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Construction has started on a $14 million Gold Coast building that holds promise for a tech hub and is expected to be operation in October 2016. 
Located at 120-122 Siganto Drive at Helensvale, the three-level, 4,491 square metre building will be home to AMMA Private Equity.
The building will also house the head offices of AMMA’s key investments: Guvera, Sportkix, Tapp Commerce and App Investments.
It also aims to serve as an incubator for tech start-ups by providing serviced office space.
“The tech hub has a very funky tech look and feel – both inside and out. It will provide our team with state-of-the-art technology that will allow them to work on delivering the next generation of mobile innovations,” said AMMA Private Equity Global CEO Paul Jansz.
"Helping to get the creative juices going will be the building’s roof-top bar and entertaining area, golf simulator and indoor cricket pitch.
“It will be the ideal space for creatives, technologists, designers and developers to generate new ideas, experiment and bring innovations to market.”
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j.ballantyne1990-6AQqhLzZaK

AMMA invests in Gold Coast tech hub 

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The former Fairfield fire station, located at 3 William St, will go under the hammer on December 12 expecting to draw strong attention from developers.
The 955 square metre site is zoned for mixed use, providing a great opportunity for mixed-use retail, commercial, education and/or residential developments in the future.
“We had strong interest in the Cabramatta fire station that sold earlier this year, and we’re expecting a similar response in Fairfield,” said selling agent Harry Bui of Colliers International.
Fire &amp; Rescue NSW recently relocated to their new premises at 198 Fairfield Road, Yennora, making the William Street asset redundant for them.
 Bui also sold the Cabramatta fire station in May this year. The property fetched $2.1 million and was bought by Asian investor, the Lu Group.  
 “Fairfield is well-located in Sydney’s west, and the site at 3 William Street is in a central position and provides the buyer with a host of opportunities,” added Bui.
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Sydney's Fairfield fire station comes to market

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Vicinity Centres has announced its acquisition of two Perth metropolitan shopping centres, The Shops at Ellenbrook (Ellenbrook) and Livingston Marketplace, for a total of $319 million including costs.
They were bought from the Insurance Commission of Western Australia (ICWA) in a deal expected to be completed by early 2016.
“Both centres are in trade areas characterised by strong population and retail expenditure growth over the medium to long term, and have high specialty sales productivity and low occupancy costs," said Angus McNaughton, CEO and Managing Director of Vicinity Centres.
“Both assets also have development potential which will strengthen their positioning in their catchments over time. This is particularly the case at The Shops at Ellenbrook which includes 6.5 hectares of adjoining land acquired as part of the transaction.”
The purchases are being funded through debt, increasing the group’s gearing by about 150 basis points, within Vicinity’s target gearing range of 25%-35%.
Ellenbrook is a sub-regional shopping centre with a gross lettable area (GLA) of 32,400 square metres, about 30 kilometres from Perth’s CBD.
It is the main retail centre in a catchment forecast to experience a population growth of 4.7% and retail spending growth of 7.3% on an annualised basis over the next 10 years.
Ellenbrook is anchored by Woolworths and Coles supermarkets and a Big W discount department store (DDS). The centre has 75 specialty stores generating sales of $8,500 per square metre (psm) and have below-market specialty occupancy costs of 10.7%.
With a total site area of over 19 hectares, there is scope to add a second DDS and more specialty stores. 
Livingston Marketplace is a sub-regional shopping centre with a GLA of 15,500 square metres located in the southern Perth suburb of Canning Vale, 15 kilometres from the Perth CBD.
It sits in a catchment forecast to experience 2.6% population growth and 5.5% retail spending growth on an annualised basis over the next 10 years.
The centre has a Woolworths supermarket, a Big W DDS, and 36 specialty stores which generate specialty sales of $9,900 psm and have below market specialty occupancy costs of 9.7%.
Ellenbrook has been purchased for $220 million ($231.6 million inclusive of acquisition costs), which includes $20 million for the additional land surrounding the asset. The centre has been acquired on a cap rate of 5.75%.
Livingston Marketplace was bought for $83 million ($87.4 million inclusive of acquisition costs) on a cap rate of 6%.
Due to the rental growth potential, internal rates of return in excess of 9% for both centres are expected to be achieved.
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Vicinity Centres buys two Perth shopping centres for $319 million

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Daniel Wayne Auld, an unregistered builder, was fined $4,500 in the Sunshine Magistrates’ Court, following an action by Consumer Affairs Victoria relating to his work at a property in Spotswood.
Mr Auld, 31, of Sunshine West, trading as Timbertec Carpentry &amp; Constructions, pleaded guilty to various breaches of the Domestic Building Contracts Act 1995, the Building Act 1993 and the Australian Consumer Law (Victoria).  
As well as not being a registered builder at any relevant time, Mr Auld also:
<ul>
<li>took an initial deposit of 40% of the contract price. By law, the maximum deposit a builder can ask for is 10% (for works of less than $20,000) or 5% (for works of $20,000 or more)</li>
<li>failed to provide his client with a contract that included all the information legally required  </li>
<li>failed to complete the work within the time period specified or a within a reasonable time</li>
<li>carried out work while unregistered.</li>
</ul>
 The work Mr Auld was hired to complete included:
<ul>
<li>demolishing existing bathrooms, plumbing, plastering, tiling and installation of bathroom cabinetry and fittings</li>
<li>installing kitchen splashbacks and stair rails</li>
<li>laying floorboards</li>
<li>painting the house’s interior.</li>
</ul>
As well as the fine, Mr Auld was also ordered to pay $250 in court costs.
All fines must be paid to the Domestic Builders Fund. 
 
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Melbourne builder caught taking 40% deposit of contract price

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Three 2.32-hectare allotments of land have been snapped up by private owners, as the NSW Department of Planning &amp; Environment auctioned off a former quarry site at Castlereagh, near Penrith.
Lots 11, 12 and 13 Smith Road, Castlereagh, were released by the government following a reclamation process.
“As the site was formerly home to a quarry, this land sale has been 6 or 7 years in the making, following a significant number of studies and land works to ensure the blocks were suitable for sale,” said selling agent Lori Howell of Raine &amp; Horne Penrith &amp; Mid Mountains.
<img src="/images/2015/11/26/700_Raine.jpg" alt="" width="558" height="372">
She said there were more than 200 enquiries, with 25 registered bidders at auction. 
Lot 13, which backs onto the Nepean River and has direct riverfront access, went well above its reserve after a bidding war which drove up the price to $1.501 million.
Lot 12 sold for $1.205 million, while Lot 11 fetched $980,000.
“To say the interest in these properties was huge would be an understatement, and their quality and location ultimately made them easy to sell,” added Ms Howell.
The more than 130-year-old quarry in Castlereagh closed down earlier this year. Material from the quarry was used to build the Sydney 2000 Olympic venues.
The government plans to transform the site into a series of recreational lakes and housing, according to a report in the Daily Telegraph.
The lots are neighboured by Princes Farm, the equine facility of the late Melbourne Cup king Bart Cummings, and Huntington Estate, a luxury 12-acre property formerly owned by trucking industry veterans Pam and Albert Hunt of Hunt Specialised Transport.
“The land was leased for many years by Princes Farm for running their horses, so the land definitely has a thoroughbred reputation.”
Howell says her equestrian background also helped her win the listing.
“The property was originally put up for tender by the government, and as part of my process I ended up walking every inch of the land to get a real feel for it," she said.
“I found that with my background in show horses and judging, and the fact that the property had been used by Princes Farm for equestrian purposes, this gave me some great inside knowledge of the lay of the land, which ultimately helped me win the tender."
 
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Castlereagh lots snapped up as NSW government auctions former quarry site

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Mount Druitt - and the 2770 postcode - was identified as one of the most affordable rental suburbs closest to the Sydney central business district, according to Australia's first rental affordability index.
The index is a joint project between peak housing advocate National Shelter, Community Sector Banking and SGS Economics &amp; Planning.
Property Observer went looking for select properties for rent in Sydney's Mount Druitt and came up with a range. Here's the highest, the lowest and a couple in-between:
1. A four-bedroom duplex at <a href="https://www.realestateview.com.au/rental-properties/20a-druitt-street-mount-druitt/Property-Details-rent-residential-9781276" target="_blank">20A Druitt Street, MOUNT DRUITT 2770</a> (above) available for $550 a week tops the rentals. The property last traded for $360,000 in 2012.
2. A three-bedroom house on <a href="https://www.realestateview.com.au/rental-properties/15-anderson-avenue-blackett/Property-Details-rent-residential-9780114" target="_blank">15 Anderson Avenue, BLACKETT 2770</a> (below) is available for $380 a week. The house sold in March for $440,000 at a gross rental yield of 4.49%.
<img src="/images/2015/11/25/15-Anderson-Avenue-Blackett-NSW-2770-Real-Estate-photo-1-large-9780114.jpg" alt="" width="569" height="427">
3. A three-bedroom unit at <a href="https://www.realestateview.com.au/rental-properties/2-11-13-durham-street-mount-druitt/Property-Details-rent-residential-9776667" target="_blank">2/11-13 Durham Street, MOUNT DRUITT 2770</a> (below) tops the rentals for apartments at $420 a week. The unit sold for $398,000 in 2014 at a gross rental yield of 5.49%.
<img src="/images/2015/11/25/2-11-13-Durham-Street-Mount-Druitt-NSW-2770-Real-Estate-photo-1-large-9776667.jpg" alt="" width="505" height="379">
4. The bottom one is a two-bedroom unit at <a href="https://www.realestateview.com.au/rental-properties/16-28-hythe-street-mount-druitt/Property-Details-rent-residential-9552616" target="_blank">16/28 Hythe Street, MOUNT DRUITT 2770</a>, (below) available for $280 a week. The property last traded in 2007 for $145,000.
<img src="/images/2015/11/25/16-28-Hythe-Street-Mount-Druitt-NSW-2770-Real-Estate-photo-1-large-9552616.jpg" alt="" width="416" height="312">
The median sale price of a house in Mount Druitt is $520,000 with a median gross yield of 3.9%, according to <a href="/news">www.propertyvalue.com.au</a>.
The median rental is $390 per week and it sits at 808 across NSW, according to the data.
For apartments, the median sale price is $331,000 with a median gross yield of 5.3 percent. 
The median rent is $340 per week, which is well below the national average of $390 per week.
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Mount Druitt rental affordability: What landlords are asking from tenants

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In the latest run of retail sales in regional Queensland, Gympie’s Southside Town Centre neighbourhood shopping centre has sold for $28.3 million.
Unlisted public company AHC Ltd sold the centre to a private investor on a passing yield of 6.53%.
Southside Town Centre is positioned on a two-hectare site at 1 Woolgar Road at Southside, about two kilometres from Gympie CBD.
The shopping centre, which opened in December 2011, is anchored by Woolworths spread over 3,102 square metres and supported by a discount variety store and 12 specialty tenants including a medical centre and pharmacy.
The site also includes a freestanding Caltex Service Station and Star-Mart, with prospects for a future fast food outlet on an adjacent undeveloped pad site.
The property is underpinned by a 20-year lease to Woolworths until 2031, and over 50 percent of the total rental income is from Woolworths and Caltex.
There is parking for 343 vehicles.
The property was marketed by Peter and Jon Tyson of Savills via an expressions of interest campaign that attracted over 150 buyer enquiries. 
Shopping centre investments, supported by major anchor supermarket tenants, in regional locations are in demand as investors look beyond the suburban Brisbane market for both opportunities and yield, said Peter Tyson.
“The sale of the Southside Town Centre continues this trend and highlights the growing demand for well-established and strongly performing retail assets in regional centres such as Gympie,” he said.
Savills recently sold the Banora Central Shopping Centre, south of the Gold Coast, for $19 million to a private investor at a passing yield of approximately 6.49%.
The 13,340sq m site on the corner of Leisure Drive and Fraser Drive at Banora Point, was built in 2007 and features a Coles supermarket, three specialty shops, one kiosk and two ATMs and extensive partly covered grade-level parking. 
Jon Tyson of Savills said with only four specialty tenants, the asset offered strong income security and little or no leasing risk.
"This feature, coupled with a low management requirement, was of particular appeal to investors," he said.
"It was this income security and ease of management that set the centre apart from other assets."
 
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Savills sell Queensland's Gympie shopping centre for $28.3 million

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Turkish investment trust Nurol REIT has chosen Raine &amp; Horne Dubai as its lead agency to market an extensive AED 3 billion (AUD $1.12 billion) Turkish real estate portfolio to Gulf Cooperation Council (GCC) states.
Nurol REIT is a US$25 billion (A$34.76 billion) business conglomerate, and is significantly involved in Dubai’s Jumeirah Park and Jumeirah Village Triangle, and Saadiyat Island in Abu Dhabi.
The property portfolio, located in Istanbul, Turkey, includes Nurol Life, a luxury residential apartment tower in the heart of the city and a mixed-use community Nurol Park close to Ataturk Airport.
Nurol Park is classified as prime Istanbul real estate and comprises two commercial buildings, eight residential towers and a hotel.
The third asset, Nurol Tower, is located next to Istanbul Court and comprises affordable residential and office properties. 
“The decision to appoint Raine &amp; Horne Dubai as the lead agency makes plenty of sense, as a large chunk of Turkish real estate sold to foreign buyers is purchased by GCC investors,” said Angus Raine, executive chairman, Raine &amp; Horne.
Since the liberalisation of the foreign investment laws in Turkey in 2012, GCC investment in the country's property sector has risen by 500%, while the Gulf states account for nearly a quarter of the foreign buyers, at 24%, according to Dubai-based property research firm, REIDIN.
“High capital growth and great investment propositions, combined with a raft of important future infrastructure projects and secure legislation and regulation, means Turkey is a key market for property investors, and our buyers in the Gulf are demonstrating their confidence in Istanbul's healthy property market," said Sanjay Chimnani, Joint Managing Director of Raine &amp; Horne Dubai.
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Raine & Horne to market Turkish property portfolio to GCC

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The NSW government is selling eight properties in Sydney and major regional cities through Burgess Rawson auction on December 8.
All are on long leases of 5 plus 5 plus years with the tenant paying all outgoings.
The rental increase is a fixed 3%.
Net incomes range from $23,445 per annum to $335,760 per annum.
The properties are at Bathurst (Robin Hill), Cessnock, Deniliquin, Grafton, Mittagong (Welby), Penrith, Unanderra (Wollongong) and Tweed Heads.
Service NSW, and the remnants of the RTA are the typical tenants.
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NSW government selling eight properties through Burgess Rawson auction

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Two adjacent properties in Melbourne's Hawthorn East, placed on the market together, fetched $1,770,000 at auction, equating to more than $4,600 per square metre.
The properties at <a href="https://www.realcommercial.com.au/property-land+development-vic-hawthorn+east-501745514" target="_blank">5 &amp; 7 Redfern Road</a> comprise a total site area of 384.2 square metres, creating a larger site for future development.
The buyer, a local developer, intends to develop the site into a boutique residential apartment project, subject to planning approval. The site is zoned Commercial 1.
The property, which features two titles and a rear 6.4 metre wide carriageway access, is close to shopping areas, cafes and railway station.
Ian Angelico and Jarrod Moran of CVA Property Consultants sold the property along with the Melbourne Commercial Group.
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Melbourne's Hawthorn East site fetches $1.77 million at auction

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

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