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A double storey family home, set in private grounds of 2,386 square metres in Mount Eliza, has been sold for $3.42 million. 
The five bedroom, four bathroom house is situated at <a href="https://www.realestate.com.au/sold/property-house-vic-mount+eliza-131836106" target="_blank">5 Lois Place</a>. 
The home comprises formal lounge &amp; dining reception rooms, gourmet kitchen, family zone with built-in bar and library/home office. 
Other highlights include custom wine wall storage, balcony with bay views, infinity edge pool and guest house with sauna.
The home is situated in the heart of the Golden Mile, only moments to Toorak College, the beach and Mount Eliza Village. 
Michelle Skoglund of Aqua Real Estate Mount Eliza sold the property. 
The house was last sold in 2011 for $1.9 million. 
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Mount Eliza trophy home sold for $3.42 million

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A tri-level Italianate Mansion in Strathfield, NSW has been sold for $3.19 million. 
The 6 bedroom, 4 bathroom home is situated at <a href="https://www.realestate.com.au/sold/property-house-nsw-strathfield-132900402" target="_blank">55 Oxford Road</a>. 
Sitting on a 774 square block, the home comes with multiple living zones, two gas kitchens, three balconies and pool.
Other features include ducted AC, auto gates, intercom and double lock garage plus off street parking. 
Its location is within walking distance to Strathfield Girls, local parks, train station, cafes and shops. 
Norman So and Michael Murphy of Belle Property Strathfield sold the property. 
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Strathfield tri-level trophy home sold for $3.19 million

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An architect designed home on the Victoria's Surf Coast has hit the market with $3.1 million to $3.3 million hopes.
The three bedroom, two bathroom house is situated at<a href="https://www.realestate.com.au/property-house-vic-torquay-133384302" target="_blank"> 261 The Esplanade, Torquay</a>. 
It was built by local builder John Walker and designed by Wolveridge Architects Melbourne.
Situated on a 984 square metre allotment, the home consists 3 bedrooms on the upper level, study or home office, and kitchen with custom bentop tops.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/4/6/torquay%202.jpg" alt="">
The living spaces include lounge/media room with open fire place, and dining and living room opening out onto entertaining area.
Other features include in-ground pool, wine cellar, high ceilings and extensive storage.
The master built home was short listed in the 2013 Victorian Architecture Awards and has been featured in architecture magazines internationally.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/4/6/torquay%203.jpg" alt="">
Its location is within close proximity to the Whites Beach, golf course and clubhouse. 
Tim Carson and Steve Menegazzo of McCartney Real Estate Torquay have the listing. 
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Surf Coast home listed for over $3 million 

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The Commonwealth Government has published a set of good faith leasing principles for commercial tenancies including retail, office and industrial.
It is to operate between owners/operators/other landlords and tenants, in circumstances where the tenant is a small-medium sized business is an eligible business for the purpose of the Commonwealth Government’s JobKeeper programme, i.e. seen a 30 percent fall in its turnover.
The national cabinet agreed that there would be a proportionality to rent reductions based on the tenant’s decline in turnover to ensure that the burden is shared between landlords and tenants.
The Code provides a proportionate and measured burden share between the two parties while still allowing tenants and landlords to agree to tailored, bespoke and appropriate temporary arrangements that take account of their particular circumstances.
National Cabinet again noted that it expects Australian and foreign banks along with other financial institutions operating in Australia, to support landlords and tenants with appropriate flexibility as they work to implement the mandatory code.
The Commonwealth Government is also acting as a model landlord by waiving rents for all its small and medium enterprises and not-for-profit tenants within its owned and leased property across Australia.
The new leasing code is mandatory.
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But all premises are different, as are their commercial arrangements; it is therefore not possible to form a collective industry position. All parties recognise the intended application, legal constraints and spirit of the Competition and Consumer Act 2010.
The parties will take into account the fact that the risk of default on commercial leases is ultimately (and already) borne by the landlord. 
The landlord must not seek to permanently mitigate this risk in negotiating temporary arrangements envisaged under the code.
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All leases must be dealt with on a case-by-case basis, considering factors such as whether the SME tenant has suffered financial hardship due to the COVID-19 pandemic; whether the tenant’s lease has expiredor is soon to expire; and whether the tenant is in administration or receivership.
Leases have different structures, different periods of tenure, and different mechanisms for determining rent. 
Leases may already be inarrears. Leases may already have expired and be in “hold-over.” 
These factors should also be taken into account in formulating any temporary arrangements in line with the code.
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1. Landlords must not terminate leases due to non-payment of rent during the COVID-19 pandemic period (or reasonable subsequent recovery period).
2. Tenants must remain committed to the terms of their lease, subject to any amendments to their rental agreement negotiated under this Code. Material failure to abide by substantive terms of their lease will forfeit any protections provided to the tenant under this Code.
3. Landlords must offer tenants proportionate reductions in rent payable in the form of waivers and deferrals (as outlined under “definitions,” below) of up to 100% of the amount ordinarily payable, on a case-by-case basis, based on the reduction in the tenant’s trade during the COVID-19 pandemic period and a subsequent reasonable recovery period.
4. Rental waivers must constitute no less than 50% of the total reduction in rent payable under principle #3 above over the COVID-19 pandemic period and should constitute a greater proportion of the total reduction in rent payablein cases where failure to do so would compromise the tenant’s capacity to fulfil their ongoing obligations under the lease agreement. Regard must also behad to the Landlord’s financial ability to provide such additional waivers.Tenants may waive the requirement for a 50% minimum waiver by agreement.
5. Payment of rental deferrals by the tenant must be amortised over the balance of the lease term and for a period of no less than 24 months, whichever is the greater, unless otherwise agreed by the parties.
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6. Any reduction in statutory charges (e.g. land tax, council rates) or insurance will be passed on to the tenant in the appropriate proportion applicable under the terms of the lease.
7. Landlords must not draw on a tenant’s security for the non-payment of rent (be this a cash bond, bank guarantee or personal guarantee) during the period of the COVID-19 pandemic and/or a reasonable subsequent recovery period.
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8. The tenant should be provided with an opportunity to extend its lease for an equivalent period of the rent waiver and/or deferral period outlined in item #2 above. This is intended to provide the tenant additional time to trade, on existing lease terms, during the recovery period after the COVID-19 pandemic concludes.
9. Landlords agree to a freeze on rent increases (except for retail leases based on turnover rent) for the duration of the COVID-19 pandemic and a reasonable subsequent recovery period, notwithstanding any arrangements between the landlord and the tenant.
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Where landlords and tenants cannot reach agreement on leasing arrangements (as a direct result of the COVID-19 pandemic), the matter should be referred and subjected (by either party) to applicable state or territory retail/commercial leasing dispute resolution processes for binding mediation, including Small Business Commissioners/Champions/Ombudsmen where applicable.
The national cabinet offered a scenario examples of practical variations reflecting the application of the principle of proportionality may include, but are not limited to:
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 Qualifying tenants would be provided with cash flow relief in proportion to the loss of turnover they have experienced from the COVID-19 crisis ie. a 60% loss in turnover would result in a guaranteed 60% cashflow relief.
o At a minimum, half is provided as rent free/rent waiver for the proportion of which the qualifying tenant’s revenue has fallen.o Up to half could be through a deferral of rent, with this to be recouped over at least 24 months in a manner that is negotiated by the parties
  So if the tenant’s revenue has fallen by 100%, then at least50% of total cash flow relief is rent free/rent waiver and the remainder is a rent deferral. If the qualifying tenant’s revenue has fallen by 30%, then at least 15% of total cash flow relief is rent free/rent waiver and the remainder is rent deferral.
  Care should be taken to ensure that any repayment of the deferred rent does not compromise the ability of the affected SME tenant to recover from the crisis. 
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How the new leasing code works for Australian retail/office/industrial tenants

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The NSW Police bomb squad has reportedly found on an improvised explosive device on a building site in Sydney’s north west being constructed by Dyldam.
Officers from The Hills Police Area Command were called to a construction site on Yattenden Crescent, Baulkham Hills just before 8.40am yesterday morning.
It a suspicious item had been found high in a crane cabin.
<a href="https://www.facebook.com/7NEWSsydney/videos/homemade-bomb-found-at-baulkham-hills-construction-site/819178358604547/" target="_blank">Channel 7 reported</a> it was a homemade device.
Specialist operatives The Bomb Disposal Unit rendered the device safe.
An investigation is now underway into the circumstances surrounding the incident.
The site remains evacuated of its 200 workers.
Dyldam have yet to comment.
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Bomb found in crane at Dyldam's Baulkham Hills construction site

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A prized major infill site at Glen Waverley in Melbourne’s east has been sold for $23 million.
The 583 Ferntree Gully Road property comprises a 16,470 square metre site zoned General Residential with 161 metres street frontage.
Located between the Monash Freeway and Springvale Road and opposite Brandon Park Shopping Centre, the property is currently utilised as an early childhood education centre.
The child education centre is run by the vendor the not-for-profit, bestchance Child Family Care, which will continue to provide childcare services from the retained portion of the site.
CBRE Director Investments, Mark Wizel managed the expressions of interest campaign with Julian White and Chao Zhang in conjunction with Vinci Carbone Property.
According to Mr Wizel, the result was not a surprise despite COVID-19 concerns.
"What we do know is that there is a significantly large group of developers looking at new opportunities – the strong response to the  campaign bore that out – with the knowledge that underlying fundamentals including population growth will ultimately drive demand for new product. 
"The key here was a site with enormous development potential in one of Melbourne’s most dynamic residential growth zones which has seen an extraordinary 16 per cent growth in the median house and unit price over the 12 months to February,’’ Mr Wizel said.
Mr Wizel said while the commercial property market was likely to continue to see asset sales even in the depths of the global health crisis.  
Due to a confidentially clause the developer’s name could not be disclosed.
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Glen Waverley site sells for $23 million

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A trophy home in Mornington, Victoria has hit the market for the first time in over 40 years. 
It has been listed for sale with $3 million to $3.3 million hopes. 
The three bedroom, two bathroom house is situated on two titles at <a href="https://www.realestate.com.au/property-house-vic-mornington-133041834" target="_blank">4-6 Morell Street</a>. 
The home comes with kitchen with granite benchtops, dining and living areas, master suite and two additional bedrooms. 
Other highlights including undercover outdoor entertaining areas, storage rooms, double garage, lawns and green gardens. 
The well maintained home lies within a 100m walk to the beach and main street. 
Leanne William and Vicki Sayers of RT Edgar Mount Eliza have the listing.
A virtual 3D home tour is available. 
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Mornington trophy home offered for the first time in over 40 years

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A Manly freehold apartment with 180-degree coastal views has been sold for $4.05 million. 
The three bedroom, two bathroom home is situated at <a href="https://www.realestate.com.au/sold/property-unit-nsw-manly-133214490" target="_blank">20/122 Bower Street</a>. 
Set on the 6th floor of the Blue Dolphins building, the apartment is just footsteps from Manly Beach. 
It comes with north facing balcony, open plan living/dining/kitchen, and family sized bathroom. 
Other features including new carpets, granite benchtops, and lift access plus lock-up garage. 
Its location is close to restaurants, cafes, ferries and shopping. 
Georgi Bates and Claudia Merkert of Cunninghams Real Estate Balgowlah sold the property. 
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Manly freehold apartment with coastal views sold for over $4 million

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EXPERT OBSERVER
The Real Estate Institute of Queensland (REIQ) is seeking urgent action from the Queensland State Government to assist in maintaining the stability of the Queensland property market in the face of the economic impacts of the coronavirus (COVID-19) pandemic.
Queensland’s residential real estate sector is worth over $1 trillion and employs over 50,000 Queenslanders directly with many more employed in associated industries. Activity within the real estate sector contributes in excess of $30 billion every year to the Queensland Government.
Protecting and sustaining the Queensland real estate sector is critical to safeguarding our property market and supporting our local economy. In order to do so, strong action needs to be taken.
The REIQ has proactively developed a set of recommendations and proposed initiatives that will assist in minimising the potential economic impacts of the coronavirus (COVID-19) on the real estate sector. In order to maintain stability and optimism in the Queensland property market during the coronavirus (COVID-19) pandemic, The REIQ is urgently asking the Queensland State Government to:
a. Extend the First Home Buyers Grant to established housing: Expanding the First Home Buyers Grant beyond new construction will stimulate economic activity through the introduction of increased numbers of first home buyers to the broader property market. 
b. Implement a 50% reduction in development application costs across all Local Governments and introduce streamlined application processes: Removing barriers to development and reducing costs will assist to boost construction levels, increase competition and importantly, reduce cost for the end purchaser.
c. Deliver a 75% reduction in stamp duty for the period of the coronavirus (COVID-19) pandemic: A short-term, but significant, reduction in stamp duty payable on property transactions will have a positive effect on confidence within the property market. This, in turn, will offset the predicted drop in real estate transactions expected during the immediate crisis period. 
Lessening the financial burden of stamp duty in particular will lessen the perceived financial risk and act as a significant incentive to purchasers who may otherwise be discouraged from purchasing during this crucial period.
Similarly, such an initiative would encourage vendors to list their properties during the coronavirus period, buoyed by the likelihood of increased buyer activity.
In the 18 months following the end of the coronavirus (COVID-19) pandemic, The REIQ are urgently seeking the following further stamp duty related reforms to continue to support and stimulate the property market, which include:
a. Removal of stamp duty for persons aged 65+ years: This will encourage older Queenslanders to move into age-appropriate accommodation by reducing the financial burden of such a move. A likely consequence of this would be greater access to housing stock for younger Queenslanders.
b. A 50% reduction in stamp duty where residential investment property purchases are committed to the permanent rental market in Queensland for 3 years or more: A significant reduction in stamp duty for residential investment properties will have the effect of stimulating property investment in Queensland.
c. A 40% reduction in stamp duty for all other residential property purchases: A significant reduction in stamp duty payable on non-investment residential property purchases will have the effect of instilling confidence into the property market and provide incentive to individuals Australia-wide to consider migration to Queensland.
In calling for a 50% reduction in stamp duty for property purchases committed to the permanent rental market for 3 years or more (b), a natural consequence of the Prime Minister’s rental eviction moratorium and similar measure introduced to combat the financial impacts of the coronavirus (COVID-19) is that property investors (current or prospective) are likely to lose confidence in residential real estate as a viable investment option. 
Queensland has rapidly growing residential rental demand, a situation likely to be exacerbated by the financial impacts of the coronavirus (COVID-19). The combination of increased rental demand and decreased property investment is a looming social time bomb. More than 90% of Queensland residential investment property supply is provided by ‘mum and dad’ investors who are most likely to be sensitive to increased risk to their property investment returns.
A significant decrease in stamp duty payable on residential investment properties, qualified by enforceable commitment by investors to making that property available to the permanent rental market, will have the dual effects of stimulating investment confidence and activity. It will position Queensland as a highly attractive investment market and ensure adequate supply is maintained to meet increasing demand.
To support property owner generally impacted by potential reductions in rental income, and households financially impacted by the coronavirus (COVID-19), The REIQ is also urgently requesting the Queensland State Government to facilitate the following:
a. Provide a significant reduction or temporary removal of land tax for the period of the coronavirus (COVID-19) pandemic;
b. Waive local government rates for those who have lost their income as a result of this crisis; and,
c. Implement a 50% discount on local government rates to assist household budgets and assist in stimulating the Queensland economy. 
Finally, to directly support the real estate profession that provide front line contact with participants in the property market and an invaluable service to property owners, investors and tenants, both commercial and residential, The REIQ is urgently seeking the Queensland State Government to:
a. Provide a 12-month extension to all existing licence and registration holders in Queensland, commencing 1 May 2020;
b. Provide Queensland State Government funding to The REIQ to assist it to continue to provide essential resources, training and support to the real estate industry, during the coronavirus (COVID-19) period and beyond; and,
c. Provide Queensland State Government funding to establish a Property Think Tank to identify new initiatives to maintain and regenerate local property markets and create opportunities and jobs within the real estate sector, with the consequential benefit being the continued generation of State Government revenue.
The REIQ believes that it isn’t enough to put money in people’s pockets during this time; instead, we need maintain confidence in the Queensland property market and assist the real estate sector to ride out this crisis and emerge stronger and more resilient for the benefit of all Queenslanders.
The REIQ fundamentally believe these relief package measures will keep Queenslanders employed within the State’s second largest employment sector, keep essential services functioning at this critical time, and most importantly accelerate our State economy’s recovery once this crisis has passed.
ANTONIA MERCORELLA is the CEO of the REIQ 
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REIQ urgently calls on State Government to protect Queensland property market: Antonia Mercorella

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EXPERT OBSERVER
Developers must change their business strategies and pricing for off-the-plan units to avoid insolvency, according to RiskWise Property Research. 
RiskWise CEO Doron Peleg said the selling price of most off-the-plan units should be far more attractive to investors, the majority of off-the-plan buyers, and developers should not expect high property prices.
“In the past three years a few big events have had a major impact on developers and have resulted in bankruptcy,” Mr Peleg said.
“These events include oversupply, credit restrictions, the potential introduction of changes to negative gearing and capital gains tax, construction defects and now coronavirus. The entire business model of developers is based on meeting pre-sales and sales targets and for that they simply need buyers. Therefore, the risk assessment for each project should also address the potential events with a material impact on home buyers and particularly investors.”
He said the best case scenario in areas of oversupply was they simply underperformed the market, but the worst case scenario was they were actually losing money. And these days investors are well aware of these risks.
“For example, while Domain’s House Price Report shows in the 2019 December quarter prices rose 4.3 per cent, this was not the case in suburbs with high oversupply and particularly those affected by construction defects, such as Mascot where prices fell 4.6 per cent to $880,000. In Homebush West, where the Centenary Park building is located, prices also fell 9.3 per cent to $565,000.
“These areas not only have the risk of being in the Danger Zone due to oversupply but also the construction defect risk – and the reputational damage from the construction defects has also carried through to high-rise towers across Australia.
“The number of transactions, which is a key factor when assessing the risk of not meeting pre-sales and sales targets, is often very low. For example, the number of apartment sales in Sydney Olympic Park fell dramatically by 75 per cent following the defects identified in Opal Tower with buyers showing little interest for apartments across the suburb.
“What we are seeing is that new units in high-supply suburbs either resulted in a loss or underperformed the market, even during periods of strong price increases. This has an adverse impact on investor confidence and particularly their expectations regarding the potential price increases of these dwellings.”
Mr Peleg said the introduction of credit restrictions in 2017 completely altered the landscape of the housing market with investors demonstrating their responsiveness to the changes.
Overall investor market share in Sydney decreased between January 2017 to March 2018 from 50.4 per cent to 43 per cent. A similar trend was witnessed in Melbourne with a reduction in investor activity from 39.1 per cent to 34.9 per cent during that period.
“In addition, the potential introduction of the changes to negative gearing and capital gains tax, as RiskWise projected in June 2018, also increased uncertainty and fears due to the creation of two markets (a primary and secondary market) and this led to a major reduction in the sales of units.
“According to the ABS, the number of new homes approved for construction in the month of November 2018, dropped by 2.2 per cent from the previous month and 18.3 per cent from November 2017. Westpac break reported in August 2018 that sales volumes had dropped to a 28-year low.
“The Brisbane unit market is a case study in poor risk management. When a developer pays inflated prices for the land, the risk will be realised, and you will have loss. Even as early as June 2016 in Statistical Area Level 4 (SA4) Brisbane Inner-City, price growth was -1.8 per cent with a massive oversupply of units (17,417 in the pipeline - an addition of 24.5 per cent to the current stock).
“As a developer when you are paying for a piece of land based on the potential selling price of the end product, you must factor in the risks rather than base it on optimistic scenarios. If you do factor in very tangible financial risks, you will see that the fair-value of the lot is lower in comparison to an optimistic scenario. In a vast majority of developments, the lot price is the major variable on the selling price.”
He said the risks included not meeting presales or that sales targets have a major impact on the financial results. Even if the targets are eventually met, the funding costs associated with those targets increase and add up to material amounts. However, even after meeting the presales and sales targets, there’s still a settlement risk that buyers who paid very low deposits could back away from the deal completely if there was a significant reduction in the pre-settlement valuation, and cash flow issues.
Mr Peleg said Covid-19 added another layer of complexity as its significant impact is yet be fully determined.
Meanwhile, there has already been a sharp reduction in auction clearance rates over the past couple of weekends falling to a preliminary rate of 61.3 per cent as of March 22 across the combined capital cities with the final result expected to be in the 50s within a couple of weeks.
The Westpac-Melbourne Institute Index of House Price Expectations Index fell 6.6 per cent in March, the largest monthly decline since February last year.
Risk identification and assessment
“We need to identify and assess the key risks. There are some very obvious and common risks that must be addressed by developers and these are oversupply and inflated selling prices that are included in the financial models of the developers when they make their decision to develop the property,” Mr Peleg said.
“On top of that there are other risks that should be identified by implementing proper risk-management practices. In addition, there are obviously other risks that cannot be foreseen, such as the coronavirus, which create major and unexpected economic shocks.
“The point is that we don’t know and do not expect to know all the potential major events that could occur in the period of at least two years or more (until a developer meets their financial obligations). Many things can happen and what developers need to do is to factor that in and improve risk-management practices to include them in the prices they are proposing.
“Then if they see the discounted pricing, including the risk aspects, is too low – and that others are willing to pay more inflated prices for a lot – they should move on.
“The decision should be very structured, risk based and non-emotional. The first step is risk management, where we need to assess the obvious risks (e.g. oversupply) and the potential risks that are less obvious (e.g. a major economic downturn) and then, based on that, we need to set the price taking into consideration the results of the risk assessment."
Mitigating the risks – develop in the ‘missing middle’
Mr Peleg stressed the importance of risk mitigation by developing properties in popular areas in the middle rings of Sydney and Melbourne, i.e the ‘missing middle’.
“Due to lower supply for house-and-land packages in the missing middle, even when there are some negative shocks, due to limited supply and generally good demand, these shocks are better absorbed with lower price reductions. Another development option in the missing middle is family-suitable units that are more attractive to owner-occupiers looking for larger floor space, lower price per square metre and in smaller building blocks generally close to transport hubs, employment and schools.
“There are actually many areas that have great potential and carry a low risk, it is only a matter of business strategy and proper risk-management practices.”
“Marketing expenses are, in many cases, materially lower for development in the missing middle in high-demand areas where they can be done through the local real estate agents with the standard, up to, 2 per cent commission (as opposed to high commissions required for intrastate and international property marketers).
“And usually in the missing middle, the scale of the development is far smaller which makes them easier to sell.
“The point is developers are at risk of insolvencies and this means they need to mitigate this risk by ensuring they have a sustainable business model, focus on the missing middle ring and address imbalances in the property market.
“Focusing on the missing middle is by far more of a solution than taking the risk of off-the-plan high-rise development.”
DORON PELEG is the <a href="http://www.riskwiseproperty.com.au" target="_blank">CEO of RiskWise</a>
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Apartment developers must rethink their business model: RiskWise's Doron Peleg

<a href="https://www.apartments.com.au/developments/broadbeach-qld-4218">Broadbeach</a> offers plenty of reasons to live vertically, but moving from a substantial family home into an apartment can expose the compromises of high-density living. Privacy, room for guests and usable living space tend to matter more when an apartment is intended as a permanent home rather than an occasional coastal base.

A typical residential floor at <a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a>, on Surf Parade,&nbsp;contains just four apartments. The 94-residence development by <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> is predominantly made up of expansive three-bedroom homes, with a limited collection of half-floor penthouses above.

Across the apartment floors, <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has used the relatively limited number of residences to give each home greater access to natural light and outlook. Living spaces extend towards full-height glazing, while a series of bay windows frame selected views across the Pacific Ocean, city and hinterland rather than treating the building edge as a continuous wall of glass.

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“The apartment floors deliver a collection of homes that embrace controlled outlook via a series of bay windows deliberately framing moments of view,” Rothelowman Director Kim Lowman said.

From outside, those projecting forms contribute to the tower’s faceted profile. Strong horizontal and vertical elements establish its proportions, while the changing position of the sun alters the light, shadow and reflection across the façade throughout the day.

The same attention moves inside the apartments, where the material palette combines warm timber, natural stone, metallic detailing and softer curved forms. Kitchens sit within the main living zone, with stone island benches, integrated joinery and European appliances, before the living areas extend towards the glazing and the outlook.

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Three genuine bedrooms provide room to accommodate family and guests, while two secure car spaces and storage address some of the practical considerations that can become more noticeable when moving from a larger home. Feedback from the display suite has centred on the warmth and restraint of the interiors, with buyers commenting that the residences feel like homes rather than conventional coastal apartments.

A limited collection of half-floor penthouses occupies the upper levels, increasing the scale of the living spaces and adding private balconies and elevated finishes. From this position, the outlook extends between the ocean and hinterland.

Outside the private residences, The Eveleigh separates its shared spaces between the podium and rooftop. The podium is centred on wellness, with subtropical landscaping surrounding a swimming pool and pool terrace, yoga garden, private gymnasium, sauna and hot and cold plunge facilities. Landscaped retreats and pavilions provide additional places to sit away from the main recreation areas.

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Higher in the building, a rooftop pavilion and private dining suite sit alongside resident lounge, barbecue and outdoor dining areas, opening towards panoramic views across the ocean, city and hinterland.

“Buyers are no longer just looking for an apartment, but a lifestyle where they can relax, reset, and enjoy a balanced way of living,” Hirsch &amp; Faigen Director of Sales Matt George said.

Interest to date has come from established owner-occupiers and interstate lifestyle purchasers, including buyers planning a future move to the Gold Coast. Many are coming from larger homes and want to reduce ongoing maintenance without giving up space for family and guests, privacy, two car spaces or the ability to entertain at home.

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Much of that daily life can also take place beyond the building without requiring a drive. Kurrawa Beach and Pratten Park are an easy walk from Surf Parade, while Pacific Fair, Oracle Boulevard, The Oasis, restaurants, cafés, entertainment and public transport are also within walking distance.

The Eveleigh is Hirsch &amp; Faigen's fourth Gold Coast development since entering the market in 2021, following The Hemingway at Palm Beach, The Emerson at Kirra and Yves at Mermaid Beach. Each of the preceding projects sold out before completion.

“Broadbeach had been on our radar throughout our time operating on the Gold Coast,” the developer said. “Following our projects in Palm Beach, Kirra and Mermaid Beach, Broadbeach represented the natural next step for the business.”

The Surf Parade site brought together proximity to the beach, protected coastal outlooks and walkability to dining, shopping and recreation. Hirsch &amp; Faigen also identified the street as an emerging premium residential address, with enough separation from Broadbeach's busier destinations to retain a quieter environment at home.

The Eveleigh is now under construction by Maxcon, with completion forecast for mid-2028. Three-bedroom residences are currently available from $2.87 million.

[smartcode_project_cta:default project_id=149670]

Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

A long-stalled Campbelltown development site is back in play, with new plans for 139 apartments set to supersede a mixed-use scheme approved almost a decade ago but never built.

The new proposal for 28 Cordeaux Street would deliver 116 market and 23 affordable apartments in a part 14-storey building, bringing a substantial new project into a Campbelltown market where new apartment supply remains limited.

Plans have been filed over the 3,092 sqm corner site at Moore-Oxley Street, around 600 metres from Campbelltown Railway Station and the city-centre retail core.

The site already carries a mixed-use residential approval dating to 2016. Doroch Architects has now been engaged on a larger replacement scheme, which is progressing as a State Significant Development Application following a Housing Delivery Authority determination in August 2025.

The apartment mix comprises 39 one-bedroom, 72 two-bedroom and 28 three-bedroom residences. Two-bedroom apartments make up just over half of the project, while three-bedroom homes account for 20 per cent.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="136dd5b9-3791-4da6-9e31-76f533f5b4de" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da2.png?VersionId=LgOSy9nwf5u.MGswBBwaGGxuX8QpHSl_" />

Of the 139 apartments, 23 will be delivered as affordable housing under the in-fill affordable housing provisions of the Housing SEPP. The affordable component represents 15 per cent of the residential gross floor area and will be managed by a registered Community Housing Provider.

Doroch has sought to break the scale of the building into two distinct elements, with a masonry podium of around four storeys establishing the street edge before the residential tower steps back above.

The corner position has shaped that approach. Cordeaux Street faces toward the commercial and civic centre, while Moore-Oxley Street leads into the lower-scale residential neighbourhood to the south, and the design verification report describes the site as "bridging the commercial core to the north and established residential areas to the south."

The podium will be expressed predominantly in face brick, while the upper levels shift to brushed and grooved concrete cladding with darker metal detailing. Recessed sections, deep balcony edges and landscaping break down the upper form, with an approximately 11.8-metre setback to the northern boundary addressing the adjoining St Peters Anglican School.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="c8b3d2d3-c561-4bfc-a5d9-a68c0c10dac1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da1.png?VersionId=AeAEyJU02Gk2k5noUj2StziCvdQ7fW4B" />

Campbelltown has been starved of new residential developments in the last decade.

The only other notable development set to come to market this year is ALAND's Queen Square, a mixed-use precinct on over two hectares that will comprise apartments above a vibrant ground-level retail and hospitality dining precinct.

First look: New 139-apartment plans revive long-stalled Campbelltown city centre site

First Look: Sherlock Construction pitches apartments for low-rise Deception Bay

Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

First look at MAYD's North Kirra mixed-use precinct

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Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

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[smartcode_project_cta:default project_id=152737]

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