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A tenanted pharmacy in Melbourne's Diamond Village Shopping Centre in Watsonia has sold to a local investor for $635,000. 
The 108 sqm pharmacy at 9/78-92 Nepean Street Watsonia was sold by Brett Diston of Ray White Commercial Victoria. 
He said there was keen interest in the investment opportunity, which is returning net rental income of approximately $34,466 per annum on a long term lease 
A tenanted retail investment in the growing suburb of Watsonia in Melbourne’s north-east has been sold by Ray White Commercial for $635,000.
The retail property was sold behalf of a private owner for a yield of 5.4 percent.
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Tenanted pharmacy in Melbourne's Watsonia sold

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<div>Quest Apartment Hotels has started building its $16 million 68 apartment complex Quest Griffith in the Riverina region of south-western New South Wales.</div>
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<div>Developed by Joss Group, the property will feature a mix of studios and one, two, and three bedroom apartments and is set to open January 2017.</div>
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<div>Quest Griffith has opened the expressions of interest for franchisees.
</div>
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<div>L-R: James Shields, Shaun Deaton, Mayor John Dal Broi, Richard Stamp</div>
 
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Quest begins $16 million construction in NSW's Griffith

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Over the December 2015 quarter, 8.8 percent of Adelaide resales were at a gross loss, which was down from 9.3 percent at the end of the third quarter of 2015 but higher than the 8.1 percent over the same quarter last year.
The Light council area recorded no loss-making resales over the quarter while Norwood Payneham St Peters (3.5 percent) and Marion (3.8 percent) recorded less than 4.0 percent of all resales at a loss.
The highest proportions of loss-making resales over the quarter were recorded in Playford (21.8 percent), Gawler (17.4 percent) and Walkerville (14.3 percent) council areas.
<a href="/images/2016/03/30/Screen%20Shot%202016-03-30%20at%202.48.10%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/30/Screen%20Shot%202016-03-30%20at%202.48.10%20PM.png" alt="">
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Adelaide's resale losses down from Q3 2015: CoreLogic RP Data's Pain & Gain

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As Queensland's population grows, the need to provide services and community facilities such as schools and hospitals also grows.
Due to this growth, it is sometimes necessary for the state government to acquire land for public purposes.
The Acquisition of Land Act 1967 authorises constructing authorities to acquire land for public purposes related to their business. The Department of Environment and Heritage Protection (DEHP) has the power to acquire land for public purposes. It is the constructing authority for various Queensland Government agencies.
<h2>Legislation</h2>
Legislation that provides for the resumption of land are the: 
<ul>
<li>
Acquisition of Land Act 1967 for the acquisition of freehold land </li>
<li>
Land Act 1994 (and various other Acts) for the acquisition of state leasehold land.</li>
</ul>
The Acquisition of Land Act outlines the purposes for which land can be acquired.
<h2>Land resumption for transport and roads</h2>
You can find out if the government requires your property by doing a property search.
If your property is required for a road or transport project, you will receive a ‘Notice of intention to resume’.
If you agree, you can negotiate for compensation or may choose to object.
<h3>Making an objection</h3>
As the landowner, you have the right to object, have the objection heard, and have your proposal considered by the government.
Your objection must: 
<ul>
<li>be in writing </li>
<li>be made within a specified time </li>
<li>provide supporting details for your objections.</li>
</ul>
After considering your objections, we may: 
<ul>
<li>go ahead with the resumption </li>
<li>change the portion of your property required for the project </li>
<li>change the project so we do not require your property.</li>
</ul>
If your land is resumed, we publish a ‘Taking of land notice’ in the Government Gazette (the gazette). This process normally takes approximately 3 to 6 months.
<h3>Claiming compensation</h3>
You can claim compensation if you are the legal owner, lessee or licensee of the property.
You must make the claim within 3 years from the day we publish the ‘Taking of land notice’ in the gazette.
You will receive a copy of the gazette notice, and a compensation claim form to complete and return to us. You may engage a registered valuer and/or solicitor to assist you.
We will reimburse reasonable costs as part of the overall settlement of compensation.
<h3>Advance payments</h3>
You can apply for an advanced payment against compensation at any time after lodging your claim.
This does not affect your right to negotiate additional compensation or have the matter independently determined by the Land Court if we fail to reach an agreement.
<h3>Property value assessment</h3>
Assessment is based on the market value of the property (or your interest in the property) at the date of the gazette notice.
The Department of Transport and Main Roads will have the property independently valued and a property officer will then contact you to discuss compensation.
<h3>Offer of compensation</h3>
If an offer of compensation is made to you, and you are satisfied with the offer, we will arrange settlement.
Compensation payments made as a result of the resumption of property do not attract GST.
<h3>Correction of property title</h3>
The Department of Transport and Main Roads will correct the title for the remainder of your land to reflect the new boundary at no cost to you. 
<h3>Rejecting the compensation offer</h3>
If you choose not to accept the compensation offer, a property officer will arrange a conference with you to resolve differences in an open and conciliatory manner.
If you do not reach an agreement on compensation, you can refer the matter to the Land Court for an independent determination.
<h3>Vacating the property</h3>
The government can take possession of the property at any time following publication of the gazette notice.
If you refuse to vacate the property from that date, we can arrange to take physical possession of the property, with the costs to be met by you.
Alternately, where practicable, you may remain at the property for a set period of time under certain conditions.
Our property officers will be pleased to assist if you have any queries on resumption matters. Please phone 1800 806 414 (toll free) for further information or for a hard copy of the brochure.
<h2>Reclaiming coastal wetlands and marshes</h2>
Reclaiming land under tidal water involves filling land to a level above the high water mark to make it suitable for your purpose.
The impact of this on coastal wildlife, habitat and scenic values must be considered carefully.
<h3>Guidelines</h3>
You should read the guidelines (Owners consent for development assessed under the coastal Act – document currently under review) and related government policies on this issue before lodging an application for a licence or permit.
<h3>Pre-design/pre-lodgement meeting service</h3>
This service is for projects that need a high level of assessment. It includes a meeting with a departmental project manager to discuss the information that you need to include in your application.
For more information please refer to the Pre-design conference fact sheet.
Contact Permit and Licence Managemen<a href="https://www.ehp.qld.gov.au/licences-permits/contact_details">t</a>, or email, or complete a Pre-design conference application form.
Find out more about coastal development.
<h3>Permits and approvals</h3>
The approval you require will depend on the type of project.
For more information, <a href="https://www.qld.gov.au" target="_blank">click here</a>.
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Property 101: When the Queensland Government reclaims land

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The Reserve Bank's interest rate cut of 0.25 basis points could have further impact on the residential property market according to the Australian Property Institute.
API chief executive Mike Zissler said the record low rate is a double jeopardy play by the Reserve Bank as it will also push housing out of reach of many low income families as housing affordability becomes an even greater percentage of people’s incomes.
“There is little doubt it will have a positive impact on the housing and associated sectors," he said.
"The latest cut will, however, upwardly impact upon property values.
"If the intention is to stimulate the economy it is essential that banks pass the cut on and do so quickly."
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Reserve Bank plays double jeopardy with housing market: API

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The Australian dollar fell on news the May RBA meeting cut the cash rate.
CoreLogic RP Data's head of research Tim Lawless said the RBA decision to cut the cash rate to a new historic low today of 1.75 percent was likely to have been hotly debated at the board meeting. 
He said on one hand we have economic growth tracking at 3% per annum, a housing market where the pace of capital gains was moderating in a controlled fashion and relatively strong labour market conditions. 
"Balance this with negative quarterly inflation and a high Australian dollar and it becomes clear that this decision probably could have gone either way," he said.
"The big question relevant to the housing market is how much of the lower cash rate will be passed on to mortgage rates. The spread between the cash rate and standard discounted mortgage rate has been widening since 2008 when there was 1.8 percentage points difference between the two rates. 
"By the April 2016 the spread has doubled to be 3.65 percentage points and is likely to widen further if the full rate cut isn’t passed on by lenders to mortgage rates.  With home values still showing some upwards momentum, lower mortgage rates are likely to provide some further stimulus to the housing market, which the Reserve Bank will be monitoring closely.
"The last thing they would like to see is a rebound in the rate of capital gain, particularly in Sydney and Melbourne where dwelling values have already risen 50 percent and 31 percent respectively since the rate cutting cycle began in November 2011.
The shadow treasurer Chris Bowen has blamed the cash rate cut on the government's "incredibly poor economic management".
In a statement on Tuesday Mr Bowen said the decision reflected a weaker economic outlook, with the RBA expecting growth to moderate this year.
"In addition, incomes are falling, living standards are stagnating and home ownership is out of reach for so many Australians – facts the Government will be hiding from tonight.
"While our resilient economy is a testament to the efforts of hard working Australians, these are worrying trends we can't ignore." 
According to finder.com.au's resident money expert Bessie Hassan borrowers are being warned to keep a close eye on rate cuts that are set to filter the market as a result of the Reserve Bank’s surprise decision to slash the cash rate to a new historical low of 1.75 percent.
She said the move follows days of speculation regarding a rate cut, fuelled by the release of inflation data last week, which revealed that Australia’s Consumer Price Index (CPI) has dramatically slowed.
"The outcome was in contrast to the forecast of 96% of the economists and experts in the finder.com.au RBA survey, who predicted no change, citing a strong labour market, recovering Australian dollar and a ‘wait and see’ approach to the Federal Budget," she said.
"Only one economist, Savanth Sebastian of CommSec, correctly predicted the rate cut, with low inflation a likely key factor influencing the decision, he said.
"The finder.com.au RBA Survey closed on 27 April 2016 – the same day the new inflation data was released. More than half (55 percent) of the 22 experts who weighed in to prospects of a rate movement correctly tipped a rate cut was in store in 2016. However today’s cut has come somewhat earlier than expected, with the majority of experts tipping August or November as the most likely month this would happen.
"Thirty-eight percent of experts surveyed on the rate cycle predicted a drop to 1.75 percent before a rise, while 13 percent are forecasting one further drop to 1.5 percent before the cash rate starts to rise.  Our new cash rate of 1.75 percent is remarkable – it is the lowest it’s ever been and a far cry from the pre-GFC days of circa 7 percent."
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RBA cuts cash rate at May 2016 meeting

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STATEMENT BY GLENN STEVENS, RBA GOVERNOR: MONETARY POLICY DECISION
<div>
<div class="rss-mr-content">
At its meeting today, the Board decided to lower the cash rate by 25 basis points to 1.75 per cent, effective 4 May 2016. This follows information showing inflationary pressures are lower than expected.
The global economy is continuing to grow, though at a slightly lower pace than earlier expected, with forecasts having been revised down a little further recently. While several advanced economies have recorded improved conditions over the past year, conditions have become more difficult for a number of emerging market economies. China's growth rate moderated further in the first part of the year, though recent actions by Chinese policymakers are supporting the near-term outlook.
Commodity prices have firmed noticeably from recent lows, but this follows very substantial declines over the past couple of years. Australia's terms of trade remain much lower than they had been in recent years.
Sentiment in financial markets has improved, after a period of heightened volatility early in the year. However, uncertainty about the global economic outlook and policy settings among the major jurisdictions continues. Funding costs for high-quality borrowers remain very low and, globally, monetary policy remains remarkably accommodative.
In Australia, the available information suggests that the economy is continuing to rebalance following the mining investment boom. GDP growth picked up over 2015, particularly in the second half of the year, and the labour market improved. Indications are that growth is continuing in 2016, though probably at a more moderate pace. Labour market indicators have been more mixed of late.
Inflation has been quite low for some time and recent data were unexpectedly low. While the quarterly data contain some temporary factors, these results, together with ongoing very subdued growth in labour costs and very low cost pressures elsewhere in the world, point to a lower outlook for inflation than previously forecast.
Monetary policy has been accommodative for quite some time. Low interest rates have been supporting demand and the lower exchange rate overall has helped the traded sector. Credit growth to households continues at a moderate pace, while that to businesses has picked up over the past year or so. These factors are all assisting the economy to make the necessary economic adjustments, though an appreciating exchange rate could complicate this.
In reaching today's decision, the Board took careful note of developments in the housing market, where indications are that the effects of supervisory measures are strengthening lending standards and that price pressures have tended to abate. At present, the potential risks of lower interest rates in this area are less than they were a year ago.
Taking all these considerations into account, the Board judged that prospects for sustainable growth in the economy, with inflation returning to target over time, would be improved by easing monetary policy at this meeting.
</div>
</div>
<div class="box-enquiries"> </div>
 
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May meeting: RBA Governor statement on rate cut

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Executive Chairman of Raine &amp; Horne Angus Raine believes Super Tuesday is a watershed for real estate and the Federal Government will leave negative gearing and the capital gains tax discount in place when it announces the 2016/17 Budget tonight.
He said Super Tuesday could prove a major watershed for the Australian economy, currency and investment markets such as residential real estate, with federal budget and interest rate announcements both set to be made today, adding there is a strong precedent for a May move, with the RBA adjusting monetary policy 7 times at its May meeting since the year 2000.<a href="#_edn1" title="" style="line-height: 1.3em;"> </a>
“With the burgeoning threat of deflation hovering above the economy, the chance of an interest rate cut is firming with investment markets, although my view is that the RBA will wait a little longer before trimming the cash rate to see what happens with the budget tonight, inflation and any impact on the property market,” he said.
"On the fiscal policy front I am confident the Federal Government won’t touch negative gearing or the capital gains tax discount.
“If the government pared back negative gearing and the capital gains discount, it would create a massive rush on residential real estate, with investors trying to beat the changes.
“As a real estate firm, this will create more demand for residential property, as investors attempt to lock in assets under the current taxation laws, but ultimately it won’t address affordability issues as it will likely create some short-term price inflation. There’s also a very good chance rents will rise too.
“In 2007, when the government changed the superannuation contribution laws, we saw many bumper auction days before the changes came into effect, with investors and self-managed super funds leading the charge to beat the changes.
“Real estate investment is a favoured asset class by millions of Australian voters because it is deemed safer than shares and easier to understand than bonds, so it would be a brave decision to fiddle with negative gearing and the capital gains tax discount.”
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Super Tuesday is a watershed for real estate: Angus Raine

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Some 13.8 percent of resold homes across Perth in the December 2015 quarter were sold for less than the previous purchase price which was the highest proportion of loss-making resales since July 2012. 
The 11.4% of resales at a loss is up from just 5.4 percent 12 months ago. The Peppermint Grove council area recorded no resales at a loss over the quarter, while Bassendean (4.9 percent) and Canning (5.7 percent) were the other two regions with the lowest proportion of loss-making resales. 
The highest proportion of loss-making resales occurred in the Perth (43.1 percent), Claremont (37.9 percent) and Mandurah (28.7 percent) council areas.
<a href="/images/2016/03/30/Screen%20Shot%202016-03-30%20at%202.49.38%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/30/Screen%20Shot%202016-03-30%20at%202.49.38%20PM.png" alt="">
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Perth hit by highest proportion of loss-making resales since 2012: CoreLogic Pain & Gain

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Minister for Finance, Services and Property Dominic Perrottet announced yesterday a simpler, more equitable pricing scheme for Land and Property Information’s (LPI) registration and titling services, delivering on the NSW Government’s commitment in 2015 to review LPI’s pricing framework to improve transparency.
Mr Perrottet said the old framework was outdated and overly complex, while the new framework removes pricing inconsistencies that had built up over time.
“This reform delivers a more transparent framework that will make dealing with LPI simpler for everyone, from new home buyers to the legal and property professionals who deal with the LPI every day,” Mr Perrottet said.
“It’s a reform that makes sense, adjusting the current framework to make it more user friendly and easier to regulate, while also making sure LPI’s product pricing is more equitable for customers,” he said.
Changes introduced under the new framework include:
<ul>
<li> Consistent pricing for core document lodgments, more than halving the number of different price points for LPI services (from 44 to 20).</li>
<li> A much simpler fee for plan lodgments, to be priced on a flat per-lot basis.</li>
<li>The introduction of requisition fees to ensure practitioners lodge quality-assured documents, reducing the need for costly resubmission of amended lodgments.</li>
<li>LPI ceasing to operate as an online retailer of title search products, with existing private-sector information brokers already servicing 91% of the market.</li>
</ul>
The impact of the reforms on existing product prices will vary, however the new framework is designed to remain revenue-neutral to Government overall, with NSW to remain one of the cheapest jurisdictions in Australia for core land titling transactions.
Among the price changes, titling charges on new home purchases will decrease by up to $61, while mortgage refinance charges will increase by up to $53.  Plan lodgment charges for subdivisions of 9 lots or more will increase, but will be lower for subdivisions of 8 lots or less (which make up more than 90% of subdivisions).
The new pricing framework takes effect from 1 July 2016, with LPI to delay applying the new requisition fee until 1 January 2017 to allow practitioners sufficient time to adjust.
Further information on LPI’s new pricing framework is available at <a href="https://www.lpi.nsw.gov.au/" target="_blank">www.lpi.nsw.gov.au</a>.
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Property 101: NSW LPI new registration and titling pricing

Abadeen has released the whole-floor penthouse crowning its recently completed <a href="https://www.apartments.com.au/buildings/park-residences-cremorne-2-sutherland-street-cremorne-nsw-2090">Park Residences</a> development in Cremorne, bringing the near-300 sqm residence to market for the first time.

Occupying the entire top floor of the boutique Lower North Shore development, the penthouse includes 221 sqm of internal living and a 74 sqm wraparound terrace, with a prized north-facing aspect taking in views across Middle Harbour.

The residence has been completed and fully furnished following a collaboration between Abadeen Executive Chairman Justin Brown and internationally recognised interior designer Jack Freeman, Founder and Managing Director of FREEMAN &amp; CO.

<a href="https://www.apartments.com.au/developers/abadeen">Abadeen</a> and Freeman approached the penthouse as a finished home, sourcing furniture, artwork, lighting and objects from Australia and overseas.

&nbsp;

[smartcode_project:default project_id=114246 project_image_fid=378718]

Pieces from Parisian design house Pierre Augustin Rose sit alongside contemporary artworks and bespoke lighting, with Freeman drawing on recent visits to PAD Paris and Salone del Mobile Milano for the final collection.

Brown said the aim was to create a penthouse that felt more like a large-scale private home than a traditional apartment.

"The experience begins the moment the lift doors open. You're welcomed into an elegant dining room before the home opens into an extraordinary living space framed by sun-drenched harbour views.

"Every time someone walks through the front door they pause. It's not just the view, it's the incredible sense of space, the warmth created by the northern sunlight that fills the interiors, and the way every room connects so effortlessly.

"It has all the proportions of a luxury home, while delivering the effortless lifestyle and personalised experience of living in a world-class six-star hotel, combined with the simplicity and convenience of apartment living."

&nbsp;

[smartcode_project:default project_id=114246 project_image_fid=378713]

A secure lift provides exclusive access to the penthouse level, opening to a dedicated arrival foyer and dining area before the residence expands into its main living and entertaining spaces.

Floor-to-ceiling glazing runs across the northern side of the home, connecting the interiors with the terrace and Middle Harbour outlook.

The penthouse also features a fireplace and substantial chef's kitchen, while the wraparound terrace has been designed to accommodate both everyday outdoor living and larger-scale entertaining.

[smartcode_project:default project_id=114246 project_image_fid=378720]

Freeman said the interiors had been deliberately kept restrained to complement the scale, natural light and outlook already established by the architecture.

"The penthouse is a serene study in quiet luxury," Freeman said.

"The interior pairs soft, sculptural forms with warm timber, pale stone and a restrained neutral palette. Curated artwork and metallic accents add depth, while abundant natural light creates a calm, effortlessly refined atmosphere. In my world, less is always more."

Freeman said the approach was centred around collecting individual pieces rather than simply decorating the apartment.

"Every material, every object and every piece of furniture has been curated with intention. I am a true believer in collecting versus decorating.

"The architecture already provided extraordinary natural light, remarkable volume and an uninterrupted connection to Middle Harbour. Our role was to complement those qualities with unique one-of-a-kind pieces of fine art and collectible design sourced from recent travels around the world."

[smartcode_project:default project_id=114246 project_image_fid=378694]

Among the collection are solid bronze sculptures by Lorenzo Quinn, alongside a curated crystalware collection and pieces sourced from international design fairs.

Park Residences sits opposite Cammeray Golf Club, Cammeray Croquet Club and Grand Slam Tennis Cammeray, around 300 metres from Neutral Bay Village and its established collection of restaurants, cafés and retail.

Brown said the combination of a whole-floor floorplan, northern aspect and proximity to Neutral Bay was becoming increasingly difficult to find on the Lower North Shore.

"Completed whole-floor penthouses with a sun-drenched north-facing aspect and sweeping Middle Harbour views are exceptionally rare," Brown said.

"Add a quiet position opposite golf, croquet and tennis facilities, a level walk to Neutral Bay Village and only minutes to the CBD, and you have a lifestyle that's incredibly difficult to replicate.

"This is a home that offers the privacy and generosity of a luxury residence together with the convenience of one of Sydney's best-connected harbourside locations."

The penthouse will be exclusively marketed by SRM Residential.

[smartcode_project_cta:default project_id=114246]

Joel Robinson

Abadeen unveils signature penthouse at Park Residences in Cremorne

New Brisbane developer Dalcott has unveiled Marrone, the first of three residential projects it is planning in and around Browning Street in South Brisbane.

<a href="https://www.apartments.com.au/new-apartments/marrone-south-brisbane-39-browning-street-south-brisbane-qld-4101">Marrone</a> will comprise 97 predominantly two- and three-bedroom apartments, with larger residences aimed squarely at the owner-occupier market.

The project will sit in a quiet pocket of South Brisbane between South Bank and West End, close to the restaurants, cultural attractions and riverfront amenity that have driven the suburb's continued transformation.

Dalcott is targeting buyers looking for more space and amenity than has traditionally been offered in the inner-city apartment market, particularly downsizers and professionals wanting to remain close to the city.

[smartcode_project:default project_id=149951 project_image_fid=377072]

Resident facilities will be concentrated around an extensive rooftop amenity offering, including a swimming pool, spa, infrared sauna, warm and cold magnesium plunge pools, private lounge, dining room and outdoor entertaining areas.

Dalcott Managing Director Lachlan Cottee said South Brisbane's combination of lifestyle, connectivity and established character had been central to the approach to Marrone.

“South Brisbane offers a combination of lifestyle, connectivity and character that’s difficult to replicate elsewhere in Brisbane,” Cottee said.

“Our focus has been on creating homes that feel connected to that environment while providing the level of design, functionality and quality that today's owner-occupiers expect.”

The residences will feature an expressive material palette. Italian Calacatta Viola marble, known for its deep burgundy veining, will be paired with aged brass tapware, Chestnut engineered timber flooring and Tuscan Oak joinery.

<img alt="Marrone" data-entity-type="file" data-entity-uuid="b8d833da-3b30-496a-ae30-07bdff371b50" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%2010.52.35%E2%80%AFAM.png?VersionId=P6DAgOfaQzIXljKKK5j3e5NhWtrHIu9G" />

Bathrooms will feature Nara Japanese ceramics and glass bricks, while clay, walnut and brass lighting will be used throughout the apartments.

Dalcott has appointed Realm Projects, led by Managing Director Shane Foley, to handle sales and marketing following previous sold-out collaborations between the groups.

Foley said the Brisbane apartment buyer had become increasingly focused on the quality of the home itself rather than simply securing an inner-city address.

“We expect to see strong demand from buyers who still want all the advantages of inner-city living but aren’t prepared to compromise on the quality of their home,” Foley said.

“Many will be downsizers looking to leave behind the maintenance of a traditional family home without giving up the space they enjoy, while others are likely to be professionals wanting a residence that reflects the way they live today.”

“Marrone responds directly to that demand, with generous floorplans, exceptional resident amenity and a location that places some of Brisbane’s best dining, entertainment and cultural attractions within walking distance.”

<img alt="Marrone" data-entity-type="file" data-entity-uuid="61f7b22f-899e-4c0f-940a-7d3ab1bfb93a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%2010.52.44%E2%80%AFAM.png?VersionId=PvN1JYxBgUpyCB7efKo52WGdSDs9nmim" />

Marrone will be the first project delivered as part of Dalcott's broader investment in the precinct.

It will be followed by La Terra, a boutique project comprising penthouse-style, single-level apartments on a northeast corner site with extensive resident amenity and city views.

Cottee said Marrone represented the first stage of the group's longer-term plans for the area.

Dalcott was established in 2025 by Lachlan Cottee and Ben Dalgliesh, combining development and construction capability under an integrated model and focusing on architecturally considered residential projects.

Marrone will initially be offered through a pre-release registration campaign ahead of its broader public launch.

Dalcott targets owner-occupiers with South Brisbane debut Marrone

Parnell Developments is the latest to seek significant uplift through the NSW Government's Housing Delivery Authority on a Strathfield site previously approved for a much smaller apartment development.

Parnell has sought approval for a 32-storey mixed use tower across&nbsp;<a href="https://www.apartments.com.au/new-apartments/7-lyons-street-strathfield-nsw-2135">3-7 Lyons Street and 18 Parnell Street</a>, a&nbsp;1,857 sqm site around 400 metres from Strathfield Station. The building would yield 160 apartments, 15 per cent of which will be dedicated affordable as per the government mandate for buildings seeking additional uplift.

Approved previously was a nine-storey building back in 2022 with just over 30 apartments. That approval came prior to the project being&nbsp;progressively reconsidered as planning policy shifted toward greater density around transport hubs.

<img alt="Strathfield" data-entity-type="file" data-entity-uuid="c5af5281-a643-4eb2-b8c4-0081b59c04c7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.16.48%E2%80%AFAM.png?VersionId=37bd3mI7rHNpThOV_75VO8xsGFwWOi1u" />

Turner has designed the latest building that would replace&nbsp;existing detached homes across the four lots.

The apartment mix comprises 22 one-bedroom apartments, 107 two-bedroom and two-bedroom-plus configurations, and 31 apartments with three or more bedrooms. The scheme also includes 203 car spaces across six basement levels and 58 bicycle spaces.

The proposal has been designed around a three-storey podium addressing Lyons Street, with the tower rising above and stepping toward its upper levels.

Turner said the podium was deliberately scaled to respond to the existing street, while the taller element has been designed as part of the emerging skyline anticipated around Strathfield Town Centre and the wider Homebush transport-oriented development precinct.

The Lyons Street frontage would have a more active, pedestrian-focused character, incorporating the commercial tenancy, landscaping and a brick-framed podium with an awning.

<img alt="Strathfield" data-entity-type="file" data-entity-uuid="14b20874-b8c3-4ac7-bc03-92be9a69fb78" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.17.48%E2%80%AFAM.png?VersionId=av.9TxtqIRTC6v3PkSuu1rL9rreWoe2h" />

Parnell Street, which faces the railway corridor, has been given a different architectural treatment, with double-height breeze blocks, landscaping and communal areas used to soften the interface with the rail infrastructure.

The tower itself uses curved and recessed facade elements, with wave-like indentations across the northern elevation breaking the building into three vertical forms.

A palette of grey concrete, brick and breeze blocks is complemented by clay and terracotta accents, while the upper tower adopts a lighter expression through articulated slab edges, vertical fins and recessed glazing.

Residents would have access to 467 sqm of communal open space spread across three levels. The ground floor would accommodate the more active resident areas, including barbecue and group gathering spaces and an internal communal room capable of being used for working from home.

A more passive viewing deck is proposed at level three, overlooking the ground-level landscaping and neighbouring tennis courts, while a rooftop "sunset deck" at level 30 would provide another social and relaxation space.

<img alt="Parnell" data-entity-type="file" data-entity-uuid="c3dce401-a80f-4682-8471-4caa01180880" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.17.34%E2%80%AFAM.png?VersionId=Xyo8JVqbOhSJXNy6Ih.1cHL.O6i0bGR." />

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Strathfield has been earmarked for substantial change through the Strathfield Town Centre planning work and the nearby Homebush TOD precinct.

Turner's report says the project has been designed to act as a transition between the existing low and mid-rise development surrounding the site and the taller built form expected to emerge across the town centre.

The proposal is being assessed as State Significant Development under the HDA pathway, alongside the concurrent request to amend the Burwood Local Environmental Plan.

First look: New apartment tower pitched for Strathfield Town Centre precinct

An $18 million penthouse has hit the market in Main Beach as construction tops out on La Mer, the $155 million apartment development rising just metres from the beach.

Spanning around 600 sqm across the top two levels of the 29-storey tower on Main Beach Parade, the four-bedroom penthouse is one of the latest eight-figure residences to test the upper end of the Gold Coast apartment market.

Its launch comes amid continued activity at the very top of the market, following the $30 million off-the-plan sale of a Burleigh Heads penthouse earlier this year, which surpassed the Gold Coast's previous $24 million apartment record set in 2023.

The <a href="https://www.apartments.com.au/new-apartments/la-mer-main-beach-3580-main-beach-parade-main-beach-qld-4217">La Mer penthouse</a> has been designed as a private residence in the sky, with 360-degree views spanning the ocean, Broadwater, hinterland and Gold Coast skyline.

[smartcode_project:default project_id=95606 project_image_fid=378731]

All four bedrooms have ensuites, while the ocean-facing master retreat occupies around half of the upper level and includes its own lounge, private balcony, two walk-in wardrobes and an oversized ensuite with a freestanding stone bath positioned to take in the views.

The residence also features a kitchen designed to accommodate a private chef, a 3.6-metre island bench, expansive butler's pantry, wine cellar and integrated bar.

[smartcode_project:default project_id=95606 project_image_fid=378732]

A rooftop pool and substantial outdoor entertaining area with its own kitchen sit above the residence, while a grand staircase connects the two internal levels. The penthouse also has its own express lift.

OTP Group Director James Elliott, who is marketing La Mer, said the penthouse was expected to appeal to high-net-worth buyers seeking either a permanent Main Beach residence or Gold Coast holiday home.

“The La Mer penthouse represents exceptional value, considering its quality design, size, privacy and location, not to mention the 360-degree views capturing the beach and Gold Coast Broadwater,” Elliott said.

“We’re anticipating interest from high-net-worth individuals and couples seeking a residence or holiday home in the sought-after village enclave of Main Beach, taking advantage of the unprecedented growth underway in the area and neighbouring The Spit.”

[smartcode_project:default project_id=95606 project_image_fid=378736]

La Mer is being developed by developer-builder ODUS and Nazero, in partnership with funder Metrics Credit Partners.

ODUS Director Byron Sakha said topping out the tower had provided the opportunity to release the project's most significant residence.

“We’ve worked with internationally-recognised studio Sici Design on the penthouse interiors, with a focus on ensuring it isn’t luxury for luxury’s sake. Every element has been thoughtfully designed to enhance quality of life for those who call it home,” Sakha said.

“The views are the hero of virtually every space, but we’ve given equal attention to the fittings and finishes, so every detail exudes elegance and refinement.”

Sici Design Founder and Director Maria Papadopoulos said the extensive views became an integral part of the interior design rather than simply something the residence was designed around.

“The views weren't something we designed around, they became part of the design itself, with the true luxury of La Mer in its feeling of peace, calm and wellbeing,” Papadopoulos said.

“Luxury isn't defined by how something looks, but how it makes you feel, and we believe a luxurious home should be beautiful to live in, not stressful to maintain.”

The interiors combine Austral Dream Dolomite natural stone and travertine with timber flooring and a restrained coastal palette.

[smartcode_project:default project_id=95606 project_image_fid=378734]

Designed by Plus Studio, La Mer is one of the more boutique additions to the rapidly changing Main Beach apartment market.

The tower comprises just 24 full-floor, three-bedroom plus multipurpose room apartments below the two-level penthouse, giving the project a considerably lower density than many of the larger towers being developed across the Gold Coast.

Residents will have access to a pool and spa, gym, sauna, barbecue facilities, private sun lounges, yoga lawn and outdoor beach shower.

The penthouse has been released as part of the final collection of residences at La Mer, with remaining apartments priced from $4.3 million.

Construction is expected to complete later this year, with a fully furnished display apartment now open on level four.

[smartcode_project_cta:default project_id=95606]

ODUS releases $18 million penthouse crowning La Mer Main Beach

<a href="https://www.apartments.com.au/developers/far-east-consortium">Far East Consortium</a> is preparing to commence construction on <a href="https://www.apartments.com.au/new-apartments/640-bourke-street-melbourne-640-bourke-street-melbourne-vic-3000">640 Bourke Street</a> this October, marking the next milestone for the Melbourne CBD development and its higher-end Eliza Collection.

Spanning levels 44 to 68 of the 68-storey <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>-designed tower, the Eliza Collection has been conceived as a lower-density offering within the broader development, with only five apartments on each floor, dedicated lift access and a collection of resident spaces reserved exclusively for Eliza Collection residents.

The Eliza Collection forms part of Far East Consortium's broader move toward larger-format residences at 640 Bourke Street, where the number of apartments was reduced from earlier plans as apartment sizes increased.

[smartcode_project:default project_id=509 project_image_fid=365685]

"What it's meant for 640 Bourke is we've actually reduced the number of apartments. We've increased the overall size of the apartments. We don't have any studios in here, and what that does for a project is it elevates it," Far East Consortium Director of Sales and Marketing Lauren Sheldon said.

Rothelowman Associate Jun Chang said the design process provided an opportunity to create more generous floorplans.

"We were given the opportunity to be more generous. The apartments became bigger and squarer than any other apartments which had been designed in the CBD before that."

[smartcode_project:default project_id=509 project_image_fid=368869]

That thinking carries through to the Eliza Collection, where the residences have been designed around the space and functionality associated with a larger home, but positioned high above the centre of Melbourne.

Kitchens are equipped with Gaggenau appliances, a butler's pantry, temperature-controlled wine cabinet and sculptural pendant lighting, while engineered timber flooring, stone and porcelain finishes and custom cabinetry feature throughout the broader interiors.

Privacy and security are another point of distinction. Eliza Collection residents have dedicated lift access, while 640 Bourke Street will provide concierge services and secure resident parking. Short-stay accommodation, including Airbnb, will not be permitted within the development.

[smartcode_project:default project_id=509 project_image_fid=365689]

Eliza Collection residents will also have exclusive access to selected amenity spaces across levels one and three of the restored Eliza Tinsley building. These include the Salon with grand piano, an art therapy room, private dining rooms and treatment rooms.

They sit within more than 3,000 sqm of amenity planned across 640 Bourke Street, alongside facilities including a pool, gym, whisky lounge and further social and wellness spaces.

The Eliza Tinsley building itself is central to the wider project's identity. Rather than treating the existing Eliza Tinsley façade as a separate element, Rothelowman used it as a starting point for the architecture of the new tower, with the historic building to accommodate the project's gallery and lobby.

"It's a significant asset and wants to be celebrated and experienced by all residents every single time they go in and out of the building," Rothelowman Principal Stuart Marsland said.

[smartcode_project:default project_id=509 project_image_fid=368872]

The tower will rise behind the retained heritage building at 640 Bourke Street, placing residents within walking distance of Southern Cross Station, Flagstaff Gardens, Queen Victoria Market and the Docklands waterfront.

With construction scheduled to begin in October, Far East Consortium has established an onsite display gallery at 640 Bourke Street, including fully built apartments that allow the project's layouts, materials and finishes to be inspected at full scale.

A fully built Eliza Collection apartment is also available to view at the display suite by appointment ahead of the planned October construction commencement.

Eligible purchasers who buy before construction commences can secure the full available off-the-plan stamp duty savings, subject to eligibility and applicable conditions.

[smartcode_project_cta:default project_id=509]

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