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The retail market in Sydney in 2016 is set to follow last year’s growth trend, with increased demand from investors continuing to drive the market, according to Herron Todd White’s retail outlook.
Properties with established retail tenants will be popular this year, particularly if the share market continues its downward trend, it says.
CBD and prime retail locations are still going strong with several transactions at sub 5% yields in the last half of 2015. The anticipation of changes to the CBD such as the light rail and George Street closure have investors looking to the CBD for returns and capital growth. This demand is likely to continue, according to them.
Rents are likely to remain stable in 2106 with evidence that an increase in prime locations is probable. 
Areas to watch are strong suburban strips that have embraced change. A good example is Oxford Street, Paddington which has been plagued by high vacancy rates and extended selling periods. While some pockets of fashion remain along this once popular strip, change is becoming evident with restaurants, wine bars and cafes now the focus. 
The main area for concern in the retail market is suburban strata lots. The increase in mixed-use development across the Sydney metro area has increased supply. Most of these are offered to the market on a vacant possession basis and therefore lack appeal for investors. Last year saw increased vacancy rates in some of the areas where this type of development is concentrated. 
This year does not look any better for this asset type, with more development occurring and little increase in demand, say HTW.
Bulky goods also remain a focus in Sydney with new residential subdivisions in the south-west, west and north-west of Sydney driving demand. 
The impact of the recent announcement that Woolworths will be selling or winding up the Masters Home Improvement chain is yet to be seen but may bring bulky goods under scrutiny. 
Overall the outlook for retail is positive with 2016 looking to be a year of further growth in capital values and rentals, particularly among the prime locations where investors are most active.
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Sydney's retail market set to continue 2015 growth trend: HTW

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In proposing reforms to negative gearing structures, any government should take a long-term view and classify ‘new’ stock as any property up to 10 years old and not pull the rug from under the feet of investors abruptly because of economic implications, according to property research and investment firm Aviate Group. 
“Those looking to abolish negative gearing, as well as those whom support this, need to perhaps be reminded as to what it is that investors bring to the table. Not just in terms of providing rental stock to areas that may really need it, but also for the economy at large,” said Aviate managing director Neil Smoli.
Investors’ focus on wealth creation through property stimulates the economy, creates jobs and fosters a more self-sufficient population which has the knock-on effect of alleviating the burden of social housing and dependence on aged care facilities by an ageing population, added Smoli.
“Investors make a strong and undeniable contribution to housing options by way of rental stock. This provides direct housing options for those that do not have the means or have not yet sought the right advice that would allow them to enter the property market.”
There also hasn’t been near enough debate, or thought, says Smoli, of the definition of ‘new’ property stock when it comes to the proposed reforms, which are being weighted not just by the Opposition, but also by the Nationals, albeit under a varied model.
 “Applying negative gearing reforms that apply to all newly built properties in terms of their physical construction and occupation could have a knock-on effect whereby investors may ‘short-sell’ or ‘flip’ these properties in order to maximise their financial benefits,” he said.
“If it is to be successful, any well considered policy surrounding negative gearing should also take into account how long a property is, or has been, held by an investor.
“There has to be some kind of incentive for investors to take the universally respected view that property investment is most optimal when a long term view is held, rather than a short term hold to turn a quick profit by selling when a market is at its cyclical peak.”
In addition to rewarding investors that hold onto their new properties for longer, Smoli says, there should also be a period of at least a year before any successful changes to negative gearing policy are implemented.
A property should be viewed as ‘new’ when it is up to 10 years old to minimise any potential fallout or exodus from the marketplace. 
“It typically takes five to six years for an investment property to become neutral, that is, for the rent received to balance the interest payable. This is influenced by the interest rate of the day, the net rental income received after costs such as management fees, letting fees, body corporate fees and outgoings are taken into account, the investor’s marginal tax rate as well as depreciation allowances,” he said.
“A timeline of this duration for the investor to be able to use negative gearing seems logical and fair.”
Additionally, whatever changes are implemented in the context of property and associated negative gearing, the same should apply to shares and the equities market to ensure all asset classes are on an even playing field. 
Stamp duty: another opportunity for reform
In addition to possible negative gearing policy reform, Smoli also believes there are other opportunities for reform that could create a fairer balance for the property industry’s many stakeholders, particularly as the rampant transactional activity of recent years has softened in recent months.
At the top of the list is stamp duty, according to him.
“Most industry professionals seem to be in agreement that stamp duty should be phased out without delay. However in the absence of its complete abolition, the market should at least be able to rely on some national consistency when it comes to the application of this tax,” Smoli said.
“Let’s not forget we were promised an end to stamp duty when the GST was introduced. It’s clear that state governments are addicted to the revenue, but the economic benefits of abolishing stamp duty in terms of transactional activity, not to mention the fact it would relieve a significant burden for first home buyers, warrants genuine consideration at the Federal level.
“Failing this, perhaps it is time to look at more effective stamp duty models and, more importantly, introduce some national consistency as to how the tax is applied,” Smoli said.
He pointed to the implementation of a sliding scale, whereby the stamp duty payable depends on the phase in the construction cycle that the dwelling is at when the purchase is made, could be considered as the basis for a national model. 
“A fairer system, which has been used in some states including Victoria and South Australia, could be based on the principle that the earlier in the construction phase a dwelling is, the less stamp duty should be payable by the purchaser on that property,” Smoli said..
“In this way, those who purchase a property off-the-plan or early in the construction phase are rewarded for that early purchase, creating heightened demand for new supply and supporting the broader market.
“It makes sense to lessen the burden on buyers of off-the-plan properties, as these buyers are directly contributing to demand for new housing construction.
“A nationally consistent approach to stamp duty would also make it easier for investors to purchase properties outside their own state, fuelling demand on a broader scale. 
“Like the conversation happening around negative gearing at the moment, so should the industry seek to elevate the issue of stamp duty. Until its abolition comes to fruition, and the promise of many years ago is finally upheld, the more alternatives we consider as an industry the better,” he said.
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Negative gearing changes need long-term approach: Aviate Group MD

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Chinese investment in Australia’s real estate market has not declined despite fears that the RMB’s devaluation and stock market crisis there would impact outbound investment, and the trend is expected to continue, according to a Knight Frank report.
Chinese investor — big and small — appetite for overseas real estate was also supported by the growing need for diversification from the Chinese market, says the report. 
The China-Australia Free Trade Agreement, the Qualified Domestic Individual Investor or QDII schemes are expected to drive more Chinese investment in the Australian property market, says Knight Frank’s second global China Outbound Real Estate Investment report: New Waves, New Destinations. 
Sydney and Melbourne alone attracted a total of US$3.8 billion in Chinese investment in 2015, next only to Manhattan, New York at US$5.78 billion. 
<a href="/images/2016/02/24/Screen%20Shot%202016-02-24%20at%208.44.56%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/02/24/Screen%20Shot%202016-02-24%20at%208.44.56%20AM.png" alt="">
Total Chinese outbound capital doubled to nearly US$30 billion in 2015 from 2014, according to the report.
“Investor interest in Australia, particularly in Sydney, has not diminished as many had feared – even after the latest RMB devaluation and with demand for natural resources weakening,” said Knight Frank’s head of Research &amp; Consulting, Australia, Matt Whitby.
“Australian prices, coupled with strong Chinese buying power and continued weakness in the Australian dollar, has continued to attract capital inflow.”
Chinese investment into the Sydney and Melbourne markets skyrocketed in the from 2010-2015 period, added Knight Frank’s head of Asian Markets, Australia, Dominic Ong. 
“Given the level of growth that we have experienced over the past five years, we anticipate that the outflow of Chinese investment into Australia will remain at steady and strong levels but it will be difficult to beat 2015,” he said. 
CIC’s purchase of the Investa Portfolio for $2.45 billion was the biggest deal that boosted the figure last year, he added.
According to Ong, Chinese investment activity will be concentrated on development sites and office investments, focusing on prime product in the Sydney and Melbourne markets. 
He predicted some growth in 2016, but potentially not levels as high as Australia has seen in the last few years.
“I expect demand will be strong for the next three to five years, but what might affect the transaction volume will be supply – the lack of available prime stock available in the best locations,” said Ong.
 
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Chinese to continue investing in Australian real estate in 2016: Knight Frank

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A Chinese group has bagged a 1,441 sqm South Melbourne mixed-use development site for $15.07 million, more than $5 million above what the vendor paid only three years prior.
The <a href="https://www.realcommercial.com.au/property-land+development-vic-south+melbourne-501758938" target="_blank">41-49 Bank Street</a> site was sold through an international CBRE expressions of interest campaign.
The agents said the EOI campaign attracted interest from both offshore developers and prominent local groups.
“We anticipate continued strong demand from Chinese developers throughout 2016, irrespective of current concerns with the Chinese stock market, which will drive positive outcomes including jobs in construction, planning and design,” CBRE suggested. 
The site has permit approval for a 16 level mixed-use development, with existing permitted height above current planning parameters. It offers dual street frontage totaling more than 60 metres. 
The location is close to Melbourne's arts, sporting and entertainment precincts.
Julian White, associate director of CBRE’s Victorian Development Sites team, said the continued prominence of Chinese buyers was encouraging, particularly for Melbourne’s accommodation sector.
“Apartment living is the way of the future in Melbourne. The continued high absorption rates of CBD and inner city apartments are a clear sign that the market needs to continue to build more apartments, not slow down development.”
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Chinese developer banks $15 million development site in Melbourne

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Wollongong, NSW’s third-largest city (postcode 2500), was among the top searched suburbs in 2015 on rent.com.au, with median rental for advertised properties in the last 30 days at $400 per week.
The rental was $10 lower than the previous quarter, says the report.
The lowest rent in the last 30 days was $200 for a one-bedroom dwelling, while the highest was $700 for a four-bedroom one.
<a href="/images/2016/03/2/Screen%20Shot%202016-03-02%20at%2011.33.34%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/2/Screen%20Shot%202016-03-02%20at%2011.33.34%20AM.png" alt="">
Though the median rent fell, the average days on the market in the last 90 days at 23 improved by nine days over the previous quarter.
This was also a day less than the surrounding suburbs of Coniston, Gwynneville, Mangerton, North Wollongong, Port Kembla and West Wollongong. However, Wollongong’s neighbourhood is cheaper, with the median rent in the last 30 days being $365, the report shows.
<a href="/images/2016/03/2/Screen%20Shot%202016-03-02%20at%2011.31.35%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/2/Screen%20Shot%202016-03-02%20at%2011.31.35%20AM.png" alt="">
 
 
The trend in Wollongong for the last six months (see graph) also shows that the median rental per week for houses climbed from $400 in August ’15 to $550 in December before dropping sharply to $430 in January. For apartments, it fluctuated little with gradual rises or falls.
The number of rental properties advertised in the last 30 days was 125, up 35 from the previous 30 days.
<a href="/images/2016/03/2/Screen%20Shot%202016-03-02%20at%2011.35.34%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/2/Screen%20Shot%202016-03-02%20at%2011.35.34%20AM.png" alt="">
Wollongong has a total of 4,090 rental properties, making up 56% of all properties in the city, according to ABS 2011 data. 
The city’s property composition shows 69.2 percent apartments and 30.8 houses.
Property Observer found these two recent dwellings advertised on rent.com.au: 
<img src="/images/2016/02/23/gong1.jpg" alt="" width="486" height="400">
1. A refurbished two-bedroom apartment at <a href="https://www.rent.com.au/property-unit-wollongong-2500-1664724" target="_blank">5/35-37 Corrimal Street</a> (above) is up for rent at $380 per week. 
2. A fully furnished two-bedroom apartment at <a href="https://www.rent.com.au/property-apartment-wollongong-2500-1679764" target="_blank">21-23 Bligh Street</a> (below) can be rented for $430 per week.
<img src="/images/2016/02/23/Screen%20Shot%202016-02-23%20at%209.26.33%20AM.png" alt="" width="682" height="520">
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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Wollongong captures rental attention on Australia's most searched suburbs: rent.com.au

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A new housing community in Melbourne’s south-east suburb of Lyndhurst that reduces mains drinking water usage by about 70 percent is set for launch.
Aquarevo, a 460-home community, aims to maximise water efficiency through greater use of recycled and rainwater and the developers claim it will become Australia’s most water efficient large-scale housing development.
Aquarevo is a collaboration between South East Water and Villawood Properties.
The project will be developed on the site of a decommissioned South East Water purification plant. Rather than simply sell it off, the Victorian government utility saw an opportunity to develop and showcase water sustainability technologies within a residential setting. 
South East Water went to the market for a development partner to help achieve its vision, and agreed to join hands with Villawood Properties.
Key water innovations at Aquarevo include:
*  a rainwater tank in each home that directly supplies hot water service for all non-drinking household uses;
* Tank Talk, a rainwater management technology that uses weather forecast data to optimise water storage and reduce stormwater run-off;
* OneBox, a pressure sewerage network technology that transfers waste based on network volumes, requiring smaller pipes and less excavation; and
* an onsite treatment plant, which supplies the development with Class A recycled water, suitable for washing machines, toilets and outdoor use
Sustainability features extend to rooftop solar installations on each home, aiming for 100 per cent renewable energy.
Aquarevo is located in the City of Casey, and is close to schools, shopping centre, medical centre and railway station.
The first blocks of land in the Aquarevo community will be offered to the public in April 2016.
“South East Water is committed to providing innovative and sustainable water solutions to its customers,” said its managing director Kevin Hutchings. “This exciting new development sets a new standard in water sustainability for Australian communities, and will deliver significant sustainability benefits to Aquarevo residents.”
Aquarevo will be displayed at Melbourne’s Sustainable Living Festival at Federation Square from February 12-14.
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Aquarevo housing project in Melbourne aims to conserve water by 70 percent

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A telecommunications facility in the Gold Coast and leased to Vodafone is up for auction by Burgess Rawson on February 23 in Sydney.
The <a href="https://www.burgessrawson.com.au/buying/QLD/Gold-Coast/Arundel/Office/4P0195#.Vshsl8eO7ow" target="_blank">15 Telford Place, Arundel</a> property, just 7 km from the Southport CBD, is one of three Vodafone high-tech facilities in Queensland. 
The company has been occupying the property for 15 years and is on a renewed and secure 10-year net lease to June 2025 with the option to extend to 2035.
The site area measures 2,738 sqm with lettable area of 2,038 sqm.
The property makes a net income of $430,000 pa plus GST (increasing to $445,050 pa plus GST in June 2016). The annual increases are 3.5% until 2020 and 3.25% until 2024 and the tenant pays all outgoings, including Land Tax.
Gold Coast will host the 2018 Commonwealth Games and more than $13.5 billion in infrastructure projects are planned or underway.
The selling agents are Michael Collins and Dean Venturato.
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Telecommunications facility in Gold Coast leased to Vodafone up for auction

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The rise of alternate funding may be the next big thing in developer financing following APRA's tightening oversight of banks, if we are to interpret recent commentary by Daniel Holden, director of construction finance group Holden Capital.
The pressure on major banks to meet capital adequacy levels under the Basil III accord has reduced their appetite for construction lending, says Holden in one of his posts. To achieve their objectives, banks have raised the bar for developers in terms of their pre-conditions, cut gearing levels and increased their pricing on debt, effectively implementing a flight to quality and leaving many of the their traditional but more marginal clients in terms of credit strength, looking for alternative funding sources, he says.
Record low interest rates have come as a boon then, encouraging developers to shift to alternate funding.
In FY15, Holden Capital settled 64% of its deals with the major banks but this quickly changed with 62% of the $300 million of project debt settling before Christmas likely to be set with alternative funding sources, a pre-Christmas post said.
While alternative funding sources may have some additional costs, they also come with distinct benefits to developers who do not want to be restricted in their ability to look for market opportunities due to constraints placed by traditional banks.
As an example, non-bank money can cost as low as 9-10% per annum, which when compared to the traditional bank cost on a medium sized projects of say 30 products, would add as little as $170,000 or 10% variance on normal finance costs to a project with a total cost of $6 million.
Alternative funding also offers a developer the potential for significant savings in other areas such as the chance to start the project without the need for pre-sales, unlike when approaching banks. The developer can lock in a construction price and reduce escalation risk as well as sell houses with a more certain delivery date, rather than the more speculative off the plan route required to meet banks' pre-sale criteria, Holden adds.
According to a case study by Holden Capital, bank and non-bank lenders have different requirements regarding loan ratios. Most non-bank lenders are so called gross realisation (GR) lenders and the main criterion for them is a loan to value ratio (LVR) of no more than 65%. Banks also require a maximum LVR of 65%, but in addition they impose a limit of no more than 80% of the total development cost (TDC).
The bank option benefits from a significantly lower total interest cost, but the non-bank alternative does not require the delay of between 3-6 months associated with the pre-sales requirement and benefits from a lower requirement on developer equity with the potential for a significantly increased return on investment.
Holden has also summarised the kind of developers best placed to succeed in this environment.
The 'Phoenix' developer, who were successful pre-GFC but rapidly declined during the GFC due to unfortunate dealings with their creditors but are now rising again Phoenix-like. Typically this type of developer is very experienced, but misjudged the state of the market and their level of exposure to it during the GFC, he says. Now they are back out there, wiser from experience and unlikely to make the same mistakes. They are more conservative with their own limited capital and looking for equity partners to leverage their position. Holden predicts that the 'Phoenix' developers will most likely be successful in the coming years.
The other is the cautious developer, who identifies risk upfront and finds ways to mitigate these as much as possible. They also realise that they don’t know everything, and won’t hesitate to utilise the skills of others, where there is a gap in their knowledge and skills base. In reality, they are the 'Smart Developer', he concludes.
According to Holden, Australia has a deep market of passive investors willing to take equity positions on development projects. In conclusion, developers could achieve much more if they use the right consultants and redirect their energy and time into enhancing their core skill sets, which would reflect in long-term success.
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Non-bank financing may be a paradigm shift in construction lending

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News Corp Australia has partnered with property website realcommercial.com.au for a new premium multi-platform advertising solution for commercial property clients. 
Combining the audience of <a href="https://realcommercial.com.au/" target="_blank">realcommercial.com.au</a> with the reach of News Corp Australia mastheads including The Australian, Herald Sun, The Courier-Mail and digital edition of The Wall Street Journal, commercial property advertisers can now expect to reach up to 9 million people both in Australia and internationally.
“This is the first time News Corp Australia has partnered with realcommercial.com.au and the first time we have bundled one of our international mastheads into the mix,” said The Australian general manager-sales Rachel Savio. 
“2016 is set to be an active year for commercial property investment in Australia with increasingly more interest from overseas investors. According to real estate firm CBRE a total of $28.4 billion of commercial property encompassing office, industrial and retail, was sold last year in Australia.”
Commenting on the partnership, realcommercial.com.au’s executive general manager Joseph Lyons said, “This partnership brings together the power of realcommercial.com.au, News Corp Australia’s mastheads, and The Wall Street Journal Asia to help our clients reach potential buyers and tenants in Australia and internationally.
“We are seeing increasing interest in commercial property from interstate and overseas buyers and this multi-platform bundle will offer customers more reach than they have ever before had access to in one package. The opportunity speaks for itself with an audience of up to nine million people.”
 
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News Corp Australia partners realcommercial.com.au for commercial real estate listings

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Queensland’s Toowoomba, Australia’s second largest inland city, has been identified by McGrath Estate Agents chief executive John McGrath as an important growth area.
“Toowoomba is an area that has all the hallmarks for growth," McGrath said, indicating his confidence in the South East Queensland property market.  
"We believe its strong focus and investment on infrastructure, retail, and lifestyle precincts will have an impact on both interstate migration and employment opportunities.  The relatively new airport is having a positive effect on the accessibility of the region, both domestically and into Asian markets. 
“With a median house price of $350,000, the affordability of housing will not only be attractive to treechangers and downsizers but also to the investor market, as major construction is currently underway on several multi-million dollar projects."
The median house price was $364,000 towards the end of 2015, according to RP Data, while for units it was $256,000.
Major projects include the $1.6 billion Toowoomba Second Range Crossing and the $500 million Grand Central Shopping Centre.   
The transformation of Toowoomba Parkland’s Railway Precinct into an urban village and parkland is also ready to begin, with the Toowoomba Regional Council expecting up to 3,300 jobs during construction and a further 1,800 jobs in retail and service industries.
Toby Sandell, principal of McGrath Toowoomba, echoed the same confidence.
“We have seen fewer investors due to the tightening of lending criteria by the banks, however on the flipside, there are more and more first home buyers and upgraders, taking advantage of affordable buying and lower interest rates. There is good demand for quality properties in the right areas.”
Sandell said that younger families have been targeting South Toowoomba and Centenary Heights due to proximity to the shops and schools, with homes selling in the $350,000 to $500,000 range. 
At the higher end, East Toowoomba and Rangeville fetch $500,000 to $800,000.
The dwelling composition of the city was made up of about 81% houses and 12.5% for apartments, while the semi-detached or terraced townhouses made up the rest, RP Data showed.
The population of Toowoomba was 99,482, according to the last ABS Census. 
The city also remains a hotspot for residential property investors, according to valuation firm Herron Todd White's recent report.
Unit construction is on at a rapid pace, adds HTW.
Last year, Property Observer had also reported on Toowoomba topping Queensland's property market recovery.
Author and blogger Pete Wargent has also spoke about Toowoomba's success story.
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McGrath earmarks Toowoomba for growth

<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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[smartcode_project:default project_id=149670 project_image_fid=360965]

“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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[smartcode_project:default project_id=149670 project_image_fid=360981]

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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[smartcode_project:default project_id=149670 project_image_fid=360966]

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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[smartcode_project:default project_id=149670 project_image_fid=360969]

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.

[smartcode_project_cta:default project_id=149670]

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.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

&nbsp;

[smartcode_project_cta:default project_id=152737]

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Prateek Chatterjee

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