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Commercial property sales in Perth remained stable in the past three months, according to the latest Cityscope from CoreLogic RP Data.
The last three months to the beginning of June 2016 recorded 19 sales for a total of more than $240.4 million; with $228.5 million for commercial, $5.5 million for commercial strata, $1.5 million for retail strata and $5 million for other. In comparison, the three months to the beginning of March 2016 recorded 22 sales for a total of more than $653.5 million; with $600.2 million for commercial, $5.9 million for commercial strata, $19.5 million for retail, $900,000 for retail strata and $27 million for other.
The 12 months leading up to the beginning of June 2016 recorded 80 sales for a total of over $1.83 billion, up by more than $1.4 billion than the recorded figure for the same time period the year before.
The table below shows sales recorded for the past eight updates of Perth Cityscope:
<a href="/images/2016/06/17/Screen%20Shot%202016-06-17%20at%2012.03.45%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/06/17/Screen%20Shot%202016-06-17%20at%2012.03.45%20PM.png" alt="">
The top three most significant sales recorded this quarter together totalled over $206.1 million.
<ul>
<li>The Exchange Tower, 2 The Esplanade, Perth. Built in 1992 at a cost of about $270m; 34-storeys, comprised of 33 levels of office space, ground floor retail space and 5 levels of parking. Private Property Syndicate sold its 50% interest for around $113.5 million to Primewest Funds Ltd. Josh Cullen of CBRE, together with Rob Sewell and Simon Storry of JLL negotiated the sale.</li>
<li>St Georges Centre, 81 St Georges Terrace, Perth. A 15 storey office building developed by AFT in 1987. In March 2016 the property went under contract for around $84 million to ARA Asset Management Limited, on behalf of a real estate fund. John Williams and Nigel Freshwater of JLL negotiated the sale which represented an initial yield of 7.25% on passing income of approximately $6.09 million.</li>
<li>482-484 Murray Street, Perth and a right-of-way. A two storey warehouse known as the Sara &amp; Cook Building, built circa 1930, with a 128 sqm right-of-way leading to Wellington Street. Bought for $8.65 million by Goldvista (Perth) Pty Ltd.</li>
</ul>
<a href="/images/2016/06/17/Screen%20Shot%202016-06-17%20at%2012.06.10%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/06/17/Screen%20Shot%202016-06-17%20at%2012.06.10%20PM.png" alt="">
Properties listed for sale include:
<ul>
<li>32 Ord Street and 34 Ord Street – a single level house and a two-level office building. For sale with vacant possession and an asking price of $5,100,000; agent, Burgess Rawson (Rob Selid and Brian Neo).</li>
<li>1/33 Barrack Street, Perth – a 45 sqm retail unit on the ground floor plus 10 sqm in the basement. For sale by offers to purchase; agent, CNI Commercial Property Group (Colin Pang and David Walser).</li>
<li> Lot 38/171 St Georges Terrace, Perth – a 189 sqm unit with 76 sqm of retail space on the ground floor retail space and 113 sqm of office space on the upper level, plus a 5 sqm balcony. For sale with an asking price of $1.269 million; agent, Ray White Commercial WA (Stephen Harrison).</li>
</ul>
Cityscope covers 28 predominantly capital city CBD markets across Australia and New Zealand, providing a rich level of property level data including building attributes, tenancy detail, sales and ownership.
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prateek24-ezbwHMbNAk

Perth commercial market sales stable in last 3 months: Cityscope

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A property in Canberra fully leased to the world famous fitness chain Gold's Gym has recently sold for $4,050,000 through Burgess Rawson.
The 81 Gozzard Street, Gungahlin, ACT 2912 property was recently built in 2013 and has an area of 1,079 square metre.
The tenant is on a 10-year lease to March 2023 with further options to 2033.
The net income from the property is $314,404 pa + GST and there is a an annual 3.5 percent rental increase. The tenant pays all outgoings, as per lease.
Gungahlin is a suburb in Canberra with a projected population growth of more than 20% to over 70,000 by 2021.
The property is located within the busy town centre and surrounded by new construction of housing, Bunnings and cinema project.
The selling agent was Dean Venturato.
 
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Gold's Gym in Canberra sells for more than $4 million through Burgess Rawson

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An award-winning penthouse office in one of Melbourne’s top retail hubs is about to hit the market with price expectations of more than $6.5 million.
The <a href="https://www.realcommercial.com.au/property-offices-vic-south+yarra-501998198" target="_blank">529 Chapel Street office in South Yarra</a> has an area of 675 sqm and is on two levels. 
It has won several awards, including one of New York’s most prestigious design awards in 2015, taking out Interior Design Magazine’s Best Interior Design Award. It was also named a finalist in the Workplace Design and Workplace Less Than 1,000 sqm categories at the 2015 Interior Design Excellence Awards in Australia. 
It is being sold through Colliers International’s Daniel Wolman, Oliver Hay, Ben Baines and Chris Ling on behalf of local developer Bill McNee. 
“This is a truly unique offering – there is no other office in Melbourne that compares to this one,” Wolman said. 
The office is expected to attract strong competition from office users, hospitality operators and luxury residential buyers.
“On offer is the world’s best office in the heart of one of Melbourne’s trendiest and most sought after suburbs,” added Wolman.
The office has communal and private workspaces, innovative entrances, steam rooms and luxury finishes with multiple rooftop terraces. Luxury features include a Sonos sound system throughout, automated bi-fold doors, a teppanyaki grill and beer taps on the external terrace. 
“The building would be well suited to a family office or small-to-medium business looking to take advantage of the immediate access to extensive surrounding amenity,” said Hay.
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Trophy penthouse office in Melbourne's Chapel Street up for grabs 

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A brand new 7-Eleven service station in Byford in Perth’s south eastern residential corridor is on the market.
The site at 76 Abernethy Road benefits from a strong tenancy profile, with a 15-year lease to national retailer, 7-Eleven Stores Pty Ltd, plus options until 2056. 
The property earns a net annual income of about $310,000. 
The sale is being handled by CBRE’s Ben Younger and Kate Foley on behalf of Emmett Property via an offers to purchase campaign closing July 1.  
Foley said the property’s location in the high-growth area of Byford would be a major selling draw card.
“The property is positioned to benefit from ongoing growth in the Byford area, supported by the new Byford Village Shopping Centre, which is due for completion in 2017,” Foley said. 
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New 7-Eleven service station in Perth’s Byford up for sale 

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Melbourne’s office market is seeing much activity from offshore buyers, according to recent sale deals by Colliers International.
To illustrate the point, a 450 sqm freestanding office and retail building at 318 King Street was bought by a private investor from China for circa $5 million within two weeks of its listing. 
The deal was brokered by Colliers International’s team of Oliver Hay, Daniel Wolman and David Sia. 
The property is a two-level building on a 231 sqm site with King Street frontage and rear access via Eagle Alley. 
Hay said the buyer intends to lease out the property in the short term before occupying it. The same buyer earlier bought a development site in the nearby area.
Another recent sale was that of Level 2, 21 Victoria Street for $1.395 million to an offshore developer looking to establish themselves in the Melbourne CBD.
“A big theme in this sector of the market at the moment is that these purchasers are not just buying development sites, they’re buying offices as well, as they are keen to set up a physical presence,” said Hay.
“Of five strata office floors sold by our team in the last two weeks in the Melbourne CBD, half have been sold to offshore groups looking to establish a physical presence for themselves in Melbourne.
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Offshore buyers setting up presence in Melbourne's office market

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A motel in the Canberra suburb of Ainslie has exchanged hands in an off-market deal through CBRE Hotels.
The Best Western Tall Trees Motel at 21 Stephen Street was bought by Elanor Funds Management for $14,200,000 from Tall Trees Motel Pty Limited. 
The 79-room motel includes a bistro restaurant, manager's apartment and 71 onsite car parking spaces. It is owner operated, under management – with a franchise agreement in place with Best Western. The property has a site area of 5,797 sqm.
The passing yield was 8.2 percent.
Canberra posted strong growth across all major hotel indicators for the year to March 2016, indicating that the market has managed to cope with the increases in supply, according to CBRE. With no new supply scheduled to come online until mid-2017, Canberra should experience further increases in occupancy leading to rising hotel performance, according to the media release.
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Canberra motel exchanges hands for $14.2 million

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A securely leased property in the business hub of Western Australia’s Kalgoorlie-Boulder is up for sale through private treaty. 
The 29 Boulder Road property is occupied by automotive parts specialist Covs Parts – a wholly owned subsidiary of ASX-listed GPC Asia Pacific Pty Ltd. 
The 3,019 sqm site includes a 1,630 sqm showroom/office building accommodating Covs Parts’ automotive showroom. 
The property is currently leased on a five year term, expiring in 2021. 
The listing agents are CBRE’s Richard Cash and Matthew Elliott.
“Located in close proximity to Hannan Street – Kalgoorlie-Boulder’s main thoroughfare – this property also offers development potential that will attract developer interest,” said Cash. 
Kalgoorlie-Boulder is Australia's largest Outback City with a population of more than 30,000 people.
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Investment property on market in regional WA

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ASX-listed Lantern Hotel Group is set to test Queensland’s regional market, with plans to sell the Central Hotel in Bundaberg as part of its divestment strategy.
The property would be sold via an expressions of interest campaign closing July 14. 
The hotel is on a 1,017 sqm landholding in Bundaberg CBD, and operated under a 3 am liquor licence. The hotel also includes 14 Gaming Machine Authorities.
The move to sell the Central Hotel in Bundaberg was in line with the firm’s strategy to divest non-core assets and focus on its NSW portfolio, said Lantern’s chief executive John Osborne. 
“The Central Hotel has been a passive investment for Lantern and is subsequently superfluous to our current business model,” Osborne said. 
The Central Hotel is being offered as a going concern, including both the business and property components. 
The listing follows a flurry of deal activity by Lantern, with the group recently placing the Cairns Courthouse Hotel on the market, apart from three successful hotel deals over the past nine months. 
CBRE Hotels’ Daniel Dragicevich, Glenn Price and Paul Fraser have been appointed to sell the property.
 
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Lantern to divest from Queensland’s Central Hotel, Bundaberg 

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A small shop in Gold Coast’s Broadbeach is up for lease and would ideally suit a fast food eatery.
The property at 6/2723 Gold Coast Highway is being marketed by Raine &amp; Horne’s David Task.
Spread over 44 sqm, the property has a partial fit-out and includes a cold room and exhaust canopy. It is available from August 1.
Fronting Gold Coast Highway, the property has great exposure. It is also opposite the Convention Centre and Light Rail station
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Fast food outlet in Gold Coast's Broadbeach up for lease through Raine & Horne

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Melbourne’s industrial and logistics market emerged as one of Australia’s most attractive asset classes, as reflected from the 50 basis point tightening in industrial yields in the last 12 months, says new research. 
Commercial real estate firm CBRE’s 2016 Q1 Industrial MarketView revealed a steady flow of offshore interest in the Victorian capital in 2015, with expectations for the momentum to continue in the year ahead.
After a strong last quarter, which saw $765.7 million in industrial property change hands, sales in the first three months of 2016 fell significantly, with only $87.2 million transacting over the period, albeit considerably more currently in due diligence. 
<a href="/images/2016/06/21/Screen%20Shot%202016-06-21%20at%2012.00.33%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/06/21/Screen%20Shot%202016-06-21%20at%2012.00.33%20PM.png" alt=""> 
CBRE regional director, Industrial &amp; Logistics, Chris O’Brien said this was due to a shift in investment sentiment in 2016, with buyers moving up the risk curve to seek more attractive returns. 
“2015 saw a significant flow of new offshore entrants to the market, looking to inject capital into low risk assets, such as real estate,” O’Brien said.  
“However, the first quarter of 2016 has seen a change in sentiment, whereby investors are seeking opportunities higher up the risk curve - reflecting higher yields through property fundamentals, leasing risk and value add opportunities, which bodes well for domestic players”.
Notwithstanding banks’ tightening lending criteria, a low Australian dollar and favourable cash rate, Melbourne’s industrial &amp; logistics sector will remain a sought after market on a global scale, with the higher comparative yields on offer strengthening its appeal, according to the report. 
Following a six-year high for industrial supply in Melbourne during Q4, a smaller pipeline is expected in 2016 to reduce the risk of oversupply. 
Across Victoria, nearly 125,000 sqm was forecast for completion during the first quarter of 2016, with the western and south eastern precincts seeing the largest volumes of supply. 
The lower supply pipeline (55 percent lower than 2015) is also expected to encourage rent growth in the medium to long term. 
Major developments completed in Q1 include a 25,650sqm warehouse facility for Kathmandu in Truganina and a 25,000sqm warehouse in Merrifield.
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Melbourne's industrial market to remain in investor spotlight after strong 2015: CBRE 

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.

&nbsp;

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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