<html><body>
The 1903 Karbeethong Lodge at Mallacoota remains listed by the Sydney jewellery designer Rosemary Luker and her partner, tree surgeon Russell Freeman.
The couple stumbled upon the place in 2002 looking for a room, and fell in love with the place set on an inlet halfway between Sydney and Melbourne. 
Unique Estate’s Nicolette van Wijngaarden has listed the <a href="https://uniqueestates.com.au/listings/residential_sale-278785-mallacoota/" target="_blank">Karbeethong Lodge</a> on the shores of Mallacoota inlet in Victoria’s East Gippsland with $1.8 million hopes.
The coastal Edwardian retreat with views over the Bottom Lake from its Schnapper Point Drive vantage point began taking guests back in the 1920s.
During Luker's stewardship it has been restored, renovated and re-decorated the lodge which is rated 4.5 star on Trip Advisor.
The waterfront 10 bedroom guest lodge on 1.12 acres of waterfront land has hosted Australian and international guests all the way back to poet Banjo Patterson.
Cartoonist Michael Leunig was so smitten by the place he created a Mr Curly ode, featuring the lake, its fish, the moon with angels singing above the scenic location. 
Set among fruit trees, with access to a jetty, the lodge has also been featured in Country Style, Inside Out and other design magazines.
Mallacoota was like Byron Bay 30 years ago, Rosemary Luker, who also works as a Sydney financial industry communications consultant, suggests.
The town is also rumoured to have more millionaires per capita than anywhere else in Australia, given its abalone divers; and sea changers from Melbourne and Sydney, along with Canberra public servants who have weekenders.
Luker commutes occasionally to the investment from Glebe where she bought Reuss Cottage, the 145-year-old post-Regency cottage in 1994. 
The lodge has been marketed as representing a lifestyle investment opportunity for young retirees, who still want to run a profitable business and earn an income.
</body></html>

j.ballantyne1990-6AQqhLzZaK

Historic Mallacoota lodge up for sale

<html><body>
Melbourne’s commercial property market continues to its strong run, with a tranche of sales in the lead-up to the end of the year.
Highlighting the trend, a ground floor retail shop in the heart of Brighton’s restaurant and retail precinct recently sold for $1.9 million.
Located at 370 Bay Street, the 233 square metre ground floor retail shop (above) is securely leased to food retailer Burger Edge. 
It provides an annual income of about $50,000 per annum with short-term upside. 
The selling agent was CBRE’s Rorey James.
“This result is yet another example of the strong market confidence towards well located strip retail properties, which is being further enhanced by the low interest rate environment, improved consumer sentiment and upturn in business confidence,” James said.  
In further evidence of the uptick in sales activity, an owner-occupier recently secured a retail presence in North Balwyn for $700,000.  
Shop 3, 74 Doncaster Road is a 62 square metre retail property in the heart of Balwyn North Shopping Village.  
CBRE’s  Sandro Peluso brokered the deal.
“The building rate was equivalent to more than $11,000 per sqm, indicating the strength of demand shown by these owner occupiers looking to secure retail space in Melbourne’s eastern suburbs,” Peluso said.  
The two transactions follow a recent  sale of a Richmond development site for $16.7 million, on a tight yield of 1.5%.  
Situated at 79-89 Swan Street, the 1,540 square metre site comprises a 2,057 square metre two-storey building that has 10 shops and eight office suites with shared amenities.  
The property was sold through auction after an initial Expression of Interest sale process.
Seven bidders drove the price more than $4.2 million above reserve to the final bid of $16.7 million – a rate of just under $11,000 per square.  
“In a trend that is continuing to gain more traction in 2015, the property was sold to a local buyer, who managed to outbid several activity offshore and local groups,” CBRE director Mark Wizel said. 
</body></html>

Melbourne retail property market continues bull run: CBRE

<html><body>
Accessories company founder, Mara Spong, who supplied for many stores including Billabong, is still seeking $15 million plus for her waterfront trophy home at Surfers Paradise.
Mara calculates a replacement cost could actually equal $20 million.
The most expensive house on the Gold Coast's Isle of Capri, the six bedroom property is spread across four blocks with a large waterfront view.
The home was leased by film star Dwayne 'The Rock' Johnson whilst he was filming on the Gold Coast.
The property was architecturally designed and custom built with Rosewood floors, Oregon timber beams and sandstone walls.
There is an entertaining wing with a 12 seat dining table, bar area, cinema room and a billiards den which opens to a rainforest garden.
The property also features a gym, sauna, salt water pool, spa, BBQ kitchen and a temperature controlled, 7,000 bottle wine cellar.
Even a six car basement car park is included which is connected to the main residence by an internal lift. 
Nicolette van Wijngaarden and Heath Williams of Unique Estates have had the listing of <a href="https://www.realestate.com.au/property-house-qld-surfers+paradise-119750579" target="_blank">59 The Corso</a> since May last year with it being on the market for over 800 days in total.
The residence was completed in 2000 by surfwear industry pioneer Doug Spong and then-wife Mara.
</body></html>

The Corso, Surfers Paradise still awaits $15 million buyer

<html><body>
A milk bar with a three-bedroom house at the rear in Melbourne’s Springvale sold recently for $540,000.
According to selling agent Leyton Real Estate, the milk bar on <a href="https://www.realcommercial.com.au/property-retail-vic-springvale-501789442" target="_blank">68 View Road</a> was the perfect way to enter the Springdale commercial property market.
<img src="/images/2016/02/03/Screen%20Shot%202016-02-03%20at%203.30.48%20PM.png" alt="">
The corner property is in an area classified Business Zone 1.
It last sold in mid-2014 at $403,888 and in 1988 at $250,000.
<img src="/images/2016/02/03/Screen%20Shot%202016-02-03%20at%203.30.43%20PM.png" alt="">
The rent is $16,500 including GST with an annual increase of 4 percent per annum.
The land area is 210 square metre with a floor area of 70 sqm.
The property is on a three-year lease which started in 2014 and has options for renewals.
<img src="/images/2016/02/03/Screen%20Shot%202016-02-03%20at%203.30.54%20PM.png" alt="">
The dwelling at the rear comprises a kitchenette, separate bathroom and secured car space with rear entry.
</body></html>

Corner milk bar in Melbourne's Springvale sells for $540,000

<html><body>
Property has always been a hot investment for Australians, even when staying abroad.
Australia’s population is growing around 2% a year, driven by immigration. But 65% of the population live in one of the eight state or territory capital cities, meaning supply is almost always struggling to catch up with demand, according to Richard Wakelin from Wakelin Property Advisory.
Hence, investing in property is an attractive option.
But for those overseas trying to channel their hard-earned money here for investment and handy returns, be wary of property spruikers.
Regulators have voiced concerns about the price rises in Sydney and Melbourne in particular, amid reports of property spruikers "trapping" ill-advised investors in self-managed super fund (SMSF) structures.
In December 2014, the Financial System Inquiry chaired by David Murray suggested banning SMSFs borrowing to buy property, by removing the current exemption for limited recourse borrowing arrangements (LRBAs).
"We regard [recommendations to buy property through SMSFs] as investment advice and you need to be licensed and if you are not licensed we will come after you," ASIC commissioner Greg Tanzer told Property Observer earlier this year. 
Be cautious while buying off-the-plan property. You might save on stamp duty, but this is usually offset by the GST you indirectly pay, as a developer pays 10% GST on the building costs component which will be passed on to the buyer in the purchase price.
Also, as you will invariably pay a premium for the new house, you could end up losing up to 20% value if you skipped proper research.
High-rises can sometimes prove to be a trap as there is a supply glut in some suburbs. Which means finding tenants is hard, besides the level of rent and the yield.
Buildings with lifts, communal gymnasiums and pools usually come at the cost of higher fees.
Also, avoid properties that banks may be reluctant to lend for. These could include serviced apartments, student accommodation and those in a mixed zoning. 
If it's not good enough for the bank, meaning 'risky', it's likely not good enough for you, says Wakelin.
</body></html>

Expats, avoid these common pitfalls before investing in property

<html><body>
The weak Australian dollar is good news for Australian expats!
They can invest in property cheaper from money earned abroad.
Australians who bought property in the US during the global financial crisis when housing prices crashed in many parts of the country, including Las Vegas, can reap the benefits now as a stronger US economy and dollar mean rising rental income and strong capital growth. 
The Australian dollar fell to six-year lows in September. It has recovered since then, and was hovering around 0.71 to the US dollar by late December.
A weak local dollar would only mean those Australians who brought property in US can now find a profitable route to bring their money home: invest in property in Australia.
According to Greville Pabst, chief executive of property valuers and consultants WBP Property Group, a falling Aussie dollar represents positive news for expatriates, with the improved conversion rate giving them “greater buying power”.
 
</body></html>

Expats cashing in on weak Aussie dollar for property investment

<html><body>
Record-low interest rates, strong demand and record sales volumes kept the Australian property market going strong in 2015.
In 2016, supply will continue to support demand, but will demand hold up in the long-term? 
The WBP Property Group has analysed the market and are out with forecasts and trends. Here's a breakdown and analysis of the national market:
In Sydney, the market is showing signs of cooling. Declining auction clearance rates were to be expected, indicative of an overheated market. Prices have increased significantly in the past 12 months, seeing Sydney transition from a local buyer market to an investor-dominated market. 
In 2016, greater supply will hit the Sydney market, specifically off the plan and new developments. 
For investing, buyers would be wise to avoid Campelltown and the south western area of Sydney, which are considered high risk due to the large number of off the plan sales over the last 12 months to two years, says the group.
In Melbourne, indications are that established houses within 10 kilometres of the city and in the middle ring might be the strongest property class for growth in 2016. Demand for these freestanding houses has increased considerably through the second half of 2015, with little signs of abating. 
Perth is experiencing an oversupply of residential property, especially apartments. Rental values have softened. 
If economic conditions continue to weaken property values could retreat further in the short to medium term. 
Statistics show there is now over 16,000 properties for sale and nearly 9,000 properties for rent in the Perth metropolitan area, a clear indication of a softening and that property should priced realistically for clearance. 
Adelaide remains stable when compared to Melbourne and Sydney. There is limited supply in the prestige market, which is likely to drive heightened demand in 2016. 
Queensland will also see greater consistency in property prices as population rises, exporter confidence grows and the tourism dollar affects local trading. 
According to the group, fewer than 5% of properties on the market are specifically suited for long-term investment, and some trends that emerged from the data are: 
1. Auctions are king: most popular sales technique in inner-city areas
2. Record low rates: Australia’s low interest rates had a distinct flow on effect for vendors and buyers
3. For auctions, winter months performed better than years prior
4. Two bedroom, one bathroom, one car space most popular investment-grade property type
</body></html>

Will 2016 follow this year's property market? Valuers WBP breaks it down

<html><body>
Darwin recorded a fall in asking rents of 20% for houses and 13.7% for units for the past 12 months, according to the latest SQM Research.
Yearly falls have also been recorded in Perth, with asking rents down 7.6% for houses and 7.8% for units.
In contrast, Hobart recorded 8% for houses and a fall of 1.3% for units. Asking rents in Melbourne and Sydney also recorded modest rises for the same period.
“We note that 2015 overall has recorded another year of modestly rising vacancies. It suggests the supply side has been running a touch ahead of underlying demand at the national level. As we predicted back in October, I believe rents in 2016 will record only modest rises with the outperforming areas likely to be the Gold Coast and Hobart," said Louis Christopher, managing director of SQM Research.
SQM’s calculates vacancies based on online rental listings advertised for three weeks or more compared to the total number of established rental properties. 
<a href="/images/2015/12/16/AskingRentsDec152015.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/12/16/AskingRentsDec152015.png" alt="">
</body></html>

Darwin houses, units suffer rental falls: SQM

<html><body>
An original freestanding cottage, a registered boarding house, in Bondi Junction has sold for $2.9 million.
The 18 Waverley Crescent property with classic Victorian styling comes with redevelopment potential, subject to council approval.
<a href="https://www.realestate.com.au/property-house-nsw-bondi+junction-121377234" target="_blank">The marketing</a> showed no internal photos given its condition.
Built on a land area of 488 square metre, the cottage has timber flooring, ornate ceilings and a neglected rear yard.
The home is currently divided into four lettable apartments. It also has four vehicle lock-up garages.
The selling agent was Kevin Mendes of Laing &amp; Simmons.
The house is a short walk from Bondi Junction, with plenty of shopping, dining and transport options.
<a href="/expert-insights/buying/bondi-junction-boarding-house-sales-achieve-record-results">Two private local investors</a> snapped up separate boarding houses in Bondi Junction for $2.25 million each earlier this month, reinforcing the view that Sydney’s eastern suburbs are one of the city’s most sought-after investment areas for boarding houses. 
</body></html>

Bondi Junction boarding house sold for $2.9 million

<html><body>
Owner occupiers are expected to return to the market in force as their choices widen and the outlook for interest rates remains positive, according to a report by the the Urban Development Institute of Australia (Queensland) Research Foundation.
The third Industry Insights Report talks about the trends in land, house and apartment sales, supply and prices across Queensland.
It reveals a marked shift in the residential property market in 2015, with the focus shifting from regional Queensland to the South East. 
Prepared by The National Property Research Company (NPR Co), the report gathers market intelligence from industry players – real estate agents and developers across 15 regional areas.
South East Queensland hotspots include Brisbane, Gold Coast, Ipswich, Logan and Moreton Bay, all showing price growth in land and house sales volume. Medium to high density median prices – houses and apartments – remained fairly static, with growing sales volume, this is a reflection of the strong supply into the market in this category.
The report also reveals:
• In Brisbane, almost all respondents reported a rising market across all forms of housing over the last six months, with the majority view that we were yet to see the top of the cycle for apartments. Interest rates and population growth were cited as the most positive market influences.
• The outlook for the Sunshine Coast is positive. Whilst median price rises were slight across the board, the hospital nearing completion, investigation into improved transport infrastructure, economic diversification and improving domestic tourism figures buoyed the market.
• In Ipswich, the market is steadily rising, although there was concern about the negative impacts of low employment growth and infrastructure investment that may limit growth. Two thirds of respondents reported healthy levels of demand from international buyers.
• Logan, Gladstone and Toowoomba led the state for land, with modest growth in land volume sales. Whilst Gladstone is coming off a low base, the outlook is more positive into 2016. Toowoomba is riding the wave of infrastructure projects, and there was strong agreement that demand had increased across the board for all forms of housing. Logan has reaped the benefits of two major masterplanned communities and may well prove to be Brisbane’s newest and most dynamic corridor.
 • Population growth in the Fraser Coast, Mackay and Gladstone has challenged recovery in these LGAs. Mackay and Gladstone continue to experience oversupply, but are optimistic for improved conditions and see the affordability as the silver lining for buyers over the next 12 months.
• In Bundaberg, it was the opinion of respondents that positive growth in the market will be driven by low interest rates and affordability.
• Whilst sales volumes in Cairns cooled since the last report, median prices rose across the board, and the industry eagerly awaits the commencement and/or confirmation of major infrastructure projects.
• The outlook for the Gold Coast is very positive with a large majority of respondents confident about a continued rising market, particular for houses, and very healthy overseas demand from both investors and owner occupiers.
UDIA (Qld) president Brett Gillan said Queensland’s new property market contributed to economic growth and jobs in Queensland in the first half of 2015, noting the buoyancy of the South East Queensland market.
“We are seeing the return of owner occupiers to the market, and they are looking for diversity and fresh choices in housing types and locations. Our challenge is to respond to this demand, and meet their lifestyle aspirations at an affordable price,” he said.
“We are very aware of the challenges that regional communities outside of South East Queensland continue to face and we have been working closely with our industry, local councils and the state government in 2015, to assist with the creation of local planning schemes that have the best interests of the communities’ future at heart.”
Industry Insights researcher, NPR Co managing director Matthew Gross, said that the research throws the spotlight on the factors behind the vastly variable market conditions being experienced across Queensland.
“The report suggests that confidence and certainty, interstate capital inflows and a resurgence in the stock market are issues to watch in 2016,” he said.
CSQ CEO Brett Schimming said the UDIA (Qld) Research Foundation, that has just celebrated its first anniversary, has filled a gap in industry knowledge that CSQ is proud to have been able to facilitate.
“The housing and construction industry is one of the most important economic drivers and this research helps to keep industry informed. The more we know the better we can plan housing developments and ensure we have the right skills and training in place to meet future needs,” he said.
The Foundation’s research programme is driven by the Industry Leaders’ Research Group representing Stockland, Amex Corp, Lend Lease, Frasers Property, Investa, Peet, Pradella Property Ventures, Excel Development Group, Defence Housing Australia, Pointcorp, AV Jennings, Wentworth Equities, McNab, PLACE Design Group and Village Retirement Group.
</body></html>

2016 marks the return of Queensland's owner occupier market: UDIA

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