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A prime site in Melbourne's Box Hill site has sold under the hammer to a local investor for $3.15 million through Fitzroys.
The 607 Station Street property is zoned Commercial 1 and has a part-single and two-storey building with an area of 190 sqm.
The sale reflected a tight 3.6 percent yield.
The auction was handled by Fitzroys agents David Bourke, Martin Huang and Terence Yeh.
“This was one of the first retail investment marketing campaigns for 2016 and the result bodes well for retail investments with strong fundamentals,” Bourke said.
Bourke said there was demand from local and offshore buyers throughout the campaign, with a local investor eventually winning out.
The property was sold with a five-year lease with two further options of five years to the eatery China Bar, currently returning $117,945 per annum plus GST and outgoings.
Yeh said the property’s viability was further underpinned by its location adjacent to Box Hill Central Shopping Centre and Railway Station.
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Melbourne's Box Hill site fetches $3.15 million at auction

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Newcastle occupies the peak of market position on Herron Todd White's latest residential property clock and staying ahead of the gentrification curve can prove profitable to investors, according to the valuation firm.
Newcastle’s persona in recent times has moved from a blue collar, working class port city to a trendy, beach-loving metropolis flourishing with bars, cafes and hip warehouse conversions. 
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Newcastle is witnessing a period of substantial demographic and economic change as economic reliance is diversifying away from coal exports and moving into other economic drivers such as small business, education and professional services. With this change, the social fabric of Newcastle is seeking inner city, stylish living and services as offered in larger capital cities. 
Gentrification is on show in the once industrial parts of Newcastle. Suburbs such as Mayfield, Islington, Wickham, Carrington, Tighes Hill and Maryville are leading this revitalisation. All suburbs are within arm’s reach of Newcastle’s CBD and foreshore, while Newcastle’s world class beaches are not far away. 
Of the residential property under development, apartment living is driving much of the demand
as old industrial sites are reclaimed for trendy 1- to 3-bedroom apartments suitable for today’s working professional. Current anecdotal evidence shows that these are selling quickly. 
Subsequently Newcastle is currently in the midst of an apartment building boom with large numbers of apartments due for completion throughout 2016 to 2017. What prices do over the next 12 months will largely be determined by supply and demand forces. 
With a population of approximately 160,000, Newcastle will continue to witness gentrification first hand and leverage off its Sydney big brother’s appetite for city-based apartment living. After all, Newcastle is only a two-and-a-half hour train ride from Sydney and perfect for those keen to avoid Sydney’s higher living costs, but who still yearn for that trendy skinny latte and swanky city-based lifestyle.
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As an example, a beachside one-bedroom apartment at <a href="https://www.realestate.com.au/property-apartment-nsw-newcastle-121630738">503/67 Watt Street Newcastle NSW 2300</a> with harbour views was sold for $445,000 by Raine &amp; Horne recently.
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Newcastle in midst of apartment boom as gentrification continues: HTW property clock

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Townsville in the north-eastern coast of Queensland was at the bottom of the market in Herron Todd White’s latest property clock, a simple broad brush means to indicate where property prices are and where they are going.
The HTW report also discusses gentrification in the area, which can help investors stay curve can prove profitable to property investors, say HTW.
Traditionally, the suburbs of Oonoonba and Garbutt bring images of older style timber-framed homes on traditional lots generally of a modest to average quality. 
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In 2012, a new infill land estate known as The Village commenced development in Oonoonba with another new infill land estate known as Haven recently commencing construction in Garbutt. 
While these developments are not gentrification in its purest form, they are changing the landscape of these suburbs.
Both these estates are within four kilometres of the CBD, making them locationally desirable and have a high concentration of small lot sizes. Due to the higher density of these estates, construction includes a mix of single and double-storey masonry block homes. Within The Village there have also been some small complex unit developments. 
The appeal of these developments is very much price point driven with entry in the high $200,000s to low $300,000s. The major benefit of this style of development is the ability to have a unit-sized home on a small low maintenance allotment close to the City and The Strand without the costs associated with body corporate fees. 
Predominantly small lot, higher density land estates are a relatively new concept in the Townsville marketplace and how these estates present in the long term is yet to be tested.
The median unit price at the end of 2015 was $434,000, according to RP Data. There was no matching data for houses.
<img src="/images/2016/03/29/main.jpg" alt="">
As an illustration, a three-bedroom apartment at <a href="https://www.realestate.com.au/property-apartment-qld-townsville+city-121323246">41/51 Stanley Street Townsville City</a> sold for $349,000 recently.
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Queensland's Townsville appeal lies in entry price point of new developments: HTW 

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A portfolio of commercial properties in Melbourne belonging to renowned architect Walter Pollock, a World War II survivor, are being offered for sale through a series of Fitzroys auctions.
The on-site auctions are as follows:
182-188 Clarendon Street, South Melbourne on May 5
- 341-345 Queensberry Street, North Melbourne (443 above) on May 6
- 59-61 Park Street, South Melbourne on May 12
The listing agents are James Gregson and Michael Ryan. 
The 182-188 Clarendon Street site is spread over nearly 420 sqm, features three street frontages and a 300 sqm retail freehold. It is being offered with significant short-term income. The Commercial 1-zoned property offers the potential to occupy, invest or development subject to councils approval (STCA).
“The site has a potential height limit of six stories or 23.5 metres with no set-backs, or up to 19.5 metres over circa five levels,” said Gregson.
The following day will see the corner site 341-345 Queensberry Street go under the hammer. On a land area of 370 sqm, it has three street frontages with improvements comprising a two-level freehold. 
“Offered with significant short-term income, the property is zoned Capital City and has excellent development upside (STCA) with a 40-metre height limit circa 13 levels, and located close to the University precinct,” Gregson said.
The 59-61 Park Street site is a 246 sqm corner retail/showroom investment on the corner of major arterial Kings Way and will be offered the following week.
It is on a lease term of three plus three years and returns $103,415 plus GST and outgoings, with potential for additional signage income (STCA).
Ryan said the property is zoned mixed use and has significant development upside (STCA), with an estimated 100,000-plus vehicles passing daily.
“The entire portfolio represents an ultra-rare opportunity to become part of Australia’s property and architecture history,” said Ryan.
Pollock was a revolutionary figure in Australia’s architecture industry throughout the 20th century. Born in Austria, Pollock and his brother were separated from their parents during World War II. Whilst en route to Canada, via ship, the vessel was struck by an enemy torpedo. Despite over 1,000 people drowning in the incident, Pollock survived and would eventually find himself in Australia in 1940.
In his final year as a student at Melbourne University he was chosen to join the nation’s architectural elite and collaborate on the design of Canberra’s Australian National University. Over time it would be two residential projects for his own family that would emerge as his best-known work, including his own hard-edged modernist family home at 193 Hawdon Street, Heidelberg and a decade later another for their own residence, at 1a Grong Grong Court. 
As his reputation for unique and ultra modern designs grew, Pollock’s clients, and subsequently his social circle, began to include industry and government elites and included the acting Prime Minister of Australia, the Governor General and government ministers. Later in life, Pollock turned his attention to environmental projects that led him to overseeing several large development projects in the Philippines. By the mid 1990s he was devoting much of his time to his hobbies, including designing and making jewellery.
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Architect Walter Pollock's commercial portfolio to go under the hammer

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Illawarra in NSW has seen reasonable growth in the past 12 to 18 months in all sectors and there is a sense in the market that it will continue, particularly in the below $600,000 section of the market, according to recent sales and agents’ advice, say Herron Todd White in their March property clock.
Affordable housing has had a blip from the lows of late 2011 to 2012 but there are few suburbs in the general Illawarra area where it is possible to get something in the sub $400,000 range.
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In the south, across the Shellharbour LGA there are some older houses under $450,000 but these are getting harder to come by as well. This is a big change from three years back when properties could be purchased for under $300,000. The postcode to look for here is 2529.
As usual it is always the lower end of the market that moves first and sees the better percentage increase in value. Never forget the low end of a market in the better located suburbs. You will generally be a clear winner when the whole market moves.
The mid range has remained strong during the past year and the $700,000 to $850,000 range has a bit more strength, depending on the suburb of course. This is the second home buyer’s sector and those who bought four years ago have seen some genuine increases, particularly around the northern beaches. Suburbs such as Figtree, Keiraville, Balgownie, Fairy Meadow, Corrimal, Woonona and Towradgi have experienced some good growth in values in this time. The postcode to look for here is 2519.
Above $900,000, the depth of buyers drops off, but there is still reasonable activity and some good strength. Over $1 million there are some good sales but it is generally thinly traded and tending to be harder to find bargains. The major influences in this sector are interstate investors and Sydney buyers looking for an upmarket house close to the beach but within commuting distance of Sydney. Bulli, Thirroul, Austinmer, Coledale and Stanwell Park are all attractive to this buyer sector.
Kiama and Minnamurra are also included in the southern parts of the region, with a good deal of holiday house buying pushing the market.
Let’s look at some of the good long term growth sectors in the Illawarra market.
In our view this lies in the lower ranges, affordable ($600,000 to 700,000) in a desirable location i.e. north or close to Wollongong CBD.
For units, we see CBD units close to the beach, university or hospital in the range of $350,000 to $450,000 as being a good bet for the future.
What offers the average buyer the best chance of growth over the medium term?
Pick up an older home in a good location....(close to Wollongong, Shellharbour or the beach) where the majority of the value is in the land... worst house in the best street etc. Don’t go for the new project home in a fringe location - remember that only the land increases over time, not the improvements – a tried and true adage in real estate. Forget about having all the mod cons when buying your first house – buy a shack on the best land you can. It will serve you well in the long term. Remember the 60/40 rule.
If someone called our office looking to spend a reasonable amount of money but didn’t want to sit on the property forever, we would direct them to inner suburbs close to employment centres, whether Wollongong, Shellharbour or Kiama LGAs.
The average buyer profile in this sector is mixed and includes investors and first home buyers, but increasingly we see small builders and amateur developers invading the market. 
Overall, the Illawarra property market has remained quite buoyant especially in the low and mid ranges, with the prestige markets tapering off. The outlook for the Illawarra property market appears to be in a steady but not spectacular growth mode. If interest rates rise there will be some fallout and values may ease. 
As an illustration, Property Observer found two examples of recent sales in the region:
 
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1. A four-bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-berry-121385030" target="_blank">4 Womack Close Berry NSW 2535</a> (above) sold for $710,000 recently.
<img src="/images/2016/03/23/main-3.jpg" alt="" width="677" height="508">
2. A two-bedroom apartment at <a href="https://www.realestate.com.au/property-apartment-nsw-fairy+meadow-121939174" target="_blank">3/138 Carters Lane Fairy Meadow NSW 2519</a> sold recently for $345,000.
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Illawarra likely to see growth in below $600,000 properties: HTW

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Australia climbed to number four while New Zealand was at second place in the latest global house price index for the last quarter of 2015 compiled by property consultancy Knight Frank, even as global outlook for 2016 remained muted in contrast to the previous year. 
The Global House Price Index monitors and compares the performance – rate of capital growth – of mainstream residential markets in 55 countries. The index rose by 3% in 2015, up from 2.3% in 2014. Concerns over the global economy in 2015 failed to dent buyer confidence; instead the lingering low interest rate environment influenced sentiment, it said.
The index, established in 2006, is compiled on a quarterly basis using official government statistics or central bank data where available. The index’s overall performance is weighted by GDP on a Purchasing Power Parity basis and the latest quarter’s data is provisional pending the release of all the countries’ results.
It allows investors and developers to monitor and compare the performance of mainstream residential markets around the world.
Australasia was the strongest-performing global region in 2015 at 12.4%, buoyed by the strong performance of New Zealand and Australia, both of which saw annual price growth in excess of 10%, said Knight Frank’s director, Residential Research, Australia, Michelle Ciesielski.
“Australia was ranked number four on the Global House Price Index for the fourth quarter of 2015, up from seventh in the previous quarter, with an annual growth rate of 10.7%. Turkey led the Global House Price Index, with growth of 18.4%," said Ciesielski.
“New Zealand followed directly behind Turkey, with an annual price growth of 14.2% as of the fourth quarter of 2015, bringing it to second place from third in the previous quarter."
“Housing affordability, or the lack of it, is rising up policymakers’ agendas worldwide. According to the latest data from the OECD, which measures house prices against incomes for 24 of its 34 members, Belgium, New Zealand and Canada are currently the world’s least affordable markets, whilst home ownership is most accessible in South Korea and Japan."
Australia is ranked at four among the least affordable, at 29% over-valued relative to the long-term average held, according to the OECD. 
“Our global outlook for 2016 is muted. We expect the index’s overall rate of growth to be weaker in 2016 than in 2015. The global economy is experiencing a potentially dangerous cocktail of low oil prices, a strong dollar and a continued slowdown in China,” said Kate Everett-Allen, partner, International Residential Research, Knight Frank.
Results for Q4 2015
* Forty-three of the 55 housing markets tracked in our Global House Price Index saw prices rise, up from 10 countries in the aftermath of the Lehman’s collapse in September 2008 (please see Figure 1 which compares the shift in global house prices starting from Q2 2008, the latest global house price index available at the time of Lehman’s collapse).
<a href="/images/2016/03/23/Screen%20Shot%202016-03-23%20at%209.34.53%20AM.png" target="_blank">Click here to enlarge.</a>
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* Turkey leads the rankings with prices rising 18% during 2015. Increasingly viewed as a safe haven for Middle Eastern investors, Turkey is bridging East and West whilst also seeing strong population growth.
* Belgium and New Zealand are the least affordable countries when house prices are compared to incomes.
* Ukraine and Greece were the weakest housing markets in 2015, recording price falls of 12% and 5% respectively.
“2015 saw Asian mainstream residential markets record only 1.9% annual price growth, lower than the global average of 3%. While a number of markets experienced positive growth, Taiwan and Singapore, which have seen negative growth for a number of quarters, were joined by Hong Kong this quarter, which saw its residential market decline by 3.7% in Q4 2015," said Nicholas Holt, head of Research for Asia Pacific.
“While long-term growth prospects remain positive, the continued economic uncertainty in the region is likely to weigh on housing market sentiment in the near term.”
Added Everett-Allen, “Although house prices in Hong Kong increased in 2015, the rate of growth has slowed significantly from 17% in the year to September to 7% in the year to December 2015. The slower rate of growth is attributable to rising supply (more than 11,200 homes were completed in 2015), as well as China’s financial market volatility and the expectation of increasing interest rates.”
Data from China’s National Bureau of Statistics showed house prices rose marginally in 2015 (0.4%), having reached their peak in the first quarter of 2014. Cities such as Shenzhen and Shanghai continue to outperform the national average due in part to favourable government policies and strong demand in first-tier cities.
 
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Australasia is strongest-performing region in Knight Frank's Global House Price Index

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The debate around 'bad development' in Brisbane just got a new counterpoint. 
#yimbyqld – Yes, in my back yard Queensland – has been created to highlight the many benefits that good, innovative and well-planned developments bring to modern cities.
Brisbane property consultancy Wolter Consulting Group is spearheading the initiative, to bring back some balance to the development debate, after concerns that “good development” was being unfairly tarnished.
Wolter's director and planning manager, Natalie Rayment, said Brisbane had a track record of outstanding developments from successive Brisbane City Council administrations, including the Gasworks precinct at Newstead, the Urban renewal precinct at New Farm and Teneriffe and Waterline at Bulimba.
“Development is anything but adhoc. It is driven by the City Plan, a document prepared in conjunction with the people of Brisbane,” Rayment said.
“Residents were given double the usual period of time to comment on the City Plan to ensure the best outcome was achieved. The City Plan sets the direction of development in Brisbane for the next decade.
“It is misinformed to say that developers get to do what they like unchecked. The fact of the matter is there is an extremely rigorous system in place that takes into account every aspect of development as well as future planning."
She added that Brisbane City Council is one of the toughest to deal with for development, with anywhere from three to 12 months needed for an approval. Even a basic code assessable application involves detailed assessment against multiple land use, development and constraint codes examining anything from land use to landscaping, design to acoustics, traffic to engineering and much much more.
The debate around development -- always a political topic -- has gathered steam ahead of the Council elections on March 19.
The “yimby” concept has its origins from New York City as an initiative to discuss, document and promote good development against the negative “nimby” (not in my back yard) viewpoint often encountered by developers in big cities.
Rayment said we had not only come to enjoy but expect the benefits of good development, including exciting lifestyle precincts with vibrant public spaces.
“Residents want good interactive public spaces, public artworks, green spaces, environmental excellence, contemporary and innovative design and the housing options and jobs they create,” Rayment said.
“Unfortunately new developments are quite often faced with negativity and the ‘not in my back yard’ brigade. We want to create #yimbyqld to get factual information out there on cutting edge, good developments to encourage debate with an open mind.”
Rayment said recent and proposed developments including the Howard Smith Wharves, Queen’s Wharf, South City Square at Woolloongabba and West Village in West End were examples of good development the people of Brisbane could be excited by.
“Let’s not forget the places we live and play in have been produced by good development,” she said.
“There are many benefits that have flowed from that – including cycle ways, parks, footpath dining and even the recent focus on vibrant laneways and roof-top spaces.
“Our aim is to generate balance in the development debate and start an intelligent, grown-up discussion on what makes a good development,” she concluded.
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Why development in Queensland is a great thing: a property consultant's take

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Port Macquarie (postcode 2444), the coastal town north of Sydney, saw median rent drop more than 5.13% to $370 per week for all rental properties advertised in the 30 days up to the first week of February, according to rent.com.au.
The coastal town still made it to the top five of the most-searched regional locations list compiled by <a href="https://rent.com.au" target="_blank">rent.com.au</a>, and was also more affordable in terms of renting compared with surrounding suburbs. 
The median rent of surrounding suburbs Fernbank Creek, North Shore, Riverside, Thruster and Lake Innes was $395 per week for the quarter ended September, though there was no data available for the previous 90 days.
The lowest rental for the 30 days was $190 per week for a one-bedroom dwelling, while the maximum was $800 for a five-bedroom place.
The average days on market for all rental properties advertised in Port Macquarie in 90 days till February 8 was 29 days, five days less than the previous quarter. 
There were a total of 130 rental properties advertised in Port Macquarie within the above-mentioned 30 days, up 39 from the previous 30 days. Of the 130, there were 77 houses and 53 apartments.
There are a total of 4,949 rental properties in Port Macquarie, which is 30% of all properties there (ABS, Census Data, 2011). 
Houses make up an overwhelming majority (84.9%) of Port Macquarie, with only 15.1% apartments, according to ABS data. 
Property Observer found a couple of dwellings as examples around the median price range:
<img src="/images/2016/03/23/w640-h393-8875477_1_pi_160302_044341.jpeg" alt="">
A three-bedroom house at <a href="https://www.rent.com.au/property-house-port+macquarie-2444-1694744" target="_blank" style="line-height: 1.3em;">96 Koala Street</a> (above) has a rent of $400 pw.
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A three-bedroom unit at <a href="https://www.rent.com.au/property-unit-port+macquarie-2444-1686644" target="_blank" style="line-height: 1.3em;">4/131 Bridge Street</a> (above) is available for $380 pw.
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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Port Macquarie median rent down five percent in 30 days, among the top five most searched suburbs: rent.com.au

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A new masterplanned community in Botany, <a href="https://www.frasersproperty.com.au/SMP/NSW/Tailors-Walk/Botany" target="_blank">Tailor’s Walk</a>, which was launched in December, has drawn good response showing robust demand for terrace homes.
Developed by Frasers Property Australia, 48 of the 173 properties offered in the first release were snapped up quickly, with seven of the initial 18 terrace homes offered sold at prices ranging from $1,600,000 to $1,660,000.
Prices at Tailor’s Walk start at $600,000 for the one-bedroom apartments, $790,000 for the two-bedroom apartments, $1,065,000 for the three-bedroom apartments, and $1,600,000 for the four-bedroom terrace homes.
The terraces within this release all span three levels, in four-bedroom configurations, and all have open-plan layouts.
“Each terrace home has been designed to maximise space and capture natural light via the two storey light well. This was definitely a strong selling point among the many interested buyers,” said Dino Carulli, sales and marketing director, Frasers Property Australia.
Designed by GroupGSA, the terrace homes include storage and basement parking, two bathrooms plus powder room, a second living area with double height ceilings, range in size from 232 – 237sqm and have direct access to private landscaped gardens.
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Botany development Tailor's Walk draws good response

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The coastal city of Hervey Bay in Queensland is a rising market and expected to deliver steady market conditions for residential property in 2016, according to Herron Todd White's property clock for March, which also discusses gentrification. 
Staying ahead of the gentrification curve can prove profitable to property investors, say HTW.  
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The year ahead will see stable supply and demand across the region. Sub $300,000 stock is predicted to firm with the lack of housing in this price range and improved rental returns driving prices slightly higher. The move towards smaller lots sizes (in the range of 350 square metres to 500 square metres) is now encouraged by Council with many new estates currently being developed adopting this higher density format.
Unit development is considered to be imminent in the short to medium term, with very little new stock being offered to the market after absorption of an oversupply of units. The most popular unit style which has shown to be well received by buyers in recent times is the villa and townhouse unit, as opposed to high rise development.
Building activity has significantly increased over the past six to twelve months in Hervey Bay. There are currently over eight new estates being developed, mainly next stages of existing estates, with some new estates. 
Suburbs of Urangan, Wondunna, Kawungan, Urraween and Pialba have absorbed most of this activity, with many developers selling their proposed turn-key dwellings off the plan to southern interstate investors. Prices range between $330,000 and $400,000 for most properties, with the majority of lot sizes between 350 and 700 square metres. 
Features typically encompass an above average standard and include stone bench tops, split system air-conditioning and landscaping. Higher density living with smaller lot sizes (up to 500 square metres) is now accepted (and perhaps encouraged) by local council and has been well received by the market. 
The Hervey Bay Housing Affordability Project is an initiative by Council and Federal Government which offers $12,000 grants for new land or new house and land packages. The incentive is reported to expire on June 30, 2016 which could result in a slowing of sales to first buyers. It is hoped the project may be extended to stimulate economic growth and support local employment in the construction industry.
The prestige property market has improved over the past 12 months with more sales in the higher price range (above $700,000) than previous years. While property prices are not considered to rise in this market in the short term, sales are expected to continue at this rate with more medical staff moving to the area due to a new private hospital and supporting medical industries. There is currently an abundance of higher priced stock on the market and vendors have to be flexible in order to finalise a sale.  
The steady rise in rental return over the past eighteen months has been stimulated by the ongoing influx of personnel for the new medical facilities in Urraween. A tenant can now expect to pay between $360 and $440 for a new four-bedroom, two-bathroom dwelling with double lock-up garage.
To date, there has been no significant rise in values for older existing stock, however, higher priced property up to $700,000 has been selling within shorter selling periods. The absorption of excess unit stock has now concluded, with new unit development foreseeable and welcomed in the near future.  
To illustrate the point, here's an example picked by Property Observer.
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A three-bedroom apartment at <a href="https://www.realestate.com.au/property-unit-qld-urangan-120379417" target="_blank">506/569 Charlton Esplanade Urangan</a> sold recently for $470,000.
 
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Hervey Bay is a rising market: HTW

<a href="https://www.apartments.com.au/developments/broadbeach-qld-4218">Broadbeach</a> offers plenty of reasons to live vertically, but moving from a substantial family home into an apartment can expose the compromises of high-density living. Privacy, room for guests and usable living space tend to matter more when an apartment is intended as a permanent home rather than an occasional coastal base.

A typical residential floor at <a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a>, on Surf Parade,&nbsp;contains just four apartments. The 94-residence development by <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> is predominantly made up of expansive three-bedroom homes, with a limited collection of half-floor penthouses above.

Across the apartment floors, <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has used the relatively limited number of residences to give each home greater access to natural light and outlook. Living spaces extend towards full-height glazing, while a series of bay windows frame selected views across the Pacific Ocean, city and hinterland rather than treating the building edge as a continuous wall of glass.

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“The apartment floors deliver a collection of homes that embrace controlled outlook via a series of bay windows deliberately framing moments of view,” Rothelowman Director Kim Lowman said.

From outside, those projecting forms contribute to the tower’s faceted profile. Strong horizontal and vertical elements establish its proportions, while the changing position of the sun alters the light, shadow and reflection across the façade throughout the day.

The same attention moves inside the apartments, where the material palette combines warm timber, natural stone, metallic detailing and softer curved forms. Kitchens sit within the main living zone, with stone island benches, integrated joinery and European appliances, before the living areas extend towards the glazing and the outlook.

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Three genuine bedrooms provide room to accommodate family and guests, while two secure car spaces and storage address some of the practical considerations that can become more noticeable when moving from a larger home. Feedback from the display suite has centred on the warmth and restraint of the interiors, with buyers commenting that the residences feel like homes rather than conventional coastal apartments.

A limited collection of half-floor penthouses occupies the upper levels, increasing the scale of the living spaces and adding private balconies and elevated finishes. From this position, the outlook extends between the ocean and hinterland.

Outside the private residences, The Eveleigh separates its shared spaces between the podium and rooftop. The podium is centred on wellness, with subtropical landscaping surrounding a swimming pool and pool terrace, yoga garden, private gymnasium, sauna and hot and cold plunge facilities. Landscaped retreats and pavilions provide additional places to sit away from the main recreation areas.

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Higher in the building, a rooftop pavilion and private dining suite sit alongside resident lounge, barbecue and outdoor dining areas, opening towards panoramic views across the ocean, city and hinterland.

“Buyers are no longer just looking for an apartment, but a lifestyle where they can relax, reset, and enjoy a balanced way of living,” Hirsch &amp; Faigen Director of Sales Matt George said.

Interest to date has come from established owner-occupiers and interstate lifestyle purchasers, including buyers planning a future move to the Gold Coast. Many are coming from larger homes and want to reduce ongoing maintenance without giving up space for family and guests, privacy, two car spaces or the ability to entertain at home.

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Much of that daily life can also take place beyond the building without requiring a drive. Kurrawa Beach and Pratten Park are an easy walk from Surf Parade, while Pacific Fair, Oracle Boulevard, The Oasis, restaurants, cafés, entertainment and public transport are also within walking distance.

The Eveleigh is Hirsch &amp; Faigen's fourth Gold Coast development since entering the market in 2021, following The Hemingway at Palm Beach, The Emerson at Kirra and Yves at Mermaid Beach. Each of the preceding projects sold out before completion.

“Broadbeach had been on our radar throughout our time operating on the Gold Coast,” the developer said. “Following our projects in Palm Beach, Kirra and Mermaid Beach, Broadbeach represented the natural next step for the business.”

The Surf Parade site brought together proximity to the beach, protected coastal outlooks and walkability to dining, shopping and recreation. Hirsch &amp; Faigen also identified the street as an emerging premium residential address, with enough separation from Broadbeach's busier destinations to retain a quieter environment at home.

The Eveleigh is now under construction by Maxcon, with completion forecast for mid-2028. Three-bedroom residences are currently available from $2.87 million.

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Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

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.

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.

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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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Prateek Chatterjee

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