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A purpose-built OneSteel Reinforcing property in Bundamba’s Citiswich Business Park in Brisbane has been sold to a Sydney-based private investor for $3.784 million.
The 48 Hawkins Crescent property is spread over 5,586 square metres in one of Brisbane’s fastest growing industrial growth corridors.
The Citiswich Business Park is a retail and manufacturing hub designed to cater for heavy industrial users.
It is home to companies such as The Reject Shop, Australian Pharmaceutical Industries and Masters.
Sam Stewart and Shaun Canniffe of JLL Industrial brokered the sale of the property, which attracted close to 50 enquiries.
Despite being purpose built for OneSteel Reinforcing, the 2,045 square metre facility hosts a generic floor plate packed with features to suit a wide range of industrial users.
With a guaranteed income until September 2019, and high levels of long-term growth predicted in the area, the property offers attractive future returns.
“The buyer saw significant value in the sites proximity to transport infrastructure and direct exposure to the Warrego Highway,” Shaun Canniffe said. 
For vendor Investec Australia Property Fund, the deal was about exiting a non-core asset at a good price.
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Industrial property in Brisbane's Citiswich sells for $3.78 million

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Stockland has announced it will expand its Green Hills Shopping Centre at East Maitland in the Lower Hunter Valley of New South Wales.
It comes with an estimated $377 million cost.
Upon completion by mid-2018, the gross lettable area (GLA) will more than double to about 70,000 square metres. 
It has secured an agreement for lease with David Jones, which will open a 6,225 square metre single-level department store at the centre in 2018.
Other tenants include Big W, Target and the biggest Dan Murphy’s store in the trade area.
A concept JB Hi-Fi Home store is also planned and another by South African retail group Pepkor’s Harris Scarfe, which will have homeware and clothing.
Stockland Green Hills is already home to Coles and one of the best-performing, full-line Woolworths supermarkets in Australia.
An additional 141 speciality stores will take the total number to more than 225 stores. The centre’s existing mini-majors will be retained and improved, including Best&amp;Less, Reject Shop, Blooms the Chemist and Hot Dollar.
Preliminary site establishment works will start immediately, but the major construction works will be deferred until the new year so as not to disrupt the pre-Christmas retail trading season.
Brookfield Multiplex is the lead contractor on the project.
The new precinct will have a garden courtyard, outdoor pavilion dining area fronting Mitchell Drive and the car parking will be nearly doubled to 3,100 spaces. 
“We’ve identified Stockland Green Hills as a highly accretive redevelopment opportunity. It’s already one of the most productive centres in Australia and this expansion will enable us to capture a portion of the estimated $867 million of escape expenditure that leaves the primary trade area every year,” said Mark Steinert, managing director and CEO of Stockland.
The recamp is expected to deliver an incremental internal rate of return (IRR) of more than 12 % in the 10 years post-completion and an incremental, stabilised funds from operations (FFO) yield of just more than 7 %.
The project is estimated to create more than 1,350 direct jobs during construction and more than 2,150 indirect jobs. On completion, the centre will create more than 1,250 jobs in retail, customer service and hospitality and an estimated 1,200 indirect jobs for local suppliers and service providers within the regional economy.
Stockland Green Hills's current specialty retail sales productivity is $14,275 per square metre.
In November 2014, Shopping Centre News named Stockland Green Hills as the top performing centre for specialty sales in its Little Guns survey of shopping centres between 20,000 and 50,000 square metres.
As part of the redevelopment, Stockland also plans to invest around $1.6 million to increase the centre’s solar power generation capabilities with the installation of a 700kW photo-voltaic system and is aiming for a minimum 4 Star Green Star Retail Design and As Built ratings for the project.
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David Jones heads to Maitland as Stockland embark on $377 million Green Hills redevelopment

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The last remaining commercial development site at 310-312 Governor Road in Melbourne's Braeside has sold for $3.3 million, inclusive of GST.
It was a 1.02 hectare site.
The property designated as Stage 2 of the development, was bought by developer Hermal Group.
“The green field site, the last available development property facing the busy Governor Road, sold with a development plan and permits in place for 22 warehouses and five showrooms, the latter along the Governor Road frontage,” said selling agent DBRE’s James Davie.
The property has a planning permit approved by the local Kingston City Council. It adjoins an initial Stage 1 development of office-warehouse units.
Davie says the permit provides for a set back from the main Governor Road frontage with the warehouse lots with site areas ranging from 170 to 450 square metre with onsite car parking. 
“The Hermal Group is proposing to start construction of the office-warehouse units on site virtually immediately and they will be available for pre-completion purchase commitments in a range from $350,000 to $650,000,” he said.
DBRE will also market Stage 2. 
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Commercial site in Melbourne's Braeside sells for $3.3 million

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Canberra’s office market is showing tentative signs of recovery, with leasing up threefold on the last 12 months, according to Savills’ latest Canberra office briefing.
It follows recent major cuts in public sector jobs and workspace ratios along with new green office requirements, which had seen the vacancy rate reach 15.3 %.
While the market was currently experiencing negative net absorption, the speculative development phase had ended and the 2015 federal budget did not indicate more public sector job cuts, according to Savills’ NSW research analyst Houssam Yakzan.
"The situation that the Canberra office market finds itself in at the moment is the result of a coincidence of opposing forces, including the election of a conservative government, which traditionally sees a reduction in the size of the public sector workforce, and the occurrence of a speculative construction cycle," he said.
"Both of those factors now appear to have come to a head. Over the next 10 years we expect to see a forecast rise in white collar employment delivering positive net absorption and we could see the beginning of that improvement in 2015/2016, however that improvement will also be tempered by negative net absorption in C and D grade buildings,’’ Yakzan said.
According to figures from Deloitte Access Economics, white collar employment is expected to grow at an average of 1 % per annum from 2017/18 to 2024.
Yakzan said less than 10,000 square metres of new and refurbished space was currently under construction with no further development in the pipeline. He said any other mooted supply would require significant pre-commitment for construction to take place.
"We expect any tenant demand during this period to be predominantly satisfied by existing stock given the current availability of space,’’ he said.
Savills divisional director, sales and leasing, Theo Dimarhos, said the market was showing signs of recovery with leasing in the 12 months to September tripling from the 12 months prior to 106,724 square metres, and also up on the five-year average of 100,300 square metres.
"These are already translating into lower vacancy rates in some areas of the market, indeed the high vacancy rate can be a little misleading in that it does not accurately reflect vacancies across the markets."
He said it was the secondary stock at 16% plus which distorted the overall picture.
"In the A Grade market Barton, and Belconnen, Woden and Tuggeranong town centres are performing quite well recording sub-5% vacancies, a result which compares well with most other capital city markets,’’ Dimarhos said.
The Canberra market had grown by 1.4% in the last 12 months, the second largest rise nationally behind Perth, the report said.
It found net face rents in Civic had not moved over the last 12 months and ranged between $328 and $390.
As for investments, office transactions totalled $152 million during the period with A Grade yields in Civic – which accounts for nearly 30 % of the market – currently between 6.75% and 8.5%.
Trusts were the key buyers with 53 % of purchases.
The most recent sales include that of 64 Allara Street, which sold for $16.8 million, 54 and 60 Marcus Clarke Street, which sold for a combined $63.26 million, and 20 Allara Street, which sold for $20.5 million.
Dimarhos said he expected yields for prime assets with secure lease profiles to remain strong.
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Canberra office market shows tentative recovery: Savills report

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Australian construction company Built has won a site safety award for its refurbishment of a high-rise office building at 20 Martin Place, which is part of a $1-billion renaissance of Sydney’s central business district.
Built won the Site Safety – Commercial Projects $50,000,001 &amp; Over award for the second year running at a Master Builders Association of NSW Excellence in Construction Awards ceremony. This was Built’s fourth MBA Site Safety award, and the third award recognised in NSW.
The $110-million refurbishment presented a number of challenges like the necessity to retain the building’s structural steel frame. Overcoming this challenge was critical to ensure the developments commercial viability, achieve its environmental objectives and preserve 20 Martin Place’s sizeable 21 storey stature in the heart of Sydney’s CBD.
Built partnered with cloud platform provider Aconex Ltd for the revamp of the building.
The firm wanted to deploy the neutral, cloud-based Aconex collaboration platform at 20 Martin Place because its project team was separated by far-flung geographies and multiple time zones.
Building owner Pembroke Real Estate had several stakeholders in the United States, and the building façade envelope was designed by James Carpenter Design Associates, based in New York. The architects, Crone Partners, were based in Australia.
“It was very important to be able to move information seamlessly between geographies,” said Daniel Graham, Built’s design director.
Built stripped the existing 22-story building down to the underlying steel structure and relocated the core of the building to the north side. This allowed for larger and more flexible office floor plates.
Other changes included the replacement of inefficient building systems and a new, high-performance glass façade that cut operating costs by minimizing the energy needed for lighting, heating and cooling.
With these changes, 20 Martin Place will offer 19,080 square meters of office space and is expected to earn a 5-Star NABERS Energy rating and a 5-Star Green Star As-Built rating.
With help from Aconex, the project team of more than 500 was able to easily access the most up-todate versions of documents and drawings from anywhere. Centralizing correspondence on the platform further improved communications, while limiting rework and cost overruns. By the end of the A$100-million project, more than 230,000 documents were registered on Aconex and nearly 160,000 pieces of correspondence were received.
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Built wins safety award for refurbishing Sydney's 20 Martin Place

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A $200-million mixed-use project combining residences, serviced apartments and retail is planned in North Adelaide, according to its application.
In a dress circle location on Brougham Place with views across the city, the more than 90 high-rise residences are intended to provide living and lifestyle retirement accommodation options through modern and spacious low-maintenance apartments.
The application also includes a 100-key serviced apartment building, ground floor retail, restaurants and cafes.
The planned project is in line with the state government’s plan to reactivate the Adelaide CBD and near-city suburbs such as North Adelaide by attracting more people to live and play in the city.
The two and three-bedroom apartments are expected to be priced mostly in a range of $750,000 and $1.5 million.
 “There are very few options for people in Adelaide’s fringe suburbs looking to downsize their family homes and move into a lock-up and leave lifestyle environment whilst staying close to the things they enjoy - and they’re the needs we’re looking to meet,” says architect Paul Pruszinski.
Pruszinski has previously worked with Adelaide heritage architect Ron Danvers on plans to reinvigorate old stone stables on Ward Street as a licensed café; develop a health and wellness centre on Ward Street; and reinvigorate a heritage-listed period home at 49 Brougham Place as the premier residence in the complex. 
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Plans for $200 million North Adelaide mixed-use project

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Smaller, online and non-bank lenders like ING DIRECT and Queenslanders Credit Union were the winners of Mozo’s People’s Choice Banking Awards, based on reviews from almost 35,000 customers over the past 12 months.
Overall, satisfaction with banks fell slightly to 7.82 in 2015 from 7.85 last year. 
ING DIRECT won Best Bank for the sixth year in a row, Greater Building Society took home its third award for Best Building Society and NAB held its mantle for Best Big 4 for the fifth year running.
“Each year, Mozo recognises the banks we love and trust, giving us a report card of just how we feel about our bank,” said Mozo director Kirsty Lamont.
The awards, in their sixth year, invite Australians to have their say on their banking experience. Customers rate their banking provider on overall satisfaction, price, features, customer service, convenience and trust. Mozo then aggregates these scores to determine the winners. This year more than 170 providers were rated. 
For the favourite banking products, transaction and savings accounts top the charts (8.19 and 8.11), while high interest charging credit cards and personal loans were the least loved (7.10 and 7.19).
“Interestingly, a family’s biggest debt burden, the home loan, had people feeling relatively happy (scoring 7.42) thanks to a low interest rate environment,” said Lamont.
Females aged 18-24 and earning less than $35,000 a year are the happiest with their bank (8.35), while those aged 45-54 and those earning over $180k gave their bank the lowest scores (7.5 and 7.12).
“Interestingly, we’re happiest at the start of our banking life-cycle and over time we become less satisfied the older we get and the more money we have,” said Lamont.
Among the states, Queenslanders were the happiest state, rating their bank an average 7.87 out of 10, followed by South Australia (7.80), Tassie (7.75) and NSW (7.71).
The least happy with their banks were Victoria (7.64), the ACT (7.62), and NT (7.58). 
Mozo People’s Choice Banking Awards overall winners
<table style="width: 424px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="161">
Category
</td>
<td valign="top" width="198">
Winner
</td>
<td valign="top" width="64">
Score
</td>
</tr>
<tr>
<td valign="top" width="161">
Best Bank
</td>
<td valign="top" width="198">
ING DIRECT
</td>
<td valign="top" width="64">
9.05
</td>
</tr>
<tr>
<td valign="top" width="161">
Best Big 4 Bank
</td>
<td valign="top" width="198">
NAB
</td>
<td valign="top" width="64">
7.96
</td>
</tr>
<tr>
<td valign="top" width="161">
Best Credit Union
</td>
<td valign="top" width="198">
Queenslanders Credit Union
</td>
<td valign="top" width="64">
8.99
</td>
</tr>
<tr>
<td valign="top" width="161">
Best Building Society
</td>
<td valign="top" width="198">
Greater Building Society
</td>
<td valign="top" width="64">
8.72
</td>
</tr>
<tr>
<td valign="top" width="161">
Best Mutual Bank
</td>
<td valign="top" width="198">
Hume Bank
</td>
<td valign="top" width="64">
9.30
</td>
</tr>
</tbody></table>
Mozo People’s Choice Banking Awards product category winners
<table style="width: 424px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="161">
Category
</td>
<td valign="top" width="198">
Winner
</td>
<td valign="top" width="64">
Score
</td>
</tr>
<tr>
<td valign="top" width="161">
Best Savings Accounts
</td>
<td valign="top" width="198">
ING DIRECT
</td>
<td valign="top" width="64">
9.29
</td>
</tr>
<tr>
<td valign="top" width="161">
Best Bank Accounts
</td>
<td valign="top" width="198">
ING DIRECT
</td>
<td valign="top" width="64">
9.24
</td>
</tr>
<tr>
<td valign="top" width="161">
Best Home Loans
</td>
<td valign="top" width="198">
Queenslanders Credit Union
</td>
<td valign="top" width="64">
9.05
</td>
</tr>
<tr>
<td valign="top" width="161">
Best Credit Cards
</td>
<td valign="top" width="198">
Bendigo Bank
</td>
<td valign="top" width="64">
8.44
</td>
</tr>
<tr>
<td valign="top" width="161">
Best Personal Loans
</td>
<td valign="top" width="198">
Queenslanders Credit Union
</td>
<td valign="top" width="64">
8.85
</td>
</tr>
<tr>
<td valign="top" width="161">
Best Term Deposits
</td>
<td valign="top" width="198">
Bendigo Bank
</td>
<td valign="top" width="64">
7.89
</td>
</tr>
</tbody></table>
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ING DIRECT tops Mozo's banking awards for sixth year

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Despite some cooling, Melbourne was the hottest housing market in the nation, with Sydney in second place over the past quarter, according to CoreLogic RP Data.
Melbourne and Sydney saw continued easing in the rate of capital gain during October, as values rose modestly by 0.3%, and 0.6% respectively over the month, according to the CoreLogic RP Data Hedonic Home Value Index.
But over the three months Melbourne's 3.1% growth outperformed Sydney's 1.5%, taking their annual growth to 12.8% for Melbourne and 15.6% for Sydney.
National dwelling values across the combined capital city index rose 0.2% over the month of October, were up by 1.4% over the quarter, and 10.1% higher over the year.
<a href="/images/2015/11/Screen%20Shot%202015-11-02%20at%2012.21.31%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/11/Screen%20Shot%202015-11-02%20at%2012.21.31%20PM.png" alt="">
 
The annual rate of growth across the combined capitals index has been easing since July when the index was rising at 11.1% per annum.
Adelaide and Hobart, the perennial laggards, led the nation in monthly growth during October.
According to CoreLogic RP Data head of research, Tim Lawless, a range of factors are contributing to the big capital city slowdown.
“It’s not just the fact that mortgage rates have recently risen outside of any lift in the cash rate. 
"We are also seeing approximately a 30% premium on investment-related mortgage rates, tighter lending standards and borrowers generally requiring a larger deposit.
“Gross rental yields at record lows and affordability constraints are acting as a further disincentive, particularly in Sydney where the median unit price is equal to, or higher than the median house price in every other capital city.
"Additionally, new housing supply is moving through record levels which should help to ease the upwards trajectory of home values.”
Lawless said since the end of 2008, the Sydney housing market has recorded a cumulative capital gain of 77%, while Melbourne values have moved a cumulative 66.6% higher.
"Based on the median selling price at the end of 2008, Sydney home owners have made a gain of about $316,000 from the housing market compared with around $246,000 in Melbourne.”
“While the rate of growth is significant, it is important to remember that this growth is across two cycles; dwelling values were broadly tracking backwards during both the 2008 calendar year and between late 2010 through to mid-2012.”
“The only capital city where home owners have seen the value of their homes move lower since the end of 2008 is Hobart where the CoreLogic RP Data index is down 0.4% (approximately $1,155) since the end of the GFC,” Lawless said.
The weakest housing market conditions are found in Darwin and Perth where dwelling values are down 3.7% and 3.6% respectively over the past year.
The slowdown in resources-related infrastructure spending has hurt the economy and is likely to persist for some time, he said.
“Capital expenditure relating to the mining and resources sector has fallen substantially which means tougher labour conditions and little in the way of migration which has previously fueled housing demand in these areas.”
<a href="/images/2015/11/Screen%20Shot%202015-11-02%20at%2012.12.18%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/11/Screen%20Shot%202015-11-02%20at%2012.12.18%20PM.png" alt="">
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Melbourne notches up strongest quarterly growth: CoreLogic RP Data October index

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An investment property leased to fast-food giant McDonald’s at Norlane in North Geelong fetched $3.05 million at Burgess Rawson's portfolio auction.
Twelve bidders went head to head for the property at the $35 million auction, pushing the yield down to 3.7 percent.
Reflecting strong investor appetite for blue-chip assets on long leases, 400 Melbourne Road was expected to go for more than $2,000,000.
“The low, affordable rental of $117,434 per annum reflects the property being subject to a ground lease with McDonald’s owning the building and all other above ground improvements” said Raoul Holderhead, managing director of Burgess Rawson ahead of the auction.
“With McDonald’s having re-built the building in 2003 and in recent years adding a McCafe, it is safe to say McDonald’s plan is to stay.” 
The lease is for 5 years plus 20 years of options through to 2038 with rental reviews annually to CPI and to market, the next due in 2018 upon the exercise of option.
<a href="https://www.burgessrawson.com.au/3P1137#.ViSSoLSqqko" target="_blank">The 3,277 square metre </a>site with 48 onsite car spaces is almost double that of a normal fast-food outlet.
"The busy and proven location is evident by some 37,000 cars passing the property each day," he said.
The site has been a McDonalds since 1980.
Greater Geelong is a growing regional city of 220,000 plus, predicted to double by 2050, according to the G21 Regional Growth Plan.
Beginning in 1975, Burgess Rawson established a nationwide network of offices and is Australia's largest locally owned and operated commercial property agency, marketing more than 10,000 properties and generating sales in excess of $25 billion over the past 40 years. fro more information, <a href="https://www.burgessrawson.com.au/portfolio-auctions" target="_blank">click here</a>.
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North Geelong McDonald's reaps $3 million at auction

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Believed to be the only remaining convict built dwelling on Sydney’s eastern beaches, the Coachman's House at 34A Yanko Road, Bronte will be sold as part of a property auction on 9 November. 
The heritage listed, freestanding sandstone coachman’s house built around 1859 is being auctioned by Paul Baker of Network Real Estate.
The home occupies the site of the former<a href="https://www.realestate.com.au/property-house-nsw-bronte-120920841" target="_blank"> Yanco Estate</a>. ‘Yanco’ is a Wiradjuri aboriginal language word meaning the sound of running water.  The coachman’s house is part of the legacy of the former grand residence Yanco House, built for Charles Simmons, who was one of the early councillors of Waverley Council. 
Built in hand hewn sandstone, the coachman’s house complete with kitchenette and en-suite could function as a converted artist studio, teen retreat, creative space, granny flat or guesthouse fifth bedroom.
The main residence, built around 1960 after the Yanko estate had been subdivided, is a double story four-bedroom family residence with an ocean view. 
The spelling of ‘Yanco’ changed to Yanko in 1915, when John McLaughlin became owner of the Yanco house estate and changed the name to ‘Yanko Park’. McLaughlin was a solicitor and Member of Parliament. His son Geoff McLaughlin was a Captain in the Australian army during WWI. He served at Gallipoli and died on the Western Front in 1917.
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Heritage listed Coachman's House up for sale at Bronte

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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