is offering easily erected earth sheltered housing (artist's impressions below) that uses the insulation and stability of the surrounding earth, plants, rocks and trees to provide an even temperature throughout the year.
{yoogallery src=[images/stories/2013/01/jan16hobbits]}
<a target="_blank" href="https://www.colfibrex.com/en/index">The greenhouse system is assembled with prefabricated modules made of space-age resins and fibers</a>.
You just have to tell them how you would like your house and within a few days it will be designed and all the necessary pieces will be shipped to you.
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Tolkien-style hobbit homes yet to reach The Shire, but there's something at Mt Cotton

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South Australia's richest man, Con Makris, has bought the Marina Mirage shopping centre on Queensland's Gold Coast for $52 million.
<img alt="marinacentre1" height="293" width="470" src="/images/stories/2013/01/marinacentre1.jpg">
The shopping centre was placed on the market after private group Fenix were placed into receivership by St George Bank.
The centre was listed in October last year with expectations of up to $60 million.
The 11,800-square-metre centre is split across two levels and comprises 100 shops and 700 parking spaces.
“The Gold Coast has been down for the past four years… but it’s just hit the bottom and is now on the way up,” Makris told The Financial Review.
Makris said that conditions had never been better for buying commercial property as borrowing costs were low and capital growth expected.
“The shopping centre is a destination. It’s where all the top fashion designers are, the best restaurants – it’s a place for the rich and famous to shop and dine,” says Makris.
Christopher Skase built the shopping centre 25 years ago and sold it to MFS Diversified Trust for $28.4 million in 2005.
MFS Group sold the centre in the same year to Fenix Real Estate for $40 million.
Fenix invested about $30 million into the asset but went into receivership.
David Winterbottom and Martin Madden from receivers KordaMentha appointed McVay Real Estate to sell the centre after they secured a $68 million deal with two Chinese groups for the neighbouring Palace Versace.
“It’s in the middle of all the five-star hotels – Palazzo Versace, the Sheraton – and they’re going to build a casino on land next to the shopping centre,” Makris told the Gold Coast Advertiser.
“This is the Miami of Australia,” says Makris.
The centre is opposite the $62 million Sheraton Mirage Resort and includes premium tenants such as Hermes, Tommy Hilfiger and Calvin Klein.
Con Makris founded Makris Group, which acquires shopping centres and today is a $1.5 billion-plus South Australian company.
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Billionaire Con Makris buys Gold Coast's Marina Mirage shopping centre for $52 million

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Residex has looked at the best-performing suburbs for units in each state as at November 2012, with Aubin Grove in Perth experiencing the highest capital growth last year of 26.62%. According to the report Rosehill and Wattle Grove were Sydney’s highest performing suburbs for units.
SYDNEY
Rosehill units had a median price value of $322,000 and a median rent of $400 per week. This offers a median rental yield of 6.46% and a capital growth of 10.93% last year.
Wattle Grove had a median unit value of $463,000 and a median rental price of $496 per week , or a rental yield of 5.58%. Wattle Grove experienced a 10.63% capital growth last year.
BRISBANE 
Marsden and Kingston were the top-performing suburbs in Brisbane units in November, with Marsden having a median value of $314,000 and Kingston at $246,000.
The median rent for Marsden was $340 per week – a median rental yield of 5.63% – and Marsden experienced a 13.42% capital growth.
A three-bedroom unit located at 73-81 Demeio Road, Marsden, is currently listed for sale with a $326,000 asking price and an asking rent of $330 per week.
Kingston had a median value of $246,000 and a median rental price of $280 a week. The median rent rate is 5.9%, and Kingston experienced a 9.51% capital growth last year.
MELBOURNE
Box Hill South was Melbourne’s best-performing suburb for units in November, with a median unit price of $486,000.
Box Hill South had a median rental price of $485 – a median rental yield 5.23% – and experienced a capital growth of 6.25%.
Mont Albert North is Melbourne’s second highest performing suburb for units, with a median unit price of $667,000.
Mont Albert North had a median asking rent of $555 per week – a median rental yield of 4.33% – and experienced a capital growth of 6.19% last year.
PERTH
Aubin Grove was Perth’s top-performing suburb for units, with a median unit price of $317,000 and a median rental asking price of $425 per week.
Aubin Grove had a median rental yield of 6.99% and experienced a staggering capital growth of 26.62% last year.
Morley is Perth’s second highest performing suburb, with a median unit price of $405,500, and had a capital growth of 24.08% last year.
The median asking rent in Morley is $445, with a median rental yield of 5.70%.
ADELAIDE
Adelaide’s top two-performing suburbs for units were Surrey Downs – with a median unit price of $305,500 – and Munno Para West, with a median unit price of $112,500.
Surrey Downs has a median weekly rent for units of $295 – a rental yield of 5.06% - and Surrey Downs experienced a capital growth of 11.24% last year.
A three-bedroom unit located at 3/412 Yatala Vale Road Surrey Downs sold last year for $310,000 and has a weekly rent of $320 per week.
Munno Para West had a median rental price of $245 – a rental yield of 11.43% – and experienced a capital growth of 9.88% last year.
HOBART
Hobart’s top-performing suburbs for units include Berriedale – with a median price of $202,000 – and Sandy Bay – with a median unit price of $351,500.
Berriedale’s median weekly rent is $245 – a rental yield of 6.38% – and Berriedale unit prices fell 0.75%.
Sandy Bay’s capital growth dropped even more  than that of Berriedale, with a -2.61% capital growth last year.
Sandy Bay has a median weekly rent of $340 – a rental yield of 5.05%.
ACT
ACT’s top-performing suburbs were Casey and Weston.
Casey had a median unit price of $385,500 and a weekly rent of $450. This gave Casey a 6.09% rental yield and a capital growth of 10.59% last year.
Weston’s median unit price is $432,500 and weekly rent is $460.
This gives Weston a rental rate figure of 5.54% and a capital growth figure of 7.02%.
DARWIN
Leanyer and Woodroffe were Darwin’s best-performing suburbs for unit investments, with Leanyer having a median price of $416,000 and Woodroffe having a median price of $334,000.
Leanyer’s median rental price was $470 per week – a rental yield of 5.88% – and Woodroffe’s median rental price was $390, a rental yield of 6.12%.
Leanyer experienced a capital growth of 11.68% last year, and Woodroffe experienced a capital growth of 10.96%.
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The suburbs with the best-performing units around the nation – from Box Hill South to Aubin Grove: Residex

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The long-established horse riding school Samarai Park in Terrey Hills, NSW, has been sold, but for a little less than its $3 million price expectations.
Property Observer <a href="https://www.propertyobserver.com.au/new-south-wales/samurai-park-riding-school-on-sydney-s-outskirts-listed/2012091956689" target="_blank">reported</a> on the listing in September last year, when the two-hectare northern beaches acreage was listed by Kevin Packham from LJ Hooker.
The sale was lower than that of its prior $3.28 million sale in 2007.
Located at 90 Booralie Road, Terrey Hills, just 20 minutes from the Sydney CBD, Samarai Park offers expansive northerly bushland views over its two-hectare holding.
The horse riding school opened in 1956 and still offers agistment, lessons, riding camps and children’s birthday parties.
Samarai Park was founded by Thelma Budrodeen.
The property was sold by the Budrodeen family in 1998 for $1.25 million, with it onselling again in 2000 at $1.6 million.
It still operates as a riding school and offers boarding for horses for $235 per week. Float storage is also available for an extra $15 per week.
Samarai Park is centred close to the Ku-ring-gai Chase National Park, with direct access to national park riding trails.
The property comprises of an office and shops, staff quarters/self-contained flat, two full-size dressage arenas and a full-size jumping area with lighting.
Samarai Park has 33 stables, 24 day yards, tack, feed and storage rooms, a lunging area, wash bays and three work sheds plus a dam.
The three-bedroom home located on the property consists of a study, two bathrooms and an outdoor swimming pool. The outside parking accommodates for 20-plus vehicles.
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Samarai riding school falls short of its desired $3 million price hurdle

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Swimming pools were once designated to the ground level of apartment complexes, and for a while to the dark, internal basements, but today they’re increasingly offering sky-high outdoor views.
The aquatic rooftop trend comes on the heels of the democratisation of the tops floor with the trend also seen through <a target="_blank" href="/news">rooftop gardens</a>, and even cinemas.
<img height="353" width="470" src="/images/stories/2012/12/radius.jpg" alt="radius">
The Radius apartment complex in <a target="_blank" href="/news">Woolloongabba, </a>Brisbane, will have a 20-metre three-lane lap pool (pictured above) on the rooftop of the nine-storey building.
The sky deck will offer tiered viewing decks, sun terraces and two 12-seater spas – all with panoramic mountain views of Brisbane – on its expected March 2014 completion.
Designed by Hayes Anderson Lynch Architects, Radius Apartments is a close three kilometres to the CBD.
Warren Hyatt from Majella Group – developer of Radius Apartments – says placing the leisure amenities on the roof allows for a larger scale of facilities than if the swimming pool were at the ground or podium level, where space is limited.
Warren Hyatt also says a pool on the roof increases privacy, as residents do not look down onto the recreation facilities.
With its prime Melbourne CBD position at 199 William Street, Melbourne, The William is another new development embracing the trend.
<img height="265" width="470" src="/images/stories/2012/12/thewilliam.jpg" alt="thewilliam">
The William offers views from the rooftop swimming pool on level 23 (pictured above), with a barbecue and lounge area.
Comprising 470 units, the development is designed by Bruce Henderson and developed by Hengyi Australia.
A bit more low rise, and right opposite the sandy beach, EightyEight in <a target="_blank" href="/news">Albert Park, </a>Melbourne, will on its much-awaited commencement and completion have a fourth floor lap pool overlooking Port Phillip Bay.
<img height="353" width="470" src="/images/stories/2012/12/88beaconsfield.jpg" alt="88beaconsfield">
Designed by Omiros One Architects (O1A), EightyEight (pictured above) offers 27 residential dwellings.
O1A says it is committed to the health of the environment and the creation of buildings that show a deep respect for the planet.
With construction to commence March next year, EightyEight is currently 50% sold.
One-bedroom apartments start from $950,000 and two-bedroom apartments start from $1.4 million.
EightyEight has an expected completion date for the last quarter in 2014.
 
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<img height="353" width="470" src="/images/stories/2012/12/belvedere.jpg" alt="belvedere">
The $140 million development Belvedere by Winten Property Group boasts a 12.5-metre lap pool (pictured above) on the rooftop terrace.
Located at 138 Walker Street, <a target="_blank" href="/news">North Sydney</a>, Belvedere soars 22 levels high, and the rooftop terrace also hosts a gymnasium and relaxation areas.
On offer are one-, two- and three-bedroom apartments ranging from $375,000 to $2.95 million.
With an expected completion date of November 2013, Belvedere has currently sold 80% of the 195 apartments.
<img height="353" width="470" src="/images/stories/2012/12/divercity1.jpg" alt="divercity1">
Divercity at <a target="_blank" href="/news">Waterloo </a>in Sydney (pictured above)  is another new development to embrace the swimming pool trend.
Suitable for those afraid of heights, Divercity apartment towers range between six to 12 storeys high.
The lifestyle floor – two floors high – features an outdoor heated 20-metre lap pool that overlooks the street below, and an outdoor yoga studio.
Also included is an outdoor kitchen equipped with a barbecue and pizza oven for that after-swim feed.
Developed by Becton and designed by Turner and Associates architects, Divercity has a late 2013 completion date.
Matthew Chun, the Becton Property Group chief says says developers are opting for higher-level swimming pools due to street level noise and the benefit of offering residents more privacy and security.
“Residents are more favourable to having pools adjacent to aesthetically pleasing outdoor entertainment spaces, as opposed to an indoor pool,”
Chun says the introduction of these facilities increases tenant demand, reduces rental downtime and improves rental growth for investors.
The Becton boss also notes public swimming pools and gyms generally require an admission or membership fee; therefore swimming pools in apartment complexes are seen as a free benefit to tenants.
Michael Fox, managing director of Little Property Group – developer of Central South Yarra – says the rooftop trend stems from tenants and their landlord investors seeking low-maintenance recreational living options.
“They want to enjoy the outdoor scenario,” says Fox.
Fox says the additional recreation space adds to the value of all apartments, despite the loss of revenue from sale of the top floor or rooftop.
“Essentially, it’s an extension of their apartment. Residents are happy to live in smaller spaces but have other facilities at their fingertips so they can entertain their guests in an open and unique environment.”
We’ve also looked at the trend of starry-eyed<a target="_blank" href="/news"> rooftop cinemas</a> leading the way in outdoor viewing.
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Rooftop pools make a splash as developers bring penthouse amenities to the people

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The Belrose Hotel on Sydney's northern beaches has sold to the Redcape Property Fund for about $23 million through Ray White Hotels.
The pub was bought from the Bayfield family who gave it a $10 million facelift in 2009.
The facelift involved turning the Belrose Hotel – formerly The President - into a modern pub with bar, bistro, café, gaming area and multiple restaurant areas.
The hotel was last listed for sale in 2006 and sold for $14 million.
The Redcape Property Group is run by the former Foster's chief executive Trevor O'Hoy.
The selling agent, Ray White Hotels managing director Andrew Jolliffe, said the hotel was "a near perfect example of a future-proofed large format suburban hotel freehold, enjoying multiple revenue streams, ample parking and high barriers to entry for proximate competition."</body></html>

Belrose Hotel sells for about $23 million

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The Argo hotel in South Yarra will be transformed into a two-level boutique apartment complex with Pace Development Group at the wheel.
Located at 62-74 Argo Street – with frontages on Hyland Street and Moore Street – the 1,407-square-metre property will comprise 39 one- and two-bedroom apartments, to be known as Argo Apartments.
<img alt="arog2" src="/images/stories/2012/12/argo.jpg" width="470" height="282">
One-bedroom apartments will range from $389,000 to $469,000.
Two-bedroom apartments will range from $579,000 to $699,000.
Depending on their taste, residents may choose from either a light or dark colour scheme for their interior.
<img alt="arog2" src="/images/stories/2012/12/arog2.jpg" width="470" height="282">
Architects ROTHELOWMAN will combine the existing façade of the building with modern architecture.
The <a target="_blank" href="/news">South Yarra</a> building was built circa 1866 and was formerly known as Sheppard’s after Thomas Sheppard, the first licensee.
In 1927, plans were submitted for the rebuilding of Sheppard’s by the interwar architect Gordon J Sutherland, and more work took place circa 1974 – around the same time it was renamed the New Argo Inn. Its facade will be included in the new design.
The New Argo Inn operated as a live music venue and then functioned as a fine dining restaurant.
Argo Street gets its name from the Argo immigrant sailing ship in 1857.
<img alt="argo2" src="/images/stories/2012/12/argo2.jpg" width="470" height="265">
“We really wanted to create a development that was reminiscent of the classic ideals that have made South Yarra so sought after for so long,” says Darly Wilkinson from Pace Development Group.
“An intimate and exclusive development that allows the resident to enjoy the best of the iconic neighbourhood, but we removed from the hustle and bustle,” Wilkinson says.
Pace is understood to have secured the development site for around $5.3 million. It was listed with price expectations of around $6.5 million, according to The Age.
It was owned by investors, including George Saade, a developer and the former owner of Armdale restaurant Giorgios, and David Tamir, whose company paid $3.65 million in 2006 when it bought the site from a syndicate that included members of the Shulkes, Graeve and Blau families.
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A new tune for heritage building as Argo Apartments takes shape in South Yarra

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Sydney, Melbourne and Brisbane rank among the world’s top 10 priciest shopping strips, according to the latest CBRE global retail rents report.
Hong Kong tops the list and ranks as the world’s most expensive retail destination, with rents of US$4,334 per square foot (A$44,380 per square metre) for prime retail, per annum.
Hong Kong’s rent level is more than four times higher than the fifth-placed London - US$988 per square foot – as Central, Causeway Bay and Tsim Sha Tsui are dominated by luxury brands.
<img height="585" width="470" src="/images/stories/2012/12/cbredec19.gif" alt="cbredec19">
The CBRE report says that prime rents remain high in key gateway markets due to strong flows of international tourists seeking luxury products.
“Hong Kong and other Asia Pacific markets have benefited from international retailers – particularly fast-fashion, cosmetics, jewellery watch, and mid-range fashion retailers – aggressively seeking prime locations across the region,” says global chief economist of CBRE Ray Torto.
“Retail rental growth in the Asia Pacific region is expected to continue to ease as the economy slows, consumers cut back on discretionary spending, and retailers turn more cautious,” he says.
New York is the second priciest shopping destination with rents on fifth avenue increasing 17% quarter-on-quarter.
New York is $2,925 per square foot of prime retail per annum, almost triple that of Tokyo who is in third place at $1,084 per square foot of prime retail.
Sydney is Australia’s most expensive shopping strip, experiencing a slight rise in rents in the 2012 third quarter and coming in fourth on the list at $1,017 per square foot per annum. 
The report says that international groups expressed a strong interest in prime CBD locations in Melbourne, where its high streets performed well having been dominated by cafes and restaurants.
Melbourne is sixth on the list, at $850 per square foot per annum, falling short of London at $988 per square foot.
“Given the current economic landscape, retailers are understandably seeking highly trafficked prime locations. Cities with international reputations for luxury shopping are especially in demand,” says Torto.
Zurich is slightly cheaper than Melbourne at $830 and just beating that of Paris’ shopping strips at $828.
Moscow is in ninth place at $739 per square foot per annum and Brisbane is number 10 at $642 per square foot per annum.
“Given the limited supply of prime space throughout these locations, prime rents will remain high in the foreseeable future,” says Torto.
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Sydney, Melbourne and Brisbane in world's top 10 priciest shopping strips

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The last vacant residential beachfront land disposal on Sapphire Beach in Coffs Harbour has prices ranging from $269,000 hillside to $1.2 million beachfront. 
<img height="353" width="470" src="/images/stories/2012/12/sapphire.jpg" alt="sapphire">
Sapphire Beach is rife with big names, including mining magnate <a target="_blank" href="/news">Nathan Tinkler</a>, who purchased Noorinya on a headland for $11.5 million.
<img height="353" width="470" src="/images/stories/2012/12/sapphire3.jpg" alt="sapphire">
Stockland’s David Pitman and ABN AMRO’s Simon Perrott purchased oceanfront properties on the next headland just along from the new estate.
The 14 beachfront lots and 25 hillside lots – released in June 2011 – range from 472 square metres to 904 square metres.
<img height="353" width="470" src="/images/stories/2012/12/sapphire4.jpg" alt="sapphire">
Sapphire Beach Estate is located on oceanfront drive at 740 Pacific Highway – eight minutes north of the city of Coffs Harbour.
Many of the lots boast panoramic island and ocean views.
<img height="353" width="470" src="/images/stories/2012/12/sapphire4.jpg" alt="sapphire">
“The topography, vegetation and stunning ocean and beach outlook are the perfect canvas for a distinctive and contemporary coastal community,” says director of architectural firm Cox Richardson Philip Graus.
<img height="353" width="470" src="/images/stories/2012/12/sapphire5.jpg" alt="sapphire">
“A aspect of this estate comes from the work the developers have done to meet planning legislation for coastal development.”
“All lots are north- or north-east facing and are protected from strong winds. The southerlies go straight over the top because of the headland,” says agent from Real Estate of Distinction Peter Stone.
<img height="353" width="470" src="/images/stories/2012/12/sapphire6.jpg" alt="sapphire">
“I would expect these lots to double in value in five years,” Stone says.
“I have had an unprecedented amount of interest from Queensland in particular over the past couple of months,” says Jason Burnett from The Edge Coffs Harbour.
“Obviously we are hoping to see some sales from these enquiries over the school holiday period,” says Burnett who's hoping for the first sale over the summer break.
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Sapphire Beach hopes to secure summer holiday makers with cheque books

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After some modest declines and stagnation during the month of October, vacancy rates rose 0.1% on a national level during the month of November.
But significantly Victoria tipped the 3% equilibrium, according to SQM Research.
On a national level, vacancy levels rose from 1.8% to 1.9%, with a total of 54,067 vacancies.
Melbourne had a 3.2% vacancy rate, an increase of 0.4% from the October figure of 2.8%.
Melbourne has a total of 13,411 vacancies and is up year-to-year by 0.2%. SQM Research considers 3% to be “equilibrium” in rental markets, ie a balance between landlord and renter interests. 
Darwin also experienced a modest increase of 0.4%, from 0.7% to 1.1%, totally 256 vacancies. This could spell some relief for Darwin, which has been recording a vacancy rate of less than 1% for quite some time now.
Sydney is up by 0.2% to 1.8%, with a total vacancy rate of 10,048. The figure accords with the recent Real Estate of NSW data.
Adelaide rose 0.1% to 1.5% with a total vacancy rate of 2,429 during the month of November.
Canberra went from 1.0% in October to 1.3% in November, an increase to 684 vacancies.
Hobart had a gradual increase of 0.1% to 2.1% with 571 vacancies.
Perth is still a tight market, increasing 0.1% to 0.7% with a total vacancy of 1,302. Year-on-year, Perth has been unchanged.
“The rise in vacancy rates this month is the result of a seasonal effect which occurs normally at this time of year. We expect December to also record a rise as well, due to seasonality,” says managing director of SQM Research Louis Christopher.
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Melbourne tips the 3% vacancy rate equilibrium: SQM Research

<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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