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If you are a potential owner occupier or investor with a property budget of $500,000, it can go a long way in the Tasmanian residential property market compared to other states, according to valuation firm Herron Todd White in their residential market report for July 2016.
"This figure is within a price bracket in the residential market which is characterised by purchasers that are second home buyers trading up either in location, size or age although recent sales in all regions indicate some investor activity," says the report. 
This market segment is currently the most active within Tassie’s residential property market.
Recent sales within this price bracket include: New Town, approximately four kilometres northwest of central Hobart, a three-bedroom, two-bathroom, renovated period home sold for $250,000. The property has flexible living options, was sold leased and marketed as achieving $610 per week rent.
Tolman’s Hill can be reached via Hobart’s southern outlet and is approximately six kilometres southwest of central Hobart and is where a three-bedroom, two-bathroom modern strata property recently sold for a touch over $500,000. The property is located in a bushland setting with water views and was listed for rent at $450 per week.
In Legana, an outer suburb of Launceston, an older style, partly updated, four-bedroom, two-bathroom property on a large block with river access and an above ground pool recently sold for $500,000. This property is currently being offered for rent at $450 per week.
Charles Street, which some Launcestonians refer to as the Paris end of town due to its strip of cafés and restaurants is where a circa 1900 updated, four-bedroom, two-bathroom terrace property sold recently for just under $500,000. This area is sought after by renters as it is close to Launceston’s General Hospital.
The traditional holiday spots along Tasmania’s northwest coast appear to be where the majority of recent sales around the $500,000 mark are occurring. At Hawley Beach, approximately 24 kilometres northeast of Devonport, a modern three-bedroom, two-bathroom home sold for just over $500,000. The property was subsequently listed for rent at $420 per week.
At Sisters Beach, approximately 22 kilometres northwest of Wynyard, a modern, beachfront, two-bedroom, two-bathroom home sold for just over $513,000.
"With regard to longer term capital gains in the property market, historically in all Tasmanian population centres, centrally located suburbs have best held their value. During the past year Tasmania has continued to enjoy relatively stable economic conditions with some regions experiencing reductions in stock levels resulting in some incremental capital gains in these areas."
Property Observer found this two-bedroom house at <a href="https://www.realestate.com.au/property-house-tas-sisters+beach-119466087" target="_blank">57 Irby Boulevard Sisters Beach, Tas 7321</a> sold for $513,450.
<img src="/images/HTW-Tassie.png" alt="">
 
 
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Second home buyers more active in Tasmania's $500,000 property market: HTW

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The market in Queensland's Toowoomba looks set to continue to soften into the second half of 2016, but the sub-$500,000 price bracket remains the most active as it attracts investors, owner-occupiers and renovators alike, say valuation firm Herron Todd White in its residential property report for July 2016. The report focuses on property investing in the $500,000 range.
Toowoomba’s median house price sits marginally below that of the previous year at $363,000 with reduced sale volumes also recorded. Of all dwelling sales recorded in 2016 to date, approximately 41 percent were between $300,000 and $400,000, while sales over $500,000 only constituted approximately 18 percent. Therefore despite reduced volumes, the sub $500,000 price bracket which comfortably encompasses the median price remains significantly more active than higher price points.
At the $500,000 price point there is a broad range of properties available. The sales below are examples of contrasting property types that have recently sold.
The property below sold for $499,000 in February (CoreLogic) and is a three-bedroom, one-bathroom, renovated colonial dwelling in East Toowoomba. 
<img src="/images/2016/07/11/Toowoomba-first.png" alt="">
In contrast, a Middle Ridge, modern, brick, three-bedroom, two-bathroom property sold for $505,000 in February, according to CoreLogic.
As for rental demand, Toowoomba’s vacancy rate is at 3.7 percent, which is almost double that of previous years and accordingly, there has been a parallel weakening of rental values. Despite this, sub $400 per week rentals have continued to see a relatively stable level of enquiry.
"Overall, despite the softening market conditions there is likely to be continued demand across the board for properties for sale below $500,000 and it is predicted that the owner-occupier dominated suburbs such as East Toowoomba, Middle Ridge, Kearneys Spring, South Toowoomba, Mount Lofty, Darling Heights and Rangeville will continue to record a more stable growth pattern than new investor driven developments across Toowoomba’s western suburbs," the HTW report concludes.
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Queensland's Toowoomba property market set to soften, but sub-$500,000 still scores: HTW

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Oonoonba Hotel – a popular pub in Townsville -- has been listed for sale and is expected to attract investors looking for a slice of Queensland’s hospitality industry.
Located in the CBD area, the hotel at 78 Abbot Street comprises a beer garden, a TAB and gaming area, lounge bar and bistro, and eight motel units.
It is being sold through an expressions of interest campaign managed by CBRE Hotels’ Paul Fraser and Glenn Price along with Power Jeffrey &amp; Co’s Peter Power and Andy Nason.
Fraser said the sale would capitalise on the strength of Townsville’s economy.
“Townsville is positioned for major economic growth over the coming years, with more infrastructure projects mooted than in any other regional Queensland city," Fraser said.
Projects slated for Townsville include a new port, a multimillion-dollar airport upgrade and the $250 million Townsville Stadium.
“Ideally the hotel would suit a hands on owner-operator or smaller hotel group. Its practical layout provides for efficiencies in staffing and overall ease of operation," said Power.
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Popular Townsville pub goes to market

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A freehold property in Melbourne’s inner suburb of Windsor has been snapped up by a Melbourne-based investor for $3.94 million at auction.
The 7 Duke Street property was offered to the market for the first time in 60 years and the purchase price exceeded the reserve by more than $200,000.
Zoned Commercial 1, the property comprises a two-level, 480 square metre building on a 377 sqm site. The purchase price reflected a land rate of $10,464 per square metre.
Selling agent Teska Carson’s Matthew Feld said the fact that the property had not been on the market for 60 years reflected “the tightly held nature of the local market and the strong result’’. 
It is close to the CBD and a stone’s throw from the bayside precinct of St Kilda.
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Building in Melbourne's Windsor sold for $3.94 million in first deal in 60 years

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Melbourne-based developer Tabak Group has listed a modern industrial complex in south-east Melbourne’s precinct of Dandenong with expectations of around $20 million.
Located within the sold out Dandenong Logis Estate, the 16,069 square metre industrial complex has access to Eastlink via Greens Road and the Dandenong Bypass.
The brand new complex comprises a 15,109 square metre high clearance warehouse and 960 square metres of corporate office space.
It is being sold through Savills’ Paul Jones sale via expressions of interest closing August 11.
The property is close to cafes, petrol stations and Dandenong Railway Station.
"We expect strong interest from companies upgrading their existing facility and looking to take advantage of the location, while investors will also be attracted to the underlying land value on one of Victoria’s most desirable estates,’’ Jones said.
Places Victoria’s 154 hectare, circa $500 million Logis Estate, which was created as Victoria’s first integrated eco-industrial business park, set records for the value of industrial land in Melbourne's south-east. It is now sold out, according to a media release.
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Industrial complex in Melbourne on sale through Savills for $20 million 

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With life expectancy now over 80 for both men and women, the way people are planning for retirement is changing, especially for the first wave of Baby Boomers now aged between 50 and 69 years old.
Financial security is the key factor in decisions about when people can retire, particularly for being able to maintain the same lifestyle before retirement.
With low interest rates, it is now almost impossible to live from savings alone, which is leading to a shift in how people are thinking about investments, with more seeking high yielding options.
Jason Huljich, chief executive officer for Unlisted Property Funds, Centuria said, “With the lowering of the government cash rate, it is near impossible to live on savings alone and when comparing investments many are leaning towards unlisted property funds -- which over time have managed to outperform government bonds, the ASX and Australian Real Estate Investment Trusts.”
Traditionally, Australians have sought safety in bricks and mortar in residential property using negative gearing to grow their investment portfolio. However, commercial real estate is becoming more accessible as an investment for all Australians through unlisted property funds, which can provide attractive monthly income, tax breaks and also potential for capital gains.
“When investing in commercial real estate, investors should explore how certain suburbs may increase in demand due to new transport links and other infrastructure, the lack of development sites, increasing amenity and how the office workforce is becoming decentralised from CBDs due to lower rental costs and easier commutes,” Huljich said.
“It’s equally important to properly assess the property’s tenants to help gauge the strength of an investment. Tenants such as government organisations and ASX-listed companies are preferable to smaller private companies and these larger tenants tend to have longer lease periods.”
A recent report by BIS Shrapnel has found that the metropolitan office market in Sydney has begun a strong upward swing and by 2018 the vacancy rate is forecast to fall to four percent across the city and stay low until at least the end of the decade. The same report expects that it will take at least until 2020 for new office space to meet demand which is likely to raise rental rates and will, in turn fuel investor expectation of capital growth and see significant price escalations from now until the anticipated cycle peak in 2021.
“The BIS Shrapnel report forecast that suburbs such as Chatswood in Sydney will see commercial rents rise by over 38 percent in the next six years and buildings such as The Zenith, which is part of a new Centuria unlisted property fund, are likely to benefit significantly from this forecast over the next decade.”
The Zenith, a property strategically located in the geographic heart of Sydney’s dynamic economic hub of Chatswood is being acquired by Centuria Property Funds and is available for private investment until 20 July 2016.
This article reflects the views of unlisted Centuria Property Funds and its CEO Jason Huljich. Centuria Property Funds manages $1.2 billion across 13 unlisted property funds.
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Retirement planning: The unlisted property fund option 

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Sydney's 420 George Street topped the list of major commercial investment transactions tracked by Savills in its Asia Pacific Investment Quarterly (Jan-March 2016) with a deal value of $442.5 million. 
Savills note the purchase of 420 George Street by Investa Property Group for $442.5 million in March 2016. With a reported initial yield of 5.30 percent, the transaction reflected one of the tightest yields for an A Grade asset purchased by a local post GFC.
The list comprises nine deals, with second position going to Adelaide's Rundle Place, 80 Grenfell Street at $400 million, followed by 1 Woolworths Way in NSW's Bella Vista for $336.5 million. Incidentally, all three are office spaces.
Interestingly, Melbourne's 1 Collins Street was at the bottom with a transaction value of $125 million.
<a href="/images/2016/07/18/Savills%20July%2020%20Chart.png" target="_blank"> Click to enlarge</a>
<img src="/images/2016/07/18/Savills%20July%2020%20Chart.png" alt="">
 
 
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Sydney CBD office deal tops investment transactions in Jan-March 16: Savills 

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The South Australia-based Hairdressers’ Co-operative Society Limited (Hair Co-op) has put its landmark Adelaide CBD property on the market after nearly seven decades.
The Hair Co-op bought the 237 Grote Street property in 1950 for £3,200 pounds, with the building’s official opening in March 1952 making headlines, according to a media release.
The property stands on a land area of 790 sqm and has a floor area of 757 sqm.
CBRE’s Will Brown, Ben Heritage and Harry Einarson have been appointed to sell the property through an expressions of interest campaign closing August 4.
“237 Grote Street is a CBD landmark and its sale unlocks an exciting opportunity to capitalise on its prime underlying real estate,” said Brown.
The sale decision comes in the wake of the group's decision to relocate its operations to a suburban location on the outskirts of the CBD.
The Hair Co-op was established in 1944 and is the only known Hair and Beauty Co-operative in the world. The Hair Co-op is a member-based organisation managed by a CEO and reporting to a board of member-directors.
Hair Co-op chief executive Victoria Lewis said the move marked a new direction for the group.
“At the centre of our plan is the creation of a larger, improved showroom and education centre to replace our city headquarters. The sale of Grote Street will enable us to strategically relocate, while also reinvesting capital back into the business,” she said.
The group has five wholesale outlets throughout Adelaide and services the needs of hair and beauty salons throughout South Australia and the Northern Territory.
The property is zoned Capital City allowing for development up to 53 metres subject to Council approval. It is expected to attract strong buyer interest.
The holding income from the property is $130,000 pa net.
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Hairdressers’ Co-op puts up Adelaide CBD asset on sale after six decades

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Technology firm Urbanise.com and Prudential Investment Company of Australia have signed a 10-year agreement worth $16 million to develop cloud-based solutions for managing its property portfolio of more than 200,000 lots.
The agreement also includes plans to set up a shared platform to provide outsourced IT services to the Australian strata industry, which incorporates more than two million lots nationwide. The platform will help strata management professionals to outsource back office work.
PICA Group, Australia’s largest strata management company, operates 15 well-known brands including Body Corporate Services (BCS), Mason and Brophy, NSW Strata, Dynamic Property Services, GK Strata, and Strata 3 across New South Wales, Victoria and Queensland.
Urbanise’s global head of Strata David Bugden said, “Urbanise is implementing the entire product suite for PICA – Strata, MyCommunity, CRM, service delivery, mobile workforce, e-services and facilities management."
The partnership will offer facilities management, repair and maintenance services to PICA’s more than 350,000 tenants. Property owners can benefit through self-service web portals and mobile apps. PICA Group is also piloting Urbanise’s remote asset monitoring sensor technology at a 5,000-lot community in Sydney.
Greg Nash, managing director and Group CEO, PICA said, “The platform’s scalability and technology roadmap aligns with our vision for the broader strata industry. Cloud-based solutions will become fundamental to professionalising strata service delivery in the future. PICA and Urbanise are at the forefront of driving this industry change.”
 
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PICA signs agreement with Urbanise to manage strata portfolio via cloud   

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A tourist caravan/cabin park in the Queensland outback town of Chincilla, Australia's melon capital, is being offered to the market.
The four-star Chinchilla Tourist Park - the town's only one - comprises 105 sites consisting of 70 cabins and 35 caravan sites.
Built and opened in April 2013, the park has received development approval for inclusion of a relocatable home park.
CBRE’s Andrew Jackson has been appointed to sell the freehold going concern.
“As the only caravan/cabin park in Chinchilla, this property offers an advantage in the local tourism market, in addition to an opportunity for a new owner to attract permanent residents at an extremely reasonable entry cost,” Jackson said.
Presented as 'new', the tourist park provides tax depreciation benefits and minimal capex requirements in the short to medium term, he added.
The Chinchilla Tourist Park is nearly 300 km from Brisbane and offers a range of accommodation and facilities. The park also includes a three-bedroom manager’s residence, in addition to a staff residence on a separate title.
Jackson said the park, which had a turnover of nearly $6 million in its first year, was now being offered to the market in line with the owner’s plans to sell upon its establishment.
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Tourist park in Queensland's Chinchilla listed for sale

Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

Joel Robinson

First look at MAYD's North Kirra mixed-use precinct

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Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

&nbsp;

[smartcode_project_cta:default project_id=152737]

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Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

A collection of just 25 large-format apartments and penthouses overlooking Goodwin Park is entering the Coolangatta market, with <a href="https://www.apartments.com.au/new-apartments/marea-residences-coolangatta-27-27a-dixon-street-coolangatta-qld-4225">Maréa Residences</a> combining a low-density, residential-only approach with uninterrupted park and Pacific Ocean outlooks.

Located at 27 Dixon Street, Maréa comprises three and four-bedroom residences alongside a limited number of dual-level penthouses, with the project positioned between Goodwin Park and <a href="https://www.apartments.com.au/developments/coolangatta-qld-4225">Coolangatta</a>’s coastal precinct.

Construction has commenced, with completion currently estimated for late 2027. Three-bedroom residences are priced from $1.8 million.

[smartcode_project:default project_id=150999 project_image_fid=374005]

The project has been designed around its northern outlook across the park, with the building’s architecture, landscaping and material palette intended to establish a connection with the neighbouring green space. The residences have been configured to maximise natural light and views across Goodwin Park towards the ocean.

Inside, the material palette incorporates timber, stone and brushed brass, complemented by curved detailing and ambient lighting. Kitchens and bathrooms carry the same natural material approach, while residences also include basement parking, storage and lift access.

Maréa’s penthouses are arranged over two levels and include private pools, adding another layer to the project’s focus on larger-format apartment living. Across the development, residences are configured with three or four bedrooms rather than the broader mix of smaller apartment types commonly found in larger projects.

[smartcode_project:default project_id=150999 project_image_fid=374010]

Resident amenity is concentrated at rooftop level, where landscaped entertaining terraces and pools take advantage of elevated views across Coolangatta and the Pacific Ocean.

The project has so far been particularly well received by local owner-occupiers and downsizers, according to Urban Activation Property Sales and Marketing Director Matt George, with the residential-only format, construction quality and northern park outlook among the features resonating with purchasers.

“The uninterrupted northern aspect overlooking Goodwin Park has been a key point of difference, with buyers attracted to the sense of serenity and open space the park provides, while still enjoying easy access to the ocean and being within walking distance of the lifestyle and amenities Coolangatta has to offer,” George said.

[smartcode_project:default project_id=150999 project_image_fid=374002]

“The combination of high-quality construction, a residential-only building, park outlook and proximity to the beach has resonated strongly with the local downsizer market.”

The Dixon Street address is within walking distance of Coolangatta Beach and the broader southern Gold Coast coastline, including the surf breaks at Snapper Rocks and Kirra. Coolangatta’s cafés, restaurants and retail are nearby, while Gold Coast Airport is also within close proximity.

[smartcode_project_cta:default project_id=150999]

Maréa Residences brings parkside apartments to Coolangatta

Melbourne developer PDG has secured Victorian Government approval for its $1.5 billion Southbank development <a href="https://www.apartments.com.au/new-apartments/the-one-1-queens-bridge-street-southbank-vic-3006">The One</a>, clearing the way for the long-dormant riverfront site opposite Crown to finally be developed.

The Minister for Planning has approved the project at 1-29 Queens Bridge Street, with the Department of Transport and Planning issuing the planning permit following its assessment.

The approval will allow PDG to develop the prominent 5,059 sqm site with a major mixed-use tower comprising premium apartments, including branded residences, a luxury hotel and boutique office space.

PDG acquired the site in late 2024, with its position directly opposite Crown's main entrance and near Melbourne's Arts Precinct making it one of Southbank's most significant remaining development opportunities.

<img alt="PDG" data-entity-type="file" data-entity-uuid="3933013e-6332-4386-b9be-089df05caf17" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.22%E2%80%AFAM.png?VersionId=sITIgBqDL0N3VNSMwWEmF5UA.uvcsRyu" />

Designed by COX in collaboration with ODO and PDG, the tower's architecture draws on the movement of the Yarra River, with six vertical pleats running the height of the sculpted facade.

The project will also see the heritage-listed Queens Bridge Hotel restored and incorporated into the development&nbsp;with new hospitality and public uses, including a rooftop venue.

A significant component of The One will be its residential amenity.

More than 5,000 sqm of resident facilities will be delivered across a single level, making it one of the largest consolidated residential amenity offerings proposed in an Australian apartment development.

The planning approval also incorporates a major upgrade of Queensbridge Square, which PDG will deliver in partnership with the City of Melbourne.

<img alt="PDG" data-entity-type="file" data-entity-uuid="73167fcd-1031-4b6f-a408-a064cfe45ed1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.17%E2%80%AFAM.png?VersionId=Pf1AEWxw6SNmBqR0zQW5lyEze.MtxgFp" />

The existing square will be revitalised as a new civic and pedestrian space along the Yarra River, strengthening the connection between the project, Southbank and the riverfront.

PDG Founder and Managing Director Vince Giuliano said the approval represented a major milestone for a site which has remained largely underutilised for more than 15 years.

“This is the most significant Planning Permit approval Melbourne has seen in recent years,” Giuliano said.

“For more than 15 years, this site has remained underutilised. This approval enables us to deliver a project that will contribute meaningfully to the revitalisation of Southbank, restore and reactivate an important heritage building, and create a new civic and hospitality destination for Melbourne.”

The latest approval follows an earlier planning permit issued by the City of Melbourne covering demolition works across part of the site at 9-29 Queens Bridge Street. Those demolition and early works are already underway.

PDG has also started generating early interest in the residential component from owner-occupiers ahead of a planned public launch in early 2027.

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

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

Prateek Chatterjee

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