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Renovations are a national pastime with property owners looking to improve and add value to their properties.
There are more tips and resources freely available than ever before, such as these <a target="_blank" href="https://www.propertyobserver.com.au/renovating/the-10-best-diy-renovation-tips-from-the-experts/2013062662548">top ten expert tips</a>.
 
<img alt="poll-results-sept-9" height="318" width="470" src="/images/stories/2013/09/09/poll-results-sept-9.jpg">
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Which room do you think delivers the most profit when renovated?

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When it comes to your financial success and paying down debt, there's often talk of tips, tricks and unheard of techniques.
But really, it's mainly a numbers game, and it's all to do with your approach.
 
<a target="_blank" href="https://twitter.com/BudgetDude"><img alt="TWEETOFTHEDAY" height="176" width="470" src="/images/stories/2013/09/05/TWEETOFTHEDAY.png"></a>
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It's all in the numbers

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Hotspotting, or finding the best suburb in which to purchase an investment, is a crucial skill of every property investor. With the market heating up, it's only natural that competition in finding these locations has started to skyrocket.
A couple of weeks back, <a target="_blank" href="https://www.propertyobserver.com.au/hotspots/rich-harvey-s-top-ways-to-find-a-hotspot/2013090364762">we spoke with Rich Harvey</a>, managing director of independent buyer’s agency <a target="_blank" href="https://www.propertybuyer.com.au/" rel="nofollow">propertybuyer.com.au</a>.
Harvey is a licensed real estate buyer’s agent, experienced property investor and professional economist. The propertybuyer.com.au team has purchased over 1,100 properties in total.
Here are some questions he asks:
<ul style="font-size: 14px;">
<li>
What are the key drivers of the local market?
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<li>
What property types are in the highest demand?
</li>
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What price points are optimal?
</li>
<li>
What is the average yield and growth?
</li>
<li>
What streets should I avoid?
</li>
<li>
What has changed in the area in the last ten years?
</li>
<li>
What is likely to change in the near future?
</li>
<li>
What are the clear tractions that bring people to this suburb?
</li>
</ul>
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Rich Harvey's eight hotspotting must-ask questions

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The Melbourne property market is heating up with RP Data recording a preliminary clearance rate of 76.9% based on 862 auctions.
<a href="/news">RP Data stated </a>that "the underlying health of the market is highlighted by the fact there have now been eight consecutive weeks with a clearance rate in excess of 70%."
Monique Sasson Wakelin of Wakelin Property Advisory told Property Observer that “clearance rates do not necessarily measure whether the market is pricing itself up or pricing itself down. They measure the level of supply to demand and it was at 72% this weekend just gone.
"That is still telling me there is pent up demand and insufficient supply. If it drops to something in the 60% range then it’s closer to balanced. Clearance rates are very good at measuring over supply.”
Wakelin provided Property Observer her <a href="https://www.propertyobserver.com.au/victoria/melbourne-buyers-agents-slam-analysts/2013090364761?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news" target="_blank">tips for buying in the Melbourne market</a>:
- Aim for within two to 12 kilometres of the CBD
- Look for established stock rather than new
- If buying an apartment seek out those from the 1930s to the 1970s and always elect for parking
- If looking over $650,000 then look for two-bedroom period-style properties from the 1880s to 1940s
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Monique Sasson Wakelin’s four tips for buying in the Melbourne market

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Despite the rate remaining unchanged yesterday, opinions abound across the property industry. Here are comments from leading property industry experts that emerged yesterday.
REIA president Peter Bushby
In recent years, lower borrowing costs have been a major driver of improving housing affordability and have helped many Australians with their mortgages.
As a result of the easing monetary policy, housing affordability in Australia has been improving slightly for the past two years and the proportion of income required to meet home loan repayments is at its lowest since the June quarter of 2003.
Housing affordability is a real issue for Australians and first home buyers need an incoming Government to address this through a comprehensive housing policy.
Keeping interest rates low is essential not only for encouraging first home buyers into the market but it’s vital to further stimulate building activity and provide new jobs in the  housing industry.
ANZ Research head of Australian economics Ivan Colhoun
Today’s Monetary Policy Decision text by the RBA was almost identical to that released following the August easing of monetary policy.
By reverting to the somewhat standard “The Board will continue to assess the outlook and adjust policy as needed to foster sustainable growth in demand and inflation outcomes consistent with the target”, the Bank is likely signalling no near-term move in rates is being considered (the absence of phrases such as “scope to ease” and “policy is appropriate for the time being” are also indicative of this less active easing consideration).
One of the main discussion points about today’s statement seems to be the absence of reference to scope for easing. We do not read this as suggesting there is no scope for further easing or that the Bank has shifted to a neutral bias. To us the Bank was signalling that it was on active easing watch prior to August’s move, but this active consideration expired after the August move. The phrase was not restated after the August move or in the August minutes. However, with growth set to remain below trend for the next year or so, inflation contained, and unemployment gradually rising, there remains scope for further monetary easing if required. The August minutes reinforce this assessment as the Bank remarked it did not want to encourage thoughts of imminent further easing, nor did it want to suggest that rates could not be reduced further. Its conclusion in the minutes was that the Board would study incoming data in the months ahead to see if policy remains appropriately calibrated. Further information on the Board’s thinking may well be forthcoming in the September Board Minutes, if the August Minutes are anything to go by.
The Bank again noted that the AUD remained at a high level and that it may fall further, something that would be helpful in facilitating the transition of growth from mining-investment led growth to broader growth in other sectors of the economy.
Today’s statement reduces the chance of a further cut in the cash rate as early as the October Board meeting. The November meeting is therefore the likely earliest time period for a further move (after the next CPI release). While we suspect the Bank would prefer not to reduce interest rates any further in this cycle as lending rates and real cash rates are now at stimulatory levels, there remain a number of pressures to the downside given growth is forecast to be below trend for an extended period and unemployment is rising. This continues to reinforce our view that any early rise in Australian cash rates remains very unlikely. The course of the AUD is also an important consideration in the setting of policy at the present time.
RP Data research director Tim Lawless
The hold on interest rates today comes as no surprise despite the low private sector inflation reading that was released yesterday.  The latest data associated with the housing market remains positive, providing an increasingly firm indication that households and developers are responding to the low interest rate environment.  Dwelling values have continued along their recovery path, with home values half a percent higher over in August and 7% higher since the housing market started recovering in May last year.  The 0.5% rise in dwelling values in August is likely to provide the RBA with some comfort after values rose by a cumulative 3.5% over June and July.   Importantly the rise in dwelling values has been accompanied by a substantial rise in buyer numbers as well.  Based on transaction data for the June quarter, the number of home sales across the capital cities is about 31 percent higher than a year ago.  Data on dwelling approvals yesterday also painted a stronger view of the housing market, with approvals 28% higher over the year.  All housing market indicators are pointing to an ongoing recovery and a strong spring selling season.   Mortgage rates remaining low together with buyer activity substantially higher and listings numbers about 15% lower than a year ago we are seeing the typical capital city home selling in just 41 days compared with 62 days a year ago and clearance rates remaining above the 70% mark week on week.
Finder.com.au spokesperson Michelle Hutchison
Borrowers and prospective first home buyers don't have to rely on the Reserve Bank for a rate cut this mortgage season because several lenders have started the season with special offers. In fact, eight lenders - including major banks - are offering special deals such as waived fees or discounted rates. It's a great idea to compare deals, use comparison sites like finder.com.au and take advantage of the offers available. But make sure you do your research because a discounted rate or waived fee might not be worth paying more over the long term.
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RBA Decision: Property industry responses

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With mixed news coming from across the country’s property markets, it’s no surprise investors are out in force looking for opportunities, and there’s no better place to start than our nation’s capitals.
Melbourne is currentlya <a target="_blank" href="https://www.propertyobserver.com.au/victoria/melbourne-buyers-agents-slam-analysts/2013090364761?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news">city of contention</a> among property experts, while mixed news is coming from <a target="_blank" href="https://www.propertyobserver.com.au/western-australia/perth-property-investors-told-to-batten-down-the-hatches/2013090364766">Perth</a> and <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/election-may-be-cause-of-inner-city-rental-decreases/2013090364745?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news">Sydney</a> in terms of rentals. <a target="_blank" href="https://www.propertyobserver.com.au/northern-territory/darwin-s-10-hidden-gems-parap-is-27-cheaper-than-the-narrows-and-just-3km-away/2013090364667">Darwin’s “hidden gems”</a> have also been revealed recently.
 
<img alt="poll-results-sept-5" height="460" width="470" src="/images/stories/2013/09/05/poll-results-sept-5.jpg">
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Which capital city has the best residential investment opportunities?

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Catherine Cashmore has tweeted out a link highlighting The Guardian's report on the UK property market.
The Guardian writes that<a target="_blank" href="https://www.theguardian.com/housing-network/2013/sep/02/housing-market-recovery-austerity-election?CMP=twt_gu"> </a><a target="_blank" href="https://www.theguardian.com/housing-network/2013/sep/02/housing-market-recovery-austerity-election?CMP=twt_gu">first-time buyers in the UK market are jumping into property ownership</a> under a government scheme to avoid missing out.
Cashmore points to it being a ‘poignant’ example for the Australian market:
<a target="_blank" href="https://twitter.com/CCASHMORE_BUYER"><img alt="TWEET_OF_THE_DAY_PIC1" height="165" width="470" src="/images/stories/2013/09/04/TWEET_OF_THE_DAY_PIC1.png"></a>
"Far more voters already own their homes than identify as struggling first-time buyers worrying about being priced out of the market. And even those first-time buyers are now snapping up homes once more, thanks partly to the government's controversial Help to Buy scheme," The Guardian reports.
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Priced out UK first-home buyers a 'poignant' example for Australia

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Regular observer Cameron McEvoy believes that overall, investment desirability in an area is heavily dependent on infrastructure.
"There is not one checklist of infrastructure vitals you need to investigate when considering an investment property purchase, but two", <a href="/news">Cameron McEvoy wrote</a>.
The first list he came up with are a checklist of an area's core vitals pertaining to the basics of human life: safety, security, and employment:
Infrastructure Checklist – Area Vitals:
-          Emergency services (local police, fire, ambulance)
-          Employment prospects (look for job creation in a variety, not just a handful, of industries or trades)
-          Proximity to transport nodes (rail, bus, tram; as well as domestic and international airports)
-          Shopping &amp; retail facilities (basic/core groceries)
-          Proximity to education facilities (pre-school through to tertiary)
-          Digital services (fast access internet, subscription television)
-          Provision of basic leisure facilities (parks, local sports grounds, town centres, restaurants/bars)
-          Well-maintained roads and intersecting/connecting motorways
Cameron McEvoy is a NSW-based property investor and maintains a blog, <a target="_blank" rel="nofollow" href="https://propertyspectator.blogspot.com.au/">Property Correspondent.</a>
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Eight vital infrastructure signs to ensure your area stacks up: Cameron McEvoy

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Brookfield Multiplex has marked the handover of the $152 million Royal Randwick Grandstand to the Australian Turf Club, with a time-lapse animation of its construction.
 
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Royal Randwick Grandstand construction time-lapse 

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At its meeting today, the Board decided to leave the cash rate unchanged at 2.5 per cent.
Recent information is consistent with global growth running a bit below average this year, with reasonable prospects of a pick-up next year. Commodity prices have declined from their peaks, but generally remain at high levels by historical standards. Inflation in most countries remains well contained.
Overall, global financial conditions remain very accommodative, though the recent reassessment by markets of the outlook for US monetary policy has seen a noticeable rise in sovereign bond yields, from exceptionally low levels. Volatility in financial markets has increased and has affected a number of emerging market economies in particular. Notwithstanding the higher volatility, Australian institutions have ample access to funding markets.
In Australia, the economy has been growing a bit below trend over the past year. This is expected to continue in the near term as the economy adjusts to lower levels of mining investment. The unemployment rate has edged higher. Inflation has been consistent with the medium-term target. With growth in labour costs moderating, this is expected to remain the case over the next one to two years, even with the effects of the recent depreciation of the exchange rate.
The easing in monetary policy since late 2011 has supported interest-sensitive spending and asset values, and further effects can be expected over time, including from the declines in rates seen over recent months. The pace of borrowing has remained relatively subdued, though recently there are signs of increased demand for finance by households.
The Australian dollar has depreciated by around 15 per cent since early April, although it remains at a high level. It is possible that the exchange rate will depreciate further over time, which would help to foster a rebalancing of growth in the economy.
At today's meeting, the Board judged that the setting of monetary policy remained appropriate. The Board will continue to assess the outlook and adjust policy as needed to foster sustainable growth in demand and inflation outcomes consistent with the target.
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RBA Governor Glenn Stevens' September statement

Joel Robinson

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

Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

First look at MAYD's North Kirra mixed-use precinct

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Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[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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Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

A collection of just 25 large-format apartments and penthouses overlooking Goodwin Park is entering the Coolangatta market, with <a href="https://www.apartments.com.au/new-apartments/marea-residences-coolangatta-27-27a-dixon-street-coolangatta-qld-4225">Maréa Residences</a> combining a low-density, residential-only approach with uninterrupted park and Pacific Ocean outlooks.

Located at 27 Dixon Street, Maréa comprises three and four-bedroom residences alongside a limited number of dual-level penthouses, with the project positioned between Goodwin Park and <a href="https://www.apartments.com.au/developments/coolangatta-qld-4225">Coolangatta</a>’s coastal precinct.

Construction has commenced, with completion currently estimated for late 2027. Three-bedroom residences are priced from $1.8 million.

[smartcode_project:default project_id=150999 project_image_fid=374005]

The project has been designed around its northern outlook across the park, with the building’s architecture, landscaping and material palette intended to establish a connection with the neighbouring green space. The residences have been configured to maximise natural light and views across Goodwin Park towards the ocean.

Inside, the material palette incorporates timber, stone and brushed brass, complemented by curved detailing and ambient lighting. Kitchens and bathrooms carry the same natural material approach, while residences also include basement parking, storage and lift access.

Maréa’s penthouses are arranged over two levels and include private pools, adding another layer to the project’s focus on larger-format apartment living. Across the development, residences are configured with three or four bedrooms rather than the broader mix of smaller apartment types commonly found in larger projects.

[smartcode_project:default project_id=150999 project_image_fid=374010]

Resident amenity is concentrated at rooftop level, where landscaped entertaining terraces and pools take advantage of elevated views across Coolangatta and the Pacific Ocean.

The project has so far been particularly well received by local owner-occupiers and downsizers, according to Urban Activation Property Sales and Marketing Director Matt George, with the residential-only format, construction quality and northern park outlook among the features resonating with purchasers.

“The uninterrupted northern aspect overlooking Goodwin Park has been a key point of difference, with buyers attracted to the sense of serenity and open space the park provides, while still enjoying easy access to the ocean and being within walking distance of the lifestyle and amenities Coolangatta has to offer,” George said.

[smartcode_project:default project_id=150999 project_image_fid=374002]

“The combination of high-quality construction, a residential-only building, park outlook and proximity to the beach has resonated strongly with the local downsizer market.”

The Dixon Street address is within walking distance of Coolangatta Beach and the broader southern Gold Coast coastline, including the surf breaks at Snapper Rocks and Kirra. Coolangatta’s cafés, restaurants and retail are nearby, while Gold Coast Airport is also within close proximity.

[smartcode_project_cta:default project_id=150999]

Maréa Residences brings parkside apartments to Coolangatta

Melbourne developer PDG has secured Victorian Government approval for its $1.5 billion Southbank development <a href="https://www.apartments.com.au/new-apartments/the-one-1-queens-bridge-street-southbank-vic-3006">The One</a>, clearing the way for the long-dormant riverfront site opposite Crown to finally be developed.

The Minister for Planning has approved the project at 1-29 Queens Bridge Street, with the Department of Transport and Planning issuing the planning permit following its assessment.

The approval will allow PDG to develop the prominent 5,059 sqm site with a major mixed-use tower comprising premium apartments, including branded residences, a luxury hotel and boutique office space.

PDG acquired the site in late 2024, with its position directly opposite Crown's main entrance and near Melbourne's Arts Precinct making it one of Southbank's most significant remaining development opportunities.

<img alt="PDG" data-entity-type="file" data-entity-uuid="3933013e-6332-4386-b9be-089df05caf17" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.22%E2%80%AFAM.png?VersionId=sITIgBqDL0N3VNSMwWEmF5UA.uvcsRyu" />

Designed by COX in collaboration with ODO and PDG, the tower's architecture draws on the movement of the Yarra River, with six vertical pleats running the height of the sculpted facade.

The project will also see the heritage-listed Queens Bridge Hotel restored and incorporated into the development&nbsp;with new hospitality and public uses, including a rooftop venue.

A significant component of The One will be its residential amenity.

More than 5,000 sqm of resident facilities will be delivered across a single level, making it one of the largest consolidated residential amenity offerings proposed in an Australian apartment development.

The planning approval also incorporates a major upgrade of Queensbridge Square, which PDG will deliver in partnership with the City of Melbourne.

<img alt="PDG" data-entity-type="file" data-entity-uuid="73167fcd-1031-4b6f-a408-a064cfe45ed1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.17%E2%80%AFAM.png?VersionId=Pf1AEWxw6SNmBqR0zQW5lyEze.MtxgFp" />

The existing square will be revitalised as a new civic and pedestrian space along the Yarra River, strengthening the connection between the project, Southbank and the riverfront.

PDG Founder and Managing Director Vince Giuliano said the approval represented a major milestone for a site which has remained largely underutilised for more than 15 years.

“This is the most significant Planning Permit approval Melbourne has seen in recent years,” Giuliano said.

“For more than 15 years, this site has remained underutilised. This approval enables us to deliver a project that will contribute meaningfully to the revitalisation of Southbank, restore and reactivate an important heritage building, and create a new civic and hospitality destination for Melbourne.”

The latest approval follows an earlier planning permit issued by the City of Melbourne covering demolition works across part of the site at 9-29 Queens Bridge Street. Those demolition and early works are already underway.

PDG has also started generating early interest in the residential component from owner-occupiers ahead of a planned public launch in early 2027.

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