<html><body>
A private investor has fought off strong competition to secure a Carlton retail property for $3.96 million at auction. 
With a crowd of more than 200 people, the bidding started at $2.4 million before selling to a local buyer for a land rate of close to $30,000 per sqm.
The auction was held onsite as 265 Lygon Street was sold with a six year lease, providing an annual income of $148,567 and a 3.3 percent yield.
The freehold property, which sold for $1 million over the reserve, comprises a highly exposed building with prominent frontage to Lygon Street, as well as rear laneway access. 
CBRE’s Rorey James said the property was keenly sought after, attracting a total of 85 bids on the day. 
“The strong level of interest seen in this property is an indicator that core retail property will always be in demand, from both an international and domestic perspective,” Mr James said. 
“Furthermore, the recent interest rate drop to 1.75 percent is fuelling more interest from investors looking to inject capital into real estate.” 
</body></html>

j.ballantyne1990-6AQqhLzZaK

Carlton retail property sells $1 million above reserve

<html><body>
The founder of Aussie Home Loans John Symond doesn't think we need cheaper official interest rates at the moment.
Talking to Ross Greenwood on the 2GB Macquarie network's Money News following the June interest rate hold, Symond also said that he doesn't think the Reserve Bank will cut anytime soon.
'I don't think they will, or they should," he said.
"The economy would have to take a hit, I believe, for the Reserve Bank to be coughing it up to drop rates even further.
"The further they go down the further they will have to eventually go up.
"I don't think we really need cheaper official rates at the moment."
Symond said that he thinks the Reserve Bank knows the interest rate drops don't have the impact it used too.
"I think we're beyond that and I think the Reserve Bank acknowledges that the interest rates lever dropping rates no long has the impact it used to because they're so low."
"I just don't believe someone would decide now's the time to go out and buy because rates have dropped a 1/4 percent.
"We've got the lowest interest rates in history, so by comparison to over the last decade the rates are just so cheap and I don't believe it's now a factor of will rates go cheaper if they do it'll give me confidence to go and buy
Talking about growing the economy, Symond suggested that hopefully once the election is out of the way the people will get back to making decision moving forward.
"We've got to find ways t grow the economy and that's the critical path now."
"You can't just say low interest rates are going to cure all our issues"
"We need to grow the economy and the sooner we get this election out of the way, hopefully the sooner the people get back to making decisions moving forward.
Talking about what the loan book looks like now, Symond suggested that there haven't been significant improvements.
"There's still a healthy level of activity in sectors of housing," he said.
"Investors are still very very subdued because of all the new lending rules and government rules.
"First home buyers are still struggling to try to get into the market."
He said that refinancers are on the increase and so they ought to, as research he did recently showed over half of all people with home loans haven't looked at refinancing in the past 10 years which is costing Australians billions of dollars.
Symond suggested competition is still as "red hot" as he's seen it in his nearly 50 years.
He concluded by suggesting there won't be another cut soon despite economists beliefs, but potentially some months away.
"Im hoping it won't happen because I'm hoping the Australian economy does better than it has and it doesn't go backwards because every time rates go down, it's a measure of the health of our economy.
"The further down it goes, the further the state of our economy goes down hill and we don't want that," he added.
You can listen to the <a href="https://www.2gb.com/article/money-news-full-show-tuesday-7-june-2016" target="_blank">full interview here.</a>
</body></html>

John Symond says rates don't need to go lower 

<html><body>
The Malvern trophy home modelled on Melbourne's iconic Chanel building was sold at weekend auction for $3.46 million.
It was sold to a Chinese buyer through Jellis Craig agents Iain Carmichael and Genevieve Hoyle.
They said that the sale showed a very full price.
A Chinese bidder walked in for the first time 20 minutes before the auction started and didn't even have a chequebook on him, which he got delivered to the house.
Designed and built to sell, the new family home at<a href="https://www.realestate.com.au/property-house-vic-malvern-122630006"> 3 Plant Street</a> has four bedrooms, two bathrooms, a home office and a swimming pool in landscaped gardens
</body></html>

Chequebook arrives for Malvern's Chanel house auction buyer

<html><body><div class="page" title="Page 1">
<div class="layoutArea">
<div class="column">
Marshall White Projects has quickly sold all 45 townhomes in its Seasons development in Melbourne's Keysborough.
They secured over $27 million worth of sales in just 14 days.
Architecturally-designed with free-flowing layouts and expansive yards, the properties are available in four thematic palettes and three configurations.
Marshall White Projects Director Leonard Teplin said that the element of customisation is rare and it isn't often buyers are offered a variety in floor plans and sizes.
From homes in lakeside winter tones to refreshing spring palettes, the seasonal themes are enhanced with expertly chosen distinctive flora that manifests in the surrounding gardens, parks and wetlands. 
The sales are evidence of Keysborough's blossoming residential market and the continued demand for large-scale family homes as owner occupiers are still getting squeezed out of rising CBD prices.
“We are seeing considerable demand for luxury new homes in these outer south eastern suburbs and we don’t see this slowing any time soon, as the inner-suburban market continues to be pushed out of reach of first time buyers and younger families," said Teplin.
With house values appreciating by an average of more than 10% and average gross rental yields topping 4% in the last year alone, it is little wonder why Keysborough is attracting such keen interest.
“Properties in neighbouring suburbs are priced considerably higher, in some cases 10-15 per cent more, yet they don’t offer the same value for money as Keysborough where you can get quality three and four bedroom dwellings for well under $700,000,” said Teplin.
“What we have noticed is while many young couples and families are happy to move a little further out of the city for affordability’s sake, they aren’t willing to compromise on quality and amenity." 
“Young couples and families in particular, were attracted to this heightened detailing and diversified offering, which allowed them to tailor their home to suit their distinct preferences and circumstance.” 
For more information, <a href="https://www.marshallwhiteprojects.com.au/past-projects/" target="_blank">click here</a>.
</div>
</div>
</div></body></html>

45 townhomes sold in Keysborough Seasons development

<html><body>
The former divisional director and head of training for equity markets at Macquarie Bank Rohan Boman and wife Anne have listed their Tasmanian Federation home Cooinda.
Originally from Queensland, the couple have spent many years living and Sydney and overseas but decided to settle in the south.
They paid $2.7 million for the home which sits on a sprawling 3.4 hectare parcel on the edge of the D’Entrecasteaux Channel.
Built in 1905, <a href="https://www.realestate.com.au/property-house-tas-birchs+bay-119616911" target="_blank">the fully renovated Cooinda</a> has four bedrooms, a formal dining room, a central study and a sheltered garden terrace.
They keep chicken and sheep on the property which also features a 1984 renovated barn and a self-contained cottage.
Rohan is currently the director at Australian Whisky Holdings.
The property is listed through Knight Frank Hobart agent Pam Corkhill who has $3 million plus hopes.
</body></html>

Tasmanian Federation home, Cooinda for sale

<html><body>
The modern Bellevue Hill architectually-designed home that appeared on ABC's Dream Build series in 2013 has been listed for sale.
The 2010 new-build took on the best parts of the 1960s home designed by architect Henry Rossler that sat on the 923 sqm land parcel.
The old house was impractical for owner Felicity Jansen - nicknamed Flip - and her family, so it was demolished to make way for the 'Flipped House'.
With the help of architect Steve Koolloos, Felicity also drew inspiration from the work of her late architect father, who was interested in mid-century Modernism along with the use of its natural products.
This is reflected in the homes used of stone, glass, wood and concrete in the home built by JBC Constructions over around 18 months.
Features like the carved wooden front door are a replica of the one her father designed and made for Felicity's childhood family home. 
She said her new home echoed the design of the home she grew up in.
She paid $5.25 million for the block in 2006.
The four bedroom home won a commendation for Marsh Cashman Koolloos Architects at the 2013 RAIA NSW awards.
It comes with a Cheminees Chazelles double-side, wood-burning fireplace, a home office, a guest retreat and a water-edge pool that falls into the surrounding pond. The garden, designed by Paradisus, took inspiration from by the geometry practiced by the modern Brazilian architecture Oscar Niemeyer.
Alison Coopes at Agency by Alison Coopes is taking offers on the Bulkara Road property with $10 million plus likely interest. 
This article was first published in the Sunday Telegraph.
</body></html>

ABC's Dream Build trophy listed for sale

<html><body>
The former Austrian tennis champion Thomas Muster has listed one of his Noosa Heads riverfront properties at $5.9 million.
It was the first he bought on the water paying $2.8 million in 2013, <a href="https://www.realestate.com.au/property-house-qld-noosa+heads-122755794" target="_blank">with the house then designed by architect Tim Ditchfield</a>, according to the marketing by Tom Offerman who declined to comment. 
Muster has most mystified since he's consolidated three nearby properties for a combined $9.9 million, though no application has yet been lodged with council.
Muster first bought into Noosa in 1994 when he paid $1 million for Cintamani, a 35-hectare hinterland property.
He sold it in 2002 for $7.6 million and bought back in 2006, spending $3.5 million on Noosa Hill, which he later sold to motor racing driver Mark Webber.
Muster spends time in Queensland because his former wife, Jo Beth Taylor, the former Australia's Funniest Home Videos host, has resided there on the Sunshine Coast with their son.
This article was first published in the Weekend Australian Mansion Australia property section. 
</body></html>

Thomas Muster lists Noosa home

<html><body><div class="page" title="Page 5">
<div class="section">
<div class="layoutArea">
<div class="column">
The fourth house reveal on this year's Channel 7 House Rules series was Luke and brother Cody, the former owning a country cottage in Queensland.
The youngest home owner on the competition has a relatively small mortgage on his property, just $120,000.
Luke is helped by twin brother Cody, who signed up to help him transform his rundown 1940's shack.
“Realistically this is a once in a lifetime opportunity, so saying no to him would just be cruel," Cody said.
"Plus I’m living in the house now so it’s a beneft to have it done up!”
Luke bought his house two years ago after saving hard while doing his electrical apprenticeship. He is now a qualified electrician.
“It was a very run down house but I saw potential in it,” he explains. 
“I was renting for a year or two and it was dead money so I was wanting to see my money go towards something good.”
Cody moved in after finishing his diesel fitter apprenticeship at Toowoomba 12 months ago. 
“There was no point me renting in Toowoomba as it cost a fortune and I was never there and whenever I was home I was mostly at Luke’s place anyway so I just moved in.” 
The boys did make a DIY start on renovations but the ensuite only got as far as the framework and the kitchen and laundry are in dire need of a makeover.
</div>
<div class="column">
Cody’s biggest concern with the house is its lack of insulation, suggesting it's 'bloody cold' in winter and smoking hot in the summer.
“There are holes in-between the floorboards where the breeze will come up through.” 
While their dad is a builder, both boys admit renovating is still a big learning curve for them. 
“The design and the prettiness we struggle with,” says Cody.
“We both want to get in and do the physical side, but I bet he’ll pull the older brother card and I’ll be sent shopping.” 
Coming up with the House Rules for Luke’s place was also a bit of a struggle for the boys. 
“From looking at photos we like the style of modern country but we don’t really know what it is!” says Cody.
<img src="/images/2016/06/06/Screen%20Shot%202016-06-06%20at%2011.09.00%20AM.png" alt="">
 
“We don’t want to strip it right back to a bare shell of a house and make it look like new, we want to keep that country feel. We like that original style house,” adds Luke.
The two currently sit top of the competition.
The first couple on 2016's House Rules were Fil and Joe, who have a 1950's weatherboard house in Melbourne.
The second house transformed on air on this seasons House Rules was South Australian parents Michelle and Brooke.
The third house renovated on this year's House Rules series was Team NSW Nancy and Daniel, who's rundown 60's house lies halfway between their parent's homes.
<img src="/images/2016/06/06/rules.jpg" alt="">
</div>
</div>
</div>
</div></body></html>

Luke and Cody top as fourth House Rules property 

<html><body>
The Redcliffe Tavern, prominently positioned in the commercial heart of the Redcliffe peninsular, north of Brisbane, has been sold for $15 million.
The off-market sale, on behalf of the private investor from Melbourne, was negotiated by Jon Tyson and Peter Tyson of Savills Retail Sales.
The property, comprising a modern freestanding tavern and First Choice Liquor Superstore, was acquired by a private investor on a yield of approximately 6%.
Peter Tyson said the property is leased to Liquorland (Qld) Pty Ltd, the major liquor division of Coles Group Ltd, on a 20-year lease to 2029 with two further 10-year options,” he said. 
The Redcliffe Tavernwas developed in circa 2009 on a 2,498sq m site at 32 Anzac Avenue, Redcliffe, approximately 28km north of the Brisbane CBD. 
It was bought in 2014 for $11.5 million on a yield of 7.27 per cent.
</body></html>

The Redcliffe Tavern north of Brisbane has been sold for $15 million

<html><body>
The 26 year Bondi hoarders saga may finally be coming to an end, again, as a June 9 date has been set for it's new auction.
The great escape continued after the home at <a href="https://www.realestate.com.au/property-house-nsw-bondi-118903099" target="_blank">19 Boonara Avenue</a> skipped auction as the NWS Sheriff's Office couldn't proceed with the auction set for May 19.
A possible $2 million sale is on the cards for its prime location and 550 sqm land parcel.
The property was set for sale in February last year but owner Mary Bobolas and her daughters Elena and Liana came up with the $180,000 to pay Waverly Council’s cleaning and legal bills just hours before the auction.
This time they're not expected to be so lucky, as they need to come up with $160,000 in the next eight days to save the home.
In November the council’s solicitors wrote to the Bobolas family asking for settlement of the outstanding money to avoid the sale of the property but no received no reply.
The NSW Sheriff’s Office has commissioned Raine &amp; Horne Double Bay’s Ric Serrao to sell the property so that clean-up costs can be recovered on behalf of the council.
The listing shows rubbish flowing out of the door onto the houses frontage despite a 10 truck clear up in July last year.
Bidders hoping to secure the property will take on the responsibility on the clean-up costs of the rubbish left on the land.
When it was listed in 2015, 63 contracts had been handed out. Last month it was in the 30s.
</body></html>

Bondi hoarders auction rescheduled for June 9

Avant Townhomes is adding to Ivanhoe’s family-sized housing options with <a href="https://www.apartments.com.au/new-townhouses/three-82-ivanhoe-382-upper-heidelberg-road-ivanhoe-vic-3079">Three 82</a>, a collection of just 16 four-bedroom townhomes on Upper Heidelberg Road.

The <a href="https://www.apartments.com.au/developers/intrapac-property">Intrapac Property</a> townhome division has taken a contemporary approach to the traditional family home, pairing larger floorplans with the lower-maintenance format of a townhouse.

[smartcode_project:default project_id=152069 project_image_fid=374394]

Designed by <a href="https://www.apartments.com.au/architects/arcadia-studio">Arcadia</a>, with landscaping by Landsite, the homes feature generous open-plan living and dining areas that connect directly to outdoor spaces, with layouts also designed to maximise natural light and privacy.

Natural stone is used throughout the interiors, including in kitchens that pair stone surfaces with bespoke cabinetry, considered storage and SMEG appliances.

The four-bedroom layouts include built-in wardrobes and a main bedroom with its own ensuite, while family bathrooms service the additional bedrooms. Each home also includes a lock-up double garage and intercom entry.

[smartcode_project:default project_id=152069 project_image_fid=374399]

Energy efficiency has been incorporated into the design through solar panels, double glazing and reverse-cycle heating and cooling, with the homes targeting 7-star energy ratings.

Rather than incorporating extensive communal facilities, Three 82 has been conceived around private residential amenity, with the 16-home scale keeping the focus on individual homes and their own indoor and outdoor spaces.

The development is located at 382 Upper Heidelberg Road, around one kilometre from Ivanhoe Village's cafés and retail and a short drive from Eaglemont Station and Ivanhoe Station.

[smartcode_project:default project_id=152069 project_image_fid=374393]

Several of Ivanhoe's established schools are also nearby, including Ivanhoe Girls' Grammar and Ivanhoe Grammar School. The address also provides access to the suburb's parklands and the wider Yarra River corridor.

<a href="https://www.apartments.com.au/project-marketer/nelson-alexander">Nelson Alexander</a> has been appointed to handle sales.

Construction is underway and progressing well, with Three 82 currently tracking toward completion in Q2 2027.

[smartcode_project_cta:default project_id=152069]

Joel Robinson

Three 82 brings boutique four-bedroom townhome collection to Ivanhoe

Builder-developer&nbsp;<a href="https://www.apartments.com.au/developers/graya">Graya</a> has secured a prime Newstead site from fellow developer Fraser, subsequently lodging plans for The Silo, a major mixed-use residential project in Newstead designed around a new public laneway linking the James Street precinct with the wider Gasworks and Newstead neighbourhood.

Proposed for the corner of Chester and Morse streets, the <a href="https://www.apartments.com.au/architects/bureauproberts">Bureau^Proberts</a>-designed project places its strongest emphasis at ground level, where retail, landscaping and a new cobblestone pedestrian connection would open the site to the surrounding neighbourhood. The design team describes The Silo as “more than a residential building”, positioning the development as an extension of Newstead’s public realm rather than a standalone apartment tower.

“A new cobblestone laneway and landscaped connection between James Street and Gasworks unlock a missing pedestrian link, improving walkability and stitching together two of Brisbane’s significant urban destinations,” Bureau Proberts said in its Urban Design Report.

<img alt="First look: Graya plans The Silo as new pedestrian link between James Street and Gasworks" data-entity-type="file" data-entity-uuid="0ea1b06a-75f5-40a5-b2c5-33c97bc86052" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/silo%20bldg.png?VersionId=KmjsAtNePu57_B31EM_DJ5T6KPJHtcmo" />

The Silo is planned as a mixed-use development incorporating apartments alongside a bar and centre activities including food and drink outlets, indoor sport and recreation, office and retail uses.

Architecturally, Bureau Proberts has conceived the building as a collection of vertically expressed, stepping forms rather than a single uniform tower. The composition rises from an articulated podium before being broken by a triple-height landscaped recreation level, with the upper section becoming more compact before terminating in a landscaped rooftop garden.

The project's name and architectural language draw directly from Newstead's industrial history. Patterned off-form concrete is proposed as the principal façade material, complemented by slender metal rod balustrades and extensive planting. The cylindrical and vertically ribbed elements give the building its silo-like expression, while curved balconies and planted edges introduce a softer subtropical layer.

“The Silo reinterprets its robust forms, scale and materiality through a contemporary subtropical architectural expression, creating a building that acknowledges its industrial legacy, while responding to the way the precinct is occupied today,” Bureau^Proberts said.

The recreation level is one of the defining breaks in the tower. Plans include a lap pool, mature subtropical planting and shared resident facilities within an elevated communal garden. Landscaping continues through the podium and onto the rooftop, where a further garden forms what the architects describe as a “subtropical crown” to the building.

<img alt="First look: Graya plans The Silo as new pedestrian link between James Street and Gasworks" data-entity-type="file" data-entity-uuid="f8451036-35a4-49a9-8d88-2ef4438eba3d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Silo%20Lane.png?VersionId=h8N31_rYmCEqoNrpt4kbYVQhJGZn60LH" />

At street level, the development has been designed to establish a more permeable block. Retail and hospitality tenancies address the public realm, while landscaped pedestrian spaces lead into the new laneway connection. Renders in the design report show the proposed “Silo Lane” as a substantial opening through the podium, framed by cylindrical concrete forms with cascading planting above.

The Silo continues Graya's move into larger apartment developments after building its reputation across high-end residential projects in Brisbane and the Gold Coast.

Graya buys Frasers Newstead site, plans The Silo between James Street and Gasworks precincts

<a href="https://www.apartments.com.au/developers/wickton">Wickton</a>’s completed Linacre Rise development in Hampton is giving Bayside downsizers the opportunity to move into a spacious apartment near the beach, with the developer covering stamp duty for a limited time.

The 27-residence development has been designed for buyers who want to simplify their living arrangements without giving up the space, warmth and quality associated with a long-term family home. Most apartments have already been secured by Bayside locals, leaving a select collection of two and three-bedroom residences and penthouses available.

Two-bedroom apartments are priced from $1.275 million, three-bedroom residences from $2.25 million and penthouses from $3.375 million, with the completed homes available to inspect and move into now.

[smartcode_project:default project_id=95289 project_image_fid=366760]

<a href="https://www.apartments.com.au/buildings/linacre-rise-hampton-8-10-linacre-road-hampton-vic-3188">Linacre Rise</a> occupies an elevated position on one of <a href="https://www.apartments.com.au/developments/hampton-vic-3188">Hampton</a>’s quiet, tree-lined streets, around 250 metres from the bay and 500 metres from Hampton’s village centre. Its setting gives residents access to the beach, local cafés, shops and Hampton Train Station while retaining the feel of an established residential neighbourhood.

Architecture and interiors by <a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a> draw on the warmth and permanence of traditional brickwork, with the building integrated into terraced landscaping by <a href="https://www.apartments.com.au/landscape-architect/john-patrick-landscape-architects">John Patrick</a>. Ground-floor apartments are elevated above the street and include private garden courtyards, while several upper-level residences have generous balconies and outlooks toward the bay.

Inside, the residences favour natural materials and generous proportions. Herringbone-pattern European oak flooring, natural stone benchtops, premium joinery and Swiss V-ZUG appliances are among the key inclusions, while integrated storage has been incorporated across kitchens, bathrooms, studies and living areas.

The kitchens have been planned as practical spaces for both everyday use and entertaining, with substantial island benches, detailed cabinetry and adjoining dining and living zones. Full-height wardrobes, plush bedroom carpeting and carefully considered lighting reinforce the residential character Wickton sought to retain for buyers moving from larger homes.

[smartcode_project:default project_id=95289 project_image_fid=366769]

A Linacre Rise purchaser said the completed apartment had delivered the space, outlook and construction quality they had been seeking.

“The unit is very light, has views to die for over the bay, all construction materials and fittings are premium quality, we have secure parking for three cars, EV charging at very competitive rates, the neighbours are friendly and there is just a lovely ambiance about the place,” the purchaser said.

Environmental features include solar panels, shared electric vehicle charging stations, rainwater harvesting for toilet flushing and landscape irrigation, double-glazed windows and water-efficient fixtures and appliances.

[smartcode_project:default project_id=95289 project_image_fid=366762]

The development was built by Balmain &amp; Co, with Wickton managing the broader development process through its in-house team.

For downsizers, the project’s completed status removes much of the uncertainty associated with buying off the plan. Purchasers can inspect the finished apartments, understand their outlook and proportions, and move in without waiting for construction to conclude.

The remaining selection includes north-oriented balconies, corner configurations and penthouses with elevated bay views. The developer-paid stamp duty initiative is available for a limited time, with potential savings of up to $200,000 depending on the residence purchased.

[smartcode_project_cta:default project_id=95289]

Limited-time stamp duty offer at completed Linacre Rise apartments in Hampton

Luxury apartment buyers have long prioritised design, space and finishes, but increasingly they're placing equal importance on something less tangible: how easily they can live without relying on a car.

At <a>Richmond Square</a>, <a href="https://www.apartments.com.au/developers/fortis">Fortis</a> believes that convenience begins beyond the apartment itself, with the mixed-use precinct earning a near-perfect Walk Score of 99.

The development has been planned around the idea that some of the most valuable amenities aren't contained within a building, they're the restaurants, cafés, parks, transport connections and daily conveniences that can all be reached on foot.

Located just behind Swan Street and Church Street, <a href="https://www.apartments.com.au/new-apartments/richmond-square-1-wiltshire-street-richmond-vic-3121">Richmond Square</a> places residents within one of Melbo​u​rne's most established lifestyle precincts while offering a quieter residential setting removed from the busiest thoroughfares. East Richmond Station is moments away, trams run along both Swan and Church Streets, and the MCG, Melb​​ourne Park, Yarra River trails and the CBD are all within walking distance. At the same time, the precinct itself will introduce a curated mix of dining, retail, hospitality and wellness offerings, creating a destination that extends well beyond its residential buildings.

[smartcode_project:default project_id=13181 project_image_fid=348530]

For Fortis, that combination of location and scale was what made the site unique.

"<a href="https://www.apartments.com.au/developments/richmond-vic-3121">Richmond</a> is one of Melb​o​urne's most established and distinctive inner-city neighbourhoods, with a rare combination of dining, culture, recreation, public transport and proximity to the CBD," the developer said.

"The opportunity at Wiltshire Street was particularly compelling because the site sits slightly removed from the activity of Swan and Church Streets while remaining only moments from everything that makes the area desirable."

Rather than developing a standalone apartment building, Fortis consolidated 15 individual properties to create one of the larger development parcels assembled on Mel​b​ourne's city fringe in recent years. That allowed the team to deliver a genuine mixed-use precinct comprising 107 residences across Wiltshire House and Carmine House, premium office space, hospitality venues, retail, wellness offerings and a future 57-room hotel.

"The scale of the site allowed Fortis to think beyond a standalone apartment building," the developer said.

"Richmond Square could be planned as a complete lifestyle precinct, bringing homes, workplaces, dining, retail, hospitality and wellness together around a series of activated public spaces. The aim was to create a destination that feels connected to Richmond rather than separate from it."

[smartcode_project:default project_id=13181 project_image_fid=348533]

The emphasis on walkability has also resonated with buyers.

Interest has been strongest from established owner-occupiers, particularly downsizers from Richmond and Melb​ourne's inner east who want to remain close to familiar restaurants, workplaces, family and social networks while moving into a more secure, lower-maintenance home. The project is also attracting Mornington Peninsula and interstate buyers seeking a Melb​ourne residence they can lock up and leave between visits.

Many are looking for generous living spaces, room to entertain, quality finishes and confidence in the project team, but location remains one of the biggest deciding factors.

"For many buyers, Richmond Square provides a way to simplify the practical side of home ownership without reducing the quality of their lifestyle," the sales team said.

"Location is also a major driver of interest. Buyers can remain connected to the CBD, major sporting events, the arts centres, local restaurants, cafes and bars and their family while living in a private and secure residence that is easy to lock up and leave for weekends or longer periods away."

[smartcode_project:default project_id=13181 project_image_fid=348549]

The residences themselves have been designed with that buyer in mind. Award-winning architecture practice SJB and interior designers Hecker Guthrie have created spacious two and three-bedroom apartments and penthouses that prioritise generous living areas, natural light, bespoke joinery and private terraces. Above, a rooftop sanctuary by Acre includes landscaped lawns, bookable dining rooms, barbecue facilities, wellness spaces and panoramic views across the CBD, the MCG and Port Phillip Bay.

Fortis believes Richmond Square reflects a broader evolution in apartment living, where the surrounding neighbourhood becomes just as important as the residence itself.

"Richmond Square introduces a different proposition: generously proportioned residences within a genuinely mixed-use, hospitality-led destination," the developer said.

"The project's location and Walk Score of 99 further support a lifestyle where residents can complete many everyday journeys without relying on a car."

Fortis has assembled an experienced team that includes <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, <a href="https://www.apartments.com.au/interior-designers/hecker-guthrie">Hecker Guthrie</a>, <a href="https://www.apartments.com.au/landscape-architect/acre">Acre</a> and builder <a href="https://www.apartments.com.au/builders/hacer-group">Hacer Group</a>, reflecting the developer's commitment to creating projects with enduring design quality and meaningful connections to the communities in which they sit.&nbsp;

Richmond Square is an expression of that philosophy, bringing together homes, workplaces, hospitality and wellness within one of Me​lb​ourne's most walkable neighbourhoods.&nbsp;

Construction is now almost complete, providing purchasers with growing confidence ahead of its expected September 2026 completion.

[smartcode_project_cta:default project_id=13181]

Walk Score of 99 places Richmond Square at the heart of Melbourne's most connected lifestyle

<h3 data-end="19" data-section-id="1dvgwoe" data-start="0">Summary</h3>

<ul data-end="634" data-start="21">
	<li data-end="170" data-section-id="1o77v31" data-start="21">Walker Corporation has lodged plans for a second major residential development in the Maroochydore City Centre, a 29-storey tower known as Celeste.</li>
	<li data-end="327" data-section-id="1lb0y6t" data-start="171">The Plus Studio-designed proposal at Lot 30 Sunshine Coast Parade would deliver 208 apartments, including four four-bedroom sub-penthouses and penthouses.</li>
	<li data-end="487" data-section-id="za720" data-start="328">The application comes as Walker doubles down on Maroochydore following the strong sales campaign at SOL by Walker, where the first tower is nearing sell-out.</li>
	<li data-end="634" data-section-id="5sovec" data-start="488">Walker is a key partner in the transformation of the Maroochydore City Centre, which is expected to ultimately deliver at least 4,000 new homes.</li>
</ul>

Walker Corporation is doubling down on Maroochydore following the successful sales campaign at its first residential project in the emerging CBD.

The national developer has filed plans for <a href="https://www.apartments.com.au/new-apartments/celeste-30-sunshine-coast-parade-maroochydore-qld-4558">Celeste</a>, a new 29-storey apartment tower at Lot 30 Sunshine Coast Parade, just metres from its under-construction SOL by Walker development.

The plans, prepared by Plus Studio, would see 208 apartments delivered across a 100-metre tower on the 2,376 sqm site, which fronts Sunshine Coast Parade, First Avenue and Future Way within the Maroochydore Priority Development Area.

<img alt="Walker" data-entity-type="file" data-entity-uuid="17038209-6fea-4ed2-855d-fd4df65b3d02" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-10%20at%2010.24.16%E2%80%AFAM.png?VersionId=iZD.oVXcQn.aLpUytDAW.CWjxP4puWMy" />

The proposed apartment mix comprises 36 one-bedroom apartments, 48 two-bedroom apartments, 72 two-bedroom apartments with an additional multipurpose space, and 48 three-bedroom apartments.

The upper levels would be capped by two four-bedroom sub-penthouses and two four-bedroom penthouses, taking the total apartment count to 208. The preliminary yield study also provides 262 car spaces, 114 resident bicycle spaces and storage for each apartment.

It represents Walker's next major residential move in the new Maroochydore CBD after the success of SOL by Walker, its $220 million two-tower project nearby.

SOL launched to market in early 2025 and has since seen strong demand, particularly from local owner-occupiers. By February this year, Walker said the first SOL tower was nearing sell-out, with a strong waitlist also emerging for its recently released penthouse collection.

Construction is already underway on SOL, with the first tower expected to be completed in late 2027 and the second to follow in early 2028.

[smartcode_project:default project_id=147777 project_image_fid=319846]

<h2 data-end="2518" data-section-id="1b2dyo5" data-start="2459">Celeste to rise 100 metres over Maroochydore City Centre</h2>

Celeste would take a different form to the twin 19-storey buildings at SOL.

Plus Studio has designed a single 100-metre tower above an activated podium, with the architecture responding to the site's prominent position and three street frontages.

The podium would incorporate commercial tenancies and public art, with sweeping façade elements wrapping the street edges. The scalloped concrete podium has been inspired by the patterns created in sand at low tide, while extensive landscaping would continue vertically through the tower.

The ground level plans show three commercial tenancies addressing Sunshine Coast Parade alongside the residential lobby and landscaped public realm. The podium would then accommodate several levels of car parking before the residential tower rises above.

<img alt="Celeste" data-entity-type="file" data-entity-uuid="121f77b1-71c5-46d7-9b36-0a7d474211ca" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-10%20at%2010.24.47%E2%80%AFAM.png?VersionId=MGrg9Hb7HgzLN0Lelq_xrXNAruVl77ia" />

Plus Studio said the tower had been designed to maximise views from each apartment, taking in the Maroochy River, Sunshine Coast hinterland, Cotton Tree and Maroochydore Beach and ocean.

Those views have also shaped one of the project's key features, with Walker proposing to put the primary resident amenity on Level 29 rather than lower within the building.

The rooftop would feature a 284.9 sqm pool area with an infinity edge, along with a cold pool, spa, sauna, 93.2 sqm gym, sunset lounge, BBQ and dining areas, pool deck and private dining space. Cabanas and day beds are also shown across the recreation level.

The two penthouses would extend across the upper levels and each feature private terraces and plunge pools.

<h2 data-end="4202" data-section-id="v5f4ix" data-start="4160">Walker's growing Maroochydore footprint</h2>

Celeste further reinforces Walker's commitment to the transformation of Maroochydore City Centre.

Walker is one of the key partners delivering the new CBD alongside Sunshine Coast Council and SunCentral Maroochydore, with the broader 62-hectare Priority Development Area occupying the former Horton Park Golf Course and surrounding land.

The precinct is ultimately expected to accommodate at least 4,000 new homes as Maroochydore evolves into the Sunshine Coast's principal commercial and residential centre.

When SOL secured approval in February 2025, Walker Managing Director and CEO David Gallant described it as the "first of many residential projects" the company planned for the Maroochydore City Centre.

Celeste now provides the clearest indication yet of what comes next.

The site sits immediately within the new CBD, with the design report identifying Sunshine Plaza and surrounding parkland within walking distance and Maroochydore Beach around a five-minute drive away.

For Walker, the timing of the application comes as its first residential bet on the new CBD appears to have been vindicated.

SOL has progressed from planning approval to construction while its first release has approached sell-out, giving Walker confidence to push ahead with another 208 apartments and take its residential pipeline in the Maroochydore City Centre to around 450 dwellings across the two projects.

Celeste remains subject to planning approval, with the architectural material describing the scheme as a preliminary yield study that may change through the assessment process.

Staff reporter

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News