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Engineering firm Bosch inaugurated its $40 million headquarters and technical centre at Clayton in Victoria this week and said it would invest a further $6.2 million in increasing its diode production capacity.
The investment at its 120,000 square metre campus is its single largest in Australia since it set up the wholly-owned subsidiary in 1954. The company has around 800 employees at the centre.
The centre was inaugurated by the Victorian minister for Industry and Minister for Energy and Resources, the Hon Lily D’ambrosia MP.
Bosch's new headquarters will support new businesses, engineering and R&amp;D initiatives, said a media release.
“The new facility is evidence of Bosch’s long-term commitment to diversified activities in this region including sales and distribution, high-tech engineering, advanced manufacturing and further investment into exciting new fields,” said Gavin Smith, Bosch president with responsibility for the region Oceania. 
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Most recently, the company invested in Australian start-up The Yield, which focuses on micro-climate sensing technology in agriculture and aquaculture.
Bosch is also working in the areas of Highly Automated Driving (HAD), vehicle connectivity and vehicle security (through secure gateway systems) in Australia.
New business activities in Australia have also been introduced in eBike service, motorsport components sales and innovative software solutions for the Internet of Things (IoT).
In addition Bosch is investing a further $6.2 million in manufacturing for the global automotive sector. The Clayton facility's Diodes production capacity will be increased to cater to its growing international customers. The federal government has also contributed $1 million from the Automotive Diversification Programme (ADP). 
The new facility incorporates offices, workshops, testing facilities, training rooms and employee amenities. It has a landscaped courtyard with semi-established trees, and an outside terrace with an alternative working space.
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Bosch's $40 million centre in Victoria inaugurated 

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A mixed-use masterplanned urban village in Melbourne's Footscray comprising up to 1,000 apartments and a new retail laneway linking the suburb to the Maribyrnong River is part of a $600 million development plan by developer Growland.
The site at 8 Hopkins Street spans 13,500 square metre and on completion will also feature an elevated Olympic-sized running track for residents.
The precinct, designed by Melbourne architectural firm Kavellaris Urban Design (KUD), will be named Joseph Place and proposes six buildings earmarked for apartments and a potential hotel, 4,000 square metres of retail space and open space for public.
If approved by the state government, construction on Joseph Place is expected to start in early 2017, with the first apartment building due to launch for sale over the coming months.
Due for completion over the next several years, the integrated mixed-use development is expected to house more than 3000 residents and 30 new retailers.
Apart from a new retail laneway, it will have a pedestrian link from Footscray to the Maribyrnong River where, in the future, potential river taxis could connect locals to the city.
“Joseph Pl will elevate what’s on offer in Footscray, bringing its amenity in line with its inner city neighbours. The elevated Olympic-sized running track takes the idea of an apartment gym to the next level,” KUD director Billy Kavellaris said. 
Growland CEO Stephen Yau said Footscray was the same distance from the city as Richmond and was currently undergoing the same transformation Richmond underwent some years ago. 
“Footscray is currently in the midst of a demographic shift - attracting a new wave of students, young professionals and working families who are looking to reside in a well-connected community with easy access to transport services,” Yau said.
“The inner west has been recognised as one of Melbourne’s most undervalued opportunities and is due for rapid growth over the next two to five years."
The Joseph Place precinct is 4.5 kilometres from Melbourne’s CBD. 
Growland is a Melbourne-based developer which was founded in 2013 by property entrepreneur Bruce Chan and architect Stephen Yau.
 
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Plans afoot for a $600 million, 1,000 apartment project in Melbourne's Footscray

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Melbourne's shopping strips are witnessing an emerging trend in that those further out of the traditional 5 km CBD radius are performing well, according to new research. 
Beller Commercial have just completed their first quarter strip shopping research, a matrix of 28 key shopping strips that shows the number of shops, number of vacancies, average asking rent per square metre and yield.
The research is conducted on ground with agents taking to the streets and physically counting the ‘for lease’ signs vacant stores, checking web listings and then the data is put together for the final results.
"It is important to look at ranking and ask, what is showing the most improvement, specifically in terms of low vacancies and rate per square metre?" says a note from Fred Nucara, director of Beller Commercial.
As one goes further out, the satellite villages are servicing well-established, affluent pockets demographic pockets. Also adding to the popularity of these strips are new medium, 4 – 5 level medium density residences which are more prevalent in suburbs such as Glenferrie Road, Malvern, Whitehorse Road, Balwyn and Burwood Road, Hawthorn, according to the research.
"Everyone is taking these ‘villages’ for granted but it is important to take it to the next step as an investor. These burgeoning neighbourhoods are a well kept secret, but they won’t be for long," writes Nucara.
Other top performers that have managed to flip their fortunes are Toorak Road, South Yarra where in September 2014 there were 12 vacancies, today there are only five vacant stores.
Also High Street Prahran, Armadale has seen a drop in vacancies. This can be partially attributed to the completion of new residential apartment blocks, but also rents have come back and are now more affordable to small business operations.
Along High Street, the $600 per square metre is the recently adjusted asking price from landlords and has encouraged a new generation of entrepreneurs to set up shop, the note says.
"The health and wellbeing category is significant and we are receiving regular enquiry from massage therapists, nail technicians, hairdressers and general fitness operators. It is clearly no longer a case of lets build an apartment building and put a café on the street level, new neighbourhoods require services too."
But along with the star performing strips, there are some shockers as well.
"Fitzroy Street St Kilda still can’t shake off its shady identity. With 24% vacancy rate, the Street is lurching through from summer to summer," the note says.
"Fitzroy Street should have more appeal because it close to the beach. It actually has the same feel that Smith Street, Collingwood had a few years ago. I like to think the future prospects are good (new apartment buildings arriving and the infamous Gatwick Hotel currently for sale). Given the length of the strip, it needs to be better facilitated by car parking. Also there are nearby competing areas, where the street vibe is more pleasant such as Albert Park, Middle Park and Acland Street.
"In conclusion, I’m upbeat about 2016 commercial prospects."
Nucara expects the 2015 momentum to continue as interests rates are low and "it’s a great time to both buy and sell". 
Beller Commercial’s Top Ten Performing Retail Strips
Performance and ranking is based on a ‘consistency’ of low vacancy rates, rentals at maximum levels and diversity of retailers/services over multiple research walks.
1. Acland Street, St Kilda
2. Whitehorse Road, Balwyn
3. ToorakRoad, South Yarra
4. CentreRoad, Bentleigh
5. GlenferrieRoad, Malvern
6. Burwood Road, Hawthorn
7. CarlisleStreet, Balaclava
8. ChapelStreet, Windsor
9. Toorak Village, Toorak
10. Smith Street, Collingwood
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Acland Street in Melbourne's St Kilda tops Beller Commercial's 2016 shopping strip research

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Rental property technology company Property Connect Holdings Limited (ASX:PCH) said it has signed a letter of intent (LOI) with Hunt Companies Inc., the largest owner of multifamily apartments in the US.
Under the LOI, Hunt Companies and its affiliates, which owns a portfolio of approximately 244,000 multifamily apartments, will complete leasing transactions for its premium apartments using Property Connect’s LiveOffer™ technology. The product allows potential tenants to make offers on a rental property and thus aims to provide a fair market value.
Texas-based Hunt Companies is privately owned and is a full-service developer, investor, financier and property manager of affordable and market rate multifamily properties across the US.
As an early adopter of LiveOffer™ v2, Hunt Companies has got a 25 percent discount for the first 12 months.
“As one of the dominant players in the multifamily sector it is a coup for us to sign Hunt Companies in the lead-up to our release of LiveOffer version two," Property Connect CEO Tim Manson said.
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US multifamily property owner Hunt Companies agrees to use Property Connect leasing tech product

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An entire top floor of offices and a ground floor cafe in a commercial building in CBD Robina, the Gold Coast, have been put on the market by developer the Robina Group.
The top floor space totals 1,510 sqm, including 1,203 sqm leased to the state government until December 2017,  and 245 sqm recently leased to an education provider on a three-year lease, with further options.
The 63 sqm street level cafe, including a seating area, is operated by Liquid Espresso on a five-year lease, with a five-year option in place.
The Eastside commercial building has signage rights, car park and basement storage space.
Knight Frank's Tania Moore and Mark Witheriff are marketing the property through an offers to purchase campaign, closing on May 19. 
The combined net income from the property is $689,468 per annum.
"The top floor space has been held by The Robina Group as a premium income generating offering, however with the current increased confidence in the commercial market the developer has decided the timing is right to release this final opportunity," said Moore. 
"Eastside’s 32 suites are fully occupied and the building has always performed well due to its proximity to Robina Town Centre and access to the M1 Motorway and public transport."
Eastside is located opposite The Rocket, which sold in 2015 for $70 million - the highest commercial sale price in Gold Coast City since 2007.
CBDRobina boasts an office vacancy rate of 5.6%, substantially lower than Gold Coast City as a whole and all Australian Capital City CBD markets, said the media release.
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Leased office suites and cafe in Gold Coast's Robina up for sale 

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Demand for strata office property in the Melbourne CBD has grown in the first quarter of the year, as evident from a recent sale for $1.75 million and another lined up, according to Colliers International.
A 320 sqm whole floor at Level 8, 21 Victoria Street was bought by a private investor for $1.75 million. The sale, through Colliers, represented a yield of 5.62%.
Colliers International executive for Melbourne City Sales, Chris Ling, said the first quarter of 2016 had seen significant demand for CBD strata floors, including both investments and vacant floors.
Another office suite, spread over 360 sqm on the mezzanine level of 58 Franklin Street, is due to hit the market in coming weeks.
Colliers International expects the whole floor, close to Melbourne’s core retail and university precinct, to attract interest for both commercial use and potential residential conversion.
“Our Melbourne City sales team is currently seeing an unprecedented surge in demand for CBD strata office properties in the CBD,” Ling said. “This demand is powered by record low interest rates, a low Australian dollar and instability in offshore markets.
“In addition, given the current timing in the calendar year, business owners and operators are looking to secure new office space to set themselves up for the rest of the year. CBD vendors, meanwhile, are piggy backing off the momentum seen throughout 2015 in order to capitalise on the current environment.”
The property on Victoria Street saw strong competition between local and offshore buyers and sold prior to the close of the EOI campaign, Ling said. 
In 2015, Colliers International recorded more than $35 million in strata office sales in the CBD, with an average sale price of $1.95 million and an average size of 367 sqm.
According to the latest Colliers International CBD Office Research &amp; Forecast Report, Melbourne’s CBD market continued to go from strength to strength, with high levels of net absorption and a corresponding low vacancy rate. The vacancy rate for the Melbourne CBD dropped to 7.7% in Q1 of 2016, dropping to as low as 5.1% in the north eastern pocket.
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Victoria St office fetches $1.75 million as strata office demand rises in Melbourne

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Darwin, the capital city of Northern Territory, was approaching the bottom of market for both houses and units in valuation firm Herron Todd White's latest property clock, April 2016, which also focuses on the markets in the fringe suburbs.
To identify the fringe suburban areas of the Darwin residential market, HTW split it up into three key areas. These are inner city, the northern suburbs and the nearby satellite city of Palmerston. Each of these areas has their own fringe suburbs with a common trait shared by all - they generally have the most affordable prices for their sector.
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The inner city fringe suburbs comprise Stuart Park, Ludmilla and The Narrows. Stuart Park occupies a position nearest the Darwin CBD area and has a mix of units and houses whilst Ludmilla and The Narrows are primarily single residential dwellings on large residential allotments. Generally, those who can’t afford the pricier options of the CBD, Larrakeyah, Parap or Fannie Bay look to these suburbs as they are in relatively convenient locations close to the city, with good access to public transport, local schools and other amenities. There has been little to no activity on the sales front for houses in these suburbs, with Stuart Park having only four house sales in the December 2015 quarter. This is reflective of the Darwin market overall which is struggling, with overall vacancy rates up to 8.2 percent (source: REINT).
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The volume of unit sales in the inner city fringe suburbs has fared substantially better, however, with sales in Stuart Park increasing by 42% but with a median price drop of 10%  (source: REINT). This can be attributed to new developments being released to the market such as the highly awarded Artique complex and savvy investors jumping on a bargain. These figures can be significantly misleading however. Due to the withdrawal of the first home buyer’s grant for existing dwellings, new developments have become extremely attractive while existing units have experienced substantial softening.
A semi-modern two-bedroom unit in Stuart Park recently sold for as low as $385,000. The downturn in the market has opened up the potential for good buying in the area, with the added convenience of being close to the CBD.
A secondary fringe area is the ex-government housing dominated part of the northern suburbs, particularly Malak and Karama. Considered the most inferior part of this area, Malak and Karama are primarily made up of single residential dwellings with a small number of units. These suburbs have performed fairly similarly to other parts of the northern suburbs, with median house prices down approximately 10% on the quarter for both (source: REINT). Good buying can definitely be had, with entry level ground level three-bedroom houses being sold in the mid $400,000 range. In the upper range, elevated properties (considered superior due to the ease of being built under) can be purchased for as low as $520,000.
Vacancy rates are up by 3.4% to 9.2% (source: REINT) year on year, which again is a reflection of the slowing down of the Darwin residential market as a whole. Rents for three-bedroom dwellings in this area have dropped to a median amount of $540 per week which equates to a 16.9% drop per annum. Long term, these suburbs do make for good buying for those who can’t afford the more expensive locations closer to the Nightcliff foreshore and Casuarina Shopping Centre. In the medium term, Malak and Karama are expected to follow the rest of the greater Darwin market, having experienced a large amount of softening since 2014.
Recent sales evidence has shown the market is stabilising however, with vendors setting reasonable price points to meet the new market conditions.
This leaves us with Palmerston, a satellite city approximately 20 kilometres south of the Darwin CBD. The removal of the first home buyer’s grant for existing properties has had a large impact across the board. Fringe suburbs include Moulden, Rosebery, Woodroffe, Driver and Bakewell. Sales volumes for dwellings are significantly down, with last quarter each posting drops of at least 50% on annual figures. Cheap buys in Moulden mean that the mid to high $300,000 range can grab you a neat and tidy three-bedroom property. 
Unit stock is also feeling the pinch, with drops in median prices ranging from 2.2% in Rosebery to 18% in Bakewell (source: REINT). These figures reflect a market that has seen a significant downturn, with little evidence of an increase in values any time soon. In Bakewell, a two-bedroom semi-modern unit can be bought for $285,000 and in Rosebery a modern two-bedroom unit can be picked up for $350,000.
The problem is all older stock is competing against brand new dwellings in Durack Heights or Bellamack with first home buyer concessions to boot. There are bargains out there obviously with prices down and vendors needing to sell, however it has become a waiting game for purchasers as with an excess of supply on the market they are spoilt for choice. There has been recent market evidence that 2016 won’t be as bad as 2015, but there is no doubt the polarisation of new versus old stock will remain until the Northern Territory Government addresses changes to the first home buyer’s scheme. A substantial election promise tackling this issue could be on the cards, with real estate professionals across the board agreeing on a necessary change and an upcoming general election scheduled for August 2016.
 
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Fringes reflect Darwin's struggle, units fare better than houses: HTW 

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Sentiment among residential property professionals turned positive after three consecutive quarterly falls, led by Victoria though Western Australia was still falling, according to NAB’s Residential Property Index for the first quarter of 2016.
Meanwhile, foreign buyers are pulling back across most states except Queensland.
The NAB Residential Property Index rose to +6 in Q1’16 (+1 in Q4’15), but is still sitting below its long-term survey average (+13).
NAB expects average national house prices in 2016 to rise by 1.5%, with unit prices to fall 1%.
According to NAB Group Chief Economist Alan Oster: “The latest results continue to paint a very mixed picture across the country, with positive sentiment in the Eastern seaboard states offsetting negative results in all other states.”
Foreign buyers are shifting their focus to Queensland (more than one in five new sales). 
Overall, sentiment remains strongest in Victoria, which is also the only state tracking above its long-term average. Sentiment improved most in NSW in Q1 2016 and also lifted modestly in Queensland and SA/NT (but still negative). In contrast, it fell to a new survey low in WA which continues to trail the rest of the country by a considerable margin.
Survey expectations for national house price growth over the next year were broadly unchanged, but again there were notable differences across the states.
Expectations for price growth improved most in Victoria (1.7%) and are now highest in the country. They also improved in SA/NT, but remain quite weak (-0.1%). Expectations weakened a little in Queensland (1.2%) and were also revised down in NSW (-0.2%) and WA (1%).
Looking further out, house prices are expected to grow in most states in two years, with Victoria (1.6%) and Queensland (1.4%) leading the way, with small gains also forecast for WA (0.4%) and SA/NT (0.3%). NSW is the exception, with the survey predicting modest falls (-0.1%).
“At this point in the housing cycle, it is not clear whether the gains over first quarter of 2016 are pointing to an ongoing trend, or if it is simply a flash in the pan before the market peak, perhaps triggered by external factors,” said Oster.
Accordingly, NAB has marginally increased its average national house price forecast in 2016 to 1.5% (from 1%). Unit price forecasts are broadly unchanged, with large additions to supply expected to contribute to a decline of 1% over 2016.
By capital city, Brisbane and Melbourne are expected to be the best performers, with Brisbane house prices forecast to rise by 2.6% in 2016, while Melbourne increases 2.3%. Sydney house price growth is forecast to moderate significantly to just 1.5%. The Adelaide market is not expected to improve much in 2016 - an increase 0.2% roughly offsetting a similar fall in prices in 2015. Perth will remain very weak as prices decline by another 3%.
For apartments, flat to falling prices are expected across most capital cities. The worst declines are forecast to again be in Perth, as well as Melbourne (both -3%). The decline in Perth largely reflects economic conditions, while falls in Melbourne are expected as a result of added supply and weaker investor demand. Sydney unit prices will also be weaker (-0.6%), while Brisbane unit prices are expected to decline by a similar amount.
Another key take out from the survey is the smaller role being played by foreign buyers in Australia’s housing market.
“Their market share of property sales in both new and established housing markets has been falling since the final quarter of 2015, which also coincides with the introduction of tighter legislation around foreign purchases of Australian property,” said Oster.
In new property markets, the share of demand coming from foreign buyers fell to a 2½ year low of 11.8% and down from a survey high of 16.8% in Q3’14.
Moreover, the survey is highlighting a shift in foreign buyers away from Victoria and NSW to Queensland, perhaps in search of better value.
Foreign buyers in Victoria and NSW accounted for around one in 10 new property sales in the March quarter, but in Queensland they purchased more than one in five new properties.
Foreign buyers had previously accounted for around one in three new home sales in Victoria in late-2014 and around one in five sales in NSW in early-2015.
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Property sentiment lifts after three quarterly falls: NAB's Q1 survey

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Brisbane CBD’s latest purpose-built student accommodation, Iglu Brisbane City, has opened its doors after a three-month delay for occupancy approval clearances, with more than 250 students moving in.
Located at 65 Mary Street, Iglu Brisbane City includes 414 beds in air-conditioned studio and multi-share configurations. It has communal areas including a gym, games areas, cinema room, and an outdoor entertainment area.
The Queensland government had initially denied occupancy approval while it investigated the building’s external aluminium panels. 
The Queensland Fire and Emergency Service had raised concerns the cladding presented a fire risk and would put the building's occupants in danger, said an article in brisbanetimes.com.au.
During this time, Iglu paid for alternative accommodation for the students, a media release said.
Following the government confirmation, Iglu director Jonathan Gliksten said he was excited to welcome residents to the building.
“Iglu Brisbane City boosts Brisbane’s appeal as an ideal student living destination for local, regional and international students,” he said. "Our accommodation is close to universities, transport and shopping, and is staffed around the clock." 
“We have always known that our building complied with National Construction Code and are absolutely confident in the quality and safety standard of the building materials used,” Gliksten said.
“We understand that the Queensland government needs to ensure the safety of buildings, but we were disappointed with the length of time the process took."
The project is the fourth student accommodation facility under the Iglu brand with another in Kelvin Grove, and two in Sydney. Two additional properties are currently under development in Redfern (Sydney) and Melbourne CBD.
Iglu Brisbane City's accommodation options include share apartments, studios or one bedroom apartments, with early bird rates still available for Semester 2, 2016.
 
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Iglu's Brisbane student tower opens after 3-month delay for safety checks

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As Australia’s seventh largest city, Newcastle has many fringe residential options for the savvy buyer or investor, according to HTW's latest residential property clock.
The NSW city was also at the peak of the market position on the clock for both houses and units.
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With positive capital growth and increasing values of inner city residential properties, Newcastle’s outer fringe suburbs including Fletcher and Cameron Park have provided investors with improved contemporary options and value for money.
For example, a contemporary four-bedroom and two-garage dwelling on 600 square metres of land in Fletcher may be found for around $550,000, however a dwelling with similar features in the inner suburbs of Newcastle may sell for $800,000 plus. As a result, anecdotal evidence is showing that more families are choosing to live in fringe suburbs where families will enjoy more space, while dwelling capital growth in suburbs such as Fletcher has also been in positive territory for three consecutive years (2013 to 2015).
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Unlike Australia’s larger cities, traffic in Newcastle is rarely problematic and subsequently, suburbs on the Newcastle city fringe allow commuters easy access to CBD-based careers, services and social activities. A trip from Newcastle’s fringe suburbs to the Newcastle CBD may only take 20 minutes, as opposed to Australia’s larger capitals where a similar journey could take at least an hour.
According to the New South Wales Department of Planning and Environment’s Demographics Unit, in 2011 there were 70,750 existing residential dwellings in the Newcastle LGA and 84,150 in the Lake Macquarie LGA. By 2031, this is projected to grow by 24.5% to 88,050 in the Newcastle LGA and 15.3% to 97,000 in the Lake Macquarie LGA. Many of these dwellings will be built in the fringe suburbs of Newcastle where land will continue to be made available for a growing population.
Newcastle’s fringe suburb investments of good quality residential assets will provide sound investments over the long term provided access to the CBD and Newcastle’s service industry remain straightforward and Newcastle’s population continues to grow. 
Of course, with a low buy in price comes affordable rental, so outer edge suburbs usually have reasonable tenant demand too. Traditionally, the gross return is strong compared to those blue bloods closer to the CBD as well. 
Property Observer found a couple of examples of recent sold dwellings on realestate.com.au:
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1. A four-bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-fletcher-122000374" target="_blank">34 Konara Crescent, Fletcher</a> (above) recently sold for $580,000
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2. A two-bedroom unit at <a href="https://www.realestate.com.au/property-unit-nsw-hamilton-121439890" target="_blank">7/84 James St Hamilton NSW 2303</a> (above) fetched $385,000
 
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Newcastle's fringes are for the savvy investor: HTW 

Joel Robinson

First Look: Sherlock Construction pitches apartments for low-rise Deception Bay

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.

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.

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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.

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“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.

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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.

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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.

Prateek Chatterjee

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