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Singapore-listed Cache Logistics Trust has agreed to buy a warehouse near Brisbane from One Funds Management Ltd for $27 million, as it increases its footprint in Australia.
Cache had earlier this year acquired three other distribution warehouses. 
The latest warehouse at 203 Viking Drive, Wacol will be fully master-leased to Western Star Trucks Australia Pty Ltd, with an annual rental escalation of 4% per annum, until August 2023.
WSTA, a wholly-owned subsidiary of NYSE-listed Penske Automotive Group3, is the exclusive importer and distributor of trucks and other commercial vehicles in Australia.
PAG has a market capitalization of approximately US$4.6 billion.
CBRE’s Ed Bull negotiated the sale having received five offers for the modern single-storey warehouse with two levels of ancillary office.
Located 18 kilometres west of the Brisbane Central Business District the property completed in 2008 is 22,440 square metres with a gross lettable area of 13,363 sqm.
Daniel Cerf, the chief of Cache, said the long WALE of 7.9 years by lettable area will also lengthen Cache’s portfolio WALE to 4.6 years and strengthen its ability to deliver regular and stable distributions to unitholders.
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j.ballantyne1990-6AQqhLzZaK

Brisbane industrial warehouse sale to Cache Logistics

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Apartments in Bondi Junction are securing a median gross yield of 4.1%, the latest data from propertyvalue.com.au shows.
The median selling price of units in the Sydney eastern suburb sits at $819,000, with a median price change up 18 percent annually.
The median apartment rental was $650 per week, placing the suburb at 40th across NSW.
Up for grabs currently is an executive <a href="https://www.realestate.com.au/property-apartment-nsw-bondi+junction-120381681" target="_blank">apartment at 1003/80 Ebley Street</a> with a price tag of $895,000 through Stella Gankin and Marina Makhlin of R&amp;W.
The one-bedroom unit and study is currently used as a furnished executive rental averaging $1,000 per week with an occupancy between 80%-86% per year.
Median rentals in Bondi Junction have grown steadily over the last decade, nearly doubling from $330 in 2005. 
Over the last 12 months, 130 units have sold in the area averaging about 23 days on the market, data from <a href="/news">propertyvalue.com.au</a> shows.
Bondi Junction is spread over an area of nearly one square km and its population has grown at a rate of 7% over a five-year period from 2006 to 2011, data from the Australian Bureau of Statistics shows. In 2011, it had a population of more than 8,600.
Owner-occupied homes in the suburb fell slightly to 46.4% in 2011 from 48 percent in 2006, the data showed.
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Bondi Junction apartment rentals yields investors $650 median a week

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With vacancy rates resting at 5.5%, landlords in Darwin are being urged to pay particular attention to worthy tenants to help protect them against an empty property this wet season.
“The reality is that there’s still a surplus of 1,200 rental properties in the Darwin market, the same figure as 6-8 months ago,” said Glenn Grantham, general manager of Raine &amp; Horne Darwin.
“The market is levelling out with virtually the same amount of new tenants and new rental properties hitting the market every month.”
Raine &amp; Horne Darwin, for example, is averaging 20 new managements a month and 20 new leases.
“We’ve consistently had about 25 vacant properties at the end of each month for the past six months. Yet we’ve been putting on 20 new managements and leasing around the same number of rental properties. This means we have a lively rental market, but the new activity isn’t eating into the surplus – it’s a zero sum game,” said Mr Grantham.
With the Darwin investment market seemingly put on hold for a time, Mr Grantham warns that the duty rests on the shoulders of landlords to be sensible about their expectation regarding appropriate weekly rental.
For landlords who are facing the end of a lease, Mr Grantham advises them to open the lines of communication with the tenant before trying their luck on the market.
The housing markets in the northern suburbs of Darwin such as Millner, Jingili and Moil continue to show strong results, with yields of 5.5% still possible and vacancy rates below the Darwin average.
“There are 350 two bedroom apartments sitting vacant in Darwin, so this market still has some way to go” said Mr Grantham.
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Wet season Darwin landlords urged to move early to keep quality tenants‏

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A private investor has quickly purchased a brand new industrial facility in Eastern Creek’s Turn4 subdivision for $2.55 million, setting a new price record in the Western Sydney region in the process.
Located at 78 Peter Brock Drive, the property comprises a 1,113sqm building situated on a 2,039sqm site.
The building offers concrete panel construction, a column free warehouse with 8.8 metre internal clearance, two roller shutter doors and a ground floor reception area.
CBRE’s John Micallef and Matt Flynn, who negotiated the sale on behalf of a private owner, said there were a number of interested parties pursuing the property due to a lack of stock on the market, as well as the quality of the development. 
Located in the Eastern Creek industrial precinct, the property offered an opportunity to acquire a freestanding asset in Western Sydney’s industrial market.
The property was sold with vacant possession, however, the purchaser has appointed CBRE to lease the property.
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Investor stakes $2.55m claim on new Eastern Creek facility

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Offshore investors dominated commercial property sales activity in Australia in Q3, snapping up over half of the $8.6 billion in property traded during the period according to new CBRE data.
CBRE’s sales analysis takes into account sales of retail, industrial and office property valued at over $5 million.
It shows that offshore buyers accounted for 56% of total sales, by value, during the quarter under research - marking the highest proportion recorded in the ten years of CBRE records.
CBRE’s Australia head of research, Stephen McNabb said the high level of overseas purchasing activity had pushed total sales in the quarter 8.5% higher than the corresponding quarter last year. 
The current level of transaction activity may eventually reach or even eclipse the record $29.6 billion in annual sales recorded during 2014.
“The major source of new capital has been China, with Australia attracting close to 25% of the US$6.5 billion in Chinese investment capital released into global real estate markets in the first half of this year.” said Mr McNabb.
CBRE executive managing director in capital markets, Mark Granter said the surge of Chinese capital had been initially driven by private investors and developers but was now being also propelled by major institutional investors.
Singapore’s Ascendas Real Estate Investment Trust was very active during the period of investment, having snapped up a portfolio of 26 logistics properties from GIC in a deal valued at $1.01 billion. 
Another major Australian acquisition in Q3 included the $2.5 billion purchase of the Investa portfolio by China Investment Corporation. 
Mr McNabb noted that net investment position of offshore investors continued to grow and now totalled $24 billion since 2006.
However, he also brought attention to the fact that a number of the larger offshore transactions in Q3 – such as that of the GIC portfolio – involved sales by existing offshore owners.
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Foreign investment in Australian commercial property reaches new highs‏

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Investors continue to show a strong appetite for main road convenience retail centres, making them one of the most sought after bite-sized commercial property investments in the current market.
The Holland Place Convenience Centre at 926 Logan Road at Holland Park West in Brisbane’s inner south-east is the latest centre to be traded, sold for $3.4 million on 5.97% yield.
In a deal negotiated by Michael Harcourt of Savills, the fully-leased centre was sold on behalf of Ken Woodley, the co-founder of Metro Property Development.
Mr Woodley held the Holland Place Convenience Centre as a personal investment.
Its sale is the second such convenience centre that Savills has sold for him in recent years, following the sale of the Sherwood Court convenience centre in Brisbane’s south-west for $3.9 million in 2013.
Mr Harcourt said that Mr Woodley has divested his investment portfolio in favour of long term leased service station investments.
Mr Harcourt said the Holland Place Convenience Centre presented a highly attractive investment opportunity.  
He said the centre is fully leased to a mix of retail operators including a Friendly Grocer supermarket, a Thai restaurant, bakery and hairdresser.
“The centre has enjoyed an excellent history of tenancy occupation and its success is underwritten by its prominent left-hand outbound location on one of the busiest arterial roads in Brisbane, within just five kilometres of the CBD,” he said.
Mr Harcourt said the sale highlights the strength of the sub-$5 million retail investment market, in particular well-established and prominently located convenience centres.
"High quality convenience centres in main road locations are continuing to attract strong demand from private investors in the current market.”
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Holland Place Convenience Centre sells for $3.4 million‏

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A local investor with ties to Malaysia has paid $15 million for a Bourke Street, Melbourne property on a yield of just over 3% in a deal brokered by Savills’ directors Clinton Baxter and Nick Peden.
Mr Baxter said the resulting 3.07% yield for the <a href="https://www.realcommercial.com.au/property-retail-vic-melbourne-501662393" target="_blank">384-386 Bourke Street</a> property was a further demonstration of the ongoing yield compression for well-located freestanding CBD properties while the land rate of $29,182 a square metre also underscored investor’s continuing confidence in the market.
"Whilst some pundits were predicting an easing of land values following Planning Minister Wynne’s recent announcement of interim planning controls, this transaction along with our recent sale of 10-16 McKillop Street ($10.5m) illustrates that land values remain strong with investors appreciating that over the long-term the CBD built environment simply must increase in density to accommodate our rapidly rising population.
Mr Peden said interest in the property had been driven by the property’s location just 60 metres from the Bourke Street Mall, the large 514 square metre site with two street frontages offering significant future value-add potential, and the lease to longstanding blue-chip tenant, OPSM.
“The property’s numerous attributes attracted extremely strong interest throughout the sale campaign, particularly from offshore groups, eventually selling to a local investor with strong links to Malaysia who wishes to retain the property as-is as a long-term investment.
He said the three level building was sold subject to a lease to OPSM at a net rental of $460,576 per annum.
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OPSM’s Bourke St Melbourne building sells for $15 million

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A Melbourne based investor has outbid four other potential purchasers at the auction of an East Melbourne retail property with a final bid of $3.025 million.
It sold through Savills Australia in conjunction with MGO Property.
Savills’ Nick Peden and Jesse Radisich, and MGO Property’s Martin O’Halloran, said the <a href="https://www.realcommercial.com.au/property-retail-vic-east+melbourne-501678397" target="_blank">74 Wellington Parade</a> property drew 120 enquiries.
There was an auction crowd of more than 60.
Located on the corner of Simpson Street, the property comprises a two level retail building with retail and office uses on the ground floor and office upstairs on a 193 square metre site with six metres frontage to Wellington Parade and 28 metres to Simpson Street.
Mr Peden said the property was sold fully-leased to two tenants at a total income of $95,576 net.
Mr Radisich said the high profile position and the close proximity to the MCG and Jolimont Railway Station, along with Wellington Parade traffic, provided a particularly strong retail catchment.
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East Melbourne retail opposite MCG fetches $3 million‏

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Property and business services along with government/community organisations have been the key drivers of Melbourne’s CBD office leasing market over the last five years, according to Savills Australia research.
The two sectors accounted for a combined 70% of square metres leased in the 12 months to June while the finance &amp; insurance sector which in 2012 accounted for 38% of CBD leases has fallen to just 8%.
According to Savills’ Victorian head of research, Glenn Lampard, the figures reflect the divergent policies of Liberal and Labor governments, the rapid rise of the education sector and the enormous amount of money that has been poured into property investment over recent years.
The burgeoning education sector had been a key driver of the progressive rise in the amount of space being taken up by the government/community sector with student numbers nationally on track to reach a new record of circa 660,000 by year’s end (based on March quarter Department of Education data) with the bulk of those students in Sydney and Melbourne.
"As is usually the case the election of a Labor Government saw an increase in public service numbers and necessarily, the amount of space leased, while the lure of Melbourne’s highly regarded education sector coupled with the fall in the Australian dollar has bolstered an already strong education sector.
"Property and business services have also been boosted by the movement of the dollar which has helped to drive the strongest property investment market in a decade,’’ Mr Lampard said.
He said the apparent collapse in the finance and insurance sector’s share of the leasing market was a product of the major institutions, including NAB and ANZ, having concluded long term leasing agreements in the year to June 2012, requirements which would not come back to the market for several years.
Melbourne’s education market accounted for upwards of 300,000 square metres, a market which, according to 1987 figures, accounted for only around 20,000 square metres of CBD space.
Mr Lampard said the CBD fringe market had shown a similar profile with Property and Business Services (47%) along with Government/Community tenancies (28%) accounting for 75% of the market and Finance &amp; Insurance, which peaked in 2012 at 36%, taking just 9% of leases concluded in the 12 months.
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Burgeoning education sector dominates Melbourne leasing market

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National fund manager Primewest has capitalised on strong investor appetite for A-grade commercial property with the sale of one of its flagship Western Australian assets, 53 Ord Street in West Perth for $59 million.
CBRE’s Peter Agostino and Andrew Woodley-Page negotiated the sale of the A-grade asset on behalf of <a href="https://www.primewest.biz/portfolio/article/53-ord-st/" target="_blank">Primewest to Singaporean real estate fund manager, Mapletree</a>.
The property was part of a portfolio listed for sale by Primewest earlier this year, with other assets including a 50% interest in a St Leonards office tower in Sydney and five additional office assets in New South Wales, Victoria and Queensland.
Listed for sale via expressions of interest, the West Perth landmark building comprises 6,864sqm of commercial space over six levels, offering high quality office accommodation with versatile floor plates of approximately 1,400sqm. The property also offers excess land for further development in the future.
CBRE sold the property to Primewest in June 2009 for $41.5 million and have retained management of it since.
Primewest’s John Bond said the sale of the portfolio had tapped into the strong interest from local and international institutions, as well as large scale individual investors seeking high value, quality Australian assets.
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Primewest capitalises on investor demand with West Perth office sale

Too often, heritage buildings become the podium for a contemporary tower. At <a href="https://www.apartments.com.au/new-apartments/623-collins-607-623-collins-street-melbourne-vic-3000">623 Collins</a>, <a>Sterling Global</a> challenged its design team to reverse that process.

The brief to <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> was deliberately simple: "Don't design around the heritage. Design from it." It became the philosophy behind a project that draws inspiration not only from two landmark heritage buildings, but from Collins Street itself, a street layered with architectural history and civic significance.

That philosophy has shaped one of <a href="https://www.apartments.com.au/developments/melbourne-vic-3000">Melbourne</a> CBD's most considered residential projects, where the 1924 State Savings Bank and neighbouring Batman's Hill Hotel have become the architectural foundation for 623 Collins rather than remnants preserved beneath a new development.

[smartcode_project:default project_id=145324 project_image_fid=372749]

Rather than approaching the site as a blank canvas, <a href="https://www.apartments.com.au/developers/sterling-global">Sterling Global</a> saw the existing buildings as the beginning of the story.

"Sites like this rarely become available," the developer said.

"623 Collins wasn't simply an opportunity to develop a prominent CBD site. It was an opportunity to restore and reimagine one of Melbourne's important heritage landmarks while contributing to the continued evolution of Collins Street. For us, the existing buildings weren't constraints. They were the beginning of the story."

Instead of mimicking the ornate heritage architecture, Plus Studio studied the proportions, rhythm and craftsmanship of the original buildings before translating those characteristics into a contemporary 42-storey tower.

[smartcode_project:default project_id=145324 project_image_fid=372748]

"The brief challenged us to create a contemporary landmark that respected Melbourne's architectural history without becoming nostalgic," Plus Studio said.

"Rather than mimicking heritage, we sought to understand its proportions, rhythm and material language before translating those qualities into a distinctly contemporary architectural expression."

The practice says the State Savings Bank and Batman's Hill Hotel became the project's primary source of inspiration, allowing the heritage buildings and contemporary architecture to exist "in conversation rather than contrast." Generous planted terraces further soften the transition between old and new, creating elevated green spaces while reinforcing the dialogue between the restored podium and the contemporary tower.

That dialogue continues throughout the interiors, where Melbourne designer Fiona Lynch developed a material palette inspired by the idea of alchemy, balancing contrasting materials that reference both the Neo-Grec detailing of the original bank and contemporary urban living. The result is a series of spaces that feel timeless rather than trend-driven.

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The project will deliver 316 residences across four collections, Heirloom, Signature, Reserve and the Penthouse Collection, with each responding differently to its position within the building, from the restored heritage podium through to the upper levels of the tower. The Heirloom Residences retain defining heritage elements including original heritage windows, generous proportions and high ceilings, while the tower introduces contemporary homes with expansive layouts and elevated views.

Amenities have likewise been designed to support long-term city living rather than short-stay convenience. Residents will have access to concierge services, wellness facilities including a pool, cold plunge, sauna, steam room and gym, alongside private lounges, entertaining spaces and dedicated resident clubs.

Sterling Global says that approach is resonating with buyers seeking permanence rather than novelty.

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According to the sales team, purchasers are looking for enduring architecture, generous floorplans, heritage character and long-term value, with many commenting that 623 Collins "doesn't feel like another apartment development" because of the way the architecture has been curated around the site's history.

Situated on the prominent corner of Collins and Spencer streets, the project occupies one of Melbourne's most recognisable gateway sites, marking the western entrance to the city's best-known street. For Sterling Global, it also reflects a broader shift in city-making.

"Rather than maximising development yield, the project embraces adaptive reuse as a design philosophy, allowing heritage to inform architecture, interiors and the overall resident experience," the developer said.

"The result is a building that feels uniquely connected to Melbourne."

[smartcode_project_cta:default project_id=145324]

Joel Robinson

How Sterling Global designed 623 Collins from Melbourne's history

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.

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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.

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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.

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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.

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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.

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<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.

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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.

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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.

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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]

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