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Melbourne-based property group and fund manager OpenCorp has come up with a financial product which it says offers Australians with moderate incomes the chance to become property developers.
The ‘Open Access Fund’ allows investors to invest in the fund and receive a monthly return at a fixed interest rate. Investors receive priority access to OpenCorp’s property funds as they become available, says a media release.
Clients can invest as little as $10,000 into the fund. From there, as new development funds become available, they can choose to direct any nominated amount into a new project.
The first property fund to become available for Access Fund investors will be OpenCorp’s apartment development in Albion, six km north of the Brisbane CBD.
The project has received planning approval for 154 apartments across six levels and is expected to give a 60 percent return on equity over the 3.5-year life of the project. The end value of the development is an estimated $90 million.
“There is a common perception that property development is just for wealthy people, and once upon a time this was the case,” said Michael Beresford, director of investment services at OpenCorp.
“We are now entering a new era for property development.”
More and more Australians are taking over their own investments, due to the volatility of the stock market since the global financial crisis, according to OpenCorp founding director Matthew Lewison.
“We are seeing more and more people taking over their finances, including setting up self-managed superfunds, and looking for innovative investment options,” Lewison says.
“Australians love property and the performance of investments in this sphere can make property development an attractive option.”
OpenCorp has been using a 'crowdsourcing’ model since 2009. The company has an Australian Financial Services Licence (AFSL # 417371) that has allowed it to create and operate crowdsourced funds for OpenCorp’s development projects.
Its pipeline includes over $500 million in developments, with a focus on the Brisbane and Melbourne markets.
“Investors can be across different markets at the same time and therefore benefit from the ups in each cycle,” said Lewison. 
OpenCorp says it has generated an average return of 20 per cent per annum for its investors over the last six years.
“People who haven’t saved enough money for a deposit for their own property can use this financial product as a stepping stone, or as a long-term investment option,” said Beresford.
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OpenCorp says its fund helps Australians with moderate incomes become property developers

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Australians' love affair with property investment could be tested by the continuing slowdown in home prices, and that investors may be second-guessing the validity of negatively geared investments, according to Bank of America Merrill Lynch.
According to the bank, this may be the last property price boom Australians will see for many years, according to a recent article in the Australian Financial Review.
March data shows that median capital city prices rose just 0.2 percent, with annual growth decelerating to 6.6 percent year-on-year. These figures are down from a July 2015 peak of 11.6 percent year-on-year and 11.9 percent in April 2014.
"A period of weaker price growth or outright modest declines is likely to become entrenched over coming years," Merrill Lynch said in a note to clients. 
"We'd expect that such a period could severely test Australians' long love affair with property investment."
Record low interest rates, while initially prompting new entrants into the property market, has left few marginal buyers following the extended period of these conditions.
While diminishing house price growth has not overly knocked household spending or confidence, the bank sees significant oversupply exacerbating the apartment sector in the next 12-18 months, particularly in Brisbane and Melbourne's central districts.
"This will likely be of concern to new investors in this market," the note reads.
"Yet this development is not expected to materially [affect] price performance of detached housing but may [hurt] sentiment towards the property market overall."
Though the bank expects these pockets of apartment price weakness to lead the further deceleration of price growth and building approvals, it doesn't expect this to spill over into the detached housing market, although prices will continue to decelerate over the course of the year.
That said, the over-supply issue could take years to resolve, particularly as falling Australian immigration numbers slow population growth.
Those with negatively geared investment properties may find they need to hold onto these properties for longer to realise adequate capital growth.
"In addition, over this period, they are likely to face regulatory risks from both sides of politics," said the bank, referring to taxation statistics suggesting that, among the 2 million landlords in 2013-2014, one in six individuals were eligible to pay tax, a potential target for government tax policy.
However, thanks to the low interest rate environment, the average rental loss per landlord has declined from $11,000 in 2010-11 to $8,700 in 2013-14.
RBA governor Glenn Stevens recently said that a moderation in house prices was helpful.
The last time the RBA cut rates was in February and May of 2015, and Merrill Lynch argues the property market was one of the only beneficiaries, as price growth leapt in the following months.
Merrill Lynch thinks it unlikely the RBA will cut rates soon, unless a material rise in unemployment jolts the Australian economy.
"It is our view that only a material rise in the unemployment rate should force the RBA's hand - not a, likely transitory, deceleration of inflation or as an attempt to manage the exchange rate," the note reads.
But it's the promise of a slowing growth asset that weighs on the bank's thinking.
"If dwelling and in particular apartment price appreciation is difficult to come by over coming years, new investors may increasingly question the validity of their negatively geared investment," the bank says.
As such, Merrill Lynch remains wary, citing high indebtedness combined with extraordinary monetary policy globally as the reason appetite for property may be diminishing.
"With household income growth soft, the reduced ability to borrow, or at least no further extension of it, will weigh on prices," the bank says.
"This most recent boom in dwelling prices is likely the last one we will experience for some time."
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Merrill Lynch says property slowdown will hurt negatively geared investments

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The rural year is really off and running and the level of transactional volumes for the past 12 months has certainly cemented the trend that started to emerge in late 2014, say valuation firm Herron Todd White. 
Across all states and territories, this activity had appeared to be home to the corporate market, however, we have seen local buyers in most regions enter the market place. These local buyers are supporting the volumes and within some areas giving an uplift in values, say HTW.
NEW ENGLAND/NORTH WEST/NORTHERN TABLELANDS NSW
Over the past six months there has been a significant increase in demand for larger aggregations in the New England, North West and Northern Tablelands area. We have seen an increase in buyers looking for well-developed properties in the $5 million to $15 million price bracket with an emphasis on cattle production.
The higher rainfall areas south of Walcha and the Ben Lomond and Glen Innes region have seen recent sales from the mid $5 million to $11 million with purchasers being a mix of local buyers looking to expand to out-of-town buyers looking for country with more reliable rainfall and higher carrying capacities. The sales, excluding buildings, show rates of between $6,000 and $8,000 per cow area.
In addition to the local and out of town buyers there has been an uplift in corporate and foreign investment across all three regions. As reported in the AFR in March, the recent sale of Cooplacurripa Station to Rifa Salutary plus two additional purchases of Kerriki and Number One, within five kilometres of Cooplacurripa, show the increased demand for cattle properties from overseas interests. 
Another sale to Chinese interests was Kyabra Station, 70 kilometres north of Tamworth which was sold for $11 million with an estimated carrying capacity of 25,000 dry sheep equivalent (DSE). 
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Local buyers supporting NSW rural volumes: HTW 

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In the Illawarra, the fringe areas tend not to be too far from the main centres of Wollongong, Shellharbour and Kiama.
These include Cringila, Port Kembla, Unanderra and Dapto, Barrack Heights and Lake Illawarra. While seen as fringe areas, they still command strong prices and below $400,000 is now rare, according to Herron Todd White's property clock for April 2016.
<a href="/images/2016/04/15/Screen%20Shot%202016-04-15%20at%2012.53.43%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/15/Screen%20Shot%202016-04-15%20at%2012.53.43%20PM.png" alt="">
 
In Shoalhaven, the fringe areas are essentially the small coastal towns based around Nowra. These include Shoalhaven Heads, Culburra and Callala Beaches, Greenwell Point, Sanctuary Point, St Georges Basin and Sussex Inlet. All have local shops, local services, parks and schools, but do miss out on high street shops, discount departments stores, modern conveniences and good public transport. Most of all they lack a deep job pool. 
Typically, there is a commute to jobs in the larger towns for these services and employment opportunities (usually a 20 to 60 minute drive). Real estate prices reflect this lack of services but can be somewhat buoyed by tourism and out of area buyers seeking that holiday house dream. Buy in prices in the Shoalhaven fringe areas are typically around $250,000 in Nowra for which you will pick up a 50-year-old three-bedroom fibro in fair condition perhaps with a single garage. Rents are in the order of 5 percent to 6 percent of purchase price per annum in the lower levels. 
In the Illawarra region, the entry-level market is limited at the sub $450,000 price point to older style houses in southern suburbs such as Unanderra, Cringila, Berkeley, Warrawong, Dapto, Warilla, Mount Warrigal and Barrack Heights. These will generally be 1950s to 1960s brick or fibro 2- and 3-bedroom dwellings in fair condition and without major updates.
Look for those closer to the beach where better long term capital growth is achievable. Rental returns will be around 5 percent gross. 
Cringila, close to the steelworks, is generally priced under $350,000, but long term capital growth is likely to be pegged back due to location. 
For units, our pick in the lower price range fringe CBD areas are one- and two-bedroom units close to the CBD in West Wollongong and Keiraville. These will be older 1960s to 1970s walk up style units generally with off street or single car parking. Stock is running out though in the sub-$350,000 market. 
To the northern fringe, Corrimal and Fairy Meadow still have units under $350,000 and are well located near shops and transport routes. The market in these areas is dictated by the other more valuable sectors and therefore over time the prices will move with these, whether up or down. In our experience these areas are the last to have price rises in any period of uplift and generally the last to see a fall.
Interestingly, the Wollongong area overall may be viewed as a separate fringe area for Sydney, a 45-minute drive to the north. As discussed in previous issues, prices here have been tremendously boosted in the past two years by the unprecedented growth in the general Sydney metropolitan area.
Helensburgh to the north of the Illawarra is a fringe Sydney location, with good rail and road links to the CBD and Parramatta. In recent years we have seen market values increase as buyers in the southern parts of Sydney are priced out.
As in all markets there must be base product to buy and demand dictates where this is. As mentioned above the main drivers for stronger prices in the real estate sector are jobs, accessibility to public transport and public services availability. Easy to say but get these right and the rest will follow
Some recent sold properties that Property Observer found on realestate.com.au are: 
<img src="/images/2016/04/15/sparta1.jpg" alt="" width="491" height="368">
<div id="listing_header">
1. A three-bedroom beachside townhouse at <a href="https://www.realestate.com.au/property-house-nsw-warilla-122080962" target="_blank">3/1 Sparta Street Warilla NSW 2528</a> (above) sold for $437,000
2. A two-bedroom apartment at <a href="https://www.realestate.com.au/property-apartment-nsw-wollongong-122216918" target="_blank">18/21 Bligh St Wollongong NSW 2500</a> (below) fetched $460,000
<img src="/images/2016/04/15/htw2.jpg" alt="" width="469" height="352">
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Illawarra's fringes command strong prices: HTW

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Victoria's Ballarat is a rising market for houses but on the decline for units, according to valuation firm Herron Todd White's April 2016 property clock, which also takes a look at its fringe suburbs.
Ballarat continues to see the $200,000 to $400,000 housing market the most commonly traded. This market reflects the affordability for first home buyers and young families. Within this market suburbs that are performing strongly include Ballarat East, Lucas and Delacombe. Ballarat East provides period, older style housing with a central location in comparison to the more modern suburbs of Lucas and Delacombe.
<a href="/images/2016/04/15/Screen%20Shot%202016-04-15%20at%201.34.54%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/15/Screen%20Shot%202016-04-15%20at%201.34.54%20PM.png" alt="">
Lucas and Delacombe provide a trade-off of location with modern housing conveniences. These fringe suburbs are unlikely to show marked increases in value in the short term due to excessive supply with increasing numbers of subdivisions coming onto the market.
Fringe suburbs on the eastern side of Ballarat such as Brown Hill provide more opportunity for growth with good demand due to the accessibility to the freeway for Melbourne commuters, however with a higher price point due to this factor.
While these fringe suburbs are unlikely to experience growth in value, they continue to provide a good quality, stable, long-term investment opportunity with good rental returns of around 5%. Demand for rentals within this market remains strong. 
Currently, demand for these outer fringe suburbs remains steady with a growing population resulting in expansion of the city boundaries. Lucas and Delacombe both include plans for increased infrastructure such as shopping centres, schools and parks. While planning for these facilities is in place, there remains a lack of transport infrastructure servicing these areas with road access to the CBD becoming increasingly busy with the fringe expansion.
From an investment point of view, both owner-occupiers and investors face a trade-off between inner city, older suburbs with older housing and good potential growth versus the option of low maintenance, modern housing with lower capital growth on the fringes.
Property Observer found a few examples of recently sold properties in Ballarat's fringes on realestate.com.au:
<img src="/images/2016/04/15/rent3.jpg" alt="" width="492" height="369">
1. A four-bedroom house with car space for two at <a href="https://www.realestate.com.au/property-house-vic-delacombe-116968007" target="_blank">5 Earls Square Delacombe Vic 3356</a> sold for $317,000
2. A three-bedroom house at <a href="https://www.realestate.com.au/property-house-vic-lucas-121823070" target="_blank">19 Sutcliffe Street Lucas Vic 3350</a> fetched a price of $327,000
<img src="/images/2016/04/15/rent4.jpg" alt="" width="472" height="354">
 
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Fringe suburbs in Victoria's Ballarat reflect affordability for FHBs: HTW 

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Perth sellers looking for a quick sale for their property should look to auctions, with new data from reiwa.com revealing that auctions in the metropolitan region sell faster. 
Although the percentage of Perth vendors choosing auctions was still small, this method was gaining popularity because of the visibility of auctions on mainstream television, said REIWA president Hayden Groves.
“Auctions are becoming more familiar to West Australians, and Perth sellers are increasingly more open to this selling method. While private treaty remains the most common way to sell a property in Perth, auctions did hit a 15-year high in December 2015, with 3.1 per cent of all sales in the metropolitan region happening under the hammer," she said. 
“This figure did dip in January due to seasonality, but recovered quickly and was back up to 2.9 percent in March.”
Reiwa.com’s analysis found that sellers who go to auction are more likely to sell faster than those selling via private treaty. 
The average selling days for auctions fell steadily in each quarter last year and now takes 26 days less to sell by auction than private treaty,” Groves said. 
REIWA is a member-owned organisation representing over 1,100 agencies and more than 90 percent of operating real estate agents in Western Australia. 
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Auctions achieve faster results for Perth sellers: REIWA 

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A mixed-use property with retail and medical space in the Sunshine Coast has come to the market.
Pulse Oceanside, developed by Evans Long, offers ground floor retail and first floor medical suites in a location opposite the proposed entrance of the Sunshine Coast University Hospital. The combined space is 1,376 sqm.
CBRE’s Michael Hedger, Joe Tynan, Millan Narsey, Sam Grasso and Ryan Parry will be negotiating the sales of the properties, which will be offered individually to suit passive investors and self-managed super funds looking for security and strong growth.
The suites will be offered to the market via an expressions of interest campaign ending this month, with the sales expected to have a combined value of $15 million.
Tynan said the immediate precinct is undergoing a major health care infrastructure development, valued at more than $5 billion, which will create 12,000 new jobs and drive further growth in the area – underpinning the retail market.
“Significant buyer interest is expected from both national and international groups, particularly as buyers are more actively targeting the Queensland market to benefit from more attractive yields than those offered in Sydney and Melbourne,” added Hedger.
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Retail and medical spaces for sale in Sunshine Coast

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The regional centre of Tamworth (postcode 2340), also known as the country music capital of Australia, figures on the list of most searched suburbs by rent.com.au for 2015.
The median rental for all rental properties advertised in Tamworth in the 30 days to February was $300 per week, a significant 6.25 percent or $20 lower than the previous quarter, according to <a href="https://rent.com.au/" target="_blank">rent.com.au</a>.
This was also lower than the median of $315 per week of surrounding suburbs, which comprise East Tamworth, North Tamworth, South Tamworth, Taming and West Tamworth. 
A look at rental pricing trends also shows that median weekly rents for both houses and units haven’t had any spikes or sharp falls in six-months from August 15 to January 16.
The average days on market for all rental properties advertised in Tamworth within the monitored 90 day period also fell by nine days to 29 days from the previous quarter.
There was a total of 151 rental properties advertised in Tamworth within the last 30 days, a jump of 41 from the previous 30 days. Out of these there were 93 houses and 58 apartments. 
The dwelling composition of postcode 2340 is 63.5 percent houses and 36.5 percent apartments, according to ABS data.
The rents ranged from $150 for a one-bedroom dwelling to $515 for a five-bedroom place in the 30-day period.
There are a total of 31 rental properties in Tamworth, 59.6 percent of all properties in Tamworth (ABS, Census Data, 2011).
Property Observer showcases two examples around the median rental price from rent.com.au:
<img src="/images/2016/04/15/rent1.jpg" alt="" width="553" height="398">
<ol>
<li>A three-bedroom house at <a href="https://www.rent.com.au/property-house-tamworth-2340-1694111" target="_blank">28 Hercules Street</a> (above) is up for rent at $310 per week.</li>
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A three-bedroom house on <a href="https://www.rent.com.au/property-house-tamworth-2340-1693342" target="_blank" style="line-height: 1.3em;">23 Warren Street</a> (below) is available for $295 per week.
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<img src="/images/2016/04/15/Screen%20Shot%202016-04-15%20at%2010.43.46%20AM.png" alt="" width="649" height="456">
The ASX-listed Rent.com.au Ltd achieved a record 615,405 unique visitors to its website in January, followed by more than 610,000 unique visitors in February.
Landlords are able to list their property for free in a limited time offer on <a href="https://www.rent.com.au/" target="_blank">rent.com.au</a>. 
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NSW’s Tamworth median rent fell more than 6 percent in 30 days, average rate on market up: rent.com.au

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The site of Katoomba restaurant, Pins on Lurline, and its Federation home and guest house, have been bought by a young family for an undisclosed sum.
The 132 Lurline Street property, built in 1898 by local businessman H. A. Bundy, was sold through an expression of interest campaign which closed in March.
The deal was brokered by Gunning Real Estate sales agent Tom Speakman on behalf of Blue Mountains restaurateurs Simon and Keiko Kjelgaard, who purchased the property in 2012. 
“They are very pleased with the outcome and are excited to move forward with their plans to move to Japan after more than 20 years operating the Pins brand in the Blue Mountains and four years on Lurline Street,” Speakman said.
“The new owner will be running the restaurant themselves and renting out the guest house as a business. They are looking for a change of pace and will relocate from the Sydney CBD. It is an exciting adventure for them as they have a young family and no restaurant experience."
The restaurant seats 60 people. The property has a self-contained garden holiday cottage, Keiko’s Nest as well as a private residence with three bedrooms, Speakman said.
The original house was designed to be built ‘out in the bush’ and the owners operated a small tearoom in the hustle and bustle of Katoomba main street, its website says. 
Pins, formerly known as Pins And Noodles, originated in Katoomba Street some 20 years ago and moved to Leura village before finally coming to rest in Lurline Street, hence the new name, ‘Pins On Lurline’.
 
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Blue Mountains restaurant Pins on Lurline sells

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Plans are afoot for a 267 apartment residential project in Sydney's north-west. 
Capital Corporation has submitted a development application (DA) with Hills Shire Council for ‘Esplanade’, proposed to be an integrated community comprising 267 apartments across two high-rises, with a host of resident-only facilities, three levels of boutique workspaces, waterfront dining and retail areas.
The DA is the result of a long consultation process with Norwest Association and Council, says Capital Corporation managing director Steve Grant.
“We know and understand Norwest and Bella Vista as a residential area and business park – we were integral in developing that original vision - but what we could see was its future as an integrated lifestyle destination," said Grant.
“We’ve sought input and consulted extensively on our ideas, and overlaid that with what we’ve learnt from our projects in the Fairway Drive area, in terms of understanding the developing family and empty-nester market around Norwest.
The project, designed by architects Turner, will take come up on the waterfront site best known as the location of the Sydney Ice Arena on Solent Circuit, Baulkham Hills.
The Ice Arena is expected to relocate later this year.
“Bella Vista, which sits within Norwest, has always been considered a premium residential area – outperforming beyond anyone’s expectations. People have always looked on it as a high-end neighbourhood," said Grant.
“Esplanade responds to the fact that many families who moved here two and three decades ago are questioning whether the big house and high-maintenance garden is what they want to deal with for the next ten years.
“Moving into a new home, within easy reach of all the things that make daily life more enjoyable is now a real consideration for people living in the suburbs surrounding Norwest,” he says.
The development will have landscaped gardens, a rooftop cinema, a pool and barbecue areas. 
The project also proposes to upgrade the boardwalk on Norwest Lake, expanding the public space at ground level. 
The Norwest station is close and Grant says he is confident that as the M2 and M7 connected Norwest to the rest of Sydney, so too would the Sydney Metro North-West transform the travel experience in the area and link it even more easily to key education, medical and shopping hubs.
“There are some 20,000 people working in Norwest right now with projections that could grow to 35,000. More than 400 companies base themselves here and investors will see the obvious opportunity in locating attainable urban-style living within such a successful employment centre," he said.
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Esplanade set to deliver next-gen living to Sydney's north west

A long-stalled Campbelltown development site is back in play, with new plans for 139 apartments set to supersede a mixed-use scheme approved almost a decade ago but never built.

The new proposal for 28 Cordeaux Street would deliver 116 market and 23 affordable apartments in a part 14-storey building, bringing a substantial new project into a Campbelltown market where new apartment supply remains limited.

Plans have been filed over the 3,092 sqm corner site at Moore-Oxley Street, around 600 metres from Campbelltown Railway Station and the city-centre retail core.

The site already carries a mixed-use residential approval dating to 2016. Doroch Architects has now been engaged on a larger replacement scheme, which is progressing as a State Significant Development Application following a Housing Delivery Authority determination in August 2025.

The apartment mix comprises 39 one-bedroom, 72 two-bedroom and 28 three-bedroom residences. Two-bedroom apartments make up just over half of the project, while three-bedroom homes account for 20 per cent.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="136dd5b9-3791-4da6-9e31-76f533f5b4de" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da2.png?VersionId=LgOSy9nwf5u.MGswBBwaGGxuX8QpHSl_" />

Of the 139 apartments, 23 will be delivered as affordable housing under the in-fill affordable housing provisions of the Housing SEPP. The affordable component represents 15 per cent of the residential gross floor area and will be managed by a registered Community Housing Provider.

Doroch has sought to break the scale of the building into two distinct elements, with a masonry podium of around four storeys establishing the street edge before the residential tower steps back above.

The corner position has shaped that approach. Cordeaux Street faces toward the commercial and civic centre, while Moore-Oxley Street leads into the lower-scale residential neighbourhood to the south, and the design verification report describes the site as "bridging the commercial core to the north and established residential areas to the south."

The podium will be expressed predominantly in face brick, while the upper levels shift to brushed and grooved concrete cladding with darker metal detailing. Recessed sections, deep balcony edges and landscaping break down the upper form, with an approximately 11.8-metre setback to the northern boundary addressing the adjoining St Peters Anglican School.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="c8b3d2d3-c561-4bfc-a5d9-a68c0c10dac1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da1.png?VersionId=AeAEyJU02Gk2k5noUj2StziCvdQ7fW4B" />

Campbelltown has been starved of new residential developments in the last decade.

The only other notable development set to come to market this year is ALAND's Queen Square, a mixed-use precinct on over two hectares that will comprise apartments above a vibrant ground-level retail and hospitality dining precinct.

Joel Robinson

First look: New 139-apartment plans revive long-stalled Campbelltown city centre site

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.

[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.

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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]

Prateek Chatterjee

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