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Mortgage brokerage N1 Loans is all set to launch a own real estate arm as part of its efforts to become a “one-stop-shop” financial services company.
N1 Realty will officially start trading from July 1 in Sydney.
The group is negotiating a lease for a location in Chatswood in Sydney’s North Shore, Australian Broker reported.
The article cited N1 Loans CEO Ren Wong as saying demand from its customers for investment properties drove the decision to move into the real estate business. 
“We have over 2,000 clients in our Salesforce CRM, and given our strong pre-approvals pipeline, it's time for us to diversify,” Wong said. 
The realty arm would be headed by an industry veteran, is all Wong would say.
“We look forward to developing N1 further as a full service financial services company, making investment easier for our growing customer base,” Wong said.
The group, which started trading on the ASX earlier this year, claims it launched Australia’s first Chinese language mortgage comparison website in April 2015, a DIY property renting app connecting landlords with potential tenants in December 2015, and an English language online mortgage calculator and comparison website this month.
Earlier this week, N1 entered into a deal with insurance provider Ensurance to supply white label insurance products to its home loan clients.
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Brokerage N1 Loans diversifies into real estate business

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As if the negative gearing debate wasn't enough before the election, on July 1, there is another shocker waiting for real estate agents and property owners around Australia trying to transact in property exceeding $2 million.
According to a new ATO rule that comes into effect July 1, all Australian sellers of $2 million-plus properties will be classified as overseas investors unless they get a special tax clearance. That means that all buyers of $2 million-plus properties must deduct 10 per cent from the purchase price and pay that amount to the Australian Taxation Office (ATO) unless the seller can furnish a tax clearance, according to a recent report in The Australian. 
While the move will affect everyone, including Australians, Chinese investors will be impacted more, especially when taken together with steps taken to squeeze Chinese buying in residential property. 
Chinese and Asian buying of Sydney apartments has already fallen 50 per cent in recent weeks and the trend is spreading to other markets, particularly Melbourne. 
The current measure can be traced back to the days when former treasurer Joe Hockey caved into pressures to curb Chinese investment in Australian residential property in 2015. In the process, the treasurer was convinced by the Australian Taxation Office to widen the net to cover local residents, says the report in The Australian.
According to an ATO fact sheet, in May 2013, the government announced that it would introduce a 10% non-final withholding tax on payments made to foreign residents who dispose of certain taxable Australian property with a market value above a specified threshold. The new legislation for this measure became law in February 2016.
The $2 million rule applies to vacant land, buildings, residential and commercial property, leaseholds and strata title schemes.
The ATO website says, "The government is strengthening our foreign resident capital gains tax (CGT) regime to assist in the collection of foreign residents' liabilities."
The definition of property is very wide and includes leaseholds but does not include stock exchange investments. A purchaser who does not receive a “clearance certificate” from the vendor and does not send 10 per cent of the purchase price off to the ATO will still be liable to pay that 10 per cent to the ATO plus, almost certainly, will have to pay severe additional penalties and interest. The economics of buying the property will be severely damaged, says the media report.
It suggests that real estate agents selling $2 million plus properties should study how this new tax regime would impact their business.
For example, banks and other financiers may be affected where their secured debt exceeds 90 per cent of the value of the selling price. In a situation where the owner is being forced to sell, the banks will be better to take possession and sell themselves rather than being caught in the “tax clearance” delays.
In the majority of cases, local resident vendors will have no problem obtaining a clearance certificate, but it might increase the risk of a tax audit for property sellers who:
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<li>Have not filed tax returns for many years;</li>
<li>Have filed tax returns, which would indicate they could not afford such a property;</li>
<li>Are selling their residential house at the same time as their neighbours to a single developer, which may give rise to a profit making scheme (such that the principal residence capital gains tax exemption may not apply to the value uplift generated by selling the properties together); or</li>
<li>Where the ATO has gathered information that indicates the vendor is in the business of developing property, which means that the principal residence capital gains tax exemption may not apply.</li>
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The post by Robert Gottliebsen says this might lead to a rush to sell before July 1 and might create some property bargains for buyers.
Another implication is that as property prices rise, more vendors will fall into the $2 million plus category. Over time, the ATO may shift their audit target identification processes to $2 million-plus property vendors and away from other areas.
Additionally, if the vendor has a tax debt, the application for a “clearance certificate” may in some circumstances involve the ATO seeking to recover some or all of that tax debt from the purchaser by way of a garnishee notice. 
While the report argues that the ATO's new rule will only help recover tax legitimately owed, the danger is in the complexity. 
The legislation is yet another blow for Asian investors in Australian property. Banks have already imposed a credit squeeze on Chinese property buyers.
On July 1, the Victorian state government is set to raise the levy on foreign purchases of apartments from 3 percent to 7 percent 
For a Chinese investor, getting a tax clearance would be tough, or else they would have to give off 10 percent off the transaction price.
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New ATO rule on property deals over $2 million will hurt Chinese buyers even more

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A decrepit, but heritage-listed house in Melbourne's Richmond is up for sale for the third time in four years.
The site at <a href="https://www.domain.com.au/richmond-vic-3121-2012767622" target="_blank">336 Burnley Street</a> has stood decaying for years despite being approved for development into townhouses in 2012, said a post in domain.com.au.
The 777 square metre site was bought by Dario Rosella and his family for $1,621,000 in 2012, with plans for townhouses.
But the townhouses never took off and the property exchanged hands again in 2014 for $2,544,000 to five Melbourne-based developers, through Biggin &amp; Scott.
The developers said they would proceed with plans to build three three-bedroom townhouses and one four-bedroom townhouse. 
The property has planning permission for the construction of four townhouses, one of which will have to incorporate the rundown heritage listed cottage, which is 135 years old.
But, again, the homes were never built and the rotting home is back on the market, this time for $3 million. 
Simon Lee of Haim Real Estate is the listing agent.
The ad for the house on domain.com.au says the endorsed plan permit included:
Unit 1 - Three-storey with 3 bedrooms + study, 3 bathrooms, double garage
Unit 2 - Three-storey with 3 bedrooms, 3 bathrooms, double garage
Unit 3 - Double-storey with 3 bedrooms, 2 bathrooms, single garage
Unit 4 - Double-storey with 3 bedrooms + study, 3 bathrooms, single garage plus own driveway to the exit at the rear. 
Alternatively, the vendor has proposed a five townhouses plan subject to council approval. 
He says the vendors had planned on building the townhouses but decided to move onto a bigger, $10 million project instead.
The vendors approached the council about the removal of heritage from the weatherboard and build five townhouses instead, but their plans were shot down, adds Lee.
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Rotting heritage-listed house site in Melbourne's Richmond back on market

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The North Coast regional township of Lismore in NSW has drawn the attention of valuation firm Herron Todd White in their April 2016 property clock that talks of fringe suburbs and affordability.
Given the relatively small size of the regional centre (Lismore City), there is not a discernible fringe suburb element.
However, in regard to affordability, the older suburbs of North and South Lismore on the (curiously) western side of the river fit the bill. These particular suburbs are well known in recent history as being flood prone and have been subject to some intense debate following the construction of the levee designed to protect the Lismore CBD from nuisance floods i.e. below a one in ten year flood event. Cold comfort if a bigger flood signals its arrival... and North and South Lismore usually cop it.
The price levels and rental levels are therefore traditionally lower than the other suburbs of Girards Hill, East Lismore, Lismore Central, Lismore Heights and Goonellabah.
However, North and South Lismore are not bereft of services with local schooling nearby, a small retail strip with food outlets, bakeries and a pharmacy and its fair share of liquid refreshment from the various taverns and hotels located in this area.
A typical North or South Lismore home is generally well elevated (to escape those nasty flood waters) which in turn provides ample car-parking space and storage underneath. As a result of the estimated height of 12.4 to 12.6 metres, according to the Australian Height Datum for a so-called one in one hundred year flood event, any new residential development requires a minimum habitable floor height 500 millimetres above this level. The main habitable floor would therefore be expected to be a neck craning 2.5 to three metres above ground level.
This applies to new development. However, most of the houses in North and South Lismore were built circa 1920 to 1940 when such fastidious building regulations were not in place.
Therein lies the sting in the tail. Generally most houses with a habitable floor level below the estimated one in one hundred year flood event level could experience a lot of difficulty in securing lender finance, unless the intending owner or purchaser can provide a much higher equity injection i.e. below the standard 80% LVR. Then there is the tricky issue of insurance premiums which have soared in recent years for flood insurance.
These aspects have an impact on the overall price level for properties in North and South Lismore, but not as much as you would expect.
There was a time when purchasing a property in these areas would have a figure south of $150,000. Today, well presented and renovated homes with a floor level above the one in one hundred year flood event can attract sale prices greater than $300,000 with rental levels of $300 per week plus for 3- to 4- bedroom and 2-bathroom homes.
Generally, the median price level ranges from $230,000 to $250,000 with typical rents in the region of $250 to $280 per week for a three-bedroom, one-bathroom home.
Property Observer looked up some recent sales of houses around the median price figure in and around North and South Lismore and came up with these examples from www.realestate.com.au:
<img src="/images/2016/05/18/Screen%20Shot%202016-05-19%20at%2010.05.44%20AM.png" alt="" width="743" height="529">
1. A five-bedroom above flood-level house at <a href="https://www.realestate.com.au/property-house-nsw-north+lismore-121005566" target="_blank">17 Wotherspoon Street North Lismore</a> sold recently for $234,000.
<img src="/images/2016/05/18/main.jpg" alt="" width="673" height="505">
2. A three-bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-south+lismore-121197650">39 Caniaba Street South Lismore NSW 2480</a> traded for $268,000, according to RP Data.
Just as the other suburbs in Lismore City have improved over the past 12 years, so to have the northern and southern Lismore regions.
Currently, the North and South Lismore residential markets are relatively stable with no records being broken or set, just like the other suburbs in Lismore City.
However, beware the precipitous beast known as the Northern Rivers flood rains and often the faded memories of 1954 and 1974 will come rushing to the fore. Nary has a Lismorean forgotten those times of flood and debris. A bout of that may put a dent in the value of homes on the North and South Lismore lowlands. Let’s hope not. 
 
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NSW's Lismore is flood prone, but high floor level homes fetch good prices: HTW

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Two shops in Sydney's prime eastern suburbs went under the hammer at Burgess Rawson's 103 portfolio auction recently.
Both shops 1&amp;2 and 3 at 50 Bayswater Road, Rushcutters Bay are single-tenant investments and on five-year lease terms.
Burgess Rawson is marketing the shops as good entry-level investments.
Net income from shops 1&amp;2 is $68,144 pa + GST, while Shop 3 earns $29,000 pa + GST.
Both investments come with annual CPI increases.
The location is in the midst of one of the most densely populated areas in Australia and is near to Sydney Harbour, parks, nightlife and transport.
Both properties are to be sold separately.
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Rushcutters Bay retail property listed 

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Retail group SPAR Australia will open its second store in South Sydney in the inner city suburb of Waterloo as it looks to expand its footprint in the area.
SPAR is looking to capitalise on the growing South Sydney Market, with a 302 sqm grocery store in Divercity Village at 850 Bourke Street. Its first store South Sydney store is in Redfern.
According to Colliers International's Joshua Bush, who leased the space to SPAR, there are over 20,000 people living in Waterloo, with population growth showing no signs of slowing down.
Divercity Village has an array of shops and food places, including Misura Interiors, LJ Hooker, Bumble Bee Drycleaners Pet Wonderland, La Coeur Day Spa and Zoo Family, and a Malaysian restaurant. 
“Divercity Village was created to service the direct needs of the locals and provide amenity to the currently under supplied greater Waterloo precinct. The medium age group is 32, typically university educated with a predominance of double income couples looking for convenience," he said.
There are also more than 1,000 apartments in the delivery pipeline in the immediate Divercity precinct.
Bush said SPAR's Waterloo store would offer local customers a one-stop shop. 
The store boasts an upmarket European fit out, for which the brand is famous across the world.
Nearly 11 million shoppers pass through the doors of SPAR stores in the world each day. SPAR Australia had more than 140 stores in 2015, up from 25 in 2006. 
Bush did not disclose details of the lease, but rents are seen to be growing in the area, with many new retailers paying more than $850 per square metre.
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SPAR Australia moves into Sydney’s Waterloo

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A commercial property in NSW's Moss Vale anchored by IGA and Australia Post sold under the hammer for more than $9 million at Burgess Rawson auction.
The <a href="https://www.burgessrawson.com.au/buying/NSW/Southern-Highlands/Moss-Vale/Retail/2P1181#.Vzu_XSN97-Y" target="_blank">11-13 Clarence Street</a> building in the town centre is on a long and secure 15-year lease to IGA (Metcash) extending to 2023 with a further 15-year option.
The rest is securely leased to Australia Post extending to June 2021 with a five-year option.
The combined net income from the property is $670,596 pa + GST (as at 23/07/16) with around 90 percent coming from IGA (Metcash). 
A majority of outgoings recoverable from IGA, as per the lease and there is a guaranteed 3 percent fixed annual increases from IGA.
The auction amount of $9.03 was reported by the Australian Financial Review.
Moss Vale is a town in the Southern Highlands, an hour from Sydney's outer suburbs.
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 Australia Post leased building sells for $9 million 

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Oversupply of apartments and strong buying by foreign investors could pose a risk to banks, according to international credit rating agency Fitch.
Speaking at the rating agency's conference in Sydney, analyst Andrea Jaehne said settlement risks were rising as she tried to predict the impact of oversupply of new properties on the banks, and the broader economy, the Australian Financial Review reported.
"What is going to be the impact on the economy, housing affordability, especially if we consider the percentage of the labour force employed in construction? The problem is here, not somewhere in Western Australia, and the impact on employment could be much bigger than we think."  
The concern was echoed earlier by senior Fitch manager Ben McCarthy while presenting mortgage arrears data that speculated the construction sector could become a bigger risk than mining given how many people it employed, and how much of that income serviced home loans. About eight per cent of the labour force is employed in construction compared with two per cent in mining.
On the demand for apartments, Jaehne said she was "a bit shocked" to see a steep increase over five years in approvals to foreigners, the AFR report said.
"Developers only need one approval [for off the plan apartments]. They have to market the property in the local market but often they are selling it off in Singapore, Hong Kong and Shanghai."
She said the agency didn't "have the full picture" as to who was buying these properties.
"People who buy a property off the plan don't need an approval. We compared that to what is coming on to the market and we estimate it's 25 per cent being invested by foreigners," she said.
"Also, how will offshore investors react? Will they be happy to accept no capital gains and no rental income? Are they going to sell and what does it mean if 25 per cent of the new build owners sell and what is the impact on their balance sheets?"
Fitch's concerns come as more lenders pull financing from foreign borrowers, leading to concerns that their actions may have an adverse impact on the property market. 
Jaehne presented a chart which showed that about 80,000 housing units would be completed within 12 months in Sydney, Melbourne and Brisbane, about the same number that sold last year. But an additional 125,000 units would be completed within two years.
She said an oversupply of apartments, should it eventuate, would impact the asset quality of the banks. 
The rise in house prices was a concern, she said, given it had not been matched with rising incomes. 
"House prices have gone up – but total income growth hasn't really kept up at the same pace and when you combine this with a low interest rate environment you get an increase in household leverage. That has reached levels that are significantly higher than before."
The agency, however, affirmed the AA minus ratings of the banks and pointed to mitigating factors. Australia is regarded as a strong sovereign, the central bank has full control of its monetary settings, the prudential regulator is seen as strong while the exposures of the banks are manageable.
"What gives us some comfort is that if you look at the exposure for commercial real estate - for the portion of total exposures, one of the banks with the largest exposure has 8 per cent. That is fairly small in an international context."  
The fall in interest rates and rise in house prices had also resulted in an "equity buffer" that can be chewed through, before the banks would experience losses, she said. The simplicity of the banks' business models and the sustainable nature of their profits from low risk lending also made them durable to any adverse impacts.  
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Property oversupply can pose a risk to banks: Fitch 

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An outcry in Australia against property buying by Chinese investors and tightening of lending by banks has caused them to shift focus to the US residential market, says a recent media report. 
Purchases of residential properties in the US by Chinese investors rose to US$28.6 billion last year from US$11.2 billion in 2010, said a report in The Australian based on figures from the study by the Asia Society and Rosen Consulting Group.
The report looked at how Chinese buying in Sydney and Melbourne had sparked a “public outcry” because of concerns about “speculative real ­estate investment ... that is contributing to bubble like conditions of inflated home prices and pricing out many local residents”.
The shift to the US has also been fuelled by Australian banks tightening lending criteria to Chinese. 
The report said China’s investment in overseas property would slow.
“We believe China’s economic turbulence will create a short-term speed bump for real estate investment overseas,” it stated.
The study also predicted a ­period of increased capital controls, either formally through policy announcements or informally through administrative processing — until the Chinese currency was realigned.
It said those concerns would not spill over into the local real estate market, with key executives arguing that any restrictions would likely lead to a regulation of capital inflows into Australia, and not dry up.
Cushman and Wakefield's head of capital markets for Australia and New Zealand, James Quigley, however had a contrarian view, saying a new wave of Chinese investors would be undeterred by such measures.
Quigley cited moves by large Chinese institutions, including ­insu­rance and asset man­age­ment companies, as well as high-profile developers who dominated initial investing. Their activities would be supported by lesser known, small to mid-cap companies and developers, private equity funds and wealthy individuals, he said
He also noted the number of investment approvals granted over the past three years to Chinese groups had jumped by 416 percent.
“This is a good indication that the Australian government is quite supportive of Chinese capital entering and making investments in Australia,” he said.
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Chinese look to US real estate after bank loan impositions in Australia 

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Melbourne-based developer and fund manager OpenCorp has launched a new fund to invest in a development in the Melbourne suburb of Hawthorn East.
Australian investors have the opportunity to invest in OpenCorp’s 70-apartment boutique development on Toorak Road, worth an estimated $40 million.
The $6.5 million site was acquired through a competitive tender process in December 2015. The development falls within the tightly held area of Boroondara, one of Melbourne’s most highly sought after council areas.
The Hawthorn East fund is the second project to be offered to investors under OpenCorp’s ‘Open Access Fund’, which allows investors to hold their money in the fund, generating a low-risk return, before they allocate it into new projects as opportunities arise.
OpenCorp director Matthew Lewison said the project is forecast to achieve about 50 per cent return on equity over the next 2.5 years.
“The Hawthorn East development sits within an area with extremely high demand. Projects nearby have sold out, and we expect this boutique development to attract a huge amount of interest,” Lewison says.
The first fund to be released through the Open Access Fund, the Albion Fund, was fully subscribed, raising $6.5 million in three weeks.
Since its launch on March 18, the Open Access Fund raised $10.5 million in equity in under six weeks from individual and SMSF investors.
OpenCorp has engaged architects ROTHELOWMAN to design the development, which will be marketed towards the downsizer and owner-occupier.
The development will include a ‘flexi option’ where buyers can combine two one-bedroom apartments to create a 103 sqm, three-bedroom option, with upper levels likely to have city views.
With a median house price of $2.3 million, Hawthorn East is currently Victoria’s third most expensive suburb and has long been a sought after area for Melbourne buyers.
OpenCorp currently has a project development pipeline of more than $500 million in apartments and townhouses around Australia.
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OpenCorp launches new development fund for project in Melbourne's Hawthorn East

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.

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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.

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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.

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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.

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Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

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Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

A collection of just 25 large-format apartments and penthouses overlooking Goodwin Park is entering the Coolangatta market, with <a href="https://www.apartments.com.au/new-apartments/marea-residences-coolangatta-27-27a-dixon-street-coolangatta-qld-4225">Maréa Residences</a> combining a low-density, residential-only approach with uninterrupted park and Pacific Ocean outlooks.

Located at 27 Dixon Street, Maréa comprises three and four-bedroom residences alongside a limited number of dual-level penthouses, with the project positioned between Goodwin Park and <a href="https://www.apartments.com.au/developments/coolangatta-qld-4225">Coolangatta</a>’s coastal precinct.

Construction has commenced, with completion currently estimated for late 2027. Three-bedroom residences are priced from $1.8 million.

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The project has been designed around its northern outlook across the park, with the building’s architecture, landscaping and material palette intended to establish a connection with the neighbouring green space. The residences have been configured to maximise natural light and views across Goodwin Park towards the ocean.

Inside, the material palette incorporates timber, stone and brushed brass, complemented by curved detailing and ambient lighting. Kitchens and bathrooms carry the same natural material approach, while residences also include basement parking, storage and lift access.

Maréa’s penthouses are arranged over two levels and include private pools, adding another layer to the project’s focus on larger-format apartment living. Across the development, residences are configured with three or four bedrooms rather than the broader mix of smaller apartment types commonly found in larger projects.

[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.

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Maréa Residences brings parkside apartments to Coolangatta

Melbourne developer PDG has secured Victorian Government approval for its $1.5 billion Southbank development <a href="https://www.apartments.com.au/new-apartments/the-one-1-queens-bridge-street-southbank-vic-3006">The One</a>, clearing the way for the long-dormant riverfront site opposite Crown to finally be developed.

The Minister for Planning has approved the project at 1-29 Queens Bridge Street, with the Department of Transport and Planning issuing the planning permit following its assessment.

The approval will allow PDG to develop the prominent 5,059 sqm site with a major mixed-use tower comprising premium apartments, including branded residences, a luxury hotel and boutique office space.

PDG acquired the site in late 2024, with its position directly opposite Crown's main entrance and near Melbourne's Arts Precinct making it one of Southbank's most significant remaining development opportunities.

<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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